Council Of Independent Nebraska Colleges Foundation
- Assets
- $4.5m
- Revenue
- $762.5k
- Investments
- $0.0
- Employees
- 5
- Location
- Bellevue, NE
- Founding
- 05/1955
- Data as of
- 12/2022
- EIN
- 47-0399855
Organization Overview
Council Of Independent Nebraska Colleges Foundation is located in Bellevue, NE. The organization was established in 1955. According to its NTEE Classification (T70) the organization is classified as: Federated Giving Programs, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Council Of Independent Nebraska Colleges Foundation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Council Of Independent Nebraska Colleges 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 12/2022, Council Of Independent Nebraska Colleges Foundation generated $762.5k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (3.0%) each year. All expenses for the organization totaled $776.5k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (0.5%) per year over the past 7 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ENHANCE, PROMOTE AND SOLICIT SUPPORT FOR FOUNDATION MEMBERS AND NEBRASKA INDEPENDENT COLLEGES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE FINANCIAL, OPERATING, AND SCHOLARSHIP SUPPORT FOR INDEPENDENT COLLEGES AND UNIVERSITIES IN NEBRASKA.(A) TO ENHANCE AND PROMOTE INDEPENDENT, NOT-FOR-PROFIT HIGHER EDUCATION IN NEBRASKA;(B) TO BE A COLLECTIVE VOICE FOR EXCELLENCE AND CHOICE IN HIGHER EDUCATION FOR ALL STUDENTS;(C) TO CONDUCT PUBLIC POLICY ADVOCACY THAT HELPS FURTHER ACHIEVEMENT OF CORPORATION'S CHARITABLE PURPOSES AND MISSION;(D) TO GATHER AND DISSEMINATE INFORMATION AND RESERACH ABOUT THE PERFORMANCE AND CONTRIBUTIONS OF THE INDEPENDENT, NOT-FOR-PROFIT COLLEGES AND UNIVERSITIES IN THE STATE OF NEBRASKA;(E) TO BE A SOURCE OF SUPPLEMENTAL FINANCIAL SUPPORT FOR STUDENTS OF THE MEMBERS;(F) TO EXPLORE AND ASSIST WITH CONSORTIUM GRANT APPLICATIONS FOR MEMBERS TO ADVANCE THEIR MISSIONS; AND(G) TO EXPLORE AND ASSIST IN DEVELOPING COLLABORATIVE SERVICES, SUCH AS GROUP PURCHASING OR SHARED SERVICES AMONG MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gregory R Hohl Chair | OfficerTrustee | 1.5 | $0 |
Dr Darrin Good Vice Chair | OfficerTrustee | 1.5 | $0 |
Jody Horner Secretary | OfficerTrustee | 1.5 | $0 |
Steven K Ritzman Treasurer | OfficerTrustee | 1.5 | $0 |
Greg Andersen Director | Trustee | 1.5 | $0 |
Bernard Bull Director | Trustee | 1.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $17,475 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $272,643 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $290,118 |
| Total Program Service Revenue | $296,400 |
| Investment income | $79,809 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $94,995 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $762,466 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $447,148 |
| Compensation of current officers, directors, key employees. | $123,708 |
| Compensation of current officers, directors, key employees. | $30,927 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $66,051 |
| Pension plan accruals and contributions | $5,460 |
| Other employee benefits | $25,265 |
| Payroll taxes | $14,511 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $708 |
| Fees for services: Accounting | $8,053 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $21,046 |
| Fees for services: Other | $17,000 |
| Advertising and promotion | $1,978 |
| Office expenses | $5,566 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $14,657 |
| Travel | $2,065 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,494 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,669 |
| All other expenses | $0 |
| Total functional expenses | $776,453 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $162,771 |
| Savings and temporary cash investments | $544,056 |
| Pledges and grants receivable | $15,000 |
| Accounts receivable, net | $5,966 |
| 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 | $4,738 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,814,304 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,546,835 |
| Accounts payable and accrued expenses | $122,187 |
| Grants payable | $0 |
| Deferred revenue | $22,800 |
| 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 | $144,987 |
| Net assets without donor restrictions | $348,212 |
| Net assets with donor restrictions | $4,053,636 |
| 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 | $4,546,835 |