Alabama A & M University Foundation
- Assets
- $20.3m
- Revenue
- $1.2m
- Investments
- $8.5m
- Employees
- 0
- Location
- Normal, AL
- Founding
- 04/1970
- Data as of
- 09/2023
- EIN
- 23-7067600
Organization Overview
Alabama A & M University Foundation is located in Normal, AL. The organization was established in 1970. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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. Alabama A & M 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 09/2023, Alabama A & M University Foundation generated $1.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (12.9%) each year. All expenses for the organization totaled $459.7k during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (20.3%) per year over the past 7 years. 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
THE ALABAMA A&M UNIVERSITY FOUNDATION WAS ESTABLISHED TO RECEIVE, HOLD, INVEST, MANAGE, USE, AND ADMINISTER PROPERTY OF ALL KINDS, WHETHER GIVEN ABSOLUTELY OR IN TRUST, FOR THE BENEFIT OF ALABAMA A&M UNIVERSITY AND ITS EDUCATIONAL, RESEARCH, CULTURAL, PUBLIC SERVICES, AND SUPPORT ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACADEMIC SUPPORT SCHOLARSHIPS & UNIVERSITY SUPPORT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lt Col Carolyn Culpepper Ret Member | Trustee | 1 | $0 |
Andrea Cunningham PHD Member | Trustee | 1 | $0 |
Mary Jones Moore Member | Trustee | 1 | $0 |
Bryan Hicks Member | Trustee | 1 | $0 |
Jerome B Williams Member | Trustee | 1 | $0 |
Kyla Pitcher Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Alabama A&m University Services | 9/29/18 | $2,726,828 |
File Building Co Services | 9/29/18 | $179,113 |
American Express Services | 9/29/18 | $226,543 |
Nevco Inc Services | 9/29/18 | $320,009 |
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 | $1,020,301 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,020,301 |
| Total Program Service Revenue | $0 |
| Investment income | $114,522 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $48,695 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,200,064 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $5,700 |
| 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 | $20,104 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $138,778 |
| Fees for services: Legal | $7,500 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,934 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,097 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $71,017 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $70,303 |
| Insurance | $0 |
| All other expenses | $38,583 |
| Total functional expenses | $459,721 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,302,638 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $27,233 |
| 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 | $0 |
| Net Land, buildings, and equipment | $2,467,518 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $8,510,472 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $20,307,861 |
| Accounts payable and accrued expenses | $30,000 |
| 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 | $1,858,193 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $13,072,859 |
| Total liabilities | $14,961,052 |
| Net assets without donor restrictions | $1,666,218 |
| Net assets with donor restrictions | $3,680,591 |
| 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 | $20,307,861 |