Alcorn State University Foundation Incorporated
- Assets
- $50.5m
- Revenue
- $27.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Lorman, MS
- Founding
- 02/1975
- Data as of
- 12/2020
- EIN
- 64-0538018
Organization Overview
Alcorn State University Foundation Incorporated is located in Lorman, MS. The organization was established in 1975. According to its NTEE Classification (B43) the organization is classified as: Universities, 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. Alcorn State 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 12/2020, Alcorn State University Foundation Incorporated generated $27.8m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 57.0% each year . All expenses for the organization totaled $1.9m during the year ending 12/2020. While expenses have increased by 0.1% 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
SEE ATTACHED STATEMENTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
ATHLETIC SUPPORT - TO PROVIDE GENERAL AND SPECIFIC FUNDING TO THE ATHLETIC DEPARTMENT OF ALCORN STATE UNIVERSITY.
SCHOLARSHIP SUPPORT - TO PROVIDE GENERAL AND SPECIFIC SCHOLARSHIP DOLLARS TO STUDENTS OF ALCORN STATE UNIVERSITY.
INSTITUTIONAL SUPPORT - TO PROVIDE GENERAL AND SPECIFIC FUNDING TO ALCORN STATE UNIVERSITY TO ASSIT WITH GENERAL OPERATIONAL EXPENSES.
ACADEMIC SUPPORT - TO PROVIDE GENERAL AND SPECIFIC FUNDING TO ALCORN STATE UNIVERSITY TO ASSIST WITH EXPENSES OF ACTIVITES AND SERVICES THAT SUPPORT THE SCHOOL'S PRIMARY MISSION OF EDUCATION AND INSTRUCTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert D Gage IV Chairman | OfficerTrustee | 1 | $0 |
Dr Shelby Wilkes Secretary | OfficerTrustee | 0.5 | $0 |
James Biglane Vice Chairman | OfficerTrustee | 0.5 | $0 |
Dr Charlie Bridges Director | Trustee | 0.5 | $0 |
Nathaniel Hughes Director | Trustee | 0.5 | $0 |
Dr Anthony Newman Director | Trustee | 0.5 | $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 | $26,953,373 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $26,953,373 |
| Total Program Service Revenue | $0 |
| Investment income | $460,859 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $338,292 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $27,759,787 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $392,789 |
| Grants and other assistance to domestic individuals. | $671,805 |
| 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 | $4,489 |
| Fees for services: Accounting | $41,060 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $26 |
| Office expenses | $11,814 |
| Information technology | $5,388 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $7,960 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,440 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $44,467 |
| Insurance | $8,872 |
| All other expenses | $143,396 |
| Total functional expenses | $1,862,607 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,440,630 |
| Savings and temporary cash investments | $58,821 |
| 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 | $850,151 |
| Investments—publicly traded securities | $47,181,024 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,382 |
| Total assets | $50,539,008 |
| Accounts payable and accrued expenses | $1,278,235 |
| 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 | $0 |
| Total liabilities | $1,278,235 |
| Net assets without donor restrictions | $39,166,572 |
| Net assets with donor restrictions | $10,094,201 |
| 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 | $50,539,008 |
Grants Recieved
Over the last fiscal year, we have identified 13 grants that Alcorn State University Foundation Incorporated has recieved totaling $412,550.
| Awarding Organization | Amount |
|---|---|
Direct Relief Santa Barbara, CA PURPOSE: FUND FOR HEALTH EQUITY | $250,000 |
Direct Relief Santa Barbara, CA PURPOSE: SUPPORT TO US CLINICS & HEALTH CENTERS FOR LOW-INCOME, UNINSURED PATIENTS | $46,983 |
Womens Foundation Of Mississippi Jackson, MS PURPOSE: COMMUNITY COLLEGE/UNIVERSITY HEALTHCARE WORKFORCE | $40,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $21,212 |
Morgan Stanley Foundation New York, NY PURPOSE: DIVERSITY SCHOLARSHIPS | $15,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $13,500 |
Endowment Analysis
| Beg. Balance | $20,626,422 |
| Earnings | $2,163,421 |
| Net Contributions | $25,000,000 |
| Grants | $550,000 |
| Ending Balance | $47,239,843 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Troy University Foundation Troy State University, AL | $216,795,680 | $14,891,109 |
Crown College Powell, TN | $16,563,165 | $8,650,181 |
University Of Central Arkansas Foundation Inc Conway, AR | $76,302,395 | $12,983,167 |
Amridge University Inc Montgomery, AL | $15,939,891 | $8,229,129 |
Southern University System Foundation Baton Rouge, LA | $59,341,239 | $13,209,342 |
Austin Peay State University Foundation Clarksville, TN | $60,731,234 | $13,661,420 |
University Of Tennessee Research Foundation Knoxville, TN | $82,756,683 | $8,787,700 |
Nsu Foundation Inc Natchitoches, LA | $24,583,769 | $5,806,741 |
Southeastern Louisiana University Foundation Hammond, LA | $74,066,659 | $6,564,775 |
University Of Montevallo Foundation Montevallo, AL | $53,571,630 | $6,691,852 |
Worldquant University New Orleans, LA | $1,039,682 | $1,518,050 |
Auburn Alumni Association Inc Auburn, AL | $16,133,039 | $3,237,497 |