Independent Colleges of Indiana

What Independent Colleges of Indiana does

Independent Colleges of Indiana (ICI) is a non-profit association founded in 1948 in Indianapolis, Indiana, that represents 28 private, non-profit, regionally-accredited colleges and universities across the state. Originally established as the Associated Colleges of Indiana, it was the first cooperative statewide association of independent colleges in the nation and was reorganized under its current name in 2005 when the Independent Colleges of Indiana Foundation merged into it. The organization operates with a small staff of nine full-time professionals under the leadership of President & CEO Dr. Dottie L. King, who was appointed in August 2023.

ICI's core activities are divided into five functional areas: state and federal public policy advocacy, particularly for student financial aid; public information and research through tools like ICI GradFacts and the Economic Impact Calculator; corporate and foundation fundraising that is fully disbursed to member colleges; development of collaborative services such as group purchasing and shared services; and administration of scholarships and grants, most notably the Lilly Endowment Community Scholarship Program covering all 92 Indiana counties. The organization runs a portfolio of programs including the Lilly Endowment Community Scholarship Program, Realizing the Dream, Ball Venture Fund, CIC/UPS Scholarships, STEM Teach Indiana, Private College Week, the ICI Counselor Tour, the Indiana Academy, and the Handshake-powered Indiana Career Hub.

ICI's business model is funded primarily through membership dues from 28 private colleges, annual $10,000 contributions from approximately 10 corporate Presidents Council partners (including Design Collaborative, FORVIS MAZARS, TIAA, and UPS), and grants from Lilly Endowment Inc. and Ball Brothers Foundation that are largely pass-through to member institutions. The organization does not charge end users for services; scholarship and program funds are disbursed to member colleges rather than retained. ICI serves four primary stakeholders: the 28 member colleges and universities, students and prospective students, high school counselors, and corporate/funder partners. The organization is governed by a 45-member Board of Directors comprising designated directors (member institution presidents), elected directors, and the President/CEO as an ex-officio voting member.

Name

Independent Colleges of Indiana

Legal name

Independent Colleges of Indiana

Website

https://icindiana.org

Company type

Private

Founded year

1948

Operating status

Operating

Headcount range

1–10 employees

Short description

Independent Colleges of Indiana is a non-profit association founded in 1948 that represents 28 private, non-profit colleges and universities in Indiana, providing advocacy, scholarship administration, collaborative services, and research on behalf of its member institutions.

Ownership category

akta.pro rank

Headquarters

HQ city

Indianapolis

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Member Institution Dues: ICI receives support from its 28 member private colleges and universities through membership dues and collective fundraising activities, with all funds raised by ICI disbursed to member colleges.
2. Presidents Council Corporate Partnerships: The ICI Presidents Council is made up of organizations contributing $10,000 per year to ICI to support student scholarships at member institutions. Current members include Design Collaborative, FORVIS MAZARS, Gallagher, Goelzer Investment Management, Gregory & Appel, Inside Indiana Business, RHB, Schmidt Associates, TIAA, and UPS.
3. Corporate and Foundation Fundraising: ICI conducts corporate and foundation fundraising, with all funds raised disbursed to member colleges. Notable programs include the Realizing the Dream scholarship (funded by Lilly Endowment Inc. since 1989), Ball Venture Fund grants (administered for Ball Brothers Foundation), and CIC/UPS Scholarships.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels8 records

Core offering

Independent Colleges of Indiana is a non-profit association founded in 1948 that represents 28 private, non-profit, regionally-accredited colleges and universities in Indiana. Its core offerings are public policy advocacy on student financial aid, administration of statewide scholarship programs (Lilly Endowment Community Scholarship, Realizing the Dream, Ball Venture Fund, CIC/UPS), collaborative group-purchasing and shared services for member campuses, and research and public information about Indiana's independent higher education sector.

Product overview

Independent Colleges of Indiana (ICI) is a non-profit association representing 28 private, non-profit colleges and universities in Indiana. ICI offers a portfolio of programs and services including: advocacy for state and federal financial aid; scholarship administration (Lilly Endowment Community Scholarship Program, Realizing the Dream, Ball Venture Fund, CIC/UPS Scholarships); career services (Indiana Career Hub via Handshake); student recruitment events (Private College Week, ICI Counselor Tour); professional development (STEM Teach Indiana, ICI Leadership Academy); economic research tools (Economic Impact Calculator); and recognition programs (The Indiana Academy). These programs collectively serve member institutions, students, counselors, and policymakers across Indiana's independent higher education sector.

