Independent Colleges Of Indiana Inc
- Assets
- $93.8m
- Revenue
- $20.2m
- Investments
- $0.0
- Employees
- 14
- Location
- Indianapolis, IN
- Founding
- 03/1975
- Data as of
- 06/2021
- EIN
- 31-0901001
Organization Overview
Independent Colleges Of Indiana Inc is located in Indianapolis, IN. The organization was established in 1975. According to its NTEE Classification (B03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Education and related organizations. As of 06/2021, Independent Colleges Of Indiana Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Independent Colleges Of Indiana 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 06/2021, Independent Colleges Of Indiana Inc generated $20.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (3.6%) each year. All expenses for the organization totaled $21.6m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Independent Colleges Of Indiana Inc has awarded 584 individual grants totaling $7,649,434. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
FURTHER INDEPENDENT HIGHER EDUCATION. ICI OPERATES AS THE COLLECTIVE VOICE FOR EXCELLENCE AND CHOICE IN HIGH EDUCATION FOR ALL STUDENTS. SEE CONTINUATION ON ATTACHMENT 1.
Describe the Organization's Program Activity:
TO ADVANCE THE CAUSE OF AND SUPPORT INDEPENDENT HIGHER EDUCATION IN INDIANA FOR 30 MEMBER COLLEGES THROUGH FUNDRAISING, MEETINGS TO DISCUSS COMMON ISSUES, CARRYING ON BASIC RESEARCH, AND OTHER INCIDENTAL ACTIVITIES.
THE LILLY ENDOWMENT COMMUNITY SCHOLARSHIP PROGRAM (LECSP) HELPS TO RAISE THE LEVEL OF EDUCATIONAL ATTAINMENT IN INDIANA AND TO LEVERAGE FURTHER THE ABILITY OF INDIANA'S COMMUNITY FOUNDATIONS TO ENHANCE THE QUALITY OF LIFE OF THE STATE'S RESIDENTS BY AWARDING FULL-TUITION SCHOLARSHIPS TO STUDENTS FROM EACH COUNTY IN INDIANA. THESE SCHOLARSHIPS ARE AWARDED THROUGH AND ADMINISTERED BY THE NETWORK OF COMMUNITY FOUNDATIONS THROUGHOUT THE STATE. OVER 30 COLLEGES AND UNIVERSITIES IN INDIANA WERE SERVED.
INDIANA ACADEMY PROGRAM FURTHERS THE DEVELOPMENT OF BUSINESS, PUBLIC SERVICE, HIGHER EDUCATION, THE ARTS AND SCIENCES, LITERATURE, AND THE GENERAL CULTURE OF THE STATE THROUGH RECOGNITION OF INDIVIDUAL LEADERSHIP, ACHIEVEMENT, AND PHILANTHROPY DESIGNED TO PROMOTE THESE ENDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr David Wantz President/secretary | OfficerTrustee | 40 | $246,848 |
Dr Jodie Ferise Vice President & Gen Counsel | Officer | 40 | $150,000 |
Ms Laura Bridges VP & Chief Operating Officer | Officer | 40 | $112,587 |
Dr Lake Lambert Vice Chair | OfficerTrustee | 1 | $0 |
Dr Dottie King Chair | OfficerTrustee | 1 | $0 |
Dr Amy Mccormack Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,228,890 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,066,427 |
| All other contributions, gifts, grants, and similar amounts not included above | $16,773,822 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $19,069,139 |
| Total Program Service Revenue | $103,544 |
| Investment income | $976,516 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $47,594 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $20,196,793 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $929,500 |
| Grants and other assistance to domestic individuals. | $17,881,651 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $353,876 |
| Compensation of current officers, directors, key employees. | $359,435 |
| Compensation of current officers, directors, key employees. | $137,419 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $913,808 |
| Pension plan accruals and contributions | $79,859 |
| Other employee benefits | $123,826 |
| Payroll taxes | $65,710 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $59,285 |
| Fees for services: Accounting | $43,000 |
| Fees for services: Lobbying | $60,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $70,878 |
| Fees for services: Other | $27,097 |
| Advertising and promotion | $31,161 |
| Office expenses | $61,942 |
| Information technology | $57,296 |
| Royalties | $0 |
| Occupancy | $121,057 |
| Travel | $29,969 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $69,205 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $25,168 |
| Insurance | $24,375 |
| All other expenses | $0 |
| Total functional expenses | $21,571,964 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $125,721 |
| Savings and temporary cash investments | $12,366,671 |
| Pledges and grants receivable | $0 |
| 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 | $132,800 |
| Net Land, buildings, and equipment | $115,145 |
| Investments—publicly traded securities | $81,075,403 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $93,815,740 |
| Accounts payable and accrued expenses | $404,719 |
| Grants payable | $0 |
| Deferred revenue | $259,405 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $664,124 |
| Net assets without donor restrictions | $4,320,358 |
| Net assets with donor restrictions | $88,831,258 |
| 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 | $93,815,740 |
Grants Awarded
Over the last fiscal year, Independent Colleges Of Indiana Inc has awarded $929,500 in support to 73 organizations.
