Civic Intelligence

Texas Tech Alumni Association Endowment Trust

990 • Fiscal year 2017 • EIN 23-7319286

Sep 01, 2016 to Aug 31, 2017 • Filed on Jun 28, 2018

Organization ProfileTEXASTECHALUMNI.ORG
PO Box 45001Lubbock, TX 79409

(806) 742-3641

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

23rd percentile

0.04x

Higher debt load relative to assets than 23% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

55th percentile

0.28x

Higher debt load relative to revenue than 55% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Net Margin

95th percentile

70%

Higher net margin than 95% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Top Officer Pay

12th percentile

$0

Higher top officer pay than 12% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Asset Growth

79th percentile

16%

Faster asset growth than 79% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Revenue Growth

81st percentile

28%

Faster revenue growth than 81% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets23rd percentile

Assets

Up

$10,941,007

Up $1,509,276 (+16%) from 2016

Net Assets

Up

$10,546,917

Up $1,312,596 (+14%) from 2016

Liabilities

Up

$394,090

Up $196,680 (+100%) from 2016

Revenue And Expenses
Liabilities / Revenue55th percentileNet Margin95th percentile

Revenue

Up

$1,413,114

Up $307,648 (+28%) from 2016

Expenses

Down

$425,420

Down $12,882 (-2.9%) from 2016

Net Income

Up

$987,694

Up $320,530 (+48%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth79th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$20M$15M$10M$5.0M$0Assets 2010: $5,659,993Liabilities 2010: $26,464Net Assets 2010: $5,633,5292010Assets 2011: $5,660,816Liabilities 2011: $20,411Net Assets 2011: $5,640,4052011Assets 2012: $6,264,658Liabilities 2012: $31,151Net Assets 2012: $6,233,5072012Assets 2013: $7,552,724Liabilities 2013: $32,847Net Assets 2013: $7,519,8772013Assets 2015: $8,938,070Liabilities 2015: $166,349Net Assets 2015: $8,771,7212015Assets 2016: $9,431,731Liabilities 2016: $197,410Net Assets 2016: $9,234,3212016Assets 2017: $10,941,007Liabilities 2017: $394,090Net Assets 2017: $10,546,9172017Assets 2018: $11,716,808Liabilities 2018: $178,841Net Assets 2018: $11,537,9672018Assets 2019: $11,852,837Liabilities 2019: $89,961Net Assets 2019: $11,762,8762019Assets 2020: $11,833,848Liabilities 2020: $144,704Net Assets 2020: $11,689,1442020Assets 2021: $14,002,966Liabilities 2021: $95,923Net Assets 2021: $13,907,0432021Assets 2022: $14,292,236Liabilities 2022: $76,068Net Assets 2022: $14,216,1682022Assets 2023: $14,864,543Liabilities 2023: $179,888Net Assets 2023: $14,684,6552023Assets 2024: $16,567,730Liabilities 2024: $174,732Net Assets 2024: $16,392,9982024

Highlighted filing

2017

Assets$10,941,007
Liabilities$394,090
Net Assets$10,546,917
Open 2017 Filing

Operations Trend

Revenue Growth81st percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2010: $302,8752010Expenses 2011: $229,5602011Expenses 2012: $260,4342012Revenue 2013: $1,541,479Expenses 2013: $313,465Net Income 2013: $1,228,0142013Revenue 2015: $827,344Expenses 2015: $368,751Net Income 2015: $458,5932015Revenue 2016: $1,105,466Expenses 2016: $438,302Net Income 2016: $667,1642016Revenue 2017: $1,413,114Expenses 2017: $425,420Net Income 2017: $987,6942017Revenue 2018: $863,511Expenses 2018: $386,237Net Income 2018: $477,2742018Revenue 2019: $732,138Expenses 2019: $527,669Net Income 2019: $204,4692019Revenue 2020: $726,202Expenses 2020: $598,436Net Income 2020: $127,7662020Revenue 2021: $246,773Expenses 2021: $579,903Net Income 2021: -$333,1302021Revenue 2022: $1,059,568Expenses 2022: $552,392Net Income 2022: $507,1762022Revenue 2023: $673,328Expenses 2023: $545,172Net Income 2023: $128,1562023Revenue 2024: $1,422,521Expenses 2024: $679,085Net Income 2024: $743,4362024

