ICUT Foundation

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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

1976

Legal Domicile

Phone

5124729522

Tax Period

2023-10-01 to 2024-09-30

ICUT Foundation, founded in 1976, is a community nonprofit that reported $1.9M in total revenue in fiscal year 2023. Expenses of $1.6M left a modest 14% surplus.

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, (CONTINUED ON SCHEDULE O)

Program Service Accomplishments

Program 1

Expenses: $619,188 Revenue: $1,427,116

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.

Program 2

Expenses: $258,013

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.

Program 3

Expenses: $233,000

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...

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.

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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 (2023)

Revenue Breakdown

Contributions & Grants $264,895

Program Service Revenue $1,422,573

Investment Income $62,256

Other Revenue $146,124

TOTAL REVENUE $1,895,848

Expense Breakdown

Grants Paid $233,000

Salaries & Benefits $807,365

Fundraising Expenses $14,381

Program Expenses $1,231,038

Other Expenses $586,676

TOTAL EXPENSES $1,627,041

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,895,848	$1,809,224	+0.0%
Expenses	$1,627,041	$1,788,198	-0.1%
Net Income	$268,807	$21,026	+11.8%

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

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

$340,652

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Charlie McCormick	Chair-Elect	4.0	Officer Director	$0	$0	$0
Debbie Cottrell	Treasurer	4.0	Officer Director	$0	$0	$0
Phil Schubert	Past Chair	4.0	Officer Director	$0	$0	$0
Richard Ludwick	Chair	4.0	Officer Director	$0	$0	$0
Steven O'Day	Secretary	4.0	Officer Director	$0	$0	$0
Gerald Turner	Director	4.0	Director	$0	$0	$0
Herman Felton	Director	4.0	Director	$0	$0	$0
Linda Livingstone	Director	4.0	Director	$0	$0	$0
Montserrat Fuentes	Director	4.0	Director	$0	$0	$0
Thomas Evans	Director	4.0	Director	$0	$0	$0
Vanessa Beasley	Director	4.0	Director	$0	$0	$0
Elizabeth Puthoff	President	40.0	Officer	$291,868	$48,784	$340,652
Lois Hollis	Senior Director	40.0	Highest	$114,234	$27,193	$141,427
Steven Johnson	Past President	40.0	Highest	$149,133	$23,999	$173,132

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
2024	$1,895,848	$1,627,041	$1,711,790	$268,807
2023	$1,809,224	$1,788,198	$1,438,280	$21,026
2022	$1,088,634	$225,100	$1,110,544	$863,534
2021	$234,612	$223,813	$222,305	$10,799
2020	$226,536	$219,058	$205,406	$7,478