Adams State University Foundation Inc
- Assets
- $30.0m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 12
- Location
- Alamosa, CO
- Founding
- 04/1964
- Data as of
- 06/2023
- EIN
- 84-6027518
Organization Overview
Adams State University Foundation Inc is located in Alamosa, CO. The organization was established in 1964. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 06/2023, Adams State University Foundation Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Adams State University 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 06/2023, Adams State University Foundation Inc generated $3.0m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $2.6m during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Adams State University Foundation Inc has awarded 54 individual grants totaling $14,700,349. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ADAMS STATE UNIVERSITY FOUNDATION EXISTS TO PROMOTE AND FURTHER THE INTERESTS, OBJECTIVES AND PURPOSES OF THE UNIVERSITY; TO SEEK AND RECEIVE GIFTS, LEGACIES AND GRANTS OF MONEY OR PROPERTY AND TO ADMINISTER SUCH FOR THE BENEFIT OF THE UNIVERSITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS, GRANTS, AWARDS, AND OTHER ALLOCATIONS FOR THE BENEFIT OF ADAMS STATE UNIVERSITY STUDENTS, FACULTY, AND STAFF. THE FOUNDATION ASSISTED 263 RECIPIENTS TO FUND THEIR EDUCATION. THERE WERE NO DONATED SERVICES IN 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tammy Lopez Executive Direc | Officer | 40 | $0 |
Fred Bunch Board Member | Trustee | 0.25 | $0 |
John Mcdaniel Vice President | OfficerTrustee | 1 | $0 |
Duane Bussey Board Member | Trustee | 0.25 | $0 |
Keith Cerny Board Member | Trustee | 0.25 | $0 |
Chuck Houser Board Member | Trustee | 0.25 | $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 | $2,331,911 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,331,911 |
| Total Program Service Revenue | $0 |
| Investment income | $733,529 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$106,440 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,962,500 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,860,644 |
| Grants and other assistance to domestic individuals. | $88,674 |
| 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 | $16,830 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $12,863 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,676 |
| 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 | $0 |
| Insurance | $4,723 |
| All other expenses | $24,478 |
| Total functional expenses | $2,584,111 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $349,273 |
| Savings and temporary cash investments | $1,060,938 |
| Pledges and grants receivable | $14,735 |
| 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 | $7,240 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $28,523,998 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $19,500 |
| Total assets | $29,975,684 |
| Accounts payable and accrued expenses | $59,298 |
| 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 | $59,298 |
| Net assets without donor restrictions | $3,297,639 |
| Net assets with donor restrictions | $26,618,747 |
| 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 | $29,975,684 |
Grants Awarded
Over the last fiscal year, Adams State University Foundation Inc has awarded $1,860,644 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
ADAMS STATE UNIVERSITY PURPOSE: SCHOLARSHIP MONEY | $1,516,442 |
ADAMS STATE UNIVERSITY PURPOSE: ATHLETIC DEVELOPMENT | $284,070 |
ADAMS STATE UNIVERSITY PURPOSE: ACEDEMIC DEPARTMENT PROGRAMS | $60,132 |