Civic Intelligence

Texas Tech Alumni Association

990 • Fiscal year 2016 • EIN 75-6036607

Jan 01, 2016 to Dec 31, 2016 • Filed on Aug 15, 2017

PO Box 45001Lubbock, TX 79409

(806) 742-3641

Siviq Scores

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

Liabilities / Assets

27th percentile

0.06x

Higher debt load relative to assets than 27% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

40th percentile

0.16x

Higher debt load relative to revenue than 40% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Net Margin

13th percentile

-16%

Higher net margin than 13% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Top Officer Pay

40th percentile

$148,235

Higher top officer pay than 40% of similar nonprofits.

Top officer pay equals 4.3% of source-year revenue.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Asset Growth

11th percentile

-7.9%

Faster asset growth than 11% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Revenue Growth

57th percentile

5.1%

Faster revenue growth than 57% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Assets

Down

$10,066,548

Down $865,929 (-7.9%) from 2015

Net Assets

Down

$9,503,695

Down $657,849 (-6.5%) from 2015

Liabilities

Down

$562,853

Down $208,080 (-27%) from 2015

Revenue

Up

$3,415,671

Up $164,581 (+5.1%) from 2015

Expenses

Up

$3,970,160

Up $128,352 (+3.3%) from 2015

Net Income

Up

-$554,489

Up $36,229 (+6.1%) from 2015

Historical Trend

Balance Sheet Trend

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

$20M$15M$10M$5.0M$0Assets 2010: $13,757,565Liabilities 2010: $3,021,538Net Assets 2010: $10,736,0272010Assets 2011: $11,980,095Liabilities 2011: $332,302Net Assets 2011: $11,647,7932011Assets 2012: $11,985,808Liabilities 2012: $462,884Net Assets 2012: $11,522,9242012Assets 2013: $11,778,369Liabilities 2013: $530,776Net Assets 2013: $11,247,5932013Assets 2014: $11,507,760Liabilities 2014: $733,380Net Assets 2014: $10,774,3802014Assets 2015: $10,932,477Liabilities 2015: $770,933Net Assets 2015: $10,161,5442015Assets 2016: $10,066,548Liabilities 2016: $562,853Net Assets 2016: $9,503,6952016Assets 2017: $10,485,461Liabilities 2017: $1,305,714Net Assets 2017: $9,179,7472017Assets 2018: $11,678,522Liabilities 2018: $737,456Net Assets 2018: $10,941,0662018Assets 2019: $15,345,594Liabilities 2019: $3,824,189Net Assets 2019: $11,521,4052019Assets 2020: $17,280,557Liabilities 2020: $3,927,997Net Assets 2020: $13,352,5602020Assets 2021: $17,376,523Liabilities 2021: $3,009,402Net Assets 2021: $14,367,1212021Assets 2022: $17,727,972Liabilities 2022: $2,259,139Net Assets 2022: $15,468,8332022Assets 2023: $19,447,053Liabilities 2023: $1,773,579Net Assets 2023: $17,673,4742023Assets 2024: $19,102,602Liabilities 2024: $1,130,457Net Assets 2024: $17,972,1452024

Highlighted filing

2016

Assets$10,066,548
Liabilities$562,853
Net Assets$9,503,695

Operations Trend

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $3,257,7672010Expenses 2011: $3,325,2322011Expenses 2012: $3,215,6412012Revenue 2013: $3,664,591Expenses 2013: $3,939,922Net Income 2013: -$275,3312013Revenue 2014: $3,713,059Expenses 2014: $4,186,272Net Income 2014: -$473,2132014Revenue 2015: $3,251,090Expenses 2015: $3,841,808Net Income 2015: -$590,7182015Revenue 2016: $3,415,671Expenses 2016: $3,970,160Net Income 2016: -$554,4892016Revenue 2017: $3,188,955Expenses 2017: $3,700,697Net Income 2017: -$511,7422017Revenue 2018: $5,461,302Expenses 2018: $3,886,597Net Income 2018: $1,574,7052018Revenue 2019: $3,912,290Expenses 2019: $3,585,425Net Income 2019: $326,8652019Revenue 2020: $5,530,219Expenses 2020: $3,664,428Net Income 2020: $1,865,7912020Revenue 2021: $4,664,357Expenses 2021: $3,649,796Net Income 2021: $1,014,5612021Revenue 2022: $5,145,018Expenses 2022: $3,993,414Net Income 2022: $1,151,6042022Revenue 2023: $6,427,822Expenses 2023: $4,314,801Net Income 2023: $2,113,0212023Revenue 2024: $4,543,294Expenses 2024: $4,504,272Net Income 2024: $39,0222024

Highlighted filing

2016

Revenue$3,415,671
Expenses$3,970,160
Net Income-$554,489
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Aug 15, 2017
Return Version
2016v3.0
Gross Receipts
$3,741,887
Mission and Program Overview

Mission

The organization cultivates loyalty, tradition, service, and lifelong relationships. Supporting and assisting in the development and increasing of the facilities of texas tech university through (1) encourage & establish scholarships, (2) engage in the advancement of higher education through research and other literary and scientific undertakings and broader education opportunities, (3) award alumni for outstanding work in promoting the welfare of the university, (4) engage in public relations on behalf of the university, (5) assist in keeping records and statistics on graduates and former students of the university, (6) publish an alumni magazine, (7) support local alumni groups or other related organizations or faculty, and (8) to encourage donations to the university.

