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Nonprofiteer
← YOUNGSTOWN STATE UNIVERSITY FOUNDATION

Form 990 for tax year 2022

Filed by YOUNGSTOWN STATE UNIVERSITY FOUNDATION.

Totals

Total revenue
$28,980,786
Total expenses
$19,528,304
Contributions and grants received
$15,837,814
Grants paid
$16,286,223
Program service revenue
$0
Investment income
$13,142,972
Other revenue
$0
Total assets, end of year
$333,927,994
Total liabilities, end of year
$11,831,468
Net assets or fund balances, end of year
$322,096,526
Program services expenses (Part IX)
$17,092,894
Management and general expenses
$1,722,441
Fundraising expenses
$712,969
Program service expenses (Part III)
$17,092,894

Program services were 87.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $15,837,814

  • 1g · Noncash contributions included above

    $2,306,269

  • 3 · Investment income

    total $7,754,895 · unrelated business $44,807 · excluded $7,710,088

  • 7a · Gross sales of assets other than inventory

    securities $81,476,932

  • 7b · Less cost or other basis and sales expenses

    securities $76,088,855

  • 7c · Gain or loss

    securities $5,388,077

  • 7d · Net gain or loss

    total $5,388,077 · excluded $5,388,077

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $16,286,223 · program services $16,286,223

  • 5 · Compensation of officers, directors and key employees

    total $293,250 · program services $86,739 · management and general $92,647 · fundraising $113,864

  • 7 · Other salaries and wages

    total $1,035,585 · program services $453,402 · management and general $258,740 · fundraising $323,443

  • 8 · Pension plan contributions

    total $47,945 · program services $19,877 · management and general $13,629 · fundraising $14,439

  • 9 · Other employee benefits

    total $119,436 · program services $48,112 · management and general $38,542 · fundraising $32,782

  • 10 · Payroll taxes

    total $92,361 · program services $38,032 · management and general $24,407 · fundraising $29,922

  • 11b · Fees: legal

    total $18,619 · management and general $18,619

  • 11c · Fees: accounting

    total $59,305 · management and general $59,305

  • 11f · Fees: investment management

    total $915,653 · management and general $915,653

  • 11g · Fees: other

    total $51,025 · management and general $19,225 · fundraising $31,800

  • 12 · Advertising and promotion

    total $221,047 · program services $132,580 · management and general $3,024 · fundraising $85,443

  • 13 · Office expenses

    total $50,576 · program services $13,334 · management and general $21,868 · fundraising $15,374

  • 14 · Information technology

    total $79,062 · program services $12,492 · management and general $48,367 · fundraising $18,203

  • 16 · Occupancy

    total $66,750 · management and general $66,750

  • 17 · Travel

    total $41,774 · program services $761 · management and general $9,155 · fundraising $31,858

  • 19 · Conferences, conventions and meetings

    total $29,136 · program services $1,342 · management and general $11,953 · fundraising $15,841

  • 22 · Depreciation, depletion and amortization

    total $31,259 · management and general $31,259

  • 23 · Insurance

    total $37,669 · management and general $37,669

  • 24a · Other expenses: FEDERAL INCOME TAX

    total $46,314 · management and general $46,314

  • 24b · Other expenses: MEMBERSHIP DUES

    total $2,917 · management and general $2,917

  • 24c · Other expenses: SUBSCRIPTIONS

    total $735 · management and general $735

  • 24e · All other expenses

    total $1,663 · management and general $1,663

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $1,630,642 · end of year $7,288,180

  • 3 · Pledges and grants receivable

    beginning of year $9,152,452 · end of year $12,562,431

  • 9 · Prepaid expenses and deferred charges

    beginning of year $613,469 · end of year $526,685

  • 10a · Land, buildings and equipment: cost or other basis

    $371,476

  • 10b · Land, buildings and equipment: accumulated depreciation

    $162,320

  • 10c · Land, buildings and equipment, net

    beginning of year $209,391 · end of year $209,156

  • 11 · Investments: publicly traded securities

    beginning of year $260,805,770 · end of year $272,325,321

  • 12 · Investments: other securities

    beginning of year $45,310,708 · end of year $38,418,582

  • 15 · Other assets

    beginning of year $546,696 · end of year $2,597,639

  • 17 · Accounts payable and accrued expenses

    beginning of year $766,394 · end of year $929,318

  • 18 · Grants payable

    beginning of year $10,907,374 · end of year $10,902,150

  • 27 · Net assets without donor restrictions

    beginning of year $159,593,219 · end of year $163,890,047

  • 28 · Net assets with donor restrictions

    beginning of year $147,002,141 · end of year $158,206,479

Mission and programs · 2022

Mission

THE YOUNGSTOWN STATE UNIVERSITY FOUNDATION IS DEVOTED TO THE SUPPORT, EXPANSION AND DEVELOPMENT OF EDUCATIONAL PROGRAMS AT YOUNGSTOWN STATE UNIVERSITY DEEMED USEFUL TO THE STUDENTS AND BENEFICIAL TO THE COMMUNITY.

Activities or mission (Part I)

TO SUPPORT YOUNGSTOWN STATE UNIVERSITY BY PROVIDING SCHOLARSHIPS AND PROGRAMATIC SUPPORT.

