Towson University Foundation Inc is located in Towson, MD. The organization was established in 1970. 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 06/2021, Towson University Foundation Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Towson 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 06/2021, Towson University Foundation Inc generated $15.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 15.5% each year . All expenses for the organization totaled $6.1m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Towson University Foundation Inc has awarded 24 individual grants totaling $26,585,383. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO RAISE, INVEST, AND DISBURSE FUNDS FOR THE BENEFIT OF TOWSON UNIVERSITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS AND AWARDS - TOWSON UNIVERSITY FOUNDATION IS COMMITTED TO PROVIDING STUDENTS WITH THE OPPORTUNITY TO OBTAIN A LIBERAL EDUCATION - AN EDUCATION THAT HELPS STUDENTS DEVELOP THE ABILITY TO THINK CRITICALLY; TO BE LITERATE, INFORMED AND ARTICULATE; TO HONOR DIVERSITY; TO DISCUSS AND DEBATE IDEAS AND ISSUES FROM MULTIPLE PERSPECTIVES, AND TO BE CAPABLE OF TAKING ON RESPONSIBILITY IN AN EVER-CHANGING WORLD. TO CREATE THOSE OPPORTUNITIES, MANY STUDENTS NEED AND DESERVE FINANCIAL ASSISTANCE. AS OF JUNE 30, 2021, TOWSON UNIVERSITY FOUNDATION HAD 324 ENDOWED SCHOLARSHIPS AND PRESENTS ADDITIONAL CASH AWARDS EACH YEAR TO DESERVING STUDENTS FROM EXISTING OPERATING FUNDS. SINCE STATE OF MARYLAND FUNDING NOW ACCOUNTS FOR LESS THAN 1/3 OF THE COST OF A TOWSON UNIVERSITY EDUCATION, PRIVATE FUNDING FROM GENEROUS DONORS ALLOWS TODAY'S STUDENTS AND TOMORROW'S LEADERS TO MEET THEIR FINANCIAL OBLIGATIONS. IN THE FISCAL YEAR ENDING JUNE 30, 2021, THE FOUNDATION MADE 1,144 SEPARATE SCHOLARSHIP AWARDS TO DESERVING STUDENTS TOTALING $2,118,399.ADDITIONALLY, 433 STUDENTS RECEIVED A TOTAL OF $100,200 IN STUDENT EMERGENCY AWARDS, WITH INDIVIDUAL AWARDS RANGING FROM $50 - $400.
UNIVERSITY SUPPORT - TO CREATE AN ENVIRONMENT THAT IS CONDUCIVE TO LEARNING, INSTITUTIONS OF HIGHER LEARNING MUST HAVE PROPER FACILITIES AND FACULTY DEDICATED TO TEACHING. FUNDS ARE MADE AVAILABLE FOR USE BY THE UNIVERSITY PRESIDENT, THE VICE PRESIDENTS AND THE DEANS OF THE SEVEN COLLEGES TO SUPPORT AREAS WHERE IMPROVEMENTS ARE NEEDED. WE REMAIN COMMITTED TO OUR GOAL OF HELPING THE UNIVERSITY ATTRACT, HIRE AND RETAIN FACULTY MEMBERS WHO ARE LEADERS IN THEIR FIELD OF STUDY, AND WHO HAVE DEMONSTRATED SUPERIOR TEACHING SKILLS. TO KEEP THEM CURRENT ON NEW DEVELOPMENTS IN THEIR FIELD AND TEACHING METHODS, THEY ARE ENCOURAGED TO PERFORM RESEARCH AND TO ATTEND SEMINARS AND CONFERENCES. IN ADDITION TO FUNDING PROVIDED BY DONORS, THE FOUNDATION ALSO MAKES FUNDS AVAILABLE TO THE UNIVERSITY THROUGH THE UNRESTRICTED BUDGET PROCESS THAT HELPED TO SUPPORT THE VARIOUS PRESIDENTIAL INITIATIVES. THESE ARE INITIATIVES THAT MIGHT OTHERWISE NOT MOVE FORWARD DUE TO THE LACK OF OTHER FUNDING SOURCES.
ATHLETIC PROGRAMS - THE FOUNDATION SOLICITS AND MANAGES FUNDS IN SUPPORT OF THE UNIVERSITY'S ALIGNED VISION FOR ATHLETICS, WHICH STATES "TOWSON UNIVERSITY IS COMMITTEED TO A FINANCIALLY STABLE, GENDER-EQUITABLE AND COMPETITIVE ATHLETICS PROGRAM. THE UNIVERSITY WILL CONTINUE TO SUPPORT THESE GOALS BY PLACING ACADEMICS FIRST. WE WILL SUPPORT OPPORTUNITIES FOR ALL TOWSON STUDENTS TO PARTICIPATE IN A RANGE OF SPORTS ACTIVITIES AND LEADERSHIP OPPORTUNITIES THAT SUPPORT PHYSICAL WELL-BEING AND PERSONAL EXCELLENCE." THE UNIVERSITY CURRENTLY FIELDS 19 DIVISION I ATHLETIC TEAMS (13 IN WOMEN'S SPORTS, 6 IN MEN'S SPORTS).
