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Culver Educational Foundation EIN 35-0868071

Culver Educational Foundation

EIN  35-0868071 Public charity (501(c)(3)) Culver, IN Founded 1894
Form 990 (PDF) Compare with another nonprofit →
Verified accurate 7/6/26 · see original filing: IRS
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Size
$100M+
What they do
Nurtures students' minds, spirits, and bodies for leadership and responsible citizenship through character-building programs.
Leadership
Douglas O Bird · Head of Schools · $445K
Money in and out
$140.1M revenue, $115.1M expenses
Bottom line
83% program efficiency

Nurtures students' minds, spirits, and bodies for leadership and responsible citizenship through character-building programs. For fiscal year 2024 it reported $140.1M in revenue, $115.1M in expenses, and $1.1B in net assets.Pt I

Where the money goes · FY2024
Total revenue
$140.1M
Pt VIII · Ln 12
Total expenses
$115.1M
Pt IX · Ln 25
Net assets
$1.1B
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $25.0M
Where spending went · Part IX cols B–D
Program services $0.83 Management & general $0.12 Fundraising $0.06
Program efficiency
83%
of spending reaches programs▼ -2% vs prior filing year
Operating runway
97.4mo
months of highly liquid reserves at operating expense rate▼ -6% vs prior filing year
Surplus margin
+18%
revenue over expenses, this year▼ -59% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$140.1M
FY2024▼ -22%
Expenses
$115.1M
FY2024▲ +12%
Total assets
$1.1B
FY2024▲ +4%
Total liabilities
$36.6M
FY2024▼ -52%
Total revenue
$140.1M
Pt VIII · Ln 12
Total expenses
$115.1M
Pt IX · Ln 25
Net assets
$1.1B
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$25.0M
Total assetsPt X · Ln 16$1.1B
Program-expense ratioPt IX · col B83%
Voting members of governing bodyPt I · Ln 339
Independent voting membersPt I · Ln 439
Mission & Programs · Part III

Where the work happens

3 program services account for $72.9M of program spending, described in the organization's own filed words · FY2024.
01

Culver promises top academics, competitive athletics and education you need to be a leader and a responsible global citizen in high school, in college and beyond. Culver encourages you to develop your individual interests and talents, all while helping you move beyond self-imposed limitations.

$44.8Mprogram expense
02

Culver Academies understands the financial commitment of an independent school education and focuses on maximizing our resources to provide opportunities to those families who qualify or warrant assistance. Culver offers need based financial aid assistance as well as non-need-based awards.

$17.3Mprogram expense
03

Founded in 1902, Culver Summer Schools and Camps is a fun- filled, naturally beautiful 1,800-acre setting where nearly 1,400 young people from around the world, ages 7-17, develop positive self-esteem through accomplishment and self-discipline.

$10.8Mprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CCulver Educational Foundation
EINHdr · item D35-0868071
Principal addressHdr · item CCulver, IN
WebsiteHdr · item Jwww.culver.org
Year of formationHdr · item L1894
State of legal domicileHdr · item MIN
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B250)
Ruling yearIRS BMFJul 1935

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a39
Independent voting membersPt VI · Ln 1b39
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Douglas O Bird
Head of Schools
$445,422Pt VII · Sec A
Brian R Baker
Chief Financial Officer
$206,026Pt VII · Sec A
Joshua Pretzer
Dean of Faculty
$203,988Pt VII · Sec A
Michelle Hicks
Chief Human Resources Officer
$192,174Pt VII · Sec A
Michael T Squires
Commandant of Cadets
$187,087Pt VII · Sec A
Andrew Seddelmeyer
Deputy Head of Schools
$179,649Pt VII · Sec A
Steven Pietraszek
Director of Enrollment Management, Admissions
$179,532Pt VII · Sec A
David Bonner
Director of College Advising
$145,166Pt VII · Sec A

Douglas O Bird’s $445K as Head of Schools is at the 31st percentile of top reported officer pay among 674 $100M+ 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 · 8 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
James P Power————$236,601$667,914
Douglas O Bird$445,422$405,654$374,697$335,991$330,790$257,819
Jeffry Kutch———$216,572$141,549$143,901
Holly Johnson———$167,678$209,232$215,524
Kevin Macneil————$211,102$169,110
Brian R Baker$206,026$183,407$163,315$154,244$127,944—
Joshua Pretzer$203,988$190,711$191,039$170,314$168,648$151,117
Richard J Tompos————$201,003$175,154

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.

