Christopher Newport University Educational Foundation Inc
- Assets
- $79.9m
- Revenue
- $7.1m
- Investments
- $2.8m
- Employees
- 0
- Location
- Newport News, VA
- Founding
- 02/1982
- Data as of
- 06/2021
- EIN
- 54-1156248
Organization Overview
Christopher Newport University Educational Foundation Inc is located in Newport News, VA. The organization was established in 1982. 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. Christopher Newport University Educational 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, Christopher Newport University Educational Foundation Inc generated $7.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $5.2m during the year ending 06/2021. While expenses have increased by 2.7% 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.
Since 2015, Christopher Newport University Educational Foundation Inc has awarded 16 individual grants totaling $37,301,083. 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 RECEIVE, ADMINISTER, AND DISTRIBUTE FUNDS AND PROPERTY EXCLUSIVELY IN FURTHERANCE OF THE EDUCATIONAL ACTIVITIES AND OBJECTIVES OF CHRISTOPHER NEWPORT UNIVERSITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
UNIVERSITY SUPPORT - EDUCATIONAL EXPENSES GIVEN AS DIRECT SUPPORT TO CHRISTOPHER NEWPORT UNIVERSITY.
SCHOLARSHIP AWARDS - AWARDED 230 ANNUAL SCHOLARSHIPS AND 629 ENDOWED SCHOLARSHIPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian M Eakes President | OfficerTrustee | 5 | $0 |
Gayle M Rauch Secretary | OfficerTrustee | 5 | $0 |
Terri Mcknight Vice-President | OfficerTrustee | 5 | $0 |
K Spencer Mcdonald Controller & Treasurer | Officer | 20 | $0 |
Douglas L Hornsby Chief Executive Officer | Officer | 20 | $0 |
Brian K Skinner Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,125,842 |
| Investment income | $161,304 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $1,464 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,721,864 |
| Net Income from Fundraising Events | $749 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,135,383 |
| Statement of Expenses | |
|---|---|
| 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. | $0 |
| Compensation to disqualified persons | $89,746 |
| Other salaries and wages | $9,498 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $26,113 |
| 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 | $0 |
| Fees for services: Other | $76,421 |
| Advertising and promotion | $21,290 |
| Office expenses | $20,162 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $490 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $34,576 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,851 |
| Insurance | $1,849 |
| All other expenses | $0 |
| Total functional expenses | $5,155,602 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,886,624 |
| Savings and temporary cash investments | $108,889 |
| Pledges and grants receivable | $12,091,611 |
| Accounts receivable, net | $5,415 |
| 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 | $60,707,084 |
| Investments—other securities | $2,827,928 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,187,420 |
| Total assets | $79,883,723 |
| Accounts payable and accrued expenses | $92,072 |
| 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 | $429,586 |
| Total liabilities | $521,658 |
| 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 | $79,362,065 |
Grants Awarded
Over the last fiscal year, Christopher Newport University Educational Foundation Inc has awarded $5,338,006 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CHRISTOPHER NEWPORT UNIVERSITY PURPOSE: 230 ANNUAL SCHOLARSHIPS AND 629 ENDOWED SCHOLARSHIPS. | $2,823,808 |
CHRISTOPHER NEWPORT UNIVERSITY PURPOSE: OTHER UNIVERSITY SUPPORT | $2,514,198 |
Grants Recieved
Over the last fiscal year, we have identified 17 grants that Christopher Newport University Educational Foundation Inc has recieved totaling $729,794.
| Awarding Organization | Amount |
|---|---|
Lettie Pate Whitehead Foundation Inc Atlanta, GA PURPOSE: For general scholarship support. | $205,900 |
Riverside Healthcare Association Inc Newport News, VA PURPOSE: 21-22 Ferguson Ctr Partnership | $137,500 |
Randolph D Rouse Foundation Inc Arlington, VA PURPOSE: SCHOLARSHIPS | $135,000 |
Sarah Scaife Foundation Inc Pittsburgh, PA PURPOSE: CENTER FOR AMERICAN STUDIES | $100,000 |
Noland Memorial Foundation Alexandria, VA PURPOSE: VISUAL ARTS CENTER | $50,000 |
Charles Koch Foundation Arlington, VA PURPOSE: GENERAL OPERATING SUPPORT | $40,000 |
Endowment Analysis
| Beg. Balance | $50,070,675 |
| Earnings | -$4,108,748 |
| Net Contributions | $3,043,660 |
| Grants | $1,785,698 |
| Ending Balance | $47,219,889 |