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Nonprofiteer
← ST MARYS COLLEGE OF MARYLAND FOUNDATION INC

Form 990 for tax year 2023

Filed by ST MARYS COLLEGE OF MARYLAND FOUNDATION INC.

Totals

Total revenue
$4,762,014
Total expenses
$3,556,297
Contributions and grants received
$2,532,189
Grants paid
$2,330,960
Program service revenue
$175,322
Investment income
$2,053,306
Other revenue
$1,197
Total assets, end of year
$55,717,445
Total liabilities, end of year
$849,132
Net assets or fund balances, end of year
$54,868,313
Program services expenses (Part IX)
$2,793,436
Management and general expenses
$610,279
Fundraising expenses
$152,582
Program service expenses (Part III)
$2,793,436

Program services were 78.5% 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.

  • 1b · Membership dues

    $8,491

  • 1f · All other contributions, gifts and grants

    $2,523,698

  • 1g · Noncash contributions included above

    $49,985

  • 2a · Program service revenue: EVENT REVENUE

    total $175,322 · related or exempt $175,322

  • 3 · Investment income

    total $1,052,778 · excluded $1,052,778

  • 7a · Gross sales of assets other than inventory

    securities $1,279,385

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

    securities $278,857

  • 7c · Gain or loss

    securities $1,000,528

  • 7d · Net gain or loss

    total $1,000,528 · related or exempt $1,000,528

  • 10a · Gross sales of inventory

    $1,197

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $1,197 · related or exempt $1,197

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,608,462 · program services $1,608,462

  • 2 · Grants to domestic individuals

    total $722,498 · program services $722,498

  • 11b · Fees: legal

    total $10,000 · management and general $10,000

  • 11c · Fees: accounting

    total $39,746 · management and general $39,746

  • 11d · Fees: lobbying

    total $60,000 · management and general $60,000

  • 11e · Fees: professional fundraising services

    total $105,000 · fundraising $105,000

  • 11f · Fees: investment management

    total $181,948 · management and general $181,948

  • 11g · Fees: other

    total $60,280 · program services $5,200 · management and general $55,080

  • 12 · Advertising and promotion

    total $21,324 · management and general $2,500 · fundraising $18,824

  • 13 · Office expenses

    total $38,636 · program services $200 · management and general $38,385 · fundraising $51

  • 14 · Information technology

    total $53,298 · management and general $53,298

  • 17 · Travel

    total $51,117 · program services $23,907 · management and general $24,862 · fundraising $2,348

  • 19 · Conferences, conventions and meetings

    total $201,882 · program services $134,278 · management and general $53,926 · fundraising $13,678

  • 23 · Insurance

    total $22,352 · program services $382 · management and general $21,970

  • 24a · Other expenses: EVENT EXPENSE

    total $289,121 · program services $227,614 · management and general $49,256 · fundraising $12,251

  • 24b · Other expenses: GIFT ANNUITY EXPENSE

    total $65,598 · program services $65,598

  • 24c · Other expenses: GIFTS/FLOWERS

    total $11,401 · program services $653 · management and general $10,318 · fundraising $430

  • 24d · Other expenses: UNCOLLECTED PLEDGE EXPE

    total $5,000 · management and general $5,000

  • 24e · All other expenses

    total $8,634 · program services $4,644 · management and general $3,990

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $1,211,245 · end of year $6,857,783

  • 3 · Pledges and grants receivable

    beginning of year $3,274,470 · end of year $3,208,489

  • 4 · Accounts receivable

    beginning of year $126,894 · end of year $110,169

  • 9 · Prepaid expenses and deferred charges

    beginning of year $43,187 · end of year $51,724

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

    $14,001

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

    $12,800

  • 10c · Land, buildings and equipment, net

    beginning of year $1,201 · end of year $1,201

  • 11 · Investments: publicly traded securities

    beginning of year $35,653,338 · end of year $32,745,809

  • 12 · Investments: other securities

    beginning of year $11,571,846 · end of year $12,555,316

  • 15 · Other assets

    beginning of year $177,889 · end of year $186,954

  • 17 · Accounts payable and accrued expenses

    beginning of year $138,474 · end of year $153,209

  • 25 · Other liabilities

    beginning of year $726,273 · end of year $695,923

  • 27 · Net assets without donor restrictions

    beginning of year $1,644,656 · end of year $1,840,831

  • 28 · Net assets with donor restrictions

    beginning of year $49,550,667 · end of year $53,027,482

Mission and programs · 2023

Mission

OUR MISSION IS TO INITIATE, CULTIVATE AND MAINTAIN STRONG LIFELONG RELATIONSHIPS WITH ALUMNI, FRIENDS AND PARTNERS BY CREATING A CULTURE OF GIVING, VOLUNTEER LEADERSHIP AND EXEMPLARY FIDUCIARY RESPONSIBILITY TOWARD THE GOAL OF A BRIGHT FUTURE AS A PREFERRED PUBLIC LIBERAL ARTS HONORS INSTITUTION.

