Acimco FY2023 filing

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Acimco supports acu by providing investment management services for some of the assets held by acu.

Form 990 Part I, line 1, FY2023. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 26-3598377) · Dispute this line
501(c)(3) charity; gifts are tax-deductible.
90¢ of each $1 spent went to programs.
$1.5M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
The IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
The latest return is for FY2025, 1 tax year back.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average surplus $341 a year · 0.02% of revenue · last 6 filings
A surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
90%
of spending
90% of spending went to programs.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.5M
to officers and key staff · 56% of spending
Pay to officers and key staff is 56% of spending.
Part VII, Section A
2.8 mo
of spending, in cash
2.8 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Liabilities are 0% of assets.
Pt X · Ln 26
Independent board members
12
of 13 voting members
12 of 13 voting members are independent.
Pt VI · Ln 1a–1b
Revenue
$1.9M
-28% vs prior year
Spent
$2.6M
To programs
90%
Net assets
$602K
By yearFY2020–FY2025
Revenue
$1.9M
FY2023▼ -28%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.7M
FY2021$1.7M
FY2022$2.7M
FY2023$1.9M
FY2024$2.1M
FY2025$2.2M
Expenses
$2.6M
FY2023▲ +31%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.7M
FY2021$1.7M
FY2022$2.0M
FY2023$2.6M
FY2024$2.1M
FY2025$2.2M
Net assets
$602K
FY2023▼ -53%
Tap a bar for its year
Net assets by fiscal year
FY2020$600K
FY2021$601K
FY2022$1.3M
FY2023$602K
FY2024$601K
FY2025$600K

From the FY2023 Form 990 (year ending May 2023) · figures checked against the IRS filing · see the original

You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 2009.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

90 cents of each dollar spent went to programs.

Program services 90% · $2.3M Management & general 10% · $266K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

19 people listed on the 990; $1.5M paid to officers and key staff (Part VII, Section A).

Part VII, Section A · reportable compensation
Former President/CIO
$591,687Pt VII · Sec A
Former SR VP/COO
$291,275Pt VII · Sec A
President/CIO
$158,501Pt VII · Sec A
VP for Real Estate Develop
$143,256Pt VII · Sec A
$138,575Pt VII · Sec A
VP & Secretary
$137,739Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Joe Lee’s $506K as President/CIO is at the 99th percentile of top reported officer pay among 3394 $1–10M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 6 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Jack Rich—$540,148$591,687$480,147$477,634$407,076
Joe Lee$505,623$486,218$158,501———
Kent Rideout——$291,275$223,310$220,996$213,307
Kelly Young$211,657$162,244$143,256$121,408$121,408$144,763
Yancey House$187,797$168,249$137,739———
Amy Justice$168,757$143,114$138,575$120,671$105,005$102,260

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Acimco executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Manages investments for specific assets held by ACU.

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1 program · $2.3M · in their own filed words · FY2022
01

Supported abilene christian university and other church of christ entities by providing investment management services for the endowment funds and other fiduciary assets held by acu.

Form 990 Part III, line 4, FY2022. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 26-3598377) · Dispute this line
$2.3Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 4 grants · $236K · 2019–2022
Abilene Christian UniversityTX · FY2022$10,750
Abilene Christian UniversityTX · FY2021$75,000
Abilene Christian UniversityTX · FY2020$75,000
Abilene Christian UniversityTX · FY2019$75,000

