Arkansas Tech University Foundation
- Assets
- $63.9m
- Revenue
- $9.6m
- Investments
- $6.0m
- Employees
- 0
- Location
- Russellville, AR
- Founding
- 04/1982
- Data as of
- 06/2024
- EIN
- 71-0561120
Organization Overview
Arkansas Tech University Foundation is located in Russellville, AR. The organization was established in 1982. 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. Arkansas Tech University 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 06/2024, Arkansas Tech University Foundation generated $9.6m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.7% each year . All expenses for the organization totaled $6.3m during the year ending 06/2024. While expenses have increased by 17.1% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION PROVIDES EDUCATIONAL SUPPORT THROUGH THE GRANTING OF SCHOLARSHIP FUNDS TO BE DISTRIBUTED BY ARKANSAS TECH UNIVERSITY BASED ON ACADEMIC DEPARTMENT AND COMMITTEE SELECTIONS. THE FOUNDATION ALSO PROVIDES OTHER INSTITUTIONAL SUPPORT TO ARKANSAS TECH UNIVERSITY FOR THE OPERATION OF ITS EDUCATIONAL PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION PROVIDED A VAST ARRAY OF SUPPORT TO THE UNIVERSITY IN THE FORM OF CONTRIBUTIONS AND GRANTS TO ACADEMIC, ADMINISTRATIVE AND ATHLETIC DEPARTMENTS AS WELL AS PROVIDING SCHOLARSHIP FUNDS FOR STUDENT RECIPIENTS. THE FOUNDATION MADE CONTRIBUTIONS TO THE UNIVERSITY FOR THE PURCHASES OF COMPUTERS AND RELATED EQUIPMENT, FURNISHINGS, GENERAL SUPPLIES AND CONSTRUCTION OF ADDITIONAL FACILITIES AND RENOVATION AND UPGRADE OF EXISTING FACILITIES.
PROVIDED SCHOLARSHIPS TO STUDENTS OF ARKANAS TECH UNIVERSITY AND SUPPORTED ACADEMIC AND ATHLETIC PROGRAMS OF THE UNIVERSITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Phillip Alexander Past Chair | OfficerTrustee | 0.5 | $0 |
Jason Fountain Director | Trustee | 0.5 | $0 |
Denise Clayton Director | Trustee | 0.5 | $0 |
Bob Honeycutt Director | Trustee | 0.5 | $0 |
Wayne Young Past Chairma | Officer | 1 | $0 |
Stephanie Metcalf Director | Trustee | 0.5 | $0 |
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 | $7,855,356 |
| Noncash contributions included in lines 1a–1f | $65,548 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,855,356 |
| Total Program Service Revenue | $0 |
| Investment income | $1,567,764 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $186,591 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,609,711 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,255,724 |
| 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 | $613,616 |
| 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 | $16,030 |
| Fees for services: Lobbying | $60,000 |
| Fees for services: Fundraising | $51,000 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $22,202 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,886 |
| Travel | $76,411 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,569 |
| All other expenses | $394,603 |
| Total functional expenses | $6,272,171 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $368,471 |
| Savings and temporary cash investments | $5,400,455 |
| Pledges and grants receivable | $1,392,165 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,551,263 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $48,125,335 |
| Investments—other securities | $6,020,952 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $63,858,641 |
| Accounts payable and accrued expenses | $289,258 |
| 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 | $8,661,664 |
| Total liabilities | $8,950,922 |
| Net assets without donor restrictions | $6,051,083 |
| Net assets with donor restrictions | $48,856,636 |
| 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 | $63,858,641 |