Form 990 for tax year 2024
Filed by THE BRIDGEWATER STATE UNIVERSITY FOUNDATION.
Totals
- Total revenue
- $5,861,380
- Total expenses
- $5,641,476
- Contributions and grants received
- $5,771,690
- Grants paid
- $4,488,045
- Program service revenue
- $0
- Investment income
- $89,690
- Other revenue
- $0
- Total assets, end of year
- $80,256,119
- Total liabilities, end of year
- $1,589,471
- Net assets or fund balances, end of year
- $78,666,648
- Program services expenses (Part IX)
- $4,488,045
- Management and general expenses
- $960,035
- Fundraising expenses
- $193,396
- Program service expenses (Part III)
- $4,488,045
Program services were 79.6% 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
$5,771,690
-
1g · Noncash contributions included above
$142,123
-
3 · Investment income
total $35,338 · excluded $35,338
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6c · Rental income or loss
real property $0 · personal property $0
-
6d · Net rental income or loss
total $0
-
7a · Gross sales of assets other than inventory
securities $929,343
-
7b · Less cost or other basis and sales expenses
securities $874,991
-
7c · Gain or loss
securities $54,352
-
7d · Net gain or loss
total $54,352 · excluded $54,352
-
8a · Fundraising events: gross income
$0
-
8b · Fundraising events: direct expenses
$0
-
8c · Net income from fundraising events
total $0
-
9a · Gaming: gross income
$0
-
9b · Gaming: direct expenses
$0
-
9c · Net income from gaming
total $0
-
10a · Gross sales of inventory
$0
-
10b · Cost of goods sold
$0
-
10c · Net income from sales of inventory
total $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $1,083,361 · program services $1,083,361
-
2 · Grants to domestic individuals
total $3,404,684 · program services $3,404,684
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $0
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $0
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $0
-
11a · Fees: management
total $1,496 · management and general $1,496
-
11b · Fees: legal
total $1,124 · management and general $1,124
-
11c · Fees: accounting
total $17,855 · management and general $17,855
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $276,747 · management and general $276,747
-
11g · Fees: other
total $7,229 · management and general $7,229
-
12 · Advertising and promotion
total $0
-
13 · Office expenses
total $32,098 · management and general $19,258 · fundraising $12,840
-
14 · Information technology
total $157,544 · management and general $157,544
-
15 · Royalties
total $0
-
16 · Occupancy
total $228,643 · management and general $228,643
-
17 · Travel
total $11,707 · management and general $11,707
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $183,339 · management and general $183,339
-
23 · Insurance
total $52,097 · management and general $52,097
-
24a · Other expenses: EVENT EXPENSES
total $180,556 · fundraising $180,556
-
24b · Other expenses: STUDENT SERVICES
total $2,496 · management and general $2,496
-
24c · Other expenses: TAXES
total $500 · management and general $500
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $994,659 · end of year $478,562
-
2 · Savings and temporary cash investments
beginning of year $47,756 · end of year $73,681
-
3 · Pledges and grants receivable
beginning of year $885,785 · end of year $1,728,266
-
4 · Accounts receivable
beginning of year $0 · end of year $0
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $0 · end of year $0
-
8 · Inventories for sale or use
beginning of year $0 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $61,266 · end of year $166,119
-
10a · Land, buildings and equipment: cost or other basis
$7,357,862
-
10b · Land, buildings and equipment: accumulated depreciation
$1,269,924
-
10c · Land, buildings and equipment, net
beginning of year $5,113,294 · end of year $6,087,938
-
11 · Investments: publicly traded securities
beginning of year $0 · end of year $0
-
12 · Investments: other securities
beginning of year $63,239,388 · end of year $71,721,553
-
13 · Investments: program-related
beginning of year $0 · end of year $0
-
14 · Intangible assets
beginning of year $0 · end of year $0
-
15 · Other assets
beginning of year $0 · end of year $0
-
17 · Accounts payable and accrued expenses
beginning of year $212,622 · end of year $254,284
-
18 · Grants payable
beginning of year $0 · end of year $0
-
19 · Deferred revenue
beginning of year $0 · end of year $0
-
20 · Tax-exempt bond liabilities
beginning of year $0 · end of year $0
-
21 · Escrow or custodial account liability
beginning of year $0 · end of year $0
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
23 · Secured mortgages and notes payable
beginning of year $0 · end of year $0
-
24 · Unsecured notes and loans payable
beginning of year $0 · end of year $0
-
25 · Other liabilities
beginning of year $439,964 · end of year $1,335,187
-
27 · Net assets without donor restrictions
beginning of year $20,231,974 · end of year $20,981,398
-
28 · Net assets with donor restrictions
beginning of year $49,457,588 · end of year $57,685,250
Mission and programs · 2024
Mission
TO ASSIST BRIDGEWATER STATE UNIVERSITY IN ACHIEVING ITS GOAL OF EXCELLENCE IN ITS MAJOR FUNCTIONS OF TEACHING, LEARNING, AND RESEARCH IN THOSE EDUCATIONAL AREAS WHERE LITTLE OR NO STATE FUNDING IS AVAILABLE TO THE INSTITUTION.
