Program areas at ICUT Foundation
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.
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 2023, the Icut Foundation awarded 78 scholarships totaling 206,600.
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.
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.
Who funds ICUT Foundation
Grants from foundations and other nonprofits
Personnel at ICUT Foundation
| Name | Title | Compensation | Date of data |
|---|
| Steven Johnson | Chief Executive Officer | $250,360 | 2023-09-30 |
| Lois Hollis | Senior Director | $108,505 | 2023-09-30 |
| Elizabeth Puthoff | President | $177,511 | 2024-08-13 |
| Debbie Cottrell | Treasurer | $0 | 2023-09-30 |
| Phil Schubert | Past Chair | $0 | 2023-09-30 |
| ...and 13 more key personnel |
Financials for ICUT Foundation
| Revenues | FYE 09/2023 | FYE 09/2022 | % Change |
|---|
| Total grants, contributions, etc. | $213,980 | $1,087,953 | -80.3% |
| Program services | $1,474,408 | $0 | 999% |
| Investment income and dividends | $68,867 | $681 | 10012.6% |
| Tax-exempt bond proceeds | $0 | $0 | - |
| Royalty revenue | $49,937 | $0 | 999% |
| Net rental income | $0 | $0 | - |
| Net gain from sale of non-inventory assets | $-2,927 | $0 | -999% |
| Net income from fundraising events | $0 | $0 | - |
| Net income from gaming activities | $0 | $0 | - |
| Net income from sales of inventory | $0 | $0 | - |
| Miscellaneous revenues | $4,959 | $0 | 999% |
| Total revenues | $1,809,224 | $1,088,634 | 66.2% |
Organizations like ICUT Foundation
| Organization | Type | Location | Revenue |
|---|
| Council of Independent Nebraska Colleges Foundation | 501(c)(3) | Bellevue, NE | $762,466 |
| Georgia Piedmont Technical College Foundation | 501(c)(3) | Clarkston, GA | $662,153 |
| Elkhorn Public Schools Foundation | 501(c)(3) | Elkhorn, NE | $6,606,032 |
| The Jeannette Rankin Foundation | 501(c)(3) | Athens, GA | $1,608,572 |
| Independent Colleges and Universities of New Jersey A NJ Nonprofit Corporation | 501(c)(3) | Trenton, NJ | $1,978,046 |
| The Engineering Center Education Trust | 501(c)(3) | Boston, MA | $1,469,771 |
| George Junior Republic | 501(c)(3) | Grove City, PA | $2,874,552 |
| Madison Public Schools Foundation | 501(c)(3) | Madison, WI | $1,716,885 |
| Spencer Educational Foundation | 501(c)(3) | New York, NY | $2,712,012 |
| Petaluma Educational Foundation | 501(c)(3) | Petaluma, CA | $1,208,172 |
Data update history
September 21, 2024
Updated personnel
Identified 3 new personnel
September 26, 2023
Posted financials
Added Form 990 for fiscal year 2022
September 26, 2023
Updated personnel
Identified 3 new personnel
August 15, 2023
Posted financials
Added Form 990 for fiscal year 2021
Nonprofit Types
Grantmaking organizationsSchoolsCharities
Issues
Education
Characteristics
MembershipsPolitical advocacyLobbyingPartially liquidatedState / local levelEndowed supportProvides scholarshipsTax deductible donationsNo full-time employeesAccepts online donations
General information
- Address
- 1303 San Antonio St Ste 820
- Austin, TX 78701
- Metro area
- Austin-Round Rock-Georgetown, TX
- County
- Travis County, TX
- Website URL
- icut.org/page/foundationoverviewÂ
- Phone
- (512) 472-9522
IRS details
- EIN
- 75-1540769
- Fiscal year end
- September
- Taxreturn type
- Form 990
- Year formed
- 1976
- Eligible to receive tax-deductible contributions (Pub 78)
- Yes
Categorization
- NTEE code, primary
- B82: Scholarships, Student Financial Aid Services
- NAICS code, primary
- 813211: Grantmaking Foundations
- Parent/child status
- Independent
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