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Nonprofiteer
← DELAWARE STATE UNIVERSITY FOUNDATION INC

Form 990 for tax year 2022

Filed by DELAWARE STATE UNIVERSITY FOUNDATION INC.

Totals

Total revenue
$14,796,790
Total expenses
$12,076,158
Contributions and grants received
$14,572,537
Grants paid
$8,399,536
Program service revenue
$0
Investment income
$185,712
Other revenue
$38,541
Total assets, end of year
$41,592,921
Total liabilities, end of year
$472,082
Net assets or fund balances, end of year
$41,120,839
Program services expenses (Part IX)
$11,746,674
Management and general expenses
$329,484
Fundraising expenses
$0
Program service expenses (Part III)
$11,746,674

Program services were 97.3% 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.

  • 1c · Fundraising events

    $841,552

  • 1f · All other contributions, gifts and grants

    $13,730,985

  • 1g · Noncash contributions included above

    $5,005,300

  • 3 · Investment income

    total $679,221 · excluded $679,221

  • 6a · Gross rents

    real property $18,684

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $18,684

  • 6d · Net rental income or loss

    total $18,684 · excluded $18,684

  • 7a · Gross sales of assets other than inventory

    securities $716,726

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

    securities $1,210,235

  • 7c · Gain or loss

    securities -$493,509

  • 7d · Net gain or loss

    total -$493,509 · excluded -$493,509

  • 8a · Fundraising events: gross income

    $389,766

  • 8a · Fundraising events: contributions included on line 1c

    $841,552

  • 8b · Fundraising events: direct expenses

    $389,766

  • 8c · Net income from fundraising events

    total $0

  • 11a · Other revenue: REGISTRATION FEES

    total $19,857 · excluded $19,857

  • 11e · Other revenue, total

    $19,857

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $8,399,536 · program services $8,399,536

  • 11b · Fees: legal

    total $10,103 · program services $10,078 · management and general $25

  • 11c · Fees: accounting

    total $2,400 · program services $2,400

  • 11f · Fees: investment management

    total $42,838 · management and general $42,838

  • 11g · Fees: other

    total $1,849,684 · program services $1,814,880 · management and general $34,804

  • 13 · Office expenses

    total $364,688 · program services $221,528 · management and general $143,160

  • 16 · Occupancy

    total $31,550 · program services $31,550

  • 17 · Travel

    total $385,042 · program services $297,177 · management and general $87,865

  • 19 · Conferences, conventions and meetings

    total $46,255 · program services $46,255

  • 22 · Depreciation, depletion and amortization

    total $475,074 · program services $475,074

  • 24a · Other expenses: PRINTING AND PUBLICATIO

    total $277,117 · program services $262,007 · management and general $15,110

  • 24b · Other expenses: OTHER EXPENSES

    total $191,871 · program services $186,189 · management and general $5,682

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $10,926,244 · end of year $8,167,210

  • 3 · Pledges and grants receivable

    beginning of year $840,301 · end of year $879,195

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

    $14,423,640

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

    $1,244,772

  • 10c · Land, buildings and equipment, net

    beginning of year $8,375,925 · end of year $13,178,868

  • 12 · Investments: other securities

    beginning of year $17,192,898 · end of year $19,367,648

  • 17 · Accounts payable and accrued expenses

    beginning of year $120,597 · end of year $1,500

  • 19 · Deferred revenue

    beginning of year $761,975 · end of year $419,721

  • 25 · Other liabilities

    beginning of year $55,061 · end of year $50,861

  • 27 · Net assets without donor restrictions

    beginning of year $20,659,555 · end of year $26,521,030

  • 28 · Net assets with donor restrictions

    beginning of year $15,738,180 · end of year $14,599,809

Mission and programs · 2022

Mission

DELAWARE STATE UNIVERSITY FOUNDATION, INC PROMOTES AND FOSTERS THE EDUCATIONAL INTERESTS OF DELAWARE STATE UNIVERSITY, A PUBLICLY SUPPORTED INSTITUTION OF HIGHER EDUCATION AND A CORPORATION OF THE STATE OF DELAWARE. THE FOUNDATION SEEKS TO CREATE A SIZEABLE MONETARY FUND TO BE USED FOR ANY PROGRAM, PROJECT, OR ENTERPRISE UNDERTAKEN IN THE INTEREST OF THE UNIVERSITY.

Activities or mission (Part I)

TO SECURE AND ADMINISTER PRIVATE FUNDS IN SUPPORT OF ACADEMIC PROGRAMS, STUDENT SCHOLARSHIPS, FACULTY DEVELOPMENT, PUBLIC SERVICE INITIATIVES, AND OTHER PRIORITIES OF DELAWARE STATE UNIVERSITY.

  • TO CREATE A LARGE MONETARY FUND TO SUPPORT THE PROGRAMS, PROJECTS, STUDENTS, AND ENTERPRISE UNDERTAKEN IN THE INTEREST OF DELAWARE STATE UNIVERSITY.

    Expenses $11,746,674 · Grants $8,399,536

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Antione Allen

    UNIVERSITY PRESIDENT

    Total calculated
    $662,065
    From this org
    $0
    From related orgs
    $662,065
    Other
    $0
    Hours/week
    6

    Schedule J breakdown matched by us

    Base
    $0 + $662,065 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $662,065 related

  • Vita Pickrum

    FOUNDATION PRESIDENT (NON-VOTING)

    Total calculated
    $209,388
    From this org
    $0
    From related orgs
    $209,388
    Other
    $0
    Hours/week
    12

    Schedule J breakdown matched by us

    Base
    $0 + $209,388 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $209,388 related

  • Henrietta Savage

    CONTROLLER (NON-VOTING)

    Total calculated
    $82,630
    From this org
    $0
    From related orgs
    $82,630
    Other
    $0
    Hours/week
    12

  • Vincent Rojas

    SECRETARY/TREASURER/DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Enid Wallace-Simms

    CHAIR

    Total calculated
    $0
    Hours/week
    4

  • Nicole Dye-Anderson

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • William Charlton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Cathleen Triggs Jones

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Steve Ewing

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Thomas Horne

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Daryl Graham

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Joseph Purzycki

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Kathleen Shelton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Joceyln Stewart

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • David Kyle Sheppard Esq

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

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

  • DELAWARE STATE UNIVERSITY

    $8,399,536

    TO SUPPORT ACADEMIC PROGRAMS, STUDENT SCHOLARSHIPS, FACULTY DEVELOPMENT, PUBLIC SERVICE INITIATIVES, AND OTHER PRIORITIES OF DELAWARE STATE UNIVERSITY.

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
2022
Filed
10 April 2024
IRS schema version
2022v5.0
Source object
202401039349300720

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