TY 2024 Form 990

(A) Name and title	(B) Average hours per week (list any hours for related organizations below dotted line)	(C) Position (do not check more than one box, unless person is both an officer and a director/trustee)	(E) Reportable compensation from related organizations (W-2/1099-MISC/1099-NEC)
(1) Dr Dottie King...................................................................... President/Secretary	40.0 ................. 0.0	X	X	296,447	40,239
(2) Dr Karl W Einolf...................................................................... Chair	1.0 ................. 40.0	X	X	0	0
(3) Dr Katie Conboy...................................................................... Vice Chair	1.0 ................. 40.0	X	X	0	0
(4) Robert A Coons...................................................................... Treasurer	1.0 ................. 40.0	X	X	0	0
(5) Brennan Randolph...................................................................... Director (Start 8/9/24)	1.0 ................. 40.0	X		0	0
(6) Christopher M Pietruszkiewicz JD...................................................................... Director	1.0 ................. 40.0	X		0	0
(7) Daniel Elsener...................................................................... Director	1.0 ................. 40.0	X		0	0
(8) Dr Amy McCormack...................................................................... Director	1.0 ................. 40.0	X		0	0
(9) Dr Barbara Bellefeuille...................................................................... Director	1.0 ................. 40.0	X		0	0
(10) Dr D Michael Lindsay...................................................................... Director	1.0 ................. 40.0	X		0	0
(11) Dr Drew Flamm...................................................................... Director	1.0 ................. 40.0	X		0	0
(12) Dr Earl Brooks II...................................................................... Director	1.0 ................. 40.0	X		0	0
(13) Dr Jerry Thacker...................................................................... Director (Start 7/1/24)	1.0 ................. 40.0	X		0	0
(14) Dr Jonathan Kulaga...................................................................... Director	1.0 ................. 40.0	X		0	0
(15) Dr Lake Lambert...................................................................... Director	1.0 ................. 40.0	X		0	0
(16) Dr Lance Richey...................................................................... Director	1.0 ................. 40.0	X		0	0
(17) Dr Lori White...................................................................... Director	1.0 ................. 40.0	X		0	0

(A) Name and title	(B) Average hours per week (list any hours for related organizations below dotted line)	(C) Position (do not check more than one box, unless person is both an officer and a director/trustee)	(E) Reportable compensation from related organizations (W-2/1099-MISC/1099-NEC)
(18) Dr Marco J Clark........................................................................ Director	1.0 .......................40.0	X			0	0
(19) Dr Paul Sniegowski........................................................................ Director (Start 8/5/24)	1.0 .......................40.0	X			0	0
(20) Dr Rebecca Stoltzfus........................................................................ Director	1.0 .......................40.0	X			0	0
(21) Dr Ron D Dempsey........................................................................ Director	1.0 .......................40.0	X			0	0
(22) Dr Scott E Feller........................................................................ Director	1.0 .......................40.0	X			0	0
(23) Dr Sean Huddleston........................................................................ Director	1.0 .......................40.0	X			0	0
(24) Dr Sherilyn Emberton........................................................................ Director	1.0 .......................40.0	X			0	0
(25) Dr Stacy Young........................................................................ Director	1.0 .......................40.0	X			0	0
(26) Dr Tanuja Singh........................................................................ Director	1.0 .......................40.0	X			0	0
(27) Elaine Bedel........................................................................ Director	1.0 .......................40.0	X			0	0
(28) James M Danko........................................................................ Director	1.0 .......................40.0	X			0	0
(29) John Pistole JD........................................................................ Director	1.0 .......................40.0	X			0	0
(30) Jos D Padilla JD........................................................................ Director	1.0 .......................40.0	X			0	0
(31) Kerry N Prather........................................................................ Director	1.0 .......................40.0	X			0	0
(32) Paul Perkins........................................................................ Director	1.0 .......................40.0	X			0	0
(33) Rep Brad Barrett........................................................................ Director	1.0 .......................40.0	X			0	0
(34) Rep Craig Snow........................................................................ Director	1.0 .......................40.0	X			0	0
(35) Rep Gregory Porter........................................................................ Director	1.0 .......................40.0	X			0	0
(36) Rep Phil GiaQuinta........................................................................ Director	1.0 .......................40.0	X			0	0
(37) Rev Robert A Dowd CSC........................................................................ Director	1.0 .......................40.0	X			0	0
(38) Sen Andrea Hunley........................................................................ Director	1.0 .......................40.0	X			0	0
(39) Sen Ed Charbonneau........................................................................ Director	1.0 .......................40.0	X			0	0
(40) Sen Fady Qaddoura........................................................................ Director	1.0 .......................40.0	X			0	0
(41) Sen Jeff Raatz........................................................................ Director	1.0 .......................40.0	X			0	0
(42) Sen Linda Rogers........................................................................ Director	1.0 .......................40.0	X			0	0
(43) Kevin Watson........................................................................ Chief Financial Officer	40.0 .......................0.0		X		113,968	21,733
(44) Laura Bridges........................................................................ VP and Chief Operating Officer	40.0 .......................0.0		X		166,941	27,754
(45) Jake Burns........................................................................ Director of Policy & Research	40.0 .......................0.0			X	101,242	20,444

- TIN:

SCHEDULE A
(Form 990)

Department of the Treasury
Internal Revenue Service

Public Charity Status and Public Support

Complete if the organization is a section 501(c)(3) organization or a section 4947(a)(1) nonexempt charitable trust.
right arrow

Attach to Form 990 or Form 990-EZ.
right arrow

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

2024

Open to Public
Inspection

Name of the organization

Independent Colleges of Indiana Inc

Employer identification number

31-0901001

Part I

Reason for Public Charity Status (All organizations must complete this part.) See instructions.

The organization is not a private foundation because it is: (For lines 1 through 12, check only one box.)

A church, convention of churches, or association of churches described in section 170(b)(1)(A)(i).

A school described in section 170(b)(1)(A)(ii). (Attach Schedule E (Form 990).)

A hospital or a cooperative hospital service organization described in section 170(b)(1)(A)(iii).

A medical research organization operated in conjunction with a hospital described in section 170(b)(1)(A)(iii). Enter the hospital's name, city, and state:

An organization operated for the benefit of a college or university owned or operated by a governmental unit described in section 170(b)(1)(A)(iv). (Complete Part II.)

A federal, state, or local government or governmental unit described in section 170(b)(1)(A)(v).

An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi). (Complete Part II.)

A community trust described in section 170(b)(1)(A)(vi). (Complete Part II.)

An agricultural research organization described in 170(b)(1)(A)(ix) operated in conjunction with a land-grant college or university or a non-land grant college of agriculture. See instructions. Enter the name, city, and state of the college or university:

An organization that normally receives: (1) more than 33 1/3% of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions—subject to certain exceptions, and (2) no more than 33 1/3% of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975. See section 509(a)(2). (Complete Part III.)

An organization organized and operated exclusively to test for public safety. See section 509(a)(4).

An organization organized and operated exclusively for the benefit of, to perform the functions of, or to carry out the purposes of one or more publicly supported organizations described in section 509(a)(1) or section 509(a)(2). See section 509(a)(3). Check the box on lines 12a through 12d that describes the type of supporting organization and complete lines 12e, 12f, and 12g.

Type I. A supporting organization operated, supervised, or controlled by its supported organization(s), typically by giving the supported organization(s) the power to regularly appoint or elect a majority of the directors or trustees of the supporting organization. You must complete Part IV, Sections A and B.

Type II. A supporting organization supervised or controlled in connection with its supported organization(s), by having control or management of the supporting organization vested in the same persons that control or manage the supported organization(s). You must complete Part IV, Sections A and C.

Type III functionally integrated. A supporting organization operated in connection with, and functionally integrated with, its supported organization(s) (see instructions). You must complete Part IV, Sections A, D, and E.

Type III non-functionally integrated. A supporting organization operated in connection with its supported organization(s) that is not functionally integrated. The organization generally must satisfy a distribution requirement and an attentiveness requirement (see instructions). You must complete Part IV, Sections A and D, and Part V.

Check this box if the organization received a written determination from the IRS that it is a Type I, Type II, Type III functionally integrated, or Type III non-functionally integrated supporting organization.

Enter the number of supported organizations ...............................29

Provide the following information about the supported organization(s).

(i) Name of supported organization	(ii) EIN	(iii) Type of organization (described on lines 1- 10 above (see instructions))	(iv) Is the organization listed in your governing document?		(v) Amount of monetary support (see instructions)	(vi) Amount of other support (see instructions)
(i) Name of supported organization	(ii) EIN		Yes	No	(v) Amount of monetary support (see instructions)	(vi) Amount of other support (see instructions)
(A) Anderson University	350867954	2	Yes		8,845	0
(B) Bethel College	350935587	2	Yes		8,845	0
(C) Butler University	350867977	2	Yes		8,845	0
(D) Calumet College of St Joseph	351087173	2	Yes		12,153	0
(E) Depauw University	350869045	2	Yes		8,845	0
(F) Earlham College	350868073	2	Yes		8,845	0
(G) Franklin College of Indiana	350868086	2	Yes		22,539	0
(H) Goshen College	352158366	2	Yes		27,212	0
(I) Grace College	350868095	2	Yes		8,845	0
(J) Hanover College	350868096	2	Yes		8,845	0
(K) Holy Cross College	351148835	2	Yes		8,845	0
(L) Huntington University	350868101	2	Yes		8,845	0
(M) Indiana Institute of Technology	350845258	2	Yes		8,845	0
(N) Indiana Wesleyan University	350885591	2	Yes		8,845	0
(O) Manchester University	350868127	2	Yes		8,845	0
(P) Marian University	350868175	2	Yes		54,241	0
(Q) Martin University	310970262	2	Yes		8,845	0
(R) Oakland City University	350869093	2	Yes		8,845	0
(S) Rose-Hulman Institute of Technology	350868149	2	Yes		68,802	0
(T) Saint Mary-Of-The-Woods College	351065063	2	Yes		8,845	0
(U) Saint Mary's College	350868158	2	Yes		26,697	0
(V) Taylor University	350868181	2	Yes		8,845	0
(W) Trine University	350715530	2	Yes		8,845	0
(X) University of Evansville	350868074	2	Yes		11,345	0
(Y) University of Indianapolis	350868107	2	Yes		8,845	0
(Z) University of Notre Dame	350868188	2	Yes		8,845	0
(AA) University of Saint Francis	350886846	2	Yes		8,845	0
(AB) Valparaiso University	350868125	2	Yes		8,845	0
(AC) Wabash College	350868202	2	Yes		73,863	0
Total 29					482,597	0

For Paperwork Reduction Act Notice, see the Instructions for
Form 990 or 990-EZ.

Cat. No. 11285F

Schedule A (Form 990) 2024

Page 2

Part II

Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi)
(Complete only if you checked the box on line 5, 7, or 8 of Part I or if the organization failed to qualify under Part III. If the organization failed to qualify under the tests listed below, please complete Part III.)

Section A. Public Support

Calendar year (or fiscal year beginning in)		(a) 2020	(b) 2021	(c) 2022	(d) 2023	(e) 2024	(f) Total
1	Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grant.") ..
2	Tax revenues levied for the organization's benefit and either paid to or expended on its behalf ....
3	The value of services or facilities furnished by a governmental unit to the organization without charge..
4	Total. Add lines 1 through 3
5	The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column (f) ..
6	Public support. Subtract line 5 from line 4.

