Culver Educational Foundation
- Assets
- $893.7m
- Revenue
- $284.2m
- Investments
- $529.6m
- Employees
- 563
- Location
- Culver, IN
- Founding
- 07/1935
- Data as of
- 06/2021
- EIN
- 35-0868071
Organization Overview
Culver Educational Foundation is located in Culver, IN. The organization was established in 1935. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 06/2021, Culver Educational Foundation employed 563 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Culver Educational Foundation 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, Culver Educational Foundation generated $284.2m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 18.8% each year . All expenses for the organization totaled $101.4m during the year ending 06/2021. While expenses have increased by 4.9% per year over the past 6 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO EDUCATE ITS STUDENTS FOR LEADERSHIP AND RESPONSIBLE CITIZENSHIP IN SOCIETY BY NURTURING THE WHOLE INDIVIDUAL- MIND, SPIRIT AND BODY - THROUGH INTEGRATED PROGRAMS THAT EMPHASIZE THE CULTIVATION OF CHARACTER.
Describe the Organization's Program Activity:
CULVER PROMISES TOP ACADEMICS, COMPETITIVE ATHLETICS AND EDUCATION YOU NEED TO BE A LEADER AND A RESPONSIBLE GLOBAL CITIZEN IN HIGH SCHOOL, IN COLLEGE AND BEYOND. CULVER ENCOURAGES YOU TO DEVELOP YOUR INDIVIDUAL INTERESTS AND TALENTS, ALL WHILE HELPING YOU MOVE BEYOND SELF-IMPOSED LIMITATIONS. OUR MISSION TO DEVELOP AND NURTURE THE WHOLE PERSON - MIND, SPIRIT AND BODY - WITH OUR UNIQUE FOCUS ON LEADERSHIP TRAINING MEANS YOU RECEIVE THE TOTAL EDUCATIONAL EXPERIENCE THAT HAS SET CULVER ABOVE OTHER SCHOOLS FOR MORE THAN A CENTURY. INSTRUCTION IS FOR GRADES 9-12, RANGING FROM THE ARTS AND MUSIC TO SCIENCE, MATH AND HUMANITIES AS WELL AS UNIQUE PROGRAMS IN LEADERSHIP, WELLNESS AND A SERVANT LEADERSHIP PROJECT REQUIREMENT FOR GRADUATION. INSTRUCTION WAS PROVIDED TO 838 STUDENTS FOR THE YEAR ENDED JUNE 30, 2021.
CULVER ACADEMIES UNDERSTANDS THE FINANCIAL COMMITMENT OF AN INDEPENDENT SCHOOL EDUCATION AND FOCUSES ON MAXIMIZING OUR RESOURCES TO PROVIDE OPPORTUNITIES TO THOSE FAMILIES WHO QUALIFY OR WARRANT ASSISTANCE. CULVER OFFERS NEED BASED FINANCIAL AID ASSISTANCE AS WELL AS NON-NEED BASED AWARDS. NEED BASED AID DEPENDS SOLELY ON A FAMILY'S FINANCIAL PROFILE AND IS INDEPENDENT FROM THE ADMISSIONS PROCESS. SCHOLARSHIPS / MERIT AWARDS ARE BASED ON THE STRENGTH OF THE CANDIDATE AND CAN RANGE FROM SMALL AMOUNTS TO FULL AWARDS.
