University Of Alaska Foundation
- Assets
- $526.9m
- Revenue
- $78.9m
- Investments
- $395.9m
- Employees
- 0
- Location
- Anchorage, AK
- Founding
- 09/1974
- Data as of
- 06/2022
- EIN
- 23-7394620
Organization Overview
University Of Alaska Foundation is located in Anchorage, AK. The organization was established in 1974. 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. University Of Alaska 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 06/2022, University Of Alaska Foundation generated $78.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 25.1% each year . All expenses for the organization totaled $22.4m during the year ending 06/2022. While expenses have increased by 2.4% 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
SEEK, SECURE, AND STEWARD PHILANTHROPIC SUPPORT TO BUILD EXCELLENCE AT UNIVERSITY OF ALASKA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACADEMIC PROGRAM SUPPORT: THE FOUNDATION ACCEPTS, MANAGES, AND ACTS AS FIDUCIARY FOR ALL MONETARY GIFTS RECEIVED ON BEHALF OF THE UNIVERSITY OF ALASKA (UA). OVER 50% OF PROGRAM EXPENSES GO TO SUPPORT ACADEMIC SERVICES, FACILITIES, AND RELATED INFRASTRUCTURE ACROSS THE UA SYSTEM.
STUDENT & PUBLIC SUPPORT: THE FOUNDATION ADMINISTERS CHARITABLE GIFTS INTENDED BY DONORS TO ENHANCE STUDENT LIFE, COMMUNITY ENGAGEMENT, AND PUBLIC LEARNING. THESE INCLUDE UA ATHLETICS, RADIO/TV STATIONS, LIBRARY, MUSEUM, AND COOPERATIVE EXTENSION SERVICES AMONG OTHERS. SUPPORT IS ACCOMPLISHED THROUGH REIMBURSEMENT OF UA PERSONNEL COSTS, TRAVEL, OPERATING EXPENSES, AND CAPITAL EXPENDITURES.
STUDENT FINANCIAL AID: THE FOUNDATION RECEIVES MONETARY CONTRIBUTIONS FROM DONORS FOR THE BENEFIT OF THE UNIVERSITY OF ALASKA STUDENTS. SCHOLARSHIPS ARE AVAILABLE TO STUDENTS BASED ON MERIT, FINANCIAL NEED, OUTSTANDING ACHIEVEMENT IN SPECIALIZED FIELDS, OR ANY COMBINATION OF THESE CRITERIA. IN FY23, THE FOUNDATION AWARDED 2,249 SCHOLARSHIPS TO 1,823 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pat Pitney Director | Trustee | 0.5 | $0 |
Dan White Director | Trustee | 0.5 | $0 |
Karen Carey Director | Trustee | 0.5 | $0 |
Sean Parnell Director | Trustee | 0.5 | $0 |
Laura Bruce Chair | OfficerTrustee | 1 | $0 |
Megan Nordale Vice Chair | OfficerTrustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
University Of Alaska Foundation Staffing | 6/29/23 | $3,323,964 |
Ruffalo Noel Levitz Llc Fundraising | 6/29/23 | $188,642 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $262 |
| Fundraising events | $19,000 |
| Related organizations | $1,676,767 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $18,646,794 |
| Noncash contributions included in lines 1a–1f | $1,212,650 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $20,342,823 |
| Total Program Service Revenue | $0 |
| Investment income | $4,859,185 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $2,059 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $53,721,880 |
| Net Income from Fundraising Events | $21,840 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $78,947,787 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $9,638,458 |
| Grants and other assistance to domestic individuals. | $4,819,940 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,846,268 |
| Compensation of current officers, directors, key employees. | $1,828,296 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $361,594 |
| Pension plan accruals and contributions | $94,658 |
| Other employee benefits | $580,588 |
| Payroll taxes | $319,108 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,999 |
| Fees for services: Accounting | $18,824 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $102,783 |
| Fees for services: Investment Management | $3,346,923 |
| Fees for services: Other | $36,154 |
| Advertising and promotion | $15,281 |
| Office expenses | $59,931 |
| Information technology | $469,965 |
| Royalties | $0 |
| Occupancy | $111,776 |
| Travel | $42,603 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $81,859 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $7,104 |
| All other expenses | $0 |
| Total functional expenses | $22,369,561 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $10,269,004 |
| Pledges and grants receivable | $12,741,869 |
| 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 | $133,982 |
| Prepaid expenses and deferred charges | $139,227 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $104,909,073 |
| Investments—other securities | $395,929,420 |
| Investments—program-related | $1,803,322 |
| Intangible assets | $0 |
| Other assets | $997,226 |
| Total assets | $526,923,123 |
| Accounts payable and accrued expenses | $686,694 |
| Grants payable | $3,852,255 |
| Deferred revenue | $20,990 |
| 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 | $170,219,695 |
| Total liabilities | $174,779,634 |
| Net assets without donor restrictions | $27,455,155 |
| Net assets with donor restrictions | $324,688,334 |
| 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 | $526,923,123 |