2024-08-13T15:33:53-04:00 2023-09-30 742516372 REYNOLDS & FRANKE PC 6850 AUSTIN CENTER BLVD STE 100 AUSTIN TX 787313184 990 2022-10-01 751540769 ICUT FOUNDATION ICUT 5124729522 1303 SAN ANTONIO ST STE 820 AUSTIN TX 78701 ELIZABETH PUTHOFF PRESIDENT 5124729522 2024-08-13 true true RONALD H REYNOLDS CPA P00964479 5122063141 2024-08-13 2022 2024-08-08 14:25:15Z EXTENDED TO AUGUST 15 2024 CHARLIE MCCORMICK 1303 SAN ANTONIO ST STE 820 AUSTIN TX 78701 1922173 false X ICUT.ORG/PAGE/FOUNDATIONOVERVIEW X 1976 TX THE FOUNDATION SUPPORTS TEXAS' INDEPENDENT NONPROFIT COLLEGES AND UNIVERSITIES BY STRENGTHENING MEMBER INSTITUTIONS THRU EDUCATION. 11 11 0 11 0 1087953 213980 1474408 681 65940 54896 1088634 1809224 196600 206600 0 916095 0 16738 28500 665503 225100 1788198 863534 21026 1110544 1438280 175602 470187 934942 968093 X THE FOUNDATION SUPPORTS TEXAS' INDEPENDENT NONPROFIT COLLEGES AND UNIVERSITIES BY STRENGTHENING MEMBER INSTITUTIONS BY EDUCATING UNIVERSITY STAFF THROUGH SEMINARS AND TRAINING OPPORTUNITIES, EDUCATING STAKEHOLDERS ABOUT STRATEGIC ISSUES IMPORTANT TO PRIVATE HIGHER EDUCATION IN TEXAS, CONDUCTING RESEARCH AND PRODUCING COLLATERAL RELEVANT TO THE MISSION OF ITS MEMBERS, SEEKING AND DISTRIBUTING SCHOLARSHIPS FOR STUDENTS AT ITS MEMBERS, AND PROVIDING SIGNIFICANT COST SAVINGS THROUGH COLLABORATIVE PURCHASING AGREEMENTS true false 639954 1474408 EDUCATION OF MEMBERS - THE ICUT FOUNDATION MEMBERSHIP CONSISTS OF 40 ACCREDITED INDEPENDENT INSTITUTIONS OF HIGHER EDUCATION IN TEXAS. ICUT FOUNDATION SERVES THESE MEMBERS BY EDUCATING THEM ON ISSUES AFFECTING THEIR INSTITUTIONS OR THEIR STUDENTS. THIS INCLUDES INNOVATIVE EDUCATIONAL TOOLS, NEW LAWS, RULES, REGULATIONS AND OTHER TOPICS OF INTEREST. WE COMMUNICATE THIS INFORMATION VIA WEBINARS, IN-PERSON TRAININGS AND MEETINGS, NEWSLETTERS AND EMAILS. IN ADDITION, WE COLLECT AND ANALYZE DATA FROM VARIOUS SOURCES TO PROVIDE RELEVANT INFORMATION TO OUR MEMBERS. 311240 MEMBER SERVICES - THE MEMBERS OF ICUT FOUNDATION HAVE ACCESS TO DOZENS OF GROUP PURCHASING AGREEMENTS OFFERING THEM SIGNIFICANT SAVINGS ON PRODUCTS AND SERVICES RELATED TO THEIR EDUCATIONAL PURPOSE. WE HOLD MEETINGS FOR VARIOUS GROUPS ON CAMPUS THAT PROVIDE A FORUM TO SHARE IDEAS AND LEARN ABOUT NEW INITIATIVES IN THEIR RESPECTIVE FIELDS. IN ADDITION, MEMBERS ARE ELIGIBLE TO PARTICIPATE IN AN ICUT FOUNDATION SELF-FUNDED HEALTH PLAN. 206600 206600 THE 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 2023, THE ICUT FOUNDATION AWARDED 78 SCHOLARSHIPS TOTALING 206,600. 143704 LEGISLATIVE - THE MEMBERS OF ICUT FOUNDATION ARE REPRESENTED BY BOTH THE ICUT FOUNDATION PRESIDENT AND A CONTRACT LOBBYIST WHO MEET WITH STAKEHOLDERS TO EDUCATE THEM ON THE VALUE OF PRIVATE NON-PROFIT HIGHER EDUCATION IN TEXAS. 