INDEPENDENT COLLEGE ENTERPRISE INC

EIN: 550777066 501(c)(3) Education

CHARLESTON, WV

Total Revenue
$2,643,026
Total Expenses
$2,193,429
Total Assets
$2,780,337
Net Assets
$2,686,245
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2001
Legal Domicile
WV
Principal Officer
CLETA HARLESS
Phone
3043403720
Tax Period
2022-07-01 to 2023-06-30

INDEPENDENT COLLEGE ENTERPRISE INC, founded in 2001, is a community nonprofit in the Education sector that reported $2.6M in total revenue in fiscal year 2022. The organization ran a surplus of $450K, a strong 17% operating margin.

Mission

ICE IS A CONSORTIUM OF NINE PRIVATE COLLEGES IN WEST VIRGINIA, VIRGINIA, TENNESSEE, ALABAMA AND NORTH CAROLINA CREATED TO PROVIDE A BASIS FOR COLLABORATION AMONG ITS MEMBER SCHOOLS, BOTH IN SHARING OF INFORMATION TECHNOLOGY RESOURCES AND IN THE CONSOLIDATION OF OPERATING FUNCTIONS WHERE PRACTICAL.

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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%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $2,613,432
Investment Income $29,594
Other Revenue $0
TOTAL REVENUE $2,643,026

Expense Breakdown

Grants Paid $0
Salaries & Benefits $643,016
Fundraising Expenses $0
Program Expenses $1,761,993
Other Expenses $1,550,413
TOTAL EXPENSES $2,193,429

Year-over-Year Comparison

2022 2021 Change
Revenue $2,643,026 $2,557,380 +0.0%
Expenses $2,193,429 $2,205,292 0.0%
Net Income $449,597 $352,088 +0.3%
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

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Governance

Voting Members
8
Independent Members
N/A
Employees
N/A
Volunteers
9

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
6
$146,006
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CHRIS WOOD CHAIR 2.00
Officer Director
$0 $0 $0
DR MARTIN S ROTH PRESIDENT 2.00
Officer Director
$0 $0 $0
JAMES MOORE SECRETARY 2.00
Officer Director
$0 $0 $0
CLETA HARLESS TREASURER 2.00
Officer Director
$0 $0 $0
JAMIE CARIDI DIRECTOR 2.00
Director
$0 $0 $0
CYNTHIA WARRICK DIRECTOR 2.00
Director
$0 $0 $0
BRIAN RALPH DIRECTOR 2.00
Director
$0 $0 $0
SCOTT HUMMEL DIRECTOR 2.00
Director
$0 $0 $0
LARRY KAMONS CEO - PART YEAR 40.00
Officer
$55,121 $7,866 $62,987
SHELLEY NASON CEO - PART YEAR 40.00
Officer
$75,854 $7,165 $83,019
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
2023 $2,643,026 $2,193,429 $2,780,337 $449,597
2022 $2,557,380 $2,205,292 $2,519,089 $352,088
2021 $2,354,499 $2,280,544 $1,960,767 $73,955
2020 $2,237,387 $2,258,574 $1,910,760 $-21,187
2019 $2,393,093 $2,344,078 $1,832,530 $49,015
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