Form 990 for tax year 2023
Filed by THE COLLEGE OF SOUTHERN MARYLAND FOUNDATION INC.
Totals
- Total revenue
- $1,701,852
- Total expenses
- $1,813,698
- Contributions and grants received
- $1,350,343
- Grants paid
- $1,644,492
- Program service revenue
- $0
- Investment income
- $373,240
- Other revenue
- -$21,731
- Total assets, end of year
- $17,781,387
- Total liabilities, end of year
- $33,375
- Net assets or fund balances, end of year
- $17,748,012
- Program services expenses (Part IX)
- $1,656,492
- Management and general expenses
- $156,696
- Fundraising expenses
- $510
- Program service expenses (Part III)
- $1,656,492
Program services were 91.3% 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.
-
1c · Fundraising events
$50,931
-
1f · All other contributions, gifts and grants
$1,299,412
-
1g · Noncash contributions included above
$35,937
-
3 · Investment income
total $373,263 · excluded $373,263
-
7a · Gross sales of assets other than inventory
securities $2,531,984
-
7b · Less cost or other basis and sales expenses
securities $2,532,007
-
7c · Gain or loss
securities -$23
-
7d · Net gain or loss
total -$23 · excluded -$23
-
8a · Fundraising events: gross income
$10,800
-
8a · Fundraising events: contributions included on line 1c
$50,931
-
8b · Fundraising events: direct expenses
$32,531
-
8c · Net income from fundraising events
total -$21,731 · excluded -$21,731
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $402,226 · program services $402,226
-
2 · Grants to domestic individuals
total $1,242,266 · program services $1,242,266
-
7 · Other salaries and wages
total $6,141 · management and general $6,141
-
10 · Payroll taxes
total $649 · management and general $649
-
11c · Fees: accounting
total $8,820 · management and general $8,820
-
12 · Advertising and promotion
total $72,210 · program services $12,000 · management and general $59,700 · fundraising $510
-
13 · Office expenses
total $73,393 · management and general $73,393
-
24a · Other expenses: SUBSCRIPTIONS
total $7,993 · management and general $7,993
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $878,509 · end of year $595,544
-
3 · Pledges and grants receivable
beginning of year $282,754 · end of year $230,391
-
11 · Investments: publicly traded securities
beginning of year $12,195,408 · end of year $13,452,607
-
15 · Other assets
beginning of year $3,159,183 · end of year $3,502,845
-
17 · Accounts payable and accrued expenses
beginning of year $67,435 · end of year $33,375
-
27 · Net assets without donor restrictions
beginning of year $520,756 · end of year $531,372
-
28 · Net assets with donor restrictions
beginning of year $15,927,663 · end of year $17,216,640
Mission and programs · 2023
Mission
THE COLLEGE OF SOUTHERN MARYLAND (CSM) FOUNDATION, INC OPERATES EXCLUSIVELY FOR THE CHARITABLE AND EDUCATIONAL PURPOSES OF SUPPORTING THE COLLEGE OF SOUTHERN MARYLAND AND ITS STUDENTS AND FACULTY. CONTINUED ON SCHEDULE O.COMPRISED OF AN ALL-VOLUNTEER TRI-COUNTY BOARD OF DIRECTORS, THE CSM FOUNDATION RAISES FRIENDS AND FUNDS TO SUPPORT STUDENTS AND COLLEGE INITIATIVES. WE PROMOTE SCHOLARSHIPS, PROGRAMS, TECHNOLOGY, PROFESSIONAL DEVELOPMENT AND SPECIAL PROJECTS THAT STRENGTHEN AND DEVELOP CSM AND OUR STUDENTS.
Activities or mission (Part I)
SOLICIT AND INVEST FUNDS TO SUPPORT EDUCATIONAL ACTIVITIES OF THE COLLEGE OF SOUTHERN MARYLAND.
-
DURING FISCAL YEAR 2024, THE FOUNDATION FUNDED SCHOLARSHIPS TO 1,196 DIFFERENT STUDENTS AWARDED BY THE COLLEGE OF SOUTHERN MARYLAND, MADE DONATIONS TO THE COLLEGE'S TECHNOLOGY RESOURCES, PHYSICAL EDUCATION WELLNESS CENTER, AND SUPPORTED OTHER PROGRAMS FOR THE BENEFIT OF THE COLLEGE, ITS FACULTY, AND STUDENTS.
