Civic Intelligence

Hodges University Foundation Inc

990 • Fiscal year 2011 • EIN 65-1176465

Jul 01, 2010 to Jun 30, 2011 • Filed on Mar 06, 2012

Organization Profile
2655 Northbrooke Drive34119
Siviq Scores

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

Liabilities / Assets

5th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2011 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2011

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2011

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2011

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2011

Asset Growth

90th percentile

29%

Faster asset growth than 90% of similar nonprofits.

2011 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2010 to 2011

Revenue Growth

Score unavailable

No value available

No valid filing value is available for this score.

Balance Sheet
Liabilities / Assets5th percentile

Assets

Up

$5,013,710

Up $1,136,255 (+29%) from 2010

Net Assets

Up

$5,013,710

Up $1,136,255 (+29%) from 2010

Liabilities

Flat

$0

Flat from 2010

Revenue And Expenses
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

-

No earlier filing loaded for comparison.

Expenses

Flat

$0

Flat from 2010

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth90th percentile

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

$6.0M$4.0M$2.0M$0Assets 2010: $3,877,455Liabilities 2010: $0Net Assets 2010: $3,877,4552010Assets 2011: $5,013,710Liabilities 2011: $0Net Assets 2011: $5,013,7102011Assets 2012: $4,674,359Liabilities 2012: $0Net Assets 2012: $4,674,3592012Assets 2013: $4,676,878Liabilities 2013: $0Net Assets 2013: $4,676,8782013

Highlighted filing

2011

Assets$5,013,710
Liabilities$0
Net Assets$5,013,710
Open 2011 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$1.0M$500K$0-$500KExpenses 2010: $02010Expenses 2011: $02011Revenue 2012: $88,914Expenses 2012: $150,000Net Income 2012: -$61,0862012Revenue 2013: $775,967Expenses 2013: $227,602Net Income 2013: $548,3652013

Highlighted filing

2011

Revenue-
Expenses$0
Net Income-
Open 2011 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2010 to Jun 30, 2011
Signed
Mar 6, 2012
Return Version
2010v3.4
Gross Receipts
$1,056,287
Filing and Contact Details

