Civic Intelligence

Icut Foundation

990 • Fiscal year 2021 • EIN 75-1540769

Oct 01, 2020 to Sep 30, 2021 • Filed on Apr 21, 2022

1303 San Antonio St No 820Austin, TX 78701

(512) 472-9522

Siviq Scores

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

Liabilities / Assets

91st percentile

0.68x

Higher debt load relative to assets than 91% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

92nd percentile

0.64x

Higher debt load relative to revenue than 92% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

44th percentile

4.6%

Higher net margin than 44% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Top Officer Pay

99th percentile

$161,911

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 69.0% of source-year revenue.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

54th percentile

8.2%

Faster asset growth than 54% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

50th percentile

3.6%

Faster revenue growth than 50% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Assets

Up

$222,305

Up $16,899 (+8.2%) from 2020

Net Assets

Up

$71,408

Up $10,799 (+18%) from 2020

Liabilities

Up

$150,897

Up $6,100 (+4.2%) from 2020

Revenue

Up

$234,612

Up $8,076 (+3.6%) from 2020

Expenses

Up

$223,813

Up $4,755 (+2.2%) from 2020

Net Income

Up

$10,799

Up $3,321 (+44%) from 2020

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2011: $75,239Liabilities 2011: $02011Assets 2012: $114,446Liabilities 2012: $1,8422012Assets 2013: $105,184Liabilities 2013: $02013Assets 2014: $115,181Liabilities 2014: $02014Assets 2015: $132,785Liabilities 2015: $30,5002015Assets 2016: $142,795Liabilities 2016: $51,720Net Assets 2016: $91,0752016Assets 2017: $92,958Liabilities 2017: $47,080Net Assets 2017: $45,8782017Assets 2018: $238,716Liabilities 2018: $182,935Net Assets 2018: $55,7812018Assets 2019: $167,813Liabilities 2019: $112,852Net Assets 2019: $54,9612019Assets 2020: $205,406Liabilities 2020: $144,797Net Assets 2020: $60,6092020Assets 2021: $222,305Liabilities 2021: $150,897Net Assets 2021: $71,4082021Assets 2022: $1,110,544Liabilities 2022: $175,602Net Assets 2022: $934,9422022Assets 2023: $1,438,280Liabilities 2023: $470,187Net Assets 2023: $968,0932023Assets 2024: $1,711,790Liabilities 2024: $420,844Net Assets 2024: $1,290,9462024

Highlighted filing

2021

Assets$222,305
Liabilities$150,897
Net Assets$71,408

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2011: $110,847Expenses 2011: $106,802Net Income 2011: $4,0452011Revenue 2012: $130,794Expenses 2012: $93,429Net Income 2012: $37,3652012Revenue 2013: $124,660Expenses 2013: $132,080Net Income 2013: -$7,4202013Revenue 2014: $147,186Expenses 2014: $137,189Net Income 2014: $9,9972014Revenue 2015: $77,919Expenses 2015: $90,815Net Income 2015: -$12,8962015Revenue 2016: $236,187Expenses 2016: $237,397Net Income 2016: -$1,2102016Revenue 2017: $186,277Expenses 2017: $231,474Net Income 2017: -$45,1972017Revenue 2018: $254,347Expenses 2018: $244,345Net Income 2018: $10,0022018Revenue 2019: $247,014Expenses 2019: $248,392Net Income 2019: -$1,3782019Revenue 2020: $226,536Expenses 2020: $219,058Net Income 2020: $7,4782020Revenue 2021: $234,612Expenses 2021: $223,813Net Income 2021: $10,7992021Revenue 2022: $1,088,634Expenses 2022: $225,100Net Income 2022: $863,5342022Revenue 2023: $1,809,224Expenses 2023: $1,788,198Net Income 2023: $21,0262023Revenue 2024: $1,895,848Expenses 2024: $1,627,041Net Income 2024: $268,8072024

Highlighted filing

2021

Revenue$234,612
Expenses$223,813
Net Income$10,799
Jump To
Filing Snapshot
Filing Period
Oct 1, 2020 to Sep 30, 2021
Signed
Apr 21, 2022
Return Version
2020v4.2
Gross Receipts
$234,612
Mission and Program Overview

Mission

To collaborate with institutional members, businesses, and relevant stakeholders to raise funds to develop and implement innovative programs and administer privately funded scholarship opportunities.

