Civic Intelligence

Arkansas Tech University Foundation

990 • Fiscal year 2023 • EIN 71-0561120

Jul 01, 2022 to Jun 30, 2023 • Filed on May 07, 2024

PO Box 1105Russellville, AR 72811

(479) 968-0400

Siviq Scores

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

Liabilities / Assets

38th percentile

0.15x

Higher debt load relative to assets than 38% of similar nonprofits.

2023 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2023

Liabilities / Revenue

93rd percentile

4.92x

Higher debt load relative to revenue than 93% of similar nonprofits.

2023 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2023

Net Margin

4th percentile

-88%

Higher net margin than 4% of similar nonprofits.

2023 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2023

Top Officer Pay

65th percentile

$455,957

Higher top officer pay than 65% of similar nonprofits.

Top officer pay equals 25.1% of source-year revenue.

2023 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2023

Asset Growth

47th percentile

5.5%

Faster asset growth than 47% of similar nonprofits.

2023 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2022 to 2023

Revenue Growth

1st percentile

-88%

Faster revenue growth than 1% of similar nonprofits.

2023 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2022 to 2023

Assets

Up

$57,906,367

Up $3,035,151 (+5.5%) from 2022

Net Assets

Up

$48,965,844

Up $1,935,507 (+4.1%) from 2022

Liabilities

Up

$8,940,523

Up $1,099,644 (+14%) from 2022

Revenue

Down

$1,816,524

Down $13,416,839 (-88%) from 2022

Expenses

Up

$3,409,017

Up $585,937 (+21%) from 2022

Net Income

Down

-$1,592,493

Down $14,002,776 (-113%) from 2022

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

2023

Assets$57,906,367
Liabilities$8,940,523
Net Assets$48,965,844

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

2023

Revenue$1,816,524
Expenses$3,409,017
Net Income-$1,592,493
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 7, 2024
Return Version
2022v5.0
Gross Receipts
$4,696,021
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$48,034,422$45,935,641▼ $2,098,781
Investments Other Securities$4,993,364$5,562,605▲ $569,241
Other Notes and Loans Receivable, Net-$2,551,263-
Pledges and Grants Receivable$978,982$1,886,377▲ $907,395
Savings and Temporary Cash Investments$703,988$1,853,176▲ $1,149,188
Cash and Non-Interest-Bearing Accounts$160,460$117,305▼ $43,155
Total Assets$54,871,216$57,906,367▲ $3,035,151
Liabilities
Other Liabilities$7,840,620$8,833,748▲ $993,128
Accounts Payable and Accrued Expenses$259$106,775▲ $106,516
Total Liabilities$7,840,879$8,940,523▲ $1,099,644
Net Assets / Fund Balance
Net Assets With Donor Restrictions$42,272,983$44,213,875▲ $1,940,892
Net Assets Without Donor Restrictions$4,757,354$4,751,969▼ $5,385
Total Net Assets Fund Balance$47,030,337$48,965,844▲ $1,935,507
Total Liabilities and Net Assets / Fund Balance$54,871,216$57,906,367▲ $3,035,151

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$409,653--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$27,932,161$640,411▼ $206,862-$28,365,710
2021$24,691,164$5,246,216▼ $2,005,219-$27,932,161
2020$23,295,629$1,135,801▲ $259,734-$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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Robin BowenDirector Ex-$9,000$446,957$455,957
Jason GeikenExecutive ViFT-$211,632$211,632
Jason GeikenExecutive Vice Pres--$9,000$9,000

Board Members and Trustees

NameTitle
Barton AllenPast Chair
Brad ThresherDirector
Brent GarrettDirector
Bryce MobleyDirector
Chaun HarperDirector
Cheryl DentonDirector
Dave PinsonDirector
Deana InfieldDirector
George WarmanDirector
Ian BryanDirector
J W StrattonDirector
Jeff WardDirector
Josh MastersDirector
Leigh WhitesideDirector
Luke BradshawDirector
Mary Anne SalmonDirector
Patricia WattamDirector
Phillip GrayDirector
Portia ShortDirector
Serena JefferyDirector
Todd MeimerstorfDirector
Tom MccormickDirector
Robin BowenDirector Ex Officio
Wayne YoungDirector-CHA
Revenue and Support

