Civic Intelligence

Arkansas Tech University Foundation

990 • Fiscal year 2021 • EIN 71-0561120

Jul 01, 2020 to Jun 30, 2021 • Filed on Nov 15, 2021

1509 North BoulderRussellville, AR 72801

(479) 968-0400

Siviq Scores

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

Liabilities / Assets

45th percentile

0.19x

Higher debt load relative to assets than 45% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Liabilities / Revenue

88th percentile

2.78x

Higher debt load relative to revenue than 88% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Net Margin

81st percentile

40%

Higher net margin than 81% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Top Officer Pay

25th percentile

$208,692

Higher top officer pay than 25% of similar nonprofits.

Top officer pay equals 5.6% of source-year revenue.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Asset Growth

76th percentile

24%

Faster asset growth than 76% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2020 to 2021

Revenue Growth

5th percentile

-45%

Faster revenue growth than 5% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2020 to 2021

Assets

Up

$53,279,781

Up $10,288,252 (+24%) from 2020

Net Assets

Up

$42,935,351

Up $6,209,507 (+17%) from 2020

Liabilities

Up

$10,344,430

Up $4,078,745 (+65%) from 2020

Revenue

Down

$3,726,139

Down $3,039,370 (-45%) from 2020

Expenses

Up

$2,218,141

Up $397,023 (+22%) from 2020

Net Income

Down

$1,507,998

Down $3,436,393 (-70%) from 2020

Historical Trend

Balance Sheet Trend

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

$80M$60M$40M$20M$0Assets 2011: $17,329,137Liabilities 2011: $2,641,337Net Assets 2011: $14,687,8002011Assets 2012: $16,964,770Liabilities 2012: $2,670,693Net Assets 2012: $14,294,0772012Assets 2013: $19,059,004Liabilities 2013: $2,971,398Net Assets 2013: $16,087,6062013Assets 2014: $22,741,629Liabilities 2014: $3,623,738Net Assets 2014: $19,117,8912014Assets 2015: $24,452,198Liabilities 2015: $3,397,329Net Assets 2015: $21,054,8692015Assets 2016: $24,876,479Liabilities 2016: $3,245,506Net Assets 2016: $21,630,9732016Assets 2017: $29,518,882Liabilities 2017: $3,865,693Net Assets 2017: $25,653,1892017Assets 2018: $33,252,226Liabilities 2018: $4,375,538Net Assets 2018: $28,876,6882018Assets 2019: $38,185,742Liabilities 2019: $5,642,540Net Assets 2019: $32,543,2022019Assets 2020: $42,991,529Liabilities 2020: $6,265,685Net Assets 2020: $36,725,8442020Assets 2021: $53,279,781Liabilities 2021: $10,344,430Net Assets 2021: $42,935,3512021Assets 2022: $54,871,216Liabilities 2022: $7,840,879Net Assets 2022: $47,030,3372022Assets 2023: $57,906,367Liabilities 2023: $8,940,523Net Assets 2023: $48,965,8442023Assets 2024: $63,858,641Liabilities 2024: $8,950,922Net Assets 2024: $54,907,7192024Assets 2025: $64,632,279Liabilities 2025: $10,425,211Net Assets 2025: $54,207,0682025

Highlighted filing

2021

Assets$53,279,781
Liabilities$10,344,430
Net Assets$42,935,351

Operations Trend

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

$20M$15M$10M$5.0M$0-$5.0MExpenses 2011: $1,651,9772011Expenses 2012: $2,596,7292012Expenses 2013: $1,249,2582013Revenue 2014: $2,877,169Expenses 2014: $1,699,726Net Income 2014: $1,177,4432014Revenue 2015: $4,021,325Expenses 2015: $1,568,246Net Income 2015: $2,453,0792015Revenue 2016: $3,955,056Expenses 2016: $1,771,162Net Income 2016: $2,183,8942016Revenue 2017: $4,239,849Expenses 2017: $2,376,368Net Income 2017: $1,863,4812017Revenue 2018: $4,104,065Expenses 2018: $2,541,656Net Income 2018: $1,562,4092018Revenue 2019: $8,929,385Expenses 2019: $1,954,663Net Income 2019: $6,974,7222019Revenue 2020: $6,765,509Expenses 2020: $1,821,118Net Income 2020: $4,944,3912020Revenue 2021: $3,726,139Expenses 2021: $2,218,141Net Income 2021: $1,507,9982021Revenue 2022: $15,233,363Expenses 2022: $2,823,080Net Income 2022: $12,410,2832022Revenue 2023: $1,816,524Expenses 2023: $3,409,017Net Income 2023: -$1,592,4932023Revenue 2024: $9,609,711Expenses 2024: $6,272,171Net Income 2024: $3,337,5402024Revenue 2025: $5,637,835Expenses 2025: $8,392,362Net Income 2025: -$2,754,5272025

