Texas College FY2023 filing

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To ensure that the student body experiences balanced intellectual, psychological, social and spiritual development, aimed at enabling them to become active productive members of society where they live and work.

501(c)(3) charity; gifts are tax-deductible.
62¢ of each $1 spent went to programs.
$698K 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
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $4.2M a year · 23% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
62%
of spending
Worth a look: 62% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$698K
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
7 mo
of spending, in cash
Looks good: 7.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $200K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$7.2M
12% of total assets
Looks good: liabilities are 12% of assets; 50% or less.
Pt X · Ln 26
Independent board members
20
of 20 voting members
Looks good: 20 of 20 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$17.2M
-22% vs prior year
Spent
$14.0M
To programs
62%
Net assets
$55.3M
By yearFY2020–FY2025
Revenue
$17.2M
FY2023▼ -22%
Tap a bar for its year
Revenue by fiscal year
FY2020$18.3M
FY2021$16.2M
FY2022$22.1M
FY2023$17.2M
FY2024$19.2M
FY2025$18.5M
Expenses
$14.0M
FY2023▲ +4%
Tap a bar for its year
Expenses by fiscal year
FY2020$15.9M
FY2021$11.4M
FY2022$13.5M
FY2023$14.0M
FY2024$14.8M
FY2025$16.8M
Net assets
$55.3M
FY2023▲ +7%
Tap a bar for its year
Net assets by fiscal year
FY2020$20.3M
FY2021$44.6M
FY2022$51.9M
FY2023$55.3M
FY2024$60.2M
FY2025$62.4M

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

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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 Aug 1944.

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

Where the money goes

62 cents of each dollar spent went to programs.

Program services 62% · $8.6M Management & general 37% · $5.1M Fundraising 2% · $213K

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

24 people listed on the 990; $698K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
$433,998Pt VII · Sec A
$90,000Pt VII · Sec A
VP Academic
$89,250Pt VII · Sec A
$85,000Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Dr Dwight J Fennell’s $532K as President is at the 91st percentile of top reported officer pay among 3683 $10–100M 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 · 7 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Dr Dwight J Fennell$531,618$443,264$433,998$415,255$335,743$341,243
Ms Millicent L Rickenbacker$95,000$94,583$90,000—$78,750$12,500
Mrs Cynthia Marshall-Biggins$93,000$92,333$85,000$85,000$85,000$85,000
Ms Jan Duncan$92,250$92,000$89,250$85,000$7,083—
Ms Millicent Rickenbacker———$90,000——
Ms Lisa Taylor————$60,000$80,000
Mr James Harris—————$46,500

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 Texas College 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

Fosters well-rounded student growth for active, productive lives.

Questions for Texas College

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2 programs · $8.6M · in their own filed words · FY2022
01

The college is an institution of higher learning and provides instruction, scholarships and various support services in achieving its primary purpose.

$6.0Mprogram expense
02

Auxiliary enterprises support the college's mission of providing quality educational opportunities. These services include, but are not limited to: food service, campus housing, campus post office, parking, vending,campus stores and athletics.

$2.6Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 1 funder$200K
Grants paid · 7 grants · $2.5M · 2019–2024
Unitemized GrantFY2024$527,019
Unitemized GrantFY2023$323,729
Unitemized GrantFY2022$316,634
Unitemized GrantFY2021$223,987
Unitemized GrantFY2020$121,953
Unitemized GrantFY2020$121,953
Unitemized GrantFY2019$818,240

Federal money

Single Audit · Federal Audit Clearinghouse · money spent from federal programs
Year ending Jun 2025 · $12.0M federal money spent
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$3.9M
Education Stabilization FundDepartment of Education · ALN 84.425 · Direct$2.4M
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$2.3M
Higher Education Institutional AidDepartment of Education · ALN 84.031 · Direct$1.9M
Connecting Minority Communities Pilot ProgramDepartment of Commerce · ALN 11.028 · Direct$748K

Plus 6 smaller programs.

