Form 990 for tax year 2023
Filed by SALISBURY UNIVERSITY FOUNDATION INC.
Totals
- Total revenue
- $8,338,038
- Total expenses
- $6,241,851
- Contributions and grants received
- $5,364,283
- Grants paid
- $3,023,574
- Program service revenue
- $218,425
- Investment income
- $2,708,079
- Other revenue
- $47,251
- Total assets, end of year
- $125,344,982
- Total liabilities, end of year
- $2,479,725
- Net assets or fund balances, end of year
- $122,865,257
- Program services expenses (Part IX)
- $4,841,602
- Management and general expenses
- $1,060,178
- Fundraising expenses
- $340,071
- Program service expenses (Part III)
- $4,841,602
Program services were 77.6% 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.
-
1c · Fundraising events
$22,079
-
1f · All other contributions, gifts and grants
$5,342,204
-
1g · Noncash contributions included above
$650,092
-
2a · Program service revenue: EVENT REGISTRATIONS
total $124,044 · related or exempt $124,044
-
2b · Program service revenue: ALL OTHER PROGRAM SERVICE REVENU
total $52,476 · related or exempt $52,476
-
2c · Program service revenue: MEMBERSHIP INCOME
total $41,905 · related or exempt $41,905
-
3 · Investment income
total $2,309,357 · excluded $2,309,357
-
7a · Gross sales of assets other than inventory
securities $3,533,025
-
7b · Less cost or other basis and sales expenses
securities $3,134,303
-
7c · Gain or loss
securities $398,722
-
7d · Net gain or loss
total $398,722 · related or exempt $398,722
-
8a · Fundraising events: gross income
$366,314
-
8a · Fundraising events: contributions included on line 1c
$22,079
-
8b · Fundraising events: direct expenses
$415,264
-
8c · Net income from fundraising events
total -$48,950 · excluded -$48,950
-
11a · Other revenue: MISCELLANOUS INCOME
total $96,201 · related or exempt $96,201
-
11e · Other revenue, total
$96,201
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $2,628,836 · program services $2,628,836
-
2 · Grants to domestic individuals
total $394,738 · program services $394,738
-
7 · Other salaries and wages
total $937,024 · program services $224,442 · management and general $534,436 · fundraising $178,146
-
11f · Fees: investment management
total $180,499 · management and general $180,499
-
17 · Travel
total $252,024 · program services $245,879 · management and general $1,810 · fundraising $4,335
-
19 · Conferences, conventions and meetings
total $366,873 · program services $297,955 · management and general $27,280 · fundraising $41,638
-
20 · Interest
total $130,570 · management and general $130,570
-
22 · Depreciation, depletion and amortization
total $9,086 · program services $161 · management and general $8,925
-
24a · Other expenses: SUPPLIES AND EQUIPMENT
total $491,590 · program services $437,615 · management and general $53,975
-
24b · Other expenses: SPECIAL SERVICES
total $454,980 · program services $378,701 · management and general $44,442 · fundraising $31,837
-
24c · Other expenses: GENERAL & ADMINISTRATIV
total $225,900 · program services $74,069 · management and general $67,716 · fundraising $84,115
-
24d · Other expenses: CHARITABLE DONATIONS
total $105,801 · program services $95,276 · management and general $10,525
-
24e · All other expenses
total $63,930 · program services $63,930
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $54,042 · end of year $327,888
-
2 · Savings and temporary cash investments
beginning of year $11 · end of year $6,598
-
3 · Pledges and grants receivable
beginning of year $3,672,947 · end of year $3,377,508
-
4 · Accounts receivable
beginning of year $4,252
-
8 · Inventories for sale or use
beginning of year $4,415 · end of year $16,829
-
9 · Prepaid expenses and deferred charges
beginning of year $110,867 · end of year $70,740
-
10a · Land, buildings and equipment: cost or other basis
$530,267
-
10b · Land, buildings and equipment: accumulated depreciation
$435,641
-
10c · Land, buildings and equipment, net
beginning of year $106,148 · end of year $94,626
-
12 · Investments: other securities
beginning of year $100,936,074 · end of year $117,459,711
-
15 · Other assets
beginning of year $5,648,854 · end of year $3,991,082
-
17 · Accounts payable and accrued expenses
beginning of year $43,709 · end of year $138,314
-
19 · Deferred revenue
beginning of year $144,617 · end of year $108,225
-
23 · Secured mortgages and notes payable
beginning of year $1,752,486 · end of year $1,752,486
-
25 · Other liabilities
beginning of year $471,847 · end of year $480,700
-
27 · Net assets without donor restrictions
beginning of year $10,133,286 · end of year $12,811,266
-
28 · Net assets with donor restrictions
beginning of year $97,991,665 · end of year $110,053,991
Mission and programs · 2023
Mission
THE PURPOSE OF THE FOUNDATION IS TO ENRICH THE ACTIVITIES, EDUCATIONAL PROGRAMS, ATHLETICS AND SCHOLARSHIPS OF SALISBURY UNIVERSITY.
Activities or mission (Part I)
TO ENRICH THE ACTIVITIES, EDUCATIONAL PROGRAMS, ATHLETICS AND SCHOLARSHIPS OF SALISBURY UNIVERSITY.
-
ACADEMIC ADMINISTRATION
Expenses $512,215 · Grants $70,569
-
ENDOWED COLLEGES AND SCHOOLS
Expenses $3,431,483 · Grants $2,664,347
-
ATHLETICS AND CAMPUS RECREATION
Expenses $547,798 · Grants $69,238
-
OUTREACH
Expenses $350,106 · Grants $219,420
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
DR PETER JACKSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
CYNTHIA BOUNDS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
HOWARD CROSSAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
DR MARK BOWEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
JASON CURTIN
EXECUTIVE DIRECTOR
- Total calculated
- $0
- Hours/week
- 10
-
PETE BUZY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
GARY DESJARDINS
TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
DR ROBERT CLARKE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MICHELE GARIGLIANO
IMMEDIATE PAST CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
DR SIMONA ENG
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
RICHARD GIVENS II
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
SAMANTHA HOWARD
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
SONYA WHITED
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
JOE DORREGO
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
RON MCGANN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
ASHLEY STERN
CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
DR JULIUS D ZANT
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
KIMMERLY MESSICK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
PHYLLIS VINYARD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
JULIUS M JONES JR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
J MICHAEL SCARBOROUGH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MARK SMITH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
LOUIS TAYLOR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
DAWN L ADKINS-HARCUM
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
RUBY BROWN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
DAVID J HARKINS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
ERIC MCLAUCHLIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
NICOLE D TURNER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
STEPHEN FARROW
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
WILLIAM HALL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
DR CHARLES B SILVIA JR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MARIA WALLER
DIRECTOR
- 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
-
$167,573
DONATION FOR DELMARVA PUBLIC RADIO
-
$23,052
STUDENT ACTIVITIES PROGRAM
-
$11,401
CENTER FOR CONFLICT RESOLUTION
-
$10,000
OTHER STUDENT ACTIVITIES
-
$5,748
DONATION FOR COLLEGE OF HEALTH AND HUMAN SERVICES
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.
-
SALISBURY UNIV REAL ESTATE FOUNDATION
501(C)(3) · SEE SCHEDULE O · MD
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
REAL ESTATE · MD
Directly controlled by SUF INC
-
REAL ESTATE · MD
Directly controlled by SUF INC
-
REAL ESTATE · MD
Directly controlled by SUF INC
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 20 January 2025
- IRS schema version
- 2023v6.0
- Source object
- 202520209349300412
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