143704 1301498 true true false true false false false false false false true false false true true true true false false false false false false false false false false false true true false false false false false false false false false false false false false false false false false true X 2 0 0 false false false false false false false false false false false false X 11 11 false false false false true true true true false false false true true true true true true true false false X ELIZABETH PUTHOFF 5124729522 1303 SAN ANTONIO ST STE 820 AUSTIN TX 78701 STEVEN JOHNSON CEO (10-12/2 40.00 0.00 X 250360 0 41642 ELIZABETH PUTHOFF PRESIDENT 40.00 X 177511 0 31159 LOIS HOLLIS SENIOR DIREC 40.00 X 108505 0 26613 RICHARD LUDWICK CHAIR 4.00 0.00 X X 0 0 0 CHARLIE MCCORMICK CHAIR-ELECT 4.00 0.00 X X 0 0 0 PHIL SCHUBERT PAST CHAIR 4.00 X X 0 0 0 BLAIR BLACKBURN SECRETARY 4.00 X X 0 0 0 DEBBIE COTTRELL TREASURER 4.00 X X 0 0 0 GERALD TURNER DIRECTOR 4.00 X 0 0 0 HERMAN FELTON DIRECTOR 4.00 X 0 0 0 STEVEN O'DAY DIRECTOR 4.00 X 0 0 0 THOMAS EVANS DIRECTOR 4.00 X 0 0 0 BOBBY HALL DIRECTOR 4.00 X 0 0 0 LINDA LIVINGSTONE DIRECTOR 4.00 X 0 0 0 536376 99414 3 false true false 213980 213980 MEMBERSHIP DUES 900099 1387913 1387913 MEETING FEES 900099 54870 54870 PROGRAM SPONSORSHIP 900099 31625 31625 1474408 68867 68867 49937 49937 88173 88173 21849 24776 -2927 -2927 -2927 REFUNDS 900099 3333 3333 REIMBURSEMENTS 900099 1626 1626 4959 1809224 1479367 115877 206600 206600 592012 412340 174176 5496 231056 158960 69977 2119 32771 24578 7865 328 12710 9533 3050 127 47546 35660 11411 475 10633 10633 25385 25385 22400 22400 81443 24500 56424 519 108382 81354 25947 1081 17919 13439 4301 179 112300 62191 48105 2004 36130 36130 125546 99568 21717 4261 1263 947 316 4636 3477 1159 7326 5495 1758 73 LEGISLATIVE 84669 79733 4936 MEMBERSHIP 19951 18953 998 MISCELLANEOUS 4450 3338 1067 45 STAFF TRAINING 3070 2302 737 31 1788198 1301498 469962 16738 115695 361877 486382 260105 3303 12763 8042 49527 35810 18353 13717 464607 507333 12744 283903 1110544 1438280 54940 70852 112722 120187 4050 3890 279148 175602 470187 X 934942 968093 934942 968093 1110544 1438280 21026 12125 X false true X true false X 244450 226000 234600 234975 213980 1154005 244450 226000 234600 234975 213980 1154005 357605 796400 2564 536 12 681 206977 210770 4959 4959 1369734 1562581 0.58140 0.70290 X PART II, LINE 10 4,959 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED true true false false false false true 43222 false false 43222 false SCHEDULE C, PART II-B, LINE 1 1A - VOLUNTEERS ARE THE PRESIDENTS AND STUDENTS OF OUR MEMBER INSTITUTIONS WHO OCCASIONALLY VISIT THEIR REPRESENTATIVES AT THE CAPITOL AND THANK THEM FOR THEIR SUPPORT OF HIGHER EDUCATION IN TEXAS IN GENERAL. 1B - THE PRESIDENT OF ICUT FOUNDATION IS A REGISTERED LOBBYIST AND VISITS LEGISLATORS AT THE CAPITOL DURING SESSION TO ENCOURAGE THEM TO SUPPORT FINANCIAL AID BILLS AND OTHER BILLS THAT IMPACT OUR INSTITUTIONS AND THEIR STUDENTS. 