Civic Intelligence

College Heights Foundation Inc

EIN 61-0459494 • 501(c)3 • Bowling Green, KY

Profile

The college heights foundation provides assistance and encouragement to deserving students while advancing western kentucky university by offering financial support. The chf serves as the official repository for private gifts in support of wku and is committed to supporting the university's mission by receiving, investing, stewarding, and disbursing private gifts in accordance with donor intent.

1703 Chestnut StreetBowling Green, KY 42101

www.wku.edu/CHF

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

26th percentile

0.11x

Higher debt load relative to assets than 26% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Liabilities / Revenue

63rd percentile

0.67x

Higher debt load relative to revenue than 63% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Net Margin

94th percentile

55%

Higher net margin than 94% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Top Officer Pay

43rd percentile

$671,846

Higher top officer pay than 43% of similar nonprofits.

Top officer pay equals 2.9% of source-year revenue.

501(c)3 • $250M-$1B nonprofits • Source year 2023

Asset Growth

86th percentile

18%

Faster asset growth than 86% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Revenue Growth

96th percentile

109%

Faster revenue growth than 96% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Assets

Up

$304,511,705

Up $47,075,338 (+18%) from 2023

Liabilities

Up

$32,441,515

Up $2,869,665 (+9.7%) from 2023

Net Assets

Up

$272,070,190

Up $44,205,673 (+19%) from 2023

Revenue

Up

$48,216,006

Up $25,148,611 (+109%) from 2023

Expenses

Up

$21,475,422

Up $4,140,253 (+24%) from 2023

Net Income

Up

$26,740,584

Up $21,008,358 (+366%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$400M$300M$200M$100M$0Assets 2010: $43,376,112Liabilities 2010: $9,023,829Net Assets 2010: $34,352,2832010Assets 2011: $41,584,720Liabilities 2011: $8,906,967Net Assets 2011: $32,677,7532011Assets 2012: $42,256,983Liabilities 2012: $6,046,039Net Assets 2012: $36,210,9442012Assets 2013: $50,083,132Liabilities 2013: $6,349,824Net Assets 2013: $43,733,3082013Assets 2014: $55,830,934Liabilities 2014: $6,215,042Net Assets 2014: $49,615,8922014Assets 2015: $54,232,024Liabilities 2015: $5,967,062Net Assets 2015: $48,264,9622015Assets 2016: $63,697,995Liabilities 2016: $6,019,768Net Assets 2016: $57,678,2272016Assets 2017: $77,516,274Liabilities 2017: $6,258,752Net Assets 2017: $71,257,5222017Assets 2018: $74,270,226Liabilities 2018: $6,452,264Net Assets 2018: $67,817,9622018Assets 2019: $90,582,309Liabilities 2019: $5,703,076Net Assets 2019: $84,879,2332019Assets 2020: $103,666,083Liabilities 2020: $8,101,853Net Assets 2020: $95,564,2302020Assets 2021: $121,076,020Liabilities 2021: $7,139,918Net Assets 2021: $113,936,1022021Assets 2022: $105,542,528Liabilities 2022: $5,942,147Net Assets 2022: $99,600,3812022Assets 2023: $257,436,367Liabilities 2023: $29,571,850Net Assets 2023: $227,864,5172023Assets 2024: $304,511,705Liabilities 2024: $32,441,515Net Assets 2024: $272,070,1902024

Highlighted filing

2024

Assets$304,511,705
Liabilities$32,441,515
Net Assets$272,070,190

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$60M$40M$20M$0-$20MRevenue 2010: $4,593,654Expenses 2010: $5,352,242Net Income 2010: -$758,5882010Revenue 2011: $5,158,737Expenses 2011: $5,914,626Net Income 2011: -$755,8892011Revenue 2012: $6,501,288Expenses 2012: $6,471,370Net Income 2012: $29,9182012Revenue 2013: $7,285,945Expenses 2013: $6,385,210Net Income 2013: $900,7352013Revenue 2014: $10,021,386Expenses 2014: $6,012,823Net Income 2014: $4,008,5632014Revenue 2015: $6,287,478Expenses 2015: $5,939,494Net Income 2015: $347,9842015Revenue 2016: $12,867,056Expenses 2016: $6,240,327Net Income 2016: $6,626,7292016Revenue 2017: $13,081,773Expenses 2017: $6,704,442Net Income 2017: $6,377,3312017Revenue 2018: $8,955,028Expenses 2018: $7,027,186Net Income 2018: $1,927,8422018Revenue 2019: $12,170,266Expenses 2019: $7,130,004Net Income 2019: $5,040,2622019Revenue 2020: $10,470,490Expenses 2020: $9,273,787Net Income 2020: $1,196,7032020Revenue 2021: $12,280,275Expenses 2021: $7,744,640Net Income 2021: $4,535,6352021Revenue 2022: $11,398,936Expenses 2022: $9,111,997Net Income 2022: $2,286,9392022Revenue 2023: $23,067,395Expenses 2023: $17,335,169Net Income 2023: $5,732,2262023Revenue 2024: $48,216,006Expenses 2024: $21,475,422Net Income 2024: $26,740,5842024

