Alderson-Broaddus Endowment Corporation
- Assets
- $33.5m
- Revenue
- $6.7k
- Investments
- $3.7m
- Employees
- 0
- Location
- Philippi, WV
- Founding
- 09/1985
- Data as of
- 06/2022
- EIN
- 55-0652324
Organization Overview
Alderson-Broaddus Endowment Corporation is located in Philippi, WV. The organization was established in 1985. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Alderson-Broaddus Endowment Corporation 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, Alderson-Broaddus Endowment Corporation generated $6.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (50.9%) each year. All expenses for the organization totaled $469.7k 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
SUPPORT ALDERSON BROADDUS UNIVERSITY INC
Describe the Organization's Program Activity:
Part 3 - Line 4a
ALDERSON BROADDUS ENDOWMENT CORP PROVIDES SUPPORT TO ALDERSON BROADDUS UNIVERSITY THROUGH A CAPITAL LEASE AGREEMENT. THROUGH FUNDING PROVIDED BY THE ENDOWMENT CORP TO ALDERSON BROADDUS UNIVERSITY IN PRIOR YEAR, ABU AWARDED 695 SCHOLARSHIPS DURING THE YEAR ENDED JUNE 30, 2022
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chad Mayle Key Employee | Officer | 1 | $0 |
Josh Allen Key Employee | Officer | 0 | $0 |
Bruce Blankenship President | OfficerTrustee | 1 | $0 |
Reffie Trefethen Vice-President | OfficerTrustee | 1 | $0 |
Karla Hively Secretary-Treasurer | OfficerTrustee | 1 | $0 |
James Barry Trustee | Trustee | 1 | $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 | $2,358 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,358 |
| Total Program Service Revenue | $0 |
| Investment income | $165 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $4,133 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,656 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 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 | $0 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $469,703 |
| Total functional expenses | $469,703 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $38,772 |
| 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 | $0 |
| Net Land, buildings, and equipment | $1,080,747 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,705,327 |
| Investments—program-related | $28,649,489 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $33,474,335 |
| Accounts payable and accrued expenses | $55,724 |
| 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 | $28,479,435 |
| Other liabilities | $359,940 |
| Total liabilities | $28,895,099 |
| Net assets without donor restrictions | $2,409,886 |
| Net assets with donor restrictions | $2,169,350 |
| 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 | $33,474,335 |