Section B. Total Support

Calendar year (or fiscal year beginning in)		(a) 2020	(b) 2021	(c) 2022	(d) 2023	(e) 2024	(f) Total
7	Amounts from line 4..
8	Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources...
9	Net income from unrelated business activities, whether or not the business is regularly carried on..
10	Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.)..
11	Total support. Add lines 7 through 10

Gross receipts from related activities, etc. (see instructions) ..................

First 5 years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization, check this box and stop here ........................................ right arrow

Section C. Computation of Public Support Percentage

Public support percentage for 2024 (line 6, column (f) divided by line 11, column (f)) .........

Public support percentage for 2023 Schedule A, Part II, line 14 ...............

16a

33 1/3% support test—2024. If the organization did not check the box on line 13, and line 14 is 33 1/3% or more, check this box
and stop here. The organization qualifies as a publicly supported organization ....................... right arrow

33 1/3% support test—2023. If the organization did not check a box on line 13 or 16a, and line 15 is 33 1/3% or more, check this
box and stop here. The organization qualifies as a publicly supported organization ..................... right arrow

17a

10%-facts-and-circumstances test—2024. If the organization did not check a box on line 13, 16a, or 16b, and line 14 is 10% or more, and if the organization meets the "facts-and-circumstances" test, check this box and stop here. Explain in Part VI how the organization meets the "facts-and-circumstances" test. The organization qualifies as a publicly supported organization ............ right arrow

10%-facts-and-circumstances test—2023. If the organization did not check a box on line 13, 16a, 16b, or 17a, and line 15 is 10% or more, and if the organization meets the "facts-and-circumstances" test, check this box and stop here. Explain in Part VI how the organization meets the "facts-and-circumstances" test. The organization qualifies as a publicly supported organization ............ right arrow

Private foundation. If the organization did not check a box on line 13, 16a, 16b, 17a, or 17b, check this box and see
instructions ..................................................... right arrow

Schedule A (Form 990) 2024

Page 3

Part III

Support Schedule for Organizations Described in Section 509(a)(2)
(Complete only if you checked the box on line 10 of Part I or if the organization failed to qualify under Part II. If the organization fails to qualify under the tests listed below, please complete Part II.)

Section A. Public Support

Calendar year (or fiscal year beginning in)		(a) 2020	(b) 2021	(c) 2022	(d) 2023	(e) 2024	(f) Total
1	Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") .
2	Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose
3	Gross receipts from activities that are not an unrelated trade or business under section 513 .....
4	Tax revenues levied for the organization's benefit and either paid to or expended on its behalf...
5	The value of services or facilities furnished by a governmental unit to the organization without charge
6	Total. Add lines 1 through 5
7a	Amounts included on lines 1, 2, and 3 received from disqualified persons
b	Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year.
c	Add lines 7a and 7b..
8	Public support. (Subtract line 7c from line 6.)

Section B. Total Support

Calendar year (or fiscal year beginning in)		(a) 2020	(b) 2021	(c) 2022	(d) 2023	(e) 2024	(f) Total
9	Amounts from line 6...
10a	Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources..
b	Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975.
c	Add lines 10a and 10b.
11	Net income from unrelated business activities not included on line 10b, whether or not the business is regularly carried on.
12	Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.) ..
13	Total support. (Add lines 9, 10c, 11, and 12.)..

First 5 years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization, check this box and stop here................................................. right arrow

Section C. Computation of Public Support Percentage

Public support percentage for 2024 (line 8, column (f) divided by line 13, column (f)) .........

Public support percentage from 2023 Schedule A, Part III, line 15 ...............

Section D. Computation of Investment Income Percentage

Investment income percentage for 2024 (line 10c, column (f) divided by line 13, column (f)) ......

Investment income percentage from 2023 Schedule A, Part III, line 17 .............

19a

33 1/3% support tests-2024. If the organization did not check the box on line 14, and line 15 is more than 33 1/3%, and line 17 is not more than 33 1/3%, check this box and stop here. The organization qualifies as a publicly supported organization ....... right arrow

33 1/3 % support tests—2023. If the organization did not check a box on line 14 or line 19a, and line 16 is more than 33 1/3% and line 18 is not more than 33 1/3%, check this box and stop here. The organization qualifies as a publicly supported organization ..... right arrow

Private foundation. If the organization did not check a box on line 14, 19a, or 19b, check this box and see instructions .... right arrow

Schedule A (Form 990) 2024

Page 4

Part IV

Supporting Organizations

(Complete only if you checked a box on line 12 of Part I. If you checked box 12a, of Part I, complete Sections A and B. If you checked box 12b, of Part I, complete Sections A and C. If you checked box 12c, of Part I, complete Sections A, D, and E. If you checked box12d, of Part I, complete Sections A and D, and complete Part V.)

Section A. All Supporting Organizations

Yes

Are all of the organization’s supported organizations listed by name in the organization’s governing documents?
If "No," describe in Part VI how the supported organizations are designated. If designated by class or purpose,
describe the designation. If historic and continuing relationship, explain.

Yes

Did the organization have any supported organization that does not have an IRS determination of status under section 509(a)(1) or (2)? If "Yes," explain in Part VI how the organization determined that the supported organization was described in section 509(a)(1) or (2).

Did the organization have a supported organization described in section 501(c)(4), (5), or (6)? If "Yes," answer lines 3b and 3c below.

Did the organization confirm that each supported organization qualified under section 501(c)(4), (5), or (6) and satisfied the public support tests under section 509(a)(2)? If "Yes," describe in Part VI when and how the organization made the determination.

Did the organization ensure that all support to such organizations was used exclusively for section 170(c)(2)(B) purposes? If "Yes," explain in Part VI what controls the organization put in place to ensure such use.

Was any supported organization not organized in the United States ("foreign supported organization")? If “Yes” and if you checked box 12a or 12b in Part I, answer lines 4b and 4c below.

Did the organization have ultimate control and discretion in deciding whether to make grants to the foreign supported organization? If “Yes,” describe in Part VI how the organization had such control and discretion despite being controlled or supervised by or in connection with its supported organizations.

Did the organization support any foreign supported organization that does not have an IRS determination under sections 501(c)(3) and 509(a)(1) or (2)? If “Yes,” explain in Part VI what controls the organization used to ensure that all support to the foreign supported organization was used exclusively for section 170(c)(2)(B) purposes.

Did the organization add, substitute, or remove any supported organizations during the tax year? If “Yes,” answer lines 5b and 5c below (if applicable). Also, provide detail in Part VI, including (i) the names and EIN numbers of the supported organizations added, substituted, or removed; (ii) the reasons for each such action; (iii) the authority under the organization's organizing document authorizing such action; and (iv) how the action was accomplished (such as by amendment to the organizing document).

Type I or Type II only. Was any added or substituted supported organization part of a class already designated in the organization's organizing document?

Substitutions only. Was the substitution the result of an event beyond the organization's control?

Did the organization provide support (whether in the form of grants or the provision of services or facilities) to anyone other than (i) its supported organizations, (ii) individuals that are part of the charitable class benefited by one or more of its supported organizations, or (iii) other supporting organizations that also support or benefit one or more of the filing organization’s supported organizations? If “Yes,” provide detail in Part VI.

Did the organization provide a grant, loan, compensation, or other similar payment to a substantial contributor (defined in section 4958(c)(3)(C)), a family member of a substantial contributor, or a 35% controlled entity with regard to a substantial contributor? If “Yes,” complete Part I of Schedule L (Form 990) .

Did the organization make a loan to a disqualified person (as defined in section 4958) not described on line 7? If “Yes,” complete Part I of Schedule L (Form 990).

Was the organization controlled directly or indirectly at any time during the tax year by one or more disqualified persons, as defined in section 4946 (other than foundation managers and organizations described in section 509(a)(1) or (2))? If “Yes,” provide detail in Part VI.

Did one or more disqualified persons (as defined on line 9a) hold a controlling interest in any entity in which the supporting organization had an interest? If “Yes,” provide detail in Part VI.

Did a disqualified person (as defined on line 9a) have an ownership interest in, or derive any personal benefit from, assets in which the supporting organization also had an interest? If “Yes,” provide detail in Part VI.

10a

Was the organization subject to the excess business holdings rules of section 4943 because of section 4943(f) (regarding certain Type II supporting organizations, and all Type III non-functionally integrated supporting organizations)? If “Yes,” answer line 10b below.

10a

Did the organization have any excess business holdings in the tax year? (Use Schedule C, Form 4720, to determine whether the organization had excess business holdings).

10b

Schedule A (Form 990) 2024

Page 5

Part IV

Supporting Organizations (continued)

Yes

Has the organization accepted a gift or contribution from any of the following persons?

A person who directly or indirectly controls, either alone or together with persons described on lines 11b and 11c below, the governing body of a supported organization?

11a

A family member of a person described on 11a above?

11b

A 35% controlled entity of a person described on line 11a or 11b above? If “Yes” to 11a, 11b, or 11c, provide detail in Part VI.

11c

Section B. Type I Supporting Organizations

Yes

Did the officers, directors, trustees, or membership of one or more supported organizations have the power to regularly appoint or elect at least a majority of the organization’s directors or trustees at all times during the tax year? If “No,” describe in Part VI how the supported organization(s) effectively operated, supervised, or controlled the organization’s activities. If the organization had more than one supported organization, describe how the powers to appoint and/or remove directors or trustees were allocated among the supported organizations and what conditions or restrictions, if any, applied to such powers during the tax year.

Did the organization operate for the benefit of any supported organization other than the supported organization(s) that operated, supervised, or controlled the supporting organization? If “Yes,” explain in Part VI how providing such benefit carried out the purposes of the supported organization(s) that operated, supervised or controlled the supporting organization.

Section C. Type II Supporting Organizations

Yes

Were a majority of the organization’s directors or trustees during the tax year also a majority of the directors or trustees of each of the organization’s supported organization(s)? If “No,” describe in Part VI how control or management of the supporting organization was vested in the same persons that controlled or managed the supported organization(s).

Section D. All Type III Supporting Organizations

Yes

Did the organization provide to each of its supported organizations, by the last day of the fifth month of the organization’s tax year, (i) a written notice describing the type and amount of support provided during the prior tax year, (ii) a copy of the Form 990 that was most recently filed as of the date of notification, and (iii) copies of the organization’s governing documents in effect on the date of notification, to the extent not previously provided?

Were any of the organization’s officers, directors, or trustees either (i) appointed or elected by the supported organization(s) or (ii) serving on the governing body of a supported organization? If "No," explain in Part VI how the organization maintained a close and continuous working relationship with the supported organization(s).

By reason of the relationship described in line 2 above, did the organization’s supported organizations have a significant voice in the organization’s investment policies and in directing the use of the organization’s income or assets at all times during the tax year? If "Yes," describe in Part VI the role the organization’s supported organizations played in this regard.

Section E. Type III Functionally-Integrated Supporting Organizations

Check the box next to the method that the organization used to satisfy the Integral Part Test during the year (see instructions):

The organization satisfied the Activities Test. Complete line 2 below.

The organization is the parent of each of its supported organizations. Complete line 3 below.

The organization supported a governmental entity. Describe in Part VI how you supported a government entity (see instructions)

Activities Test. Answer lines 2a and 2b below.

Yes

Did substantially all of the organization’s activities during the tax year directly further the exempt purposes of the supported organization(s) to which the organization was responsive? If "Yes," then in Part VI identify those supported organizations and explain how these activities directly furthered their exempt purposes, how the organization was responsive to those supported organizations, and how the organization determined that these activities constituted substantially all of its activities.

