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 06/2021, Alderson-Broaddus Endowment Corporation generated $1.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $1.1m during the year ending 06/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE SUPPORT TO ALDERSON BROADDUS UNIVERSITY, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ALERDSON BROADDUS ENDOWMENT CORPORATION PROVIDES SUPPORT TO ALDERSON BROADDUS UNIVERSITY THROUGH A CAPITAL LEASE AGREEMENT. THROUGH FUNDING PROVIDED BY THE ENDOWMENT CORP TO ALDERSON-BROADDUS UNIVERSITY IN PRIOR YEARS, ABU AWARDED 717 SCHOLARSHIPS DURING THE YEAR ENDED JUNE 30, 2021.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Bruce Blankenship President | OfficerTrustee | 1 | $0 |
James Tim Barry Trustee | OfficerTrustee | 1 | $0 |
Reggie Trefethen Vice-President | OfficerTrustee | 1 | $0 |
Jeff Rogers Trustee | Officer | 1 | $0 |
Jeffery Woofter Trustee | Trustee | 1 | $0 |
Brenda Hunt Trustee | Trustee | 1 | $0 |
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 | $2,429 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $2,429 |
Total Program Service Revenue | $1,081,040 |
Investment income | $483 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $1,849 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $24,889 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $1,110,690 |
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 | $813 |
Fees for services: Other | $0 |
Advertising and promotion | $0 |
Office expenses | $582 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $1,469 |
Travel | $48 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $1,094,515 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $3,085 |
Insurance | $0 |
All other expenses | $0 |
Total functional expenses | $1,100,512 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $34,600 |
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 | $1,083,831 |
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 | $33,473,247 |
Accounts payable and accrued expenses | $60,709 |
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 | $28,151,578 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $1,210,401 |
Total liabilities | $29,422,688 |
Net assets without donor restrictions | $2,382,828 |
Net assets with donor restrictions | $1,667,731 |
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 | $33,473,247 |
Beg. Balance | $1,044,212 |
Earnings | -$266,136 |
Ending Balance | $778,076 |
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