THE $1,312,107 OF OTHER PROGRAM SERVICE EXPENSES RELATE TO EXPENSES THAT SUPPORT THE VARIETY OF PROGRAMS OFFERED BY TOWSON UNIVERSITY FOR THE BENEFIT OF THE STUDENTS, FACULTY AND STAFF OF THE UNIVERSITY. ALL EXPENSES SUPPORT THE CORE MISSION OF THE FOUNDATION AND THEREFORE THAT OF THE UNIVERSITY AS WELL. THE FOUNDATION EXISTS TO SUPPORT THE UNIVERSITY THROUGH THESE EXPENDITURES.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
John J Mease Jr Vice President/ CFO | Officer | 50 | $153,010 |
J William Murray President | OfficerTrustee | 4 | $0 |
Salvatore Correnti Vice President | OfficerTrustee | 2 | $0 |
Edna Primrose Vice President | OfficerTrustee | 2 | $0 |
David M Vahos Vice President | OfficerTrustee | 2 | $0 |
Kim A Fabian Vice President | OfficerTrustee | 2 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Chartwells Dining Services Food Services | 6/29/20 | $340,995 |
Ruffalo Noel Levitz Project Management | 6/29/20 | $246,094 |
Chartwells Dining Services Food Services | 6/29/20 | $340,995 |
Ruffalo Noel Levitz Project Management | 6/29/20 | $246,094 |
Statement of Revenue | |
---|---|
Federated campaigns | $28,185 |
Membership dues | $0 |
Fundraising events | $32,680 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $8,504,048 |
Noncash contributions included in lines 1a–1f | $401,072 |
Total Revenue from Contributions, Gifts, Grants & Similar | $8,564,913 |
Total Program Service Revenue | $19,301 |
Investment income | $1,853,075 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $4,105 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $4,991,829 |
Net Income from Fundraising Events | $42,385 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $15,736,271 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $3,671,025 |
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. | $153,010 |
Compensation of current officers, directors, key employees. | $153,010 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $183,761 |
Pension plan accruals and contributions | $24,345 |
Other employee benefits | $12,370 |
Payroll taxes | $25,203 |
Fees for services: Management | $0 |
Fees for services: Legal | $10,455 |
Fees for services: Accounting | $52,516 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $259,845 |
Fees for services: Other | $570,417 |
Advertising and promotion | $123,687 |
Office expenses | $36,806 |
Information technology | $113,877 |
Royalties | $0 |
Occupancy | $22,132 |
Travel | $6,896 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $13,064 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $852 |
Insurance | $436,726 |
All other expenses | $29,973 |
Total functional expenses | $6,132,741 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $299 |
Savings and temporary cash investments | $3,832,217 |
Pledges and grants receivable | $2,721,399 |
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 | $56,027 |
Net Land, buildings, and equipment | $142 |
Investments—publicly traded securities | $86,430,947 |
Investments—other securities | $16,527,891 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $440,123 |
Total assets | $110,009,045 |
Accounts payable and accrued expenses | $694,785 |
Grants payable | $3,650 |
Deferred revenue | $3,425 |
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 | $701,860 |
Net assets without donor restrictions | $4,599,785 |
Net assets with donor restrictions | $104,707,400 |
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 | $110,009,045 |
Over the last fiscal year, Towson University Foundation Inc has awarded $3,637,058 in support to 3 organizations.
Grant Recipient | Amount |
---|---|
TOWSON UNIVERSITY PURPOSE: SCHOLARSHIPS AND AWARDS TO VARIOUS RECIPIENTS | $2,218,599 |
TOWSON UNIVERSITY PURPOSE: SEE SCHEDULE I PART IV | $1,291,033 |
TOWSON UNIVERSITY PURPOSE: EQUIPMENT FOR USE OF TOWSON UNIVERSITY STUDENTS | $127,426 |
Over the last fiscal year, we have identified 5 grants that Towson University Foundation Inc has recieved totaling $47,000.
Awarding Organization | Amount |
---|---|
Peggy & Yale Gordon Chcaritable Tr Towson, MD PURPOSE: ENDOWMENT FOR GUEST ARTIST | $25,000 |
Peggy & Yale Gordon Chcaritable Tr Towson, MD PURPOSE: ENDOWMENT FOR CLASSICAL MUSIC PERFOR | $10,000 |
The Huether Foundation Inc Phoenix, MD PURPOSE: HUETHER/MCCLELLAND ENDOWMENT FOR TOP 10 SCHOLARS | $5,000 |
P O W E R Foundation Inc Baltimore, MD PURPOSE: EDUCATIONAL | $5,000 |
Peggy & Yale Gordon Chcaritable Tr Towson, MD PURPOSE: MUSIC PROGRAM | $2,000 |
Beg. Balance | $66,953,116 |
Earnings | $19,184,261 |
Admin Expense | $734,853 |
Net Contributions | $2,709,472 |
Other Expense | $586,793 |
Grants | $1,400,111 |
Ending Balance | $86,125,092 |
Organization Name | Assets | Revenue |
---|---|---|
University Of Virginia Investment Management Company Charlottesville, VA | $10,038,884,501 | $457,345,731 |
University Of Maryland Obstetrical And Gynecological Associates P A Baltimore, MD | $13,649,114 | $19,437,289 |
St Coletta Special Education Charter School Washington, DC | $5,593,916 | $18,247,797 |
Unidel Foundation Inc Greenville, DE | $452,249,782 | $36,851,681 |
Educational Foundation Of America Bethesda, MD | $294,733,951 | $32,812,396 |
Old Dominion University Educational Foundation Norfolk, VA | $390,141,589 | $33,517,872 |
Marshall University Foundation Incorporated Huntington, WV | $365,151,220 | $39,444,191 |
Virginia Commonwealth University Foundation Richmond, VA | $117,210,353 | $9,637,107 |
University Of Virginia Healt Foundation Charlottesville, VA | $89,840,390 | $9,560,297 |
St Catherines School Foundation Richmond, VA | $65,797,019 | $8,901,214 |
Eastern Virginia Medical School Foundation Norfolk, VA | $165,919,612 | $19,028,464 |
Employee Benefit Trust Of Northampton Co Area Community Coll Bethlehem, PA | $1,194,772 | $10,407,527 |