Collaborate with institutional members, businesses and relevant stakeholders.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$112,958$112,940▼ $18
Cash and Non-Interest-Bearing Accounts$92,448$109,365▲ $16,917
Total Assets$205,406$222,305▲ $16,899
Liabilities
Grants Payable$142,797$150,897▲ $8,100
Other Liabilities$2,000$0▼ $2,000
Total Liabilities$144,797$150,897▲ $6,100
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$60,159$71,408▲ $11,249
Net Assets With Donor Restrictions$450$0▼ $450
Total Net Assets Fund Balance$60,609$71,408▲ $10,799
Total Liabilities and Net Assets / Fund Balance$205,406$222,305▲ $16,899
Compensation and Service Providers

Board Members and Trustees

NameTitle
Frederick SlabachChair
Richard LudwickChair-elect
Sandra HarperPast Chair
Charlie MccormickDirector
David LeebronDirector
Debbie CottrellDirector
Don ChristianDirector
Linda LivingstoneDirector
STEVEN O'DAYDirector
Steven JohnsonChief Executive Officer
Blair BlackburnSecretary
Colette BurnetteTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$234,600
Program Service Revenue
$0
Investment Income
$12
Other Revenue
$0
All Other Contributions
$196,600
Change in Net Assets
$10,799
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$193,600
Other Expenses$30,213
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$193,600--$193,600
Payments to Affiliates$23,750--$23,750
Fees for Services Accounting-$6,231-$6,231
Office Expenses-$202-$202
Other Expenses-$30-$30
Total Functional Expenses$217,350$6,463$0$223,813
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
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
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

The members of the foundation are the presidents or chancellors of the 38 independent institutions of higher education in texas that are sacscoc accredited, one private medical school accredited by the liaison committee on medical education, and one affiliate member.

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

The members of the independent colleges & universities of texas, inc. (icut) are the presidents or chancellors of the 38 independent institutions of higher education in texas that are sacscoc accredited, one private medical school accredited by the liaison committee on medical education, and one affiliate member. At icut's annual meeting each year these voting members elect the new directors and officers of the board of directors, who in turn are board members of icut foundation as well.

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

Certain decisions of the board of directors must be approved by a majority vote of a quorum of the voting members.

Form 990, Part VI, Section A, Line 8B

There are no committees with authority to act on behalf of the board of directors.

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

The form 990 is reviewed by the president, chair, and chair elect with the preparing cpa. The entire board approves filing.

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

The board of directors must review and sign the conflict of interest policy each year. A list of current vendors is provided to them with the form.

Form 990, Part VI, Section C, Line 19

Governing documents and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Icut Foundation
EIN
75-1540769
Phone
5124729522
Address
1303 SAN ANTONIO ST NO 820, AUSTIN, TX 78701

Signing Officer

Name
Steven Johnson
Title
Chief Executive Officer
Phone
5124729522
Signed
2022-04-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Richard Ludwick
Formed
1976
Legal Domicile
TX
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
11

Preparer

Firm
Reynolds & Franke Pc
Address
6850 AUSTIN CENTER BLVD SUITE 100, AUSTIN, TX 78731
Preparer
Ronald H Reynolds
Phone
5122063141
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

The most significant tax position of the foundation is its assertions that it is exempt from income taxes and its determinations of whether any amounts are subject to unrelated business income tax (ubit). Management had determined that the foundation had no activity subject to ubit during the fiscal year ended september 30, 2021. All significant tax positions have been considered by management and it has determined that it is more likely than not that all tax positions would be sustained upon examination by taxing authorities.

Raw XML AppendixShowing 400 of 473 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.

