INDEPENDENT COLLEGE FUND OF MARYLA… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1953

Legal Domicile

Principal Officer

MATTHEW POWER

Phone

4102690306

Tax Period

2024-07-01 to 2025-06-30

INDEPENDENT COLLEGE FUND OF MARYLAND INC, founded in 1953, is a small nonprofit in the Education sector that reported $146K in total revenue in fiscal year 2024. Net assets of $395K represent 33 months of operating reserves.

Mission

THE MISSION OF THE I-FUND IS TO PROVIDE COLLEGE ACCESS, CHOICE AND OPPORTUNITIES BY RAISING FUNDS, PRINCIPALLY FROM BUSINESSES AND FOUNDATIONS, TO PROVIDE SCHOLARSHIPS AND GRANTS TO STUDENTS ATTENDING I-FUND MEMBER INSTITUTIONS. THE I-FUND STRIVES TO EXPAND EDUCATIONAL OPPORTUNITIES TO DIVERSIFY LEADERSHIP IN THE CIVIC, CORPORATE, AND POLITICAL COMMUNITIES; TO STRENGTHEN THE DEMOCRATIC PROCESS BY PREPARING PEOPLE TO REASON AND DISCERN TRUTH; AND TO ENRICH THE LEARNING ENVIRONMENT BY PROVIDING SUPPORT FOR NEW PROGRAMS, TECHNOLOGIES AND OTHER RESOURCES. THE I-FUND'S PROGRAMS INCLUDE UNRESTRICTED SUPPORT, A POOLED SCHOLARSHIP FUND, NAMED SCHOLARSHIPS, AND DESIGNATED SCHOLARSHIPS.

Program Service Accomplishments

Program 1

Expenses: $55,510

THE POOLED SCHOLARSHIP PROGRAM HELPS ENSURE THE BENEFITS OF AN INDEPENDENT HIGHER EDUCATION ARE AVAILABLE TO MANY QUALIFIED STUDENTS FOR WHOM THE COST OF COLLEGE WOULD OTHERWISE BE OUT OF REACH...

THE POOLED SCHOLARSHIP PROGRAM HELPS ENSURE THE BENEFITS OF AN INDEPENDENT HIGHER EDUCATION ARE AVAILABLE TO MANY QUALIFIED STUDENTS FOR WHOM THE COST OF COLLEGE WOULD OTHERWISE BE OUT OF REACH. SCHOLARSHIPS FROM THIS FUND ARE AWARDED TO STUDENTS OF ALL MAJORS BASED ON FINANCIAL NEED. GRANTS FUND BASIC AND EMERGENCY FINANCIAL NEEDS.

Program 2

Expenses: $43,873

THE DESIGNATED SCHOLARSHIP PROGRAM ALLOWS DONORS TO CHOOSE THE SPECIFIC I-FUND MEMBER COLLEGE THAT WILL BENEFIT FROM THEIR GIFT TO THE I-FUND. THE NAMED SCHOLARSHIP FUND PROVIDES BUSINESSES AND...

THE DESIGNATED SCHOLARSHIP PROGRAM ALLOWS DONORS TO CHOOSE THE SPECIFIC I-FUND MEMBER COLLEGE THAT WILL BENEFIT FROM THEIR GIFT TO THE I-FUND. THE NAMED SCHOLARSHIP FUND PROVIDES BUSINESSES AND FOUNDATION PARTNERS THE OPPORTUNITY TO DEMONSTRATE THEIR COMMITMENT TO HIGHER EDUCATION BY CREATING NAMED SCHOLARSHIPS, WHICH ARE AWARDED TO ONE STUDENT AT EACH MEMBER COLLEGE BASED ON FINANCIAL NEED.

Program 3

Expenses: $27,000

THE I-FUND IS ALSO A MEMBER OF THE FOUNDATION FOR INDEPENDENT HIGHER EDUCATION WHICH COLLABORATES WITH HUNDREDS OF PRIVATE COLLEGES ACROSS THE NATION AND IS A PRIMARY VOICE OF INDEPENDENT HIGHER...

THE I-FUND IS ALSO A MEMBER OF THE FOUNDATION FOR INDEPENDENT HIGHER EDUCATION WHICH COLLABORATES WITH HUNDREDS OF PRIVATE COLLEGES ACROSS THE NATION AND IS A PRIMARY VOICE OF INDEPENDENT HIGHER EDUCATION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $145,524

Program Service Revenue $0

Investment Income $7

Other Revenue $0

TOTAL REVENUE $145,531

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $126,383

Other Expenses $159,383

TOTAL EXPENSES $159,383

Year-over-Year Comparison

	2024	2023	Change
Revenue	$145,531	$138,236	+0.1%
Expenses	$159,383	$170,303	-0.1%
Net Income	$-13,852	$-32,067	-0.6%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NORA DEMLEITNER	PRESIDENT	0.25	Officer Director	$0	$0	$0
BRADFORD SIMS	SECRETARY	0.25	Officer Director	$0	$0	$0
MIKE SOSULSKI	TREASURER	0.25	Officer Director	$0	$0	$0
MATTHEW POWER	MANAGING DIRECTOR	3.00	Officer	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$145,531	$159,383	$394,618	$-13,852
2024	$138,236	$170,303	$382,600	$-32,067
2023	$189,067	$167,817	$408,984	$21,250
2022	$131,973	$179,979	$358,767	$-48,006
2021	$321,387	$313,366	$498,636	$8,021
2020	$300,499	$258,148	$423,505	$42,351
2019	$405,095	$456,372	$377,894	$-51,277

INDEPENDENT COLLEGE FUND OF MARYLAND INC