2026-08-10T13:38:30+00:00 2025-09-30 440160260 FORVIS MAZARS LLP 8200 W INTERSTATE 10 SUITE 900 SAN ANTONIO TX 782303806 990 2024-10-01 751540769 ICUT FOUNDATION ICUT 5124729522 1303 SAN ANTONIO ST STE 820 AUSTIN TX 78701 ELIZABETH PUTHOFF PRESIDENT 2026-08-10 true ROBERT ULLOA P01953132 2103419400 2026-08-10 2024 2025-03-06 01:10:19Z CHARLIE MCCORMICK 1303 SAN ANTONIO ST STE 820 AUSTIN TX 78701 2019752 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 264895 270000 1422573 1458502 62256 64986 146124 226264 1895848 2019752 233000 243000 0 807365 951366 0 17399 586676 676091 1627041 1870457 268807 149295 1711790 1807144 420844 355796 1290946 1451348 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 728862 1520183 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. 306011 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. 243000 243000 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 2025, THE ICUT FOUNDATION AWARDED 78 SCHOLARSHIPS TOTALING $243,000. 140241 0 0 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. 140241 1418114 true true false true false false false false false false true false false false 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 false false false true X 2 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 false true true true true true true true false false false X ELIZABETH PUTHOFF 5124729522 1303 SAN ANTONIO ST STE 820 AUSTIN TX 78701 CHARLIE MCCORMICK CHAIR 4.0 0.0 X X 0 0 0 DEBBIE COTTRELL CHAIR-ELECT 4.0 0.0 X X 0 0 0 MELVA WALLACE SECRETARY 4.0 0.0 X X 0 0 0 PHIL SCHUBERT TREASURER 4.0 0.0 X X 0 0 0 RICHARD LUDWICK PAST CHAIR 4.0 0.0 X X 0 0 0 CORY HINES DIRECTOR 4.0 0.0 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 JONATHAN SANFORD 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 286306 0 46338 LOIS HOLLIS SENIOR DIRECTOR 40.0 0.0 X 95289 0 29771 381595 0 76109 1 false true false 0 270000 270000 MEMBERSHIP DUES 900099 1368144 1368144 MEETING FEES 900099 65152 65152 PROGRAM SPONSORSHIP 900099 25206 25206 0 0 0 0 1458502 64986 64986 70529 70529 0 0 0 0 REFUNDS 900099 154142 60088 94054 REIMBURSEMENTS 900099 1593 1593 0 0 0 0 155735 2019752 1520183 0 229569 243000 243000 332644 222554 106959 3131 531874 355848 171019 5007 25761 17235 8283 243 20134 13470 6474 190 40953 27399 13168 386 7319 2994 4325 25200 10308 14892 67181 67181 16731 6844 9887 0 41015 30876 9736 403 25879 19409 6211 259 187698 140773 45047 1878 43126 36691 5430 1005 197377 167925 24854 4598 5826 4369 1457 6206 4655 1489 62 LEGISLATIVE 28732 28732 MISCELLANEOUS 23801 17851 5713 237 0 0 0 0 1870457 1418114 434944 17399 801245 689621 108674 325032 17927 28911 0 0 0 0 27654 11461 56541 46605 9365 9936 591004 712495 0 0 155921 29688 1711790 1807144 34954 85338 234827 243327 0 0 151063 27131 420844 355796 X 1290946 1451348 1290946 1451348 1711790 1807144 149295 11107 0 X false true true false X 234600 234975 213980 264895 270000 1218450 0 0 234600 234975 213980 264895 270000 1218450 408899 809551 12 681 206977 203837 229569 641076 0 0 0 0 0 0 0 1859526 4426666 0.43535 0.50116 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 67181 67181 1350933 1418114 216811 0 54203 0 0 198104 216811 414915 622373 8091 67181 75272 49526 54203 103729 155593 0 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 ($39,000 + $4,119 EXPENSES), PLUS OVERHEAD FOR ADVOCACY ($12,249) PLUS THE PRESIDENT OF THE ICUT FOUNDATION WHO MEETS WITH LEGISLATORS OR THEIR STAFF ABOUT BILLS THAT AFFECT OUR MEMBERS OR STUDENTS ($75 HOURS @ $157.50/HR=$11,813). 11076 11076 0 28083 18147 9936 17382 17382 0 9936 FEDERAL INCOME TAXES OPERATING LEASE LIABILITY 19407 SECURITY DEPOSIT 3890 RAMP CARD 3834 27131 X 2030859 11107 0 11107 2019752 0 0 2019752 1870457 0 0 1870457 0 0 1870457 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 40 110000 UPS SCHOLARSHIP 38 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. GRANTS TYPICALLY GO TO FIRST GENERATION, UNDER SERVED, MINORITY STUDENTS. X true true X X X X false false false false false false false false false ELIZABETH PUTHOFF PRESIDENT 278806 0 0 0 7500 0 35762 0 10576 0 332644 0 0 0 SCHEDULE J, PART I, LINE 1A HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES ICUT FOUNDATION PAID DUES FOR THE PRESIDENT TO BELONG TO THE AUSTIN CLUB, WHICH ARE DEEMED NECESSARY TO PERFORM JOB. THERE IS A RESTAURANT AND MEETING SPACE WHERE THE PRESIDENT CAN HOLD LUNCH MEETINGS. THE PRESIDENT DID NOT RECEIVE TAXABLE COMPENSATION AS THE EXPENSE WAS PAID FOR ON THEIR BEHALF. 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 $ 140,241 INCLUDING GRANTS OF $ 0)(REVENUE $ 0) 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. 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.