2022-04-21T11:04:26-05:00 2021-09-30 742516372 REYNOLDS & FRANKE PC 6850 AUSTIN CENTER BLVD SUITE 100 AUSTIN TX 78731 990 2020-10-01 751540769 ICUT FOUNDATION ICUT 5124729522 1303 SAN ANTONIO ST NO 820 AUSTIN TX 78701 STEVEN JOHNSON CHIEF EXECUTIVE OFFICER 5124729522 2022-04-21 1 STEVEN JOHNSON 999009999 RONALD H REYNOLDS P00964479 5122063141 2022-03-29 0 AAL1 IAL1 2020 2022-09-23 18:48:47Z RICHARD LUDWICK 1303 SAN ANTONIO ST NO 820 AUSTIN TX 78701 234612 0 X ICUT.ORG/PAGE/FOUNDATIONOVERVIEW X 1976 TX COLLABORATE WITH INSTITUTIONAL MEMBERS, BUSINESSES AND RELEVANT STAKEHOLDERS. 11 11 0 11 0 0 226000 234600 0 0 536 12 0 0 226536 234612 189000 193600 0 0 0 0 0 0 0 30058 30213 219058 223813 7478 10799 205406 222305 144797 150897 60609 71408 TO COLLABORATE WITH INSTITUTIONAL MEMBERS, BUSINESSES, AND RELEVANT STAKEHOLDERS TO RAISE FUNDS TO DEVELOP AND IMPLEMENT INNOVATIVE PROGRAMS AND ADMINISTER PRIVATELY FUNDED SCHOLARSHIP OPPORTUNITIES. 0 0 217350 193600 THE 40 INDEPENDENT COLLEGES AND UNIVERSITIES IN TEXAS, WHO ARE SERVED BY THE FOUNDATION, WERE GIVEN THE OPPORTUNITY TO PARTICIPATE IN SCHOLARSHIP PROGRAMS. IN FISCAL YEAR 2021, THE ICUT FOUNDATION AWARDED 74 SCHOLARSHIPS TOTALING $182,300. 217350 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 0 0 0 X STEVEN JOHNSON 5124729522 1303 SAN ANTONIO ST NO 820 AUSTIN TX 78701 FREDERICK SLABACH CHAIR 0.50 4.00 X X 0 0 0 RICHARD LUDWICK CHAIR-ELECT 0.50 4.00 X X 0 0 0 SANDRA HARPER PAST CHAIR 0.50 4.00 X 0 0 0 BLAIR BLACKBURN SECRETARY 0.50 4.00 X X 0 0 0 COLETTE BURNETTE TREASURER 0.50 4.00 X X 0 0 0 DEBBIE COTTRELL DIRECTOR 0.50 4.00 X 0 0 0 DON CHRISTIAN DIRECTOR 0.50 4.00 X 0 0 0 STEVEN O'DAY DIRECTOR 0.50 4.00 X 0 0 0 DAVID LEEBRON DIRECTOR 0.50 4.00 X 0 0 0 CHARLIE MCCORMICK DIRECTOR 0.50 4.00 X 0 0 0 LINDA LIVINGSTONE DIRECTOR 0.50 4.00 X 0 0 0 STEVEN JOHNSON CHIEF EXECUTIVE OFFICER 1.50 36.00 X 0 123757 38154 0 123757 38154 0 0 1 0 0 38000 196600 234600 12 12 234612 0 0 12 193600 193600 6231 6231 202 202 23750 23750 MISCELLANEOUS 30 30 223813 217350 6463 0 92448 109365 112958 112940 205406 222305 142797 150897 2000 0 144797 150897 X 60159 71408 450 0 60609 71408 205406 222305 10799 0 X 0 1 X 1 0 X 186250 253151 244450 226000 234600 1144451 186250 253151 244450 226000 234600 1144451 277024 867427 27 1196 2564 536 12 4335 1148786 0.75510 0.73370 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 X PART X, LINE 2: THE MOST SIGNIFICANT TAX POSITION OF THE FOUNDATION IS ITS ASSERTIONS THAT IT IS EXEMPT FROM INCOME TAXES AND ITS DETERMINATIONS OF WHETHER ANY AMOUNTS ARE SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT). MANAGEMENT HAD DETERMINED THAT THE FOUNDATION HAD NO ACTIVITY SUBJECT TO UBIT DURING THE FISCAL YEAR ENDED SEPTEMBER 30, 2021. ALL SIGNIFICANT TAX POSITIONS HAVE BEEN CONSIDERED BY MANAGEMENT AND IT HAS DETERMINED THAT IT IS MORE LIKELY THAN NOT THAT ALL TAX POSITIONS WOULD BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. 