Morgan State University Foundation Incorporated
- Assets
- $141.3m
- Revenue
- $14.5m
- Investments
- $91.2m
- Employees
- 0
- Location
- Baltimore, MD
- Founding
- 12/1970
- Data as of
- 06/2022
- EIN
- 23-7089143
Organization Overview
Morgan State University Foundation Incorporated is located in Baltimore, MD. The organization was established in 1970. 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. Morgan State University Foundation Incorporated 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, Morgan State University Foundation Incorporated generated $14.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.9% each year . All expenses for the organization totaled $10.6m during the year ending 06/2022. While expenses have increased by 10.8% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE THE GROWTH, PROGRESS AND GENERAL WELFARE OF MORGAN STATE UNIVERSITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE GRANTS AND SCHOLARSHIP ASSISTANCE TO STUDENTS ATTENDING MORGAN STATE UNIVERSITY AND TO PROVIDE FINANCIAL SUPPORT FOR UNIVERSITY PROGRAMS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Phyllis C Davis Secretary | OfficerTrustee | 5 | $0 |
Forest T Harper Jr Vice Chair | OfficerTrustee | 5 | $0 |
Jacqueline L Lawson Chair | OfficerTrustee | 5 | $0 |
Craig L Spencer Treasurer | OfficerTrustee | 5 | $0 |
Stanley W Tucker Trustee | Trustee | 1 | $0 |
Dr Melanie L Jackson Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,985 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $29,715,625 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $29,717,610 |
| Total Program Service Revenue | $0 |
| Investment income | $302,614 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $214,667 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,542,251 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,248,643 |
| 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 | $27,500 |
| 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 | $3,601,089 |
| Advertising and promotion | $0 |
| Office expenses | $236,989 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $254,162 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $25,189 |
| All other expenses | $571,233 |
| Total functional expenses | $10,625,542 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $23,177,377 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $26,452,625 |
| 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 | $7,500 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $91,221,445 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $404,425 |
| Total assets | $141,263,372 |
| Accounts payable and accrued expenses | $464,964 |
| Grants payable | $0 |
| Deferred revenue | $2,500 |
| 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 | $0 |
| Total liabilities | $467,464 |
| Net assets without donor restrictions | $2,780,947 |
| Net assets with donor restrictions | $138,014,961 |
| 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 | $141,263,372 |
Grants Recieved
Over the last fiscal year, we have identified 45 grants that Morgan State University Foundation Incorporated has recieved totaling $5,129,678.
| Awarding Organization | Amount |
|---|---|
Jack Kent Cooke Foundation Lansdowne, VA PURPOSE: CURRENT SCHOLARSHIPS AND ENDOWED SCHOLARSHIP FUND | $1,000,000 |
Goldman Sachs Foundation New York, NY PURPOSE: GRANT TO IMPLEMENT THE 10,000 SMALL BUSINESSESS INITIATIVE IN THE GREATER BALTIMORE AREA. | $774,676 |
Goldman Sachs Foundation New York, NY PURPOSE: GRANT TO IMPLEMENT THE 10,000 SMALL BUSINESSESS INITIATIVE IN THE GREATER BALTIMORE AREA. | $465,808 |
Goldman Sachs Foundation New York, NY PURPOSE: GRANT TO IMPLEMENT THE 10,000 SMALL BUSINESSES INITIATIVE IN BALTIMORE, MD | $387,338 |
The Tina And Calvin Tyler Family Foundation Inc Henderson, NV PURPOSE: TINA TYLER SCHOLARS | $300,000 |
Henry Luce Foundation Inc New York, NY PURPOSE: 4 CBL UNDERGRADUATE STEM SCHOLARSHIPS | $299,688 |
Endowment Analysis
| Beg. Balance | $117,242,601 |
| Earnings | -$15,390,025 |
| Admin Expense | $2,773,210 |
| Net Contributions | $10,382,438 |
| Ending Balance | $109,461,804 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Immaculata University Immaculata, PA | $90,984,973 | $52,685,329 |
Virginia Union University Richmond, VA | $104,066,612 | $71,236,493 |
La Roche University Pittsburgh, PA | $39,277,168 | $46,530,372 |
Pittsburgh Technical Institute Inc Oakdale, PA | $64,231,966 | $39,911,852 |
Goldey Beacom College Inc Wilmington, DE | $221,938,935 | $32,727,269 |
Wheeling Jesuit University Inc Wheeling, WV | $24,384,754 | $30,930,367 |
Graduate School Washington, DC | $24,003,596 | $23,800,666 |
Morgan State University Foundation Incorporated Baltimore, MD | $141,263,372 | $14,542,251 |
American University Of Rome Washington, DC | $5,091,812 | $6,709,805 |
Appalachian College Of Pharmacy Oakwood, VA | $36,195,397 | $7,728,362 |
Virginia Commonwealth University Real Estate Foundation Richmond, VA | $95,872,198 | $7,982,693 |
Virginia University Of Lynchburg Inc Lynchburg, VA | $13,241,169 | $8,139,477 |