Highlighted filing

2021

Revenue$3,726,139
Expenses$2,218,141
Net Income$1,507,998
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Nov 15, 2021
Return Version
2020v4.0
Gross Receipts
$3,726,139
Mission and Program Overview

Mission

The foundation provides educational support through the granting of scholarship funds to be distributed by arkansas tech university based on academic department and committee selections. The foundation also provides other institutional support to arkansas tech university for the operation of its educational programs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$36,086,109$46,946,052▲ $10,859,943
Investments Other Securities$4,349,072$4,697,964▲ $348,892
Pledges and Grants Receivable$1,209,535$787,337▼ $422,198
Savings and Temporary Cash Investments$1,169,976$713,530▼ $456,446
Cash and Non-Interest-Bearing Accounts$176,837$134,898▼ $41,939
Total Assets$42,991,529$53,279,781▲ $10,288,252
Liabilities
Other Liabilities$6,242,839$10,138,052▲ $3,895,213
Accounts Payable and Accrued Expenses$22,846$206,378▲ $183,532
Total Liabilities$6,265,685$10,344,430▲ $4,078,745
Net Assets / Fund Balance
Net Assets With Donor Restrictions$30,294,658$32,171,457▲ $1,876,799
Net Assets Without Donor Restrictions$6,431,186$10,763,894▲ $4,332,708
Total Net Assets Fund Balance$36,725,844$42,935,351▲ $6,209,507
Total Liabilities and Net Assets / Fund Balance$42,991,529$53,279,781▲ $10,288,252

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$453,624--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$23,295,629$963,593--$24,691,164
2019$20,295,442$3,002,444▲ $6,076-$23,295,629
2018$16,939,490$3,323,638▲ $32,314-$20,295,442
2017$14,859,069$2,471,488▲ $44,422-$16,939,490
2016$13,362,788$1,407,072▲ $89,209-$14,859,069
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Jason GeikenExecutive ViFT$208,692$208,692

Board Members and Trustees

NameTitle
Norma MearesPast Chair
Brad ThresherDirector
Brent GarrettDirector
Bryce MobleyDirector
Cheryl DentonDirector
Danny TrouttDirector
Deana InfieldDirector
Eric BurnettDirector
J W StrattonDirector
Jeff WardDirector
Josh MastersDirector
Luke BradshawDirector
Michael McspaddenDirector
Phillip GrayDirector
Portia ShortDirector
Skot CovertDirector
Steve AndersonDirector
Steve RoseDirector
Todd MeimerstorfDirector
Tom LastovicaDirector
Wayne YoungDirector-vic
Barton AllenDirector/CHA
Laurie BiblerDirector/sec
Jason GeikenExecutive Vice Pres
Revenue and Support

Revenue Composition

Contributions and Grants
$1,993,605
Program Service Revenue
$0
Investment Income
$1,732,534
Other Revenue
$0
All Other Contributions
$1,993,605
Change in Net Assets
$1,507,998

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,726,139
Revenue Not Reported on Form 990
$4,720,107
Total Revenue per Audited Statements
$8,446,246
Total Revenue per Form 990
$3,726,139
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$932,156
Salaries, Compensation, and Employee Benefits$682,852
Total Fundraising Expense$586,837
Grants and Similar Amounts Paid$515,543
Professional Fundraising Fees$87,590

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$72,407$111,198$499,247$682,852
Grants to Domestic Individuals$515,543--$515,543
All Other Expenses$254,382$9,194-$263,576
Fees for Services Professional Fundraising--$87,590$87,590
Fees for Services Lobbying-$55,000-$55,000
Other Expenses$50,000--$50,000
Fees for Services Accounting-$26,008-$26,008
Occupancy$2,440$1,200-$3,640
Travel$3,373--$3,373
Fees for Services Other$1,248--$1,248
Insurance$1,176--$1,176
Total Functional Expenses$1,428,704$202,600$586,837$2,218,141

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,236,739
Expenses per Audited Statements$2,218,141
Total Expenses per Form 990$2,218,141
Expenses Not Reported on Form 990$18,598
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$87,590
Political and Lobbying Activity
Political campaign activity
Yes
Lobbying activity
Yes
Subject to proxy tax
No

Reported Spending and Taxes

Line ItemAmount
Political Expenditures$55,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
University Funds Under Management$9,870,595
Deferred Compensation Payable$216,162
Liability for Annuities$51,295
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
No
Other officer compensation reviewed
No
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, Page 6, Part VI, Line 2

Deana infield josh masters partner partner members of same partnership

Form 990, Page 6, Part VI, Line 11B

Return is reviewed by audit committee members prior to filing. All board members are provided copy within 30 days.

Form 990, Page 6, Part VI, Line 12C

Annually, all board members are provided copy of conflict of interest statement and sign statement agreeing to abide by the policy and that there have been no conflicts of interest.