Filer

EIN
65-1176465
Raw XML AppendixShowing 400 of 514 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/Form990ScheduleDPartXIV/Explanation0THE HODGES UNIVERSITY FOUNDATION, INC. ENDOWMENT FUNDS ARE INVESTED TO PRODUCE GAINS THAT ARE TO BE DISTRIBUTED AS SUPPORT TO HODGES UNIVERSITY, INC. ACCORDING TO THE INVESTMENT AND PAYOUT POLICIES ADOPTED BY THE HODGES UNIVERSITY FOUNDATION, INC. BOARD OF DIRECTORS.
IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation1THE UNIVERSITY AND FOUNDATION ARE TAX-EXEMPT ORGANIZATIONS UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THEY ARE NOT CONSIDERED A PRIVATE FOUNDATION AND CONTRIBUTIONS ARE CONSIDERED TAX DEDUCTIBLE. THE UNIVERSITY AND FOUNDATION ARE SUBJECT TO FEDERAL INCOME TAX ONLY ON NET UNRELATED BUSINESS INCOME UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. FOR THE YEARS ENDED JUNE 30, 2011 AND 2010, THE UNIVERSITY AND FOUNDATION HAVE NO OBLIGATION FOR UNRELATED BUSINESS INCOME TAX. ACCORDINGLY, NO PROVISIONS FOR FEDERAL OR STATE INCOME TAXES ARE REQUIRED. THE UNIVERSITY AND FOUNDATION HAVE ADOPTED THE INCOME TAX STANDARD FOR UNCERTAIN TAX POSITIONS. AS A RESULT OF THE IMPLEMENTATION, THE UNIVERSITY AND FOUNDATION EVALUATED ITS TAX POSITIONS AND DETERMINED IT HAS NO UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2011 AND 2010. THE UNIVERSITY AND FOUNDATION'S 2008 THROUGH 2010 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES.
IRS990ScheduleD/Form990ScheduleDPartXIV/Identifier0DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS:
IRS990ScheduleD/Form990ScheduleDPartXIV/Identifier1DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48:
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IRS990ScheduleJ/Form990ScheduleJPartIII/Explanation0TERRY P. MCMAHAN - CONTRIBUTION TO A 457(F) NON-QUALIFIED EXECUTIVE RETIREMENT PLAN - $195,792. THE AMOUNT REPORTED ON SCHEDULE J COLUMN B(III) IS THE AMOUNT WHICH BECAME TAXABLE TO THE INDIVIDUAL IN 2010. JOHN H. WHITE - CONTRIBUTION TO A 457(F) NON-QUALIFIED EXECUTIVE RETIREMENT PLAN - $145,338. THE AMOUNT REPORTED ON SCHEDULE J COLUMN B(III) IS THE AMOUNT WHICH BECAME TAXABLE TO THE INDIVIDUAL IN 2010.
IRS990ScheduleJ/Form990ScheduleJPartIII/Explanation1THE UNIVERSITY ESTABLISHED A DEFINED BENEFIT EXECUTIVE RETIREMENT PLAN FOR THREE KEY EXECUTIVES ON JULY 1, 2003. THE PLAN CALLS FOR AN ACCUMULATION OF 3% PER YEAR OF SERVICE UP TO A MAXIMUM OF 75%. THAT PERCENTAGE IS THEN APPLIED TO THE AVERAGE OF THE MOST RECENT FIVE YEARS' SALARY FOR EACH PARTICIPANT, FACTORED THROUGH AN ACTUARIAL COMPUTATION BASED ON A STANDARD MORTALITY TABLE. THE PLAN IS FUNDED ENTIRELY BY HODGES UNIVERSITY, AND NO HODGES UNIVERSITY FOUNDATION FUNDS ARE USED FOR THIS PLAN. THE PLAN IS A NONQUALIFIED DEFERRED COMPENSATION PLAN, COVERED BY IRC SECTION 457(F) FOR TAX EXEMPT ENTITIES. PARTICIPANTS BECOME VESTED IN THE PLAN UPON SEPARATION FROM SERVICE ON OR AFTER REACHING NORMAL RETIREMENT AGE (AGE 60), OR THROUGH OTHER EVENTS ASSOCIATED WITH DEATH OR DISABILITY. UNDER SECTION 457(F), THE COMPENSATION CAN ONLY BE DEFERRED AS LONG AS THE BENEFIT IS SUBJECT TO SUBSTANTIAL RISK OF FORFEITURE. THE UNIVERSITY HAS INTERPRETED THIS TO MEAN THAT THE PARTICIPANTS MUST BE TAXED ON THE BENEFIT ACCRUED ON THEIR 60TH BIRTHDAYS, AS WELL AS ANNUALLY FOR ANY ADDITIONAL ACCRUED BENEFIT, EVEN THOUGH THE BENEFITS WILL NOT BE DISTRIBUTED UNTIL AFTER THE PARTICIPANTS RETIRE. THE PLAN CONTAINS A PROVISION THAT