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Nonprofiteer
← LOCK HAVEN UNIVERSITY FOUNDATION

Form 990 for tax year 2024

Filed by LOCK HAVEN UNIVERSITY FOUNDATION.

Totals

Total revenue
$5,118,813
Total expenses
$3,518,436
Contributions and grants received
$1,710,657
Grants paid
$942,572
Program service revenue
$1,199,404
Investment income
$1,308,718
Other revenue
$900,034
Total assets, end of year
$29,688,716
Total liabilities, end of year
$8,252,730
Net assets or fund balances, end of year
$21,435,986
Program services expenses (Part IX)
$1,874,157
Management and general expenses
$1,145,412
Fundraising expenses
$498,867
Program service expenses (Part III)
$1,874,157

Program services were 53.3% 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.

  • 1f · All other contributions, gifts and grants

    $1,710,657

  • 1g · Noncash contributions included above

    $18,049

  • 2a · Program service revenue: CONTRACTED SERVICES

    total $903,833 · related or exempt $903,833

  • 2b · Program service revenue: ATHLETICS REVENUE

    total $295,571 · related or exempt $295,571

  • 3 · Investment income

    total $436,042 · excluded $436,042

  • 6a · Gross rents

    real property $2,244,984

  • 6b · Less rental expenses

    real property $1,918,522

  • 6c · Rental income or loss

    real property $326,462

  • 6d · Net rental income or loss

    total $326,462 · related or exempt $326,462

  • 7a · Gross sales of assets other than inventory

    securities $872,676

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

    securities $0

  • 7c · Gain or loss

    securities $872,676

  • 7d · Net gain or loss

    total $872,676 · excluded $872,676

  • 8a · Fundraising events: gross income

    $172,020

  • 8b · Fundraising events: direct expenses

    $68,418

  • 8c · Net income from fundraising events

    total $103,602 · excluded $103,602

  • 11a · Other revenue: GAIN ON EXTINGUISHMENT OF DEBT

    total $443,358 · related or exempt $443,358

  • 11b · Other revenue: OTHER REVENUE

    total $16,226 · related or exempt $16,226

  • 11c · Other revenue: DUES, COMMISSION AND GUARANTEES

    total $10,386 · related or exempt $10,386

  • 11e · Other revenue, total

    $469,970

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $942,572 · program services $942,572

  • 5 · Compensation of officers, directors and key employees

    total $164,263 · program services $430 · management and general $92,141 · fundraising $71,692

  • 7 · Other salaries and wages

    total $491,656 · program services $1,628 · management and general $218,891 · fundraising $271,137

  • 9 · Other employee benefits

    total $203,257 · management and general $203,257

  • 10 · Payroll taxes

    total $73,674 · management and general $73,674

  • 11b · Fees: legal

    total $27,310 · management and general $27,310

  • 11c · Fees: accounting

    total $38,200 · management and general $38,200

  • 11g · Fees: other

    total $240,976 · program services $108,689 · management and general $132,287

  • 12 · Advertising and promotion

    total $3,846 · program services $423 · fundraising $3,423

  • 18 · Travel or entertainment for public officials

    total $3,045 · program services $901 · management and general $2,144

  • 22 · Depreciation, depletion and amortization

    total $4,024 · management and general $4,024

  • 23 · Insurance

    total $173,992 · program services $7,210 · management and general $166,782

  • 24a · Other expenses: EQUIPMENT AND SUPPLIES

    total $525,301 · program services $473,410 · management and general $17,884 · fundraising $34,007

  • 24b · Other expenses: HOUSING, MEALS, AND TRA

    total $198,172 · program services $153,089 · fundraising $45,083

  • 24c · Other expenses: MISCELLANEOUS

    total $146,038 · program services $76,081 · management and general $42,966 · fundraising $26,991

  • 24d · Other expenses: LICENSES AND PERMITS

    total $81,227 · management and general $81,227

  • 24e · All other expenses

    total $200,883 · program services $109,724 · management and general $44,625 · fundraising $46,534

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $916,011 · end of year $664,587

