Marshall University Foundation Incorporated
- Assets
- $365.2m
- Revenue
- $39.4m
- Investments
- $68.5m
- Employees
- 51
- Location
- Huntington, WV
- Founding
- 11/1951
- Data as of
- 06/2021
- EIN
- 55-6011111
Organization Overview
Marshall University Foundation Incorporated is located in Huntington, WV. The organization was established in 1951. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2021, Marshall University Foundation Incorporated employed 51 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Marshall University Foundation Incorporated 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, Marshall University Foundation Incorporated generated $39.4m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 30.1% each year . All expenses for the organization totaled $13.8m during the year ending 06/2021. While expenses have increased by 0.6% per year over the past 6 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MARSHALL UNIVERSITY FOUNDATION WAS CHARTERED ON JANUARY 3, 1947 AS AN INDEPENDENT NON-PROFIT ORGANIZATION TO RECEIVE, INVEST, ADMINISTER AND DISBURSE PRIVATE RESOURCES ON BEHALF OF MARSHALL UNIVERSITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES SUPPORT IN THE FORM OF SCHOLARSHIPS AND AWARDS TO FACULTY AND STUDENTS RELATED TO THEIR EDUCATIONAL PURSUITS AT THE UNIVERSITY
THE ORGANIZATION PROVIDES SUPPORT TO THE UNIVERSITY BROADLY AND TO INDIVIDUAL DEPARTMENTS IN SUPPORT OF THEIR RESPECTIVE EDUCATION PRIORITIES IN THE FORM OF PAYROLL AND STIPEND SUPPORT, AS WELL AS TO DESIGNATED FUNDS ON BEHALF OF DEPARTMENTAL AND UNIVERSITY PROJECTS.
DEPARTMENT AND UNIT OPERATING FUNDS PROVIDE ADDITIONAL RESOURCES FOR PROGRAMS, TRAVEL, TRAINING, EQUIPMENT AND SUPPLIES, AND OTHER MISCELLANEOUS PURPOSES ON BEHALF OF UNIVERSITY DEPARTMENTS
OTHER EXPENSES ATTRIBUTABLE TO PROGRAM FUNDS IN SUPPORT OF THE UNIVERSITY AND DEPARTMENTS, AND ADJUSTMENTS FOR BAD DEBTS.
THE ORGANIZATION PROVIDES SUPPORT IN THE FORM OF SCHOLARSHIPS AND AWARDS TO FACULTY AND STUDENTS RELATED TO THEIR EDUCATIONAL PURSUITS AT THE UNIVERSITY
THE ORGANIZATION PROVIDES SUPPORT TO THE UNIVERSITY BROADLY AND TO INDIVIDUAL DEPARTMENTS IN SUPPORT OF THEIR RESPECTIVE EDUCATION PRIORITIES IN THE FORM OF PAYROLL AND STIPEND SUPPORT, AS WELL AS TO DESIGNATED FUNDS ON BEHALF OF DEPARTMENTAL AND UNIVERSITY PROJECTS.
