Fayetteville State University Foundation Inc
- Assets
- $25.0m
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Fayetteville, NC
- Founding
- 08/1911
- Data as of
- 06/2022
- EIN
- 23-7029901
Organization Overview
Fayetteville State University Foundation Inc, operating under the name Attention Fsu Accounts Payable, is located in Fayetteville, NC. The organization was established in 1911. According to its NTEE Classification (B43) the organization is classified as: Universities, 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. Attention Fsu Accounts Payable 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, Attention Fsu Accounts Payable generated $3.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $2.2m during the year ending 06/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
A. TO SOLICIT, RECEIVE, HOLD, MANAGE AND DISBURSE CONTRIBUTIONS, GIFTS, GRANTS, BEQUESTS AND TRANSFERS OF FUNDS OR PROPERTY OF ANY NATURE FOR THE BENEFIT OF FAYETTEVILLE STATE UNIVERSITY, ITS STUDENTS, FACULTY AND STAFF. TO USE THE NAME OF THE UNIVERSITY IN ANY WAY WHICH WILL BENEFIT AND ENRICH OR ENLARGE UPON ITS FACILITIES AND PROGRAMS IN ACCORD WITH THE DIRECTION OF THE DONORS AND ACCEPTABLE TO THE ADMINISTRATIVE OFFICIALS OF THE UNIVERSITY. B. TO ACT AS TRUSTEE, ESCROW OR DISBURSING AGENT WITH RESPECT TO ANY ENDOWMENT, GIFT, GRANTS, CONTRIBUTIONS, OR BEQUESTS MADE FOR THE BENEFIT OF FAYETTEVILLE SATTE UNIVERSITY, ITS STUDENTS, FACULTY AND STAFF, UNDER THE TERMS OF THE TRUSTOR OR DONOR AND TO CARRY ON SUCH FUNCTIONS AS WILL ACCOMPLISH THE PURPOSE AND INTENT OF THE GIFT, ENDOWMENT, TRUST OR GRANT. C. TO SPONSOR, ENCOURAGE, CONDUCT AND RENDER FINANCIAL ASSISTANCE IN STUDENT AID PROGRAMS, ALUMNI EVENTS, PUBLIC RELATIONS ACTIVITIES, FACULTY SUPPLEMENTS, CURRICULUM ENRICHMENT PROGRAMS, R
Describe the Organization's Program Activity:
Part 3 - Line 4a
A. TO SOLICIT, RECEIVE, HOLD, MANAGE AND DISBURSE CONTRIBUTIONS, GIFTS, GRANTS, BEQUESTS AND TRANSFERS OF FUNDS OR PROPERTY OF ANY NATURE FOR THE BENEFIT OF FAYETTEVILLE STATE UNIVERSITY, ITS STUDENTS, FACULTY AND STAFF. TO USE THE NAME OF THE UNIVERSITY IN ANY WAY WHICH WILL BENEFIT AND ENRICH OR ENLARGE UPON ITS FACILITIES AND PROGRAMS IN ACCORD WITH THE DIRECTION OF THE DONORS AND ACCEPTABLE TO THE ADMINISTRATIVE OFFICIALS OF THE UNIVERSITY. B. TO ACT AS TRUSTEE, ESCROW OR DISBURSING AGENT WITH RESPECT TO ANY ENDOWMENT, GIFT, GRANTS, CONTRIBUTIONS OR BEQUESTS MADE FOR THE BENEFIT OF FAYETTEVILLE STATE UNIVERSITY, ITS STUDENTS, FACULTY AND STAFF, UNDER THE TERMS OF THE TRUSTOR OR DONOR AND TO CARRY ON SUCH FUNCTIONS AS WILL ACCOMPLISH THE PURPOSE AND INTENT OF THE GIFT, ENDOWMENT, TRUST OR GRANT. C. TO SPONSOR, ENCOURAGE, CONDUCT AND RENDER FINANCIAL ASSISTANCE IN STUDENT AID PROGRAMS, ALUMNI EVENTS, PUBLIC RELATIONS ACTIVITIES, FACULTY SUPPLEMENTS, CURRICULUM ENRICHMENT PROGRAMS, RESEARCH PROJECTS AND STUDIES AS APPROVED BY THE PROPER AUTHORITIES OF THE UNIVERSITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vedas Neal Secretary | OfficerTrustee | 1 | $0 |
John Ben Brown Jr Chair | OfficerTrustee | 1 | $0 |
Jermaine Coble Vice Chair | OfficerTrustee | 1 | $0 |
Jared James Director | Trustee | 1 | $0 |
Olivia Chavis Director | Trustee | 1 | $0 |
Jermaine Pittman Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,047,899 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,047,899 |
| Total Program Service Revenue | $1,278,040 |
| Investment income | $235,413 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $37,067 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,598,419 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $294,986 |
| 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. | $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 | $147,770 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $90,890 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $311,281 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $234,743 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $2,747 |
| Total functional expenses | $2,235,411 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,105,247 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $22,614 |
| Accounts receivable, net | $30,551 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $8,024,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $434,040 |
| Investments—publicly traded securities | $11,371,468 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $24,987,920 |
| Accounts payable and accrued expenses | $178,980 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,054,551 |
| Total liabilities | $8,233,531 |
| Net assets without donor restrictions | $11,098,260 |
| Net assets with donor restrictions | $5,656,129 |
| 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 | $24,987,920 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Fayetteville State University Foundation Inc has recieved totaling $5,816,230.
| Awarding Organization | Amount |
|---|---|
Anonymous Trust Raleigh, NC PURPOSE: MULTI-YEAR GRANT FOR GENERAL OPERATING SUPPORT (1,823,727 2023; 1,948,727 2024; 280,185 2025) | $4,052,639 |
Anonymous Trust Raleigh, NC PURPOSE: GRANT FOR GENERAL OPERATING SUPPORT (YEAR ONE OF MULTI-YEAR GRANT) | $1,418,591 |
Anonymous Trust Raleigh, NC PURPOSE: CHALLENGE GRANTS FOR GENERAL OPERATING SUPPORT | $250,000 |
Anonymous Trust Raleigh, NC PURPOSE: GRANT FOR READING CLINIC | $95,000 |
Endowment Analysis
| Beg. Balance | $10,876,705 |
| Earnings | $436,434 |
| Net Contributions | $356,596 |
| Other Expense | -$220,720 |
| Ending Balance | $11,449,015 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Emory University Decatur, GA | $5,794,825 | $19,416,810 |
Gamecock Club Of The University Of South Carolina Columbia, SC | $10,628,340 | $13,135,992 |
Crown College Powell, TN | $16,563,165 | $8,650,181 |
Appalachian College Of Pharmacy Oakwood, VA | $36,195,397 | $7,728,362 |
Austin Peay State University Foundation Clarksville, TN | $60,731,234 | $13,661,420 |
University Of Tennessee Research Foundation Knoxville, TN | $82,756,683 | $8,787,700 |
School Of Media And Journalism Foundation Of North Carolina Inc Chapel Hill, NC | $50,008,414 | $6,859,944 |
Virginia Commonwealth University Real Estate Foundation Richmond, VA | $95,872,198 | $7,982,693 |
Western Carolina University Foundation Cullowhee, NC | $76,335,154 | $7,286,676 |
Virginia University Of Lynchburg Inc Lynchburg, VA | $13,241,169 | $8,139,477 |
South Carolina Research Foundation Columbia, SC | $3,435,168 | $5,813,160 |
Skema Us Inc Raleigh, NC | $4,455,636 | $4,986,543 |