Eastern Kentucky Univ Foundation Inc Giltner Crt 007 38 6206718
- Assets
- $96.8m
- Revenue
- $10.9m
- Investments
- $1.1m
- Employees
- 0
- Location
- Richmond, KY
- Founding
- 04/1988
- Data as of
- 06/2022
- EIN
- 61-1131682
Organization Overview
Eastern Kentucky Univ Foundation Inc Giltner Crt 007 38 6206718 is located in Richmond, KY. The organization was established in 1988. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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. Eastern Kentucky Univ Foundation Inc Giltner Crt 007 38 6206718 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, Eastern Kentucky Univ Foundation Inc Giltner Crt 007 38 6206718 generated $10.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $5.8m 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
PROVIDING FINANCIAL SUPPORT FOR EASTERN KENTUCKY UNIVERSITY IN ACCOMPLISHING ITS GOALS OF EDUCATION AND REGIONAL STEWARDSHIP FUNDRAISING AND LONG TERM INVESTMENTS FOR THIS PURPOSE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FUNDING TO SUPPORT THE CORE MISSION OF THE UNIVERSITY BY ESTABLISHING FUNDS FOR ACADEMIC DEPARTMENTS TO PURCHASE EQUIPMENT, SUPPLIES, PROFESSIONAL DEVELOPMENT, AND OTHER MATERIALS RELATED TO FURTHERING THE CLASSROOM EXPERIENCE.
FUNDING TO SUPPORT STUDENT FINANCIAL AID AND SCHOLARSHIPS, THUS ENABLING THOSE STUDENTS WHO ARE BOTH CAPABLE AND/OR HAVE FINANCIAL NEED TO RECEIVE A COLLEGE EDUCATION. THESE INCLUDE MERIT SCHOLARSHIPS AWARDED TO STUDENTS IN THE EASTERN KENTUCKY UNIVERSITY HONORS PROGRAM, AS WELL AS SCHOLARSHIPS FOR STUDENTS WHO HAVE DEMONSTRATED FINANCIAL NEED. ENDOWMENT INCOME FOR INVESTED FUNDS HELD BY THE EASTERN KENTUCKY UNIVERSITY FOUNDATION IS THE PRIMARY SOURCE OF FUNDING FOR THIS PURPOSE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David T Mcfaddin Eku President | Trustee | 1 | $0 |
Martin Cobb Trustee | Trustee | 1 | $0 |
Andrew Page Trustee | Trustee | 1 | $0 |
Lewis Diaz Board Of Regents Representative | Trustee | 1 | $0 |
Donald Whitaker Trustee | Trustee | 1 | $0 |
Jim Guice Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fifth Third Bank Investment Management Fees | 6/29/22 | $138,632 |
Wellington Trust Na Investment Management Fees | 6/29/22 | $147,568 |
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 | $5,973,762 |
| Noncash contributions included in lines 1a–1f | $500,443 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,973,762 |
| Total Program Service Revenue | $30,000 |
| Investment income | $2,445,370 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,377,966 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $20,800 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,890,357 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,716,472 |
| 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 | $36,120 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $53,629 |
| Fees for services: Investment Management | $232,427 |
| Fees for services: Other | $457,659 |
| Advertising and promotion | $48,114 |
| Office expenses | $182,781 |
| Information technology | $735 |
| Royalties | $0 |
| Occupancy | $220 |
| Travel | $1,511 |
| 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 | $14,124 |
| Insurance | $12,009 |
| All other expenses | $1,556 |
| Total functional expenses | $5,802,983 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $16,925,701 |
| Pledges and grants receivable | $655,408 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $65,467 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $660,777 |
| Investments—publicly traded securities | $77,260,499 |
| Investments—other securities | $1,051,027 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $168,752 |
| Total assets | $96,787,631 |
| Accounts payable and accrued expenses | $52,209 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $21,330,594 |
| 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 | $597,113 |
| Total liabilities | $21,979,916 |
| Net assets without donor restrictions | $11,051,496 |
| Net assets with donor restrictions | $63,756,219 |
| 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 | $96,787,631 |