Cleveland State University Foundation is located in Cleveland, OH. The organization was established in 1969. 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. Cleveland State University 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 06/2020, Cleveland State University Foundation generated $11.4m 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 (5.2%) each year. All expenses for the organization totaled $12.8m during the year ending 06/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Cleveland State University Foundation has awarded 16 individual grants totaling $98,163,854. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE CSUF IS ORGANIZED PRIMARILY TO ENGAGE IN ACTIVITIES TO PROVIDE SUPPORT AND SERVICES TO CSU.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CLEVELAND STATE UNIVERSITY FOUNDATION (CSUF) IS A NON-PROFIT ORGANIZATION INCORPORATED UNDER THE LAWS OF THE STATE OF OHIO AND TAX-EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. AN OUTRIGHT GIFT TO THE CSUF IS A FULLY TAX-DEDUCTIBLE CHARITABLE DONATION. THE CSUF DOES NOT RECEIVE PUBLIC FUNDS, SUCH AS STATE AND FEDERAL GRANTS.STATE OF OHIO APPROPRIATIONS HELP FUND THE UNIVERSITY'S BASIC OPERATIONS. OTHER SOURCES OF REVENUE, SUCH AS STUDENT FEES AND AUXILIARY SERVICES, HELP MEET BASIC OPERATING COSTS NOT COVERED BY STATE FUNDING. PRIVATE SUPPORT, GENERATED THROUGH GIFTS TO THE CSUF, PROVIDES THE UNIVERSITY A MARGIN OF EXCELLENCE BY CREATING STUDENTS AND FACULTY RESOURCE OPPORTUNITIES FROM PRIVATE FUNDRAISING THAT WOULD OTHERWISE NOT BE AVAILABLE. THE FOUNDATION FURTHER SERVES THE UNIVERSITY BY MAINTAINING PRIVATE FUND ACCOUNTS (ENDOWMENT AND CURRENT USE) FROM ONE FISCAL YEAR TO THE NEXT.THE CSUF IS GOVERNED BY AN INDEPENDENT VOLUNTEER BOARD OF DIRECTORS, CONSISTING OF NO MORE THAN 50 DIRECTORS, AND EX-OFFICIO DIRECTORS, INCLUDING THE PRESIDENT OF THE UNIVERSITY. THE FOUNDATION'S FINANCIAL RECORDS ARE AUDITED ANNUALLY BY INDEPENDENT AUDITORS.GIFTS RECEIVED BY THE FOUNDATION FALL INTO TWO BASIC CATEGORIES; RESTRICTED AND UNRESTRICTED. UNRESTRICTED GIFTS MAY BE USED FOR UNIVERSITY PRIORITIES, PROGRAMS AND SERVICES NOT SUPPORTED BY STATE FUNDS, ENDOWMENT INCOME, OR OTHER SOURCES. MOST GIFTS RECEIVED ARE RESTRICTED FOR SPECIFIC PURPOSES AS DIRECTED BY THE DONORS, THE FOUNDATION, AND THE UNIVERSITY. FOR EXAMPLE, RESTRICTED GIFTS CAN BE DIRECTED TO A SPECIFIED ACADEMIC DEPARTMENT, SCHOLARSHIP, ETC. WHETHER RESTRICTED OR UNRESTRICTED, ANNUAL GIFTS ARE USUALLY SPENT WITHIN THE YEAR THEY ARE RECEIVED. ENDOWMENT FUNDS ARE POOLED WITH OTHER GIFTS AND INVESTED. UNDER THE DIRECTION OF THE FOUNDATION'S INVESTMENT COMMITTEE, ENDOWMENTS ARE INVESTED BY PROFESSIONAL FUND MANAGERS FOR MAXIMUM YIELD WITH MINIMUM RISK. ENDOWMENT FUNDS SUPPORT GENERAL UNIVERSITY OPERATIONS, ALL NINE ACADEMIC COLLEGES, THE SCHOOL OF NURSING, ATHLETICS, AND THE LIBRARY. IN FISCAL YEAR 2021, THE FOUNDATION RECEIVED $13.1 MILLION IN NEW GIFTS AND PLEDGES, INCLUDING $2.5 MILLION FOR SCHOLARSHIPS.AT CSU, 30% OF STUDENTS ARE FROM UNDERREPRESENTED MINORITY POPULATIONS AND MORE THAN 40% OF UNDERGRADUATES ARE THE FIRST IN THEIR FAMILIES TO ATTEND COLLEGE. MORE THAN HALF OF UNDERGRADUATES RECEIVING FEDERAL AID QUALIFY FOR THE MAXIMUM AMOUNT AND 88% OF FIRST-TIME, FULL-TIME FRESHMEN RELY ON FINANCIAL ASSISTANCE.