Path#Value
IRS990/AccountantCompileOrReviewInd00
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0COLLABORATE WITH INSTITUTIONAL MEMBERS, BUSINESSES AND RELEVANT STAKEHOLDERS.
IRS990/AllOtherContributionsAmt0196600
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/AuditCommitteeInd01
IRS990/BackupWthldComplianceInd01
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0STEVEN JOHNSON
IRS990/BooksInCareOfDetail/PhoneNum05124729522
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt01303 SAN ANTONIO ST NO 820
IRS990/BooksInCareOfDetail/USAddress/CityNm0AUSTIN
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0TX
IRS990/BooksInCareOfDetail/USAddress/ZIPCd078701
IRS990/BusinessRlnWith35CtrlEntInd00
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/CashNonInterestBearingGrp/BOYAmt092448
IRS990/CashNonInterestBearingGrp/EOYAmt0109365
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt00
IRS990/CollectionsOfArtInd00
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd00
IRS990/CompensationProcessOtherInd00
IRS990/ConflictOfInterestPolicyInd01
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd01
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt0234600
IRS990/CYGrantsAndSimilarPaidAmt0193600
IRS990/CYInvestmentIncomeAmt012
IRS990/CYOtherExpensesAmt030213
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt00
IRS990/CYRevenuesLessExpensesAmt010799
IRS990/CYSalariesCompEmpBnftPaidAmt00
IRS990/CYTotalExpensesAmt0223813
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt0234612
IRS990/DecisionsSubjectToApprovaInd01
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DelegationOfMgmtDutiesInd00
IRS990/Desc0THE 40 INDEPENDENT COLLEGES AND UNIVERSITIES IN TEXAS, WHO ARE SERVED BY THE FOUNDATION, WERE GIVEN THE OPPORTUNITY TO PARTICIPATE IN SCHOLARSHIP PROGRAMS. IN FISCAL YEAR 2021, THE ICUT FOUNDATION AWARDED 74 SCHOLARSHIPS TOTALING $182,300.
IRS990/DescribedInSection501c3Ind01
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd01
IRS990/DonorAdvisedFundInd00
IRS990/DonorRestrictionNetAssetsGrp/BOYAmt0450
IRS990/DonorRestrictionNetAssetsGrp/EOYAmt00
IRS990/DonorRstrOrQuasiEndowmentsInd00
IRS990/ElectionOfBoardMembersInd01
IRS990/EmployeeCnt00
IRS990/EngagedInExcessBenefitTransInd00
IRS990/ExpenseAmt0217350
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditRequiredInd00
IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt06231
IRS990/FeesForServicesAccountingGrp/TotalAmt06231
IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
IRS990/Form8282PropertyDisposedOfInd00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt04.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt14.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt24.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt34.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt44.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt54.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt64.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt74.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt84.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt94.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt104.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt1136.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt00.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt10.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt20.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt30.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt40.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt50.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt60.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt70.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt80.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt90.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt100.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt111.50
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd7X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd8X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd9X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd10X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd3X
IRS990/Form990PartVIISectionAGrp/OfficerInd4X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt80
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt90
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt100
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1138154
IRS990/Form990PartVIISectionAGrp/PersonNm0FREDERICK SLABACH
IRS990/Form990PartVIISectionAGrp/PersonNm1RICHARD LUDWICK
IRS990/Form990PartVIISectionAGrp/PersonNm2SANDRA HARPER
IRS990/Form990PartVIISectionAGrp/PersonNm3BLAIR BLACKBURN
IRS990/Form990PartVIISectionAGrp/PersonNm4COLETTE BURNETTE
IRS990/Form990PartVIISectionAGrp/PersonNm5DEBBIE COTTRELL
IRS990/Form990PartVIISectionAGrp/PersonNm6DON CHRISTIAN
IRS990/Form990PartVIISectionAGrp/PersonNm7STEVEN O'DAY
IRS990/Form990PartVIISectionAGrp/PersonNm8DAVID LEEBRON
IRS990/Form990PartVIISectionAGrp/PersonNm9CHARLIE MCCORMICK
IRS990/Form990PartVIISectionAGrp/PersonNm10LINDA LIVINGSTONE
IRS990/Form990PartVIISectionAGrp/PersonNm11STEVEN JOHNSON
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt11123757
IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1CHAIR-ELECT
IRS990/Form990PartVIISectionAGrp/TitleTxt2PAST CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11CHIEF EXECUTIVE OFFICER
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01976
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt011
IRS990/GrantAmt0193600
IRS990/GrantsPayableGrp/BOYAmt0142797
IRS990/GrantsPayableGrp/EOYAmt0150897
IRS990/GrantsToDomesticIndividualsGrp/ProgramServicesAmt0193600
IRS990/GrantsToDomesticIndividualsGrp/TotalAmt0193600
IRS990/GrantsToIndividualsInd01
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt0234612
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt011
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InvestmentIncomeGrp/ExclusionAmt012
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt012
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt01
IRS990/IRPDocumentW2GCnt00
IRS990/LegalDomicileStateCd0TX
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembershipDuesAmt038000
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd00
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO COLLABORATE WITH INSTITUTIONAL MEMBERS, BUSINESSES, AND RELEVANT STAKEHOLDERS TO RAISE FUNDS TO DEVELOP AND IMPLEMENT INNOVATIVE PROGRAMS AND ADMINISTER PRIVATELY FUNDED SCHOLARSHIP OPPORTUNITIES.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt060609
IRS990/NetAssetsOrFundBalancesEOYAmt071408
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt060159
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt071408
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0202
IRS990/OfficeExpensesGrp/TotalAmt0202
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0MISCELLANEOUS
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt030
