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Nonprofiteer
← ALABAMA STATE UNIVERSITY TRUST FOR EDUCATIONAL EXCELLENCE

Form 990 for tax year 2022

Filed by ALABAMA STATE UNIVERSITY TRUST FOR EDUCATIONAL EXCELLENCE.

Totals

Total revenue
-$1,908,486
Total expenses
$2,682,272
Contributions and grants received
$99,770
Grants paid
$2,514,884
Program service revenue
$0
Investment income
-$2,008,256
Other revenue
$0
Total assets, end of year
$105,702,662
Total liabilities, end of year
$2,026,105
Net assets or fund balances, end of year
$103,676,557
Program services expenses (Part IX)
$2,584,132
Management and general expenses
$98,140
Fundraising expenses
$0
Program service expenses (Part III)
$2,584,132

Program services were 96.3% 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

    $99,770

  • 3 · Investment income

    total $2,484,910 · excluded $2,484,910

  • 7a · Gross sales of assets other than inventory

    securities $89,898,294

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

    securities $94,391,460

  • 7c · Gain or loss

    securities -$4,493,166

  • 7d · Net gain or loss

    total -$4,493,166 · excluded -$4,493,166

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $2,514,884 · program services $2,514,884

  • 11f · Fees: investment management

    total $98,140 · management and general $98,140

  • 24a · Other expenses: LECTURE SERIES

    total $69,248 · program services $69,248

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $11,449,750 · end of year $13,929,611

  • 4 · Accounts receivable

    beginning of year $241,627

  • 11 · Investments: publicly traded securities

    beginning of year $90,180,398 · end of year $91,672,719

  • 15 · Other assets

    beginning of year $50,298 · end of year $100,332

  • 25 · Other liabilities

    beginning of year $0 · end of year $2,026,105

  • 28 · Net assets with donor restrictions

    beginning of year $101,922,073 · end of year $103,676,557

Mission and programs · 2022

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 $2,514,884 TO 126 STUDENTS ATTENDING THE UNIVERSITY.

    Expenses $2,514,884 · Grants $2,514,884

  • 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. A TOTAL OF 1,189 STUDENTS AND OTHERS FROM THE GENERAL POPULATION ATTENDED A COMBINATION OF 41 (12 WERE EDUCATIONAL SERVICES) OFFICIAL AND UNOFFICIAL LECTURE SERIES THAT WERE CONDUCTED IN FISCAL YEAR 2023 BY THE NATIONAL CENTER, WITH FUNDING FOR LECTURES PROVIDED THROUGH THE TRUST FOR EDUCATIONAL EXCELLENCE.

    Expenses $69,248

As filed on the 2022 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
    0

  • Delbert Madison

    PRESIDENT PROTEM

    Total calculated
    $0
    Hours/week
    0

  • Napoleon Bracy Jr

    MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Paulette Edwards

    MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Laraunce Fleming

    MEMBER

    Total calculated
    $0
    Hours/week
    0

  • George Gore

    MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Darrell L Hudson

    MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Mario Lumzy

    MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Tiffany B McCord

    MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Angela McKenzie

    MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Larry Means

    MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Christopher Spencer

    MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Pamela J Ware

    MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Joe Whitt Sr

    MEMBER

    Total calculated
    $0
    Hours/week
    0

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
31 May 2024
IRS schema version
2022v5.0
Source object
202441559349300639

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