Cheyney Foundation
- Assets
- $945.4k
- Revenue
- $337.9k
- Investments
- $0.0
- Employees
- 1
- Location
- Cheyney, PA
- Founding
- 12/1971
- Data as of
- 06/2021
- EIN
- 23-7148064
Organization Overview
Cheyney Foundation, operating under the name The Cheyney Foundation, is located in Cheyney, PA. The organization was established in 1971. 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. Cheyney 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 06/2021, Cheyney Foundation generated $337.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.8% each year. All expenses for the organization totaled $209.7k during the year ending 06/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SINCE 1971, THE FOUNDATION HAS GIVEN OVER 2.4 M TO CHEYNEY UNIVERSITY, WHICH HAS BEEN USED TO SUPPORT MANY DIFFERENT UNIVERSITY PROGRAMS, PRIMARILY IN THE FORM OF SCHOLARSHIPS FOR STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTING SCHOLARSHIPS AND PROVIDING NEED-BASED FINANCIAL SUPPORT TO THE STUDENTS OF CHEYNEY UNIVERSITY THAT UPHOLD A HIGH LEVEL OF ACADEMIC ACHIEVEMENT.
PROGRAM DISBURSEMENTS TO CHEYNEY UNIVERSITY FOR OPERATING EXPENSES AND PROGRAMMATIC PURPOSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry Walker Chairman | OfficerTrustee | 5 | $0 |
Bryan Phillips Treasurer | OfficerTrustee | 5 | $0 |
Tiffany Wilson Vice Chairma | OfficerTrustee | 5 | $0 |
Jazmine Smith Director | Trustee | 5 | $0 |
Dr Charlette Fairchild Director | Trustee | 5 | $0 |
Irv Bailey Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $279,083 |
| Investment income | $58,773 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $337,856 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $15,000 |
| 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 to disqualified persons | $0 |
| Other salaries and wages | $74,380 |
| 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 | $27,167 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $10,582 |
| Fees for services: Other | $126 |
| Advertising and promotion | $34,555 |
| Office expenses | $2,842 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $1,363 |
| All other expenses | $0 |
| Total functional expenses | $209,716 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $276,933 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $668,461 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $945,394 |
| Accounts payable and accrued expenses | $13,775 |
| 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 | $25,465 |
| Total liabilities | $39,240 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $906,154 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Cheyney Foundation has recieved totaling $171,858.
| Awarding Organization | Amount |
|---|---|
Friends Fiduciary Corporation Philadelphia, PA PURPOSE: TUITION AID | $117,500 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $29,158 |
Charities Aid Foundation America Alexandria, VA PURPOSE: CHARITABLE DONATION | $15,000 |
Robert Wood Johnson Foundation Princeton, NJ PURPOSE: MATCHING GIFTS | $10,000 |
Verizon Foundation Basking Ridge, NJ PURPOSE: MIP PAYOUT FOR 06/21/21 | $200 |
Endowment Analysis
| Beg. Balance | $530,896 |
| Earnings | $191,973 |
| Other Expense | $8,888 |
| Ending Balance | $713,981 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dyouville College Buffalo, NY | $237,922,794 | $97,566,880 |
Marywood University Scranton, PA | $244,412,152 | $100,984,557 |
Saint Francis University Loretto, PA | $151,334,265 | $103,685,117 |
Delaware Valley University Doylestown, PA | $115,886,881 | $93,931,517 |
Alvernia University Reading, PA | $170,646,570 | $90,031,322 |
Misericordia University Dallas, PA | $208,480,483 | $89,800,861 |
Mount Saint Mary College Newburgh, NY | $218,302,494 | $87,358,285 |
Eastern University St Davids, PA | $97,736,290 | $80,183,384 |
Walsh University North Canton, OH | $125,540,692 | $81,110,683 |
Cabrini University Radnor, PA | $134,382,382 | $73,061,139 |
Hood College Of Frederick Md Frederick, MD | $239,172,984 | $86,749,150 |
Franklin University Columbus, OH | $146,345,145 | $78,032,450 |