Civic Intelligence

Razorback Foundation Inc.

990 • Fiscal year 2020 • EIN 71-0540644

Jul 01, 2019 to Jun 30, 2020 • Filed on May 06, 2021

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

7th percentile

0.00x

Higher debt load relative to assets than 7% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2020

Liabilities / Revenue

5th percentile

0.01x

Higher debt load relative to revenue than 5% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2020

Net Margin

29th percentile

-1.2%

Higher net margin than 29% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2020

Top Officer Pay

37th percentile

$276,988

Higher top officer pay than 37% of similar nonprofits.

Top officer pay equals 1.0% of source-year revenue.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2020

Asset Growth

23rd percentile

-1.0%

Faster asset growth than 23% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2019 to 2020

Revenue Growth

19th percentile

-15%

Faster revenue growth than 19% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2019 to 2020

Assets

Down

$62,644,598

Down $626,556 (-1.0%) from 2019

Net Assets

Down

$62,371,951

Down $321,547 (-0.5%) from 2019

Liabilities

Down

$272,647

Down $305,009 (-53%) from 2019

Revenue

Down

$27,182,758

Down $4,694,414 (-15%) from 2019

Expenses

Down

$27,517,037

Down $3,325,570 (-11%) from 2019

Net Income

Down

-$334,279

Down $1,368,844 (-132%) from 2019

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

2020

Assets$62,644,598
Liabilities$272,647
Net Assets$62,371,951

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

2020

Revenue$27,182,758
Expenses$27,517,037
Net Income-$334,279
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 6, 2021
Return Version
2019v5.2
Gross Receipts
$39,387,689
Mission and Program Overview

Mission

Support of intercollegiate athletics at the university of arkansas

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$25,832,840$26,895,510▲ $1,062,670
Investments Other Securities$8,255,259$13,399,369▲ $5,144,110
Investments in Publicly Traded Securities$5,724,398$8,943,682▲ $3,219,284
Savings and Temporary Cash Investments$8,880,665$8,392,172▼ $488,493
Land, Buildings, and Equipment, Net$12,118,044$2,578,954▼ $9,539,090
Accounts Receivable$1,804,609$1,864,502▲ $59,893
Prepaid Expenses and Deferred Charges$655,339$570,409▼ $84,930
Total Assets$63,271,154$62,644,598▼ $626,556
Liabilities
Accounts Payable and Accrued Expenses$577,656$272,647▼ $305,009
Total Liabilities$577,656$272,647▼ $305,009
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$43,664,760$40,147,012▼ $3,517,748
Net Assets With Donor Restrictions$19,028,738$22,224,939▲ $3,196,201
Total Net Assets Fund Balance$62,693,498$62,371,951▼ $321,547
Total Liabilities and Net Assets / Fund Balance$63,271,154$62,644,598▼ $626,556

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,678,954$3,799,120$5,478,074
Land$900,000--
Other Securities$5,968,585--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$4,971,437$40,974▲ $137,919-$4,951,403
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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Scott VaradyExecutive DirectorFT$250,824$26,164$276,988
Billye VetetoChief Financial OfficerFT$145,246$19,611$164,857
Marvin CastonSenior Director of DevelopmentFT$123,090$26,267$149,357
John MatskoSenior Associate DirectorFT$121,251$25,993$147,244
Mica StrotherSenior Director of DevelopmentFT$123,701$22,342$146,043

Board Members and Trustees

NameTitle
Rick MasseyChair and President
Charles RedfieldVice President
Ed DrillingDirector
Jim WilliamsDirector
John RutledgeDirector
Ken MourtonDirector
Kevin ScanlonDirector
Lisa WalkerDirector
Mindy WestDirector
Todd SimmonsDirector
Angela RyanSecretary
Rick ChapmanTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Bret BielemaGuaranty Payment12 CAMP ROAD, Foxboro, MA 02035$320,833
Revenue and Support

Revenue Composition

Contributions and Grants
$27,051,672
Program Service Revenue
$0
Investment Income
$38,292
Other Revenue
$92,794
All Other Contributions
$27,051,672
Change in Net Assets
$-334,279

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 Traded21$1,211,877Hi/lo Avg Stock Price
Total Noncash Contributions21$1,211,877-

