Bowie State University Foundation
- Assets
- $45.9m
- Revenue
- $9.6m
- Investments
- $38.5m
- Employees
- 0
- Location
- Bowie, MD
- Founding
- 04/1972
- Data as of
- 06/2022
- EIN
- 52-0952758
Organization Overview
Bowie State University Foundation is located in Bowie, MD. The organization was established in 1972. 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. Bowie 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 06/2022, Bowie State University Foundation generated $9.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 34.6% each year . All expenses for the organization totaled $2.8m during the year ending 06/2022. While expenses have increased by 18.8% 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
TO FACILITATE FUNDRAISING AND STEWARDSHIP EFFORTS OF BOWIE STATE UNIVERSITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENSES REFLECT GRANTS TO BOWIE STATE UNIVERSITY FOR SCHOLARSHIPS AWARDED TO STUDENTS IN SUPPORT OF EFFORTS TO ADDRESS RETENTION NEEDS, IMPROVE THE GRADUATION RATE, AND BRIDGE GAP FUNDING AND ENHANCE RECRUITMENT.
EXPENDITURES/TRANSACTIONS REFLECT SUPPORT FOR BOWIE STATE UNIVERSITY PROGRAMS AND STUDENT EXPERIENCES, AS WELL AS TRANSACTIONS FOR CAMPUS OPERATIONS, INFRASTRUCTURE AND COMPLAINCE CONCERNS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daphne DE Shields Chief Financial Officer | Officer | 20 | $46,484 |
Brent Swinton Executive Director | Officer | 3 | $12,216 |
Alfonzo Powell Vice Chair | OfficerTrustee | 2 | $0 |
James Selvaggi Treasurer | OfficerTrustee | 2 | $0 |
Ron Busby Secretary | OfficerTrustee | 1 | $0 |
Gordon Sampson Chair | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bowie State University Student Scholarships, Awards, Housing, B | 6/29/20 | $618,397 |
Baltimore Contractors Inc Saxby Cafe Contruction | 6/29/20 | $300,000 |
Umf Inc Bsuf Endowment Donations - Transfer | 6/29/20 | $132,110 |
Bowie State University Student Scholarships, Awards, Housing, B | 6/29/20 | $618,397 |
Umf Inc Bsuf Endowment Donations - Transfer | 6/29/20 | $132,110 |
Baltimore Contractors Inc Saxby Cafe Contruction | 6/29/20 | $300,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $33,172 |
| Related organizations | $0 |
| Government grants | $500,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,437,423 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,970,595 |
| Total Program Service Revenue | $0 |
| Investment income | $625,304 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,698,239 |
| Net Income from Fundraising Events | -$12,749 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,577,897 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,381,279 |
| 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. | $90,420 |
| Compensation of current officers, directors, key employees. | $30,140 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $18,000 |
| 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 | $28,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $403,042 |
| Fees for services: Other | $563,330 |
| Advertising and promotion | $1,887 |
| Office expenses | $21,253 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $7,670 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $548 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $7,569 |
| All other expenses | $14,934 |
| Total functional expenses | $2,819,158 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,659,723 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $2,518,451 |
| Accounts receivable, net | $197,758 |
| 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 | $0 |
| Investments—other securities | $38,477,302 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $45,853,234 |
| Accounts payable and accrued expenses | $1,099,722 |
| 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 | $1,099,722 |
| Net assets without donor restrictions | $24,893,469 |
| Net assets with donor restrictions | $19,860,043 |
| 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 | $45,853,234 |
Grants Awarded
Over the last fiscal year, Bowie State University Foundation has awarded $1,381,279 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
BOWIE STATE UNIVERSTIY PURPOSE: TO ASSIST BOWIE STATE UNIVERSITY AWARD SCHOLARSHIPS TO STUDENTS IN SUPPORT OF EFFORTS TO ADDRESS RETENTION NEEDS, IMPROVE THE GRADUATION RATE, AND BRIDGE GAP FUNDING AND ENHANCE RECRUITMENT. | $953,945 |
BOWIE STATE UNIVERSTIY PURPOSE: GRANTS TO SUPPORT BOWIE STATE UNIVERSITY AND ITS MISSION, PROGRAMS AND STUDENT EXPERIENCES | $427,334 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Bowie State University Foundation has recieved totaling $329,834.
| Awarding Organization | Amount |
|---|---|
Strada Education Network Inc Indianapolis, IN PURPOSE: OPERATING GRANT | $119,500 |
Columbus Foundation Columbus, OH PURPOSE: EDUCATION | $100,000 |
Icon360 Inc Brooklyn, NY PURPOSE: HBCU FASHION DEPARTMENT SUPPORT | $50,000 |
Jack And Jill Of America Foundation Inc Washington, DC PURPOSE: SCHOLARSHIP | $29,107 |
Tulsa Community Foundation Tulsa, OK PURPOSE: SCHOLARSHIP | $10,000 |
Americas Charities Chantilly, VA PURPOSE: GENERAL SUPPORT | $7,439 |
Endowment Analysis
| Beg. Balance | $10,286,965 |
| Earnings | $100,332 |
| Net Contributions | $2,837,588 |
| Other Expense | $1,087,974 |
| Ending Balance | $12,136,911 |
Peer Organizations
| 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 |