The organization cultivates loyalty, tradition, service, and lifelong relationships. Supporting and assisting in the development and increasing of the facilities of texas tech university through (1) encourage & establish scholarships, (2)engage in the advancement of higher education through research and other literary and scientific undertakings and broader education opportunities, (3) award alumni for outstanding work in promoting the welfare of the university, (4) engage in public relation on behalf of the university, (5) assist in keeping records and statistics on graduates and former students of the university, (6) publish an alumni magazine, (7) support local alumni groups or other related organizations or faculty, and (8) to encourage donations to the university.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,794,007$5,598,964▼ $195,043
Savings and Temporary Cash Investments$3,580,892$3,123,624▼ $457,268
Cash and Non-Interest-Bearing Accounts$489,632$604,026▲ $114,394
Pledges and Grants Receivable$302,054$157,606▼ $144,448
Prepaid Expenses and Deferred Charges$167,784$139,930▼ $27,854
Accounts Receivable$252,621$94,110▼ $158,511
Total Assets$10,932,477$10,066,548▼ $865,929
Other Assets Total$345,487$348,288▲ $2,801
Liabilities
Accounts Payable and Accrued Expenses$519,308$323,844▼ $195,464
Deferred Revenue$151,625$164,009▲ $12,384
Grants Payable$100,000$75,000▼ $25,000
Total Liabilities$770,933$562,853▼ $208,080
Net Assets / Fund Balance
Unrestricted Net Assets$9,872,822$9,214,973▼ $657,849
Permanently Rstr Net Assets$288,722$288,722→ $0
Total Net Assets Fund Balance$10,161,544$9,503,695▼ $657,849
Total Liabilities and Net Assets / Fund Balance$10,932,477$10,066,548▼ $865,929

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$5,327,759$2,482,599$7,810,358
Other Land Buildings$246,461$977,466$1,223,927
Equipment$24,744$338,340$363,084
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Dr Bill DeanExec V. PresFT$148,235$148,235
David LowCFOFT$95,739$95,739
Revenue and Support

Revenue Composition

Contributions and Grants
$2,210,754
Program Service Revenue
$665,462
Investment Income
$129,082
Other Revenue
$410,373
All Other Contributions
$2,210,754
Change in Net Assets
$-554,489

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,415,671
Revenue Not Reported on Form 990
$218,752
Total Revenue per Audited Statements
$3,634,423
Total Revenue per Form 990
$3,415,671
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,023,181
Other Expenses$1,694,333
Total Fundraising Expense$932,589
Professional Fundraising Fees$252,646
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$952,941$58,548$257,143$1,268,632
All Other Expenses$220,962$39,294$121,594$381,850
Depreciation Depletion$176,041$158,350-$334,391
Other Employee Benefits$168,338$53,440$45,425$267,203
Fees for Services Professional Fundraising--$252,646$252,646
Office Expenses$241,279$9,145-$250,424
Current Officers, Directors, Trustees, and Key Employees-$243,974-$243,974
Payroll Taxes$88,521$28,102$23,887$140,510
Pension Plan Contributions$64,802$20,572$17,488$102,862
Occupancy$50,008$36,561-$86,569
Other Expenses$107,933-$74,967$74,967
Conferences and Meetings-$50,822-$50,822
Insurance-$42,505-$42,505
Fees for Services Other-$23,028-$23,028
Travel$1,853--$1,853
Advertising$552--$552
Total Functional Expenses$2,273,230$764,341$932,589$3,970,160

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$4,292,272
Expenses per Audited Statements$3,970,160
Total Expenses per Form 990$3,970,160
Expenses Not Reported on Form 990$322,112
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$252,646
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
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
No
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 7A

Members or other persons may elect one or more members of the governing body.

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

Form 990 is reviewed by the chief executive & administrative officer and the board president. The return is then made available to the remaining board memebers.

Form 990, Page 6, Part VI, Line 15A

The executive committee brings the motion to the board in executive session and the board approves.

Form 990, Page 6, Part VI, Line 15B

The executive committee brings the motion to the board in executive session and the board approves.

Form 990, Page 6, Part VI, Line 19

Made avaialble upon request.

Filing and Contact Details

Filer

Filer Name
Texas Tech Alumni Association
EIN
75-6036607
Phone
8067423641
Address
PO BOX 45001, LUBBOCK, TX 79409

Signing Officer

Name
David Low
Title
CFO
Phone
8067423641
Signed
2017-08-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Low
Formed
1927
Legal Domicile
TX
Voting Board Members
25
Independent Board Members
25
Employees
55
Volunteers
120

Preparer

Firm
Rpc Cpas Consultants Llp
Address
2403 82ND ST, LUBBOCK, TX 79423-2300
Preparer
Jimmy D Pendergrass
Phone
8067456789
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The organization cultivates loyalty, tradition, service, and lifelong relationships. Supporting and assisting in the development and increasing of the facilities of texas tech university through (1) encourage & establish scholarships, (2)engage in the advancement of higher education through research and other literary and scientific undertakings and broader education opportunities, (3) award alumni for outstanding work in promoting the welfare of the university, (4) engage in public relation on behalf of the university, (5) assist in keeping records and statistics on graduates and former students of the university, (6) publish an alumni magazine, (7) support local alumni groups or other related organizations or faculty, and (8) to encourage donations to the university.

