Texas Tech Alumni Association
- Assets
- $19.4m
- Revenue
- $6.4m
- Investments
- $201.2k
- Employees
- 32
- Location
- Lubbock, TX
- Founding
- 09/1949
- Data as of
- 12/2023
- EIN
- 75-6036607
Organization Overview
Texas Tech Alumni Association is located in Lubbock, TX. The organization was established in 1949. According to its NTEE Classification (B84) the organization is classified as: Alumni Associations, under the broad grouping of Education and related organizations. As of 12/2023, Texas Tech Alumni Association employed 32 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Texas Tech Alumni Association 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 12/2023, Texas Tech Alumni Association generated $6.4m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 7.9% each year. All expenses for the organization totaled $4.3m during the year ending 12/2023. While expenses have increased by 1.3% per year over the past 9 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION CULTIVATES LOYALTY, TRADITION, SERVICE, AND LIFELONG RELATIONSHIPS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
UNIVERSITY SUPPORT PROJECTS - PROVIDE FUNDS TO SUPPORT THE ONGOING PROJECTS OF THE UNIVERSITY OR TO SUPPORT KEY AREAS OF IMPORTANCE OF THE UNIVERSITY. (EXAMPLES INCLUDE FACULTY AWARDS, ACADEMIC RECRUITMENT, ATHLETICS, ETC.)
SCHOLARSHIPS - PROVIDE FUNDS TO SUPPORT STUDENTS IN THEIR GOALS OF ADVANCEMENT OF HIGHER EDUCATION AND TO PROMOTE ACADEMIC RECRUITMENT BY PROVIDING ADDITIONAL FUNDING SOURCES AVAILABLE TO STUDENTS.
CHAPTER MEMBER SERVICES - PROVIDE FUNDS TO SUPPORT THE ACTIVITIES OF LOCAL ALUMNI GROUPS AND OTHER RELATED ORGANIZATIONS' EFFORTS AT ACADEMIC RECRUITMENT & PROMOTION OF THE UNIVERSITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nathan Nash Chairman | OfficerTrustee | 15 | $0 |
Kevin Nelson Finance Committee Chair | OfficerTrustee | 5 | $0 |
Heath Cheek Centennial Chair | OfficerTrustee | 5 | $0 |
Morris Wilkes Chair-Elect | OfficerTrustee | 1 | $0 |
Staci Hix-Hernandez Past Chairman | OfficerTrustee | 1 | $0 |
Isaac Albarado Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $145,269 |
| Related organizations | $75,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,773,356 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,993,625 |
| Total Program Service Revenue | $59,969 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $335,987 |
| Net Rental Income | -$153,698 |
| Net Gain/Loss on Asset Sales | $184,094 |
| Net Income from Fundraising Events | -$36,870 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$18,824 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,427,822 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $738,689 |
| Compensation of current officers, directors, key employees. | $147,738 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $913,717 |
| Pension plan accruals and contributions | $50,773 |
| Other employee benefits | $260,907 |
| Payroll taxes | $144,147 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $31,230 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,522 |
| Advertising and promotion | $211,182 |
| Office expenses | $43,870 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $127,247 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,321 |
| Interest | $29,558 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $567,383 |
| Insurance | $106,831 |
| All other expenses | $51,024 |
| Total functional expenses | $4,314,801 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,837,761 |
| Savings and temporary cash investments | $2,744,152 |
| Pledges and grants receivable | $1,295,701 |
| Accounts receivable, net | $343,637 |
| 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 | $88,775 |
| Net Land, buildings, and equipment | $10,263,711 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $201,154 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $672,162 |
| Total assets | $19,447,053 |
| Accounts payable and accrued expenses | $816,264 |
| Grants payable | $0 |
| Deferred revenue | $340,012 |
| 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 | $19,029 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $598,274 |
| Total liabilities | $1,773,579 |
| Net assets without donor restrictions | $16,128,673 |
| Net assets with donor restrictions | $1,544,801 |
| 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 | $19,447,053 |