Highlighted filing

2024

Revenue$48,216,006
Expenses$21,475,422
Net Income$26,740,584

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$305$32.4$272$48.2$21.5$26.7
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$257$29.6$228$23.1$17.3$5.73
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$106$5.94$99.6$11.4$9.11$2.29
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$121$7.14$114$12.3$7.74$4.54
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$104$8.10$95.6$10.5$9.27$1.20
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$90.6$5.70$84.9$12.2$7.13$5.04
2018Summary only. Only limited summary data is available for this year.$74.3$6.45$67.8$8.96$7.03$1.93
2017Summary only. Only limited summary data is available for this year.$77.5$6.26$71.3$13.1$6.70$6.38
2016Summary only. Only limited summary data is available for this year.$63.7$6.02$57.7$12.9$6.24$6.63
2015Summary only. Only limited summary data is available for this year.$54.2$5.97$48.3$6.29$5.94$0.35
2014Summary only. Only limited summary data is available for this year.$55.8$6.22$49.6$10.0$6.01$4.01
2013Summary only. Only limited summary data is available for this year.$50.1$6.35$43.7$7.29$6.39$0.90
2012Summary only. Only limited summary data is available for this year.$42.3$6.05$36.2$6.50$6.47$0.03
2011Summary only. Only limited summary data is available for this year.$41.6$8.91$32.7$5.16$5.91$0.76
2010Summary only. Only limited summary data is available for this year.$43.4$9.02$34.4$4.59$5.35$0.76
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2023 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Dec 1, 2025
Return Version
2023v6.0
Gross Receipts
$74,889,433
Mission and Program Overview

Mission

To provide assistance and encouragement to deserving students attending western kentucky university through the administration of scholarships.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$90,947,534$192,787,349▲ $101,839,815
Investments Other Securities-$14,259,670-
Cash and Non-Interest-Bearing Accounts$3,084,761$6,355,782▲ $3,271,021
Pledges and Grants Receivable$757,274$3,268,557▲ $2,511,283
Land, Buildings, and Equipment, Net$955,180$1,208,310▲ $253,130
Prepaid Expenses and Deferred Charges$0$68,815▲ $68,815
Accounts Receivable$6,500$0▼ $6,500
Total Assets$105,542,528$257,436,367▲ $151,893,839
Other Assets Total$9,791,279$39,487,884▲ $29,696,605
Liabilities
Other Liabilities$5,940,596$28,768,919▲ $22,828,323
Accounts Payable and Accrued Expenses$1,551$802,931▲ $801,380
Total Liabilities$5,942,147$29,571,850▲ $23,629,703
Net Assets / Fund Balance
Net Assets With Donor Restrictions$96,589,150$214,072,351▲ $117,483,201
Net Assets Without Donor Restrictions$3,011,231$13,792,166▲ $10,780,935
Total Net Assets Fund Balance$99,600,381$227,864,517▲ $128,264,136
Total Liabilities and Net Assets / Fund Balance$105,542,528$257,436,367▲ $151,893,839

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$419,088$102,248$521,336
Land$443,219-$443,219
Other Land Buildings$300,001-$300,001
Equipment$46,002$54,963$100,965
Other Assets Org$24,175--
Other Securities$14,259,670--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$84,138,835$4,218,337▲ $96,474,009$2,490,014$182,341,167
2022$80,971,610$4,930,678▼ $391,318-$84,138,835
2021$75,177,071$6,062,670▲ $690,996-$80,971,610
2020$71,331,225$4,767,529▲ $154,434-$75,177,071
2019$67,219,726$5,272,838▲ $14,677-$71,331,225
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Timothy CaboniWku Preseident (ex-officio Board Member)-$671,846$671,846
Jessica CarverVice PresidentFT$125,233$125,233
Sue MillerSecretaryPT$4,127$4,127

