Civic Intelligence

Peru State College Foundation Inc.

990 • Fiscal year 2020 • EIN 47-0495359

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 15, 2021

PO Box 10Peru, NE 68421

(402) 872-2342

Siviq Scores

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

Liabilities / Assets

11th percentile

0.00x

Higher debt load relative to assets than 11% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

17th percentile

0.06x

Higher debt load relative to revenue than 17% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Net Margin

90th percentile

49%

Higher net margin than 90% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

15th percentile

$44,488

Higher top officer pay than 15% of similar nonprofits.

Top officer pay equals 2.8% of source-year revenue.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Asset Growth

64th percentile

12%

Faster asset growth than 64% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

6th percentile

-51%

Faster revenue growth than 6% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Assets

Up

$20,047,365

Up $2,207,985 (+12%) from 2019

Net Assets

Up

$19,953,641

Up $2,158,691 (+12%) from 2019

Liabilities

Up

$93,724

Up $49,294 (+111%) from 2019

Revenue

Down

$1,587,551

Down $1,681,730 (-51%) from 2019

Expenses

Down

$805,753

Down $443,188 (-35%) from 2019

Net Income

Down

$781,798

Down $1,238,542 (-61%) from 2019

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2010: $10,374,624Liabilities 2010: $262,874Net Assets 2010: $10,111,7502010Assets 2011: $10,524,735Liabilities 2011: $311,643Net Assets 2011: $10,213,0922011Assets 2012: $12,011,083Liabilities 2012: $431,365Net Assets 2012: $11,579,7182012Assets 2013: $13,811,832Liabilities 2013: $308,814Net Assets 2013: $13,503,0182013Assets 2014: $14,278,890Liabilities 2014: $346,338Net Assets 2014: $13,932,5522014Assets 2015: $13,763,619Liabilities 2015: $449,965Net Assets 2015: $13,313,6542015Assets 2016: $12,956,670Liabilities 2016: $422,352Net Assets 2016: $12,534,3182016Assets 2017: $14,354,183Liabilities 2017: $277,769Net Assets 2017: $14,076,4142017Assets 2018: $13,844,612Liabilities 2018: $198,727Net Assets 2018: $13,645,8852018Assets 2019: $17,839,380Liabilities 2019: $44,430Net Assets 2019: $17,794,9502019Assets 2020: $20,047,365Liabilities 2020: $93,724Net Assets 2020: $19,953,6412020Assets 2021: $22,198,844Liabilities 2021: $138,643Net Assets 2021: $22,060,2012021Assets 2022: $18,421,691Liabilities 2022: $103,470Net Assets 2022: $18,318,2212022Assets 2023: $22,284,093Liabilities 2023: $170,803Net Assets 2023: $22,113,2902023Assets 2024: $21,812,388Liabilities 2024: $123,357Net Assets 2024: $21,689,0312024

Highlighted filing

2020

Assets$20,047,365
Liabilities$93,724
Net Assets$19,953,641

Operations Trend

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

$4.0M$2.0M$0-$2.0M-$4.0MExpenses 2010: $868,2172010Expenses 2011: $991,1682011Expenses 2012: $1,057,3482012Revenue 2013: $2,608,884Expenses 2013: $1,752,440Net Income 2013: $856,4442013Revenue 2014: $1,982,984Expenses 2014: $1,151,852Net Income 2014: $831,1322014Revenue 2015: $2,557,175Expenses 2015: $2,421,764Net Income 2015: $135,4112015Revenue 2016: $1,541,702Expenses 2016: $2,545,875Net Income 2016: -$1,004,1732016Revenue 2017: $2,272,315Expenses 2017: $1,736,330Net Income 2017: $535,9852017Revenue 2018: $1,839,836Expenses 2018: $1,358,098Net Income 2018: $481,7382018Revenue 2019: $3,269,281Expenses 2019: $1,248,941Net Income 2019: $2,020,3402019Revenue 2020: $1,587,551Expenses 2020: $805,753Net Income 2020: $781,7982020Revenue 2021: $2,387,281Expenses 2021: $966,416Net Income 2021: $1,420,8652021Revenue 2022: $1,356,756Expenses 2022: $1,307,148Net Income 2022: $49,6082022Revenue 2023: $3,037,751Expenses 2023: $1,379,712Net Income 2023: $1,658,0392023Revenue 2024: $1,413,644Expenses 2024: $3,833,967Net Income 2024: -$2,420,3232024