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

Techsan magazine expenses - expenses associated with compiling, printing, publishing, and mailing the alumni periodical. Building fund expenses program event expenses

Form 990, Part XI, Line 9

Rental expense 322,112 rental expense -322,112

Financial Statement Notes

Schedule D, Page 3, Part X

Income taxes - the association is exempt from federal income taxes under section 501(c)(3) of the internal revenue code and, accordingly, no provision for income taxes is included in the financial statements. Tech traditions, inc. Is subject to federal income tax, state sales tax and state franchise taxes. During the year ended december 31, 2016, traditions paid 2,537 for income taxes. Traditions expects to incur a tax liability for the 2016 tax year, which is considered immaterial to the financial statements as a whole. In addition, no deferred tax asset or liability has been recorded in these financial statements. Any possible deferred tax assets or liabilities are considered to be immaterial to the financial statements. Income tax benefits are recognized for income tax positions taken, or expected to be taken, in a tax return only when it is determined that the income tax position will more likely than not be sustained upon examination by taxing authorities. The association has analyzed its tax positions taken for filings with the internal revenue service and believes that its income tax filing positions will be sustained upon examination and does not anticipate any adjustments that would result in a material adverse effect on the association's financial condition, results of operations, or cash flows. Accordingly, the association has not recorded any tax assets or liabilities, or related accruals for interest and penalties for uncertain income tax positions, at december 31, 2016 or 2015. It is the association's policy to recognize interest and/or penalties related to income tax matters in income tax expense. The association is not under examination for any open tax years. With few exceptions, the association is no longer subject to u.s. Federal income tax examinations for years before 2013.

Schedule D, Page 4, Part XI, Line 2D

RENTAL EXPENSE 322,112

Schedule D, Page 4, Part XII, Line 2D

RENTAL EXPENSE 322,112

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IRS990/MissionDesc0THE ORGANIZATION CULTIVATES LOYALTY, TRADITION, SERVICE, AND LIFELONG RELATIONSHIPS. SUPPORTING AND ASSISTING IN THE DEVELOPMENT AND INCREASING OF THE FACILITIES OF TEXAS TECH UNIVERSITY THROUGH (1) ENCOURAGE & ESTABLISH SCHOLARSHIPS, (2)ENGAGE IN THE ADVANCEMENT OF HIGHER EDUCATION THROUGH RESEARCH AND OTHER LITERARY AND SCIENTIFIC UNDERTAKINGS AND BROADER EDUCATION OPPORTUNITIES, (3) AWARD ALUMNI FOR OUTSTANDING WORK IN PROMOTING THE WELFARE OF THE UNIVERSITY, (4) ENGAGE IN PUBLIC RELATION ON BEHALF OF THE UNIVERSITY, (5) ASSIST IN KEEPING RECORDS AND STATISTICS ON GRADUATES AND FORMER STUDENTS OF THE UNIVERSITY, (6) PUBLISH AN ALUMNI MAGAZINE, (7) SUPPORT LOCAL ALUMNI GROUPS OR OTHER RELATED ORGANIZATIONS OR FACULTY, AND (8) TO ENCOURAGE DONATIONS TO THE UNIVERSITY.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.1$1.13$18.0$4.54$4.50$0.04
2023Detailed filing. Detailed filing data is available for this year.$19.4$1.77$17.7$6.43$4.31$2.11
2022Detailed filing. Detailed filing data is available for this year.$17.7$2.26$15.5$5.15$3.99$1.15
2021Detailed filing. Detailed filing data is available for this year.$17.4$3.01$14.4$4.66$3.65$1.01
2020Detailed filing. Detailed filing data is available for this year.$17.3$3.93$13.4$5.53$3.66$1.87
2019Detailed filing. Detailed filing data is available for this year.$15.3$3.82$11.5$3.91$3.59$0.33
2018Detailed filing. Detailed filing data is available for this year.$11.7$0.74$10.9$5.46$3.89$1.57
2017Detailed filing. Detailed filing data is available for this year.$10.5$1.31$9.18$3.19$3.70$0.51
2016Detailed filing. Detailed filing data is available for this year.$10.1$0.56$9.50$3.42$3.97$0.55
2015Detailed filing. Detailed filing data is available for this year.$10.9$0.77$10.2$3.25$3.84$0.59
2014Detailed filing. Detailed filing data is available for this year.$11.5$0.73$10.8$3.71$4.19$0.47
2013Detailed filing. Detailed filing data is available for this year.$11.8$0.53$11.2$3.66$3.94$0.28
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.0$0.46$11.5$3.22
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.0$0.33$11.6$3.33
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.8$3.02$10.7$3.26