IRS990/OtherExpensesGrp/TotalAmt030
IRS990/OtherLiabilitiesGrp/BOYAmt02000
IRS990/OtherLiabilitiesGrp/EOYAmt00
IRS990/PartialLiquidationInd00
IRS990/PaymentsToAffiliatesGrp/ProgramServicesAmt023750
IRS990/PaymentsToAffiliatesGrp/TotalAmt023750
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0RICHARD LUDWICK
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0226000
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0189000
IRS990/PYInvestmentIncomeAmt0536
IRS990/PYOtherExpensesAmt030058
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt07478
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0219058
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0226536
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt010799
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0112958
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0112940
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0234600
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0226000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0244450
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0253151
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0186250
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01144451
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt012
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0536
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt02564
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt01196
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt027
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt04335
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.75510
IRS990ScheduleA/PublicSupportPY170Pct00.73370
IRS990ScheduleA/PublicSupportTotal170Amt0867427
IRS990ScheduleA/SubstantialContributorsTotAmt0277024
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0234600
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0226000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0244450
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0253151
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0186250
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01144451
IRS990ScheduleA/TotalSupportAmt01148786
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE MOST SIGNIFICANT TAX POSITION OF THE FOUNDATION IS ITS ASSERTIONS THAT IT IS EXEMPT FROM INCOME TAXES AND ITS DETERMINATIONS OF WHETHER ANY AMOUNTS ARE SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT). MANAGEMENT HAD DETERMINED THAT THE FOUNDATION HAD NO ACTIVITY SUBJECT TO UBIT DURING THE FISCAL YEAR ENDED SEPTEMBER 30, 2021. ALL SIGNIFICANT TAX POSITIONS HAVE BEEN CONSIDERED BY MANAGEMENT AND IT HAS DETERMINED THAT IT IS MORE LIKELY THAN NOT THAT ALL TAX POSITIONS WOULD BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt075000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt1118600
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0PACCAR SCHOLARSHIP
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1UPS SCHOLARSHIP
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt040
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt138
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0REQUIRE EACH UNIVERSITY TO SUBMIT AN APPLICATION ON BEHALF OF THE SCHOLARSHIP RECIPIENT. THE VETTING REGARDING THE NEED OF THE STUDENT IS DONE BY THE UNIVERSITY.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0123757
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt031767
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt06387
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0STEVEN JOHNSON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CHIEF EXECUTIVE OFFICER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0161911
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0THE PRESIDENT/CEO'S TIME IS DONATED TO THE FOUNDATION FROM ICUT. ICUT ESTABLISHES COMPENSATION FOR THE PRESIDENT/CEO BY USING A COMPENSATION COMMITTEE AND STUDY, WRITTEN CONTRACT AND BY APPROVAL OF THE BOARD.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I LINE 3:
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE MEMBERS OF THE FOUNDATION ARE THE PRESIDENTS OR CHANCELLORS OF THE 38 INDEPENDENT INSTITUTIONS OF HIGHER EDUCATION IN TEXAS THAT ARE SACSCOC ACCREDITED, ONE PRIVATE MEDICAL SCHOOL ACCREDITED BY THE LIAISON COMMITTEE ON MEDICAL EDUCATION, AND ONE AFFILIATE MEMBER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE MEMBERS OF THE INDEPENDENT COLLEGES & UNIVERSITIES OF TEXAS, INC. (ICUT) ARE THE PRESIDENTS OR CHANCELLORS OF THE 38 INDEPENDENT INSTITUTIONS OF HIGHER EDUCATION IN TEXAS THAT ARE SACSCOC ACCREDITED, ONE PRIVATE MEDICAL SCHOOL ACCREDITED BY THE LIAISON COMMITTEE ON MEDICAL EDUCATION, AND ONE AFFILIATE MEMBER. AT ICUT'S ANNUAL MEETING EACH YEAR THESE VOTING MEMBERS ELECT THE NEW DIRECTORS AND OFFICERS OF THE BOARD OF DIRECTORS, WHO IN TURN ARE BOARD MEMBERS OF ICUT FOUNDATION AS WELL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CERTAIN DECISIONS OF THE BOARD OF DIRECTORS MUST BE APPROVED BY A MAJORITY VOTE OF A QUORUM OF THE VOTING MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE FORM 990 IS REVIEWED BY THE PRESIDENT, CHAIR, AND CHAIR ELECT WITH THE PREPARING CPA. THE ENTIRE BOARD APPROVES FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE BOARD OF DIRECTORS MUST REVIEW AND SIGN THE CONFLICT OF INTEREST POLICY EACH YEAR. A LIST OF CURRENT VENDORS IS PROVIDED TO THEM WITH THE FORM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0INDEPENDENT COLLEGES & UNIVERSITIES OF TEXAS INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0751285930
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(6)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0TX
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0ADVOCATE FOR MEMBER COLLEGES
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt01303 SAN ANTONIO ST 820
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0AUSTIN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0TX
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd078701
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt02970
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt121380
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt236000
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0ALLOCATION OF COST
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1ALLOCATION OF COST
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt2ACTUAL CASH
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0INDEPENDENT COLLEGES & UNIVERSITIES OF TEXAS INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1INDEPENDENT COLLEGES & UNIVERSITIES OF TEXAS INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt2INDEPENDENT COLLEGES & UNIVERSITIES OF TEXAS INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0N
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1O
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt2S
IRS990ScheduleR/TransferFromOtherOrgInd01
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0205406

