California State University - Northridge Foundation
- Assets
- $308.4m
- Revenue
- $53.9m
- Investments
- $27.0m
- Employees
- 0
- Location
- Northridge, CA
- Founding
- 06/1995
- Data as of
- 06/2022
- EIN
- 95-6196006
Organization Overview
California State University - Northridge Foundation is located in Northridge, CA. The organization was established in 1995. 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. California State University - Northridge 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 06/2022, California State University - Northridge Foundation generated $53.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.8% each year . All expenses for the organization totaled $14.9m during the year ending 06/2022. While expenses have increased by 4.8% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORT AND ENHANCE THE VISION, MISSION, AND VALUES OF CALIFORNIA STATE UNIVERSITY, NORTHRIDGE
Describe the Organization's Program Activity:
Part 3 - Line 4a
CALIFORNIA STATE UNIVERSITY, NORTHRIDGE FOUNDATION (THE FOUNDATION) SERVES AS AN AUXILIARY ORGANIZATION TO CALIFORNIA STATE UNIVERSITY, NORTHRIDGE WITH A GOAL OF FURTHERING THE PURPOSES AND OBJECTIVES OF THE UNIVERSITY. THE FOUNDATION'S MAIN FUNCTION IS TO ADMINISTER THE RECEIPT AND DISBURSEMENT OF GIFTS, GRANTS, CONTRACTS, BEQUESTS, AND TRUSTS FROM VARIOUS DONORS TO DIFFERENT DEPARTMENTS OF THE UNIVERSITY. THE FOUNDATION ALSO ASSISTS THE UNIVERSITY IN VARIOUS ACTIVITIES, INCLUDING ACCUMULATION AND MANAGEMENT OF LIFE INCOME, ANNUITY AND STUDENT SCHOLARSHIP FUNDS, AND ADMINISTERING FUNDS FOR VARIOUS EDUCATION-RELATED FUNCTIONS, SPECIAL PROGRAMS, AND OTHER ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alan I Abramson Director | Trustee | 1 | $0 |
Barbara L Levy Director | Trustee | 1 | $0 |
Carson E Schreiber Director | Trustee | 1 | $0 |
Cary J Lefton Director | Trustee | 1 | $0 |
Colin J Donahue Director | Trustee | 2 | $0 |
Daniel M Chernow Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Goldman Sachs Investment Management | 6/29/18 | $375,639 |
Northern Trust Investment Management | 6/29/18 | $108,147 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $99,349 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $44,869,577 |
| Noncash contributions included in lines 1a–1f | $3,719,376 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $44,968,926 |
| Total Program Service Revenue | $1,235,750 |
| Investment income | $8,140,252 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$525,875 |
| Net Income from Fundraising Events | -$28,015 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $53,911,038 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,002,481 |
| Grants and other assistance to domestic individuals. | $122,907 |
| 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 | $2,923,058 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $829,825 |
| Payroll taxes | $87,756 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,065 |
| Fees for services: Accounting | $60,852 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $780,230 |
| Fees for services: Other | $1,452,824 |
| Advertising and promotion | $324,170 |
| Office expenses | $824,399 |
| Information technology | $443,675 |
| Royalties | $0 |
| Occupancy | $193,362 |
| Travel | $162,985 |
| 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 | $57,709 |
| All other expenses | $530,332 |
| Total functional expenses | $14,877,538 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,616,851 |
| Savings and temporary cash investments | $4,724,674 |
| Pledges and grants receivable | $39,912,981 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $90,472 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $372,753 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $214,625,373 |
| Investments—other securities | $26,990,837 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,069,222 |
| Total assets | $308,403,163 |
| Accounts payable and accrued expenses | $579,585 |
| 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 | $110,635 |
| Total liabilities | $690,220 |
| Net assets without donor restrictions | $80,205,959 |
| Net assets with donor restrictions | $227,506,984 |
| 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 | $308,403,163 |
Grants Awarded
Over the last fiscal year, California State University - Northridge Foundation has awarded $2,626,352 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY STUDENT UNION PURPOSE: STUDENT SCHOLARSHIPS | $5,000 |
CALIFORNIA STATE UNIVERSITY NORTHRIDGE PURPOSE: STUDENT SCHOLARSHIPS | $2,610,652 |
THE UNIVERSITY CORPORATION PURPOSE: STUDENT SCHOLARSHIPS | $10,700 |