INDEPENDENT COLLEGE FUND OF MARYLAND INC: Form 990, tax year 2014
View the entire original 990 at ProPublica ↗
- Organization
- INDEPENDENT COLLEGE FUND OF MARYLAND INC (EIN 52-0692469)
- Tax period
- 2014-01-01 to 2014-12-31
- Filed
- 2015-05-05
- IRS object ID
- 201541259349300119
- Schema version
- 2014v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2015-05-05T09:21:35-05:00 | ReturnTs |
| Tax Period End | 2014-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 521365413 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | KAHN BERMAN SOLOMON TAIBEL & MOGOL PA | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 9515 DEERECO ROAD SUITE 801 | AddressLine1Txt |
| City | TIMONIUM | CityNm |
| State Abbreviation | MD | StateAbbreviationCd |
| ZIP | 210932108 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2014-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 520692469 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | INDEPENDENT COLLEGE FUND OF MARYLAND INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | INDE | BusinessNameControlTxt |
| Phone | 4102690306 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 60 WEST STREET NO 201 | AddressLine1Txt |
| City | ANNAPOLIS | CityNm |
| State Abbreviation | MD | StateAbbreviationCd |
| ZIP | 21401 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | TINA BJAREKULL | PersonNm |
| Person Title | MANAGING DIRECTOR | PersonTitleTxt |
| Phone | 4102690306 | PhoneNum |
| Signature | 2015-04-29 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | DEANNA AMOS | PreparerPersonNm |
| PTIN | P00028766 | PTIN |
| Phone | 4103080300 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2014 | TaxYr |
| Build TS | 2016-04-25 22:37:26Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Change | Yes (X) | AddressChangeInd |
| Principal Officer | TINA BJAREKULL | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 60 WEST STREET NO 201 | AddressLine1Txt |
| City | ANNAPOLIS | CityNm |
| State Abbreviation | MD | StateAbbreviationCd |
| ZIP | 21401 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $467,296 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | MICUA.ORG/I-FUND | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1953 | FormationYr |
| Legal Domicile State | MD | LegalDomicileStateCd |
| Activity Or Mission | FUNDRAISING FOR MEMBER COLLEGES | ActivityOrMissionDesc |
| Voting Members Governing Body | 35 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 35 | VotingMembersIndependentCnt |
| Total Employee | 5 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $978,795 | PYContributionsGrantsAmt |
| CY Contributions Grants | $467,177 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $0 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $0 | CYProgramServiceRevenueAmt |
| PY Investment Income | $277 | PYInvestmentIncomeAmt |
| CY Investment Income | -$1,337 | CYInvestmentIncomeAmt |
| PY Other Revenue | -$16,924 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $962,148 | PYTotalRevenueAmt |
| CY Total Revenue | $465,840 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $358,812 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $87,034 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $636,858 | PYOtherExpensesAmt |
| CY Other Expenses | $397,203 | CYOtherExpensesAmt |
| PY Total Expenses | $995,670 | PYTotalExpensesAmt |
| CY Total Expenses | $484,237 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$33,522 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$18,397 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $882,967 | TotalAssetsBOYAmt |
