Verland Endowment
- Assets
- $14.6m
- Revenue
- $723.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Sewickley, PA
- Founding
- 07/1984
- Data as of
- 06/2022
- EIN
- 25-1440467
Organization Overview
Verland Endowment is located in Sewickley, PA. The organization was established in 1984. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Verland Endowment 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, Verland Endowment generated $723.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (7.2%) each year. All expenses for the organization totaled $658.2k during the year ending 06/2022. 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
VERLAND ENDOWMENT PROVIDES SUPPORT TO THE VERLAND SYSTEM BY SOLICITING, MAINTAINING AND INVESTING AN ENDOWMENT FUND OF FUNDS TO BE USED TO MAKE CAPITAL CONTRIBUTIONS, GRANTS AND LOANS FOR FACILITY MAINTENANCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VERLAND ENDOWMENT PROVIDES SUPPORT TO MEMBERS OF THE VERLAND SYSTEM BY SOLICITING, MAINTAINING AND INVESTING AN ENDOWMENT FUND OF FUNDS TO BE USED FOR THE GENERAL FINANCIAL SYSTEM, INCLUDING THE MAKING OF CAPITAL CONTRIBUTIONS, GRANTS AND LOANS FOR THE PURPOSE OF MAINTENANCE OF FACILITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William F Harriger President & CEO | OfficerTrustee | 0.3 | $0 |
Carol B Mitchell Deputy CEO | OfficerTrustee | 0.3 | $0 |
Daniel O'malley Chairperson | OfficerTrustee | 0.3 | $0 |
David P Duessel Treasurer | OfficerTrustee | 0.3 | $0 |
Paul B Long Secretary | OfficerTrustee | 0.3 | $0 |
Raymond Huber Director | Trustee | 0.3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $23,858 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $23,858 |
| Total Program Service Revenue | $0 |
| Investment income | $337,386 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $361,830 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $723,074 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $559,631 |
| 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 | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $98,528 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $658,159 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $30,136 |
| 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 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $14,512,218 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $91,480 |
| Total assets | $14,633,834 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $2,370,401 |
| Net assets with donor restrictions | $12,263,433 |
| 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 | $14,633,834 |
Grants Awarded
Over the last fiscal year, Verland Endowment has awarded $542,982 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
THE VERLAND FOUNDATION INC PURPOSE: Fixed Assets | $200,000 |
VERLAND CLA PURPOSE: Operating Costs | $342,982 |