Highlighted filing

2020

Revenue$1,587,551
Expenses$805,753
Net Income$781,798
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 15, 2021
Return Version
2020v4.1
Gross Receipts
$5,191,372
Mission and Program Overview

Mission

The mission of the peru state college foundation is to provide assistance and support for peru state college, a four-year liberal arts institution, established in 1867 as nebraska's first public institution of higher education. With more than 24,000 alumni and friends and more than ten million in net assets, the psc foundation assists the college in achieving its mission of providing quality education, programs and services.

The mission of the peru state college foundation is to provide assistance and support for peru state college, a four-year liberal arts institution.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$16,231,946$18,844,238▲ $2,612,292
Cash and Non-Interest-Bearing Accounts$591,452$671,105▲ $79,653
Land, Buildings, and Equipment, Net$575,961$308,083▼ $267,878
Savings and Temporary Cash Investments$244,530$0▼ $244,530
Pledges and Grants Receivable$194,405$210,128▲ $15,723
Accounts Receivable$1,086$13,811▲ $12,725
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$17,839,380$20,047,365▲ $2,207,985
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$44,430$93,724▲ $49,294
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$44,430$93,724▲ $49,294
Net Assets / Fund Balance
Net Assets With Donor Restrictions$17,611,723$19,553,278▲ $1,941,555
Net Assets Without Donor Restrictions$183,227$400,363▲ $217,136
Total Net Assets Fund Balance$17,794,950$19,953,641▲ $2,158,691
Total Liabilities and Net Assets / Fund Balance$17,839,380$20,047,365▲ $2,207,985

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$152,299$21,370$173,669
Land$149,096-$149,096
Other Land Buildings$6,688$25,066$31,754
Buildings$0$0$0
Other Securities$18,844,238--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$18,623,883$377,076▲ $2,099,372-$20,596,624
2019$14,673,313$2,063,843▲ $2,278,833-$18,623,883
2018$15,301,974$331,494▼ $576,046-$14,673,313
2017$13,682,273$385,707▲ $1,607,573-$15,301,974
2016$13,224,765$170,826▲ $650,155-$13,682,273
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Sarabeth DonovanChief Executive OfficerFT$44,488$44,488
Rebecca JewellInterim Chief Executive OfficeFT$37,053$37,053
Kent PropstActing DirectorPT$10,766$10,766

Board Members and Trustees

NameTitle
Judy GrotrianInterim Chair
Connie EdmondCo-vice Chair
Elton EdmondCo-vice Chair
Jeff GreenwaldDirector
William SnyderDirector
Cindy HoffmanCo-treasurer
Tim HoffmanCo-treasurer
Mike GuilliattOfficer
Al UrwinSecretary
Pat MertensSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$681,398
Program Service Revenue
$0
Investment Income
$889,874
Other Revenue
$16,279
All Other Contributions
$681,398
Change in Net Assets
$781,798

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,576,918
Revenue Not Reported on Financial Statements
$10,633
Revenue Not Reported on Form 990
$1,586,264
Other Revenue Adjustments
$10,633
Total Revenue per Audited Statements
$3,163,182
Total Revenue per Form 990
$1,587,551
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$354,242
Other Expenses$324,887
Total Fundraising Expense$135,135
Salaries, Compensation, and Employee Benefits$126,624
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$354,242--$354,242
Office Expenses-$156,621$27,000$183,621
Current Officers, Directors, Trustees, and Key Employees-$75,633$16,674$92,307
Other Salaries and Wages-$23,035$11,282$34,317
Other Expenses-$32,536$956$32,536
Depreciation Depletion-$17,164-$17,164
Conferences and Meetings-$10,729-$10,729
Travel--$7,495$7,495
Total Functional Expenses$354,242$316,376$135,135$805,753