Activities or mission (Part I)

INITIATE, CULTIVATE AND MAINTAIN STRONG LIFELONG RELATIONSHIPS WITH ALUMNI, FRIENDS AND PARTNERS BY CREATING A CULTURE OF GIVING, VOLUNTEER LEADERSHIP AND EXEMPLARY FIDUCIARY RESPONSIBILITY TOWARD THE GOAL OF A BRIGHT FUTURE AS A PREFERRED PUBLIC LIBERAL ARTS HONORS INSTITUTION.

  • COLLEGE DEPARTMENT / DIVISION SUPPORT - PROGRAM AND DEPARTMENT SUPPORT, INCLUDING FACULTY INITIATIVES, LECTURE SERIES, CONFERENCE REGISTRATION FEES, TRAVEL SUPPORT, RESEARCH, MEETING SUPPLIES AND REFRESHMENTS, EQUIPMENT, PRESENTATIONS, AND FILM SCREENINGS. PROGRAMS AND DEPARTMENTS SUPPORTED INCLUDE LIBRARY, EDUCATIONAL STUDIES, MUSIC, THE SCIENCES, CAREER SERVICES, COMPUTER STUDIES, AND MATHEMATICS. ALSO, PROVIDE SUPPLEMENTARY FUNDING FOR THE ATHLETICS DEPARTMENT AND ATHLETIC TEAMS OF ST. MARY'S COLLEGE OF MARYLAND.

    Expenses $2,070,938 · Grants $1,608,462 · Revenue $176,519

  • SCHOLARSHIP AND AWARDS SUPPORT- PROVIDE SCHOLARSHIP AND INTERNSHIP SUPPORT, AWARDS AND RESEARCH STIPENDS TO STUDENTS OF ST. MARY'S COLLEGE OF MARYLAND. IN FY24, 269 SCHOLARSHIPS FROM 85 FUNDS WERE AWARDED. THERE WERE 71 AWARDS GIVEN TO STUDENTS, MANY AT AWARDS CONVOCATION HONORING OUTSTANDING STUDENT ACHIEVEMENTS. 1 STUDENT WAS PROVIDED SUPPORT TO ENABLE THEM TO COMPLETE AN INTERNSHIP, WHICH PROVIDES AN EXCELLENT SETTING FOR PROFESSIONAL DEVELOPMENT, WORKPLACE DISCIPLINE, SUBJECT SPECIFIC JOB EXPERIENCE AND NETWORKING OPPORTUNITIES. 9 STUDENTS WERE AWARDED STIPENDS TO HELP WITH UNDERGRADUATE RESEARCH PROJECTS.

    Expenses $722,498 · Grants $722,498

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • DANIEL SCHIFFMAN

    PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • THOMASINA HIERS-JOHNSON

    VICE PRESIDENT AS OF 09/2023

    Total calculated
    $0
    Hours/week
    1

  • PAUL SCHULTHEIS

    VICE PRESIDENT UNTIL 09/2023

    Total calculated
    $0
    Hours/week
    1

  • R SCOTT RASPA

    TREASURER AS OF 09/2023

    Total calculated
    $0
    Hours/week
    1

  • CHRISTOPHER HOLT

    TREASURER UNTIL 09/2023

    Total calculated
    $0
    Hours/week
    1

  • BONNIE GREEN

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • EDWARD SIRIANNO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • BLU PUTNAM

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • MICHAEL O'BRIEN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • SUSAN PAUL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • NICOLE WEST

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • BRITTANY GORE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • GEORGE ANAS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • JOSEPH BRYAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • AMIR REDA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • NIKOLA SUTHERLAND

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • CAROLYN CURRY

    EXECUTIVE DIRECTOR

    Total calculated
    $284,449
    From this org
    $0
    From related orgs
    $255,501
    Other
    $28,948
    Hours/week
    16 + 24 related

    Schedule J breakdown matched by us

    Base
    $0 + $228,637 related
    Bonus
    $0
    Other
    $0 + $26,864 related
    Deferred
    $0 + $17,843 related
    Nontaxable benefits
    $0 + $11,105 related
    Filer's total
    $0 + $284,449 related

  • JACQUELINE WRIGHT

    DIRECTOR OF FOUND. FIN. AND ADMIN.

    Total calculated
    $151,538
    From this org
    $0
    From related orgs
    $115,187
    Other
    $36,351
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $115,187 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $25,338 related
    Nontaxable benefits
    $0 + $11,013 related
    Filer's total
    $0 + $151,538 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 EXECUTIVE DIRECTOR IS COMPENSATED BY ST. MARY'S COLLEGE, A RELATED TAX-EXEMPT ORGANIZATION. FOLLOWING THE ANNUAL PERFORMANCE EVALUATION BY THE PRESIDENT OF THE COLLEGE, A COMPENSATION MERIT INCREASE PERCENTAGE IS DETERMINED ANNUALLY. ADDITIONALLY, THE EXECUTIVE DIRECTOR RECEIVES COST OF LIVING ADJUSTMENTS (COLA) WAGE INCREASES (PERCENTAGE) AS AND WHEN DETERMINED BY THE STATE OF MARYLAND FOR OUR AGENCY.

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

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.

Provenance

Return type
form_990
Tax year
2023
Filed
10 April 2025
IRS schema version
2023v6.0
Source object
202531089349301328

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