The Westfield State Foundation Inc
- Assets
- $18.2m
- Revenue
- $4.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Westfield, MA
- Founding
- 12/1980
- Data as of
- 06/2021
- EIN
- 04-2701694
Organization Overview
The Westfield State Foundation Inc is located in Westfield, MA. The organization was established in 1980. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Westfield State Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Westfield State Foundation Inc generated $4.2m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.1% each year . All expenses for the organization totaled $848.1k during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT WESTFIELD STATE UNIVERSITY THROUGH ACTIVE FUNDRAISING AND ADVOCACY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STUDENT SCHOLARSHIPS- SCHOLARSHIPS GIVEN TO OVER 260 WESTFIELD STATE UNIVERSITY STUDENTS FOR FALL AND SPRING SEMESTERS.
ON-BEHALF PAYMENTS TO WESTFIELD STATE UNIVERSITY AND GRANTS TO VARIOUS DEPARTMENTS FOR ACADEMIC PROJECTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrew T Oleksak Past Chair | OfficerTrustee | 1 | $0 |
Elizabeth Scheibel Chair | OfficerTrustee | 1 | $0 |
James Krupienski Treasurer | OfficerTrustee | 1 | $0 |
John Davies Clerk | OfficerTrustee | 1 | $0 |
George Flevotomos Vice Chair | OfficerTrustee | 1 | $0 |
Erica Broman Executive Director | OfficerTrustee | 9 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $78,571 |
| Related organizations | $0 |
| Government grants | $207,717 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,612,266 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,898,554 |
| Total Program Service Revenue | $0 |
| Investment income | $111,818 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $62,507 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $182,373 |
| Net Income from Fundraising Events | -$28,639 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,228,113 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $501,863 |
| Grants and other assistance to domestic individuals. | $249,248 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $25,175 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $24,560 |
| Fees for services: Other | $0 |
| Advertising and promotion | $6,000 |
| Office expenses | $5,704 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,755 |
| Insurance | $5,921 |
| All other expenses | $2,095 |
| Total functional expenses | $848,108 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $985,688 |
| Savings and temporary cash investments | $13,763 |
| Pledges and grants receivable | $188,922 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,470 |
| Net Land, buildings, and equipment | $417,176 |
| Investments—publicly traded securities | $16,607,203 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $18,215,222 |
| Accounts payable and accrued expenses | $2,118 |
| Grants payable | $0 |
| Deferred revenue | $12,660 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $261,762 |
| Total liabilities | $276,540 |
| Net assets without donor restrictions | $456,146 |
| Net assets with donor restrictions | $17,482,536 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $18,215,222 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that The Westfield State Foundation Inc has recieved totaling $53,065.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Western Massachusetts Springfield, MA PURPOSE: EDUCATION | $27,500 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $25,430 |
Pfizer Foundation Inc New York, NY PURPOSE: MATCHING GIFTS | $100 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $35 |
Endowment Analysis
| Beg. Balance | $7,761,884 |
| Earnings | $2,667,792 |
| Net Contributions | $3,093,484 |
| Other Expense | $309,483 |
| Ending Balance | $13,213,677 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Manhattanville College Purchase, NY | $105,528,873 | $90,666,523 |
Gordon College Wenham, MA | $215,426,952 | $107,400,748 |
Franklin Pierce University Rindge, NH | $94,215,029 | $91,004,046 |
Lasell University Newton, MA | $146,552,524 | $85,290,352 |
Daemen College Amherst, NY | $83,009,537 | $88,907,221 |
Marymount Manhattan College New York, NY | $133,739,534 | $102,629,216 |
Hartwick College Oneonta, NY | $142,667,541 | $76,206,626 |
New England College Henniker, NH | $96,223,111 | $84,142,963 |
Excelsior College Albany, NY | $78,995,635 | $78,298,930 |
Russell Sage College Troy, NY | $100,657,700 | $74,420,927 |
Bay Path University Longmeadow, MA | $117,799,617 | $71,676,111 |
Goodwin College Inc East Hartford, CT | $247,327,812 | $72,683,426 |