2024-11-14T15:33:17-06:00 2024-06-30 352123203 KSM BUSINESS SERVICES INC PO BOX 40857 INDIANAPOLIS IN 46240 990 2023-07-01 237073977 IVY TECH FOUNDATION INC IVYT 3179214749 50 W FALL CREEK PKWY NORTH DRIVE INDIANAPOLIS IN 462085752 COURTNEY ROBERTS PRESIDENT 3179214749 2024-11-14 1 1 CASSE TATE P01271193 3175802000 2024-11-11 2023 2024-10-15 13:58:12Z COURTNEY ROBERTS 50 W FALL CREEK PKWY NORTH DRIVE INDIANAPOLIS IN 462085752 491726405 0 X HTTPS://GIVING.IVYTECH.EDU/ X 1969 IN TO RECEIVE, HOLD, INVEST AND ADMINISTER PROPERTY; AND TO SOLICIT AND RECEIVE CONTRIBUTIONS; AND TO MAKE EXPENDITURES TO OR FOR THE BENEFIT OF IVY TECH COMMUNITY COLLEGE. 50 49 0 400 0 0 34071141 17886059 0 0 6234235 4817344 828646 328807 41134022 23032210 5255429 5037944 0 0 0 0 135728 110920 391806 19552305 22035659 24943462 27184523 16190560 -4152313 147776928 149886491 580842 625914 147196086 149260577 X TO RECEIVE, HOLD, INVEST AND ADMINISTER PROPERTY; AND TO SOLICIT AND RECEIVE CONTRIBUTIONS; AND TO MAKE EXPENDITURES TO OR FOR THE BENEFIT OF IVY TECH COMMUNITY COLLEGE. 0 0 5037944 5037944 SOLICITING, RECEIVING, ADMINISTERING AND DISTRIBUTING DONATIONS FOR FINANCIAL AID FOR STUDENTS ATTENDING IVY TECH COMMUNITY COLLEGE 2525774 COLLEGE, FACILITIES AND EQUIPMENT, AND REAL ESTATE MANAGEMENT 11906852 PROVIDING SUPPORT FOR SPECIAL, INNOVATIVE PROGRAMS OF IVY TECH COMMUNITY COLLEGE. 4405275 HELPING FUND OTHER PROGRAM EXPENDITURES FOR IVY TECH COMMUNITY COLLEGE OF INDIANA, INCLUDING FACULTY AND STAFF DEVELOPMENT, EMPLOYEE RECOGNITION, AND COMMUNITY OUTREACH EXPENDITURES. 4405275 23875845 1 1 0 0 0 0 0 1 0 1 1 1 0 1 1 1 0 1 0 0 0 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 1 76 0 1 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 X 50 49 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 0 0 0 IN X X THOMAS SKIDMORE 3179214749 50 WEST FALL CREEK PARKWAY NORTH INDIANAPOLIS IN 462085752 SUE ELLSPERMANN PRESIDENT, COLLEGE 2.00 38.00 X X 0 504891 116191 LAUREN SALERNO CHAIRPERSON 2.00 X X 0 0 0 VINCENT VIVEROS VICE CHAIR 2.00 X X 0 0 0 BRIAN STATER TREASURER 2.00 X X 0 0 0 SCOTT MILLER SECRETARY 2.00 X X 0 0 0 A H SCHUMAKER II BOARD MEMBER 2.00 X 0 0 0 ALISA HECIMOVICH BOARD MEMBER 2.00 X 0 0 0 ALPA PATEL BOARD MEMBER 2.00 X 0 0 0 BRIAN STATZ BOARD MEMBER 2.00 X 0 0 0 CATHERINE HOFFMAN BOARD MEMBER 2.00 X 0 0 0 CELESTE CALVITTO BOARD MEMBER 2.00 X 0 0 0 CINDY KINNARNEY BOARD MEMBER 2.00 X 0 0 0 CONNIE FERGUSON BOARD MEMBER 2.00 X 0 0 0 CONSTANCE BROWN BOARD MEMBER 2.00 X 0 0 0 DAVID GOODMAN BOARD MEMBER 2.00 X 0 0 0 DONNA PFEIL BOARD MEMBER 2.00 X 0 0 0 GLEN MUEHLBAUER BOARD MEMBER 2.00 X 0 0 0 HEATHER SCHOEGLER BOARD MEMBER 2.00 X 0 0 0 J MICHAEL JARVIS BOARD MEMBER 2.00 X 0 0 0 JAMES GOTHARD BOARD MEMBER 2.00 X 0 0 0 JAMES ORBIK BOARD MEMBER 2.00 X 0 0 0 JENNIFER HINDMAN BOARD MEMBER 2.00 X 0 0 0 JESSE BRAND BOARD MEMBER 2.00 X 0 0 0 JODI ENGELSTAD BOARD MEMBER 2.00 X 0 