1G - THIS DOLLAR AMOUNT REPRESENTS FUNDS PAID TO A LOBBYIST WHOM WE CONTRACT WITH WHO LOBBIES ON OUR BEHALF ON CERTAIN BILLS (22,400) AND THE PRESIDENT OF THE ICUT FOUNDATION WHO MEETS WITH LEGISLATORS OR THEIR STAFF ABOUT BILLS THAT AFFECT OUR MEMBERS OR STUDENTS (20,822). 11076 8617 2459 20889 11427 9462 17562 15766 1796 13717 OPERATING RIGHT-OF-USE ASSETS 275258 SECURITY DEPOSITS 8645 283903 OPERATING LEASE LIABILITY 275258 SECURITY DEPOSIT 3890 279148 X 1909522 12125 88173 100298 1809224 1809224 1876371 88173 88173 1788198 1788198 SCHEDULE D, PAGE 3, PART X THE MOST SIGNIFICANT TAX POSITIONS OF THE FOUNDATION ARE 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 HAS DETERMINED THAT THE FOUNDATION HAD NO ACTIVITY SUBJECT TO UBIT DURING THE FISCAL YEAR ENDED SEPTEMBER 30, 2023. 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. SCHEDULE D, PAGE 4, PART XI, LINE 2D RECLASSED RENT EXPENSE 88,173 SCHEDULE D, PAGE 4, PART XII, LINE 2D RECLASSED RENT EXPENSE 88,173 true PACCAR SCHOLARSHIP 42 85000 UPS SCHOLARSHIP 36 121600 SCHEDULE I, PAGE 1, PART I, LINE 2 REQUIRE 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. X true false X X X X false false false false false false false false false STEVEN JOHNSON CEO (10-12/22) 245360 5000 30043 11599 292002 ELIZABETH PUTHOFF PRESIDENT 170011 7500 21301 9858 208670 SCHEDULE J, PAGE 1, PART I, LINE 1A THE ORGANIZATION PAYS SOCIAL CLUB DUES FOR THE PRESIDENT, WHICH ARE DEEMED NECESSARY TO PERFORM JOB. FORM 990 - ORGANIZATION'S MISSION THE FOUNDATION SUPPORTS TEXAS' INDEPENDENT NONPROFIT COLLEGES AND UNIVERSITIES BY STRENGTHENING MEMBER INSTITUTIONS BY EDUCATING UNIVERSITY STAFF THROUGH SEMINARS AND TRAINING OPPORTUNITIES, EDUCATING STAKEHOLDERS ABOUT STRATEGIC ISSUES IMPORTANT TO PRIVATE HIGHER EDUCATION IN TEXAS, CONDUCTING RESEARCH AND PRODUCING COLLATERAL RELEVANT TO THE MISSION OF ITS MEMBERS, SEEKING AND DISTRIBUTING SCHOLARSHIPS FOR STUDENTS AT ITS MEMBERS, AND PROVIDING SIGNIFICANT COST SAVINGS THROUGH COLLABORATIVE PURCHASING AGREEMENTS FORM 990, PAGE 2, PART III, LINE 2 EDUCATION OF MEMBERS - THE ICUT FOUNDATION MEMBERSHIP CONSISTS OF 40 ACCREDITED INDEPENDENT INSTITUTIONS OF HIGHER EDUCATION IN TEXAS. ICUT FOUNDATION SERVES THESE MEMBERS BY EDUCATING THEM ON ISSUES AFFECTING THEIR INSTITUTIONS OR THEIR STUDENTS. THIS INCLUDES INNOVATIVE EDUCATIONAL TOOLS, NEW LAWS, RULES, REGULATIONS AND OTHER TOPICS OF INTEREST. WE COMMUNICATE THIS INFORMATION VIA WEBINARS, IN-PERSON TRAININGS AND MEETINGS, NEWSLETTERS AND EMAILS. IN ADDITION, WE COLLECT AND ANALYZE DATA FROM VARIOUS SOURCES TO PROVIDE RELEVANT INFORMATION TO OUR MEMBERS. MEMBER SERVICES - THE MEMBERS OF ICUT FOUNDATION HAVE ACCESS TO DOZENS OF GROUP PURCHASING AGREEMENTS OFFERING THEM SIGNIFICANT SAVINGS ON PRODUCTS AND SERVICES RELATED TO THEIR EDUCATIONAL PURPOSE. WE HOLD MEETINGS FOR VARIOUS GROUPS ON CAMPUS THAT PROVIDE A FORUM TO SHARE IDEAS AND LEARN ABOUT NEW INITIATIVES