Icut Foundation
- Assets
- $222.3k
- Revenue
- $234.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Austin, TX
- Founding
- 12/1981
- Data as of
- 09/2021
- EIN
- 75-1540769
Organization Overview
Icut Foundation is located in Austin, TX. The organization was established in 1981. According to its NTEE Classification (B05) the organization is classified as: Research Institutes & Public Policy Analysis, 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. Icut 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 09/2021, Icut Foundation generated $234.6k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 20.2% each year . All expenses for the organization totaled $223.8k during the year ending 09/2021. While expenses have increased by 16.2% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
COLLABORATE WITH INSTITUTIONAL MEMBERS, BUSINESSES AND RELEVANT STAKEHOLDERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE 40 INDEPENDENT COLLEGES AND UNIVERSITIES IN TEXAS, WHO ARE SERVED BY THE FOUNDATION, WERE GIVEN THE OPPORTUNITY TO PARTICIPATE IN SCHOLARSHIP PROGRAMS. IN FISCAL YEAR 2021, THE ICUT FOUNDATION AWARDED 74 SCHOLARSHIPS TOTALING $182,300.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Ludwick Chair-Elect | OfficerTrustee | 0.5 | $0 |
Frederick Slabach Chair | OfficerTrustee | 0.5 | $0 |
Blair Blackburn Secretary | OfficerTrustee | 0.5 | $0 |
Colette Burnette Treasurer | OfficerTrustee | 0.5 | $0 |
Steven Johnson Chief Executive Officer | Officer | 1.5 | $0 |
Sandra Harper Past Chair | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $38,000 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $196,600 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $234,600 |
| Total Program Service Revenue | $0 |
| Investment income | $12 |
| 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 | $234,612 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $193,600 |
| 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 | $0 |
| 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 | $6,231 |
| 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 | $202 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $23,750 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $30 |
| Total functional expenses | $223,813 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $109,365 |
| Savings and temporary cash investments | $112,940 |
| 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 | $0 |
| 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 | $222,305 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $150,897 |
| 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 | $0 |
| Total liabilities | $150,897 |
| Net assets without donor restrictions | $71,408 |
| Net assets with donor restrictions | $0 |
| 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 | $222,305 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Icut Foundation has recieved totaling $114,000.
| Awarding Organization | Amount |
|---|---|
Council Of Independent Colleges Washington, DC PURPOSE: UPS SCHOLARSHIPS | $114,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Commit2dallas Dallas, TX | $16,002,925 | $24,480,125 |
Democratic Schools Research Inc Bryan, TX | $2,903,255 | $4,365,603 |
Research Bridge Partners Inc Austin, TX | $2,472,916 | $254,847 |
Public Laboratory For Open Technology And Science Inc New Orleans, LA | $742,404 | $218,908 |
Docent Research Group Austin, TX | $292,611 | $863,978 |
Disinformation Index Foundation San Antonio, TX | $63,059 | $367,228 |
Measure Austin Austin, TX | $105,563 | $325,374 |
Arkansans For Education Reform Foundation Little Rock, AR | $813,823 | $448,594 |
Arts & Design Alumni Research Austin, TX | $671,020 | $702,926 |
Gulf Offshore Research Institute Mandeville, LA | $98,659 | $236,708 |
Research Educational Foundation Inc Dallas, TX | $3,829,798 | $586,346 |
Libertarian Institute Round Rock, TX | $253,702 | $364,609 |