Highlighted filing

2017

Revenue$1,413,114
Expenses$425,420
Net Income$987,694
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Sep 1, 2016 to Aug 31, 2017
Signed
Jun 28, 2018
Return Version
2016v3.1
Gross Receipts
$1,898,976
Mission and Program Overview

Mission

To assist in developing and increasing the facilities of texas tech university by and through activities of the texas tech alumni association. The goal is the advancement of higher education and broader educational opportunities including research and other literary and scientific undertakings. Provide scholarships and alumni faculty awards.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$7,256,602$7,829,447▲ $572,845
Savings and Temporary Cash Investments$1,774,870$2,705,898▲ $931,028
Prepaid Expenses and Deferred Charges$333,543$261,447▼ $72,096
Cash and Non-Interest-Bearing Accounts$63,112$114,394▲ $51,282
Total Assets$9,431,731$10,941,007▲ $1,509,276
Other Assets Total$3,604$29,821▲ $26,217
Liabilities
Other Liabilities$104,871$316,188▲ $211,317
Accounts Payable and Accrued Expenses$92,539$77,902▼ $14,637
Total Liabilities$197,410$394,090▲ $196,680
Net Assets / Fund Balance
Permanently Rstr Net Assets$7,888,704$9,017,889▲ $1,129,185
Temporarily Rstr Net Assets$1,345,617$1,529,028▲ $183,411
Total Net Assets Fund Balance$9,234,321$10,546,917▲ $1,312,596
Total Liabilities and Net Assets / Fund Balance$9,431,731$10,941,007▲ $1,509,276

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$9,234,691$804,072▲ $933,944$52$10,546,917
2015$8,771,721$857,441▲ $43,461$1,676$9,234,691
2014$8,559,143$646,585▲ $180,759-$8,771,721
2013$7,519,877$534,998▲ $729,581-$8,559,143
2012$6,233,507$1,311,175▲ $270,091-$7,519,877
Compensation and Service Providers
Top Officer Pay12th percentile

Board Members and Trustees

NameTitle
Bill BrownChairman
Tom SellersPresident
David LowCFO
Ivette BascuesChief Accoun
Dan PopeMember
David WaggonerMember
Jeff KlotzmanMember
Joe Dale BryanMember
John ElliotMember
Keith MannMember
Paul CombestMember
Rex IsomMember
Rick OvermanMember
Dr Bill DeanSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$804,072
Program Service Revenue
$0
Investment Income
$609,042
Other Revenue
$0
All Other Contributions
$804,072
Change in Net Assets
$987,694

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,413,114
Revenue Not Reported on Form 990
$324,902
Total Revenue per Audited Statements
$1,738,016
Total Revenue per Form 990
$1,413,114
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$405,367
Other Expenses$20,053
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$405,367--$405,367
Fees for Services Accounting-$20,001-$20,001
Other Expenses$52--$52
Total Functional Expenses$405,419$20,001$0$425,420

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$425,420
Total Expenses per Audited Statements$425,420
Total Expenses per Form 990$425,420
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Affiliate$240,988
Scholarships Payable$75,200
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The form 990 is reviewed by the endowment officers and is then made available to the other board members for their review.”

Form 990, Page 6, Part VI, Line 19

“AVAILABLE UPON REQUEST.”

Filing and Contact Details

Filer

Filer Name
Texas Tech Alumni Association
EIN
23-7319286
Phone
8067423641
Address
PO BOX 45001, LUBBOCK, TX 79409

Signing Officer

Name
David Low
Title
CFO
Phone
8067423641
Signed
2018-06-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Low
Formed
1973
Legal Domicile
TX
Voting Board Members
11
Independent Board Members
11
Employees
0

Preparer

Firm
Carr Riggs & Ingram LLC
Address
2403 82ND ST, LUBBOCK, TX 79423-2300
Preparer
Jimmy D Pendergrass
Phone
8067456789
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To assist in developing and increasing the facilities of texas tech university by and through activities of the texas tech alumni association. The goal is the advancement of higher education and broader educational opportunities including research and other literary and scientific undertakings. Provide scholarships and alumni faculty awards.”

