Public Charity

INDEPENDENT COLLEGE FUND OF MARYLAND INC

INDEPENDENT COLLEGE FUND OF MARYLAND INC, of ANNAPOLIS, MD, is a Public Charity tracked in Imperigo's IRS 990 database. The 2025 filing shows $146K in revenue, $159K in expenses, $395K in total assets. 18 publicly reported grants to this organization, totaling roughly $503K, appear in IRS filings.

EIN: 520692469 ANNAPOLIS, MD Latest filing: 2025
Total Revenue$146K
Total Expenses$159K
Total Assets$395K
Grant Records18
Funding Total$503K
Filing Years2020–2025

Mission

THE MISSION OF THE I-FUND IS TO PROVIDE COLLEGE ACCESS, CHOICE AND OPPORTUNITIES BY RAISING FUNDS, PRINCIPALLY FROM BUSINESSES AND FOUNDATIONS, TO PROVIDE SCHOLARSHIPS AND GRANTS TO STUDENTS ATTENDING I-FUND MEMBER INSTITUTIONS. THE I-FUND STRIVES TO EXPAND EDUCATIONAL OPPORTUNITIES TO DIVERSIFY LEADERSHIP IN THE CIVIC, CORPORATE, AND POLITICAL COMMUNITIES; TO STRENGTHEN THE DEMOCRATIC PROCESS BY PREPARING PEOPLE TO REASON AND DISCERN TRUTH; AND TO ENRICH THE LEARNING ENVIRONMENT BY PROVIDING SUPPORT FOR NEW PROGRAMS, TECHNOLOGIES AND OTHER RESOURCES. THE I-FUND'S PROGRAMS INCLUDE UNRESTRICTED SUPPORT, A POOLED SCHOLARSHIP FUND, NAMED SCHOLARSHIPS, AND DESIGNATED SCHOLARSHIPS.

Officers & Directors

SECRETARY Bradford Sims
MANAGING DIRECTOR Matthew Power
TREASURER Mike Sosulski
PRESIDENT Nora Demleitner

Officer compensation and complete director data available with membership.

Top Grant Purposes

UPS SCHOLARSHIPS
$138,600 4 grants
GENERAL SUPPORT AND VARIOUS PROJECTS
$99,914 7 grants
GRANTS TO STATE COUNCILS
$90,449 2 grants
MULTIPLE PROGRAMS
$76,000 2 grants
GRANT TO STATE COUNCILS
$38,400 1 grant

Financial Trends

Year Revenue Expenses Assets
2025 $146K $159K $395K
2024 $138K $170K $383K
2023 $189K $168K $409K
2021 $321K $313K $499K
2020 $300K $258K $424K

Between 2020 and 2025, reported annual revenue declined from $300K to $146K (-52%), with total assets most recently reported at $395K.

Interactive year-over-year charts and full filing details available with membership.

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