Shippensburg University Foundation
- Assets
- $82.0m
- Revenue
- $14.2m
- Investments
- $1.6m
- Employees
- 108
- Location
- Shippensburg, PA
- Founding
- 01/1978
- Data as of
- 06/2022
- EIN
- 23-2046093
Organization Overview
Shippensburg University Foundation is located in Shippensburg, PA. The organization was established in 1978. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2022, Shippensburg University Foundation employed 108 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Shippensburg University Foundation 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 06/2022, Shippensburg University Foundation generated $14.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $8.8m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE SHIPPENSBURG UNIVERSITY FOUNDATION SECURES FUNDS FOR THE BENEFIT OF THE STUDENTS AND PROGRAMS OF SHIPPENSBURG UNIVERSITY. THE SU FOUNDATION SECURES ANNUAL AND CAPITAL SUPPORT FOR, BUT NOT LIMITED TO, SCHOLARSHIPS, STUDENT AND FACULTY RESEARCH, CULTURAL PROGRAMMING, EQUIPMENT, FACILITIES AND OTHER UNIVERSITY PRIORITIES. THE SU FOUNDATION ALSO MANAGES ENDOWED FUNDS, PROVIDES QUALITY OFF-CAMPUS STUDENT HOUSING AND OPERATES AN ON-CAMPUS CHILD AND FAMILY CENTER.
Describe the Organization's Program Activity:
THE SHIPPENSBURG UNIVERSITY FOUNDATION PROVIDES SCHOLARSHIPS, AWARDS, LOW-INTEREST LOANS, AND EMERGENCY ASSISTANCE TO OVER 900 STUDENTS AT SHIPPENSBURG UNIVERSITY. WITHOUT THE SCHOLARSHIPS & OTHER ASSISTANCE PROVIDED BY THE SU FOUNDATION, SOME STUDENTS COULD NOT EXPERIENCE THE OPPORTUNITIES AND BENEFITS OF THE QUALITY EDUCATION FOR WHICH SHIPPENSBURG UNIVERSITY IS WELL-KNOWN.
THE SHIPPENSBURG UNIVERSITY FOUNDATION PROVIDES SAFE, QUALITY AND AFFORDABLE OFF-CAMPUS HOUSING TO OVER 300 STUDENTS. THE SU FOUNDATION'S STUDENT HOUSING PROPERTIES ARE IN CLOSE PROXIMITY TO THE UNIVERSITY. THESE PROPERTIES ARE WELL MAINTAINED AND PROVIDE 24/7 MAINTENANCE, HARD-WIRED FIRE ALARMS AND SPRINKLER SYSTEMS FOR THE SAFETY OF THE STUDENTS. THE SHIPPENSBURG UNIVERSITY FOUNDATION ALSO LEASES VARIOUS PROPERTIES TO SHIPPENSBURG UNIVERSITY FOR USE IN THE REGULAR OPERATION OF THE UNIVERSITY
THE SHIPPENSBURG UNIVERSITY FOUNDATION PROVIDES SUPPORT FOR VARIOUS ACADEMIC & CULTURAL PROGRAMS, JOINT UNDERGRADUATE STUDENT & FACULTY RESEARCH, STATE OF THE ART SCIENTIFIC EQUIPMENT & TECHNOLOGY, STUDENT & FACULTY CONFERENCE ATTENDANCE, PROFESSIONAL DEVELOPMENT, OTHER STUDENT SERVICES, AND ALUMNI PROGRAMS AT SHIPPENSBURG UNIVERSITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Leslie Folmer Clinton Secretary, President & CEO | Officer | 40 | $270,340 |
Ms Chrystal K Miracle CFO | Officer | 40 | $161,405 |
Mrs Lani Longarzo Director Major Gifts | 40 | $115,683 | |
Mr W Mickey Nye Director | Trustee | 1 | $0 |
Mr Richard H Pizzarro Director | Trustee | 1 | $0 |
Mrs Mary Jo Grove Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $81,624 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,090,229 |
| Noncash contributions included in lines 1a–1f | $1,272,433 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,171,853 |
| Total Program Service Revenue | $4,356,456 |
| Investment income | $296,635 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,269,765 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,164,957 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $438,325 |
| Compensation of current officers, directors, key employees. | $301,031 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,528,730 |
| Pension plan accruals and contributions | $161,781 |
| Other employee benefits | $367,245 |
| Payroll taxes | $163,525 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $57,639 |
| Fees for services: Accounting | $31,157 |
| Fees for services: Lobbying | $32,990 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $453,097 |
| Advertising and promotion | $25,697 |
| Office expenses | $19,334 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $992,984 |
| Travel | $34,273 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $32,347 |
| Interest | $556,483 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $884,311 |
| Insurance | $137,422 |
| All other expenses | $178,165 |
| Total functional expenses | $8,820,325 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $848,525 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $632,339 |
| Accounts receivable, net | $2,334,544 |
| 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 | $104,501 |
| Net Land, buildings, and equipment | $15,974,611 |
| Investments—publicly traded securities | $54,590,115 |
| Investments—other securities | $1,637,904 |
| Investments—program-related | $993,567 |
| Intangible assets | $0 |
| Other assets | $4,880,548 |
| Total assets | $81,996,654 |
| Accounts payable and accrued expenses | $489,846 |
| Grants payable | $0 |
| Deferred revenue | $1,974,421 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $306,559 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $15,784,648 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $269,200 |
| Total liabilities | $18,824,674 |
| Net assets without donor restrictions | $2,368,052 |
| Net assets with donor restrictions | $60,803,928 |
| 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 | $81,996,654 |