Board Members and Trustees

NameTitle
Donald SmithPresident
Alexander DowningDirector
Bob YoungDirector
Clarence GloverDirector
Deanna MillsDirector
Garry WatkinsDirector
Gen E Daniel CherryDirector
Jack GlasserDirector
Jennifer GreulichDirector
Jerry MartinDirector
Jim MartensDirector
Joe B NatcherDirector
Kim MenkeDirector
Marc a LovellDirector
Michael L SimpsonDirector
Michelle WellsDirector
Paul CalicoDirector
R Harvey Johnston IiiDirector
Shannon VitaleDirector
Timothy CaboniWku Preseident (ex-officio Board Mem
Cynthia WilkersonTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
John Thomas Design LLCDesign Services1677 SUNSET PARK DRIVE, Nolensville, TN 37135$262,186
Revenue and Support

Revenue Composition

Contributions and Grants
$13,866,852
Program Service Revenue
$0
Investment Income
$9,143,788
Other Revenue
$56,755
All Other Contributions
$13,866,852
Change in Net Assets
$5,732,226

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
Yes

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded11$605,955Quoted Stock Price
Total Noncash Contributions11$605,955-

Audited Revenue Reconciliation

Revenue per Audited Statements
$23,067,395
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$24,818,689
Total Revenue per Audited Statements
$47,886,084
Total Revenue per Form 990
$23,067,395
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$9,569,580
Grants and Similar Amounts Paid$7,719,797
Total Fundraising Expense$125,199
Salaries, Compensation, and Employee Benefits$45,792
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$7,719,797--$7,719,797
Travel$1,019,624$17,317$58,695$1,095,636
Fees for Service Investment Mgmnt Fees-$909,926-$909,926
Fees for Services Other$779,139-$32,516$811,655
Office Expenses$393,244$85,361$688$479,293
Other Expenses$332,280$254$0$332,534
All Other Expenses$144,624$15,328$33,049$193,001
Conferences and Meetings$77,286$1,163-$78,449
Advertising$67,773--$67,773
Insurance$52,945--$52,945
Fees for Services Accounting-$48,945-$48,945
Other Salaries and Wages-$45,792-$45,792
Information Technology-$36,003-$36,003
Occupancy$23,615--$23,615
Depreciation Depletion$23,550--$23,550
Fees for Services Legal-$15,573-$15,573
Total Functional Expenses$14,443,174$2,766,796$125,199$17,335,169

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$17,629,383
Expenses per Audited Statements$17,335,169
Total Expenses per Form 990$17,335,169
Expenses Not Reported on Form 990$294,214
Expenses Not Reported on Financial Statements$0
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
Liability for Assets Held for Others$25,045,200
Deferred Gift Liabilities$3,529,843
Other Liabilities$169,605
Operating Lease Liability$24,271
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

Alexander downing (director) and donald smith (president) have a family relationship.

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

The form 990 is made available to the board of directors for review and approval prior to filing.

Form 990, Part VI, Section B, Line 12C

Conflict of interest statements are completed on a regular basis by all directors and are reviewed annually.

Form 990, Part VI, Section B, Line 15

All salary determinations are made by an annual review of indepenent members of the board of directors.

Form 990, Part VI, Section C, Line 19

The foundation makes governing documents, policies, and financial statements available for public inspection at their office during normal business hours.

Filing and Contact Details

Filer

Filer Name
College Heights Foundation Inc
EIN
61-0459494
Phone
2707454597
Address
1703 CHESTNUT STREET, BOWLING GREEN, KY 42101

Signing Officer

Name
Donald Smith
Title
President
Phone
2707454597
Signed
2025-12-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Donald Smith
Formed
1923
Legal Domicile
Ky
Voting Board Members
13
Independent Board Members
13
Employees
3
Volunteers
19

Preparer

Firm
Dean Dorton Allen Ford Pllc
Address
435 N WHITTINGTON PKWY STE 400, LOUISVILLE, KY 40222
Preparer
Amelia Sebastian
Phone
5025896050
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Net actuarial gain from deferred gift liabilities 151,745. Provision for uncollectible pledges -142,642. Beneficial interest in third party trusts 2,370,110. Western kentucky foundation assets merged 98,007,435.

FORM 990, PART XI, LINE 9:

Effective january 1, 2023, western kentucky university foundation ("wkuf") was merged into the college heights foundation's ("foundation") financial statements. As the foundation and wkuf are both charitable organizations designated by the university, this transaction was considered a merger in accordance with financial accounting standards board (fasb) accounting standards update (asu), 2018-08 not-for-profit entities (topic 958).

