Appalachian State University Foundation Inc
- Assets
- $216.2m
- Revenue
- $33.0m
- Investments
- $152.0m
- Employees
- 0
- Location
- Boone, NC
- Founding
- 03/1971
- Data as of
- 06/2023
- EIN
- 23-7099379
Organization Overview
Appalachian State University Foundation Inc is located in Boone, NC. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Appalachian State 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 06/2023, Appalachian State University Foundation Inc generated $33.0m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.5% each year . All expenses for the organization totaled $26.6m during the year ending 06/2023. While expenses have increased by 8.3% 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 2015, Appalachian State University Foundation Inc has awarded 36 individual grants totaling $145,712,430. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THROUGH IMPACTFUL AND ENGAGED STEWARDSHIP, FUNDRAISING, FINANCIAL MANAGEMENT, AND THOUGHTFUL BOARD LEADERSHIP, THE APPALACHIAN STATE UNIVERSITY FOUNDATION WILL PROVIDE SIGNIFICANT RESOURCES IN SUPPORT OF THE UNIVERSITY'S MISSION AND KEY PRIORITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT PROVIDED TO APPALACHIAN STATE UNIVERSITY TO SUPPORT ACADEMIC OPERATING BUDGETS, FACULTY AND STAFF SALARIES/SUPPLEMENTS AND OTHER EVENTS, AND IN-KIND DONATIONS.
ADDITIONAL SUPPORT TO APPALACHIAN STATE UNIVERSITY.
SUPPORT PROVIDED TO APPALACHIAN STATE UNIVERSITY FOR SCHOLARSHIPS.
PROGRAM AND SCHOLARSHIP SUPPORT PROVIDED TO APPALACHIAN STATE UNIVERSITY ATHLETICS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeannine Underdown Collins Board Chair | OfficerTrustee | 3 | $0 |
Sheri Everts Board Member | Trustee | 1 | $0 |
Kimberly Shepherd Board Member | Trustee | 1 | $0 |
Chad Seigler Board Member | Trustee | 1 | $0 |
Carolyn Schmalenberger Board Member | Trustee | 1 | $0 |
Mark Ricks Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Taft & Harding On Park Ave Llc Concessions Services | 6/29/22 | $204,186 |
Onecbi Llc Workplace Services | 6/29/22 | $168,819 |
Ruffalocody Holdings Llc Donor Communications | 6/29/22 | $166,014 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $548,725 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $30,433,638 |
| Noncash contributions included in lines 1a–1f | $764,285 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $30,982,363 |
| Total Program Service Revenue | $749,488 |
| Investment income | $992,914 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $3,334 |
| Net Rental Income | $13,979 |
| Net Gain/Loss on Asset Sales | $197,141 |
| Net Income from Fundraising Events | -$47,515 |
| Net Income from Gaming Activities | $18,807 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $32,992,560 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $23,618,548 |
| 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 | $10,325 |
| Fees for services: Accounting | $35,125 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $365,954 |
| Fees for services: Other | $697,383 |
| Advertising and promotion | $2,020 |
| Office expenses | $214,616 |
| Information technology | $52,689 |
| Royalties | $0 |
| Occupancy | $49,585 |
| Travel | $210,216 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $476,416 |
| Interest | $80,771 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $216,390 |
| Insurance | $72,419 |
| All other expenses | $0 |
| Total functional expenses | $26,568,594 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $500 |
| Savings and temporary cash investments | $38,420,760 |
| Pledges and grants receivable | $23,279,215 |
| Accounts receivable, net | $108,290 |
| 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 | $103,154 |
| Net Land, buildings, and equipment | $2,121,234 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $152,021,928 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $129,656 |
| Total assets | $216,184,737 |
| Accounts payable and accrued expenses | $211,658 |
| Grants payable | $0 |
| Deferred revenue | $3,938,100 |
| 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 | $1,593,530 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,523,078 |
| Total liabilities | $7,266,366 |
| Net assets without donor restrictions | $10,561,200 |
| Net assets with donor restrictions | $198,357,171 |
| 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 | $216,184,737 |
Grants Awarded
Over the last fiscal year, Appalachian State University Foundation Inc has awarded $23,618,548 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
APPALACHIAN STATE UNIVERSITY PURPOSE: SUPPORT FOR APPALACHIAN STATE UNIVERSITY SCHOLARSHIPS. | $5,047,028 |
APPALACHIAN STATE UNIVERSITY PURPOSE: SUPPORT FOR APPALACHIAN STATE UNIVERSITY PROGRAMS AND STUDENTS. | $5,955,766 |
APPALACHIAN STATE UNIVERSITY PURPOSE: SUPPORT FOR APPALACHIAN STATE UNIVERSITY STUDENT ATHLETE SCHOLARSHIPS AND PROGRAMS. | $11,810,573 |
APPALACHIAN STATE UNIVERSITY PURPOSE: GENERAL SUPPORT | $805,181 |