Did the activities described on line 2a, above constitute activities that, but for the organization’s involvement, one or more of the organization’s supported organization(s) would have been engaged in? If "Yes," explain in Part VI the reasons for the organization’s position that its supported organization(s) would have engaged in these activities but for the organization’s involvement.

Parent of Supported Organizations. Answer lines 3a and 3b below.

Did the organization have the power to regularly appoint or elect a majority of the officers, directors, or trustees of each of the supported organizations?If "Yes" or "No", provide details in Part VI.

Did the organization exercise a substantial degree of direction over the policies, programs and activities of each of its supported organizations? If "Yes," describe in Part VI. the role played by the organization in this regard.

Schedule A (Form 990) 2024

Page 6

Part V

Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations

Check here if the organization satisfied the Integral Part Test as a qualifying trust on Nov. 20, 1970 (explain in Part VI). See instructions. All other Type III non-functionally integrated supporting organizations must complete Sections A through E.

	Section A - Adjusted Net Income		(A) Prior Year	(B) Current Year (optional)
1	Net short-term capital gain	1
2	Recoveries of prior-year distributions	2
3	Other gross income (see instructions)	3
4	Add lines 1 through 3	4
5	Depreciation and depletion	5
6	Portion of operating expenses paid or incurred for production or collection of gross income or for management, conservation, or maintenance of property held for production of income (see instructions)	6
7	Other expenses (see instructions)	7
8	Adjusted Net Income (subtract lines 5, 6 and 7 from line 4)	8

	Section B - Minimum Asset Amount		(A) Prior Year	(B) Current Year (optional)
1	Aggregate fair market value of all non-exempt-use assets (see instructions for short tax year or assets held for part of year):	1
a	Average monthly value of securities	1a
b	Average monthly cash balances	1b
c	Fair market value of other non-exempt-use assets	1c
d	Total (add lines 1a, 1b, and 1c)	1d
e	Discount claimed for blockage or other factors (explain in detail in Part VI):
2	Acquisition indebtedness applicable to non-exempt use assets	2
3	Subtract line 2 from line 1d	3
4	Cash deemed held for exempt use. Enter 0.015 of line 3 (for greater amount, see instructions).	4
5	Net value of non-exempt-use assets (subtract line 4 from line 3)	5
6	Multiply line 5 by 0.035	6
7	Recoveries of prior-year distributions	7
8	Minimum Asset Amount (add line 7 to line 6)	8

	Section C - Distributable Amount		Current Year
1	Adjusted net income for prior year (from Section A, line 8, Column A)	1
2	Enter 85% of line 1	2
3	Minimum asset amount for prior year (from Section B, line 8, Column A)	3
4	Enter greater of line 2 or line 3	4
5	Income tax imposed in prior year	5
6	Distributable Amount. Subtract line 5 from line 4, unless subject to emergency temporary reduction (see instructions)	6

Check here if the current year is the organization's first as a non-functionally-integrated Type III supporting organization (see instructions)

Schedule A (Form 990) 2024

Page 7

Part V

Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations(continued)

Section D - Distributions		Current Year
1 Amounts paid to supported organizations to accomplish exempt purposes	1
2 Amounts paid to perform activity that directly furthers exempt purposes of supported organizations, in excess of income from activity	2
3 Administrative expenses paid to accomplish exempt purposes of supported organizations	3
4 Amounts paid to acquire exempt-use assets	4
5 Qualified set-aside amounts (prior IRS approval required - provide details in Part VI)	5
6 Other distributions (describe in Part VI). See instructions	6
7Total annual distributions. Add lines 1 through 6.	7
8 Distributions to attentive supported organizations to which the organization is responsive (provide details in Part VI). See instructions	8
9 Distributable amount for 2024 from Section C, line 6	9
10 Line 8 amount divided by Line 9 amount	10

Section E - Distribution Allocations (see instructions)		(i) Excess Distributions	(ii) Underdistributions Pre-2024	(iii) Distributable Amount for 2024
1 Distributable amount for 2024 from Section C, line 6
2 Underdistributions, if any, for years prior to 2024 (reasonable cause required-- explain in Part VI). See instructions.
3 Excess distributions carryover, if any, to 2024:
a From 2019.......
b From 2020.......
c From 2021.......
d From 2022.......
e From 2023.......
fTotal of lines 3a through e
g Applied to underdistributions of prior years
h Applied to 2024 distributable amount
i Carryover from 2019 not applied (see instructions)
j Remainder. Subtract lines 3g, 3h, and 3i from line 3f.
4Distributions for 2024 from Section D, line 7:
$
a Applied to underdistributions of prior years
b Applied to 2024 distributable amount
c Remainder. Subtract lines 4a and 4b from line 4.
5 Remaining underdistributions for years prior to 2024, if any. Subtract lines 3g and 4a from line 2. If the amount is greater than zero, explain in Part VI. See instructions.
6 Remaining underdistributions for 2024. Subtract lines 3h and 4b from line 1. If the amount is greater than zero, explain in Part VI. See instructions.
7 Excess distributions carryover to 2025. Add lines 3j and 4c.
8 Breakdown of line 7:
a Excess from 2020.....
b Excess from 2021.....
c Excess from 2022.....
d Excess from 2023.....
e Excess from 2024.....

Schedule A (Form 990) (2024)

Schedule A (Form 990) 2024

Page 8

Part VI

Supplemental Information. Provide the explanations required by Part II, line 10; Part II, line 17a or 17b; Part III, line 12; Part IV, Section A, lines 1, 2, 3b, 3c, 4b, 4c, 5a, 6, 9a, 9b, 9c, 11a, 11b, and 11c; Part IV, Section B, lines 1 and 2; Part IV, Section C, line 1; Part IV, Section D, lines 2 and 3; Part IV, Section E, lines 1c, 2a, 2b, 3a and 3b; Part V, line 1; Part V, Section B, line 1e; Part V Section D, lines 5, 6, and 8; and Part V, Section E, lines 2, 5, and 6. Also complete this part for any additional information. (See instructions).

Facts And Circumstances Test

Return Reference	Explanation
Schedule A, Part IV, Section B, Line 1 Power to elect or appoint	The President of each supported organization serves as a member of the ICI Board. Collectively, the supported organizations hold a total of 29 seats on the Board.

Schedule A (Form 990) 2024

Additional Data

Software ID:	24020961
Software Version:	2024v5.1

- TIN:

Schedule B
(Form 990)
(Rev. January 2025)

Department of the Treasury
Internal Revenue Service

Schedule of Contributors

Attach to Form 990, 990-EZ, or 990-PF.

Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

Name of the organization

Independent Colleges of Indiana Inc

Employer identification number

31-0901001

Organization type (check one):

Filers of:

Section:

Form 990 or 990-EZ

501(c)( ) (enter number) organization

4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization

Form 990-PF

501(c)(3) exempt private foundation

4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation

Check if your organization is covered by the General Rule or a Special Rule.
Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.

General Rule

For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or other property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.

Special Rules

For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 33¹/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Don't complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... Right Arrow

Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).

For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.

Cat. No. 30613XSchedule B (Form 990) (Rev. 1-2025)

Schedule B (Form 990) (Rev. 1-2025) Page 2

Name of organization Independent Colleges of Indiana Inc

Part I	Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
RESTRICTED	,	$ RESTRICTED	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
Schedule B (Form 990) (Rev. 1-2025)

Schedule B (Form 990) (Rev. 1-2025)

Page 3

Name of organization Independent Colleges of Indiana Inc		Employer identification number 31-0901001

Part II	Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
Schedule B (Form 990) (Rev. 1-2025)

Schedule B (Form 990) (Rev. 1-2025)

Page 4


Name of organization Independent Colleges of Indiana Inc			Employer identification number 31-0901001
Part III Exclusively religious, charitable, etc., contributions to organizations described in section 501(c) (7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $ Use duplicate copies of Part III if additional space is needed.

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

Schedule B (Form 990) (Rev. 1-2025)

Additional Data

Software ID:	24020961
Software Version:	2024v5.1

- TIN:

SCHEDULE C
(Form 990)

Department of the Treasury
Internal Revenue Service

Political Campaign and Lobbying Activities

For Organizations Exempt From Income Tax Under section 501(c) and section 527

right arrow

Complete if the organization is described below. right arrow

Attach to Form 990 or Form 990-EZ.
right arrow

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

2024

Open to Public
Inspection

If the organization answered "Yes" on Form 990, Part IV, Line 3, or Form 990-EZ, Part V, line 46 (Political Campaign Activities), then
Round Bullet

Section 501(c)(3) organizations: Complete Parts I-A and B. Do not complete Part I-C.
Round Bullet

Section 501(c) (other than section 501(c)(3)) organizations: Complete Parts I-A and C below. Do not complete Part I-B.
Round Bullet

Section 527 organizations: Complete Part I-A only.
If the organization answered "Yes" on Form 990, Part IV, Line 4, or Form 990-EZ, Part VI, line 47 (Lobbying Activities), then
Round Bullet

Section 501(c)(3) organizations that have filed Form 5768 (election under section 501(h)): Complete Part II-A. Do not complete Part II-B.
Round Bullet

Section 501(c)(3) organizations that have NOT filed Form 5768 (election under section 501(h)): Complete Part II-B. Do not complete Part II-A.
If the organization answered "Yes" on Form 990, Part IV, Line 5 (Proxy Tax) (see separate instructions) or Form 990-EZ, Part V, line 35c (Proxy Tax) (see separate instructions), then
Round Bullet

Section 501(c)(4), (5), or (6) organizations: Complete Part III.

Name of the organization

Independent Colleges of Indiana Inc

Employer identification number

31-0901001

Part I-A

Complete if the organization is exempt under section 501(c) or is a section 527 organization.

Provide a description of the organization’s direct and indirect political campaign activities in Part IV. See instructions for definition of “political campaign activities."

Political campaign activity expenditures. See instructions .................................................................... right arrow

Volunteer hours for political campaign activities. See instructions ..................................................................

Part I-B

Complete if the organization is exempt under section 501(c)(3).

Enter the amount of any excise tax incurred by the organization under section 4955 ................................ right arrow

Enter the amount of any excise tax incurred by organization managers under section 4955 ....................... right arrow

If the organization incurred a section 4955 tax, did it file Form 4720 for this year? .........................................

Yes No

Was a correction made? ......................................................................................................................

Yes No

If "Yes," describe in Part IV.

Part I-C

Complete if the organization is exempt under section 501(c), except section 501(c)(3).

Enter the amount directly expended by the filing organization for section 527 exempt function activities ..... right arrow

Enter the amount of the filing organization's funds contributed to other organizations for section 527 exempt function activities ............................................................................................................................ right arrow

Total exempt function expenditures. Add lines 1 and 2. Enter here and on Form 1120-POL, line 17b........... right arrow

Did the filing organization file Form 1120-POL for this year? ...................................................................

Yes No

Enter the names, addresses and employer identification number (EIN) of all section 527 political organizations to which the filing
organization made payments. For each organization listed, enter the amount paid from the filing organization’s funds. Also enter the amount of political contributions received that were promptly and directly delivered to a separate political organization, such as a separate segregated fund or a political action committee (PAC). If additional space is needed, provide information in Part IV.

(a) Name	(b) Address	(c) EIN	(d) Amount paid from filing organization's funds. If none, enter -0-.	(e) Amount of political contributions received and promptly and directly delivered to a separate political organization. If none, enter -0-.
1
2
3
4
5
6

For Paperwork Reduction Act Notice, see the instructions for Form 990.

Cat. No. 50084S

Schedule C (Form 990) 2024

Page 2

Part II-A

Complete if the organization is exempt under section 501(c)(3) and filed Form 5768 (election under section 501(h)).

