Wvu At Parkersburg Foundation Inc
- Assets
- $15.5m
- Revenue
- $1.1m
- Investments
- $9.3m
- Employees
- 0
- Location
- Parkersburg, WV
- Founding
- 12/1963
- Data as of
- 06/2021
- EIN
- 55-6021899
Organization Overview
Wvu At Parkersburg Foundation Inc is located in Parkersburg, WV. The organization was established in 1963. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Wvu At Parkersburg Foundation Inc 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, Wvu At Parkersburg Foundation Inc generated $1.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $429.8k during the year ending 06/2021. While expenses have increased by 0.0% per year over the past 7 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 FOUNDATION WAS ESTABLISHED TO PROVIDE EDUCATION SUPPORT AND SCHOLARSHIPS TO THE STUDENTS AND FACULTY OF WEST VIRGINIA UNIVERSITY AT PARKERSBURG.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIP AWARDS ARE MADE TO DESERVING STUDENTS AS DETERMINED BY THE WVU AT PARKERSBURG SCHOLARSHIP COMMITTEE. INTERESTED STUDENTS COMPLETE AN APPLICATION PROCESS AND MUST MEET ELIGIBILITY REQUIREMENTS AS OUTLINED IN THE ATTACHED SCHOLARSHIP APPLICATION.
PROGRAM SERVICES RELATED TO EDUCATIONAL NEEDS OF WEST VIRGINIA UNIVERSITY AT PARKERSBURG.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Becky Deem Chair | OfficerTrustee | 1 | $0 |
Cynthia Brown First Vice-Chair | OfficerTrustee | 1 | $0 |
Annette Fehrenbacher Second Vice-Chair | OfficerTrustee | 1 | $0 |
Mike Seese Treasurer | OfficerTrustee | 1 | $0 |
Robert K Tebay III Secretary | OfficerTrustee | 1 | $0 |
Stephen Higgs Assistant Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $135,339 |
| Investment income | $232,300 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $685,842 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,053,481 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $174,650 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $38,716 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,207 |
| Fees for services: Management | $4,804 |
| 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 | $37,119 |
| Fees for services: Other | $36,011 |
| Advertising and promotion | $6,130 |
| 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 | $72,145 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $429,796 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $165,526 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $100 |
| 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 |
| Investments—publicly traded securities | $5,042,604 |
| Investments—other securities | $9,264,990 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,014 |
| Total assets | $15,544,243 |
| Accounts payable and accrued expenses | $2,819 |
| 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 | $127,950 |
| Total liabilities | $130,769 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $15,413,474 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Wvu At Parkersburg Foundation Inc has recieved totaling $65,060.
| Awarding Organization | Amount |
|---|---|
Parkersburg Area Community Foundation Inc Parkersburg, WV PURPOSE: EDUCATION | $35,060 |
Erickson Foundation Tr Parkersburg, WV PURPOSE: SUPPORT FOR UNDERSERVED STUDENTS | $20,000 |
Oakland Foundation Stowe, VT PURPOSE: SUPPORT WVUP FOUNDATION OAKLAND FUND | $10,000 |
Endowment Analysis
| Beg. Balance | $10,533,873 |
| Earnings | $2,560,623 |
| Admin Expense | $79,042 |
| Net Contributions | $7,753 |
| Other Expense | $122,832 |
| Grants | $144,536 |
| Ending Balance | $12,755,839 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Business Leadership Organized For Catholic Schools King Of Prussia, PA | $82,544,630 | $55,644,917 |
Central Pennsylvania Scholarship Fund Tyrone, PA | $42,508,819 | $45,167,381 |
Virginia Student Aid Foundation Charlottesville, VA | $165,530,915 | $45,876,846 |
Foundation For Advanced Education In The Sciences Inc Bethesda, MD | $54,757,501 | $41,367,941 |
Horatio Alger Association Of Distinguished Americans Inc Alexandria, VA | $58,355,936 | $27,092,429 |
Somerset Community Services Inc Marion Station, MD | $23,511,474 | $20,221,070 |
College Now Greater Cleveland Inc Cleveland, OH | $24,271,314 | $18,465,003 |
Cigna Foundation Philadelphia, PA | $165,016,072 | $8,084,237 |
James Madison University Foundation Inc Harrisonburg, VA | $191,139,680 | $18,508,438 |
Marine Corps Scholarship Foundation Inc Alexandria, VA | $149,128,193 | $34,285,716 |
Children Of Fallen Patriots Foundation Reston, VA | $18,264,760 | $13,060,746 |
Children Scholarship Fund Philadelphia Philadelphia, PA | $24,817,690 | $13,351,193 |