Southern Connecticut State University Foundation Inc
- Assets
- $45.3m
- Revenue
- $6.8m
- Investments
- $40.8m
- Employees
- 0
- Location
- New Haven, CT
- Founding
- 09/1972
- Data as of
- 06/2022
- EIN
- 23-7208882
Organization Overview
Southern Connecticut State University Foundation Inc is located in New Haven, CT. The organization was established in 1972. 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. Southern Connecticut 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 06/2022, Southern Connecticut State University Foundation Inc generated $6.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $3.6m during the year ending 06/2022. While expenses have increased by 3.6% 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
OPERATED EXCLUSIVELY FOR CHARITABLE, SCIENTIFIC, LITERACY, CULTURAL,(CONTINUED ON SCHEDULE O) EDUCATIONAL AND RECREATIONAL PURPOSES TO PROMOTE THE OBJECTIVES AT SOUTHERN CONNECTICUT STATE UNIVERSITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS & AWARDS - PROVIDE FINANCIAL ASSISTANCE TO STUDENTS ENROLLED IN THE UNIVERSITY TO ASSIST THEM IN OBTAINING THEIR UNDERGRADUATE AND GRADUATE DEGREES AND/OR RECOGNIZE THEM FOR SPECIFIC ACCOMPLISHMENTS THEY HAVE ACHIEVED IN AN AREA OF STUDY.
UNIVERSITY PROGRAM SUPPORT & EVENTS - RESOURCES IN THE WAY OF FINANCIAL SUPPORT PROVIDED TO ENHANCE THE EDUCATIONAL AND SOCIAL PROGRAMS OFFERED BY THE UNIVERSITY TO ITS STUDENTS, ALUMNI, AND THE EXTENDED COMMUNITY.
UNIVERSITY ATHLETIC PROGRAM SUPPORT - BROAD BASED SUPPORT OF THE MEN'S AND WOMEN'S INTER-COLLEGIATE ATHLETIC PROGRAM OF THE UNIVERSITY TO ASSIST IT IN BEING COMPETITIVE WITH OTHER DIVISIONAL SCHOOLS.
OTHER
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Vance Treasurer | OfficerTrustee | 2 | $0 |
John Mezzanotte Chair | OfficerTrustee | 2 | $0 |
Michael Kingan Executive Director | OfficerTrustee | 2 | $0 |
Krista Hayes Business Manager | Officer | 35 | $0 |
Christopher Borajkiewicz Director | Trustee | 2 | $0 |
J Philip Smith Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ki Concerts Llc Travel For Student Trip | 6/29/20 | $250,325 |
American Program Bureau Inc Entertainer-distinguished Lecture Paymen | 6/29/20 | $120,913 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $70,185 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,675,386 |
| Noncash contributions included in lines 1a–1f | $186,979 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,745,571 |
| Total Program Service Revenue | $54,488 |
| Investment income | $6,082 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $975,703 |
| Net Income from Fundraising Events | -$15,052 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,766,792 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,855,060 |
| Grants and other assistance to domestic individuals. | $55,316 |
| 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 | $429,435 |
| Fees for services: Legal | $4,025 |
| Fees for services: Accounting | $31,099 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $103,389 |
| Fees for services: Other | $10,900 |
| Advertising and promotion | $0 |
| Office expenses | $60,891 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,560 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,276 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $9,643 |
| All other expenses | $11,188 |
| Total functional expenses | $3,583,782 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $349,249 |
| Savings and temporary cash investments | $5,854 |
| Pledges and grants receivable | $3,831,078 |
| 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 | $62,525 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $40,794,327 |
| Investments—program-related | $269,286 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $45,312,319 |
| Accounts payable and accrued expenses | $323,007 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $215,632 |
| 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 | $9,085 |
| Total liabilities | $547,724 |
| Net assets without donor restrictions | $3,814,166 |
| Net assets with donor restrictions | $40,950,429 |
| 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 | $45,312,319 |
Grants Awarded
Over the last fiscal year, Southern Connecticut State University Foundation Inc has awarded $2,855,060 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SOUTHERN CT STATE UNIVERSITY PURPOSE: SCHOLARSHIP & GRANTS $ 1,415,206 | $2,808,060 |
New Haven, CT PURPOSE: FUNDRAISING FOR THE FOUNDATION | $47,000 |
Grants Recieved
Over the last fiscal year, we have identified 35 grants that Southern Connecticut State University Foundation Inc has recieved totaling $1,093,946.
| Awarding Organization | Amount |
|---|---|
Amour Propre Fund Inc New Haven, CT PURPOSE: GENERAL PURPOSE | $500,000 |
Stutzman Fam Foundation Naples, FL PURPOSE: FOR 2021 PLEDGE- STUTZMAN FOUNDATION MUSIC SCHOLARSHIP | $256,819 |
Economic Development Corporation Of New Haven New Haven, CT PURPOSE: To serve as a catalyst for attracting human and capital investment to the city and its neighborhoods. | $170,457 |
Wheeler Clinic Inc Plainville, CT PURPOSE: THE SOR MINI-GRANT IS USED FOR CAMPUS OPIOID AND STIMULANT EDUCATION AND AWARENESS PROGRAMS. | $45,000 |
Hartford Foundation For Public Giving Hartford, CT PURPOSE: SCHOLARSHIPS | $26,500 |
Paul L Jones Fund Waterbury, CT PURPOSE: SCHOLARSHIPS | $20,000 |
Endowment Analysis
| Beg. Balance | $37,077,101 |
| Earnings | -$4,555,578 |
| Admin Expense | $588,249 |
| Net Contributions | $1,508,937 |
| Grants | $1,222,283 |
| Ending Balance | $32,219,928 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Auxiliary Services State University College At Oswego Inc Oswego, NY | $22,384,872 | $17,397,841 |
Brown Dermatology Inc Providence, RI | $7,129,470 | $16,553,293 |
New York School Of Interior Design New York, NY | $51,839,026 | $19,439,647 |
Campus Auxiliary Services Inc Geneseo, NY | $17,284,029 | $15,748,461 |
American Friends Of University College Oxford Inc Glastonbury, CT | $206,820 | $11,471,477 |
Nysernetorg Inc Syracuse, NY | $20,513,816 | $10,109,446 |
University Auxiliary Services At Albany Inc Albany, NY | $43,160,685 | $14,879,703 |
Suny Cobleskill Auxiliary Services Inc Cobleskill, NY | $8,795,968 | $7,700,761 |
New York College Of Health Professions Syosset, NY | $13,423,184 | $7,322,070 |
Holy Apostles College & Seminary Cromwell, CT | $16,975,165 | $9,078,766 |
Central Yeshiva Tomchei Timimim Lubavitz Of The U S A Brooklyn, NY | $11,238,577 | $6,653,725 |
Ccsu Foundation Inc New Britain, CT | $90,256,311 | $11,725,462 |