A Check right arrow

if the filing organization belongs to an affiliated group (and list in Part IV each affiliated group member's name, address, EIN, expenses, and share of excess lobbying expenditures).
B Check right arrow

if the filing organization checked box A and "limited control" provisions apply.

Limits on Lobbying Expenditures (The term "expenditures" means amounts paid or incurred.)		(b) Affiliated group totals
1a	Total lobbying expenditures to influence public opinion (grass roots lobbying) ......................
b	Total lobbying expenditures to influence a legislative body (direct lobbying) ........................
c	Total lobbying expenditures (add lines 1a and 1b) ............................................................
d	Other exempt purpose expenditures ...............................................................................
e	Total exempt purpose expenditures (add lines 1c and 1d) ..................................................
f	Lobbying nontaxable amount. Enter the amount from the following table in both columns.
	If the amount on line 1e, column (a) or (b) is:The lobbying nontaxable amount is:
	Not over $500,00020% of the amount on line 1e.
	Over $500,000 but not over $1,000,000$100,000 plus 15% of the excess over $500,000.
	Over $1,000,000 but not over $1,500,000$175,000 plus 10% of the excess over $1,000,000.
	Over $1,500,000 but not over $17,000,000$225,000 plus 5% of the excess over $1,500,000.
	Over $17,000,000$1,000,000.

g	Grassroots nontaxable amount (enter 25% of line 1f) .................................................
h	Subtract line 1g from line 1a. If zero or less, enter -0-. ................................................
i	Subtract line 1f from line 1c. If zero or less, enter -0-. ................................................
j	If there is an amount other than zero on either line 1h or line 1i, did the organization file Form 4720 reporting section 4911 tax for this year? ...................................................................................................................	Yes No

4-Year Averaging Period Under Section 501(h) (Some organizations that made a section 501(h) election do not have to complete all of the five columns below. See the separate instructions for lines 2a through 2f.)
Lobbying Expenditures During 4-Year Averaging Period
	Calendar year (or fiscal year beginning in)	(a) 2021	(b) 2022	(c) 2023	(d) 2024	(e) Total

2a	Lobbying nontaxable amount

b	Lobbying ceiling amount (150% of line 2a, column(e))

c	Total lobbying expenditures

d	Grassroots nontaxable amount

e	Grassroots ceiling amount (150% of line 2d, column (e))

f	Grassroots lobbying expenditures

Schedule C (Form 990) 2024

Page 3

Part II-B

Complete if the organization is exempt under section 501(c)(3) and has NOT filed Form 5768 (election under section 501(h)).

For each "Yes" response on lines 1a through 1i below, provide in Part IV a detailed description of the lobbying activity.

(a)

Yes

(b)

Amount

During the year, did the filing organization attempt to influence foreign, national, state or local legislation, including any attempt to influence public opinion on a legislative matter or referendum, through the use of:

Volunteers? ...........................................................................................................

Paid staff or management (include compensation in expenses reported on lines 1c through 1i)? ........

Yes

Media advertisements? ...................................................................................................

Mailings to members, legislators, or the public? .............................................................................

Publications, or published or broadcast statements? ...........................................................

Grants to other organizations for lobbying purposes? ..........................................................

Direct contact with legislators, their staffs, government officials, or a legislative body? .......................

Yes

66,908

Rallies, demonstrations, seminars, conventions, speeches, lectures, or any similar means? ..................

Other activities? ...................................................................................................................

Total. Add lines 1c through 1i ....................................................................................................

66,908

Did the activities in line 1 cause the organization to be not described in section 501(c)(3)? .....

If "Yes," enter the amount of any tax incurred under section 4912 ...........................................

If "Yes," enter the amount of any tax incurred by organization managers under section 4912 ...................

If the filing organization incurred a section 4912 tax, did it file Form 4720 for this year? ........................

Part III-A

Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section 501(c)(6).

Yes

Were substantially all (90% or more) dues received nondeductible by members? ...............................................

Did the organization make only in-house lobbying expenditures of $2,000 or less? ............................................

Did the organization agree to carry over lobbying and political expenditures from the prior year? .................................

Part III-B

Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section 501(c)(6) and if either (a) BOTH Part III-A, lines 1 and 2, are answered "No" OR (b) Part III-A, line 3, is answered “Yes."

Dues, assessments and similar amounts from members ......................................................................

Section 162(e) nondeductible lobbying and political expenditures (do not include amounts of political expenses for which the section 527(f) tax was paid).

Current year .............................................................................................................................

Carryover from last year ............................................................................................................

Total ...........................................................................................................................................

Aggregate amount reported in section 6033(e)(1)(A) notices of nondeductible section 162(e) dues .

If notices were sent and the amount on line 2c exceeds the amount on line 3, what portion of the excess does the organization agree to carryover to the reasonable estimate of nondeductible lobbying and political expenditure next year? ......................................................................................................................

Taxable amount of lobbying and political expenditures. See Instructions .........................................

Part IV

Supplemental Information

Provide the descriptions required for Part l-A, line 1; Part l-B, line 4; Part l-C, line 5; Part II-A (affiliated group list); Part II-A, lines 1 and 2 (see instructions), and Part ll-B, line 1. Also, complete this part for any additional information.

Return Reference	Explanation
Schedule C, Part II-B, Line 1 DETAILED DESCRIPTION OF THE LOBBYING ACTIVITY	ICI has hired Barnes and Thornburg to assist in developing effective legislative strategies, monitoring legislation relative to ICI's interests, drafting of legislation as required, and assisting with preparation of all filings to be in compliance with lobbying laws.

Schedule C (Form 990) 2024

Additional Data

Software ID:	24020961
Software Version:	2024v5.1

- TIN:

SCHEDULE D
(Form 990)

Department of the Treasury
Internal Revenue Service

Supplemental Financial Statements

Complete if the organization answered "Yes," on Form 990,
Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b.
right arrow

Attach to Form 990.
right arrow

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

Open to Public Inspection

Name of the organization

Independent Colleges of Indiana Inc

Employer identification number

31-0901001

Part I

Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" on Form 990, Part IV, line 6.

		(a) Donor advised funds	(b) Funds and other accounts
1	Total number at end of year .........
2	Aggregate value of contributions to (during year)
3	Aggregate value of grants from (during year)
4	Aggregate value at end of year ........

Did the organization inform all donors and donor advisors in writing that the assets held in donor advised funds are the organization’s property, subject to the organization’s exclusive legal control? ............

Yes No

Did the organization inform all grantees, donors, and donor advisors in writing that grant funds can be used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit? ...................................

Yes No

Part II

Conservation Easements.
Complete if the organization answered "Yes" on Form 990, Part IV, line 7.

Purpose(s) of conservation easements held by the organization (check all that apply).

Preservation of land for public use (e.g., recreation or education) Preservation of an historically important land area

Protection of natural habitat Preservation of a certified historic structure

Preservation of open space

Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.


a	Total number of conservation easements ......................	2a
b	Total acreage restricted by conservation easements ....................	2b
c	Number of conservation easements on a certified historic structure included in (a) .....	2c
d	Number of conservation easements included in (c) acquired after July 25, 2006, and not on a historic structure listed in the National Register ...	2d

Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during the
tax year right arrow

Number of states where property subject to conservation easement is located right arrow

Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and enforcement of the conservation easements it holds? ............

Yes No

Staff and volunteer hours devoted to monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
right arrow

Amount of expenses incurred in monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
right arrow

Does each conservation easement reported on line 2(d) above satisfy the requirements of section 170(h)(4)(B)(i) and section 170(h)(4)(B)(ii)? .............................

Yes No

In Part XIII, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.

Part III

Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" on Form 990, Part IV, line 8.

If the organization elected, as permitted under FASB ASC 958, not to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide, in Part XIII, the text of the footnote to its financial statements that describes these items.

If the organization elected, as permitted under FASB ASC 958, to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide the following amounts relating to these items:

(i)

Revenue included on Form 990, Part VIII, line 1 ......................... right arrow

(ii)

Assets included in Form 990, Part X ............................... right arrow

If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under FASB ASC 958 relating to these items:

Revenue included on Form 990, Part VIII, line 1 .......................... right arrow

Assets included in Form 990, Part X ............................... right arrow

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 52283D

Schedule D (Form 990) (Rev. 1-2025)

Page 2

Part III

Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)

Using the organization’s acquisition, accession, and other records, check any of the following that are a significant use of its collection items (check all that apply):

Public exhibition

Loan or exchange programs

Scholarly research

Other

Preservation for future generations

Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIII.

During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?...

Yes No

Part IV

Escrow and Custodial Arrangements. Complete if the organization answered "Yes" on Form 990, Part IV, line 9, or reported an amount on Form 990, Part X, line 21.

Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................

Yes No


b	If "Yes," explain the arrangement in Part XIII and complete the following table:		Amount
c	Beginning balance .............................	1c
d	Additions during the year ............................	1d
e	Distributions during the year ..........................	1e
f	Ending balance ................................	1f

Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial account liability? ...

Yes No

If "Yes," explain the arrangement in Part XIII. Check here if the explanation has been provided in Part XIII ....

Part V

Endowment Funds.
Complete if the organization answered "Yes" on Form 990, Part IV, line 10.

		(a) Current year	(b) Prior year	(c) Two years back	(d) Three years back	(e) Four years back

1a	Beginning of year balance ....	1,357,987	1,104,340	1,236,674	1,330,160	1,020,108
b	Contributions ...		100,000		100,000
c	Net investment earnings, gains, and losses	166,760	153,647	147,670	-193,486	310,054
d	Grants or scholarships ...
e	Other expenditures for facilities and programs ...
f	Administrative expenses ....			280,004		2
g	End of year balance ......	1,524,747	1,357,987	1,104,340	1,236,674	1,330,160

Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:

Board designated or quasi-endowment right arrow

100 %

Permanent endowment right arrow

0 %

Term endowment right arrow

0 %

The percentages on lines 2a, 2b, and 2c should equal 100%.

Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes

(i) Unrelated organizations .................

3a(i)

(ii) Related organizations .................

3a(ii)

If "Yes" on 3a(ii), are the related organizations listed as required on Schedule R? .........

Describe in Part XIII the intended uses of the organization's endowment funds.

Part VI

Land, Buildings, and Equipment.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11a. See Form 990, Part X, line 10.

Description of property		(a) Cost or other basis (investment)	(b) Cost or other basis (other)	(c) Accumulated depreciation	(d) Book value

1a	Land .....
b	Buildings ....
c	Leasehold improvements	190,045	190,045	0
d	Equipment ....	242,149	232,294	9,855
e	Other .....
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).)..				9,855

Schedule D (Form 990) (Rev. 1-2025)

Page 3

Part VII

Investments - Other Securities.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11b. See Form 990, Part X, line 12.

(a) Description of security or category (including name of security)	(b) Book value	(c) Method of valuation: Cost or end-of-year market value
(1) Financial derivatives.........
(2) Closely-held equity interests........
(3)Other
(A)
(B)
(C)
(D)
(E)
(F)
(G)
(H)
Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)

Part VIII

Investments - Program Related. Complete if the organization answered 'Yes' on Form 990, Part IV, line 11c. See Form 990, Part X, line 13.

(a) Description of investment	(b) Book value	(c) Method of valuation: Cost or end-of-year market value

(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)

Part IX

Other Assets.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11d. See Form 990, Part X, line 15.

(a) Description				(b) Book value

(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........

Part X

Other Liabilities.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11e or 11f. See Form 990, Part X, line 25.