ALLOWS THE UNIVERSITY TO ADVANCE THE TAXES DUE IN THESE CIRCUMSTANCES. SUCH TAXES ADVANCED REDUCE THE REMAINING LIABILITY TO BE PAID TO THE PARTICIPANTS. ALTHOUGH THE PLAN ITSELF IS UNFUNDED, THE UNIVERSITY ALSO ESTABLISHED AN EXECUTIVE RETIREMENT TRUST IN 2003 TO ACCUMULATE FUNDS THROUGH LIFE INSURANCE POLICIES FOR ALL THREE PARTICIPANTS. THE ANNUAL CONTRIBUTION TO THE INSURANCE POLICIES IS DETERMINED BY ACTUARIAL COMPUTATION WHICH WILL ACCUMULATE TO A CASH VALUE APPROXIMATING THE PROJECTED RETIREMENT LIABILITY FOR EACH PARTICIPANT. THE BENEFICIARY OF THE LIFE INSURANCE POLICIES IS THE EXECUTIVE RETIREMENT TRUST. NONE OF THE AMOUNTS RELATED TO THE EXECUTIVE RETIREMENT PLAN WHICH ARE REQUIRED TO BE REPORTED IN FORM 990 PART VII AND FORM 990 SCHEDULE J PART II HAVE BEEN DISBURSED TO THE PARTICIPANTS, NOR ARE THE AMOUNTS AVAILABLE TO THE PARTICIPANTS UNTIL THEY RETIRE. SCHEDULE J COLUMN F DETAILS THE PORTION OF THE AMOUNTS REPORTED IN COLUMN C THAT WAS REPORTED IN PREVIOUS YEARS.
IRS990ScheduleJ/Form990ScheduleJPartIII/Explanation2FOR THE PURPOSES OF DETERMINING COMPENSATION, THE FOUNDATION RELIED ON A RELATED ORGANIZATION TO ESTABLISH COMPENSATION OF THE PRESIDENT. THE RELATED ORGANIZATION USED THE FOLLOWING PRACTICES FOR ESTABLISHING COMPENSATION FOR THIS POSITION: COMPENSATION COMMITTEE, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.
IRS990ScheduleJ/Form990ScheduleJPartIII/Identifier0SUPPLEMENTAL INFORMATION
IRS990ScheduleJ/Form990ScheduleJPartIII/Identifier1SUPPLEMENTAL INFORMATION
IRS990ScheduleJ/Form990ScheduleJPartIII/ReturnReference0PART I, LINE 4B
IRS990ScheduleJ/Form990ScheduleJPartIII/ReturnReference1PART III
IRS990ScheduleJ/Form990ScheduleJPartIII/ReturnReference2PART III
IRS990ScheduleJ/Form990ScheduleJPartII/NamePerson0FREDERICK NERONE
IRS990ScheduleJ/Form990ScheduleJPartII/NamePerson1TERRY P MCMAHAN
IRS990ScheduleJ/Form990ScheduleJPartII/NamePerson2JOHN W WHITE
IRS990ScheduleJ/Form990ScheduleJPartII/NamePerson3LOUIS TRAINA
IRS990ScheduleJ/Form990ScheduleJPartII/NontaxableBenefitsFilingOrg00
IRS990ScheduleJ/Form990ScheduleJPartII/NontaxableBenefitsFilingOrg10
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IRS990ScheduleJ/Form990ScheduleJPartII/NontaxableBenefitsRelatedOrgs15640
IRS990ScheduleJ/Form990ScheduleJPartII/NontaxableBenefitsRelatedOrgs25640
IRS990ScheduleJ/Form990ScheduleJPartII/NontaxableBenefitsRelatedOrgs35640
IRS990ScheduleJ/Form990ScheduleJPartII/OtherCompensationFilingOrg00
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IRS990ScheduleJ/Form990ScheduleJPartII/TotalCompensationRelatedOrgs3185185
IRS990ScheduleJ/InitialContractException00
IRS990/ScheduleJRequired01
IRS990ScheduleJ/SeverancePayment00
IRS990ScheduleJ/SupplementalNonqualRetirePlan01
IRS990ScheduleM/AnyPropertyThatMustBeHeld00
IRS990ScheduleM/Form990ScheduleMPartII/Explanation0SECURITIES ARE RECEIVED AND LIQUIDATED BY CHARLES SCHWAB & COMPANY.
IRS990ScheduleM/Form990ScheduleMPartII/Identifier0THIRD PARTY USE:
IRS990ScheduleM/Form990ScheduleMPartII/ReturnReference0PART I, LINE 32B:
IRS990ScheduleM/ReviewProcessUnusualNCGifts01
IRS990ScheduleM/SecuritiesPubliclyTraded/MethodOfDeterminingRevenues0STOCK MARKET QUOTES
IRS990ScheduleM/SecuritiesPubliclyTraded/NonCashCheckbox0X
IRS990ScheduleM/SecuritiesPubliclyTraded/NoncashContribsRptdF990024662
IRS990ScheduleM/SecuritiesPubliclyTraded/NumberOfContributions01
IRS990ScheduleM/ThirdPartiesUsed01
