The Bloomsburg University Foundation Inc
- Assets
- $111.1m
- Revenue
- $18.9m
- Investments
- $0.0
- Employees
- 59
- Location
- Bloomsburg, PA
- Founding
- 05/1971
- Data as of
- 06/2024
- EIN
- 23-7088491
Organization Overview
The Bloomsburg University Foundation Inc is located in Bloomsburg, PA. The organization was established in 1971. 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 06/2024, Bloomsburg University Foundation Inc employed 59 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bloomsburg 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 06/2024, Bloomsburg University Foundation Inc generated $18.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.6% each year. All expenses for the organization totaled $9.7m during the year ending 06/2024. While expenses have increased by 7.4% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Bloomsburg University Foundation Inc has awarded 30 individual grants totaling $20,947,702. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O. THE BLOOMSBURG UNIVERSITY FOUNDATION, INC. INSPIRES AND STEWARDS PHILANTHROPY AND OTHER REVENUE GROWTH IN SUPPORT OF COMMONWEALTH UNIVERSITY - BLOOMSBURG.
Describe the Organization's Program Activity:
SCHOLARSHIPS - THE BLOOMSBURG UNIVERSITY FOUNDATION (BUF) PROVIDES SCHOLARSHIPS AND AWARDS TO MORE THAN 1400 STUDENTS AT COMMONWEALTH UNIVERSITY (CU). THESE SCHOLARSHIPS PROVIDE RESOURCES TO HELP RECRUIT STUDENTS, REWARD INCOMING FRESHMEN FOR THEIR HARD WORK AND TO RETAIN RETURNING STUDENTS. THIS SUPPORT IS INSTRUMENTAL IN HELPING THE UNIVERSITY REACH ITS GOAL OF PROVIDING A QUALITY EDUCATIONAL EXPERIENCE AT AN AFFORDABLE COST. IT ALLOWS CU TO BE A PREMIER PUBLIC COMPREHENSIVE UNIVERSITY, RECOGNIZED AS A CENTER FOR THINKING, LEARNING AND ACADEMIC EXCELLENCE. IT ALSO HELPS OUR UNIVERSITY TO CONTINUE TO ANTICIPATE AND ADDRESS THE CHANGING NEEDS OF THE COMMONWEALTH AND TO BE A DIVERSE COMMUNITY THAT PRODUCES POSITIVE CHANGE AND ENCOURAGES A CULTURE OF GOOD STEWARDSHIP OF OUR RESOURCES AND THE ENVIRONMENT, DEVELOPING INDIVIDUALS WHO WILL BE CONTRIBUTING CITIZENS.
OTHER PROJECTS - THE BUF PROVIDES PROGRAM SUPPORT AND FUNDING FOR FACULTY AND STAFF, FACULTY AND STAFF RECRUITMENT AND RESEARCH, AS WELL AS EMERGING OPPORTUNITIES TO ALLOW THE UNIVERSITY TO RESPOND DECISIVELY AND TO CAPITALIZE ON NEW AREAS OF ACADEMIC PROGRAMMING, STUDENT OPPORTUNITIES AND CAPITAL PROJECTS THAT WILL HELP TO ENSURE THE CONTINUED ADVANCEMENT AND SUCCESS OF COMMONWEALTH UNIVERSITY.ALUMNI ASSOCIATION - THE BUF PROVIDES ACTIVITIES AND PROGRAM SUPPORT FOR THE 75,000 ALUMNI OF COMMONWEALTH UNIVERSITY.ADMINISTRATIVE SUPPORT - THE BUF PROVIDES PROGRAMS TO ALL FACULTY AND STAFF OF COMMONWEALTH UNIVERSITY TO FURTHER DEVELOP THEIR SKILLS.LIBRARY PROJECTS - THE BUF PROVIDES SUPPORT TO THE STAFF AND STUDENTS OF THE CAMPUS LIBRARY TO ENSURE MATERIALS ARE AVAILABLE TO STUDENTS FOR THEIR EDUCATIONAL NEEDS.THE CALCULATED COST TO RAISE A DOLLAR AT BUF IS $0.19 WITH A RETURN ON INVESTMENT TO THE UNIVERSITY OF $4.39 PER EVERY DOLLAR.