1.(a) Description of liability	(b) Book value
(1) Federal income taxes
Federal Income Taxes
Operating Lease	69,502







Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)	69,502
2. Liability for uncertain tax positions. In Part XIII, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC 740). Check here if the text of the footnote has been provided in Part XIII

Schedule D (Form 990) (Rev. 1-2025)

Page 4

Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1	Total revenue, gains, and other support per audited financial statements .......			1	30,225,604
2	Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a	Net unrealized gains (losses) on investments ....	2a	2,289,446
b	Donated services and use of facilities .........	2b
c	Recoveries of prior year grants ...........	2c
d	Other (Describe in Part XIII.) ...........	2d	0
e	Add lines 2a through 2d .....................			2e	2,289,446
3	Subtract line 2e from line 1..................			3	27,936,158
4	Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b .	4a
b	Other (Describe in Part XIII.) ...........	4b	662,597
c	Add lines 4a and 4b....................			4c	662,597
5	Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ......			5	28,598,755

Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1	Total expenses and losses per audited financial statements ...........			1	25,789,598
2	Amounts included on line 1 but not on Form 990, Part IX, line 25:
a	Donated services and use of facilities .........	2a
b	Prior year adjustments ............	2b
c	Other losses ................	2c
d	Other (Describe in Part XIII.) ...........	2d	0
e	Add lines 2a through 2d....................			2e	0
3	Subtract line 2e from line 1...................			3	25,789,598
4	Amounts included on Form 990, Part IX, line 25, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b ..	4a
b	Other (Describe in Part XIII.) ...........	4b	662,597
c	Add lines 4a and 4b.....................			4c	662,597
5	Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ......			5	26,452,195

Part XIII

Supplemental Information

Provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b; Part V, line 4; Part X, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information.

Return Reference	Explanation
Schedule D, Part V, Line 4 Intended uses of endowment funds	The endowment fund is used to support scholarships and general operation.
Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote	Management has evaluated their income tax positions under the guidance included in ASC 740. Based on their review, management has not identified any material uncertain tax positions to be recorded or disclosed in the financial statements.
Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements	Distributed to member colleges - 482597 Membership Dues Distributed Back to Members - 180000
Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements	Distributed to member colleges - 482597 Membership Dues Distributed Back to Members - 180000

Schedule D (Form 990) (Rev. 1-2025)

Additional Data

Software ID:	24020961
Software Version:	2024v5.1

- TIN:

Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

Schedule I
(Form 990)
(Rev. January 2025)

Department of the Treasury
Internal Revenue Service

Grants and Other Assistance to Organizations,
Governments and Individuals in the United States

Complete if the organization answered "Yes," on Form 990, Part IV, line 21 or 22.
lBullet

Attach to Form 990.
lBullet

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

Open to Public
Inspection

Name of the organization
Independent Colleges of Indiana Inc

Employer identification number
31-0901001

Part I

General Information on Grants and Assistance

Does the organization maintain records to substantiate the amount of the grants or assistance, the grantees' eligibility for the grants or assistance, and
the selection criteria used to award the grants or assistance? ........................

Yes No

Describe in Part IV the organization's procedures for monitoring the use of grant funds in the United States.

Part II

Grants and Other Assistance to Domestic Organizations and Domestic Governments. Complete if the organization answered "Yes" on Form 990, Part IV, line 21, for any recipient

that received more than $5,000. Part II can be duplicated if additional space is needed.

(a) Name and address of organization or government	(b) EIN	(c) IRC section (if applicable)	(d) Amount of cash grant	(h) Purpose of grant or assistance
(1) Adams County Community Foundation Inc 102 North 2nd Street Decatur,IN46733	35-1834664	501(C) (3)	10,000	General Support
(2) Benton Community Foundation PO Box 351 Fowler,IN47944	26-0074023	501(C) (3)	10,000	General Support
(3) Blackford County Community Foundation PO Box 327 Hartford City,IN47348	35-1792844	501(C) (3)	10,000	General Support
(4) Blue River Foundation Inc 54 W Broadway Suite 1 Shelbyville,IN46176	35-1756331	501(C) (3)	10,000	General Support
(5) Brown County Community Foundation PO Box 191 Nashville,IN47448	35-1960379	501(C) (3)	10,000	General Support
(6) Cass County Community Foundation PO Box 441 Logansport,IN46947	35-2125727	501(C) (3)	10,000	General Support
(7) Central Indiana Community Foundation 615 N Alabama St 300 Indianapolis,IN46204	35-1793680	501(C) (3)	160,000	General Support
(8) Community Foundation Alliance 20 NW 3rd Street Suite 820 Evansville,IN47715	35-1830262	501(C) (3)	120,000	General Support
(9) Community Foundation of Bloomington and Monroe County Inc 100 S College Avenue Suite 240 Bloomington,IN47404	35-1811149	501(C) (3)	20,000	General Support
(10) Community Foundation of Boone County 102 N Lebanon St Suite 200 Lebanon,IN46077	35-1829585	501(C) (3)	20,000	General Support
(11) Community Foundation of Crawford County 4030 East Goodman Ridge Road Marengo,IN47145	20-0864966	501(C) (3)	10,000	General Support
(12) Community Foundation of DeKalb County PO Box 111 Auburn,IN46706	35-1992897	501(C) (3)	10,000	General Support
(13) Community Foundation of Elkhart County PO Box 2932 Elkhart,IN46515	31-1255886	501(C) (3)	30,000	General Support
(14) Community Foundation of Grant County 505 West 3rd Street Marion,IN46952	31-1117791	501(C) (3)	20,000	General Support
(15) Community Foundation of Greater Fort Wayne 555 E Wayne Street Fort Wayne,IN46802	35-1119450	501(C) (3)	50,000	General Support
(16) Community Foundation of Greater Lafayette 300 Main Street Suite 100 Lafayette,IN47901	23-7147996	501(C) (3)	40,000	General Support
(17) Community Foundation of Hancock County 971 W US 40 Greenfield,IN46140	35-1837729	501(C) (3)	20,000	General Support
(18) Community Foundation of Howard County 215 W Sycamore Street Kokomo,IN46901	35-1844891	501(C) (3)	40,000	General Support
(19) Community Foundation of Jackson County Inc PO Box 1231 Seymour,IN47274	31-1119856	501(C) (3)	10,000	General Support
(20) Community Foundation of Madison and Jefferson County Inc PO Box 306 Madison,IN47250	35-1847297	501(C) (3)	10,000	General Support
(21) Community Foundation of Morgan County Inc PO Box 1413 Martinsville,IN46158	35-1956929	501(C) (3)	20,000	General Support
(22) Community Foundation of Muncie and Delaware County PO Box 807 Muncie,IN47308	35-1640051	501(C) (3)	20,000	General Support
(23) Community Foundation of Noble County 103 W 3rdStreet PO Box 210 Ligonier,IN46767	35-1827247	501(C) (3)	10,000	General Support
(24) Community Foundation of Pulaski County Inc PO Box 407 Winamac,IN46996	35-2127564	501(C) (3)	10,000	General Support
(25) Community Foundation of Randolph County 120 West Washington Street Winchester,IN47394	35-1903148	501(C) (3)	10,000	General Support
(26) Community Foundation of Southern Indiana Inc 4108 Charlestown Road New Albany,IN47150	35-1827813	501(C) (3)	40,000	General Support
(27) Community Foundation of St Joseph County Inc PO Box 837 South Bend,IN46624	23-7365930	501(C) (3)	40,000	General Support
(28) Community Foundation of Switzerland County PO Box 46 Vevay,IN47043	35-2087649	501(C) (3)	10,000	General Support
(29) Community Foundation of Wabash County 220 East Main Street North Manchester,IN47803	35-6019016	501(C) (3)	10,000	General Support
(30) Community Foundation of Whitley County PO Box 527 Columbia City,IN46725	35-1860518	501(C) (3)	10,000	General Support
(31) Community Foundation Partnership Inc PO Box 1235 Bedford,IN47421	35-1889139	501(C) (3)	20,000	General Support
(32) Dearborn Community Foundation 322 Walnut Street Lawrenceburg,IN47025	35-2036110	501(C) (3)	20,000	General Support
(33) Decatur County Community Foundation Inc 101 E Main Street Suite 1 Greensburg,IN47240	35-1870979	501(C) (3)	10,000	General Support
(34) Dubois County Community Foundation Inc PO Box 269 Jasper,IN47547	35-1990305	501(C) (3)	10,000	General Support
(35) Fayette County Foundation 521 N Central Ave Suite A Connersville,IN47331	35-2232770	501(C) (3)	10,000	General Support
(36) Franklin County Community Foundation 527 Main Street Brookville,IN47012	35-2034336	501(C) (3)	10,000	General Support
(37) Greene County Community Foundation 4513 W State Road 54 Bloomfield,IN47424	35-1815060	501(C) (3)	10,000	General Support
(38) Harrison County Community Foundation 1523 Foundation Way Corydon,IN47112	35-1986569	501(C) (3)	10,000	General Support
(39) Hendricks County Community Foundation Inc 6319 E US Highway 36 Suite 211 Avon,IN46123	35-1878973	501(C) (3)	30,000	General Support
(40) Henry County Community Foundation Inc PO Box 6006 New Castle,IN47362	31-1170412	501(C) (3)	10,000	General Support
(41) Heritage Fund of Bartholomew County Inc 538 Franklin St Columbus,IN47202	35-2135816	501(C) (3)	20,000	General Support
(42) Huntington County Community Foundation PO Box 5037 Huntington,IN46750	35-1838709	501(C) (3)	10,000	General Support
(43) Jasper Newton Foundation Inc PO Box 295 Rensselaer,IN47978	35-1842404	501(C) (3)	20,000	General Support
(44) Jennings County Community Foundation Inc 111 North State Street North Vernon,IN47265	35-1922885	501(C) (3)	10,000	General Support
(45) Johnson County Community Foundation Inc PO Box 217 Franklin,IN46131	35-1797437	501(C) (3)	30,000	General Support
(46) Kosciusko County Community Foundation Inc 102 E Market Street Warsaw,IN46580	35-6086777	501(C) (3)	20,000	General Support
(47) LaGrange County Community Foundation Inc 0045N 250W LaGrange,IN46761	35-1834679	501(C) (3)	10,000	General Support
(48) Legacy Foundation Inc 370 E 84th Drive Suite 100 Merrillville,IN46410	35-1872803	501(C) (3)	60,000	General Support
(49) Madison County Community Foundation Inc 911 Meridian Plaza Anderson,IN46016	35-1859959	501(C) (3)	20,000	General Support
(50) Marshall County Community Foundation Inc PO Box 716 Plymouth,IN46563	35-1826870	501(C) (3)	10,000	General Support
(51) Montgomery County Community Foundation Inc PO Box 334 Crawfordsville,IN47933	35-1912317	501(C) (3)	10,000	General Support
(52) Northern Indiana Community Foundation Inc PO Box 807 Rochester,IN46975	35-1912317	501(C) (3)	30,000	General Support
(53) Ohio County Community Foundation Inc 330 Industrial Access Drive Rising Sun,IN47040	35-2038531	501(C) (3)	10,000	General Support
(54) Orange County Community Foundation 1075 Sandy Hook Road Suite 2 Paoli,IN47454	35-2117084	501(C) (3)	10,000	General Support
(55) Owen County Community Foundation Inc PO Box 503 Spencer,IN47460	35-1934464	501(C) (3)	10,000	General Support
(56) Parke County Community Foundation Inc PO Box 276 Rockville,IN47872	35-1881810	501(C) (3)	10,000	General Support
(57) Porter County Community Foundation 1401 Calumet Avenue Valparaiso,IN46383	35-2000788	501(C) (3)	30,000	General Support
(58) Putnam County Community Foundation 2 S Jackson Street Greencastle,IN46135	31-1159916	501(C) (3)	10,000	General Support
(59) Ripley County Community Foundation Inc 13 E George Street Suite B Batesville,IN47006	35-2048001	501(C) (3)	10,000	General Support
(60) Rush County Community Foundation Inc 117 N Main Street Rushville,IN46173	35-1835950	501(C) (3)	10,000	General Support
(61) Scott County Community Foundation 60 N Main St Po Box 25 Scottsburg,IN47170	35-2041369	501(C) (3)	10,000	General Support
(62) Steuben County Community Foundation Inc 1701 North Wayne Angola,IN46703	35-1857065	501(C) (3)	10,000	General Support
(63) The Portland Foundation 107 S Meridian Street Portland,IN47371	35-2019497	501(C) (3)	10,000	General Support
(64) Tipton County Foundation Inc 1020 W Jefferson Street Tipton,IN46072	35-1878973	501(C) (3)	10,000	General Support
(65) Union County Foundation Inc 404 Eaton Street Liberty,IN47353	35-1769294	501(C) (3)	10,000	General Support
(66) Unity Foundation of LaPorte County Inc 422 Franklin Street Suite C Michigan City,IN46361	35-1658674	501(C) (3)	20,000	General Support
(67) Wabash Valley Community Foundation Inc 200 South 8th Street Terre Haute,IN47803	35-6019016	501(C) (3)	40,000	General Support
(68) Warren County Community Foundation Inc 31 N Monroe Street Williamsport,IN47993	35-2070789	501(C) (3)	10,000	General Support
(69) Washington County Community Foundation Inc PO Box 50 Salem,IN47167	35-1883377	501(C) (3)	10,000	General Support
(70) Wayne County Foundation Inc 33 South 7th Street Suite 1 Richmond,IN47374	35-1046033	501(C) (3)	20,000	General Support
(71) Wells County Foundation Inc 222 W Market Street Bluffton,IN46714	35-6042815	501(C) (3)	10,000	General Support
(72) Western Indiana Community Foundation 135 South Stringtown Road PO Box 17 Covington,IN47932	35-1814927	501(C) (3)	20,000	General Support
(73) UNIVERSITY OF SAINT FRANCIS 2701 SPRING ST FORT WAYNE,IN46808	35-0886846	501(C) (3)	25,000	Ball Venture Fund 2025
(74) TRINE UNIVERSITY ONE UNIVERSITY AVE ANGOLA,IN46703	35-0715530	501(C) (3)	25,000	Ball Venture Fund 2025
(75) MARIAN UNIVERSITY 3200 COLD SPRING RD INDIANAPOLIS,IN46222	35-0868175	501(C) (3)	25,000	Ball Venture Fund 2025
(76) INDIANA INSTITUTE OF TECHNOLOGY 1600 E WASHINGTON BLVD FT WAYNE,IN46803	35-0845258	501(C) (3)	25,000	Ball Venture Fund 2025