| Total Assets EOY | $561,956 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $546,981 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $256,065 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $335,986 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $305,891 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | THE MISSION OF THE I-FUND IS TO RAISE FUNDS FOR I-FUND MEMBER COLLEGES FOR PROGRAMS AND SCHOLARSHIPS TO PROMOTE COLLEGE ACCESS, CHOICE AND OPPORTUNITY. THE I-FUND STRIVES TO EXPAND EDUCATIONAL OPPORTUNITIES TO DIVERSIFY LEADERSHIP IN THE CIVIC, CORPORATE, AND POLITICAL COMMUNITIES; TO STRENGTHEN THE DEMOCRATIC PROCESS BY PREPARING PEOPLE TO REASON AND DISCERN TRUTH; AND TO ENRICH THE LEARNING ENVIRONMENT BY PROVIDING SUPPORT FOR NEW PROGRAMS, TECHNOLOGIES AND OTHER RESOURCES. THE I-FUND'S PROGRAMS INCLUDE UNRESTRICTED SUPPORT, A POOLED SCHOLARSHIP FUND, NAMED SCHOLARSHIPS, DESIGNATED SCHOLARSHIPS, AND A NATIONAL SECURITY SCHOLARS FUND. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $130,000 | ExpenseAmt |
| Desc | THE NATIONAL SECURITY SCHOLARS PROGRAM, CURRENTLY THE ONLY PROGRAM OF ITS KIND NATIONALLY, COMPLETED ITS FIFTEENTH YEAR IN 2014. THE FUND PROVIDES THE INDUSTRY ALLIANCE ACCESS TO A HIGHLY TALENTED POOL OF CANDIDATES WHO ARE INTERESTED IN PURSUING A CAREER IN INTELLIGENCE. BENEFITS TO SCHOLARS INCLUDE UP TO A $ 15,000 SCHOLARSHIP, ASSISTANCE WITH PROCESSING FOR A NATIONAL SECURITY CLEARANCE, PAID INTERNSHIP OPPORTUNITIES WITH A PROGRAM SUPPORTER, AND OPPORTUNITY FOR FULL TIME EMPLOYMENT. THE PROGRAM'S FIFTEENTH YEAR CULMINATED WITH THE FOLLOWING RESULTS: $2.7 MILLION IN CUMULATIVE SCHOLARSHIP SUPPORT; 200 PLUS STUDENTS RECEIVING SCHOLARSHIPS; 150 PLUS STUDENTS RECEIVING PAID INTERNSHIP OPPORTUNITIES; AND A 90% HIRE AND RETENTION RATE INTO THE INDUSTRY ALLIANCE. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $41,000 | ExpenseAmt |
| Desc | THE NAMED SCHOLARSHIP PROGRAM PROVIDES BUSINESSES AND FOUNDATION PARTNERS A PHILANTHROPIC OPPORTUNITY TO DEMONSTRATE THEIR COMMITMENT TO HIGHER EDUCATION BY CREATING A NAMED SCHOLARSHIP. NAMED SCHOLARSHIPS ARE AWARDED TO ONE STUDENT AT EACH MEMBER COLLEGE, BASED ON DEMONSTRATED FINANCIAL NEED. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $26,031 | ExpenseAmt |
| Desc | THE DESIGNATED SCHOLARHIP PROGRAM ALLOWS DONORS TO CHOOSE THE SPECIFIC I-FUND MEMBER COLLEGE THAT WILL BENEFIT FROM THEIR GIFT TO THE I-FUND. | Desc |
Prog Srvc Accom Acty Other ProgSrvcAccomActyOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $208,785 | ExpenseAmt |
| Desc | ADDITIONAL I-FUND PROGRAMS INCLUDE THE MARYLAND POOLED SCHOLARSHIP FUND WHICH IS DESIGNED TO BE FLEXIBLE IN ALLOWING THE COLLEGES TO ASSIST AS MANY NEEDY STUDENTS AS POSSIBLE. THE I-FUND IS ALSO A MEMBER OF THE FOUNDATION FOR INDEPENDENT HIGHER EDUCATION WHICH COLLABORATES WITH HUNDREDS OF PRIVATE COLLEGES ACROSS THE NATION AND IS A PRIMARY VOICE OF INDEPENDENT HIGHER EDUCATION. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Prog Srvc Expense | $208,785 | TotalOtherProgSrvcExpenseAmt |
| Total Program Service Expenses | $405,816 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Temp Or Permanent Endowments | Yes (1) | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | 0 | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | 0 | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 1 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 5 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 35 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 35 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | Yes (1) | DelegationOfMgmtDutiesInd |
| Change To Org Documents | Yes (1) | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | MD | StatesWhereCopyOfReturnIsFldCd |
| Other Website | Yes (X) | OtherWebsiteInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | TINA BJAREKULL | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 4102690306 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 60 WEST STREET SUITE 201 | AddressLine1Txt |
| City | ANNAPOLIS | CityNm |
| State Abbreviation | MD | StateAbbreviationCd |
| ZIP | 21401 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (38 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd |
|---|---|---|---|---|---|---|
