Culver Educational Foundation

“The organization has an executive committee. The Executive Committee shall consist of the Chairman, the Vice Chairman (if one has been elected), the Head of Schools and at least two (2) other trustees elected by a majority of all the trustees at each annual board meeting. During intervals between meetings of the Board of Trustees, the Executive Committee shall have and exercise all of the authority of the Board of Trustees in the management of the Foundation, except where prohibited by law; provided, however, that the Executive Committee may only appropriate funds not budgeted or otherwise authorized by the Board of Trustees up to $75,000 total between Board meetings for the purposes of the Foundation; and provided, further, that the Executive Committee shall make no changes in policies of the Foundation without the express authority of the Board of Trustees. In addition to the authority granted in the preceding sentence, the Executive Committee, to the extent specified by the Board of Trustees, may exercise the authority of the Board of Trustees, except where prohibited by law. The Executive Committee shall cause minutes of its proceedings to be kept and filed with the minutes of the proceedings of the Board of Trustees, and shall make a report at each regular or special meeting of the Board of Trustees of all acts of the Committee since the last meeting of the board. A majority vote of the members of the Executive Committee shall be necessary for any action by the committee.”

“The Form 990 is prepared by the Business Office and reviewed by the Controller before external review by the School's tax firm. It is then reviewed and approved (excluding Schedule B) by the Budget, Audit and Human Resources committee. The full Board of Trustees has access to the Form 990 (excluding Schedule B) and is provided a summary briefing prior to filing the Form 990 with the Internal Revenue Service.”

“Each member of the Board of Trustees completes an annual Conflict of Interest Statement disclosing any potential conflicts. Officers of the Board and administrative employees also complete an annual Conflict of Interest Statement. The Conflict of Interest Statements are reviewed and maintained in the Head of School's office. Any disclosure determined to be in violation of policy is addressed between the Head of Schools, the Chairman of the Board of Trustees, and the respective Trustee, Officer or employee.”

“The Compensation Committee of the Board of Trustees reviews performance and determines compensation for the Head of Schools. The committee reviews comparative compensation for the Head of Schools and school officers every May, with the most recent compensation review completed in May 2023. Compensation is based upon performance and peer school review, as supported recommendations and industry benchmarks. The committee documents the compensation deliberations and decisions in the minutes of the meeting.”

“The Compensation Committee of the Board of Trustees reviews performance and determines compensation for the Head of Schools. The committee reviews comparative compensation for the Head of Schools and school officers every May, with the most recent compensation review completed in May 2023. Compensation is based upon performance and peer school review, as supported recommendations and industry benchmarks. The committee documents the compensation deliberations and decisions in the minutes of the meeting.”

“Financial statements, conflict of interest policy and governing documents are available upon request for the same period of disclosure as set forth in Section 6104(d) from the Director of the Business Office & Controller or the Head of Schools of the Culver Educational Foundation. Copies of the documents are provided with state tax and corporate return filings and are regularly included with filings for property tax exemption and grant proposals as needed. In addition, information is provided to investment managers, bank officers and approved contractors as necessary or requested.”

“Other - Total Revenue: 359952, Related or Exempt Function Revenue: 358630, Unrelated Business Revenue: 0, Revenue Excluded from Tax Under Sections 512, 513, or 514: 1322;”

“Located in Culver, IN, Henry Harrison Culver first founded Culver Military Academy in 1894 "for the purpose of thoroughly preparing young men for the best colleges, scientific schools and businesses of America." Culver Summer Schools and Camps began in 1902 and today brings nearly 1,300 campers from around the world to Culver to learn leadership skills that improve personal confidence. Coeducational since 1971, Culver Girls Academy was founded for the purpose of encouraging young women to attain the highest degree of self-development. Culver's mission is to educate its students for leadership and responsible citizenship in society by nurturing the whole individual- mind, spirit and body - through integrated programs that emphasize the cultivation of character. In addition, significant activities at Culver include The Ron Rubin School for the Entrepreneur, a Senior Service Project, the Global Pathways Spring Program and the Culver Equestrian Program. In today's global marketplace, entrepreneurship is the indispensable element to America's growth and prosperity and absolutely essential to our continued economic and political leadership in the world. Founded in 2006, The Ron Rubin School for the Entrepreneur provides adventurous Culver students with dynamic opportunities to learn--and practice--the skills of entrepreneurship that will prepare them for the real-world challenges of the 21st century. The program's fundamental objectives include helping participants gain a deeper understanding of creative and innovative thinking, adaptability, articulating arguments, collaboration and competition, learning from failures, and developing a global mind-set. Through interaction with highly successful entrepreneurs, field trips to exciting destinations, and challenging tasks that require collaboration and teamwork, students gain a deeper appreciation for innovation, creativity, and the magic of the entrepreneurial spirit. The Senior Service Project is the capstone of a student's Culver career and a requirement to graduate. It affords students the opportunity to integrate the best of what they have learned about themselves and leadership through a self-initiated practical experience that culminates into a meaningful response to a social need within a defined community. The end result will lead to an increased sense of competence, purpose and enlightenment within each student. The Global Pathways Spring program (GPS) provides service-learning and cultural exchange opportunities for students, faculty, staff, and patrons who have a desire to learn about another culture and to live responsibly as global citizens. There have been trips to seven states, Puerto Rico and twenty-three countries. The Culver Equestrian Program teaches students and campers' teamwork, attention to detail, and leadership. The Black Horse Troop, Lancers, Equestriennes, and the Summer Mounted Drill Team offer students and campers the opportunity to acquire not only physical strength and ability, but also the broader qualities of patience, perseverance, grit, and courage - the true hallmarks of an equestrian.”

“Culver educates its students for leadership and responsible citizenship in society by developing and nurturing the whole individual--mind, spirit, and body--through integrated programs that emphasize the cultivation of character. Culver offers challenging programs in our classrooms and on the athletic fields and a strong sense of community. Culver creates opportunities for students to practice critical thinking and problem-solving to deepen understanding. Our integrated wellness program helps students understand and practice healthy lifestyles. Our commitment to spiritual development includes required weekly religious services. We are a community who believes in educating its students in the virtues of wisdom, justice, courage and moderation. Culver's philosophy is embodied in its Honor Code, its student leadership systems, and Ethics and Service-Learning requirements for graduation. We have high ideals and equally high expectations.”

“(Expenses $ 18,069,707 including grants of $)(Revenue $ 764,584) Student Services Programs: A variety of student services and activities were provided, including Barber Shop, Laundry-Dry Cleaning, Dining Hall, and Student Health Services.”

“(Expenses $ including grants of $) Student Services Programs, General/Other: Auxiliary services such as required uniform and a campus bookstore provided for the convenience of students.”

“Minimum pension liability - 3068259; Present value of future swap - 2426015; Temp restricted cash surrender value - 118853; Beneficial interest in trusts - 328796; Pledge write-offs - -119584; Charitable gift annuities - -193211; Transfer to Lowenstine Fund Corporation - 1600000;”