The auditor reported 24 findings: a weakness in money controls, questioned costs.

Year ending Jun 2024 · $14.7M federal money spent
Education Stabilization FundDepartment of Education · ALN 84.425 · Direct$6.0M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$3.3M
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$2.6M
Higher Education Institutional AidDepartment of Education · ALN 84.031 · Direct$1.7M
Connecting Minority Communities Pilot ProgramDepartment of Commerce · ALN 11.028 · Direct$516K

Plus 6 smaller programs.

The auditor reported 5 findings: questioned costs.

Year ending Jun 2023 · $12.8M federal money spent
Education Stabilization FundDepartment of Education · ALN 84.425 · Direct$3.3M
Higher Education_institutional AidDepartment of Education · ALN 84.031 · Direct$3.0M
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$2.7M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$2.6M
Historic Preservation Fund Grants-In-AidDepartment of the Interior · ALN 15.904 · Direct$450K

Plus 6 smaller programs.

The auditor reported 8 findings: a weakness in money controls, questioned costs.

Year ending Jun 2022 · $16.7M federal money spent
Education Stabilization FundDepartment of Education · ALN 84.425 · Direct$7.1M
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$3.1M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$2.9M
Higher Education_institutional AidDepartment of Education · ALN 84.031 · Direct$1.5M
Paycheck Protection Loan Program (ppp)Small Business Administration · ALN 59.073 · Direct$1.2M

Plus 8 smaller programs.

The auditor reported 5 findings: a weakness in money controls.