| JOY BEVERIDGE | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| TINA BJAREKULL | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| JOHN BLAIR | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| JOAN COLEY | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| GIANNA ARNOLD | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| ROGER CASEY | ||||||
| PRESIDENT | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| RONALD DANIELS | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| HARRY KLEISER | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| PETER KEITH | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| REV BRIAN LINNANE | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| KEVIN J MANNING | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| JOSEPH DIMAGGIO JR | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| ELI EISENBERG | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| CHRISTOPHER B NELSON | ||||||
| TREASURER | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| CHRIS NEWMAN | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| HARRY O'MEALIA | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| THOMAS H POWELL | ||||||
| SECRETARY | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| MARY BETH LENNON | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| SEAN SANDS | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| PATRICK SATY | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MIKE YOUNG | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MARTY BRUNK | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| DAVE TARTAGLIA | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| CINDY THOMPSON | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| SANFORD UNGAR | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| RONALD J VOLPE | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| HOLT MARCHANT JR | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| E MAGRUDER PASSANO JR | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| DAVID QUARANTA | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MITCHELL REISS | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| JENNIFER SMITH | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| DAVE GARBARINO | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MAXINE HOEN | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| ROB BIAGIOTTI | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| DANIEL ENNIS | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| BRAD MONTGOMERY | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| TIMOTHY WATKINS | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| LORI SUBOTICH | ||||||
| FORMER EXECUTIVE DIRECTOR | 40.00 | $50,248 | $0 | $5,519 | Yes (X) | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $50,248 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $5,519 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | 0 | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
| Cntrct Rcvd Greater Than100 K | 0 | CntrctRcvdGreaterThan100KCnt |
| Membership Dues | $140,000 | MembershipDuesAmt |
| All Other Contributions | $327,177 | AllOtherContributionsAmt |
| Total Contributions | $467,177 | TotalContributionsAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $119 | TotalRevenueColumnAmt |
| Exclusion | $119 | ExclusionAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $1,456 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | -$1,456 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$1,456 | TotalRevenueColumnAmt |
| Exclusion | -$1,456 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $465,840 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | -$1,337 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $55,589 | TotalAmt |
| Program Services | $43,693 | ProgramServicesAmt |
| Management And General | $11,896 | ManagementAndGeneralAmt |
Comp Disqual Persons CompDisqualPersonsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $20,053 | TotalAmt |