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,005,777
Expenses per Audited Statements$805,753
Total Expenses per Form 990$805,753
Expenses Not Reported on Form 990$200,024
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Peru State CollegePeru, NE-Scholarships to Peru State College Students and Support for Academic Departments at the University.-
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$15,440
Fundraising Direct Expenses$7,867
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Outing$15,440$15,440$1,561$13,879
Total Events$15,440$15,440$7,867$7,573
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Business relationship with 35% controlled entity
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The draft of the form 990 is distributed via email to the board of directors for review, comment and approval. Once all changes, if any, are made and approved by the board, the form 990 is filed.

Form 990, Part VI, Section B, Line 15A

The board of directors evaluates the position of executive director and reviews comparable positions with comparable organizations before approval of compensation.

Form 990, Part VI, Section B, Line 15B

The board of directors evaluates compensation for other key employees and reviews comparable positions with comparable organizations before approval of compensation.

Form 990, Part VI, Section C, Line 19

The foundation's governing documents, tax returns and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Peru State College Foundation
EIN
47-0495359
In Care Of
% CINDY HOFFMAN
Phone
4028722342
Address
PO BOX 10, PERU, NE 68421

Signing Officer

Name
Tim Hoffman
Title
Treasurer
Phone
4028722342
Signed
2021-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tim Hoffman
Formed
1955
Legal Domicile
Ne
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
8

Preparer

Firm
Bkd Llp
Address
1248 O STREET STE 1040, LINCOLN, NE 68508-1461
Preparer
Kristin Tynon
Phone
4024737600
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Other change in net assets 1,286 restatement for correctino of an error on audited financials

Financial Statement Notes

Schedule D, Part V, Line 4

Endowment fund earnings are available for scholarships for qualifying students of the college.

Schedule D, Part XI, Line 4B

(7,867) special event expenses netted with revenue on tax return 18,500 gain on sale of land included in revenue on tax return ------ 10,633 net other adjustments on line 4b