| Grant Recipient | Amount |
|---|---|
Indianapolis, IN PURPOSE: GENERAL SUPPORT | $84,500 |
Evansville, IN PURPOSE: GENERAL SUPPORT | $78,000 |
Merrillville, IN PURPOSE: GENERAL SUPPORT | $39,000 |
Fort Wayne, IN PURPOSE: GENERAL SUPPORT | $32,500 |
South Bend, IN PURPOSE: GENERAL SUPPORT | $26,000 |
New Albany, IN PURPOSE: GENERAL SUPPORT | $26,000 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that Independent Colleges Of Indiana Inc has recieved totaling $32,462,944.
| Awarding Organization | Amount |
|---|---|
Lilly Endowment Inc Indianapolis, IN PURPOSE: COMMUNITY SCHOLARSHIP PROGRAM 2023 | $15,887,905 |
Lilly Endowment Inc Indianapolis, IN PURPOSE: COMMUNITY SCHOLARSHIP PROGRAM 2022 | $14,706,830 |
Lilly Endowment Inc Indianapolis, IN PURPOSE: COMMUNITY SCHOLARSHIP PROGRAM ADMIN | $1,682,459 |
John W Anderson Foundation Valparaiso, IN PURPOSE: SCHOLARSHIP | $125,000 |
Nicholas H Noyes Jr Memorial Foundation Inc Carmel, IN PURPOSE: ANNUAL SCHOLARSHIP FUND SUPPORT | $50,000 |
Oliver Memorial Trust Foundation Las Vegas, NV PURPOSE: GENERAL OPERATING | $5,000 |
Endowment Analysis
| Beg. Balance | $1,020,108 |
| Earnings | $310,054 |
| Admin Expense | $2 |
| Ending Balance | $1,330,160 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Library Association Chicago, IL | $94,861,095 | $46,373,776 |
Independent Colleges Of Indiana Inc Indianapolis, IN | $93,815,740 | $20,196,793 |
Association Of Diabetes Care & Education Specialists Chicago, IL | $25,105,148 | $12,812,259 |
Illinois Association Of School Boards Springfield, IL | $19,198,603 | $11,091,944 |
Missouri National Education Association Jefferson City, MO | $11,252,448 | $8,353,095 |
American College Of Foot And Ankle Surgeons Chicago, IL | $15,138,521 | $7,600,538 |
National Council Of Teachers Of English Champaign, IL | $46,879,367 | $7,632,067 |
Charter School Of The Dunes Inc Gary, IN | $14,167,237 | $8,545,161 |
Wisconsin Education Association Council Madison, WI | $12,509,404 | $6,898,296 |
Indiana Association For The Education Of Children Inc Indianapolis, IN | $1,546,703 | $6,038,887 |
American College Of Osteopathic Family Physicians Inc Arlington Heights, IL | $12,356,317 | $6,528,477 |
Association Of School Business Officials International Dekalb, IL | $5,714,623 | $4,805,268 |