Expenses $1,656,492 · Grants $1,644,492
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
RANDALL WILLIAMS
CHAIR
- Total calculated
- $0
- Hours/week
- 0.1
-
KIMBERLY ROSENFIELD
IMMEDIATE PAST CHAIR
- Total calculated
- $0
- Hours/week
- 0.4
-
BRENDA LOWE
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 0.4
-
TREY PROCTOR
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 0.1
-
JOSE GONZALEZ
TRUSTEE LIAISON
- Total calculated
- $0
- Hours/week
- 0.1
-
DEXTER BORDES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
DANIELLE CONROW
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
NATALIE COTTON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
MARY HANNAH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
THEODORE HARWOOD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
CAROLYN HEITHAUS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
JANNA JACKSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
JULIE LEMMON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
DIXIE MILLER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
JAMES NORRIS JR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
DAVID OSTERHOUSE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
DOMINIC POWELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
KELLY ROBERTSON-SLAGLE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
TERESA TIKI SHASHO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
SAMANTHA STRATCHKO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
KEVIN SWITICK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
DENNIS ERIC VREM
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
JOANNA YAKAITIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
DAWN YEITRAKIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
JUDITH MILLS
CFO
- Total calculated
- $166,266
- From this org
- $0
- From related orgs
- $139,220
- Other
- $27,046
- Hours/week
- 8 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $138,020 related
- Bonus
- $0 + $1,200 related
- Other
- $0
- Deferred
- $0 + $10,006 related
- Nontaxable benefits
- $0 + $17,040 related
- Filer's total
- $0 + $166,266 related
-
DR YOLANDA WILSON
SECRETARY/TREASURER
- Total calculated
- $339,948
- From this org
- $0
- From related orgs
- $307,700
- Other
- $32,248
- Hours/week
- 3 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $276,000 related
- Bonus
- $0
- Other
- $0 + $31,700 related
- Deferred
- $0 + $20,010 related
- Nontaxable benefits
- $0 + $12,238 related
- Filer's total
- $0 + $339,948 related
-
CHELSEA CLUTE
EXECUTIVE DIRECTOR (UNTIL 07/2023)
- Total calculated
- $111,631
- From this org
- $0
- From related orgs
- $95,499
- Other
- $16,132
- Hours/week
- 8 + 32 related
-
JEANE WHARTON
EXECUTIVE DIRECTOR
- Total calculated
- $29,412
- From this org
- $0
- From related orgs
- $27,172
- Other
- $2,240
- Hours/week
- 8 + 32 related
-
TONI KRUSZKA
ALUMNI AND DONOR RELATIONS
- Total calculated
- $107,248
- From this org
- $0
- From related orgs
- $87,030
- Other
- $20,218
- Hours/week
- 8 + 32 related
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
None.
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
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- PART I, LINE 3
- THE FOUNDATION MAKES NO DIRECT COMPENSATION PAYMENTS. EMPLOYEES ARE PAID BY THE COLLEGE OF SOUTHERN MARYLAND. THE COLLEGE'S HUMAN RESOURCE DEPARTMENT MONITORS THE COMPENSATION PROGRAM BASED ON ONGOING ANALYSIS OF JOB FUNCTIONS AND MARKET WAGE/BENEFIT RATES. A BOARD COMMITTEE OVERSEES THE OVERALL COMPENSATION PROGRAMS AND RECOMMENDS POLICY TO THE BOARD FOR APPROVAL. THE COLLEGE'S BOARD OF TRUSTEES APPROVES THE OVERALL COMPENSATION PROGRAM FOR ALL EMPLOYEES, INCLUDING THE EXECUTIVE DIRECTOR OF THE FOUNDATION.
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
-
$402,226
TO PROVIDE RESOURCES TO THE COLLEGE IN FURTHERANCE OF THEIR EDUCATION MISSION.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
COLLEGE - EDUCATION · MD
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 8 May 2025
- IRS schema version
- 2023v6.0
- Source object
- 202541299349300849
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