0 0 JOSH PETERS BOARD MEMBER 2.00 X 0 0 0 KEITH O'NEAL BOARD MEMBER 2.00 X 0 0 0 KEVIN AHAUS BOARD MEMBER 2.00 X 0 0 0 KIM EMMERT-O'DELL BOARD MEMBER 2.00 X 0 0 0 LARRY SMITH BOARD MEMBER 2.00 X 0 0 0 LEO BRADDOCK BOARD MEMBER 2.00 X 0 0 0 LORI DANIELSON BOARD MEMBER 2.00 X 0 0 0 LU PORTER BOARD MEMBER 2.00 X 0 0 0 MAMON POWERS III BOARD MEMBER 2.00 X 0 0 0 MARCUS HESTER BOARD MEMBER 2.00 X 0 0 0 MELISSA PROFFITT BOARD MEMBER 2.00 X 0 0 0 MIKE HARMLESS BOARD MEMBER 2.00 X 0 0 0 NANCY RHODES BOARD MEMBER 2.00 X 0 0 0 PAUL PERKINS BOARD MEMBER 2.00 X 0 0 0 PAULA HEIDERMAN BOARD MEMBER 2.00 X 0 0 0 PAULA HUGHES-SCHUH BOARD MEMBER 2.00 X 0 0 0 PHIL BANE BOARD MEMBER 2.00 X 0 0 0 REBECCA KUBACKI BOARD MEMBER 2.00 X 0 0 0 RONALD FAUQUHER BOARD MEMBER 2.00 X 0 0 0 SALLY DEVOE BOARD MEMBER 2.00 X 0 0 0 SCOTT KLEPPE BOARD MEMBER 2.00 X 0 0 0 SCOTT WALLSMITH BOARD MEMBER 2.00 X 0 0 0 STEVEN SCHRECKENGAST BOARD MEMBER 2.00 X 0 0 0 TERRY ANKER BOARD MEMBER 2.00 X 0 0 0 THOMAS MARCUCCILLI BOARD MEMBER 2.00 X 0 0 0 WILLIAM GUTZWILLER BOARD MEMBER 2.00 X 0 0 0 BECKY MILLER VICE PRESIDENT 38.00 2.00 X 0 201356 35708 THOMAS SKIDMORE ASSISTANT TREASURER 38.00 2.00 X 0 223565 47565 ANNETTE FLICKINGER ASSISTANT SECRETARY 38.00 2.00 X 0 124913 34123 BRIAN THOMAS AVP - GRANT DEVELOPMENT 38.00 2.00 X 0 114758 31976 COURTNEY ROBERTS PRESIDENT, FOUNDATION 38.00 2.00 X 0 375300 29073 0 1544783 294636 0 0 1 0 JOHNSON GROSSNICKLE & ASSOCIATES 29 S PARK BLVD GREENWOOD IN 46143 FUNDRAISING CONSULTANT 123965 1 823407 17062652 756926 17886059 4063771 4063771 19148 19148 326905 119380 207525 207525 207525 468796539 468042966 753573 753573 753573 203732 823407 531849 -328117 -328117 VENDING INCOME 900099 327873 327873 102378 102378 430251 23032210 0 0 5146151 5037944 5037944 97500 97500 110920 110920 112859 112859 665792 525571 134899 5322 329720 215692 6702 107326 328251 945 324447 2859 84580 84159 90 331 377 377 205650 205650 217523 217523 SPECIAL PROGRAMS 11906852 11906852 INSTRUCTION SUPPLIES AN 2938323 2865293 40457 32573 ADMINISTRATIVE EXPENSE 1496167 1496167 GENERAL ASSISTANCE TO C 1254928 1027971 205039 21918 2397137 2005391 281189 110557 27184523 23875845 2916872 391806 354992 485338 2911071 3309108 26549234 23081009 5565633 2707391 3267924 2858242 96041373 100217786 8210184 9492858 10442150 10442150 147776928 149886491 26006 237897 75453 180124 92754 299259 295263 580842 625914 X 16917161 28116838 130278925 121143739 147196086 149260577 147776928 149886491 X -4152313 6100060 116744 X X 0 1 X 1 0 X 19431625 26739003 36677542 34071141 17886059 134805370 19431625 26739003 36677542 34071141 17886059 134805370 32137133 102668237 3247390 2358449 2709916 4117843 4409824 16843422 456078 688285 820490 430251 2395104 154043896 425978 0.66650 0.69480 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: VENDING INCOME - 2020 AMOUNT: $ 235,129. 2021 AMOUNT: $ 185,279. 2022 AMOUNT: $ 337,124. 