Schedule D, Part XII, Line 2D

7,867 special event expenses netted with revenue on tax return

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IRS990/Form990PartVIISectionAGrp/TitleTxt0CHIEF EXECUTIVE OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt1INTERIM CHIEF EXECUTIVE OFFICE
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IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4CO-TREASURER
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IRS990/Form990PartVIISectionAGrp/TitleTxt6SECRETARY
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IRS990/MissionDesc0THE MISSION OF THE PERU STATE COLLEGE FOUNDATION IS TO PROVIDE ASSISTANCE AND SUPPORT FOR PERU STATE COLLEGE, A FOUR-YEAR LIBERAL ARTS INSTITUTION, ESTABLISHED IN 1867 AS NEBRASKA'S FIRST PUBLIC INSTITUTION OF HIGHER EDUCATION. WITH MORE THAN 24,000 ALUMNI AND FRIENDS AND MORE THAN TEN MILLION IN NET ASSETS, THE PSC FOUNDATION ASSISTS THE COLLEGE IN ACHIEVING ITS MISSION OF PROVIDING QUALITY EDUCATION, PROGRAMS AND SERVICES.
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IRS990/OtherExpensesGrp/Desc1Special Events
IRS990/OtherExpensesGrp/Desc2OTHER EXPENSES
IRS990/OtherExpensesGrp/Desc3BAD DEBT EXPENSE
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IRS990/OtherExpensesGrp/FundraisingAmt147555
IRS990/OtherExpensesGrp/FundraisingAmt2956
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt132536
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IRS990/OtherExpensesGrp/TotalAmt147555
IRS990/OtherExpensesGrp/TotalAmt21614
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IRS990/OtherWebsiteInd0X
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IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/TotalAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0194405
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0210128
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt00
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IRS990/PrincipalOfficerNm0TIM HOFFMAN
IRS990/ProfessionalFundraisingInd0true
IRS990/ProgramServiceRevenueGrp/Desc0All other program service revenue -
IRS990/ProgSrvcAccomActy2Grp/Desc0PROVIDE PERU STATE COLLEGE EDUCATIONAL DEPARTMENTS WITH GRANTS FOR EQUIPMENT AND OPERATING PURPOSES.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt050458
IRS990/ProgSrvcAccomActy2Grp/GrantAmt050458
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IRS990/PYTotalRevenueAmt03269281
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IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd0false
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IRS990ScheduleA/Form990SchAType3FuncIntGrp/GovernmentalEntityInd0X
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE FOUNDATION OFFICES ARE LOCATED ON THE SUPPORTED ORGANIZATION'S CAMPUS AND THE FOUNDATION ACTS AS THE ALUMNI RELATIONS ARM OF THE INSTITUTION. THE FOUNDATION CEO IS ON THE COLLEGE PRESIDENT'S CABINET AND THE PRESIDENT IN TURN, ATTENDS ALL FOUNDATION BOARD MEETINGS. THIS MAINTAINS A CLOSE AND CONTINUOUS WORKING RELATIONSHIP BETWEEN ORGANIZATIONS.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1PERU STATE COLLEGE FOUNDATION WAS ORGANIZED IN JUNE 1955 AND INCORPORATED AS A NONPROFIT ORGANIZATION FOR EDUCATIONAL AND CHARITABLE PURPOSES IN MAY 1962. IT IS A SELF-SUPPORTING AND INDEPENDENTLY GOVERNED CORPORATION ESTABLISHED SOLELY FOR THE BENEFIT OF PERU STATE COLLEGE AND ITS STUDENTS, FACULTY, AND PROGRAMS. THE FOUNDATION PROVIDES SCHOLARSHIPS TO COLLEGE STUDENTS, MONETARY SUPPORT TO ACADEMIC DEPARTMENTS AND COLLEGE ADMINISTRATIVE DEPARTMENTS, AS REQUESTED BY THE COLLEGE AND APPROVED BY THE FOUNDATION.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A, PART IV, SECTION D, LINE 2
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1SCHEDULE A, PART IV, SECTION E, LINE 1C
IRS990ScheduleA/SupportedOrganizationsCnt01

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$21.8$0.12$21.7$1.41$3.83$2.42
2023Detailed filing. Detailed filing data is available for this year.$22.3$0.17$22.1$3.04$1.38$1.66
2022Detailed filing. Detailed filing data is available for this year.$18.4$0.10$18.3$1.36$1.31$0.05
2021Detailed filing. Detailed filing data is available for this year.$22.2$0.14$22.1$2.39$0.97$1.42
2020Detailed filing. Detailed filing data is available for this year.$20.0$0.09$20.0$1.59$0.81$0.78
2019Detailed filing. Detailed filing data is available for this year.$17.8$0.04$17.8$3.27$1.25$2.02
2018Detailed filing. Detailed filing data is available for this year.$13.8$0.20$13.6$1.84$1.36$0.48
2017Detailed filing. Detailed filing data is available for this year.$14.4$0.28$14.1$2.27$1.74$0.54
2016Detailed filing. Detailed filing data is available for this year.$13.0$0.42$12.5$1.54$2.55$1.00
2015Detailed filing. Detailed filing data is available for this year.$13.8$0.45$13.3$2.56$2.42$0.14
2014Detailed filing. Detailed filing data is available for this year.$14.3$0.35$13.9$1.98$1.15$0.83
2013Detailed filing. Detailed filing data is available for this year.$13.8$0.31$13.5$2.61$1.75$0.86
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.0$0.43$11.6$1.06
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.5$0.31$10.2$0.99
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.4$0.26$10.1$0.87