  • THE YOUNGSTOWN STATE UNIVERSITY FOUNDATION IS AN INDEPENDENT, AUTONOMOUS, PRIVATE, NON-PROFIT CORPORATION THAT PURSUES, MANAGES AND DISTRIBUTES RESOURCES TO SUPPORT SCHOLARSHIPS AND STUDENT INITIATIVES, AS WELL AS THE GROWTH AND DEVELOPMENT OF YOUNGSTOWN STATE UNIVERSITY.THE YOUNGSTOWN STATE UNIVERSITY FOUNDATION WILL BE A CATALYTIC FORCE FOR THE ADVANCEMENT OF YSU, THE YOUNGSTOWN COMMUNITY, AND NORTHEAST OHIO, AND WILL BE A CRITICAL SOURCE OF SUPPORT, OPPORTUNITY, AND EXCELLENCE FOR YSU STUDENTS AND UNIVERSITY PROGRAMS.THE COMPETITION FOR STUDENTS IN HIGHER EDUCATION HAS NEVER BEEN GREATER. THE YSU FOUNDATION, PROVIDING OVER $16.3 MILLION IN ANNUAL SCHOLARSHIP AID, HAS HISTORICALLY DESIGNED SCHOLARSHIP AWARDS TO PROVIDE ACCESS TO ATTEND YSU. TWO OF THE YSU FOUNDATION'S IMPORTANT INITIATIVES ARE THE MINORITY SCHOLARSHIP MATCH PROGRAM AND THE STUDENT INVESTMENT FUND. FOR THE PAST DECADE, THE YSU FOUNDATION HAS MATCHED ALL GIFTS TO MINORITY SCHOLARSHIPS. THIS HAS ATTRACTED OVER $2,269,267 IN GIFTS, HELPING YSU INCREASE THE DIVERSITY OF ITS STUDENT BODY. THE FOUNDATION ALSO PROVIDES GRANTS TO YOUNGSTOWN STATE UNIVERSITY FOR THE PURPOSE OF LECTURES AND SYMPOSIUMS AND FOR THE OPERATIONS OF VARIOUS DEPARTMENTS AND CENTERS.

    Expenses $17,092,894 · Grants $16,286,223

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • ED MURANSKY

    CHAIR/TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • FRANK HIERRO

    IMMEDIATE PAST CHAIR/TRUST

    Total calculated
    $0
    Hours/week
    1

  • NADER ATWAY

    VICE CHAIR/TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • THEODORE SCHMIDT

    TREASURER/TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JOHN MOLITERNO

    ASSISTANT TREASURER/TRUSTE

    Total calculated
    $0
    Hours/week
    1

  • JUDE NOHRA

    SECRETARY/TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • BENJAMIN KECK

    ASSISTANT SECRETARY/TRUSTE

    Total calculated
    $0
    Hours/week
    1

  • PETER J ASIMAKOPOULOS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • NANCY BEEGHLY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • GERMAINE BENNETT

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • A GARY BITONTE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • ALEXA SWEENEY BLACKANN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • RICHARD BLASE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • LEE BURDMAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MARTHA BUSHEY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • CAPRI CAFARO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • NIKKI CARTER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • THOMAS J CAVALIER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • DOMENIC L CONSTANTINI

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • ALAN W COPE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • ALFRED J FLEMING

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • THOMAS J FLEMING

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JOHN F GELETKA

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JAMES GELLER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • STEPHEN J GURGOVITS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • KEVIN HELMICK

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • CHANDRER KOHLI

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JOCELYNE KOLLAY LINSALATA

    TRUSTEE - PART YEAR

    Total calculated
    $0
    Hours/week
    1

  • GARRY L MROZEK

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • ELBA NAVARRO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • CARL A NUNZIATO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • KATHLEEN PADGITT

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • ANTHONY PAYIAVLAS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JOHN L POGUE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • WILLIAM POOLE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • RICHARD J SCHIRALDI

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • SCOTT SCHULICK

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JAMES H SISEK

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MARTIN SOLOMON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • DOUG SWEENEY

    TRUSTEE - PART YEAR

    Total calculated
    $0
    Hours/week
    1

  • RAJIV TANEJA

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • RICHARD B THOMPSON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • STUART WISE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • PAUL MCFADDEN

    PRESIDENT

    Total calculated
    $342,278
    From this org
    $316,000
    From related orgs
    $0
    Other
    $26,278
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $220,000
    Bonus
    $96,000
    Other
    $0
    Deferred
    $11,859
    Nontaxable benefits
    $14,419
    Filer's total
    $342,278

  • HEATHER CHUNN

    VICE PRESIDENT

    Total calculated
    $156,158
    From this org
    $135,742
    From related orgs
    $0
    Other
    $20,416
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $129,858
    Bonus
    $5,884
    Other
    $0
    Deferred
    $5,430
    Nontaxable benefits
    $14,986
    Filer's total
    $156,158

  • LEONARD MORRIS

    CONTROLLER

    Total calculated
    $114,444
    From this org
    $105,246
    From related orgs
    $0
    Other
    $9,198
    Hours/week
    40

  • BRIAN NORD

    SENIOR DEVELOPMENT OFFICER

    Total calculated
    $130,920
    From this org
    $115,524
    From related orgs
    $0
    Other
    $15,396
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 7
ALL BONUSES PAID ARE REVIEWED AND DEEMED APPROPRIATE BY THE FINANCE AND AUDIT COMMITTEE PRIOR TO PAYOUT. BONUSES ARE NECESSARY TO STAY COMPETITIVE IN REGARD TO RETENTION.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Provenance

Return type
form_990
Tax year
2022
Filed
8 November 2023
IRS schema version
2022v5.0
Source object
202343149349304874

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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