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.71$0.42$1.29$1.90$1.63$0.27
2023Detailed filing. Detailed filing data is available for this year.$1.44$0.47$0.97$1.81$1.79$0.02
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.11$0.18$0.93$1.09$0.23$0.86
2021Detailed filing. Detailed filing data is available for this year.$0.22$0.15$0.07$0.23$0.22$0.01
2020Detailed filing. Detailed filing data is available for this year.$0.21$0.14$0.06$0.23$0.22$0.01
2019Summary only. Only limited summary data is available for this year.$0.17$0.11$0.05$0.25$0.25$0.00
2018Summary only. Only limited summary data is available for this year.$0.24$0.18$0.06$0.25$0.24$0.01
2017Summary only. Only limited summary data is available for this year.$0.09$0.05$0.05$0.19$0.23$0.05
2016Summary only. Only limited summary data is available for this year.$0.14$0.05$0.09$0.24$0.24$0.00
2015Summary only. Only limited summary data is available for this year.$0.13$0.03$0.08$0.09$0.01
2014Summary only. Only limited summary data is available for this year.$0.12$0.00$0.15$0.14$0.01
2013Summary only. Only limited summary data is available for this year.$0.11$0.00$0.12$0.13$0.01
2012Summary only. Only limited summary data is available for this year.$0.11$0.00$0.13$0.09$0.04
2011Summary only. Only limited summary data is available for this year.$0.08$0.00$0.11$0.11$0.00