1 PACCAR SCHOLARSHIP 40 75000 UPS SCHOLARSHIP 38 118600 PART I, LINE 2: REQUIRE EACH UNIVERSITY TO SUBMIT AN APPLICATION ON BEHALF OF THE SCHOLARSHIP RECIPIENT. THE VETTING REGARDING THE NEED OF THE STUDENT IS DONE BY THE UNIVERSITY. 0 0 0 0 0 0 0 0 0 STEVEN JOHNSON CHIEF EXECUTIVE OFFICER 0 123757 0 0 0 0 0 31767 0 6387 0 161911 0 0 PART I LINE 3: THE PRESIDENT/CEO'S TIME IS DONATED TO THE FOUNDATION FROM ICUT. ICUT ESTABLISHES COMPENSATION FOR THE PRESIDENT/CEO BY USING A COMPENSATION COMMITTEE AND STUDY, WRITTEN CONTRACT AND BY APPROVAL OF THE BOARD. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THE FOUNDATION ARE THE PRESIDENTS OR CHANCELLORS OF THE 38 INDEPENDENT INSTITUTIONS OF HIGHER EDUCATION IN TEXAS THAT ARE SACSCOC ACCREDITED, ONE PRIVATE MEDICAL SCHOOL ACCREDITED BY THE LIAISON COMMITTEE ON MEDICAL EDUCATION, AND ONE AFFILIATE MEMBER. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE INDEPENDENT COLLEGES & UNIVERSITIES OF TEXAS, INC. (ICUT) ARE THE PRESIDENTS OR CHANCELLORS OF THE 38 INDEPENDENT INSTITUTIONS OF HIGHER EDUCATION IN TEXAS THAT ARE SACSCOC ACCREDITED, ONE PRIVATE MEDICAL SCHOOL ACCREDITED BY THE LIAISON COMMITTEE ON MEDICAL EDUCATION, AND ONE AFFILIATE MEMBER. AT ICUT'S ANNUAL MEETING EACH YEAR THESE VOTING MEMBERS ELECT THE NEW DIRECTORS AND OFFICERS OF THE BOARD OF DIRECTORS, WHO IN TURN ARE BOARD MEMBERS OF ICUT FOUNDATION AS WELL. FORM 990, PART VI, SECTION A, LINE 7B CERTAIN DECISIONS OF THE BOARD OF DIRECTORS MUST BE APPROVED BY A MAJORITY VOTE OF A QUORUM OF THE VOTING MEMBERS. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE PRESIDENT, CHAIR, AND CHAIR ELECT WITH THE PREPARING CPA. THE ENTIRE BOARD APPROVES FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS MUST REVIEW AND SIGN THE CONFLICT OF INTEREST POLICY EACH YEAR. A LIST OF CURRENT VENDORS IS PROVIDED TO THEM WITH THE FORM. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. INDEPENDENT COLLEGES & UNIVERSITIES OF TEXAS INC 1303 SAN ANTONIO ST 820 AUSTIN TX 78701 751285930 ADVOCATE FOR MEMBER COLLEGES TX 501(C)(6) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 INDEPENDENT COLLEGES & UNIVERSITIES OF TEXAS INC N 2970 ALLOCATION OF COST INDEPENDENT COLLEGES & UNIVERSITIES OF TEXAS INC O 21380 ALLOCATION OF COST INDEPENDENT COLLEGES & UNIVERSITIES OF TEXAS INC S 36000 ACTUAL CASH