Audited Revenue Reconciliation

Revenue per Audited Statements
$27,172,934
Revenue Not Reported on Financial Statements
$9,824
Revenue Not Reported on Form 990
$1,540,981
Other Revenue Adjustments
$9,824
Total Revenue per Audited Statements
$28,713,915
Total Revenue per Form 990
$27,182,758
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$23,537,263
Other Expenses$2,134,656
Salaries, Compensation, and Employee Benefits$1,845,118
Total Fundraising Expense$1,381,061
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$23,537,263--$23,537,263
Other Salaries and Wages-$611,488$489,335$1,100,823
All Other Expenses-$465,222$409,082$874,304
Depreciation Depletion-$539,090-$539,090
Current Officers, Directors, Trustees, and Key Employees-$305,416$137,449$442,865
Fees for Services Other-$170,631$43,612$214,243
Occupancy-$92,969$42,465$135,434
Office Expenses-$122,015$2,398$124,413
Travel-$2,030$104,477$106,507
Other Employee Benefits-$55,392$50,625$106,017
Payroll Taxes-$48,094$52,875$100,969
Pension Plan Contributions-$48,363$46,081$94,444
Fees for Services Legal-$69,802-$69,802
Insurance-$24,442$2,662$27,104
Fees for Services Accounting-$24,200-$24,200
Fees for Service Investment Mgmnt Fees-$18,459-$18,459
Conferences and Meetings-$1,100-$1,100
Total Functional Expenses$23,537,263$2,598,713$1,381,061$27,517,037

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$29,035,462
Total Expenses per Form 990$27,517,037
Expenses per Audited Statements$27,505,440
Expenses Not Reported on Form 990$1,530,022
Expenses Not Reported on Financial Statements$11,597
Other Expense Adjustments$11,597
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
University of ArkansasFayetteville, AR-Athletic Department Expenses$13,411,010
University of ArkansasFayetteville, AR-Capital Construction$9,927,326
University of ArkansasFayetteville, AR-Scholarships$198,927
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 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
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 4

By-laws were amended in november 2019.

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 all 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
2021-05-06
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
18
Volunteers
12

Preparer

Firm
Hogantaylor Llp
Address
516 EAST MILLSAP ROAD SUITE 202, FAYETTEVILLE, AR 72703
Preparer
W Lyndel Lackey
Phone
4795219191
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

A club income & expenses 1,773. Change in cash surrender value life insurance -4,872. Provision for uncollectible accounts -577,276.

Financial Statement Notes

PART V, LINE 4:

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

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Loss on sale of property 148,905.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

A CLUB REVENUE 9,824.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Change in cash surrender value life insurance 4,872. Loss on sale of property 148,905. Provision for uncollectible accounts 577,276.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

A CLUB EXPENSES 11,597.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIR AND PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
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/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt03204931
IRS990/LessRentalExpensesGrp/RealAmt00
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
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IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0SUPPORT OF INTERCOLLEGIATE ATHLETICS AT THE UNIVERSITY OF ARKANSAS
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt062693498
IRS990/NetAssetsOrFundBalancesEOYAmt062371951
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IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-225097
IRS990/NetRentalIncomeOrLossGrp/ExclusionAmt030000
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IRS990/NetUnrlzdGainsLossesInvstAmt0472158
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt043664760
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt040147012
IRS990/NoncashContributionsAmt01211877
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/FundraisingAmt042465
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IRS990/OccupancyGrp/TotalAmt0135434
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IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0122015
IRS990/OfficeExpensesGrp/TotalAmt0124413
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IRS990/OtherRevenueTotalAmt062794
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt0489335
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0611488
IRS990/OtherSalariesAndWagesGrp/TotalAmt01100823
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt052875
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt048094
IRS990/PayrollTaxesGrp/TotalAmt0100969
IRS990/PensionPlanContributionsGrp/FundraisingAmt046081
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt048363
IRS990/PensionPlanContributionsGrp/TotalAmt094444
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt025832840
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IRS990/PoliticalCampaignActyInd00
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0570409
IRS990/PrincipalOfficerNm0SCOTT VARADY
IRS990/ProfessionalFundraisingInd00
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IRS990/ProgSrvcAccomActy2Grp/GrantAmt09927326
IRS990/ProgSrvcAccomActy3Grp/Desc0PAYMENTS TO AND ON BEHALF OF THE UNIVERSITY OF ARKANSAS ATHLETIC DEPARTMENT FOR SCHOLARSHIPS.
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IRS990/PYTotalProfFndrsngExpnsAmt00
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IRS990/QuidProQuoContributionsInd01
IRS990/QuidProQuoContriDisclInd01
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-334279
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/RealAmt030000
IRS990/ReportInvestmentsOtherSecInd01
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt08880665
IRS990/SavingsAndTempCashInvstGrp/EOYAmt08392172
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt028135776
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt036524256
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt048909828
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0293389
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IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt080549
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0589086
IRS990ScheduleA/PublicSupportCY170Pct00.90900
IRS990ScheduleA/PublicSupportPY170Pct00.88820
IRS990ScheduleA/PublicSupportTotal170Amt0158260923
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt031165977
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IRS990ScheduleA/TotalSupportAmt0174101517
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
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IRS990/ScheduleBRequiredInd01
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IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt040974
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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