DEPARTMENT AND UNIT OPERATING FUNDS PROVIDE ADDITIONAL RESOURCES FOR PROGRAMS, TRAVEL, TRAINING, EQUIPMENT AND SUPPLIES, AND OTHER MISCELLANEOUS PURPOSES ON BEHALF OF UNIVERSITY DEPARTMENTS
OTHER EXPENSES ATTRIBUTABLE TO PROGRAM FUNDS IN SUPPORT OF THE UNIVERSITY AND DEPARTMENTS, AND ADJUSTMENTS FOR BAD DEBTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Ronald G Area CEO | Officer | 40 | $265,667 |
Mr R Scott Anderson CFO | Officer | 40 | $131,464 |
Mr Joseph Allwood COO | Officer | 40 | $116,473 |
Mrs Sharon Shaffer Chair | OfficerTrustee | 2 | $0 |
Mrs A Sue Zemba Treasurer | OfficerTrustee | 2 | $0 |
Mr Leon K Oxley Secretary | OfficerTrustee | 2 | $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 | $34,020,461 |
| Noncash contributions included in lines 1a–1f | $13,400,207 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $34,020,461 |
| Total Program Service Revenue | $7,494 |
| Investment income | $1,101,498 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $13,803 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,298,896 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $2,039 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $39,444,191 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,010,575 |
| 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. | $621,197 |
| Compensation of current officers, directors, key employees. | $485,905 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,532,713 |
| Pension plan accruals and contributions | $86,938 |
| Other employee benefits | $340,594 |
| Payroll taxes | $143,840 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $91,359 |
| Fees for services: Accounting | $30,650 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $576,033 |
| Fees for services: Other | $414,060 |
| Advertising and promotion | $28,038 |
| Office expenses | $201,036 |
| Information technology | $226,212 |
| Royalties | $0 |
| Occupancy | $79,793 |
| Travel | $105,252 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $181,759 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $302,468 |
| Insurance | $138,731 |
| All other expenses | $26,009 |
| Total functional expenses | $13,848,567 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $500 |
| Savings and temporary cash investments | $28,351,077 |
| Pledges and grants receivable | $33,271,632 |
| Accounts receivable, net | $106,291 |
| 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 | $43,418 |
| Net Land, buildings, and equipment | $9,404,797 |
| Investments—publicly traded securities | $211,162,132 |
| Investments—other securities | $68,501,698 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $14,309,675 |
| Total assets | $365,151,220 |
| Accounts payable and accrued expenses | $1,073,582 |
| Grants payable | $0 |
| Deferred revenue | $500 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $78,484,143 |
| 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 | $584,525 |
| Total liabilities | $80,142,750 |
| Net assets without donor restrictions | $20,145,321 |
| Net assets with donor restrictions | $264,863,149 |
| 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 | $365,151,220 |
Grants Recieved
Over the last fiscal year, we have identified 35 grants that Marshall University Foundation Incorporated has recieved totaling $3,638,642.
| Awarding Organization | Amount |
|---|---|
Encova Foundation Of West Virginia Charleston, WV PURPOSE: GENERAL SUPPORT | $1,350,000 |
Encova Foundation Of West Virginia Charleston, WV PURPOSE: UDITORIUM FOR BRAD D SMITH CENTER FOR BUSINESS AND INNOVATION | $450,000 |
Maier Foundation Inc Charleston, WV PURPOSE: SCHOOL OF AVIATION | $425,000 |
Lemotto Smith Tr Uw Huntington, WV PURPOSE: SCHOLARSHIPS | $210,118 |
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $192,230 |
American Endowment Foundation Hudson, OH PURPOSE: EDUCATIONAL | $180,000 |
Endowment Analysis
| Beg. Balance | $134,897,730 |
| Earnings | $38,957,330 |
| Admin Expense | $397,202 |
| Net Contributions | $26,590,979 |
| Other Expense | $5,272,775 |
| Grants | $2,479,304 |
| Ending Balance | $192,296,758 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
William & Mary Foundation Williamsburg, VA | $1,122,551,962 | $79,373,462 |
University Of Virginia Foundation Charlottesville, VA | $508,958,321 | $36,530,024 |
University Health Services Inc Richmond, VA | $34,736,696 | $16,366,834 |
Medical College Of Virginia Foundation Richmond, VA | $645,911,510 | $54,318,573 |
Virginia Commonwealth University College Of Engineering Foundation Richmond, VA | $131,974,636 | $12,076,889 |
University Of Maryland Foundation Inc Adelphi, MD | $2,110,990,979 | $62,167,598 |
Communities In Schools Inc Alexandria, VA | $73,470,009 | $25,993,702 |
University Of Virginia Law School Foundation Charlottesville, VA | $789,832,433 | $37,875,854 |
University Of Maryland Baltimore Foundation Inc Baltimore, MD | $437,980,331 | $59,974,746 |
Pelotonia Columbuus, OH | $27,807,886 | $34,892,875 |
Wku Student Life Foundation Inc Bowling Green, KY | $178,491,745 | $30,600,200 |
Foundation For Indiana University Of Pennsylvania Indiana, PA | $226,911,998 | $27,994,482 |