Enter total number of section 501(c)(3) and government organizations listed in the line 1 table ................. Bullet Image

Enter total number of other organizations listed in the line 1 table ........................ . Bullet Image

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 50055P

Schedule I (Form 990) Rev. 1-2025

Page 2

Part III

Grants and Other Assistance to Domestic Individuals. Complete if the organization answered "Yes" on Form 990, Part IV, line 22.
Part III can be duplicated if additional space is needed.

(a) Type of grant or assistance	(b) Number of recipients	(c) Amount of cash grant	(d) Amount of noncash assistance	(e) Method of valuation (book, FMV, appraisal, other)	(f) Description of noncash assistance

(1) Lilly Endowment Community Scholarship Program	572	20,179,217
(2) UPS Grant	29	101,500
(3) Realizing the Dream Scholarship	58	184,643
(4) STEM Teach Indiana	277	1,048,876
(4)
(5)
(6)
(7)

Part IV

Supplemental Information. Provide the information required in Part I, line 2; Part III, column (b); and any other additional information.

Return Reference	Explanation
Schedule I, Part I SUPPLEMENTAL GRANT INFORMATION	INDEPENDENT COLLEGES OF INDIANA, INC. ADMINISTERS A GRANT FROM LILLY ENDOWMENT INC. FOR SELECTED FIRST GENERATION INDIANA COLLEGE STUDENTS, ONE FROM EACH INDEPENDENT COLLEGE CAMPUS. GRANTS OF $4,000 EACH ARE MADE TO THESE STUDENTS WHO ARE THE FIRST IN THEIR FAMILIES TO GO TO COLLEGE. ADMINISTRATIVE EXPENSES ARE ALSO PAID OUT OF THE GRANT EXPENSE. INDEPENDENT COLLEGES OF INDIANA, INC. ADMINISTERS PROGRAM FUNDS FROM VARIOUS FUNDING SOURCES FOR VARIOUS EDUCATIONAL PURPOSES. THESE FUNDS ARE ADMINISTERED ACCORDING TO SPECIFIC GUIDELINES PROVIDED BY THE FUNDING SOURCES IN THE FUNDING AGREEMENTS ASSOCIATED WITH EACH PROGRAM. THE LILLY ENDOWMENT COMMUNITY SCHOLARSHIP PROGRAM (LECSP) HELPS TO RAISE THE LEVEL OF EDUCATIONAL ATTAINMENT IN INDIANA AND TO LEVERAGE FURTHER THE ABILITY OF INDIANA'S COMMUNITY FOUNDATIONS TO ENHANCE THE QUALITY OF LIFE OF THE STATE'S RESIDENTS BY AWARDING FULL TUITION SCHOLARSHIPS TO STUDENTS FROM EACH COUNTY IN INDIANA. THESE SCHOLARSHIPS ARE AWARDED THROUGH AND ADMINISTERED BY THE NETWORK OF COMMUNITY FOUNDATIONS THROUGHOUT THE STATE.
Schedule I, Part III	Realizing the Dream Scholarship includes a recognition dinner totaling $40,643.
Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds	Grants are awarded to each community foundation. Each community foundation provides an annual report on how the grant was spent. The grants are used to administer and promote higher education in the county.

Schedule I (Form 990) Rev. 1-2025

Additional Data

Software ID:	24020961
Software Version:	2024v5.1

- TIN:

Schedule J
(Form 990)
(Rev. January 2025)

Department of the Treasury
Internal Revenue Service

Compensation Information

For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
medium right arrow graphic

Complete if the organization answered "Yes" on Form 990, Part IV, line 23.
medium right arrow graphic

Attach to Form 990.
medium right arrow graphic

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

Open to Public Inspection

Name of the organization

Independent Colleges of Indiana Inc

Employer identification number

31-0901001

Part I

Questions Regarding Compensation

Yes

Check the appropiate box(es) if the organization provided any of the following to or for a person listed on Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.

First-class or charter travel Housing allowance or residence for personal use

Travel for companions Payments for business use of personal residence

Tax idemnification and gross-up payments Health or social club dues or initiation fees

Discretionary spending account Personal services (e.g., maid, chauffeur, chef)

If any of the boxes on Line 1a are checked, did the organization follow a written policy regarding payment or reimbursement or provision of all of the expenses described above? If "No," complete Part III to explain .....

Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
directors, trustees, officers, including the CEO/Executive Director, regarding the items checked on Line 1a? ....

Indicate which, if any, of the following the filing organization used to establish the compensation of the
organization's CEO/Executive Director. Check all that apply. Do not check any boxes for methods
used by a related organization to establish compensation of the CEO/Executive Director, but explain in Part III.

Compensation committee Written employment contract

Independent compensation consultant Compensation survey or study

Form 990 of other organizations Approval by the board or compensation committee

During the year, did any person listed on Form 990, Part VII, Section A, line 1a, with respect to the filing organization or a related organization:

Receive a severance payment or change-of-control payment? .............

Participate in, or receive payment from, a supplemental nonqualified retirement plan? .........

Participate in, or receive payment from, an equity-based compensation arrangement? .........

If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.

Only 501(c)(3), 501(c)(4), and 501(c)(29) organizations must complete lines 5-9.

For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:

The organization? ....................

Any related organization? .......................

If "Yes," on line 5a or 5b, describe in Part III.

For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:

The organization? ..................

Any related organization? ......................

If "Yes," on line 6a or 6b, describe in Part III.

For persons listed on Form 990, Part VII, Section A, line 1a, did the organization provide any nonfixed
payments not described in lines 5 and 6? If "Yes," describe in Part III ............

Were any amounts reported on Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regulations section 53.4958-4(a)(3)? If "Yes," describe
in Part III ..........................

If "Yes" on line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 50053T

Schedule J (Form 990) (Rev. 1-2025)

Page 2

Part II

Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use duplicate copies if additional space is needed.

For each individual whose compensation must be reported on Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions, on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.
Note. The sum of columns (B)(i)-(iii) for each listed individual must equal the total amount of Form 990, Part VII, Section A, line 1a, applicable column (D) and (E) amounts for that individual.

(A) Name and Title		(B) Breakdown of W-2, 1099-MISC compensation, and/or 1099-NEC			(C) Retirement and other deferred compensation	(D) Nontaxable benefits	(E) Total of columns (B)(i)-(D)	(F) Compensation in column (B) reported as deferred on prior Form 990
(A) Name and Title		(i) Base compensation	(ii) Bonus & incentive compensation	(iii) Other reportable compensation	(C) Retirement and other deferred compensation	(D) Nontaxable benefits	(E) Total of columns (B)(i)-(D)
1Dr Dottie King President/Secretary	(i) (ii)	296,447 ------------- 0	0 ------------- 0	0 ------------- 0	29,645 ------------- 0	10,594 ------------- 0	336,686 ------------- 0	0 ------------- 0
2Laura Bridges VP and Chief Operating Officer	(i) (ii)	166,941 ------------- 0	0 ------------- 0	0 ------------- 0	16,694 ------------- 0	11,060 ------------- 0	194,695 ------------- 0	0 ------------- 0

Schedule J (Form 990) (Rev. 1-2025)

Page 3

Part III

Supplemental Information

Provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 4a, 4b, 4c, 5a, 5b, 6a, 6b, 7, and 8, and for Part II. Also complete this part for any additional information.