| Program Services | $15,762 | ProgramServicesAmt |
| Management And General | $4,291 | ManagementAndGeneralAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,095 | TotalAmt |
| Program Services | $860 | ProgramServicesAmt |
| Management And General | $235 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,944 | TotalAmt |
| Program Services | $3,887 | ProgramServicesAmt |
| Management And General | $1,057 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,353 | TotalAmt |
| Program Services | $4,207 | ProgramServicesAmt |
| Management And General | $1,146 | ManagementAndGeneralAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $41,030 | TotalAmt |
| Program Services | $28,721 | ProgramServicesAmt |
| Management And General | $12,309 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,145 | TotalAmt |
| Management And General | $11,145 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,000 | TotalAmt |
| Management And General | $9,000 | ManagementAndGeneralAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,500 | TotalAmt |
| Program Services | $2,500 | ProgramServicesAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,533 | TotalAmt |
| Program Services | $4,349 | ProgramServicesAmt |
| Management And General | $1,184 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $209 | TotalAmt |
| Program Services | $164 | ProgramServicesAmt |
| Management And General | $45 | ManagementAndGeneralAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,429 | TotalAmt |
| Management And General | $2,429 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $154 | TotalAmt |
| Management And General | $154 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| MEMBERSHIP DISTRIBUTION | $261,019 | $261,019 | |
| OTHER PROGRAM EXPENSES | $37,429 | $37,429 | |
| BAD DEBT EXPENSE | $20,000 | $20,000 | |
| FIHE DUES AND EXPENSES | $3,225 | $3,225 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,530 | TotalAmt |
| Management And General | $3,530 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $484,237 | TotalAmt |
| Program Services | $405,816 | ProgramServicesAmt |
| Management And General | $78,421 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $494,643 | BOYAmt |
| EOY | $196,090 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $70,500 | BOYAmt |
| EOY | $70,000 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,375 | BOYAmt |
| EOY | $0 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $7,209 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $4,808 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,285 | BOYAmt |
| EOY | $2,401 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $305,164 | BOYAmt |
| EOY | $293,465 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $882,967 | BOYAmt |
| EOY | $561,956 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,073 | BOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $30,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $540,908 | BOYAmt |
| EOY | $226,065 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $546,981 | BOYAmt |
| EOY | $256,065 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -$50,890 | BOYAmt |
| EOY | -$4,643 | EOYAmt |
Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $106,876 | BOYAmt |
| EOY | $30,534 | EOYAmt |
Permanently Rstr Net Assets PermanentlyRstrNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $280,000 | BOYAmt |
| EOY | $280,000 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $335,986 | BOYAmt |
| EOY | $305,891 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $882,967 | BOYAmt |
| EOY | $561,956 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | -$18,397 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$11,698 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | 0 | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supporting Organization509a3 | Yes (X) | SupportingOrganization509a3Ind |
| Supporting Org Type3 Func Int | Yes (X) | SupportingOrgType3FuncIntInd |