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$17.2M
Ln 12
Fees for servicesLn 2g$9.1M
Gifts and grantsLn 1h$7.7M
Investment incomeLn 3$393K
Money outPt IX
$14.0M
Ln 25
Programscol B$8.6M
Managementcol C$5.1M
Fundraisingcol D$213K
Owns and owesPt X
$55.3M
net assets · Ln 32
Cash and savingsLn 1–2$8.6M
Total assetsLn 16$62.5M
LiabilitiesLn 26$7.2M
PeoplePt VI, VII
24
listed · VII A
PaidVII A4
Voting boardVI 1a20
IndependentVI 1b20
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$7.7M
Government grantsLn 1e$6.4M
Fees for servicesLn 2g$9.1M
Investment incomeLn 3$393K
Other incomeLn 4–11$134K
Total revenueLn 12$17.2M
Assets in detailPt X, end of year
CashLn 1$8.6M
Cash and savings togetherLn 1–2$8.6M
Pledges and grants receivableLn 3$5.0M
Accounts receivableLn 4$2.2M
Prepaid expenses and deferred chargesLn 9$103K
Land, buildings, equipmentLn 10c$38.1M
InvestmentsLn 11–13$8.4M
Other assetsLn 15$42K
Total assetsLn 16$62.5M
LiabilitiesLn 26$7.2M
Net assetsLn 32$55.3M
OperationsPt I, VI
EmployeesI 5143
VolunteersI 614
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3More from this return
EndowmentSch D · Pt V
LineFY23FY22FY21FY20FY19
End of yearLn 1g$2.8M$2.8M$2.8M$2.6M$2.4M
Given inLn 1b$22K$54K$172K$140K$106K
SpentLn 1d–1f$116K−$1.3M$1.8M$136K−$35K
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$6.8M$8.6M
InvestmentsLn 11–13$7.5M$8.4M
Land, buildings, equipmentLn 10c$36.3M$38.1M
Total assetsLn 16$58.9M$62.5M
LiabilitiesLn 26$7.0M$7.2M
Net assetsLn 32$51.9M$55.3M
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$317K$317K
Pay of current officers, directors and key staffLn 5$764K$764K
Other expenses (24a–d)Ln 24$12.1M$7.7M$4.2M$213K
All other expensesLn 24e$757K$537K$219K
Total functional expensesLn 25$14.0M$8.6M$5.1M$213K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Mar 6, 2026 $18.5M$16.8M$1.7M$62.4M 990 PDF
FY2024Filed with the IRS May 15, 2025 $19.2M$14.8M$4.4M$60.2M 990 PDF
FY2023 ViewingFiled with the IRS Nov 15, 2023 $17.2M$14.0M$3.3M$55.3M 990 PDF
FY2022Filed with the IRS Nov 9, 2022 $22.1M$13.5M$8.7M$51.9M 990 PDF
FY2021Filed with the IRS Jan 8, 2022 $16.2M$11.4M$4.8M$44.6M 990 PDF
FY2020Filed with the IRS May 14, 2021 $18.3M$15.9M$2.4M$20.3M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $17,244,694 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $8,817,766$7,653,170
I-9 Program service revenuePrior year $9,230,652$9,064,403
I-10 Investment incomePrior year $183,751$393,130
I-11 Other revenuePrior year $3,892,075$133,991
I-12 Total revenuePrior year $22,124,244$17,244,694
I-13 Grants and similar amounts paidPrior year $223,987$316,634
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $737,497$764,064
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $12,489,833$12,880,256
I-18 Total expensesPrior year $13,451,317$13,960,954
I-19 Revenue less expensesPrior year $8,672,927$3,283,740
Part VI · Governance 20 of 20 board members independent, no flags
VI-1a Voting members of the governing body20
VI-1b Independent voting members20
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 $17,244,694 across 7 lines filed
VIII-1e Government grants$6,363,431
VIII-1f All other contributions, gifts and grants$1,289,739
VIII-1h Total contributions, gifts and grants$7,653,170
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $9,064,403$9,064,403
VIII-3 Investment incomeRelated to mission $393,130$393,130
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $133,991$133,991
VIII-12 Total revenueRelated to mission $9,591,524$17,244,694
Part IX · Statement of functional expenses $13,960,954 across 4 lines filed
IX-2 Grants to domestic individualsPrograms $316,634$316,634
IX-5 Pay of current officers, directors and key staffManagement $764,064$764,064
IX-24 Other expenses (24a–d)Programs $7,747,414 · Management $4,163,246 · Fundraising $213,093$12,123,753
IX-24e All other expensesPrograms $537,297 · Management $219,206$756,503
IX-25 Total functional expensesPrograms $8,601,345 · Management $5,146,516 · Fundraising $213,093$13,960,954
Part X · Balance sheet $62,529,622 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $6,838,924$8,589,599
X-3 Pledges and grants receivableStart of year $5,010,354$5,010,354
X-4 Accounts receivableStart of year $3,140,518$2,235,181
X-9 Prepaid expenses and deferred chargesStart of year $87,250$103,416
X-10c Land, buildings and equipment, netStart of year $36,270,656$38,136,623
X-11 Publicly traded securitiesStart of year $7,430,836$8,312,578
X-12 Other securitiesStart of year $100,000$100,000
X-15 Other assetsStart of year $53,835$41,871
X-16 Total assetsStart of year $58,932,373$62,529,622
X-17 Accounts payable and accrued expensesStart of year $188,084$388,405
X-23 Secured mortgages and notes payableStart of year $6,803,404$6,812,143
X-25 Other liabilitiesStart of year $53,980$42,214
X-26 Total liabilitiesStart of year $7,045,468$7,242,762
X-27 Net assets without donor restrictionsStart of year $46,343,421$49,280,876
X-28 Net assets with donor restrictionsStart of year $5,543,484$6,005,984
X-32 Total net assets or fund balancesStart of year $51,886,905$55,286,860
X-33 Total liabilities and net assetsStart of year $58,932,373$62,529,622
Part XI · Reconciliation of net assets $55,286,860 net assets at year end
XI-1 Total revenue$17,244,694
XI-2 Total expenses$13,960,954
XI-3 Revenue less expenses$3,283,740
XI-4 Net assets at start of year$51,886,905
XI-5 Net unrealized gains (losses) on investments$116,215
XI-10 Net assets at end of year$55,286,860

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

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