Return Reference	Explanation

Schedule J (Form 990) (Rev. 1-2025)

Additional Data

Software ID:	24020961
Software Version:	2024v5.1

- TIN:

SCHEDULE O
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service

Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

Open to Public
Inspection

Name of the organization

Independent Colleges of Indiana Inc

Employer identification number

31-0901001

Return Reference	Explanation
Form 990, Part III, Line 1 ORGANIZATION'S MISSION	THE MAIN PURPOSES AND ACTIVITIES OF ICI ARE: - TO ASSIST MEMBER INSTITUTIONS WITH INFORMATION, STAFF EXPERTISE AND OTHER APPROPRIATE RESOURCES, INCLUDING THE ADMINISTRATION OF GRANTS FOR THE COLLECTIVE BENEFIT OF MEMBERS COLLEGES; - TO PROVIDE COLLECTIVE INFORMATION ABOUT INDEPENDENT HIGHER EDUCATION IN INDIANA TO PUBLIC AND PRIVATE BODIES AS APPROPRIATE; - TO REPRESENT THE INTERESTS OF THE INDEPENDENT COLLEGE SECTOR TO THE MEDIA, THE GENERAL PUBLIC AND OTHER AUDIENCES; - TO NEGOTIATE OR PROVIDE A VARIETY OF COLLECTIVE SERVICES FOR MEMBER INSTITUTIONS IN AN EFFORT TO REALIZE EFFICIENCIES OF SCALE TO REDUCE COSTS; - TO COLLECT, ANALYZE, INTERPRET, AND PROVIDE BASIC INFORMATION ABOUT THE MEMBER COLLEGES INDIVIDUAL AND COLLECTIVELY AS AN AID IN THEIR INSTITUTIONAL PLANNING; AND - TO SOLICIT AND RECEIVE GIFTS FROM CORPORATIONS AND FOUNDATIONS, WHICH THEN ARE DISTRIBUTED AMONG THE MEMBER INSTITUTIONS FOR EDUCATIONAL PURPOSES.
Form 990, Part III, Line 4a-4c Description of program services	(Expenses $ 65,863 including grants of $ 0)(Revenue $ 18,852) Indiana Academy Program furthers the development of public service, higher education, the arts and sciences, literature, and the general culture of the state through recognition of individual leadership, achievement, and philanthropy designed to promote these ends.
Form 990, Part VI, Line 11b Review of form 990 by governing body	ICI's Board of Directors has formally delegated authority for reviewing the organization's Form 990 to the ICI Audit and Investment Committee, following preliminary review by the executive leadership team. A complete copy of the Form 990 is provided to the full Board of Directors prior to filing. In addition, ICI's external accounting firm prepares and reviews the Form 990 before it is submitted.
Form 990, Part VI, Line 12c Conflict of interest policy	The organization has adopted a conflict of interest policy requiring all directors, officers, and key employees to submit an annual conflict of interest disclosure. The annual disclosure requires these individuals to report, in writing, any known financial interests that they or their family members have in any business entity conducting business with the organization. In addition, directors, officers, and key employees must immediately disclose any potential conflicts of interest that arise midyear in connection with a proposed transaction. The conflict of interest policy further requires that any individual with a disclosed conflict be recused from the decisionmaking process, that independent directors or committee members determine whether the proposed transaction is in the best interest of the organization, and that the transaction be approved by a vote of the independent directors or committee members without participation by any interested individual.
Form 990, Part VI, Line 15a Process to establish compensation of top management official	The executive committee determines the compensation of the CEO. This committee is composed of disinterested board members, and they rely upon comparability data regarding similarly situated individuals at peer organizations when setting the proposed compensation terms. This process ensures that all compensation arrangements with related parties are evaluated and entered into at arms' length that any compensation that is paid to a related party is reasonable and reflects fair market value. The most recent compensation review was conducted in April 2025.
Form 990, Part VI, Line 15b Process to establish compensation of other employees	The compensation of all other employees is reviewed, ratified, and approved by the Executive Committee based on the CEO's recommendations. The most recent compensation reviews were conducted in 2025.
Form 990, Part VI, Line 19 Required documents available to the public	The organization makes its governing documents and financial statements available to all donors and available upon request to all other related organizations.

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 51056K

Schedule O (Form 990) (Rev. 1-2025)

Additional Data

Software ID:	24020961
Software Version:	2024v5.1

- TIN:

SCHEDULE R
(Form 990)
(Rev. January 2025)

Department of the Treasury
Internal Revenue Service

Related Organizations and Unrelated Partnerships

Complete if the organization answered "Yes" on Form 990, Part IV, line 33, 34, 35b, 36, or 37.
Attach to Form 990.
Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

Open to Public Inspection

Name of the organization

Independent Colleges of Indiana Inc

Employer identification number

31-0901001

Part I

Identification of Disregarded Entities. Complete if the organization answered "Yes" on Form 990, Part IV, line 33.

(a) Name, address, and EIN (if applicable) of disregarded entity	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Total income	(e) End-of-year assets	(f) Direct controlling entity
(1) Blue Frontier LLC 601 South Meridian Street Suite 2a Indianapolis,IN46225	Education	IN	0	0	NA

Part II

Identification of Related Tax-Exempt Organizations. Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related tax-exempt organizations during the tax year.

(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Exempt Code section	(e) Public charity status (if section 501(c)(3))	(f) Direct controlling entity	(g) Section 512(b)(13) controlled entity?
(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Exempt Code section	(e) Public charity status (if section 501(c)(3))	(f) Direct controlling entity	Yes	No
(1)Anderson University 100 E Fifth St Anderson,IN46012 35-0867954	Education	IN	501(c)(3)	2	NA		No
(2)Bethel College 1001 Bethel Circle Mishawaka,IN46545 35-0935587	Education	IN	501(c)(3)	2	NA		No
(3)Butler University 4600 Sunset Ave Indianapolis,IN46208 35-0867977	Education	IN	501(c)(3)	2	NA		No
(4)Calumet College of St Joseph 2400 New York Ave Whiting,IN46394 35-1087173	Education	IN	501(c)(3)	2	NA		No
(5)Depauw University 313 S Locust St Greencastle,IN46135 35-0869045	Education	IN	501(c)(3)	2	NA		No
(6)Earlham College 801 National Road West Richmond,IN47374 35-0868073	Education	IN	501(c)(3)	2	NA		No
(7)Franklin College of Indiana 101 Branigin Blvd Franklin,IN46131 35-0868086	Education	IN	501(c)(3)	2	NA		No
(8)Goshen College 1700 S Main St Goshen,IN46526 35-1258366	Education	IN	501(c)(3)	2	NA		No
(9)Grace College 200 Seminary Drive Winona Lake IN,IN46590 35-0868095	Education	IN	501(c)(3)	2	NA		No
(10)Hanover College 495 College Ave Hanover,IN47243 35-0868096	Education	IN	501(c)(3)	2	NA		No
(11)Holy Cross College 54515 St Road 933 PO Box Notre Dame,IN46556 35-1148835	Education	IN	501(c)(3)	2	NA		No
(12)Huntington University 2303 College Ave Huntington,IN46750 35-0868101	Education	IN	501(c)(3)	2	NA		No
(13)Indiana Institute of Technology 1600 E Washington Blvd Ft Wayne,IN46803 35-0845258	Education	IN	501(c)(3)	2	NA		No
(14)Indiana Wesleyan University 4201 S Washington St Marion,IN46953 35-0885591	Education	IN	501(c)(3)	2	NA		No
(15)Manchester University 604 E College Ave North Manchester,IN46962 35-0868127	Education	IN	501(c)(3)	2	NA		No
(16)Marian University 3200 Cold Spring Rd Indianapolis,IN46222 35-0868175	Education	IN	501(c)(3)	2	NA		No
(17)Martin University 2171 Avondale Palace PO Box 1 Indianapolis,IN46218 31-0970262	Education	IN	501(c)(3)	2	NA		No
(18)Oakland City University 138 N Lucretia St Oakland City,IN47660 35-0869093	Education	IN	501(c)(3)	2	NA		No
(19)Rose-Hulman Institute of Technology 5500 Wabash Ave Terre Haute,IN47803 35-0868149	Education	IN	501(c)(3)	2	NA		No
(20)Saint Mary-Of-The-Woods College Saint Mary-Of-The-Woods St MaryOfTheWoods,IN47876 35-1065063	Education	IN	501(c)(3)	2	NA		No
(21)Saint Mary's College Notre Dame Notre Dame,IN46556 35-0868158	Education	IN	501(c)(3)	2	NA		No
(22)Taylor University 236 West Reade Ave Upland,IN46989 35-0868181	Education	IN	501(c)(3)	2	NA		No
(23)Trine University One University Ave Angola,IN46703 35-0715530	Education	IN	501(c)(3)	2	NA		No
(24)University of Evansville 1800 Lincoln Ave Evansville,IN47722 35-0868074	Education	IN	501(c)(3)	2	NA		No
(25)University of Indianapolis 1400 E Hanna Ave Indianapolis,IN46227 35-0868107	Education	IN	501(c)(3)	2	NA		No
(26)University of Notre Dame Notre Dame Notre Dame,IN46556 35-0868188	Education	IN	501(c)(3)	2	NA		No
(27)University of Saint Francis 2701 Spring St Fort Wayne,IN46808 35-0886846	Education	IN	501(c)(3)	2	NA		No
(28)Valparaiso University 1700 Chapel Dr Valparaiso,IN46383 35-0868125	Education	IN	501(c)(3)	2	NA		No
(29)Wabash College PO Box 352 Crawfordsville,IN47933 35-0868202	Education	IN	501(c)(3)	2	NA		No

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 50135Y

Schedule R (Form 990) (Rev. 1-2025)

Page 2

Part III

Identification of Related Organizations Taxable as a Partnership. Complete if the organization answered "Yes" on Form 990, Part IV, line 34, because it had one or more related organizations treated as a partnership during the tax year.

(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Direct controlling entity	(f) Share of total income	(g) Share of end-of-year assets	(h) Disproprtionate allocations?		(i) Code V-UBI amount in box 20 of Schedule K-1 (Form 1065)	(j) General or managing partner?		(k) Percentage ownership
(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Direct controlling entity	(f) Share of total income	(g) Share of end-of-year assets	Yes	No	(i) Code V-UBI amount in box 20 of Schedule K-1 (Form 1065)	Yes	No	(k) Percentage ownership

Part IV

Identification of Related Organizations Taxable as a Corporation or Trust. Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a corporation or trust during the tax year.

(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Direct controlling entity	(e) Type of entity (C corp, S corp, or trust)	(f) Share of total income	(g) Share of end-of-year assets	(h) Percentage ownership	(i) Section 512(b)(13) controlled entity?
(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Direct controlling entity	(e) Type of entity (C corp, S corp, or trust)	(f) Share of total income	(g) Share of end-of-year assets	(h) Percentage ownership	Yes	No

Schedule R (Form 990) (Rev. 1-2025)

Page 3

Part V

Transactions With Related Organizations. Complete if the organization answered "Yes" on Form 990, Part IV, line 34, 35b, or 36.

Note. Complete line 1 if any entity is listed in Parts II, III, or IV of this schedule.

Yes

1 During the tax year, did the orgranization engage in any of the following transactions with one or more related organizations listed in Parts II-IV?

a Receipt of (i) interest, (ii) annuities, (iii) royalties, or (iv) rent from a controlled entity .....................

b Gift, grant, or capital contribution to related organization(s) ............................

Yes

c Gift, grant, or capital contribution from related organization(s) ............................

d Loans or loan guarantees to or for related organization(s) ............................

e Loans or loan guarantees by related organization(s) ............................

f Dividends from related organization(s) ............................

g Sale of assets to related organization(s) ............................

h Purchase of assets from related organization(s) ............................

i Exchange of assets with related organization(s) ............................

j Lease of facilities, equipment, or other assets to related organization(s) .......................

k Lease of facilities, equipment, or other assets from related organization(s) ......................

l Performance of services or membership or fundraising solicitations for related organization(s) .....................

Yes

m Performance of services or membership or fundraising solicitations by related organization(s) .................

n Sharing of facilities, equipment, mailing lists, or other assets with related organization(s) ...................

o Sharing of paid employees with related organization(s) ............................

p Reimbursement paid to related organization(s) for expenses ............................

q Reimbursement paid by related organization(s) for expenses ............................

r Other transfer of cash or property to related organization(s) ............................

s Other transfer of cash or property from related organization(s) ............................

If the answer to any of the above is "Yes," see the instructions for information on who must complete this line, including covered relationships and transaction thresholds.

(a) Name of related organization	(b) Transaction type (a-s)	(c) Amount involved	(d) Method of determining amount involved

Schedule R (Form 990) (Rev. 1-2025)

Page 4

Part VI

Unrelated Organizations Taxable as a Partnership. Complete if the organization answered "Yes" on Form 990, Part IV, line 37.