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Statement of Revenue

Part VIII
Program service revenue$66.7M · 48%
Investment income$42.8M · 31%
Contributions & grants$26.6M · 19%
Other revenue$4.0M · 3%
Program service revenue48%$66.7M
Investment income31%$42.8M
Contributions & grants19%$26.6M
Other revenue3%$4.0M
Total revenueLn 12$140.1M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.83 Management & general $0.12 Fundraising $0.06
Program services83%$95.2M
Management & general12%$13.3M
Fundraising6%$6.6M
Total functional expensesLn 25$115.1M

Balance Sheet

Part X · end of year
CashLn 1$59.8M
Total assetsLn 16$1.1B
Total liabilitiesLn 26$36.6M
Total net assetsLn 32$1.1B
Months of cash on handcomputed6.2

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $892.9M · Operating expenses (Pt IX) $115.1M · Less non-cash grants $5.1M · Cash operating expenses/yr $110.0M
97.4 months
Where the money goes
Program services
Program services $95.2M · Total expenses $115.1M
83%
Management & General
Management & general $13.3M · Total expenses $115.1M
12%
Fundraising
Fundraising $6.6M · Total expenses $115.1M
6%
Cost to raise $1
Fundraising expense (3-yr avg) $5.6M · Solicited contributions (3-yr avg) $32.8M
$0.17 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $26.6M · Total revenue $140.1M
19%
Government reliance
Government grants — · Total revenue $140.1M
—
Earned-income share
Program service revenue $66.7M · Total revenue $140.1M
48%
Investment reliance
Investment income $42.8M · Total revenue $140.1M
+31%
Program self-sufficiency
Program service revenue $66.7M · Total expenses $115.1M
58%
Growth & trend
Revenue growth (YoY)
This year $140.1M · Prior year $180.4M
-22%
Revenue CAGR
FY2019 $82.8M · FY2024 $140.1M
+11%
Net-asset trend (YoY)
End of year $1.1B · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $140.1M · Expenses $115.1M
+18%
Liabilities-to-Assets
Total liabilities — · Total assets $1.1B
—
Net-asset ratio
Net assets $1.1B · Total assets $1.1B
97%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $428.4M · Other securities (Pt X, ln 12) $404.7M · Total assets (Pt X, ln 16) $1.1B
76%
People & payroll
Highest Reported Total Compensation
Individual Douglas O Bird · Reported title Head of Schools · Highest reported compensation $445K · Total expenses $115.1M
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $55.8M · Total expenses $115.1M
49%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 83%——
Overhead ratio 12%——
Fundraising cost ratio 25%——
Revenue growth -22%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2025
The Ayco Charitable FoundationFY2025$312K
Ross Beason Residuary Tr 01-64118FY2025$129K
James G Stewart JR 783-254-600 UwFY2025$33K
Everett & Doris Bernardo Family FoundationFY2025$20K
Total grants receivedfrom 4 funders$494K
See all 4 funders →
Grants paid · 11 grants · $98.4M · 2019–2024
Unitemized GrantFY2024$17,260,441
Lowenstine Fund CorporationIN · FY2024$1,600,000
Unitemized GrantFY2023$16,301,931
Lowenstine Fund CorporationIN · FY2023$1,600,000
Unitemized GrantFY2022$15,087,350
Lowenstine Fund CorporationIN · FY2022$1,600,000
Unitemized GrantFY2021$14,281,802
Lowenstine Fund CorporationIN · FY2021$1,600,000
Unitemized GrantFY2020$13,881,131
Lowenstine Fund CorporationIN · FY2020$1,289,500
Unitemized GrantFY2019$13,854,033

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$180.4M revenue · ⤓ 990 PDF
FY2023$96.4M revenue · ⤓ 990 PDF
FY2022$229.1M revenue · ⤓ 990 PDF
FY2021$284.2M revenue · ⤓ 990 PDF
FY2020$82.8M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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