Civic Intelligence

Razorback Foundation Inc.

990 • Fiscal year 2019 • EIN 71-0540644

Jul 01, 2018 to Jun 30, 2019 • Filed on May 13, 2020

1295 S Razorback Road Ste AFayetteville, AR 72701

(479) 443-9000

Siviq Scores

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

Liabilities / Assets

9th percentile

0.01x

Higher debt load relative to assets than 9% of similar nonprofits.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2019

Liabilities / Revenue

6th percentile

0.02x

Higher debt load relative to revenue than 6% of similar nonprofits.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2019

Net Margin

50th percentile

3.2%

Higher net margin than 50% of similar nonprofits.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2019

Top Officer Pay

37th percentile

$279,190

Higher top officer pay than 37% of similar nonprofits.

Top officer pay equals 0.9% of source-year revenue.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2019

Asset Growth

10th percentile

-5.1%

Faster asset growth than 10% of similar nonprofits.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2018 to 2019

Revenue Growth

70th percentile

10%

Faster revenue growth than 70% of similar nonprofits.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2018 to 2019

Assets

Down

$63,271,154

Down $3,419,457 (-5.1%) from 2018

Net Assets

Up

$62,693,498

Up $6,471,976 (+12%) from 2018

Liabilities

Down

$577,656

Down $9,891,433 (-94%) from 2018

Revenue

Up

$31,877,172

Up $2,930,631 (+10%) from 2018

Expenses

Down

$30,842,607

Down $21,606,423 (-41%) from 2018

Net Income

Up

$1,034,565

Up $24,537,054 (+104%) from 2018

Historical Trend

Balance Sheet Trend

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

$100M$50M$0Assets 2011: $30,949,732Liabilities 2011: $5,331,110Net Assets 2011: $25,618,6222011Assets 2012: $52,072,220Liabilities 2012: $4,984,375Net Assets 2012: $47,087,8452012Assets 2013: $44,017,269Liabilities 2013: $4,756,815Net Assets 2013: $39,260,4542013Assets 2014: $49,488,242Liabilities 2014: $4,240,078Net Assets 2014: $45,248,1642014Assets 2015: $53,473,510Liabilities 2015: $1,421,767Net Assets 2015: $52,051,7432015Assets 2016: $75,388,665Liabilities 2016: $1,029,489Net Assets 2016: $74,359,1762016Assets 2017: $79,661,943Liabilities 2017: $672,251Net Assets 2017: $78,989,6922017Assets 2018: $66,690,611Liabilities 2018: $10,469,089Net Assets 2018: $56,221,5222018Assets 2019: $63,271,154Liabilities 2019: $577,656Net Assets 2019: $62,693,4982019Assets 2020: $62,644,598Liabilities 2020: $272,647Net Assets 2020: $62,371,9512020Assets 2021: $72,537,377Liabilities 2021: $292,595Net Assets 2021: $72,244,7822021Assets 2022: $83,545,180Liabilities 2022: $352,787Net Assets 2022: $83,192,3932022Assets 2023: $93,945,531Liabilities 2023: $494,208Net Assets 2023: $93,451,3232023Assets 2024: $92,023,235Liabilities 2024: $365,256Net Assets 2024: $91,657,9792024