Financial Statement Notes

Schedule D, Page 3, Part X

“The accounting standard on accounting for uncertainty in income taxes addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under that guidance, an organization may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities based on the technical merits of the position. Examples of tax positions include the tax-exempt status of an organization and various positions related to the potential sources of unrelated business taxable income (ubit). All significant tax positions have been considered by management. It has been determined that it is more likely than not that all tax positions would be sustained upon examination by taxing authorities. The organization has taken no uncertain tax positions for the years ended august 31, 2017 and 2016.”

Raw XML AppendixShowing 400 of 464 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THAT GUIDANCE, AN ORGANIZATION MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES BASED ON THE TECHNICAL MERITS OF THE POSITION. EXAMPLES OF TAX POSITIONS INCLUDE THE TAX-EXEMPT STATUS OF AN ORGANIZATION AND VARIOUS POSITIONS RELATED TO THE POTENTIAL SOURCES OF UNRELATED BUSINESS TAXABLE INCOME (UBIT). ALL SIGNIFICANT TAX POSITIONS HAVE BEEN CONSIDERED BY MANAGEMENT. IT HAS BEEN DETERMINED THAT IT IS MORE LIKELY THAN NOT THAT ALL TAX POSITIONS WOULD BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. THE ORGANIZATION HAS TAKEN NO UNCERTAIN TAX POSITIONS FOR THE YEARS ENDED AUGUST 31, 2017 AND 2016.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO ASSIST IN DEVELOPING AND INCREASING THE FACILITIES OF TEXAS TECH UNIVERSITY BY AND THROUGH ACTIVITIES OF THE TEXAS TECH ALUMNI ASSOCIATION. THE GOAL IS THE ADVANCEMENT OF HIGHER EDUCATION AND BROADER EDUCATIONAL OPPORTUNITIES INCLUDING RESEARCH AND OTHER LITERARY AND SCIENTIFIC UNDERTAKINGS. PROVIDE SCHOLARSHIPS AND ALUMNI FACULTY AWARDS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS REVIEWED BY THE ENDOWMENT OFFICERS AND IS THEN MADE AVAILABLE TO THE OTHER BOARD MEMBERS FOR THEIR REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$10,941,007
Liabilities
$394,090
Net assets
$10,546,917
Revenue
$1,413,114
Expenses
$425,420
Net income
$987,694
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$16.6$0.17$16.4$1.42$0.68$0.74
2023Detailed filing. Detailed filing data is available for this year.$14.9$0.18$14.7$0.67$0.55$0.13
2022Detailed filing. Detailed filing data is available for this year.$14.3$0.08$14.2$1.06$0.55$0.51
2021Detailed filing. Detailed filing data is available for this year.$14.0$0.10$13.9$0.25$0.58$0.33
2020Detailed filing. Detailed filing data is available for this year.$11.8$0.14$11.7$0.73$0.60$0.13
2019Detailed filing. Detailed filing data is available for this year.$11.9$0.09$11.8$0.73$0.53$0.20
2018Detailed filing. Detailed filing data is available for this year.$11.7$0.18$11.5$0.86$0.39$0.48
2017Detailed filing. Detailed filing data is available for this year.$10.9$0.39$10.5$1.41$0.43$0.99
2016Detailed filing. Detailed filing data is available for this year.$9.43$0.20$9.23$1.11$0.44$0.67
2015Detailed filing. Detailed filing data is available for this year.$8.94$0.17$8.77$0.83$0.37$0.46
2013Detailed filing. Detailed filing data is available for this year.$7.55$0.03$7.52$1.54$0.31$1.23
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.26$0.03$6.23$0.26
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.66$0.02$5.64$0.23
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.66$0.03$5.63$0.30