Provide the following information for each entity taxed as a partnership through which the organization conducted more than five percent of its activities (measured by total assets or gross revenue) that was not a related organization. See instructions regarding exclusion for certain investment partnerships.

(a) Name, address, and EIN of entity	(b) Primary activity	(c) Legal domicile (state or foreign country)	(e) Are all partners section 501(c)(3) organizations?		(f) Share of total income	(g) Share of end-of-year assets	(h) Disproprtionate allocations?		(i) Code V-UBI amount in box 20 of Schedule K-1 (Form 1065)	(j) General or managing partner?		(k) Percentage ownership
(a) Name, address, and EIN of entity	(b) Primary activity	(c) Legal domicile (state or foreign country)	Yes	No	(f) Share of total income	(g) Share of end-of-year assets	Yes	No	(i) Code V-UBI amount in box 20 of Schedule K-1 (Form 1065)	Yes	No	(k) Percentage ownership

Schedule R (Form 990) (Rev. 1-2025)

Page 5

Part VII

Supplemental Information

Provide additional information for responses to questions on Schedule R. See instructions.

Return Reference	Explanation

Schedule R (Form 990) (Rev. 1-2025)

Additional Data

Software ID:	24020961
Software Version:	2024v5.1

		Prior Year	Current Year
8	Contributions and grants (Part VIII, line 1h) .........	23,517,484	25,391,801
9	Program service revenue (Part VIII, line 2g) .........	381,194	320,093
10	Investment income (Part VIII, column (A), lines 3, 4, and 7d ) ....	2,015,195	2,886,861
11	Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e)		0
12	Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)	25,913,873	28,598,755
13	Grants and similar amounts paid (Part IX, column (A), lines 1–3 )...	22,679,231	23,043,593
14	Benefits paid to or for members (Part IX, column (A), line 4).....	458,208	662,597
15	Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10)	1,702,565	1,576,824
16a	Professional fundraising fees (Part IX, column (A), line 11e) .....		0
b	Total fundraising expenses (Part IX, column (D), line 25) 113,800
17	Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e)....	1,171,648	1,169,181
18	Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25)	26,011,652	26,452,195
19	Revenue less expenses. Subtract line 18 from line 12.......	-97,779	2,146,560
		Beginning of Current Year	End of Year
20	Total assets (Part X, line 16).............	95,063,990	99,589,312
21	Total liabilities (Part X, line 26).............	893,356	982,672
22	Net assets or fund balances. Subtract line 21 from line 20.....	94,170,634	98,606,640

Sign Here

	Signature of officer	Date

	Type or print name and title


4a	(Code: ) (Expenses $ 22,548,014 including grants of $ 21,649,218 ) (Revenue $ 0 )
	The Lilly Endowment Community Scholarship Program (LECSP) helps to raise the level of educational attainment in Indiana and to leverage further the ability of Indiana's Community Foundations to enhance the quality of life of the state's residents by awarding full-tuition scholarships to students from each county in Indiana. These scholarships are awarded through and administered by the network of community foundations throughout the state.

4b	(Code: ) (Expenses $ 1,523,754 including grants of $ 1,048,875 ) (Revenue $ 0 )
	Indiana STEM Teach is a grant from the state of IN to raise the knowledge base of STEM (science, tech, engineering, and math) teachers in the k-12 schools. ICI member campuses provide tuition free courses to further educate teachers on STEM content and instructional methods.

4c	(Code: ) (Expenses $ 1,157,282 including grants of $ 345,500 ) (Revenue $ 301,241 )
	To advance the cause of and support independent higher education in Indiana for 29 member colleges through fundraising, meetings to discuss common issues, carrying on basic research, and other incidental activities.

	(Code: ) (Expenses $ 65,863 including grants of $ 0 ) (Revenue $ 18,852 )
	Indiana Academy Program furthers the development of public service, higher education, the arts and sciences, literature, and the general culture of the state through recognition of individual leadership, achievement, and philanthropy designed to promote these ends.

4d	Other program services (Describe in Schedule O.)
	(Expenses $ 65,863 including grants of $ ) (Revenue $ 18,852 )
4e	Total program service expenses25,294,913

1b	Sub-Total..............
c	Total from continuation sheets to Part VII, Section A..
d	Total (add lines 1b and 1c).........	678,598	0	110,170

(A) Name and business address	(B) Description of services	(C) Compensation





2 Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization 0

1	Briefly describe the organization’s mission or most significant activities: Furthering independent higher education in Indiana, ICI serves as the collective voice advocating for excellence, access, and choice in higher education for all students.
2	Check this box
3	Number of voting members of the governing body (Part VI, line 1a) ........	3	42
4	Number of independent voting members of the governing body (Part VI, line 1b) .....	4	41
5	Total number of individuals employed in calendar year 2024 (Part V, line 2a) ......	5	15
6	Total number of volunteers (estimate if necessary) .............	6	0
7a	Total unrelated business revenue from Part VIII, column (C), line 12 ........	7a	0
b	Net unrelated business taxable income from Form 990-T, Part I, line 11 .........	7b	0

1a	Federated campaigns..		1a
b	Membership dues..		1b	1,310,200
c	Fundraising events..		1c
d	Related organizations		1d
e	Government grants (contributions)		1e	1,523,754

f	All other contributions, gifts, grants, and similar amounts not included above		1f	22,557,847

g	Noncash contributions included in lines 1a - 1f:$		1g

h Total. Add lines 1a-1f.......		25,391,801

		Business Code
2a	C.S.I Income	611710	257,386	257,386
b	Miscellaneous Revenue	900099	62,707	62,707
c
d
e
f	All other program service revenue.		0	0	0	0
g	Total. Add lines 2a–2f .....		320,093

3 Investment income (including dividends, interest, and othersimilar amounts) ......			2,148,620			2,148,620
4 Income from investment of tax-exempt bond proceeds
5 Royalties...........
			(i) Real	(ii) Personal
6a	Gross rents	6a
b	Less: rental expenses	6b
c	Rental income or (loss)	6c	0	0
d	Net rental income or (loss).......
			(i) Securities	(ii) Other
7a	Gross amount from sales of assets other than inventory	7a	8,778,325
b	Less: cost or other basis and sales expenses	7b	8,040,084
c	Gain or (loss)	7c	738,241	0
d	Net gain or (loss).........			738,241			738,241
8a	Gross income from fundraising events (not including $ of contributions reported on line 1c). See Part IV, line 18 ....
			8a
b	Less: direct expenses ...		8b
c	Net income or (loss) from fundraising events..
9a	Gross income from gaming activities. See Part IV, line 19 ...
			9a
b	Less: direct expenses ...		9b
c	Net income or (loss) from gaming activities..
10a	Gross sales of inventory, less returns and allowances ..
			10a
b	Less: cost of goods sold ..		10b
c	Net income or (loss) from sales of inventory..

Business Code
11a
b
c
d	All other revenue ....			0	0	0	0
e	Total. Add lines 11a–11d ......			0
12	Total revenue. See instructions.....			28,598,755	320,093	0	2,886,861

1	Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21 ....	1,570,000	1,570,000
2	Grants and other assistance to domestic individuals. See Part IV, line 22 ...........	21,473,593	21,473,593
3	Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16. .............
4	Benefits paid to or for members .......	662,597	662,597
5	Compensation of current officers, directors, trustees, and key employees ...........	531,381	305,633	203,823	21,925
6	Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) .........
7	Other salaries and wages........	744,310	428,103	285,496	30,711
8	Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) ....	95,247	54,783	36,534	3,930
9	Other employee benefits .......	124,910	71,844	47,912	5,154
10	Payroll taxes ...........	80,976	46,575	31,060	3,341
11	Fees for services (non-employees):
a	Management ......
b	Legal .........	34,854	22,392	11,216	1,246
c	Accounting ...........	54,450	34,982	17,521	1,947
d	Lobbying ...........	66,908		60,217	6,691
e	Professional fundraising services. See Part IV, line 17
f	Investment management fees ......	23,315	22,729	586
g	Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O)	187,354	111,408	68,293	7,653
12	Advertising and promotion ....	9,213	4,619	4,135	459
13	Office expenses .......	49,805	21,201	25,744	2,860
14	Information technology ......	59,837	23,708	32,516	3,613
15	Royalties ..
16	Occupancy ...........	57,413	21,657	32,180	3,576
17	Travel ............	84,275	45,802	34,626	3,847
18	Payments of travel or entertainment expenses for any federal, state, or local public officials .
19	Conferences, conventions, and meetings ....	50,014	22,338	24,908	2,768
20	Interest ...........
21	Payments to affiliates .......
22	Depreciation, depletion, and amortization ..	27,556	10,394	15,446	1,716
23	Insurance ...	22,853	8,621	12,809	1,423
24	Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule O.)
a	Other Program Expenses	374,741	286,808	79,140	8,793
b	Dues and Subscriptions	33,864	12,774	18,981	2,109
c	Miscellaneous Expense	32,729	32,352	339	38
d
e	All other expenses	0	0	0	0
25	Total functional expenses. Add lines 1 through 24e	26,452,195	25,294,913	1,043,482	113,800
26	Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here if following SOP 98-2 (ASC 958-720).

1	Cash–non-interest-bearing ........			231,165	1	0
2	Savings and temporary cash investments .........			6,778,770	2	6,388,185
3	Pledges and grants receivable, net ......				3
4	Accounts receivable, net .............				4
5	Loans and other receivables from any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .......
				0	5	0
6	Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), and persons described in section 4958(c)(3)(B) ...
				0	6	0
7	Notes and loans receivable, net ...........				7
8	Inventories for sale or use ............				8
9	Prepaid expenses and deferred charges ......			137,239	9	125,140
10a	Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D	10a	432,194
b	Less: accumulated depreciation	10b	422,339	37,411	10c	9,855
11	Investments—publicly traded securities .			87,861,147	11	92,998,130
12	Investments—other securities. See Part IV, line 11 .....			0	12
13	Investments—program-related. See Part IV, line 11 ..			0	13
14	Intangible assets ...............				14
15	Other assets. See Part IV, line 11 ...........			18,258	15	68,002
16	Total assets. Add lines 1 through 15 (must equal line 33)...			95,063,990	16	99,589,312

17	Accounts payable and accrued expenses .....	426,564	17	577,739
18	Grants payable ...		18
19	Deferred revenue .........	448,356	19	335,431
20	Tax-exempt bond liabilities .........		20
21	Escrow or custodial account liability. Complete Part IV of Schedule D		21
22	Loans and other payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .........
		0	22	0
23	Secured mortgages and notes payable to unrelated third parties ..		23
24	Unsecured notes and loans payable to unrelated third parties ..		24
25	Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17 - 24). Complete Part X of Schedule D	18,436	25	69,502
26	Total liabilities. Add lines 17 through 25..	893,356	26	982,672

	Organizations that follow FASB ASC 958, check here and complete lines 27, 28, 32, and 33.
27	Net assets without donor restrictions ..........	4,350,535	27	4,742,897
28	Net assets with donor restrictions ...........	89,820,099	28	93,863,743
	Organizations that do not follow FASB ASC 958, check here and complete lines 29 through 33.
29	Capital stock or trust principal, or current funds .....		29
30	Paid-in or capital surplus, or land, building or equipment fund ...		30
31	Retained earnings, endowment, accumulated income, or other funds		31
32	Total net assets or fund balances ...........	94,170,634	32	98,606,640
33	Total liabilities and net assets/fund balances ........	95,063,990	33	99,589,312