Revenue Composition

Contributions and Grants
$3,597,117
Program Service Revenue
$0
Investment Income
$-1,780,593
Other Revenue
$0
All Other Contributions
$3,597,117
Change in Net Assets
$-1,592,493

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Works of Art5$173,951Appraisal
Total Noncash Contributions5$173,951-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,816,524
Revenue Not Reported on Form 990
$3,701,823
Total Revenue per Audited Statements
$5,518,347
Total Revenue per Form 990
$1,816,524
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,792,782
Grants and Similar Amounts Paid$997,139
Salaries, Compensation, and Employee Benefits$583,096
Total Fundraising Expense$273,932
Professional Fundraising Fees$36,000

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$997,139--$997,139
All Other Expenses$624,678$12,691-$637,369
Other Salaries and Wages$207,048$138,116$237,932$583,096
Other Expenses$168,500--$168,500
Travel$60,278--$60,278
Fees for Services Lobbying-$60,000-$60,000
Fees for Services Professional Fundraising--$36,000$36,000
Fees for Services Accounting-$12,875-$12,875
Insurance$1,770--$1,770
Occupancy$544$1,200-$1,744
Total Functional Expenses$2,910,203$224,882$273,932$3,409,017

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$3,582,838
Expenses per Audited Statements$3,409,017
Total Expenses per Form 990$3,409,017
Expenses Not Reported on Form 990$173,821
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$36,000
Political and Lobbying Activity
Political campaign activity
Yes
Lobbying activity
Yes
Subject to proxy tax
No

Reported Spending and Taxes

Line ItemAmount
Political Expenditures$60,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
University Funds Under Management$8,515,998
Deferred Compensation Payable$272,463
Liability for Annuities$45,287
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
PO BOX 1105, RUSSELLVILLE, AR 72811

Signing Officer

Name
Jason Geiken
Title
Executive Vice Pres
Phone
4799680400
Signed
2024-05-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jason Geiken
Voting Board Members
23
Independent Board Members
23
Employees
0
Volunteers
30

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

Food and entertainment 74,879 0 0 printing 71,833 0 0 furnishings provided atu 54,126 0 0 deferred compensation pro 50,000 0 0 dues and meetings 48,624 0 0 computer software license 36,434 0 0 community relations 32,757 0 0 landscaping supplies 32,725 0 0 departmental supplies 32,194 0 0 other fees and services 31,559 0 0 computers and computer eq 29,707 0 0 postage 22,156 0 0 sponsorships 20,250 0 0 annuity benefits 16,581 0 0 awards 15,925 0 0 tuition and fees 14,568 0 0 recognition 11,709 0 0 bank charges 0 9,059 0 noncash expend - supplies 5,321 0 0 other operating supplies 4,892 0 0 sales and use tax 4,421 0 0 books and educational mat 4,227 0 0 game equipment 3,794 0 0 office supplies and expen 0 3,632 0 cellular usage 3,600 0 0 miscellaneous 1,125 0 0 medical expense 850 0 0 repairs 421 0 0 total 624,678 12,691 0

Form 990, Part XI, Line 9

ROUND -2

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IRS990/Form990PartVIISectionAGrp/PersonNm22DAVE PINSON
IRS990/Form990PartVIISectionAGrp/PersonNm23MARY ANNE SALMON
IRS990/Form990PartVIISectionAGrp/PersonNm24TOM MCCORMICK
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PAST CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR-CHA
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/TitleTxt14EXECUTIVE VI
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR EX
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24DIRECTOR
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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