IN THEIR RESPECTIVE FIELDS. IN ADDITION, MEMBERS ARE ELIGIBLE TO PARTICIPATE IN AN ICUT FOUNDATION SELF-FUNDED HEALTH PLAN. LEGISLATIVE - THE MEMBERS OF ICUT FOUNDATION ARE REPRESENTED BY BOTH THE ICUT FOUNDATION PRESIDENT AND A CONTRACT LOBBYIST WHO MEET WITH STAKEHOLDERS TO EDUCATE THEM ON THE VALUE OF PRIVATE NON-PROFIT HIGHER EDUCATION IN TEXAS. FORM 990, PAGE 2, PART III, LINE 4D LEGISLATIVE - THE MEMBERS OF ICUT FOUNDATION ARE REPRESENTED BY BOTH THE ICUT FOUNDATION PRESIDENT AND A CONTRACT LOBBYIST WHO MEET WITH STAKEHOLDERS TO EDUCATE THEM ON THE VALUE OF PRIVATE NON-PROFIT HIGHER EDUCATION IN TEXAS. FORM 990, PART V PART V LINE 2A AND 2B - THE ORGANZATION CONTRACTS WITH A PROFESSIONAL EMPLOYER ORGANIZATION FOR THE PROCESSING OF PAYROLL. THEREFORE, NO W-2S WERE FILED BY THE ORGANIZATION. FORM 990, PAGE 6, PART VI, LINE 6 MEMBERS ARE LIMITED TO THE NON-PROFIT, TAX-EXEMPT, MULTIPURPOSE INDEPENDENT COLLEGES AND UNIVERSITIES WHOSE MAIN CAMPUSES ARE LOCATED IN THE STATE OF TEXAS. MEMBERS MUST BE ACCREDITED BY THE COMMISSION ON COLLEGES OF THE SOUTHERN ASSOCIATION OF COLLEGES AND SCHOOLS, THE LIAISON COMMITTEE ON MEDICAL EDUCATION OR THE AMERICAN BAR ASSOCIATION OR BE A FEDERALLY DESIGNATED WORK COLLEGE. FORM 990, PAGE 6, PART VI, LINE 7A A COLLEGE OR UNIVERSITY MAY BE NOMINATED FOR MEMBERSHIP BY THE CHIEF EXECUTIVE OFFICER OF A MEMBER IN GOOD STANDING OR MAY PETITION THE PRESIDENT OF THE FOUNDATION TO BE CONSIDERED FOR MEMBERSHIP. A COLLEGE OR UNIVERSITY THAT IS NOMINATED OR PETITIONS FOR MEMBERSHIP MUST PROVIDE THE PRESIDENT OF THE FOUNDATION EVIDENCE OF ACCREDITATION, PROOF OF NON-PROFIT STATUS AND NOTICE OF TAX-EXEMPTION FROM THE STATE OF TEXAS. ELECTION TO MEMBERSHIP REQUIRES A MAJORITY VOTE OF THE MEMBERS IN GOOD STANDING PRESENT AT THE ANNUAL MEETING. FORM 990, PAGE 6, PART VI, LINE 7B CERTAIN DECISIONS OF THE GOVERNING BOARD MUST BE APPROVED BY A MAJORITY VOTE OF A QUORUM OF THE VOTING MEMBERS. FORM 990, PAGE 6, PART VI, LINE 8B THERE ARE NO COMMITTESS WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BOARD. FORM 990, PAGE 6, PART VI, LINE 11B A DRAFT OF THE RETURN WAS SENT TO THE GOVERNING BOARD FOR THEIR REVIEW. THEN THE PREPARING CPA REVIEWS THE RETURN WITH THE GOVERNING BOARD AND ANSWERS QUESTIONS. THEN A FINAL COPY IS PRESENTED TO THE GOVERNING BOARD BEFORE FILING. FORM 990, PAGE 6, PART VI, LINE 12C THE GOVERNING BOARD MEMBERS 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, PAGE 6, PART VI, LINE 15A COMPENSATION FOR THE PRESIDENT WAS DETERMINED USING SALARY SURVEYS OF SIMILAR SIZE PEER ORGANIZATIONS. A LETTER STATING THE PROCESS AND DETERMINED SALARY WAS PROVIDED TO THE PRESIDENT AND WAS KEPT IN THE EMPLOYEE FILE. NO OTHER DIRECTORS WERE COMPENSATED. THE PRESIDENT DETERMINED SALARIES FOR OTHER EMPLOYEES BASED ON COMPARABLE DATA. FORM 990, PAGE 6, PART VI, LINE 19 GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.