Differentiator

Problem solved

Functional benefit

Brands

• The Indiana Academy: Founded in 1970, The Indiana Academy promotes the advancement of Indiana by recognizing Hoosiers who have demonstrated exceptional leadership in philanthropy, business, public service, advancement of sciences, arts, literature, culture, and scholarship in connection with Indiana's independent non-profit colleges and universities.
• Lilly Endowment Community Scholarship Program (LECSP)
• ICI GradFacts
• STEM Teach Indiana
• Realizing the Dream
• Indiana Career Hub

Products and services

• Lilly Endowment Community Scholarship Program Statewide scholarship program administered by ICI on behalf of the Lilly Endowment, providing financial aid to Indiana students attending the state's private, non-profit colleges and universities.
• Realizing the Dream Scholarship ICI-administered scholarship program recognizing student achievement and providing financial support at member institutions.
• Ball Venture Fund Scholarship program administered by ICI supporting student entrepreneurship at member institutions.
• CIC/UPS Scholarships Scholarship program administered in partnership with UPS through the Council of Independent Colleges, supporting students at ICI member institutions.
• ICI GradFacts Online graduate outcomes tool providing employment, salary, and continuing-education data for graduates of Indiana's independent colleges, used by prospective students, families, and member institutions.
• Economic Impact Calculator Online data tool quantifying the economic contribution of member institutions to the Indiana economy, used for advocacy, communications, and stakeholder engagement.
• Indiana Career Hub Online career platform connecting students from Indiana's private colleges with employers and job opportunities statewide.
• Collaborative Services Initiative Group purchasing and shared back-office services program that aggregates demand across ICI's 28 member institutions to reduce per-campus operating costs.
• Private College Week Annual statewide visitation event inviting prospective high school students and families to visit Indiana's private colleges and universities.
• ICI Counselor Tour Tour program that brings high school counselors to visit Indiana's private college campuses, building counselor familiarity with the independent sector.
• The Indiana Academy Educational program administered by ICI serving Indiana students through the association's network of member institutions.
• STEM Teach Indiana ICI-administered initiative supporting STEM teacher preparation and workforce development across Indiana's private colleges.
• ICI Leadership Academy Leadership development program serving faculty and administrators at ICI member institutions.
• ICI Public Policy Advocacy Public policy advocacy service representing the 28-member independent college sector before the Indiana General Assembly, the Indiana Commission for Higher Education, and state agencies on student financial aid and regulatory issues.
• Presidents Council Corporate Partnership Program Corporate sponsorship and partnership program under which Indiana businesses support and engage with the independent college sector through ICI.

Quantifiable outcome

• Students at ICI colleges have Indiana's highest four-year, on-time graduation rates
• +6 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Partnerships

16 partnerships are on record, tiered core and minor.

