Icut Foundation

Nonprofit profile at a glance

EIN
751540769
IRS 990 coverage
2019–2024
Forms available
Form 990 2024, Form 990-N 2009
Location
Austin, TX, USA
Phone
5124729522
Rating
83
Verdict
STRONG
Rating confidence
Standard

Reported finances

Revenue
$2,019,752
Expenses
$1,870,457
Assets
$1,807,144
Liabilities
$355,796

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

14 people listed

Executive titles in this filing

  • ELIZABETH PUTHOFF (PRESIDENT)

Highest reported compensation

  • ELIZABETH PUTHOFF (PRESIDENT): $332,644 total reported compensation
  • LOIS HOLLIS (SENIOR DIRECTOR): $125,060 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The foundation supports Texas' independent nonprofit colleges and universities by strengthening member institutions by educating university staff through seminars and training opportunities, educating stakeholders about strategic issues important to private higher education in Texas, (continued on schedule o)

What it reported doing in 2024

Education of members - the icut foundation membership consists of 40 accredited independent institutions of higher education in Texas. Icut foundation serves these members by educating them on issues affecting their institutions or their students. This includes innovative educational tools, new laws, rules, regulations and other topics of interest. We communicate this information via webinars, in-person trainings and meetings, newsletters and emails. In addition, we collect and analyze data from various sources to provide relevant information to our members.

Operating model

Revenue model
Other-operating. 83% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 83% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 92
  • Accountability: 100
  • Sustainability: 44
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 71.2%; rating input score 71
  • Program expense ratio: 75.8%; rating input score 76
  • Fundraising efficiency: $15.52 raised per $1 spent on fundraising; rating input score 52; 52nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 7.4%; rating input score 57; 57th percentile among comparable filings
  • Total-asset coverage ratio: 0.97; rating input score 36; 36th percentile among comparable filings
  • Liabilities to assets ratio: 0.2; rating input score 44; 44th percentile among comparable filings
  • Officer compensation ratio: 24.5%; rating input score 8; 8th percentile among comparable filings

Growth

  • Program expense growth: 37.8% per year; rating input score 100; 95th percentile among comparable filings
  • Revenue growth: 34.6% per year; rating input score 100; 95th percentile among comparable filings
  • Asset growth: 33.8% per year; rating input score 100; 95th percentile among comparable filings

Details

  • Where the money goes: 71.2% of revenue deployed · 75.8% of spending went to programs
  • Governance: 11 of 11 board members independent · 8 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $1.4M in reported program spending
  • Leadership: top reported pay $333K · 14 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 35 of 35 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Fundraising efficiency scored 52/100.
  • Review — Sustainability: Operating margin scored 57/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 36/100.
  • High — Sustainability: Officer compensation ratio scored 8/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 44/100.