THE CLEVELAND SCHOOLS BOOK FUND IS AN ENDOWMENT WITHIN THE COLLEGE OF EDUCATION AND MANAGED BY THE CLEVELAND STATE UNIVERSITY FOUNDATION AS PART OF THE OVERALL INVESTMENT PORTFOLIO. OVERSIGHT IS PROVIDED BY A BOARD COMPRISED OF BOTH CSU AND NON-CSU MEMBERS.THE CLEVELAND SCHOOLS BOOK FUND HELPS STUDENTS DEVELOP READING SKILLS FOR ACADEMIC LIFE SUCCESS AND OVER THE PAST 10 YEARS HAS GROWN TO MORE THAN $5.5 MILLION. THE FUND HAS HELPED CHILDREN IN THE CLEVELAND METROPOLITAN SCHOOLS BECOME BETTER READERS AND CITIZENS BY PROVIDING EACH PRE-K TO FOURTH GRADE CLASSROOM WITH A LIBRARY OF HIGH-QUALITY STORYBOOKS THAT ARE SPECIFICALLY CHOSEN TO PRESENT MODELS OF GOOD BEHAVIOR AND CITIZENSHIP. THE BOOK FUND HAS DELIVERED OVER 200,000 BOOKS TO CLASSROOMS THROUGHOUT THE CITY, INCLUDING CAMPUS INTERNATIONAL SCHOOL, AND NEARLY 20,000 STUDENTS READ THOSE BOOKS EVERY YEAR. IN ADDITION, MORE THAN 1,000 CLASSROOMS HAVE RECEIVED SPECIFICALLY DESIGNED BOOK CASES.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Thomas E Hopkins Chair | OfficerTrustee | 10 | $0 |
Steven W Percy Vice Chair | OfficerTrustee | 10 | $0 |
Jeffrey A Vavruska Treasurer | OfficerTrustee | 10 | $0 |
Janet L Kramer Secretary | OfficerTrustee | 10 | $0 |
Julie Rehm Executive Director | Officer | 10 | $0 |
Anthony S Bakale Director | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Total Revenue from Contributions, Gifts, Grants & Similar | $9,538,004 |
Investment income | $2,326,347 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | -$538,365 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $11,409,961 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic individuals. | $214,402 |
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 | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $0 |
Fees for services: Legal | $42,710 |
Fees for services: Accounting | $33,084 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $189,056 |
Fees for services: Other | $82,935 |
Advertising and promotion | $96,560 |
Office expenses | $44,946 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $3,542 |
Travel | $13,408 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $113,976 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $0 |
All other expenses | $0 |
Total functional expenses | $12,821,465 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $3,481,791 |
Savings and temporary cash investments | $805,807 |
Pledges and grants receivable | $12,216,646 |
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 | $74,237,230 |
Investments—other securities | $19,232,338 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $258,305 |
Total assets | $110,232,117 |
Accounts payable and accrued expenses | $59,338 |
Grants payable | $0 |
Deferred revenue | $0 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $3,977,212 |
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 | $3,371,348 |
Total liabilities | $7,407,898 |
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 | $102,824,219 |
Over the last fiscal year, Cleveland State University Foundation has awarded $11,267,098 in support to 2 organizations.
Grant Recipient | Amount |
---|---|
CLEVELAND STATE UNIVERSITY PURPOSE: General Operating Support | $11,171,568 |
CLEVELAND METROPOLITAN SCHOOL DISTRICT PURPOSE: The encourage and develop reading skills in the local public schools | $95,530 |
Over the last fiscal year, we have identified 1 grants that Cleveland State University Foundation has recieved totaling $50.
Awarding Organization | Amount |
---|---|
Gannett Foundations Inc Mclean, VA PURPOSE: CHARITABLE PURPOSE | $50 |
Beg. Balance | $84,616,715 |
Earnings | $25,173,955 |
Admin Expense | $841,974 |
Net Contributions | $2,047,569 |
Grants | $3,409,129 |
Ending Balance | $107,587,136 |
Organization Name | Assets | Revenue |
---|---|---|
Immaculata University Immaculata, PA | $90,984,973 | $52,685,329 |
La Roche University Pittsburgh, PA | $39,277,168 | $46,530,372 |
Lake Erie College Painesville, OH | $81,401,421 | $39,379,084 |
Pittsburgh Technical Institute Inc Oakdale, PA | $64,231,966 | $39,911,852 |
Union College Barbourville, KY | $84,429,327 | $37,026,140 |
University Of Rio Grande Rio Grande, OH | $39,998,675 | $32,716,983 |
Wheeling Jesuit University Inc Wheeling, WV | $24,384,754 | $30,930,367 |
Wayne State University Detroit, MI | $420,994,306 | $23,111,509 |
Union Institute & University Cincinnati, OH | $9,527,741 | $17,880,804 |
Cleveland State University Foundation Cleveland, OH | $110,232,117 | $11,409,961 |
Baker College Flint, MI | $17,867,262 | $11,641,595 |
Martin University Inc Indianapolis, IN | $11,458,178 | $6,489,319 |