• The Indiana AcademycoreStrategic or Co-development PartnerThe Indiana Academy promotes the advancement of Indiana through recognition of Hoosiers who have demonstrated exceptional leadership in philanthropy, business, public service, sciences, arts, literature, culture, and scholarship in connection with Indiana's independent non-profit colleges and universities. Founded in 1970, the Academy is maintained through Tony and Mary Fendrich Hulman Endowment Fund support.
• Indiana Commission for Higher EducationcoreStrategic or Co-development PartnerState-level partnership for higher education policy coordination and student financial aid advocacy, particularly regarding the Frank O'Bannon Grant and state scholarship programs.
• National Association of Independent Colleges & Universities (NAICU)coreStrategic or Co-development PartnerNational advocacy partnership providing resources and federal policy analysis for private, nonprofit higher education institutions.
• Council of Independent Colleges (CIC)coreStrategic or Co-development PartnerCIC provides the CIC/UPS Scholarships grant program, with ICI receiving $90,000 annually for $3,000 scholarships at each member institution supporting first-generation, low-income, minority, or new American students.
• Design CollaborativecoreGTM or Marketing PartnerArchitecture/Engineering firm, Presidents Council member contributing $10,000 annually to ICI to support student scholarships at member institutions.
• FORVIS MAZARScoreGTM or Marketing PartnerCPA & Advisory Services firm, Presidents Council member contributing $10,000 annually to ICI to support student scholarships.
• GallaghercoreGTM or Marketing PartnerInsurance company, Presidents Council member contributing $10,000 annually to ICI to support student scholarships.
• Goelzer Investment ManagementcoreGTM or Marketing PartnerInvestment Management firm, Presidents Council member contributing $10,000 annually to ICI to support student scholarships.
• Gregory & AppelcoreGTM or Marketing PartnerRisk Management firm, Presidents Council member contributing $10,000 annually to ICI to support student scholarships.
• Inside Indiana BusinessminorGTM or Marketing PartnerIndiana Business News outlet, Presidents Council member providing visibility for ICI and member institutions.
• RHBminorGTM or Marketing PartnerHigher Education Consultation firm, Presidents Council member contributing $10,000 annually to ICI.
• Schmidt AssociatesminorGTM or Marketing PartnerArchitecture firm, Presidents Council member contributing $10,000 annually to ICI.
• TIAAcoreGTM or Marketing PartnerFinancial Services firm, Presidents Council member contributing $10,000 annually and partner in ICI Multiple Employer Retirement Plan.
• UPScoreGTM or Marketing PartnerPackaging/Delivery company, Presidents Council member contributing $10,000 annually and funder of CIC/UPS Scholarships for first-generation students.
• 92 Indiana County Community FoundationscoreChannel Partner/ Reseller/ DistributorCommunity foundations in all 92 Indiana counties administer the Lilly Endowment Community Scholarship Program locally, selecting recipients and disbursing scholarships.
• HandshakecoreTechnology or IntegrationCareer platform powering the Indiana Career Hub, connecting employers with students and graduates from all ICI member institutions through a single login.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Council of Independent Colleges (CIC): National membership association for private, nonprofit colleges and universities; provides scholarships (e.g., CIC/UPS Scholarships administered through ICI), leadership programs, and federal advocacy that directly complements ICI's state-level work.
• National Association of Independent Colleges and Universities (NAICU): National advocacy organization for private nonprofit higher education; partners with ICI on federal policy and represents the sector's collective voice in Washington, mirroring ICI's state-level advocacy role.
• Independent Colleges and Universities of Texas (ICUT): Texas state-level association representing 38+ private nonprofit colleges and universities; operates with the same membership/advocacy/scholarship administration model as ICI and is one of ICI's closest structural analogs in a different geography.
• Ohio Foundation of Independent Colleges: Ohio's state-level association of independent colleges that coordinates fundraising, advocacy, and collaborative services for private nonprofit institutions — highly comparable operating model to ICI.
• Michigan Independent Colleges and Universities: Michigan's statewide association representing 24+ private nonprofit colleges and universities; provides state advocacy, scholarship administration, and shared services comparable to ICI's Indiana portfolio.
• Pennsylvania Association of Independent Colleges and Universities (PAICU): Pennsylvania's statewide voice for private nonprofit higher education; conducts advocacy, public information, and research on the independent sector — directly parallel to ICI's mission.
• Wisconsin Association of Independent Colleges and Universities (WAICU): Wisconsin association representing private nonprofit colleges; delivers advocacy, collaborative purchasing, and student programs with the same model ICI uses in Indiana.
• Association of Independent Colleges and Universities in Massachusetts (AICUM): Massachusetts statewide association of private nonprofit colleges and universities; conducts state-level advocacy and research on the private higher ed sector, structurally identical to ICI.

Broad incumbents

• Indiana Commission for Higher Education: Indiana's state government agency overseeing higher education policy, financial aid (including the Frank O'Bannon Grant ICI defends), and statewide coordination — a public-sector counterparty rather than direct competitor, but a key institutional peer in the Indiana higher-ed ecosystem.

Others

• Lilly Endowment Inc. Indianapolis-based private foundation that has funded ICI's signature scholarship programs since 1989/1998; not a peer in business model but the most consequential funding and ecosystem partner for ICI's core programming.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/ICIndiana
• Facebookfacebook.com/ICIndiana

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds1 record

Investors1 record

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M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Independent Colleges of Indiana