Culver Educational Foundation
- Assets
- $971.1m
- Revenue
- $96.4m
- Investments
- $501.9m
- Employees
- 1,066
- Location
- Culver, IN
- Founding
- 07/1935
- Data as of
- 06/2023
- 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 06/2023, Culver Educational Foundation employed 1,066 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 06/2023, Culver Educational Foundation generated $96.4m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.6%) each year. All expenses for the organization totaled $95.9m during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
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:
Part 3 - Line 4a
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.
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 NEARLY 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Vice President | OfficerTrustee | 3 | $0 |
Name Not Listed Vice President | OfficerTrustee | 3 | $0 |
Name Not Listed Secretary/vice President Thru Sept 2022 | OfficerTrustee | 6 | $0 |
Name Not Listed Vice President | OfficerTrustee | 3 | $0 |
Name Not Listed Chairman Emeritus/vice President | OfficerTrustee | 10 | $0 |
Name Not Listed Treasurer/vice President Thru June 2023 | OfficerTrustee | 8 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hagerman Inc General Contractor | 6/29/23 | $12,601,192 |
Flik Hospitality School Dining Contractor | 6/29/23 | $7,889,675 |
Hebard & Hebard Architects Inc Architects | 6/29/23 | $1,213,443 |
A & M Home Services Inc General Contractor | 6/29/23 | $698,555 |
Marathon Health Llc Employee Health Clinic | 6/29/23 | $671,725 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,083,930 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $28,670,794 |
| Noncash contributions included in lines 1a–1f | $1,552,017 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $29,754,724 |
| Total Program Service Revenue | $58,676,355 |
| Investment income | $9,623,571 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $245,732 |
| Net Gain/Loss on Asset Sales | -$5,244,029 |
| Net Income from Fundraising Events | $638,195 |
| Net Income from Gaming Activities | $4,900 |
| Net Income from Sales of Inventory | $1,407,530 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $96,364,611 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,600,000 |
| Grants and other assistance to domestic individuals. | $15,087,350 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $538,000 |
| Compensation of current officers, directors, key employees. | $161,400 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $27,066,355 |
| Pension plan accruals and contributions | $800,000 |
| Other employee benefits | $12,296,186 |
| Payroll taxes | $2,399,164 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $168,338 |
| Fees for services: Accounting | $131,103 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,710,080 |
| Fees for services: Other | $9,417,013 |
| Advertising and promotion | $393,666 |
| Office expenses | $759,521 |
| Information technology | $1,709,780 |
| Royalties | $0 |
| Occupancy | $2,689,648 |
| Travel | $506,539 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $182,143 |
| Interest | $1,743,802 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,674,213 |
| Insurance | $943,734 |
| All other expenses | $1,378,420 |
| Total functional expenses | $95,943,658 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $93,012 |
| Savings and temporary cash investments | $54,547,743 |
| Pledges and grants receivable | $35,935,705 |
| Accounts receivable, net | $228,070 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,747,510 |
| Prepaid expenses and deferred charges | $3,100,442 |
| Net Land, buildings, and equipment | $130,758,997 |
| Investments—publicly traded securities | $228,583,685 |
| Investments—other securities | $501,914,543 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,221,260 |
| Total assets | $971,130,967 |
| Accounts payable and accrued expenses | $6,849,229 |
| Grants payable | $0 |
| Deferred revenue | $24,473,224 |
| 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 | $1,064,596 |
| Other liabilities | $9,156,506 |
| Total liabilities | $79,843,555 |
| Net assets without donor restrictions | $309,960,614 |
| Net assets with donor restrictions | $581,326,798 |
| 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 | $971,130,967 |