Youngstown State University Foundation
- Assets
- $333.9m
- Revenue
- $29.0m
- Investments
- $38.4m
- Employees
- 24
- Location
- Youngstown, OH
- Founding
- 12/1966
- Data as of
- 06/2023
- EIN
- 34-6576610
Organization Overview
Youngstown State University Foundation is located in Youngstown, OH. The organization was established in 1966. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2023, Youngstown State University Foundation employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Youngstown 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 06/2023, Youngstown State University Foundation generated $29.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $19.5m during the year ending 06/2023. While expenses have increased by 2.9% per year over the past 8 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT YOUNGSTOWN STATE UNIVERSITY BY PROVIDING SCHOLARSHIPS AND PROGRAMATIC SUPPORT.
Describe the Organization's Program Activity:
THE YOUNGSTOWN STATE UNIVERSITY FOUNDATION IS AN INDEPENDENT, AUTONOMOUS, PRIVATE, NON-PROFIT CORPORATION THAT PURSUES, MANAGES AND DISTRIBUTES RESOURCES TO SUPPORT SCHOLARSHIPS AND STUDENT INITIATIVES, AS WELL AS THE GROWTH AND DEVELOPMENT OF YOUNGSTOWN STATE UNIVERSITY.THE YOUNGSTOWN STATE UNIVERSITY FOUNDATION WILL BE A CATALYTIC FORCE FOR THE ADVANCEMENT OF YSU, THE YOUNGSTOWN COMMUNITY, AND NORTHEAST OHIO, AND WILL BE A CRITICAL SOURCE OF SUPPORT, OPPORTUNITY, AND EXCELLENCE FOR YSU STUDENTS AND UNIVERSITY PROGRAMS.THE COMPETITION FOR STUDENTS IN HIGHER EDUCATION HAS NEVER BEEN GREATER. THE YSU FOUNDATION, PROVIDING OVER $16.3 MILLION IN ANNUAL SCHOLARSHIP AID, HAS HISTORICALLY DESIGNED SCHOLARSHIP AWARDS TO PROVIDE ACCESS TO ATTEND YSU. TWO OF THE YSU FOUNDATION'S IMPORTANT INITIATIVES ARE THE MINORITY SCHOLARSHIP MATCH PROGRAM AND THE STUDENT INVESTMENT FUND. FOR THE PAST DECADE, THE YSU FOUNDATION HAS MATCHED ALL GIFTS TO MINORITY SCHOLARSHIPS. THIS HAS ATTRACTED OVER $2,269,267 IN GIFTS, HELPING YSU INCREASE THE DIVERSITY OF ITS STUDENT BODY. THE FOUNDATION ALSO PROVIDES GRANTS TO YOUNGSTOWN STATE UNIVERSITY FOR THE PURPOSE OF LECTURES AND SYMPOSIUMS AND FOR THE OPERATIONS OF VARIOUS DEPARTMENTS AND CENTERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ed Muransky Chair/trustee | OfficerTrustee | 1 | $0 |
Frank Hierro Immediate Past Chair/trust | OfficerTrustee | 1 | $0 |
Nader Atway Vice Chair/trustee | OfficerTrustee | 1 | $0 |
Theodore Schmidt Treasurer/trustee | OfficerTrustee | 1 | $0 |
John Moliterno Assistant Treasurer/truste | OfficerTrustee | 1 | $0 |
Jude Nohra Secretary/trustee | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Skybridge Capital Llc Investment Management | 6/29/20 | $216,456 |
Graystone Consulting Investment Management | 6/29/20 | $354,042 |
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 | $15,837,814 |
| Noncash contributions included in lines 1a–1f | $2,306,269 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,837,814 |
| Total Program Service Revenue | $0 |
| Investment income | $7,754,895 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,388,077 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $28,980,786 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $16,286,223 |
| 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. | $293,250 |
| Compensation of current officers, directors, key employees. | $92,647 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,035,585 |
| Pension plan accruals and contributions | $47,945 |
| Other employee benefits | $119,436 |
| Payroll taxes | $92,361 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $18,619 |
| Fees for services: Accounting | $59,305 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $915,653 |
| Fees for services: Other | $51,025 |
| Advertising and promotion | $221,047 |
| Office expenses | $50,576 |
| Information technology | $79,062 |
| Royalties | $0 |
| Occupancy | $66,750 |
| Travel | $41,774 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $29,136 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $31,259 |
| Insurance | $37,669 |
| All other expenses | $1,663 |
| Total functional expenses | $19,528,304 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $7,288,180 |
| Pledges and grants receivable | $12,562,431 |
| 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 | $526,685 |
| Net Land, buildings, and equipment | $209,156 |
| Investments—publicly traded securities | $272,325,321 |
| Investments—other securities | $38,418,582 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,597,639 |
| Total assets | $333,927,994 |
| Accounts payable and accrued expenses | $929,318 |
| Grants payable | $10,902,150 |
| 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 | $11,831,468 |
| Net assets without donor restrictions | $163,890,047 |
| Net assets with donor restrictions | $158,206,479 |
| 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 | $333,927,994 |