Highlighted filing

2019

Assets$63,271,154
Liabilities$577,656
Net Assets$62,693,498

Operations Trend

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

$60M$40M$20M$0-$20M-$40MRevenue 2011: $29,476,107Expenses 2011: $14,855,060Net Income 2011: $14,621,0472011Expenses 2012: $17,065,3162012Expenses 2013: $37,375,6262013Revenue 2014: $29,163,830Expenses 2014: $24,741,497Net Income 2014: $4,422,3332014Revenue 2015: $40,631,501Expenses 2015: $33,566,442Net Income 2015: $7,065,0592015Revenue 2016: $49,552,128Expenses 2016: $26,355,172Net Income 2016: $23,196,9562016Revenue 2017: $37,239,698Expenses 2017: $34,102,926Net Income 2017: $3,136,7722017Revenue 2018: $28,946,541Expenses 2018: $52,449,030Net Income 2018: -$23,502,4892018Revenue 2019: $31,877,172Expenses 2019: $30,842,607Net Income 2019: $1,034,5652019Revenue 2020: $27,182,758Expenses 2020: $27,517,037Net Income 2020: -$334,2792020Revenue 2021: $26,130,749Expenses 2021: $21,722,204Net Income 2021: $4,408,5452021Revenue 2022: $32,561,743Expenses 2022: $18,328,627Net Income 2022: $14,233,1162022Revenue 2023: $44,580,109Expenses 2023: $35,589,796Net Income 2023: $8,990,3132023Revenue 2024: $33,289,759Expenses 2024: $36,361,367Net Income 2024: -$3,071,6082024

Highlighted filing

2019

Revenue$31,877,172
Expenses$30,842,607
Net Income$1,034,565
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
May 13, 2020
Return Version
2018v3.1
Gross Receipts
$38,847,346
Mission and Program Overview

Mission

Support of intercollegiate athletics at the university of arkansas

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$21,506,466$25,832,840▲ $4,326,374
Land, Buildings, and Equipment, Net$14,436,709$12,118,044▼ $2,318,665
Savings and Temporary Cash Investments$8,786,040$8,880,665▲ $94,625
Investments Other Securities$10,671,978$8,255,259▼ $2,416,719
Investments in Publicly Traded Securities$8,814,370$5,724,398▼ $3,089,972
Accounts Receivable$1,745,744$1,804,609▲ $58,865
Prepaid Expenses and Deferred Charges$729,304$655,339▼ $73,965
Total Assets$66,690,611$63,271,154▼ $3,419,457
Liabilities
Other Liabilities$9,318,604$0▼ $9,318,604
Accounts Payable and Accrued Expenses$1,150,485$577,656▼ $572,829
Total Liabilities$10,469,089$577,656▼ $9,891,433
Net Assets / Fund Balance
Unrestricted Net Assets$25,179,876$43,664,760▲ $18,484,884
Temporarily Rstr Net Assets$27,431,100$15,360,892▼ $12,070,208
Permanently Rstr Net Assets$3,610,546$3,667,846▲ $57,300
Total Net Assets Fund Balance$56,221,522$62,693,498▲ $6,471,976
Total Liabilities and Net Assets / Fund Balance$66,690,611$63,271,154▼ $3,419,457

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$2,218,044$3,260,030$5,478,074
Land$9,900,000--
Other Securities$3,144,709--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$4,866,561$57,300▲ $235,133-$4,971,431
2017$4,387,615$235,336▲ $374,778-$4,866,565
2016$3,954,337$112,664▲ $541,839-$4,387,615
2015$3,752,820$354,200▲ $9,884-$3,954,337
2014$3,513,385$187,750▲ $255,336-$3,752,820
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Scott VaradyExecutive DirectorFT$248,056$31,134$279,190
Billye VetetoChief Financial OfficerFT$139,183$23,929$163,112
Marvin CastonSenior Director of DevelopmentFT$121,771$25,965$147,736
John MatskoSenior Associate DirectorFT$119,715$25,701$145,416
Mica StrotherSenior Director of DevelopmentFT$122,252$22,076$144,328

Board Members and Trustees

NameTitle
Angela RyanDirector
Charles RedfieldDirector
Ed DrillingDirector
Jim WilliamsDirector
John R Rutledge JrDirector
Ken MourtonDirector
Kevin ScanlonDirector
Lisa WalkerDirector
Mindy WestDirector
Rick ChapmanDirector
Rick MasseyDirector
Todd SimmonsDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Mi-mar Family Enterprises LLCGuaranty Payment12 CAMP ROAD, Foxboro, MA 02035$4,268,333
Dick Idol Studios LLCSpeaking Engagements3446 N HORSE MEADOW DRIVE, Fayetteville, AR 72703$200,000
Van Horn EnterprisesArt CommissioningPO BOX 547, Whitefish, MT 59937$165,000
-Speaking Engagements4708 E MAYWOOD ROAD, Fayetteville, AR 72703$162,500
Revenue and Support

