Form 990 for tax year 2024
Filed by ALABAMA STATE UNIVERSITY TRUST FOR EDUCATIONAL EXCELLENCE.
Totals
- Total revenue
- $3,026,773
- Total expenses
- $6,539,432
- Contributions and grants received
- $52,104
- Grants paid
- $5,800,470
- Program service revenue
- $0
- Investment income
- $2,974,669
- Other revenue
- $0
- Total assets, end of year
- $117,745,909
- Total liabilities, end of year
- $0
- Net assets or fund balances, end of year
- $117,745,909
- Program services expenses (Part IX)
- $6,045,820
- Management and general expenses
- $493,612
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $6,045,820
Program services were 92.5% 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
$52,104
-
3 · Investment income
total $3,022,613 · excluded $3,022,613
-
7a · Gross sales of assets other than inventory
securities $107,825,435
-
7b · Less cost or other basis and sales expenses
securities $107,873,379
-
7c · Gain or loss
securities -$47,944
-
7d · Net gain or loss
total -$47,944 · excluded -$47,944
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $5,000,000 · program services $5,000,000
-
2 · Grants to domestic individuals
total $800,470 · program services $800,470
-
11f · Fees: investment management
total $493,612 · management and general $493,612
-
24a · Other expenses: LECTURE SERIES
total $245,350 · program services $245,350
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,866,650 · end of year $3,040,345
-
4 · Accounts receivable
beginning of year $227,550 · end of year $194,281
-
11 · Investments: publicly traded securities
beginning of year $110,848,163 · end of year $114,335,566
-
15 · Other assets
beginning of year $207,005 · end of year $175,717
-
28 · Net assets with donor restrictions
beginning of year $113,149,368 · end of year $117,745,909
Mission and programs · 2024
Mission
THE TRUST SEEKS TO SUPPORT AND IMPROVE EDUCATIONAL EXCELLENCE AT ALABAMA STATE UNIVERSITY (THE UNIVERSITY) THROUGH THE FOLLOWING: (1) GRANTING OF ACADEMIC SCHOLARSHIPS AT THE UNIVERSITY, (2) ENDOWMENT OF ACADEMIC CHAIRS, (3) SUBSIDIZING OF CURRENT FACULTY POSITIONS AND (4) PAYMENT OF FEES AND EXPENSES FOR CAMPUS LECTURES AND LECTURE SERIES ON THE UNIVERSITY'S CAMPUS.
Activities or mission (Part I)
TO SUPPORT AND IMPROVE EDUCATIONAL EXCELLENCE AT ALABAMA STATE UNIVERSITY
-
THE TRUST PROVIDED SCHOLARSHIPS TOTALING $5,800,470 TO 290 STUDENTS ATTENDING THE UNIVERSITY.
Expenses $5,800,470 · Grants $5,800,470
-
OFFICIAL LECTURE SERIES SPONSORED BY THE NATIONAL CENTER FOR THE STUDY OF CIVIL RIGHTS AND AFRICAN-AMERICAN CULTURE AT ALABAMA STATE UNIVERSITY ARE HELD ANNUALLY OR TO COINCIDE WITH SPECIAL CIVIL RIGHTS ANNIVERSARY EVENTS OR OTHER SUCH OCCASIONS. EVENTS MAY FEATURE SCHOLARS, COMMUNITY LEADERS, EDUCATORS, AND ARTISTS ON A VARIETY OF THEMES. EDUCATIONAL SERVICES PROVIDED BY THE NATIONAL CENTER IN THE FORM OF SCHOLARLY PRESENTATIONS, DISCUSSIONS, AND TOURS ARE ALSO INCLUDED. A TOTAL OF 1,360 STUDENTS AND OTHERS FROM THE GENERAL POPULATION ATTENDED A COMBINATION OF 26 (16 WERE EDUCATIONAL SERVICES) OFFICIAL AND UNOFFICIAL LECTURE SERIES THAT WERE CONDUCTED IN THE 2024-2025 ACADEMIC YEAR BY THE NATIONAL CENTER, WITH FUNDING FOR LECTURES PROVIDED THROUGH THE TRUST FOR EDUCATIONAL EXCELLENCE.
Expenses $245,350
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
BRENDA HUNTER
PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
DELBERT MADISON
PRESIDENT PRO TEM
- Total calculated
- $0
- Hours/week
- 1
-
NAPOLEON BRACY JR
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
PAULETTE EDWARDS
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
LARAUNCE FLEMING
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
GEORGE GORE
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
DARRELL L HUDSON
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
MARIO LUMZY
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
TIFFANY B MCCORD
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
ANGELA MCKENZIE
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
LARRY MEANS
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
CHRISTOPHER SPENCER
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
PAMELA J WARE
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
JOE WHITT SR
MEMBER
- Total calculated
- $0
- Hours/week
- 1
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.
Grants on this return
-
$5,000,000
GENERAL SUPPORT
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.
-
115 · EDUCATION · AL
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 5 June 2026
- IRS schema version
- 2024v5.5
- Source object
- 202601639349301105
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