Independence Community College Foundation

Nonprofit profile at a glance

EIN
480759236
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Independence, KS, USA
Phone
8008426063
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community or Junior Colleges

Reported finances

Revenue
$632,018
Expenses
$336,950
Assets
$5,495,551
Liabilities
$593,150

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

Leadership & pay

14 people listed

Executive titles in this filing

  • AMBER GREGORY (PRESIDENT)

People named in this filing

  • STEVE CHAPMAN (DIRECTOR)
  • OMAR ELSHABASSY (DIRECTOR)
  • JEFFREY GETTLER (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Independence community college foundation's primary exempt purpose is to provide support to the independence community college and its students, with grants and scholarships.

What it reported doing in 2024

The funds of the foudnation are used to benefit indpendence community college and its students. The students in need of financial asssistance, while attending icc, receive grants. Scholarship awards are based on academic achievements and financial need. Awards range from 100.00 to 600.00 per semester.

Operating model

Revenue model
Donor-supported. 79% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 68% for direct work, and 32% for grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 42
  • Transparency & Controls: 94
  • Accountability: 70
  • Sustainability: 85
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 40%; rating input score 40
  • Program expense ratio: 43.6%; rating input score 44
  • Fundraising efficiency: $13.32 raised per $1 spent on fundraising; rating input score 47; 47th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th 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: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 46.7%; rating input score 91; 91st percentile among comparable filings
  • Total-asset coverage ratio: 16.31; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0.11; rating input score 41; 41st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 0.9% per year; rating input score 100; 21st percentile among comparable filings
  • Revenue growth: 2.2% per year; rating input score 100; 26th percentile among comparable filings
  • Asset growth: 1.6% per year; rating input score 100; 23rd percentile among comparable filings

Details

  • Where the money goes: 40% of revenue deployed · 43.6% of spending went to programs
  • Governance: 7 of 7 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $147K in reported program spending
  • Leadership: top reported pay $0 · 14 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 40/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 44/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 47/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 41/100.