2025-04-15T16:05:49+00:00 2024-09-30 440160260 Forvis Mazars LLP 8200 W Interstate 10 Suite 900 San Antonio TX 782303806 990 2023-10-01 751540769 ICUT Foundation ICUT 5124729522 1303 San Antonio St STE 820 Austin TX 78701 Elizabeth Puthoff President 2025-04-15 true Robert Ulloa P01953132 2103419400 2025-04-15 2023 2025-03-06 01:10:19Z Charlie McCormick 1303 San Antonio St STE 820 Austin TX 78701 1895848 false X icut.org/page/FoundationOverview X 1976 TX The Foundation supports Texas' independent nonprofit colleges and universities by strengthening member institutions through education. 11 11 6 11 0 0 213980 264895 1474408 1422573 65940 62256 54896 146124 1809224 1895848 206600 233000 0 916095 807365 0 14381 665503 586676 1788198 1627041 21026 268807 1438280 1711790 470187 420844 968093 1290946 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, (CONTINUED ON SCHEDULE O) false false 619188 1427116 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. 258013 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. 233000 233000 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 2024, the ICUT Foundation awarded 44 scholarships totaling $233,000. 120837 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. 120837 1231038 true true false true 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 5 0 true 6 true 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 Charlie McCormick Chair-Elect 4.0 0.0 X X 0 0 0 Debbie Cottrell Treasurer 4.0 0.0 X X 0 0 0 Phil Schubert Past Chair 4.0 0.0 X X 0 0 0 Richard Ludwick Chair 4.0 0.0 X X 0 0 0 Steven O'Day Secretary 4.0 0.0 X X 0 0 0 Gerald Turner Director 4.0 0.0 X 0 0 0 Herman Felton Director 4.0 0.0 X 0 0 0 Linda Livingstone Director 4.0 0.0 X 0 0 0 Montserrat Fuentes Director 4.0 0.0 X 0 0 0 Thomas Evans Director 4.0 0.0 X 0 0 0 Vanessa Beasley Director 4.0 0.0 X 0 0 0 Elizabeth Puthoff President 40.0 0.0 X 291868 0 48784 Lois Hollis Senior Director 40.0 0.0 X 114234 0 27193 Steven Johnson Past President 40.0 0.0 X 149133 0 23999 555235 0 99976 3 false true false 0 264895 264895 Membership Dues 900099 1359379 1359379 Meeting Fees 900099 62444 62444 Program Sponsorship 900099 750 750 0 0 0 0 1422573 62256 62256 53979 53979 0 0 0 0 Reimbursements 900099 89195 1593 87602 Refunds 900099 2950 2950 0 0 0 0 92145 1895848 1427116 0 203837 233000 233000 340652 227912 109533 3207 396784 265467 127583 3734 23415 15666 7529 220 10272 6872 3303 97 36242 24248 11653 341 4606 1884 2722 15540 6357 9183 8091 8091 31711 12971 18740 0 12500 5113 7387 18601 14073 4346 182 16863 12647 4047 169 182495 136870 43799 1826 42528 36182 5355 991 141999 120810 17881 3308 4969 3727 1242 7963 5972 1911 80 Legislative 76277 76277 Miscellaneous 22533 16899 5408 226 0 0 0 0 1627041 1231038 381622 14381 361877 801245 260105 108674 3303 17927 0 0 0 0 8042 27654 50144 40779 13717 9365 507333 591004 0 0 283903 155921 1438280 1711790 70852 34954 120187 234827 0 0 279148 151063 470187 420844 X 968093 1290946 968093 1290946 1438280 1711790 268807 54046 0 X false true X true false X 226000 234600 234975 213980 264895 1174450 0 0 226000 234600 234975 213980 264895 1174450 379360 795090 536 12 681 206977 203837 412043 0 0 0 0 0 0 0 1586493 2906483 0.5012 0.5814 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 8091 8091 1222947 1231038 198104 0 49526 0 0 198104 198104 297156 8091 8091 49526 49526 74289 0 0 Schedule C, Part II-A, Line 1b, Column (a) Direct Lobbying Activities THIS DOLLAR AMOUNT REPRESENTS FUNDS PAID TO A LOBBYIST WHOM WE CONTRACT WITH WHO LOBBIES ON OUR BEHALF ON CERTAIN BILLS ($3,850) AND THE PRESIDENT OF THE ICUT FOUNDATION WHO MEETS WITH LEGISLATORS OR THEIR STAFF ABOUT BILLS THAT AFFECT OUR MEMBERS OR STUDENTS ($4,241). LOBBYING IS MUCH LESS DURING A YEAR (SUCH AS THIS ONE) WHEN THE LEGISLATURE IS NOT IN SESSION. 11076 9848 1228 21506 13549 7957 17562 17382 180 9365 Operating Right-of-Use Assets 147276 Security Deposits 8645 155921 Operating Lease Liability 147173 Security Deposit 3890 151063 X 1949894 54046 0 54046 1895848 0 0 1895848 1627041 0 0 1627041 0 0 1627041 Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. true PACCAR Scholarship 22 100000 UPS Scholarship 22 133000 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. 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 X true false X X X X true false false false false false false false false Elizabeth Puthoff President 284368 0 0 0 7500 0 35024 0 13760 0 340652 0 0 0 Steven Johnson Past President 149133 0 0 0 0 0 17896 0 6103 0 173132 0 0 0 Schedule J, Part I, Line 4a Severance or change-of-control payment Steve Johnson was paid the equivalent of 6 months wages at his regular salary minus lawful deductions as severance pay. Mr. Johnson was also paid a lump sum for his remaining unused vacation at the time of separation. The payments were made in 12 equal installments beginning at the start of 2023. Severance paid in 2023 was $133,687 plus $27,162 of unused vacation. Schedule J, Part I, Line 1a Explanation of Benefits The Organization pays social club dues for the President, which are deemed necessary to perform job. The president also received reimbursement for automobile expenses, which was taxable and reported on form W-2. Form 990, Part III, Line 1 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, Part III, Line 4d Description of other program services (Expenses $ 120,837 including grants of $) 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, Line 2a & 2b The Organization contracts with a professional employer Organization for the processing of payroll. Therefore, no W-2s were filed by the Organization. Form 990, Part VI, Line 6 Classes of members or stockholders 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, Part VI, Line 7a Members or stockholders electing members of governing body 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, Part VI, Line 7b Decisions requiring approval by members or stockholders Certain decisions of the Governing Board must be approved by a majority vote of a quorum of the voting members. Form 990, Part VI, Line 8b Documentation of meetings held by committees of governing body There are no committees with authority to act on behalf of the Governing Board. Form 990, Part VI, Line 11b Review of form 990 by governing body A final draft of the return was reviewed first by the Financial Consultant and the President. After that, it was sent to the Governing Board for their review. Following that, the final copy was submitted to the IRS and sent to the Governing Board. Form 990, Part VI, Line 12c Conflict of interest policy All Members of the Governing Board must review and sign the conflict of interest policy on an annual basis. A list of current vendors is provided to the board members to assist in accurate completion of the policy. Should a conflict of interest arise, the person associated with the conflict is excluded from discussion, debate, and decision making on the matter. Form 990, Part VI, Line 15a Process to establish compensation of top management official 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, Part VI, Line 19 Required documents available to the public Governing documents and financial statements are available upon request.