Westfield State University Foundation Inc
- Assets
- $18.7m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Westfield, MA
- Founding
- 12/1980
- Data as of
- 06/2023
- EIN
- 04-2701694
Organization Overview
Westfield State University 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 University 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 06/2023, Westfield State University Foundation Inc generated $2.4m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $1.4m during the year ending 06/2023. 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
2023
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 350 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 |
|---|---|---|---|
George Flevotomos Chair | OfficerTrustee | 1 | $0 |
Elizabeth Scheibel Past Chair | OfficerTrustee | 1 | $0 |
Kevin R Queenin 1st Vice Chair | OfficerTrustee | 1 | $0 |
Heather Witalisz 2nd Vice Chair | OfficerTrustee | 1 | $0 |
James Krupienski Treasurer | OfficerTrustee | 1 | $0 |
Eileen S Rockwal Clerk | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $75,526 |
| Related organizations | $0 |
| Government grants | $431,972 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,439,402 |
| Noncash contributions included in lines 1a–1f | $32,881 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,946,900 |
| Total Program Service Revenue | $0 |
| Investment income | $359,456 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $40,282 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,703 |
| Net Income from Fundraising Events | $2,031 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,361,466 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $420,859 |
| Grants and other assistance to domestic individuals. | $844,365 |
| 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 | $20,870 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $35,785 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,280 |
| Office expenses | $1,438 |
| 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 | $3,236 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,755 |
| Insurance | $12,982 |
| All other expenses | $2,272 |
| Total functional expenses | $1,402,589 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,222,934 |
| Savings and temporary cash investments | $1,029,963 |
| Pledges and grants receivable | $150,134 |
| 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 | $32,542 |
| Net Land, buildings, and equipment | $397,666 |
| Investments—publicly traded securities | $15,860,334 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $18,693,573 |
| Accounts payable and accrued expenses | $1,882 |
| Grants payable | $0 |
| Deferred revenue | $25,545 |
| 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 | $298,791 |
| Total liabilities | $326,218 |
| Net assets without donor restrictions | $608,631 |
| Net assets with donor restrictions | $17,758,724 |
| 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 | $18,693,573 |