| Supported Organizations | 12 | SupportedOrganizationsCnt |
Supported Org Information SupportedOrgInformationGrp (12 entries)
| EINEIN | Organization TypeOrganizationTypeDesc | Governing Document ListedGoverningDocumentListedInd | SupportSupportAmt | Other SupportOtherSupportAmt |
|---|---|---|---|---|
| CAPITOL TECHNOLOGY UNIVERSITY | ||||
| 520805606 | 2 | 0 | $0 | $0 |
| GOUCHER COLLEGE | ||||
| 520591613 | 2 | 0 | $46,355 | $0 |
| HOOD COLLEGE | ||||
| 520591608 | 2 | 0 | $48,438 | $0 |
| JOHNS HOPKINS UNIVERSITY | ||||
| 520595110 | 2 | 0 | $32,345 | $0 |
| LOYOLA UNIVERSITY | ||||
| 520591623 | 2 | 0 | $44,029 | $0 |
| MCDANIEL COLLEGE | ||||
| 520591694 | 2 | 0 | $58,908 | $0 |
| MOUNT SAINT MARYS | ||||
| 520591672 | 2 | 0 | $63,026 | $0 |
| STEVENSON UNIVERSITY | ||||
| 520705392 | 2 | 0 | $139,126 | $0 |
| WASHINGTON ADVENTIST UNIVERSITY | ||||
| 520643528 | 2 | 0 | $0 | $0 |
| WASHINGTON COLLEGE | ||||
| 520591691 | 2 | 0 | $24,595 | $0 |
| NOTRE DAME OF MARYLAND UNIVERSITY | ||||
| 520591641 | 2 | 0 | $23,300 | $0 |
| ST JOHN'S COLLEGE | ||||
| 520591421 | 2 | 0 | $12,750 | $0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supported Organizations Total | 12 | SupportedOrganizationsTotalCnt |
| Support Sum | $492,872 | SupportSumAmt |
Form990 Sch A Supporting Org Form990SchASupportingOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Listed By Name Governing Doc | 0 | ListedByNameGoverningDocInd |
| Suprt Org No IRS Determination | 0 | SuprtOrgNoIRSDeterminationInd |
| Supported Org Section C456 | 0 | SupportedOrgSectionC456Ind |
| Supported Org Not Organized US | 0 | SupportedOrgNotOrganizedUSInd |
| Organization Change Suprt Org | Yes (1) | OrganizationChangeSuprtOrgInd |
| Support Non Supported Org | 0 | SupportNonSupportedOrgInd |
| Payment Substantial Contribtr | 0 | PaymentSubstantialContribtrInd |
| Loan Disqualified Person | 0 | LoanDisqualifiedPersonInd |
| Controlled Disqualified Prsn | 0 | ControlledDisqualifiedPrsnInd |
| Disqualified Prsn Controll Int | 0 | DisqualifiedPrsnControllIntInd |
| Disqualified Prsn Ownr Int | 0 | DisqualifiedPrsnOwnrIntInd |
| Excess Business Holdings Rules | 0 | ExcessBusinessHoldingsRulesInd |
| Contribution Controller | 0 | ContributionControllerInd |
| Contribution Family | 0 | ContributionFamilyInd |
| Contribution35 Controlled | 0 | Contribution35ControlledInd |
Form990 Sch A Type3 Sprt Org All Form990SchAType3SprtOrgAllGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timely Provided Documents | Yes (1) | TimelyProvidedDocumentsInd |
| Officers Close Relationship | Yes (1) | OfficersCloseRelationshipInd |
| Supported Org Voice Investment | Yes (1) | SupportedOrgVoiceInvestmentInd |
Form990 Sch A Type3 Func Int Form990SchAType3FuncIntGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Activities Test | Yes (X) | ActivitiesTestInd |
| Activities Further Exempt Prps | Yes (1) | ActivitiesFurtherExemptPrpsInd |
| Activities Engaged Org Invlmnt | Yes (1) | ActivitiesEngagedOrgInvlmntInd |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp (5 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| SCHEDULE A, PART IV, SECTION A, LINE 1 | SUPPORTED ORGANIZATIONS ARE INDEPENDENT COLLEGES IN MARYLAND THAT ARE MEMBERS OF THE I-FUND. INDEPENDENT COLLEGES MUST SATISFY THE FOLLOWING REQUIREMENTS TO BE ELIGIBLE FOR MEMBERSHIP: LOCATED IN THE STATE OF MARYLAND, ACCREDITED BY THE MIDDLE STATES ASSOCIATION OF COLLEGES AND SCHOOLS, AUTHORIZED AS A FOUR-YEAR DEGREE GRANTING INSTITUTION BY THE MARYLAND HIGHER EDUCATION COMMISSION, DEFINED BY SECTION170(C) OF THE IRC AS A SCHOOL, HAVE A PREDOMINANTLY NON-SECTARIAN FOCUS IN ACADEMICS AND A PERVASIVE FINANCIAL RELIANCE ON THE PRIVATE SECTOR, AND BE A MEMBER OF THE MARYLAND INDEPENDENT COLLEGE AND UNIVERSITY ASSOCIATION. |
