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Tucc INC FY2023 filing

Tax-deductible

Wilmington, DE501(c)(3)EducationEIN 84-1943979

Support the educational purposes of Taylor University.

501(c)(3) charity; gifts are tax-deductible.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

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 $3.4M a year · 92% 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
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Named funders
1
named funder · $122K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$3.4M
23% of total assets
Looks good: liabilities are 23% of assets; 50% or less.
Pt X · Ln 26
Independent board members
2
of 5 voting members
Worth a look: 2 of 5 voting members are independent, under half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$5.8M
+137% vs prior year
Spent
$13K
To programs
0%
Net assets
$11.3M
By yearFY2020–FY2025
Revenue
$5.8M
FY2023▲ +137%
Revenue by fiscal year
FY2020$3.1M
FY2021$343K
FY2022$2.5M
FY2023$5.8M
FY2024$6.5M
FY2025$4.2M
Expenses
$13K
FY2023▲ +330%
Expenses by fiscal year
FY2020$0
FY2021$5K
FY2022$3K
FY2023$13K
FY2024$530K
FY2025$1.3M
Net assets
$11.3M
FY2023▲ +95%
Net assets by fiscal year
FY2020$3.1M
FY2021$3.3M
FY2022$5.8M
FY2023$11.3M
FY2024$16.6M
FY2025$18.9M

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

Form 990 (PDF) Claim
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 Nov 2019.

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

Where the money goes

What each dollar paid for.

Management & general 100% · $13K

Form 990 Part IX, line 25. Every line is in By the numbers.

Who runs it and what they're paid

6 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
$0Pt VII · Sec A
Rex Bennett
Vice President
$0Pt VII · Sec A
Stephen Olson
Secretary & Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Mark Davis
Director
$0Pt VII · Sec A
Mike Falder
VP for University Advancement
$0Pt VII · Sec A
See Tucc INC executive salaries →

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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 15aNo

Programs and updates

Fund educational initiatives and programs at Taylor University.

Provided by the organization

This section is blank until Tucc INC claims this page.

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1 program service, described in the organization's own filed words · FY2022.
01

TUCC was created by Taylor University to serve as the corporate trustee of the Taylor University Sponsoring Organization (TUSO). Taylor University Sponsoring Organization was created by the University to accept primarily non-cash contributions.

Pt IX · col B

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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 · FY2023
TusoFY2023$122K
Total grants receivedfrom 1 funder$122K
Grants paid · 2 grants · $1.2M · 2023–2024
Taylor UniversityIN · FY2024$800,000
Taylor UniversityIN · FY2023$377,799

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$5.8M
Ln 12
Gifts and grantsLn 1h$4.9M
Investment incomeLn 3$872K
Other incomeLn 4–11$30K
Money outPt IX
$13K
Ln 25
Managementcol C$13K
Owns and owesPt X
$11.3M
net assets · Ln 32
Total assetsLn 16$14.7M
LiabilitiesLn 26$3.4M
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$4.9M
Noncash giftsLn 1g$4.7M
Investment incomeLn 3$872K
Other incomeLn 4–11$30K
Gains on assetsLn 7−$9K
Total revenueLn 12$5.8M
Assets in detailPt X, end of year
InvestmentsLn 11–13$7.7M
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$7.0M
Total assetsLn 16$14.7M
LiabilitiesLn 26$3.4M
Net assetsLn 32$11.3M
OperationsPt I, VI
EmployeesI 50
VolunteersI 62
Fiscal year endsHeaderMay
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
InvestmentsLn 11–13$2.7M$7.7M
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$9.9M$14.7M
LiabilitiesLn 26$4.2M$3.4M
Net assetsLn 32$5.8M$11.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other fees for servicesLn 11g$5$0$5$0
Other expenses (24a–d)Ln 24$13K$13K
All other expensesLn 24e$0$0$0$0
Total functional expensesLn 25$13K$0$13K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $4.2M$1.3M$2.9M$18.9M 990 PDF
FY2024 $6.5M$530K$6.0M$16.6M 990 PDF
FY2023 Viewing $5.8M$13K$5.8M$11.3M 990 PDF
FY2022 $2.5M$3K$2.5M$5.8M 990 PDF
FY2021 $343K$5K$339K$3.3M 990 PDF
FY2020 $3.1M$0$3.1M$3.1M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (4 parts)
Part VIII · Statement of revenue $5,808,639 across 7 lines filed
VIII-1f All other contributions, gifts and grants$4,906,694
VIII-1g Noncash contributions (included above)$4,700,926
VIII-1h Total contributions, gifts and grants$4,906,694
VIII-3 Investment incomeExcluded from tax $880,588$880,588
VIII-6 Net rental income or lossExcluded from tax $30,000$30,000
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$8,643−$8,643
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $901,945$5,808,639
Part IX · Statement of functional expenses $13,059 across 3 lines filed
IX-11g Other fees for servicesPrograms $0 · Management $5 · Fundraising $0$5
IX-24 Other expenses (24a–d)Management $13,054$13,054
IX-24e All other expensesPrograms $0 · Management $0 · Fundraising $0$0
IX-25 Total functional expensesPrograms $0 · Management $13,059 · Fundraising $0$13,059
Part X · Balance sheet $14,698,177 assets, 11 lines filed
X-10c Land, buildings and equipment, netStart of year $0$0
X-12 Other securitiesStart of year $2,663,898$7,653,365
X-15 Other assetsStart of year $7,267,867$7,044,812
X-16 Total assetsStart of year $9,931,765$14,698,177
X-17 Accounts payable and accrued expensesStart of year $3,555,243$2,581,029
X-25 Other liabilitiesStart of year $601,729$830,079
X-26 Total liabilitiesStart of year $4,156,972$3,411,108
X-27 Net assets without donor restrictionsStart of year $2,706,401$8,456,682
X-28 Net assets with donor restrictionsStart of year $3,068,392$2,830,387
X-32 Total net assets or fund balancesStart of year $5,774,793$11,287,069
X-33 Total liabilities and net assetsStart of year $9,931,765$14,698,177
Part XI · Reconciliation of net assets $11,287,069 net assets at year end
XI-1 Total revenue$5,808,639
XI-2 Total expenses$13,059
XI-3 Revenue less expenses$5,795,580
XI-4 Net assets at start of year$5,774,793
XI-5 Net unrealized gains (losses) on investments$537,285
XI-9 Other changes in net assets−$820,589
XI-10 Net assets at end of year$11,287,069

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

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