West Virginia Independent Colleges And Universities Inc
- Assets
- $3.2m
- Revenue
- $494.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Charleston, WV
- Founding
- 10/1953
- Data as of
- 12/2021
- EIN
- 55-0465880
Organization Overview
West Virginia Independent Colleges And Universities Inc is located in Charleston, WV. The organization was established in 1953. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. West Virginia Independent Colleges And Universities 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 12/2021, West Virginia Independent Colleges And Universities Inc generated $494.0k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.9%) each year. All expenses for the organization totaled $605.7k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (1.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, West Virginia Independent Colleges And Universities Inc has awarded 56 individual grants totaling $3,402,214. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF WVICU IS "TO CHAMPION INDEPENDENT HIGHER EDUCATION THROUGHOUT THE STATE OF WEST VIRGINIA". THE VISION FURTHER STATES THAT INDEPENDENT HIGHER EDUCATION IN WEST VIRGINIA WILL BE AN ACCESSIBLE, INDISPENSABLE AND HIGHLY VISIBLE COMPONENT OF THE STATE'S EDUCATIONAL, ECONOMIC, AND CULTURAL LIFE. WVICU CURRENTLY SERVES EIGHT NOT-FOR-PROFIT MEMBER INSTITUTIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WVICU REQUESTS CONTRIBUTIONS FROM FOUNDATIONS, CORPORATIONS, AND INDIVIDUALS THAT ARE USED FOR SCHOLARSHIPS GRANTED TO WEST VIRGINIA STUDENTS THAT DEMONSTRATE HIGH ACADEMIC PERFORMANCE AND FINANCIAL NEED AT OUT EIGHT MEMBER COLLEGES AND UNIVERSITIES.
EXPENSES INCURRED TO PROMOTE THE APPRECIATION OF INDEPENDENT HIGHER EDUCATION AND THE IMPORTANCE OF EDUCATIONAL, CULTURAL, AND ECONOMIC NEEDS OF WEST VIRGINIA AND THE NATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ben Beakes Executive Director | Officer | 30 | $0 |
Eric Mohan Member | Trustee | 2 | $0 |
Julie Gurtis Evp & Chief Banking Office | Trustee | 2 | $0 |
Cameron Nutting Williams Member | Trustee | 2 | $0 |
Aaron Sporck Member | Trustee | 2 | $0 |
John Mccuskey Secretary | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $309,085 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $309,085 |
| Total Program Service Revenue | $144,000 |
| Investment income | $38,137 |
| 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 | $493,971 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $403,692 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $100,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,351 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $68 |
| Office expenses | $384 |
| 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 | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,758 |
| All other expenses | $0 |
| Total functional expenses | $605,667 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $359,054 |
| Savings and temporary cash investments | $24,225 |
| Pledges and grants receivable | $100,343 |
| 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 | $697,637 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,009,011 |
| Total assets | $3,190,270 |
| Accounts payable and accrued expenses | $194,080 |
| Grants payable | $0 |
| 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 | $2,009,011 |
| Total liabilities | $2,203,091 |
| Net assets without donor restrictions | $867,315 |
| Net assets with donor restrictions | $119,864 |
| 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 | $3,190,270 |
Grants Awarded
Over the last fiscal year, West Virginia Independent Colleges And Universities Inc has awarded $403,689 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
Bethany, WV PURPOSE: SUPPORT OF OPERATIONS | $69,911 |
Wheeling, WV PURPOSE: SUPPORT OF OPERATIONS | $60,378 |
Charleston, WV PURPOSE: SUPPORT OF OPERATIONS | $52,878 |
Mount Hope, WV PURPOSE: SUPPORT OF OPERATIONS | $47,878 |
Elkins, WV PURPOSE: SUPPORT OF OPERATIONS | $44,411 |
Philippi, WV PURPOSE: SUPPORT OF OPERATIONS | $44,411 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that West Virginia Independent Colleges And Universities Inc has recieved totaling $42,122.
| Awarding Organization | Amount |
|---|---|
Greater Kanawha Valley Foundation Charleston, WV PURPOSE: GENERAL SUPPORT | $14,622 |
Nutting Foundation Wheeling, WV PURPOSE: CIRCLE OF VISION SCHOLARSHIP PROGRAM | $10,000 |
Community Foundations Inc Columbus, OH PURPOSE: EDUCATION | $10,000 |
Nutting Foundation Wheeling, WV PURPOSE: ANNUAL FUND FOR BETHANY COLLEGE | $5,000 |
Imperial Charitable Trust Lynchburg, VA PURPOSE: EDUCATIONAL | $2,500 |
Endowment Analysis
| Beg. Balance | $693,610 |
| Earnings | $48,253 |
| Grants | $20,000 |
| Ending Balance | $721,863 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Distributive Education Clubs Of America Group Return Reston, VA | $11,910,370 | $23,082,327 |
Educational Opportunity Centers Of Pennsylvania Edwardsville, PA | $248,179 | $1,067,036 |
West Virginia Independent Colleges And Universities Inc Charleston, WV | $3,190,270 | $493,971 |
Kirkpatrick Jordan Foundation Inc Columbus, OH | $6,990,755 | $400,153 |
American Traffic Safety Services Foundation Inc Fredericksburg, VA | $1,172,992 | $387,258 |
Hatboro Horsham Educational Foundation Horsham, PA | $605,519 | $227,713 |
North Central Ohio Education Association Lexington, OH | $125,245 | $0 |
Hood College Foundation Inc Frederick, MD | $1,752 | $0 |