| SCHEDULE A, PART IV, SECTION A, LINE 5A | THE I-FUND ADDED THE FOLLOWING TWO SUPPORTED ORGANIZATIONS DURING THE TAX YEAR FOR THE PURPOSE OF PROVIDING SCHOLARSHIPS AND GRANTS TO STUDENTS: (1) WASHINGTON ADVENTIST UNIVERSITY - 52-0643528, AND (2) CAPITOL TECHNOLOGY UNIVERSITY - 52-0805606. THE ADDITION OF THESE ORGANIZATIONS WAS APPROVED BY THE AFFIRMATIVE VOTE OF TWO-THIRDS OF THE MEMBERS OF THE BOARD OF DIRECTORS DURING A MEETING OF THE BOARD. |
| SCHEDULE A, PART IV, SECTION D, LINE 3 | THE BOARD OF DIRECTORS IS COMPRISED OF PRESIDENTS OF MEMBER ORGANIZATIONS, WHICH ARE ELECTED BY MEMBERS AT THE ANNUAL MEETING OF THE ORGANIZATION. |
| SCHEDULE A, PART IV, SECTION E, LINE 2A | MEMBER COLLEGES GRANT SCHOLARSHIPS TO ELIGIBLE STUDENTS, IN SUPPORT OF HIGHER EDUCATION. THE I-FUND SOLICITS CONTRIBUTIONS FROM CORPORATIONS, BUSINESSES AND FOUNDATIONS FOR THE BEENFIT OF THE ANNUAL OPERATING BUDGETS OF MEMBER COLLEGES, INCLUDING SPECIFIC SCHOLARSHIPS WHICH ARE AWARDED BY THE MEMBER COLLEGES. THIS SUPPORT CONSTITUTES THE SOLE PURPOSE FOR WHICH THE I-FUND WAS ESTABLISHED. |
| SCHEDULE A, PART IV, SECTION E, LINE 2B | TO PROMOTE HIGHER EDUCATION, COLLEGES ROUTINELY PROVIDE SCHOLARSHIPS TO ELIGIBLE STUDENTS. |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
CY Endwmt Fund CYEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $305,164 | BeginningYearBalanceAmt |
| End Year Balance | $305,164 | EndYearBalanceAmt |
CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $287,440 | BeginningYearBalanceAmt |
| Investment Earnings Or Losses | $31,059 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | -$14,070 | GrantsOrScholarshipsAmt |
| Administrative Expenses | -$1,474 | AdministrativeExpensesAmt |
| End Year Balance | $305,164 | EndYearBalanceAmt |
CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $275,438 | BeginningYearBalanceAmt |
| Investment Earnings Or Losses | $24,930 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | -$13,504 | GrantsOrScholarshipsAmt |
| Administrative Expenses | -$1,402 | AdministrativeExpensesAmt |
| End Year Balance | $287,440 | EndYearBalanceAmt |
CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $300,161 | BeginningYearBalanceAmt |
| Investment Earnings Or Losses | -$11,185 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | -$14,456 | GrantsOrScholarshipsAmt |
| Administrative Expenses | -$1,422 | AdministrativeExpensesAmt |
| End Year Balance | $275,438 | EndYearBalanceAmt |
CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $283,883 | BeginningYearBalanceAmt |
| Investment Earnings Or Losses | $34,127 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | -$16,448 | GrantsOrScholarshipsAmt |
| Administrative Expenses | -$1,401 | AdministrativeExpensesAmt |
| End Year Balance | $300,161 | EndYearBalanceAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Endowments Held Unrelated Org | Yes (1) | EndowmentsHeldUnrelatedOrgInd |
| Endowments Held Related Org | 0 | EndowmentsHeldRelatedOrgInd |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $7,209 | OtherCostOrOtherBasisAmt |
| Depreciation | $4,808 | DepreciationAmt |
| Book Value | $2,401 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $2,401 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | DISTRIBUTIONS PAYABLE | Desc |
| Amt | $226,065 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $226,065 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $471,545 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | -$11,698 | NetUnrealizedGainsInvstAmt |
| Donated Services And Use Fclts | $15,947 | DonatedServicesAndUseFcltsAmt |
| Revenue Not Reported | $4,249 | RevenueNotReportedAmt |
| Revenue Subtotal | $467,296 | RevenueSubtotalAmt |
| Other Revenues Not Included | -$1,456 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | -$1,456 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $465,840 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $501,640 | TotExpnsEtcAuditedFinclStmtAmt |
| Donated Services Use Fclts | $15,947 | DonatedServicesUseFcltsAmt |
| Other Expenses Included | $1,456 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $17,403 | ExpensesNotReportedAmt |