Form 990, Page 6, Part VI, Line 17

Utah, wisconsin, colorado, alaska, louisiana, nevada, washington, ohio, oklahoma, dist of columbia, maine

Form 990, Page 6, Part VI, Line 19

The policy of the foundation is to make its governing documents, conflict of interest statements, and audited financial statements available to the public upon request and with charges permitted by law.

Filing and Contact Details

Filer

Filer Name
Arkansas Tech University Foundation
EIN
71-0561120
Phone
4799680400
Address
1509 NORTH BOULDER, RUSSELLVILLE, AR 72801

Signing Officer

Name
Jason Geiken
Title
Executive Vice Pres
Phone
4799680400
Signed
2021-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jason Geiken
Voting Board Members
23
Independent Board Members
23
Employees
0
Volunteers
33

Preparer

Firm
Shoptaw Labahn & Company Pa
Address
915 W MAIN STREET SUITE B, RUSSELLVILLE, AR 72801
Preparer
John W Shoptaw
Phone
4799673600
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The foundation provides educational support through the granting of scholarship funds to be distributed by arkansas tech university based on academic department and committee selections. The foundation also provides other institutional support to arkansas tech university for the operation of its educational programs.

Form 990, Page 1, Part I, Line 6

Board of director members and various committee members.

Form 990, Page 2, Part III, Line 4D

Provided scholarships to students of arkanas tech university and supported academic and athletic programs of the university.

Form 990, Part IX, Line 24E

Professional fees 47,186 0 0 printing 26,649 0 0 other operating supplies 25,095 0 0 dues and meetings 20,463 0 0 landscaping supplies 15,564 0 0 annuity benefits 15,555 0 0 sponsorships 15,250 0 0 educational equipment 13,791 0 0 food and entertainment 11,232 0 0 community relations 10,818 0 0 other fees and services 10,187 0 0 recognition 10,076 0 0 services 8,963 0 0 bank charges 0 8,562 0 awards 6,286 0 0 postage 5,266 0 0 departmental supplies 4,688 0 0 books and educational mat 4,012 0 0 sales and use tax 2,638 0 0 office supplies and expen 0 630 0 repairs 396 0 0 miscellaneous 267 0 0 round 0 2 0 total 254,382 9,194 0

Financial Statement Notes

Schedule D, Page 3, Part X

The foundation qualifies as an organization exempt from income taxes under section 501(c)(3) of the internal revenue code and is not subject to tax at the entity level for federal or state tax purposes. The foundation accounts for uncertain tax positions in accordance with the provisions of fasb codification topic income taxes. Fasb codification topic income taxes clarifies the accounting for uncertainty in income taxes and requires the foundation to recognize in their financial statements the impact of a tax position taken or expected to taken in a tax return, if that position is more than likely than not to be sustained under audit, based on the technical merits of the position. Management has assessed the tax positions of the foundation determined that no positions exist that require adustment of disclosure under the provisions of the fasb codification topic income taxes.

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IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR-VIC
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/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22EXECUTIVE VI
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
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IRS990/MissionDesc0THE FOUNDATION PROVIDES EDUCATIONAL SUPPORT THROUGH THE GRANTING OF SCHOLARSHIP FUNDS TO BE DISTRIBUTED BY ARKANSAS TECH UNIVERSITY BASED ON ACADEMIC DEPARTMENT AND COMMITTEE SELECTIONS. THE FOUNDATION ALSO PROVIDES OTHER INSTITUTIONAL SUPPORT TO ARKANSAS TECH UNIVERSITY FOR THE OPERATION OF ITS EDUCATIONAL PROGRAMS.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$64.6$10.4$54.2$5.64$8.39$2.75
2024Detailed filing. Detailed filing data is available for this year.$63.9$8.95$54.9$9.61$6.27$3.34
2023Detailed filing. Detailed filing data is available for this year.$57.9$8.94$49.0$1.82$3.41$1.59
2022Detailed filing. Detailed filing data is available for this year.$54.9$7.84$47.0$15.2$2.82$12.4
2021Detailed filing. Detailed filing data is available for this year.$53.3$10.3$42.9$3.73$2.22$1.51
2020Detailed filing. Detailed filing data is available for this year.$43.0$6.27$36.7$6.77$1.82$4.94
2019Detailed filing. Detailed filing data is available for this year.$38.2$5.64$32.5$8.93$1.95$6.97
2018Detailed filing. Detailed filing data is available for this year.$33.3$4.38$28.9$4.10$2.54$1.56
2017Detailed filing. Detailed filing data is available for this year.$29.5$3.87$25.7$4.24$2.38$1.86
2016Detailed filing. Detailed filing data is available for this year.$24.9$3.25$21.6$3.96$1.77$2.18
2015Detailed filing. Detailed filing data is available for this year.$24.5$3.40$21.1$4.02$1.57$2.45
2014Detailed filing. Detailed filing data is available for this year.$22.7$3.62$19.1$2.88$1.70$1.18
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.1$2.97$16.1$1.25
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.0$2.67$14.3$2.60
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.3$2.64$14.7$1.65