Arkansas Independent Colleges & Universities
- Assets
- $337.9k
- Revenue
- $501.6k
- Investments
- $0.0
- Employees
- 2
- Location
- Little Rock, AR
- Founding
- 12/1955
- Data as of
- 06/2023
- EIN
- 71-0266514
Organization Overview
Arkansas Independent Colleges & Universities is located in Little Rock, AR. The organization was established in 1955. According to its NTEE Classification (B40) the organization is classified as: Higher Education, under the broad grouping of Education and related organizations. As of 06/2023, Arkansas Independent Colleges & Universities employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Arkansas Independent Colleges & Universities 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, Arkansas Independent Colleges & Universities generated $501.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.4%) each year. All expenses for the organization totaled $471.7k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (4.2%) per year over the past 8 years. 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
SUPPORT OF PRIVATE COLLEGES LOCATED IN ARKANSAS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTION OF HIGHER EDUCATION; COLLECTION & DISTRIBUTION OF DONATIONS TO SUPPORT 11 NON-TAX SUPPORTED MEMBER COLLEGES. TOTAL ENROLLMENT OF FULL- TIME EQUIVALENT RESIDENT STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrew Goodman President | Officer | 40 | $130,417 |
Ellis Arnold Trustee | Trustee | $0 | |
Rich Dunsworth Trustee | Trustee | $0 | |
Richard Johnson Trustee | Trustee | $0 | |
Terry Kimbrow Trustee | Trustee | $0 | |
Stan Norman Trustee | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $304,900 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $186,053 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $490,953 |
| Total Program Service Revenue | $0 |
| Investment income | $10,655 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $501,608 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $185,102 |
| 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 | $186,128 |
| Pension plan accruals and contributions | $11,168 |
| Other employee benefits | $26,857 |
| Payroll taxes | $14,239 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,349 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $254 |
| Information technology | $260 |
| Royalties | $0 |
| Occupancy | $7,129 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,306 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,055 |
| All other expenses | $3,006 |
| Total functional expenses | $471,665 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1 |
| Savings and temporary cash investments | $198,296 |
| Pledges and grants receivable | $136,584 |
| 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 | $3,000 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $337,881 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $25,605 |
| Total liabilities | $25,605 |
| Net assets without donor restrictions | $179,106 |
| Net assets with donor restrictions | $133,170 |
| 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 | $337,881 |