Overview
What is Icut Foundation?
The Icut Foundation, based in Austin, Texas at 1303 SAN ANTONIO ST STE 820, is a nonprofit organization that partners with 40 colleges and universities in Texas. Their primary mission is to collaborate with institutional members, businesses, and relevant stakeholders, raising funds to develop and implement innovative programs. In fiscal year 2022, they awarded 78 scholarships totaling $196,600 to eligible students. The foundation's activities aim to support their educational members and contribute to their communities.
Official website here: www.icut.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
The Icut Foundation has achieved an impressive rating of 96%, earning a Four-Star distinction on Charity Navigator, which highlights its strong commitment to accountability and finance. The overall score reflects its dedication to maintaining a transparent and responsible financial framework, with a complete focus on accountability metrics.
Strengths of the foundation include having a fully independent board, comprised of 11 members, and a high program expense ratio of 96.95%. This indicates that the majority of its expenditures are directed towards its programs, ensuring that donor funds are effectively utilized to further its mission. Moreover, the organization has robust policies and procedures in place, such as a whistleblower policy and conflict of interest policy, which bolster its governance.
While the Icut Foundation showcases many strengths, it's crucial for potential donors to remain informed about ongoing operations and program impacts. Transparency in reporting and continuous engagement with stakeholders will keep the foundation in good standing and maintain the trust it has established through its high rating.
This AI summary has been generated from information found on Charity Navigator.
Is Icut Foundation legitimate?
Icut Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Icut Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $340,652
Professional Fundraising Fees: $0
Other Salaries and Wages: $396,784
For more financial information, click here
Official website here: www.icut.org
What is the mission statement of Icut Foundation?
The Icut Foundation's mission is centered around collaborating with institutional members, businesses, and relevant stakeholders. Their primary objective is to raise funds for the development and implementation of innovative programs and to administer privately funded scholarship opportunities. The foundation offers scholarship programs to the 40 independent colleges and universities it serves in Texas. In the fiscal year 2022, the Icut Foundation awarded a total of 78 scholarships, amounting to 196,600 dollars.
Official website here: www.icut.org
What is the revenue of Icut Foundation?
Icut Foundation's revenue in 2024 was $1,895,848.
Official website here: www.icut.org
Who are the executives of Icut Foundation and what are their salaries?
The average compensation at Icut Foundation during 2024 was $122,906. There are 6 employees and 11 volunteers at Icut Foundation.
Here are 14 key members and their salaries:
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- Compensation: $291,868
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- Other: $48,784
- Compensation: $114,234
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- Other: $27,193
- Compensation: $149,133
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- Other: $23,999
Official website here: www.icut.org
Where can I find the form 990 for Icut Foundation?
Icut Foundation's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.icut.org
Learn more at the official website: www.icut.org
Mission Statement of Icut Foundation
The Icut Foundation, a collaborative entity, works towards joining forces with institutional members, businesses, and relevant stakeholders. Their primary mission is to leverage these partnerships to raise funds for the development and implementation of innovative programs. Furthermore, they administer privately funded scholarship opportunities. By engaging with these various entities, the Icut Foundation aims to provide financial aid to the 40 independent colleges and universities it serves. In the fiscal year 2022 alone, the foundation awarded 78 scholarships, totaling an impressive $196,600. This commitment to academic support allows deserving students to pursue their educational goals and contribute to their communities.
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Impact
July, 2024
Icut Foundation's impact is evident in the support it provides to the 40 independent colleges and universities in Texas through scholarship programs. In fiscal year 2022 alone, the foundation awarded 78 scholarships totaling $196,600 to students in need. This assistance plays a crucial role in helping students pursue higher education and achieve their academic goals. Through collaboration with institutional members, businesses, and stakeholders, Icut Foundation is actively contributing to the education sector and facilitating access to educational opportunities for deserving individuals.
This information is meant to be a general summary of Icut Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Investment Income: $62,256
- Program Service Revenue: $1,422,573
- Gross Receipts: $1,895,848
Assets and Liabilities:
- Total Assets: $1,110,544
- Total Liabilities: $175,602
- Net Assets: $934,942
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Membership Dues
Revenue
$1,359,379
Meeting Fees
Revenue
$62,444
Program Sponsorship
Revenue
$750
Organization Details
Founding Year
1976
Principal Officer
Debbie Cottrell
Website
www.icut.orgNTEE Category
Code: B82 - Education
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