West Virginia University Alumni Association Loyalty Permanent Endo
- Assets
- $14.4m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Morgantown, WV
- Founding
- 11/1946
- Data as of
- 06/2022
- EIN
- 55-0450592
Organization Overview
West Virginia University Alumni Association Loyalty Permanent Endo is located in Morgantown, WV. The organization was established in 1946. According to its NTEE Classification (B84) the organization is classified as: Alumni Associations, 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. West Virginia University Alumni Association Loyalty Permanent Endo 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, West Virginia University Alumni Association Loyalty Permanent Endo generated $1.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.6% each year . All expenses for the organization totaled $653.8k during the year ending 06/2022. 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
PROVIDE SCHOLARSHIPS TO WEST VIRGINIA UNIVERSITY STUDENTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE WEST VIRGINIA UNIVERSITY ALUMNI ASSOCIATION LOYALTY PERMANENT ENDOWMENT FUND WAS ESTABLISHED BY THE WEST VIRGINIA UNIVERSITY ALUMNI ASSOCIATION BY TRUST INDENTURE DATED 12/31/37. THE ALUMNI ASSOCIAITON IS AN EXEMPT ORGANIZATION UNDER SECTION 501(C)6 OF THE IRC BY EXEMPTION LETTER DATED 2/3/53 AND THE FUND IS EXEMPT UNDER SECTION 501 (C) OF THE CODE BY LETTER DATED 11/20/46.THE TRUST INDENTURE DIRECTS THAT THE NET INCOME FROM THE FUND IS TO BE MADE AVAILABLE TO THE TRUST COMMITTEE WHICH IS COMPOSED OF DULY APPOINTED MEMBERS OF THE ALUMNI ASSOCIATION TO BE USED BY THE COMMITTEE TO CARRY OUT SPECIFIED PURPOSES OF THE ALUMNI ASSOC. THOSE PURPOSES AS SPECIFIED IN THE TRUST INDENTURE ARE TO PROVIDE FUNDS FOR MAINTENANCE AND ADMINISTRATIVE EXPENSES AT WVU AND TO PROVIDE SCHOLARSHIPS AT WEST VIRGINIA UNIVERSITY TO STUDENTS SELECTED BY THE TRUST COMMITTEE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Trustee | 5 | $53,411 | |
Kevin Berry Executive Se | OfficerTrustee | $0 | |
The Honorable Irene C Berger Member | Trustee | $0 | |
James C Gardill Chairman | Trustee | $0 | |
David K Hendrickson Member | Trustee | $0 |
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 | $72,436 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $72,436 |
| Total Program Service Revenue | $0 |
| Investment income | $278,137 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $945,137 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,295,710 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $569,452 |
| 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 | $0 |
| 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 | $2,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $6,257 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $12,000 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $653,803 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $996,254 |
| Pledges and grants receivable | $0 |
| 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 | $10,321 |
| Net Land, buildings, and equipment | $20 |
| Investments—publicly traded securities | $13,432,812 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $14,439,407 |
| Accounts payable and accrued expenses | $11,999 |
| 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 | $11,999 |
| Net assets without donor restrictions | $14,339,301 |
| Net assets with donor restrictions | $88,107 |
| 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 | $14,439,407 |