Civic Intelligence

Ullico Foundation

990 • Fiscal year 2023 • EIN 86-1417548

Jan 01, 2023 to Dec 31, 2023 • Filed on Jul 08, 2025

Organization Profilewww.ullico.com/about-ullico/ullico-foundation-scholarship-program
8403 Colesville Rd Ste 14th FloorSilver Spring, MD 20910

(202) 354-8062

Siviq Scores

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

Liabilities / Assets

32nd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

32nd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

91st percentile

53%

Higher net margin than 91% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

54th percentile

$0

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

85th percentile

38%

Faster asset growth than 85% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

99th percentile

774%

Faster revenue growth than 99% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets32nd percentile

Assets

Up

$626,755

Up $174,152 (+38%) from 2022

Net Assets

Up

$626,755

Up $174,152 (+38%) from 2022

Liabilities

Flat

$0

Flat from 2022

Revenue And Expenses
Liabilities / Revenue32nd percentileNet Margin91st percentile

Revenue

Up

$330,437

Up $292,637 (+774%) from 2022

Expenses

Up

$156,285

Up $120,088 (+332%) from 2022

Net Income

Up

$174,152

Up $172,549 (+10764%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth85th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2021: $451,000Liabilities 2021: $0Net Assets 2021: $451,0002021Assets 2022: $452,603Liabilities 2022: $0Net Assets 2022: $452,6032022Assets 2023: $626,755Liabilities 2023: $0Net Assets 2023: $626,7552023Assets 2024: $1,672,841Liabilities 2024: $0Net Assets 2024: $1,672,8412024

Highlighted filing

2023

Assets$626,755
Liabilities$0
Net Assets$626,755
Open 2023 Filing

Operations Trend

Revenue Growth99th percentile

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

$1.5M$1.0M$500K$0Revenue 2021: $451,000Expenses 2021: $0Net Income 2021: $451,0002021Revenue 2022: $37,800Expenses 2022: $36,197Net Income 2022: $1,6032022Revenue 2023: $330,437Expenses 2023: $156,285Net Income 2023: $174,1522023Revenue 2024: $1,214,849Expenses 2024: $168,763Net Income 2024: $1,046,0862024

Highlighted filing

2023

Revenue$330,437
Expenses$156,285
Net Income$174,152
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jul 8, 2025
Return Version
2023v6.0
Gross Receipts
$330,437
Mission and Program Overview

Mission

100 of the Foundations total time, will be to provide undergraduate and graduate scholarships to students from underrepresented, economically disadvantaged or disadvantaged minority communities with a preference for students pursuing studies in insurance, actuarial/mathematical, business and finance and labor relations or labor history programs.

100 of the Foundations total time will be to provide undergraduate and graduate scholarships to students from underrepresented, economically disadvantaged or minority communities

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$452,603$626,755▲ $174,152
Cash and Non-Interest-Bearing Accounts$437,603$614,427▲ $176,824
Accounts Receivable-$5,000-
Prepaid Expenses and Deferred Charges-$5,000-
Total Assets$452,603$626,755▲ $174,152
Other Assets Total$15,000$2,328▼ $12,672
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$452,603$626,755▲ $174,152
Total Liabilities and Net Assets / Fund Balance$452,603$626,755▲ $174,152
Compensation and Service Providers
Top Officer Pay54th percentile

Board Members and Trustees

NameTitle
Patrick McGlonePresident
Brian HaleVice President
Christine FletcherDirector
Damon GasqueDirector
Edward SmithDirector
Joseph LinehanDirector
Nora E GarroteDirector
Patrice ArringtonDirector
Stephanie WhalenDirector
Marie-Marcelle TagliaferriSecretary
Darin HardyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$317,464
Program Service Revenue
$0
Investment Income
$12,973
Other Revenue
$0
All Other Contributions
$317,464
Change in Net Assets
$174,152
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$116,285
Grants and Similar Amounts Paid$40,000
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Legal-$63,193-$63,193
Grants to Domestic Orgs$40,000--$40,000
Fees for Services Accounting-$24,050-$24,050
Other Expenses-$14,235-$14,235
Advertising-$7,500-$7,500
Fees for Services Management$5,000$1,055-$6,055
Total Functional Expenses$45,000$111,285$0$156,285
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
International Scholarship and Tuition Services IncNashville, TN-Scholarship Review Processing$40,000
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
Yes
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
Filing and Contact Details

Filer

Filer Name
Ullico Foundation
EIN
86-1417548
In Care Of
% Adam M Fried
Phone
2023548062
Address
8403 COLESVILLE RD STE 14TH FLOOR, Silver Spring, MD 20910

Signing Officer

Name
PATRICK McGLONE
Title
President
Phone
2023548062
Signed
2025-07-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
PATRICK McGLONE
Formed
2020
Legal Domicile
De
Voting Board Members
6
Independent Board Members
3
Employees
0

Preparer

Firm
Ullico
Address
8403 COLESVILLE RD 14TH FLOOR, SILVER SPRING, MD 20910
Preparer
Adam M Fried
Phone
4108021517
Supplemental Narrative

Additional Explanations

Form 990, Part I, Section B, Line 11A

“We send a copy of the form 990 to all members of the board of dirctors before we file the form for them to review”

Raw XML AppendixShowing 400 of 407 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.

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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$626,755
Liabilities
$0
Net assets
$626,755
Revenue
$330,437
Expenses
$156,285
Net income
$174,152
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.67$0.00$1.67$1.21$0.17$1.05
2023Detailed filing. Detailed filing data is available for this year.$0.63$0.00$0.63$0.33$0.16$0.17
2022Detailed filing. Detailed filing data is available for this year.$0.45$0.00$0.45$0.04$0.04$0.00
2021Detailed filing. Detailed filing data is available for this year.$0.45$0.00$0.45$0.45$0.00$0.45