| Expenses Subtotal | $484,237 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $484,237 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART V, LINE 4: | THE ENDOWMENT FUNDS SHALL BE USED FOR SUPPORT OF THE CHARITABLE PURPOSES OF THE I-FUND. THE I-FUND MAY, BASED ON CIRCUMSTANCES, NEEDS OR OPPORTUNITIES DEEMED SUFFICIENT TO IT, RECOMMEND AND REQUEST DISTRIBUTION OF ALL OR PART OF THE INITIAL CONTRIBUTION AND ADDITIONAL AMOUNTS OF PRINCIPAL IT SUBSEQUENTLY CONTRIBUTES TO THE ENDOWMENT FUNDS. |
| PART X, LINE 2: | THE I-FUND IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, EXEMPTION LETTER DATED JUNE, 1953. THE INTERNAL REVENUE SERVICE HAS ALSO CLASSIFIED THE I-FUND AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION. THE I-FUND HAS EVALUATED ITS TAX POSITIONS TAKEN FOR ALL OPEN YEARS DECEMBER 31, 2011 THROUGH DECEMBER 31, 2014. CURRENTLY, THE I-FUND IS NOT UNDER AUDIT, NOR HAVE THEY BEEN CONTACTED BY ANY TAXING JURISDICTIONS. IF INTEREST AND PENALTIES WERE RECORDED, THEY WOULD BE INCLUDED IN INCOME TAX EXPENSE. AS OF DECEMBER 31, 2014 AND 2013, NO INTEREST OR PENALTIES HAVE BEEN RECORDED. BASED ON THE EVALUATION OF THE I-FUND'S TAX POSITIONS AND ELECTIONS, MANAGEMENT BELIEVES ALL TAX POSITIONS TAKEN WOULD BE UPHELD UNDER EXAMINATION. THEREFORE, NO PROVISION FOR EFFECTS OF UNCERTAIN TAX POSITIONS HAVE BEEN RECORDED AS OF DECEMBER 31, 2014 AND 2013 AND FOR THE YEARS THEN ENDED. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | LOSS ON DISPOSAL OF ASSETS -1,456. |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | LOSS ON DISPOSAL OF ASSETS 1,456. |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 3 | EFFECTIVE JULY 1, 2014, THE I-FUND MOVED MANAGEMENT OF DAILY OPERATIONS TO THE MARYLAND INDEPENDENT COLLEGE & UNIVERSITY ASSOCIATION, INC. (MICUA). THE I-FUND MAINTAINS ITS OFFICES AT MICUA HEADQUARTERS LOCATED AT 60 WEST STREET, SUITE 201, ANNAPOLIS, MD 21401. ALL REGULAR I-FUND STAFF MEMBERS ARE EMPLOYEES OF MICUA. MICUA AND I-FUND HAVE A SERVICE MANAGEMENT AGREEMENT THAT DEFINES THE RESPONSIBILITIES OF THE MANAGEMENT COMPANY. A MANAGEMENT FEE IS NEGOTIATED THAT COVERS ALL EXPENSES ASSOCIATED WITH THE ACTIVITIES OF THE I-FUND. |
| FORM 990, PART VI, SECTION A, LINE 4 | ON JUNE 18, 2014, THE ORGANIZATION UPDATED ITS BYLAWS REGARDING MEMBER ELIGIBILITY CRITERIA, THE PROCESS TO JOIN THE I-FUND, DUES ASSESSMENTS, AND TERMS OF OFFICE FOR THE BOARD OF DIRECTORS, AMONG OTHER UPDATES. |
| FORM 990, PART VI, SECTION A, LINE 6 | MEMBERSHIP CONSISTS OF TWELVE FOUR-YEAR LIBERAL ARTS COLLEGES LOCATED IN MARYLAND. THESE TWELVE COLLEGES ARE REPRESENTED BY THE COLLEGES' PRESIDENT OR CHIEF EXECUTIVE OFFICER. |
| FORM 990, PART VI, SECTION A, LINE 7A | MEMBERS ELECT DIRECTORS AT THE ANNUAL MEETING OF MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 7B | THE ANNUAL BUDGET AS WELL AS ANY NEW PROGRAMS MUST BE APPROVED BY THE 12 MEMBER COLLEGES. |
| FORM 990, PART VI, SECTION B, LINE 11 | A DRAFT OF THE 990 WAS DISTRIBUTED TO THE OFFICERS OF THE BOARD, FOR REVIEW, PRIOR TO FILING. |
| FORM 990, PART VI, SECTION B, LINE 12C | IF THE GOVERNING BOARD OR COMMITTEE HAS REASONABLE CAUSE TO BELIEVE A MEMBER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE MEMBER OF THE BASIS FOR SUCH BELIEF AND AFFORD THE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE MEMBER'S RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE GOVERNING BOARD OR COMMITTEE DETERMINES THE MEMBER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. |
| FORM 990, PART VI, SECTION B, LINE 15A | DISCUSSION REGARDING COMPENSATION OF THE ORGANIZATION'S EXECUTIVE DIRECTOR IS CONDUCTED BY THE EXECUTIVE COMMITTEE IN A CLOSED DOOR SESSION WITHOUT THE EXECUTIVE DIRECTOR OR STAFF PRESENT. COMPARABLE DATA FROM OTHER STATES AND THEIR STATE EXECUTIVES IS GIVEN TO THE EXECUTIVE COMMITTEE FOR REVIEW ON AN AS NEEDED BASIS. |
| FORM 990, PART VI, SECTION C, LINE 19 | IFUND MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO ANYONE UPON REQUEST. |