Ohio Foundation Of Independent Colleges Inc

Organization Overview

Ohio Foundation Of Independent Colleges Inc is located in Columbus, OH. The organization was established in 1952. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. As of 06/2021, Ohio Foundation Of Independent Colleges Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ohio Foundation Of Independent Colleges Inc 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 06/2021, Ohio Foundation Of Independent Colleges Inc generated $4.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $4.6m during the year ending 06/2021. While expenses have increased by 0.3% 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.

Since 2015, Ohio Foundation Of Independent Colleges Inc has awarded 433 individual grants totaling $16,663,557. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO SOLICIT CONTRIBUTIONS FROM THE CORPORATE COMMUNITY AND PRIVATE FOUNDATIONS ON BEHALF OF 33 MEMBER-COLLEGE/UNIVERSITIES THAT SERVE NEARLY 80,000 STUDENTS. MEMBERS ARE NONPROFIT, PRIVATELY CONTROLLED, 4-YEAR COLLEGES/UNIVERSITIES CHARTERED BY THE STATE OF OHIO, ARE FULLY ACCREDITED BY HIGHER LEARNING COMMISSION, AND HAVE A CURRICULAR PROGRAM IN TRADITIONAL LIBERAL ARTS. CONTRIBUTIONS TO OFIC ARE DISTRIBUTED TO COLLEGES/UNIVERSITIES ANNUALLY AND PROVIDE TUITION ASSISTANCE AND OPERATIONAL SUPPORT. OFIC PROVIDES ITS DONORS WITH AN EFFICIENT MEANS TO SUPPORT INDEPENDENT HIGHER EDUCATION. OFIC ALSO PROVIDES PROGRAMS TO PROMOTE CORPORATE/INDEPENDENT HIGHER EDUCATION PARTNERSHIPS AND PROVIDES LEADERSHIP IN DEVELOPING EFFORTS THAT RESULT IN REDUCED COSTS AND IMPROVED BUSINESS PRACTICES FOR ITS MEMBERS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

ADMINISTER AND CARRY OUT SUCCESSFUL SCHOLARSHIP PROGRAMS-THE OHIO SCHOLARS PROGRAM AND SCHOLARSHIP MANAGEMENT RESOURCES-THAT PROVIDE CASH DISTRIBUTIONS TO COLLEGES AND UNIVERSITIES FOR STUDENT SCHOLARSHIPS AND AWARDS. THESE FUNDS NOT ONLY PROVIDE FINANCIAL ASSISTANCE FOR STUDENTS, BUT ALSO OFFER OHIO'S BUSINESS AND INDUSTRY WITH AN OPPORTUNITY TO CULTIVATE FUTURE LEADERS AND EMPLOYEES. THESE DISTRIBUTIONS INCLUDE FINANCIAL AID AND SPECIAL PROGRAM GRANTS FOR COLLEGE CAMPUS ACTIVITIES. AS AN EXTENSION OF THIS PROGRAM, OFIC CONDUCTS ANNUAL JOB FAIRS-THE CAREERFEST AND THE ACCOUNTING CAREERFEST-PROGRAMS THAT ALLOW STUDENTS TO MEET AND INTERVIEW WITH OFIC DONOR COMPANIES AND OTHER INTERESTED PARTICIPANTS.


ESTABLISH A STRONG VOLUNTEER NETWORK OF BUSINESS/INDUSTRY AND COLLEGE/UNIVERSITY PROFESSIONALS TO CONDUCT AN ANNUAL SOLICITATION PROGRAM THAT PROVIDES UNRESTRICTED DISTRIBUTIONS TO OHIO INDEPENDENT COLLEGES AND UNIVERSITIES. UNRESTRICTED CONTRIBUTIONS TO OFIC ARE DISTRIBUTED IN ENTIRETY TO THE 33 OFIC-MEMBER COLLEGES AND UNIVERSITIES IN ACCORDANCE WITH A DISTRIBUTION FORMULA THAT REQUIRES 60% OF THE TOTAL TO BE DIVIDED EQUALLY AND 40% OF THE TOTAL TO BE BASED UPON EACH MEMBER'S FULL-TIME AND FULL-TIME EQUIVALENT UNDERGRADUATE ENROLLMENTS. THIS IS AN IMPORTANT SOURCE OF FINANCIAL SUPPORT FOR OUR MEMBERS, ALLOWING THEM TO APPLY IT TO AREAS OF GREATEST NEED AND ENABLING THEM TO RELY ON SOURCES OTHER THAN JUST TUITION TO SUPPORT COSTS ASSOCIATED WITH PROVIDING AN ACCESSIBLE, QUALITY EDUCATION.


COORDINATE AND FACILITATE COLLABORATIVE PROGRAMS DESIGNED TO HELP OHIO'S INDEPENDENT COLLEGES AND UNIVERSITIES CONSERVE COSTS AND IMPROVE OPERATING EFFICIENCIES, AS WELL AS COORDINATE AND IMPLEMENT PROGRAMS DESIGNED TO BRING EDUCATION AND BUSINESS TOGETHER FOR SPECIFIC PURPOSES SUCH AS MINORITY RECRUITMENT/RETENTION, STUDENT ADVANCEMENT/ACCESS TO HIGHER EDUCATION.


CONDUCT CAREER FAIR PROGRAMS THAT CONNECT STUDENTS TO CORPORATIONS FOR NETWORKING AND JOB OPPORTUNITIES.


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Board, Officers & Key Employees

Name (title)Compensation
Bill Spiker
President
$189,981
Jayne Taylor
VP Finance & Administration
$128,639
James Fahey
Treasurer
$0
James M Gasior
Chair
$0
Carlos Campo
Vice Chair Elect College
$0
Randy Marker
Vice Chair (corporate)
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $28,689
All other contributions, gifts, grants, and similar amounts not included above$2,932,883
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$2,961,572
Total Program Service Revenue$1,160,937
Investment income $66,553
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $169,453
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $4,357,939

Grants Awarded

Over the last fiscal year, Ohio Foundation Of Independent Colleges Inc has awarded $2,713,636 in support to 154 organizations.

Grant RecipientAmount

UNIVERSITY OF SOUTHERN INDIANA

Org PageRecipient Profile

Evansville, IN

PURPOSE: SCHOLARSHIPS

$105,400

CEDARVILLE UNIVERSITY

Org PageRecipient Profile

Cedarville, OH

PURPOSE: SCHOLARSHIPS & UNRESTRICTED

$89,121

BALDWIN-WALLACE UNIVERSITY

Org PageRecipient Profile

Berea, OH

PURPOSE: SCHOLARSHIPS & UNRESTRICTED

$77,372

Oberlin, OH

PURPOSE: SCHOLARSHIPS & UNRESTRICTED

$74,232

JOHN CARROLL UNIVERSITY

Org PageRecipient Profile

University Heights, OH

PURPOSE: SCHOLARSHIPS & UNRESTRICTED

$73,386

UNIVERSITY OF FINDLAY

Org PageRecipient Profile

Findlay, OH

PURPOSE: SCHOLARSHIPS & UNRESTRICTED

$72,641
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Ohio Foundation Of Independent Colleges Inc has recieved totaling $1,000.

Awarding OrganizationAmount
Dupps Company Charitable Foundation

Germantown, OH

PURPOSE: GENERAL SUPPORT

$1,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$6,702,903
Earnings$1,707,619
Admin Expense$15,448
Net Contributions$15,400
Grants$303,172
Ending Balance$8,107,302

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