ACADEMIC PROJECTS - FUNDING PROVIDED BY THE BUF SUPPORTS A NUMBER OF ACADEMIC PROGRAMS THAT ENHANCE THE EDUCATIONAL EXPERIENCE FOR CU STUDENTS. PROJECTS FUNDED BY THE BUF COVER AREAS THAT INCLUDE, BUT ARE NOT LIMITED TO: ACADEMIC PROGRAMS, ADVANCEMENT AND DEVELOPMENT, TRAVEL, PUBLIC SERVICE, EXTERNAL RELATIONS, ARTWORK AND RESEARCH. THESE PROGRAMS SERVE AS THE FOUNDATION OF THE PRINCIPAL RESOURCES FOR CU FACULTY, STAFF AND STUDENTS. THEY SUPPORT THE UNIVERSITY'S EFFORTS TO EXPAND PROFESSIONAL DEVELOPMENT AND EXPERIENTIAL LEARNING OPPORTUNITIES THAT OCCUR BEYOND THE CLASSROOM SETTING AND ARE VITAL IN PREPARING CU STUDENTS TO ENTER A COMPETITIVE WORKFORCE.
ATHLETIC PROJECTS - THE BUF PROVIDES SCHOLARSHIP AND PROGRAM SUPPORT TO APPROXIMATELY 340 STUDENT-ATHLETES OF BLOOMSBURG UNIVERSITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen Jones Chairman | OfficerTrustee | 3 | $0 |
Michael Gillespie Vice Chair | OfficerTrustee | 3 | $0 |
Craig Diehl Treasurer | OfficerTrustee | 1 | $0 |
Nicholas Giuffre Corresponding Secretary | OfficerTrustee | 1 | $0 |
Susan Fetterman Interim Secretary | OfficerTrustee | 1 | $0 |
Harold Bailey 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 | $13,839,126 |
| Noncash contributions included in lines 1a–1f | $29,962 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,839,126 |
| Total Program Service Revenue | $2,730,688 |
| Investment income | $1,926,224 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $59,629 |
| Net Rental Income | -$160,213 |
| Net Gain/Loss on Asset Sales | $372,492 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,897,759 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,196,040 |
| 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. | $263,722 |
| Compensation of current officers, directors, key employees. | $71,824 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,684,169 |
| Pension plan accruals and contributions | $128,481 |
| Other employee benefits | $352,931 |
| Payroll taxes | $164,090 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $127,457 |
| Fees for services: Other | $1,148,850 |
| Advertising and promotion | $247,699 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $42,997 |
| Travel | $329,222 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $88,460 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $87,401 |
| Insurance | $11,297 |
| All other expenses | $77,517 |
| Total functional expenses | $9,713,710 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,645,867 |
| Pledges and grants receivable | $13,686,632 |
| 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 | $737,296 |
| Net Land, buildings, and equipment | $18,222,677 |
| Investments—publicly traded securities | $74,680,767 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,174,868 |
| Total assets | $111,148,107 |
| Accounts payable and accrued expenses | $155,453 |
| 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 | $16,028,880 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $633,664 |
| Total liabilities | $16,817,997 |
| Net assets without donor restrictions | $3,826,882 |
| Net assets with donor restrictions | $90,503,228 |
| 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 | $111,148,107 |
Grants Awarded
Over the last fiscal year, The Bloomsburg University Foundation Inc has awarded $4,010,521 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
COMMONWEALTH UNIVERSITY OF PENNSYLVANIA PURPOSE: ACADEMIC PROJECTS | $953,574 |
COMMONWEALTH UNIVERSITY OF PENNSYLVANIA PURPOSE: OTHER PROJECTS | $48,314 |
COMMONWEALTH UNIVERSITY OF PENNSYLVANIA PURPOSE: SCHOLARSHIPS | $2,945,364 |
COMMONWEALTH UNIVERSITY OF PENNSYLVANIA PURPOSE: ATHLETICS | $63,269 |