IRS990ScheduleO/GeneralExplanation/Explanation0T. MCMAHAN, J. WHITE, F. NERONE, AND P. MEMOLI HAVE A BUSINESS RELATIONSHIP.
IRS990ScheduleO/GeneralExplanation/Explanation1MANAGEMENT WILL UNDERTAKE A COMPREHENSIVE REVIEW OF THE FORM 990 AND ITS SCHEDULES IMMEDIATELY UPON ITS COMPLETION, AND WILL ADDRESS ALL OF ITS QUESTIONS AND CONCERNS WITH THE PREPARER. THE GOVERNING BOARD HAS DELEGATED THE RESPONSIBILITY FOR REVIEWING THE 990 RETURN PRIOR TO FILING TO A REVIEW COMMITTEE COMPOSED OF THE CURRENT CHAIRMAN, FORMER CHAIRMAN, LIAISON TO THE UNIVERSITY BOARD OF TRUSTEES, AND THE TREASURER. THIS COMMITTEE REVIEWS THE RETURN THOROUGHLY PRIOR TO FILING.
IRS990ScheduleO/GeneralExplanation/Explanation2ALL TRUSTEES, OFFICERS AND KEY EMPLOYEES OF THE UNIVERSITY ARE REQUIRED TO SUBMIT ANNUAL DISCLOSURE STATEMENTS. THE STATEMENTS ARE REVIEWED BY THE SENIOR MANAGEMENT AND THE INDEPENDENT AUDITOR TO DETERMINE IF ANY RELATIONSHIPS NEED TO BE DISCLOSED IN THE AUDITED FINANCIAL STATEMENTS OR THE FORM 990. IN CASE OF ANY POTENTIAL REAL OR PERCEIVED CONFLICT OF INTEREST, AFFILIATED PERSONS ARE EXPECTED TO DISCLOSE THE CONFLICT IN ADVANCE. ONCE SUCH A DISCLOSURE HAS BEEN MADE, THE CHAIRMAN OF THE BOARD OF TRUSTEES SHALL DETERMINE WHETHER OR NOT THERE IS A POTENTIAL CONFLICT OF INTEREST. IF IT IS DETERMINED THAT THERE IS A POTENTIAL CONFLICT OF INTEREST, THE AFFILIATED PERSON INVOLVED SHALL ABSTAIN FROM VOTING AND SHALL NOT PARTICIPATE IN THE DISCUSSION OF THE MATTER AT ISSUE EXCEPT TO STATE BRIEFLY HIS OR HER POSITION IN THE MATTER AND TO ANSWER SPECIFIC QUESTIONS. THIS ABSTENTION SHALL BE REFLECTED IN THE MEETING MINUTES.
IRS990ScheduleO/GeneralExplanation/Explanation3NO EMPLOYEES ARE PAID BY THE ORGANIZATION. OFFICERS' COMPENSATION OF THE RELATED ORGANIZATION, HODGES UNIVERSITY, INC. IS DETERMINED BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES, WHICH CONSIDERS COMPARABILITY DATA AMONG MANY OTHER FACTORS. MINUTES ARE PRODUCED AT EACH MEETING OF THE COMMITTEE AND THEIR RECOMMENDATIONS MUST BE APPROVED BY THE FULL BOARD OF TRUSTEES.
IRS990ScheduleO/GeneralExplanation/Explanation4THE FOUNDATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/GeneralExplanation/Explanation5NET UNREALIZED GAINS ON INVESTMENTS: 700,588.
IRS990ScheduleO/GeneralExplanation/Identifier0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/GeneralExplanation/Identifier1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/GeneralExplanation/Identifier2CHANGES IN NET ASSETS OR FUND BALANCES:
IRS990ScheduleO/GeneralExplanation/ReturnReference0FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/GeneralExplanation/ReturnReference1FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/GeneralExplanation/ReturnReference2FORM 990, PART XI, LINE 5:
IRS990/ScheduleORequired01
IRS990ScheduleR/ExchangeOfAssets00
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/AddressLine102655 NORTHBROOKE DRIVE

Document Assets

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Filings

Displayed year

2011 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$5,013,710
Liabilities
$0
Net assets
$5,013,710
Revenue
-
Expenses
$0
Net income
-
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.68$0.00$4.68$0.78$0.23$0.55
2012Summary only. Only limited summary data is available for this year.$4.67$0.00$4.67$0.09$0.15$0.06
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.01$0.00$5.01$0.00
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.88$0.00$3.88$0.00