FOUNDED IN 1902, CULVER SUMMER SCHOOLS AND CAMPS IS A FUN- FILLED, NATURALLY BEAUTIFUL 1,800-ACRE SETTING WHERE OVER 1,300 YOUNG PEOPLE FROM AROUND THE WORLD, AGES 7-17, DEVELOP POSITIVE SELF-ESTEEM THROUGH ACCOMPLISHMENT AND SELF-DISCIPLINE. IT IS A HIGH CHALLENGE-HIGH SUPPORT-HIGH REWARD ENVIRONMENT FOR LEARNING LEADERSHIP SKILLS THAT IMPROVE PERSONAL CONFIDENCE. THE SUMMER SCHOOLS AND CAMPS PROGRAM WAS CANCELED FOR SUMMER 2020 DUE TO THE COVID-19 PANDEMIC. CULVER SUMMER SCHOOLS AND CAMPS LOOKS FORWARD TO CAMP IN SUMMER 2022 AND BEYOND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Trustee | Trustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hagerman Inc General Contractor | 6/29/21 | $14,619,761 |
Flik Hospitality School Dining Contractor | 6/29/21 | $4,695,170 |
Abbott Rapid Ox North America Llc Health Care Supplies | 6/29/21 | $1,756,280 |
Hebard & Hebard Architects Inc Architects | 6/29/21 | $696,099 |
Nepc Investment Manager | 6/29/21 | $601,123 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $197,774,033 |
| Noncash contributions included in lines 1a–1f | $183,054,977 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $197,774,033 |
| Total Program Service Revenue | $45,751,362 |
| Investment income | $7,619,083 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $208,729 |
| Net Gain/Loss on Asset Sales | $31,199,227 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $992,086 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $284,232,929 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $21,949,132 |
| Grants and other assistance to domestic individuals. | $13,881,131 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $583,917 |
| Compensation of current officers, directors, key employees. | $175,175 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $21,862,571 |
| Pension plan accruals and contributions | $1,756,999 |
| Other employee benefits | $9,411,675 |
| Payroll taxes | $1,836,353 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $262,154 |
| Fees for services: Accounting | $135,148 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,343,714 |
| Fees for services: Other | $6,171,702 |
| Advertising and promotion | $99,880 |
| Office expenses | $603,050 |
| Information technology | $868,035 |
| Royalties | $0 |
| Occupancy | $2,328,623 |
| Travel | $115,546 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $83,233 |
| Interest | $1,501,239 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,567,867 |
| Insurance | $752,499 |
| All other expenses | $739,667 |
| Total functional expenses | $101,386,013 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $49,970 |
| Savings and temporary cash investments | $31,910,073 |
| Pledges and grants receivable | $4,176,271 |
| Accounts receivable, net | $493,437 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,886,715 |
| Prepaid expenses and deferred charges | $2,650,420 |
| Net Land, buildings, and equipment | $102,554,255 |
| Investments—publicly traded securities | $211,734,306 |
| Investments—other securities | $529,631,006 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,566,321 |
| Total assets | $893,652,774 |
| Accounts payable and accrued expenses | $5,395,187 |
| Grants payable | $0 |
| Deferred revenue | $19,441,764 |
| Tax-exempt bond liabilities | $38,300,000 |
| 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 | $22,991,201 |
| Total liabilities | $86,128,152 |
| Net assets without donor restrictions | $261,446,563 |
| Net assets with donor restrictions | $546,078,059 |
| 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 | $893,652,774 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Culver Educational Foundation has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
Everett & Doris Bernardo Family Foundation Elgin, IL PURPOSE: COLLEGE EDUCATIONCOLLEGE EDUCATIONCOLLEGE EDUCATION | $15,000 |
Endowment Analysis
| Beg. Balance | $452,520,338 |
| Earnings | $132,500,808 |
| Admin Expense | $3,343,714 |
| Net Contributions | $47,393,639 |
| Other Expense | $41,949,156 |
| Ending Balance | $587,121,915 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Culver Educational Foundation Culver, IN | $893,652,774 | $284,232,929 |
Concept Schools Inc Schaumburg, IL | $73,509,189 | $54,687,645 |
Lake Forest Academy Lake Forest, IL | $113,447,241 | $34,795,522 |
John Burroughs School St Louis, MO | $206,476,145 | $33,752,535 |
Perspectives Charter School Chicago, IL | $57,974,185 | $31,269,423 |
Hope Christian Schools Inc Waukesha, WI | $8,169,327 | $30,403,375 |
Wheaton Academy West Chicago, IL | $41,216,883 | $18,989,425 |
Lexington School Inc Lexington, KY | $82,981,335 | $20,273,926 |
Westminster Christian Academy Association Town Country, MO | $72,930,151 | $20,133,441 |
Barstow School Kansas City, MO | $36,041,263 | $20,616,227 |
St Johns Northwestern Military Academy Inc Delafield, WI | $17,393,633 | $8,781,742 |
Trinity Schools Inc South Bend, IN | $7,029,834 | $13,749,929 |