Revenue Composition

Contributions and Grants
$31,165,977
Program Service Revenue
$0
Investment Income
$242,620
Other Revenue
$468,575
All Other Contributions
$31,165,977
Change in Net Assets
$1,034,565

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded20$556,257Hi/lo Avg Stock Price
Total Noncash Contributions20$556,257-

Audited Revenue Reconciliation

Revenue per Audited Statements
$31,841,439
Revenue Not Reported on Financial Statements
$35,733
Revenue Not Reported on Form 990
$4,291,841
Other Revenue Adjustments
$35,733
Total Revenue per Audited Statements
$36,133,280
Total Revenue per Form 990
$31,877,172
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$26,260,246
Other Expenses$2,855,770
Salaries, Compensation, and Employee Benefits$1,726,591
Total Fundraising Expense$1,607,459
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$26,260,246--$26,260,246
All Other Expenses$187,563$477,845$480,175$1,145,583
Other Salaries and Wages-$595,840$388,889$984,729
Depreciation Depletion-$540,276-$540,276
Current Officers, Directors, Trustees, and Key Employees-$308,442$141,567$450,009
Fees for Services Other-$211,468$213,485$424,953
Travel-$15,601$191,041$206,642
Office Expenses-$159,974$20,753$180,727
Occupancy-$98,102$36,983$135,085
Other Employee Benefits-$58,497$44,970$103,467
Payroll Taxes-$62,534$36,938$99,472
Pension Plan Contributions-$52,867$36,047$88,914
Fees for Services Management-$60,295-$60,295
Insurance-$49,425-$49,425
Fees for Services Legal-$42,498-$42,498
Conferences and Meetings-$11,643$16,611$28,254
Fees for Services Accounting-$24,690-$24,690
Fees for Service Investment Mgmnt Fees-$17,342-$17,342
Total Functional Expenses$26,447,809$2,787,339$1,607,459$30,842,607

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$30,842,607
Total Expenses per Audited Statements$29,661,304
Expenses per Audited Statements$23,723,025
Expenses Not Reported on Financial Statements$7,119,582
Other Expense Adjustments$7,119,582
Expenses Not Reported on Form 990$5,938,279
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
University of ArkansasFayetteville, AR-Capital Construction$13,253,267
University of ArkansasFayetteville, AR-Athletic Department Expenses$13,006,979
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
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 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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

The organization has members.

Form 990, Part VI, Section A, Line 7A

Certain members vote annually to elect the board of directors.

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

Form 990 is reviewed by management and the board of directors prior to filing.

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

The conflict of interest policy is reviewed at board meetings.

Form 990, Part VI, Section B, Line 15

The executive committee of the board of directors determines the salary of the executive director. All other salaries are included in the annual budget approved by the board of directors. Further, a third-party was used to perform salary studies for all positions.

Form 990, Part VI, Section C, Line 19

The organization's form 990 is available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Razorback Foundation Inc
EIN
71-0540644
Phone
4794439000
Address
1295 S RAZORBACK ROAD STE A, FAYETTEVILLE, AR 72701

Signing Officer

Name
Billye Veteto
Title
CFO
Phone
4794439000
Signed
2020-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Scott Varady
Formed
1981
Legal Domicile
Ar
Voting Board Members
12
Independent Board Members
12
Employees
19
Volunteers
12

Preparer

Firm
Hogantaylor Llp
Address
688 EAST MILLSAP ROAD SUITE 203, FAYETTEVILLE, AR 72703
Preparer
W Lyndel Lackey
Phone
4795219191
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

A club income & expenses 2,504. Change in cash surrender value life insurance 8,574. Provision for uncollectible accounts -320,255. Change in guaranty payment 7,072,771.