-
EXPENSES WERE INCURRED TO AWARD STUDENT SCHOLARSHIPS AND FINANCIAL ASSISTANCE TO STUDENTS OF BRIDGEWATER STATE UNIVERSITY.
Expenses $3,404,684 · Grants $3,404,684
-
GIFTS TO BRIDGEWATER STATE UNIVERSITY TO ASSIST THE UNIVERSITY IN PROMOTING AREAS OF EDUCATION AND RESEARCH WHICH DO NOT RECEIVE STATE FUNDING.
Expenses $953,861 · Grants $953,861
-
Withheld by Nonprofiteer: this text may name a private individual.
Expenses $129,500 · Grants $129,500
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here. A text marked withheld matched a screen for wording that may name a private individual, such as an honorific or "in memory of". Most of what it withholds names no one; it is withheld so that what does is never shown.
Listed in Part VII
-
Ellen Cuttle Oliver
Exec. Dir. of Fdn, AVP & CDO
- Total calculated
- $270,900
- From this org
- $0
- From related orgs
- $188,859
- Other
- $82,041
- Hours/week
- 10 + 30 related
Schedule J breakdown matched by us
- Base
- $0 + $188,859 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $35,185 related
- Nontaxable benefits
- $0 + $46,856 related
- Filer's total
- $0 + $270,900 related
-
Elizabeth Dubuque
Exec. Director, Alumni and Dev
- Total calculated
- $189,176
- From this org
- $0
- From related orgs
- $131,885
- Other
- $57,291
- Hours/week
- 10 + 30 related
Schedule J breakdown matched by us
- Base
- $0 + $131,885 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $24,570 related
- Nontaxable benefits
- $0 + $32,721 related
- Filer's total
- $0 + $189,176 related
-
Margaret Campbell
Dir, Major Gifts & PlanneD GVG
- Total calculated
- $172,520
- From this org
- $0
- From related orgs
- $120,273
- Other
- $52,247
- Hours/week
- 10 + 30 related
Schedule J breakdown matched by us
- Base
- $0 + $120,273 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $22,407 related
- Nontaxable benefits
- $0 + $29,840 related
- Filer's total
- $0 + $172,520 related
-
Scott Enos
Dir. of Alumni & Development
- Total calculated
- $157,982
- From this org
- $0
- From related orgs
- $110,138
- Other
- $47,844
- Hours/week
- 10 + 30 related
Schedule J breakdown matched by us
- Base
- $0 + $110,138 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $20,519 related
- Nontaxable benefits
- $0 + $27,325 related
- Filer's total
- $0 + $157,982 related
-
David P Rumrill
BOARD CHAIRPERSON
- Total calculated
- $0
- Hours/week
- 0.5
-
Phyllis A Klock
1ST VICE CHAIRPERSON
- Total calculated
- $0
- Hours/week
- 0.5
-
Thomas L Magee
2ND VICE CHAIRPERSON
- Total calculated
- $0
- Hours/week
- 0.5
-
Sharon A Mutrie
SECRETARY
- Total calculated
- $0
- Hours/week
- 0.5
-
Daniel W Smith
Treasurer
- Total calculated
- $0
- Hours/week
- 0.5
-
Joseph P St Laurent
Immediate Past Chair
- Total calculated
- $0
- Hours/week
- 0.5
-
Paul A Bonitto
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Jeremy S David
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Steven R Goodyear
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
George K Gurley
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Aenis S Harris
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Lori D Hindle
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Wayne G Lombardi
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Michelle I O'Connor
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Louis M Ricciardi
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Jack C Badavas
Student Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Michael Taylor
director - BSU BOT Chair
- Total calculated
- $0
- Hours/week
- 0.5
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
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
-
Bridgewater State University
$953,861
Support of the University
-
What on Earth Publishing LLC
$129,500
support publishing of 13 state chronicles
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.
-
BRIDGEWATER ALUMNI ASSOCIATION
501(C)(3) · SCH. & GRANTS · MA
Directly controlled by NA
-
BRIDGEWATER STATE UNIVERSITY
115 · HIGHER EDUC. · MA
Directly controlled by NA
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 15 May 2026
- IRS schema version
- 2024v5.2
- Source object
- 202611349349313351
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