West Chester University Foundation
- Assets
- $53.9m
- Revenue
- $11.5m
- Investments
- $0.0
- Employees
- 35
- Location
- West Chester, PA
- Founding
- 11/2000
- Data as of
- 06/2021
- EIN
- 23-3054174
Organization Overview
West Chester University Foundation is located in West Chester, PA. The organization was established in 2000. 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, West Chester University Foundation employed 35 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. West Chester 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 06/2021, West Chester University Foundation generated $11.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $7.4m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, West Chester University Foundation has awarded 32 individual grants totaling $20,476,149. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE THE CHARITABLE, SCIENTIFIC, AND EDUCATIONAL INTERESTS OF WEST CHESTER UNIVERSITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION'S PROGRAM SERVICE ACCOMPLISHMENTS DURING FISCAL YEAR JUNE 30, 2022 WERE:THE FOUNDATION RAISED OVER $12 MILLION IN CONTRIBUTIONS FOR WEST CHESTER UNIVERSITY:- OVER $1 MILLION OF THE $12 MILLION RAISED WAS DIRECTED TO ENDOWMENTS FOR THE BENEFIT OF FUTURE STUDENT SCHOLARSHIPS AND FUTURE SUPPORT FOR UNIVERSITY PROGRAMS AND ACTIVITIES. $1.35 MILLION IN SCHOLARSHIPS WERE AWARDED TO NEARLY 1,000 STUDENTS BASED ON CRITERIA DETERMINED BY DONORS. MANY OF THE SCHOLARSHIP RECIPIENTS COULD NOT EXPERIENCE THE OPPORTUNITIES AND BENEFITS OF A HIGH QUALITY WEST CHESTER UNIVERSITY EDUCATION WITHOUT THESE SCHOLARSHIPS.- FUNDS RAISED ALSO BENEFITED PROGRAMS AND ACTIVITIES SUCH AS ACADEMIC AND CULTURAL PROGRAMS, ATHLETIC PROGRAMS, JOINT UNDERGRADUATE STUDENT AND FACULTY RESEARCH, STUDENT AND FACULTY CONFERENCE ATTENDANCE, STUDENT PARTICIPATION IN NATIONAL TOURNAMENTS, PROFESSIONAL DEVELOPMENT, AND OTHER STUDENT SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Mominey CEO (until 6/22) | Officer | 30 | $280,712 |
Cindy Ray CFO (until 8/22) | Officer | 30 | $149,676 |
Debra Cornelius Chief Dev. Off./int. Ed (as Of 6/22) | 45 | $104,932 | |
Christina Farrell Chief Advancement Ops Officer | Officer | 45 | $97,978 |
Marie Colaprete Chief Hr Officer (until 6/21) | Officer | 30 | $88,333 |
Dr John H Baker President | OfficerTrustee | 0.2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Baker Tilly Us Llp Accounting Services | 6/29/21 | $187,857 |
Blackbaud Website Management | 6/29/21 | $104,793 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $88,151 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,882,375 |
| Noncash contributions included in lines 1a–1f | $357,780 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,970,526 |
| Total Program Service Revenue | $1,624,363 |
| Investment income | $1,130,910 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$1,256 |
| Net Gain/Loss on Asset Sales | $688,892 |
| Net Income from Fundraising Events | $29,847 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,478,088 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,947,075 |
| Grants and other assistance to domestic individuals. | $1,168,856 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $763,524 |
| Compensation of current officers, directors, key employees. | $763,524 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,455,168 |
| Pension plan accruals and contributions | $113,873 |
| Other employee benefits | $360,658 |
| Payroll taxes | $161,856 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $65,391 |
| Fees for services: Accounting | $21,490 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $96,852 |
| Fees for services: Other | $282,840 |
| Advertising and promotion | $5,718 |
| Office expenses | $140,359 |
| Information technology | $153,987 |
| Royalties | $0 |
| Occupancy | $101,196 |
| Travel | $1,861 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $107,301 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $277,776 |
| Insurance | $48,624 |
| All other expenses | $1,697 |
| Total functional expenses | $7,399,934 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,051,021 |
| Savings and temporary cash investments | $11,374,585 |
| Pledges and grants receivable | $3,587,129 |
| Accounts receivable, net | $85,620 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,330 |
| Prepaid expenses and deferred charges | $67,602 |
| Net Land, buildings, and equipment | $4,705,710 |
| Investments—publicly traded securities | $29,933,281 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,122,308 |
| Total assets | $53,929,586 |
| Accounts payable and accrued expenses | $611,637 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $2,443,673 |
| Unsecured mortgages and notes payable | $1,184,000 |
| Other liabilities | $140,912 |
| Total liabilities | $4,380,222 |
| Net assets without donor restrictions | $6,276,850 |
| Net assets with donor restrictions | $43,272,514 |
| 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 | $53,929,586 |
Grants Awarded
Over the last fiscal year, West Chester University Foundation has awarded $2,908,653 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
WEST CHESTER UNIVERSITY OF PENNSYLVANIA PURPOSE: TO PROMOTE THE VARIOUS EXEMPT PURPOSES OF WEST CHESTER UNIVERSITY | $2,746,448 |
West Chester, PA PURPOSE: TO PROMOTE THE VARIOUS EXEMPT PURPOSES OF STUDENT SERVICES, INC. | $138,479 |
West Chester, PA PURPOSE: TO PROMOTE THE VARIOUS EXEMPT PURPOSES OF WEST CHESTER UNIVERSITY ALUMNI ASSOCIATION | $23,726 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that West Chester University Foundation has recieved totaling $6,000.
| Awarding Organization | Amount |
|---|---|
Smith Foundation Downingtown, PA PURPOSE: SUPPORT TWO SCHOLARSHIP AWARDS | $6,000 |
Endowment Analysis
| Beg. Balance | $29,684,985 |
| Earnings | -$3,564,911 |
| Net Contributions | $1,244,281 |
| Other Expense | $803,179 |
| Grants | $468,978 |
| Ending Balance | $26,092,198 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Youngstown State University Foundation Youngstown, OH | $318,269,128 | $38,933,738 |
University Of Maryland Obstetrical And Gynecological Associates P A Baltimore, MD | $13,649,114 | $19,437,289 |
Kent State University Foundation Kent, OH | $245,939,628 | $27,886,498 |
Unidel Foundation Inc Greenville, DE | $452,249,782 | $36,851,681 |
Hunter College Foundation Inc New York, NY | $144,509,988 | $37,248,838 |
University Of Akron Foundation Akron, OH | $205,506,114 | $14,662,521 |
Educational Foundation Of America Bethesda, MD | $294,733,951 | $32,812,396 |
The American Friends Of Winchester College New York, NY | $259,900 | $15,435,931 |
Friends Of@ascend Charter Schools Inc Brooklyn, NY | $51,013,536 | $16,135,870 |
Rowan University Foundation Inc Glassboro, NJ | $339,808,677 | $39,224,287 |
Equitable Facilities Fund Inc New York, NY | $843,754,758 | $34,535,002 |
School Employees Benefit Trust Cincinnati, OH | $16,584,284 | $19,989,967 |