Salisbury University Foundation Inc
- Assets
- $98.0m
- Revenue
- $9.5m
- Investments
- $88.8m
- Employees
- 0
- Location
- Salisbury, MD
- Founding
- 01/1979
- Data as of
- 06/2022
- EIN
- 52-1127396
Organization Overview
Salisbury University Foundation Inc is located in Salisbury, MD. The organization was established in 1979. 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. Salisbury 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 06/2022, Salisbury University Foundation Inc generated $9.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $4.6m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Salisbury University Foundation Inc has awarded 44 individual grants totaling $15,655,203. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ENRICH THE ACTIVITIES, EDUCATIONAL PROGRAMS, ATHLETICS AND SCHOLARSHIPS OF SALISBURY UNIVERSITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACADEMIC ADMINISTRATION
ENDOWED COLLEGES AND SCHOOLS
ATHLETICS AND CAMPUS RECREATION
OUTREACH
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jason Curtin Executive Director | OfficerTrustee | 5 | $0 |
Steve Farrow Vice Chair | OfficerTrustee | 2 | $0 |
Michele Garigliano Chair | OfficerTrustee | 2 | $0 |
Amy Tilghman Miller Immediate Past Chairman | OfficerTrustee | 2 | $0 |
David Rommel Vice Chair | OfficerTrustee | 2 | $0 |
Ashley Stern Secretary | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $40,155 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,994,410 |
| Noncash contributions included in lines 1a–1f | $227,215 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,034,565 |
| Total Program Service Revenue | $251,707 |
| Investment income | $3,038,735 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $250,859 |
| Net Income from Fundraising Events | -$81,976 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,520,292 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,853,109 |
| Grants and other assistance to domestic individuals. | $193,112 |
| 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 | $788,383 |
| 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 | $168,404 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,398 |
| Travel | $263,233 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $63,674 |
| Interest | $39,592 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,746 |
| Insurance | $0 |
| All other expenses | $90,111 |
| Total functional expenses | $4,599,128 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $980,097 |
| Savings and temporary cash investments | $985,658 |
| Pledges and grants receivable | $3,208,636 |
| Accounts receivable, net | $73,062 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,971 |
| Prepaid expenses and deferred charges | $60,284 |
| Net Land, buildings, and equipment | $139,229 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $88,772,922 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,806,336 |
| Total assets | $98,030,195 |
| Accounts payable and accrued expenses | $21,154 |
| Grants payable | $0 |
| Deferred revenue | $225,612 |
| 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 | $1,752,486 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $375,251 |
| Total liabilities | $2,374,503 |
| Net assets without donor restrictions | $9,563,705 |
| Net assets with donor restrictions | $86,091,987 |
| 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 | $98,030,195 |
Grants Awarded
Over the last fiscal year, Salisbury University Foundation Inc has awarded $324,153 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
SALISBURY UNIVERSITY PURPOSE: DONATION FOR DELMARVA PUBLIC RADIO | $209,622 |
SALISBURY UNIVERSITY PURPOSE: DONATION FOR THE WARD MUSEUM | $95,000 |
SALISBURY UNIVERSITY PURPOSE: OTHER STUDENT ACTIVITIES | $10,531 |
SALISBURY UNIVERSITY PURPOSE: STUDENT ACTIVITIES PROGRAM | $9,000 |
Grants Recieved
Over the last fiscal year, we have identified 18 grants that Salisbury University Foundation Inc has recieved totaling $430,393.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of The Eastern Shore Inc Salisbury, MD PURPOSE: EDUCATION | $186,806 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $57,600 |
Nathan Foundation Inc Cambridge, MD PURPOSE: GENERAL SUPPORT | $44,000 |
Arthur W Perdue Foundation Inc Wilmington, DE PURPOSE: PERDUE ABLE SUSTAINABILITY FUND | $37,500 |
Bny Mellon Charitable Gift Fund Boston, MA PURPOSE: TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE | $25,000 |
Ayco Charitable Foundation Cohoes, NY PURPOSE: EDUCATION | $17,000 |
Endowment Analysis
| Beg. Balance | $77,647,210 |
| Earnings | -$11,899,440 |
| Net Contributions | $3,641,094 |
| Other Expense | $5,008,252 |
| Ending Balance | $64,380,612 |
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 |