2023 AMOUNT: $ 327,873. OTHER INCOME - 2020 AMOUNT: $ 220,949. 2021 AMOUNT: $ 503,006. 2022 AMOUNT: $ 483,366. 2023 AMOUNT: $ 102,378. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X USE IN ART EDUCATION 0 48887080 1195121 5210373 2131072 53161502 42979959 4565095 3762428 2420402 48887080 46443682 3400663 -4870603 1993783 42979959 39584332 938304 8052118 2131072 46443682 38967455 1562718 1227048 2172889 39584332 0.00000 0.88981 0.11019 1 0 202833 202833 3868060 2485862 1382198 1494740 221529 1273211 2858242 HEDGE FUNDS 8028332 F BENEFICIAL INTEREST IN TRUSTS 1307005 F LIFE INSURANCE CONTRACT 157521 F 9492858 NOTE RECEIVABLE FROM BANK 10442150 10442150 SPLIT INTEREST LIABILITY 11256 ANNUITIES PAYABLE 284007 295263 X 33749644 6100060 4837569 246035 11183664 22565980 210359 255871 466230 23032210 32602645 4837569 1061542 5899111 26703534 210359 270630 480989 27184523 PART III, LINE 4: COLLECTION CONSISTS OF 50 PIECES OF ARTWORK IN LAFAYETTE REGION, FOR ONE OR MORE OF THE FOLLOWING PURPOSES: 1) FURTHERANCE OF IVY TECH ART PROGRAM, 2) TEACHING ART TO THE ART STUDENTS 3) DISPLAY AS PART OF ITS ART COLLECTIONS. PART V, LINE 4: THE ENDOWMENT FUNDS ARE UTILIZED TO ASSIST THE MISSION OF IVY TECH COMMUNITY COLLEGE. MOST FUNDS PROVIDE SCHOLARSHIPS FOR STUDENTS ATTENDING THE COLLEGE. THE REMAINDER OF THE FUNDS PROVIDE PROGRAMS, FACILITIES, SUPPLIES AND EQUIPMENT TO THE COLLEGE. THE FOUNDATION'S POLICY IS TO ANNUALLY DISTRIBUTE 4% OF THE ENDOWMENT'S ASSET VALUE. PART X, LINE 2: IVY TECH FOUNDATION, INC. IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). COMMUNITY ENTERPRISES PROPERTIES, LLC AND IVY TECH LOAN FUND, LLC ARE SINGLE MEMBER, MEMBER MANAGED LIMITED LIABILITY COMPANIES THAT ARE TREATED AS DISREGARDED ENTITIES FOR FEDERAL AND STATE INCOME TAX PURPOSES, AND THUS ARE ALSO EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE IRC. IN ADDITION, IVY TECH FOUNDATION, INC. HAS BEEN DETERMINED BY THE INTERNAL REVENUE SERVICE NOT TO BE A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(A) OF THE IRC. HOWEVER, THE FOUNDATION IS SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE IRC. THERE WAS NO UNRELATED BUSINESS INCOME TAX FOR THE YEARS ENDED JUNE 30, 2024 AND 2023. THE FOUNDATION FILES U.S. FEDERAL AND STATE OF INDIANA INFORMATION RETURNS. THE FOUNDATION IS NO LONGER SUBJECT TO U.S. FEDERAL AND STATE INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE THE YEAR ENDED JUNE 30, 2021. MANAGEMENT BELIEVES THAT THE FOUNDATION'S INCOME TAX FILING POSITIONS WILL BE SUSTAINED ON AUDIT AND DOES NOT ANTICIPATE ANY ADJUSTMENTS THAT WILL RESULT IN A MATERIAL CHANGE. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 119,380. REVENUE OF SUBSIDIARIES 126,655. PART XI, LINE 4B - OTHER ADJUSTMENTS: ALLOWANCE FOR UNCOLLECTABLE AMOUNTS 270,630. CHANGE IN BENEFICIAL INTEREST OF TRUST -14,759. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 119,380. EXPENSES OF SUBSIDIARIES 942,162. PART XII, LINE 4B - OTHER ADJUSTMENTS: ALLOWANCE FOR UNCOLLECTABLE AMOUNTS 270,630. X X X X X X X 1 JOHNSON GROSSNICKLE & ASSOCIATES 29 S PARK BLVD GREENWOOD IN 46143 FUNDRAISING CONSULTANT 0 8685892 110920 8574972 8685892 110920 8574972 IN BENEFACTOR AND DISTINGUISHED ALUMNI 281820 210154 71666 211063 IVY IMPACT GALA 182970 134485 48485 96533 20 562349 478768 83581 224253 1027139 823407 203732 531849 531849 -328117 1 SCHOLARSHIPS AND OTHER FINANCIAL AID 4632 5037944 PART I, LINE 2: GRANT ALLOCATIONS ARE DIRECTLY GIVEN TO IVY TECH COMMUNITY COLLEGE. THE COLLEGE AWARDS SCHOLARSHIPS BASED ON PRESET CRITERIA AND MONITORS THE USE OF THE GRANT MONEY. THE FOUNDATION ALSO PROVIDES GRANTS TO OTHER ORGANIZATIONS TO FURTHER THE EDUCATION MISSION OF IVY TECH COMMUNITY COLLEGE. THESE GRANTS ARE MONITORED ON A CASE-BY-CASE BASIS. 0 0 0 0 0 0 0 0 0 SUE ELLSPERMANN PRESIDENT, COLLEGE 0 443203 0 0 0 61688 0 105569 0 10622 0 621082 0 0 COURTNEY ROBERTS PRESIDENT, FOUNDATION 0 287311 0 0 0 87989 0 28710 0 363 0 404373 0 0 THOMAS SKIDMORE ASSISTANT TREASURER 0 165950 0 0 0 57615 0 26104 0 21461 0 271130 0 0 BECKY MILLER VICE PRESIDENT 0 164768 0 0 0 36588 0 25232 0 10476 0 237064 0 0 ANNETTE FLICKINGER ASSISTANT SECRETARY 0 123365 0 0 0 1548 0 15255 0 18868 0 159036 0 0 PART I, LINE 3 THE IVY TECH FOUNDATION HAS NO EMPLOYEES. THE FOUNDATION CONTRACTS WITH IVY TECH COMMUNITY COLLEGE FOR SERVICES PERFORMED BY COLLEGE EMPLOYEES THAT BENEFIT THE FOUNDATION. COLLEGE SALARIES ARE ESTABLISHED BASED UPON COMPARATIVE SALARY ANALYSIS OF COLLEGE EMPLOYEES IN COMPARABLE POSITIONS, CONSIDERATION OF ECONOMIES OF SCALE, INPUT FROM HUMAN RESOURCES AND FINAL APPROVAL OF APPROPRIATE COLLEGE OFFICER. X 6 3884 FAIR MARKET VALUE X 132754 FAIR MARKET VALUE X 12 39928 FAIR MARKET VALUE X 13 94219 FAIR MARKET VALUE X MACHINERY AND EQUIPMENT 39 452689 FAIR MARKET VALUE X FOOD, ETC. 102 15206 FAIR MARKET VALUE X OFFICE SUPPLIES 3 12094 FAIR MARKET VALUE X ENTERTAINMENT PACKAGES 35 6152 FAIR MARKET VALUE 0 1 0 FORM 990, ITEM G THE AMOUNT REPORTED IN ITEM G INCLUDES ALL SOURCES OF GROSS RECEIPTS INCLUDING PROCEEDS FROM SALE OF SECURITIES. IN ORDER TO MAXIMIZE RETURNS AND TAKE ADVANTAGE OF HIGH SHORT-TERM INTEREST RATES IN FISCAL-YEAR 2024, IVY TECH FOUNDATION INVESTED IN A MUCH LARGER VOLUME OF SHORT-TERM BONDS. AS BONDS MATURED, PROCEEDS WERE REINVESTED IN NEW BONDS. THIS CYCLE DRAMATICALLY INCREASED THE TOTAL PROCEEDS FROM SALES OF SECURITIES. ITEM G DOES NOT REFLECT THE OFF-SETTING COST OF SECURITIES. THERE WAS NO NET NEW MONEY AVAILABLE FOR USE. THERE HAVE BEEN NO CHANGES TO THE INVESTMENT POLICY OR MANAGER. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT OF FORM 990 WILL FIRST BE THOROUGHLY REVIEWED BY THE AUDIT AND ADMINISTRATIVE POLICIES COMMITTEE. ANY APPROPRIATE REVISIONS WILL BE MADE AND THEN THE UPDATED FORM 990 WILL BE SENT TO ALL BOARD MEMBERS FOR THEIR REVIEW AND COMMENTS. AGAIN, ANY APPROPRIATE REVISIONS WILL BE MADE BEFORE FILING. IF SUBSTANTIAL REVISIONS ARE NEEDED, THE FORM 990 WILL BE CIRCULATED A SECOND TIME TO ALL BOARD MEMBERS BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY INCLUDES A FORM TO BE COMPLETED AND SUBMITTED ANNUALLY. THE FORM REQUIRES INFORMATION REGARDING EACH RECIPIENTS FINANCIAL INTERESTS AND EMPLOYMENT. THE CONTENT OF EACH FORM IS REVIEWED BY THE ASSISTANT TREASURER TO ASSESS ANY POTENTIAL CONFLICTS OF INTEREST. IF CONFLICTS OF INTEREST EXIST, THE POLICY PROVIDES THE PROCEDURAL GUIDELINES. FORM 990, PART VI, SECTION B, LINE 15 THE IVY TECH FOUNDATION HAS NO EMPLOYEES. THE FOUNDATION CONTRACTS WITH IVY TECH COMMUNITY COLLEGE FOR SERVICES PERFORMED BY COLLEGE EMPLOYEES THAT BENEFIT THE FOUNDATION. COLLEGE SALARIES ARE ESTABLISHED BASED UPON COMPARATIVE SALARY ANALYSIS OF COLLEGE EMPLOYEES IN COMPARABLE POSITIONS, CONSIDERATION OF ECONOMIES OF SCALE, INPUT FROM HUMAN RESOURCES AND FINAL APPROVAL OF APPROPRIATE COLLEGE OFFICER. FORM 990, PART VI, SECTION C, LINE 18 THE IVY TECH FOUNDATION FILES FORM 990 AND MAKES IT AVAILABLE TO THE PUBLIC AS FOLLOWS: 1) IVY TECH COMMUNITY COLLEGE'S WEBSITE, 2) IVY TECH FOUNDATION'S OFFICE LOCATION IN INDIANAPOLIS, IN AND 3) UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC AS FOLLOWS: 1) IVY TECH COMMUNITY COLLEGE'S WEBSITE, 2) INCLUSION WITHIN IVY TECH COMMUNITY COLLEGE'S ANNUAL FINANCIAL REPORT, WHICH IS AVAILABLE TO THE PUBLIC, AND 3) UPON REQUEST. FORM 990, PART XI, LINE 9: TRANSFER TO IVY TECH PROPERTIES, INC. (NET) 103,685. TRANSFER FROM COMMUNITY ENTERPRISES, INC. (NET) -1,700. CHANGE IN BENEFICIAL INTEREST OF TRUST 14,759. FORM 990, PART XII, LINE 2C NEITHER THE AUDIT OVERSIGHT NOR INDEPENDENT ACCOUNTANT SELECTION PROCESSES HAVE CHANGE FROM THE PRIOR YEAR. COMMUNITY ENTERPRISES PROPERTIES LLC 50 W FALL CREEK PARKWAY N DRIVE INDIANAPOLIS IN 46208 271333852 REAL ESTATE HOLDING IN 380031 1755181 IVY TECH FOUNDATION INC IVY TECH LOAN FUND LLC 50 W FALL CREEK PARKWAY N DRIVE INDIANAPOLIS IN 46208 851557865 LOAN FUND IN 113684 10878885 IVY TECH FOUNDATION INC IVY TECH COMMUNITY COLLEGE OF INDIANA 50 W FALL CREEK PARKWAY N DRIVE INDIANAPOLIS IN 46208 351180631 POST-SECONDARY EDUCATION IN 170(B)(1)(A) (II) N/A 0 IVY TECH PROPERTIES INC 50 W FALL CREEK PARKWAY NORTH DRIVE INDIANAPOLIS IN 46208 454551412 ACQUIRE, OWN AND REDEVELOP PROPERTY FOR THE BENEFIT OF IVY TECH COMMUNITY CO IN 501(C)(2) IVY TECH FOUNDATION INC 1 COMMUNITY ENTERPRISES INC 50 W FALL CREEK PARKWAY N DRIVE INDIANAPOLIS IN 46208 943447601 INVESTMENTS IN N/A C -1700 1.00000 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 IVY TECH COMMUNITY COLLEGE OF INDIANA - SCHOLARSHIPS B 5037944 FMV IVY TECH COMMUNITY COLLEGE OF INDIANA O 4073845 FMV IVY TECH COMMUNITY COLLEGE OF INDIANA R 22603154 FMV IVY TECH PROPERTIES INC S 103685 FMV COMMUNITY ENTERPRISES INC R 1700 FMV