Financial Statement Notes

PART V, LINE 4:

Endowment fund earnings are used for operations, consistent with donor intent.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

A CLUB REVENUE 35,733.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Provision for uncollectible accounts 320,255. Impairment of land 1,800,000.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

A club expenses 38,237. Adjustment to cash surrender value life insurance 8,574. Adjustment to guaranty payment 7,072,771.

Raw XML AppendixShowing 400 of 718 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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IRS990/Form990PartVIISectionAGrp/PersonNm5JOHN R RUTLEDGE JR
IRS990/Form990PartVIISectionAGrp/PersonNm6ANGELA RYAN
IRS990/Form990PartVIISectionAGrp/PersonNm7KEVIN SCANLON
IRS990/Form990PartVIISectionAGrp/PersonNm8TODD SIMMONS
IRS990/Form990PartVIISectionAGrp/PersonNm9LISA WALKER
IRS990/Form990PartVIISectionAGrp/PersonNm10MINDY WEST
IRS990/Form990PartVIISectionAGrp/PersonNm11JIM WILLIAMS
IRS990/Form990PartVIISectionAGrp/PersonNm12SCOTT VARADY
IRS990/Form990PartVIISectionAGrp/PersonNm13BILLYE VETETO
IRS990/Form990PartVIISectionAGrp/PersonNm14JOHN MATSKO
IRS990/Form990PartVIISectionAGrp/PersonNm15MARVIN CASTON
IRS990/Form990PartVIISectionAGrp/PersonNm16MICA STROTHER
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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/TitleTxt12EXECUTIVE DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13CHIEF FINANCIAL OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt14SENIOR ASSOCIATE DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15SENIOR DIRECTOR OF DEVELOPMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt16SENIOR DIRECTOR OF DEVELOPMENT
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IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
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IRS990/MoreThan5000KToOrgInd00
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IRS990/PayrollTaxesGrp/TotalAmt099472
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0280275
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IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt0114275
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt0308351
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt080549
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt0436731
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0963023
IRS990ScheduleA/PublicSupportCY170Pct00.88820
IRS990ScheduleA/PublicSupportPY170Pct00.92020
IRS990ScheduleA/PublicSupportTotal170Amt0165595366
IRS990ScheduleA/SubstantialContributorsTotAmt018324763
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt028135776
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt039184292
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IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$92.0$0.37$91.7$33.3$36.4$3.07
2023Detailed filing. Detailed filing data is available for this year.$93.9$0.49$93.5$44.6$35.6$8.99
2022Detailed filing. Detailed filing data is available for this year.$83.5$0.35$83.2$32.6$18.3$14.2
2021Detailed filing. Detailed filing data is available for this year.$72.5$0.29$72.2$26.1$21.7$4.41
2020Detailed filing. Detailed filing data is available for this year.$62.6$0.27$62.4$27.2$27.5$0.33
2019Detailed filing. Detailed filing data is available for this year.$63.3$0.58$62.7$31.9$30.8$1.03
2018Detailed filing. Detailed filing data is available for this year.$66.7$10.5$56.2$28.9$52.4$23.5
2017Detailed filing. Detailed filing data is available for this year.$79.7$0.67$79.0$37.2$34.1$3.14
2016Detailed filing. Detailed filing data is available for this year.$75.4$1.03$74.4$49.6$26.4$23.2
2015Detailed filing. Detailed filing data is available for this year.$53.5$1.42$52.1$40.6$33.6$7.07
2014Detailed filing. Detailed filing data is available for this year.$49.5$4.24$45.2$29.2$24.7$4.42
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$44.0$4.76$39.3$37.4
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$52.1$4.98$47.1$17.1
2011Summary only. Only limited summary data is available for this year.$30.9$5.33$25.6$29.5$14.9$14.6