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$1.9M
Ln 12
Fees for servicesLn 2g$1.9M
Money outPt IX
$2.6M
Ln 25
Programscol B$2.3M
Managementcol C$266K
Owns and owesPt X
$602K
net assets · Ln 32
Cash and savingsLn 1–2$602K
Total assetsLn 16$602K
LiabilitiesLn 26$0
PeoplePt VI, VII
19
listed · VII A
PaidVII A6
Voting boardVI 1a13
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.9M
Total revenueLn 12$1.9M
Assets in detailPt X, end of year
CashLn 1$602K
Cash and savings togetherLn 1–2$602K
Total assetsLn 16$602K
LiabilitiesLn 26$0
Net assetsLn 32$602K
OperationsPt I, VI
EmployeesI 58
VolunteersI 60
Fiscal year endsHeaderMay
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$1.3M$602K
Total assetsLn 16$1.3M$602K
LiabilitiesLn 26$0$0
Net assetsLn 32$1.3M$602K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$11K$11K
Pay of officers and key staff (Part IX, line 5)Ln 5$1.4M$1.2M$137K
Other salaries and wagesLn 7$578K$519K$59K
Pension plan contributionsLn 8$41K$37K$4K
Other employee benefitsLn 9$111K$100K$11K
Payroll taxesLn 10$137K$123K$14K
Management feesLn 11a$122K$122K
Legal feesLn 11b$24K$24K
Other fees for servicesLn 11g$12K$12K
Office expensesLn 13$10K$5K$5K
Information technologyLn 14$121K$84K$36K
TravelLn 17$57K$57K
Conferences, conventions and meetingsLn 19$4K$4K
Other expenses (24a–d)Ln 24$13K$13K
All other expensesLn 24e$2K$2K
Total functional expensesLn 25$2.6M$2.3M$266K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Feb 10, 2026 $2.2M$2.2M−$932$600K 990 PDF
FY2024Filed with the IRS Feb 20, 2025 $2.1M$2.1M−$834$601K 990 PDF
FY2023 ViewingFiled with the IRS Feb 16, 2024 $1.9M$2.6M−$685K$602K 990 PDF
FY2022Filed with the IRS Feb 24, 2023 $2.7M$2.0M$686K$1.3M 990 PDF
FY2021Filed with the IRS Feb 2, 2022 $1.7M$1.7M$945$601K 990 PDF
FY2020Filed with the IRS Jan 27, 2021 $1.7M$1.7M$1K$600K 990 PDF

Schedules filed Part IV

A · Public support I · Grants J · Pay O · Explanations
See the full FY2023 990
Part I · Summary $1,922,413 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $2,678,423$1,922,413
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $2,678,423$1,922,413
I-13 Grants and similar amounts paidPrior year $75,000$10,750
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $1,626,711$2,232,370
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $290,518$364,090
I-18 Total expensesPrior year $1,992,229$2,607,210
I-19 Revenue less expensesPrior year $686,194−$684,797
Part VI · Governance 12 of 13 board members independent, no flags
VI-1a Voting members of the governing body13
VI-1b Independent voting members12
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,922,413 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,922,413$1,922,413
VIII-12 Total revenueRelated to mission $1,922,413 · Unrelated business $0 · Excluded from tax $0$1,922,413
Part IX · Statement of functional expenses $2,607,210 across 15 lines filed
IX-1 Grants to domestic organizationsPrograms $10,750$10,750
IX-5 Pay of officers and key staff (Part IX, line 5)Programs $1,228,935 · Management $136,548$1,365,483
IX-7 Other salaries and wagesPrograms $518,696 · Management $58,956$577,652
IX-8 Pension plan contributionsPrograms $37,016 · Management $4,113$41,129
IX-9 Other employee benefitsPrograms $100,191 · Management $11,132$111,323
IX-10 Payroll taxesPrograms $123,105 · Management $13,678$136,783
IX-11a Management feesPrograms $122,236$122,236
IX-11b Legal feesPrograms $23,711$23,711
IX-11g Other fees for servicesPrograms $11,845$11,845
IX-13 Office expensesPrograms $5,150 · Management $5,150$10,300
IX-14 Information technologyPrograms $84,469 · Management $36,201$120,670
IX-17 TravelPrograms $57,202$57,202
IX-19 Conferences, conventions and meetingsPrograms $3,835$3,835
IX-24 Other expenses (24a–d)Programs $12,726$12,726
IX-24e All other expensesPrograms $1,565$1,565
IX-25 Total functional expensesPrograms $2,341,432 · Management $265,778 · Fundraising $0$2,607,210
Part X · Balance sheet $602,060 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $1,286,859$602,060
X-16 Total assetsStart of year $1,286,859$602,060
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $1,286,859$602,060
X-32 Total net assets or fund balancesStart of year $1,286,859$602,060
X-33 Total liabilities and net assetsStart of year $1,286,859$602,060
Part XI · Reconciliation of net assets $602,060 net assets at year end
XI-1 Total revenue$1,922,413
XI-2 Total expenses$2,607,210
XI-3 Revenue less expenses−$684,797
XI-4 Net assets at start of year$1,286,859
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$602,060

Form 990 e-file FY2023 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File

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