Page 5, Part V, Line 3A

This return is being amended to show that a 990-t is required.

Financial Statement Notes

PART III, LINE 1A:

A footnote disclosure was not presented in the audited financial statements due to the immaterial value of artwork maintained by and loaned to the foundation.

PART IV, LINE 2B:

Assets held for others represent resources in the possession of, but not under the control of, the foundation. At december 31, 2023, assets held for others consist of the following: wku - regional university excellence trust fund $18,862,062; tincher family fund - hilltopper athletic foundation $114,879; hilltopper athletic foundation $2,469,089; wku alumni association $720,322; lifeworks $2,506,318; green river $45,480; martens alumni center $94,613; wku - non-foundation employee deferred compensation benefit plan $232,437; total assets held for another $25,045,200. Accordingly, the balance sheet reflects a liability for assets held for others in the amount of $25,045,200 as of december 31, 2023.

PART V, LINE 4:

The organization intends to use the endowment funds for support of western kentucky university.

PART X, LINE 2:

When applicable, the foundation recognizes uncertain tax positions using a "more-likely-than-not" approach as defined in the asc. No such uncertain tax positions have been reflected in the accompanying financial statements.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Net actuarial gain from deferred gift liabilities 151,745. Beneficial interest in third party trusts 2,370,110. Non-cash contributions 151,572.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Provision for uncollectible pledges 142,642. Non-cash contributions 151,572.

Raw XML AppendixShowing 400 of 785 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.

Path#Value
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IRS990/AccountsReceivableGrp/EOYAmt00
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0TO PROVIDE ASSISTANCE AND ENCOURAGEMENT TO DESERVING STUDENTS ATTENDING WESTERN KENTUCKY UNIVERSITY THROUGH THE ADMINISTRATION OF SCHOLARSHIPS.
IRS990/AddressChangeInd0X
IRS990/AdvertisingGrp/ProgramServicesAmt067773
IRS990/AdvertisingGrp/TotalAmt067773
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IRS990/Form990PartVIISectionAGrp/PersonNm0PAUL CALICO
IRS990/Form990PartVIISectionAGrp/PersonNm1GEN E DANIEL CHERRY
IRS990/Form990PartVIISectionAGrp/PersonNm2ALEXANDER DOWNING
IRS990/Form990PartVIISectionAGrp/PersonNm3JACK GLASSER
IRS990/Form990PartVIISectionAGrp/PersonNm4CLARENCE GLOVER
IRS990/Form990PartVIISectionAGrp/PersonNm5JENNIFER GREULICH
IRS990/Form990PartVIISectionAGrp/PersonNm6R HARVEY JOHNSTON III
IRS990/Form990PartVIISectionAGrp/PersonNm7MARC A LOVELL
IRS990/Form990PartVIISectionAGrp/PersonNm8JIM MARTENS
IRS990/Form990PartVIISectionAGrp/PersonNm9JERRY MARTIN
IRS990/Form990PartVIISectionAGrp/PersonNm10KIM MENKE
IRS990/Form990PartVIISectionAGrp/PersonNm11DEANNA MILLS
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IRS990/Form990PartVIISectionAGrp/PersonNm13MICHAEL L SIMPSON
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IRS990/Form990PartVIISectionAGrp/PersonNm15GARRY WATKINS
IRS990/Form990PartVIISectionAGrp/PersonNm16MICHELLE WELLS
IRS990/Form990PartVIISectionAGrp/PersonNm17BOB YOUNG
IRS990/Form990PartVIISectionAGrp/PersonNm18TIMOTHY CABONI
IRS990/Form990PartVIISectionAGrp/PersonNm19JESSICA CARVER
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IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18WKU PRESEIDENT (EX-OFFICIO BOARD MEMBER)
IRS990/Form990PartVIISectionAGrp/TitleTxt19VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt20PRESIDENT
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IRS990/MissionDesc0THE COLLEGE HEIGHTS FOUNDATION PROVIDES ASSISTANCE AND ENCOURAGEMENT TO DESERVING STUDENTS WHILE ADVANCING WESTERN KENTUCKY UNIVERSITY BY OFFERING FINANCIAL SUPPORT. THE CHF SERVES AS THE OFFICIAL REPOSITORY FOR PRIVATE GIFTS IN SUPPORT OF WKU AND IS COMMITTED TO SUPPORTING THE UNIVERSITY'S MISSION BY RECEIVING, INVESTING, STEWARDING, AND DISBURSING PRIVATE GIFTS IN ACCORDANCE WITH DONOR INTENT.
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