Ivy Tech Foundation Inc
- Assets
- $149.9m
- Revenue
- $23.0m
- Investments
- $9.5m
- Employees
- 0
- Location
- Indianapolis, IN
- Founding
- 08/1970
- Data as of
- 06/2024
- EIN
- 23-7073977
Organization Overview
Ivy Tech Foundation Inc is located in Indianapolis, IN. The organization was established in 1970. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ivy Tech Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2024, Ivy Tech Foundation Inc generated $23.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $27.2m during the year ending 06/2024. While expenses have increased by 4.7% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Ivy Tech Foundation Inc has awarded 24 individual grants totaling $24,952,092. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO RECEIVE, HOLD, INVEST AND ADMINISTER PROPERTY; AND TO SOLICIT AND RECEIVE CONTRIBUTIONS; AND TO MAKE EXPENDITURES TO OR FOR THE BENEFIT OF IVY TECH COMMUNITY COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SOLICITING, RECEIVING, ADMINISTERING AND DISTRIBUTING DONATIONS FOR FINANCIAL AID FOR STUDENTS ATTENDING IVY TECH COMMUNITY COLLEGE
HELPING FUND OTHER PROGRAM EXPENDITURES FOR IVY TECH COMMUNITY COLLEGE OF INDIANA, INCLUDING FACULTY AND STAFF DEVELOPMENT, EMPLOYEE RECOGNITION, AND COMMUNITY OUTREACH EXPENDITURES.
COLLEGE, FACILITIES AND EQUIPMENT, AND REAL ESTATE MANAGEMENT
PROVIDING SUPPORT FOR SPECIAL, INNOVATIVE PROGRAMS OF IVY TECH COMMUNITY COLLEGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sue Ellspermann President, College | OfficerTrustee | 2 | $0 |
Lauren Salerno Chairperson | OfficerTrustee | 2 | $0 |
Vincent Viveros Vice Chair | OfficerTrustee | 2 | $0 |
Brian Stater Treasurer | OfficerTrustee | 2 | $0 |
Scott Miller Secretary | OfficerTrustee | 2 | $0 |
A H Schumaker II Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $823,407 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $17,062,652 |
| Noncash contributions included in lines 1a–1f | $756,926 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $17,886,059 |
| Total Program Service Revenue | $0 |
| Investment income | $4,063,771 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $19,148 |
| Net Rental Income | $207,525 |
| Net Gain/Loss on Asset Sales | $753,573 |
| Net Income from Fundraising Events | -$328,117 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $23,032,210 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $5,037,944 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $97,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $110,920 |
| Fees for services: Investment Management | $112,859 |
| Fees for services: Other | $665,792 |
| Advertising and promotion | $329,720 |
| Office expenses | $328,251 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $84,580 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $377 |
| Conferences, conventions, and meetings | $0 |
| Interest | $205,650 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $217,523 |
| Insurance | $0 |
| All other expenses | $2,397,137 |
| Total functional expenses | $27,184,523 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $485,338 |
| Savings and temporary cash investments | $3,309,108 |
| Pledges and grants receivable | $23,081,009 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,858,242 |
| Investments—publicly traded securities | $100,217,786 |
| Investments—other securities | $9,492,858 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,442,150 |
| Total assets | $149,886,491 |
| Accounts payable and accrued expenses | $237,897 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $92,754 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $295,263 |
| Total liabilities | $625,914 |
| Net assets without donor restrictions | $28,116,838 |
| Net assets with donor restrictions | $121,143,739 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $149,886,491 |
Grants Awarded
Over the last fiscal year, Ivy Tech Foundation Inc has awarded $3,737,237 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
IVY TECH COMMUNITY COLLEGE OF INDIANA PURPOSE: TO FURTHER THE EDUCATIONAL MISSION OF IVY TECH COMMUNITY COLLEGE OF INDIANA. | $3,712,237 |
VISIT INDY PURPOSE: TO FURTHER THE EDUCATIONAL MISSION OF IVY TECH COMMUNITY COLLEGE OF INDIANA. | $5,000 |
BLOOMINGTON ECONOMIC DEVELOPMENT CORP PURPOSE: TO FURTHER THE EDUCATIONAL MISSION OF IVY TECH COMMUNITY COLLEGE OF INDIANA. | $5,000 |
INDIANA PHILANTHROPY ALLIANCE INC PURPOSE: TO FURTHER THE EDUCATIONAL MISSION OF IVY TECH COMMUNITY COLLEGE OF INDIANA. | $5,000 |
INTERNATIONAL MARKETPLACE COALITION PURPOSE: TO FURTHER THE EDUCATIONAL MISSION OF IVY TECH COMMUNITY COLLEGE OF INDIANA. | $5,000 |
YMCA OF GREATER INDIANAPOLIS PURPOSE: TO FURTHER THE EDUCATIONAL MISSION OF IVY TECH COMMUNITY COLLEGE OF INDIANA. | $5,000 |