  • 2 · Savings and temporary cash investments

    beginning of year $490,220 · end of year $613,277

  • 3 · Pledges and grants receivable

    beginning of year $1,764,489 · end of year $1,563,429

  • 4 · Accounts receivable

    beginning of year $69,465 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $37,470 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $68,439 · end of year $92,194

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

    $19,315,150

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

    $13,820,832

  • 10c · Land, buildings and equipment, net

    beginning of year $5,517,819 · end of year $5,494,318

  • 11 · Investments: publicly traded securities

    beginning of year $18,752,102 · end of year $20,814,723

  • 15 · Other assets

    beginning of year $457,661 · end of year $446,188

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,093,004 · end of year $604,313

  • 19 · Deferred revenue

    beginning of year $32,911 · end of year $83,659

  • 23 · Secured mortgages and notes payable

    beginning of year $7,443,705 · end of year $7,217,894

  • 25 · Other liabilities

    beginning of year $362,131 · end of year $346,864

  • 27 · Net assets without donor restrictions

    beginning of year -$7,051,745 · end of year -$1,832,465

  • 28 · Net assets with donor restrictions

    beginning of year $26,193,670 · end of year $23,268,451

Mission and programs · 2024

Mission

TO GENERATE AND MANAGE RESOURCES FOR THE BENEFIT OF COMMONWEALTH UNIVERSITY - LOCK HAVEN AND ITS STUDENTS.

  • SUPPORT OF COMMONWEALTH UNIVERSITY - LOCK HAVEN'S ACADEMIC PROGRAMS BASED ON THE UNIVERSITY CASE FOR SUPPORT WHICH INCLUDES FACILITY UPGRADES, FACULTY ENHANCEMENTS, GLOBAL HONORS PROGRAMS, INTERNATIONAL EDUCATION, SCIENCE EDUCATION AND STUDENT ENHANCEMENTS AND INTERCOLLEGIATE ATHLETICS.

    Expenses $931,585 · Revenue $1,995,836

  • SUPPORT OF STUDENT SCHOLARSHIPS AND AWARDS BASED ON DONOR DESIGNATION AND CRITERIA. THE ORGANIZATION AWARDS NEARLY 400 ANNUAL SCHOLARSHIPS AND AWARDS TO BOTH FRESHMEN AND UPPERCLASSMEN BASED ON NEED AND MERIT.

    Expenses $942,572 · Grants $942,572

  • OWN AND OPERATE TWO STUDENT HOUSING PROJECTS (EVERGREEN COMMONS AND THE FOUNDATION VILLAGE AT CLEARFIELD) FOR THE BENEFIT OF LOCK HAVEN OR ITS STUDENTS.

As filed on the 2024 return.

Listed in Part VII

  • Jennifer Riter

    CHAIR

    Total calculated
    $0
    Hours/week
    4

  • Milton Stan Allen

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • James Berkebile

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.5

  • Jeffrey Parker

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Ronald Bowes

    MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • Donald Calcagni

    FINANCE COMMITTEE CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • Francis Condino

    ADVANCEMENT COMMITTEE CHAI

    Total calculated
    $0
    Hours/week
    0.5

  • Ann Delcollo

    MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Joseph Koehler

    GOVERNANCE COMMITTEE CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • Robert Lomison

    MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Peggy McFarland

    MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Ed Shifflett

    MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Polly Spangler

    MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Thane Turner

    MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Edward Wright

    MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Ashley Koser

    EXECUTIVE DIRECTOR

    Total calculated
    $150,821
    From this org
    $118,106
    From related orgs
    $0
    Other
    $32,715
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $118,106
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $32,715
    Filer's total
    $150,821

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

  • COMMONWEALTH UNIVERSITY OF PENNSYLVANIA

    $942,572

    SCHOLARSHIPS & AID - SUPPORT OF UNIVERSITY PROGRAMS, STUDENT AND FACULTY SCHOLARSHIPS AND AWARDS, FUNDS TO ASSIST WITH CAPITAL IMPROVEMENTS

Provenance

Return type
form_990
Tax year
2024
Filed
7 April 2026
IRS schema version
2024v5.5
Source object
202610979349300916

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