Glenville State University Foundation
- Assets
- $24.7m
- Revenue
- $5.5m
- Investments
- $7.4m
- Employees
- 0
- Location
- Glenville, WV
- Founding
- 02/1961
- Data as of
- 06/2023
- EIN
- 55-6021123
Organization Overview
Glenville State University Foundation is located in Glenville, WV. The organization was established in 1961. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, 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. Glenville State University Foundation 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 06/2023, Glenville State University Foundation generated $5.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $4.4m during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
RAISING FUNDS TO PROVIDE SCHOLARSHIPS AND FUNDING FOR GENERAL EDUCATION PURPOSES
Describe the Organization's Program Activity:
Part 3 - Line 4a
RECEIVE AND PROVIDE FUNDS FOR SCHOLARSHIPS GIVEN FOR ACADEMIC AND ATHLETIC ACHIEVEMENTS TO STUDENTS
RECEIVE AND PROVIDE FUNDS FOR GENERAL EDUCATION PURPOSES OF GLENVILLE STATE COLLEGE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sandra Pettit President | OfficerTrustee | 1 | $0 |
John Westfall Vice President | OfficerTrustee | 1 | $0 |
Mary Lee Mcpherson Secretary/treasurer | OfficerTrustee | 1 | $0 |
Timothy Butcher Board Member | Trustee | 1 | $0 |
Robert Marshall Board Member | Trustee | 1 | $0 |
David Hutchison Ex-Officio Board Member | 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 | $4,836,866 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,836,866 |
| Total Program Service Revenue | $0 |
| Investment income | $473,509 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $201,704 |
| Net Rental Income | $89,434 |
| Net Gain/Loss on Asset Sales | -$53,966 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,547,547 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,121,529 |
| Grants and other assistance to domestic individuals. | $726,001 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $83,633 |
| Compensation of current officers, directors, key employees. | $33,453 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $90,355 |
| 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 | $17,850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $120,338 |
| Fees for services: Other | $0 |
| Advertising and promotion | $35,130 |
| Office expenses | $3,908 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $22,857 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $92,228 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $45,229 |
| Insurance | $3,240 |
| All other expenses | $560 |
| Total functional expenses | $4,442,026 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $249,178 |
| Savings and temporary cash investments | $1,370,360 |
| Pledges and grants receivable | $1,137,559 |
| 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 | $3,041,055 |
| Investments—publicly traded securities | $11,092,012 |
| Investments—other securities | $7,449,972 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $389,505 |
| Total assets | $24,729,641 |
| Accounts payable and accrued expenses | $160,707 |
| Grants payable | $0 |
| Deferred revenue | $17,642 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $50,180 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,807,629 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,036,158 |
| Net assets without donor restrictions | $1,275,845 |
| Net assets with donor restrictions | $20,417,638 |
| 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 | $24,729,641 |