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← THE COLLEGE OF SOUTHERN MARYLAND FOUNDATION INC

Form 990 for tax year 2022

Filed by THE COLLEGE OF SOUTHERN MARYLAND FOUNDATION INC.

What the amendment changed

Compared with the return it replaced , filed 14 May 2024. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Contributions and grants received
$1,042,856 changed to $1,032,131
Other revenue
-$25,424 changed to -$14,699

Totals

Total revenue
$1,313,419
Total expenses
$1,311,862
Contributions and grants received
$1,032,131
Grants paid
$1,114,989
Program service revenue
$0
Investment income
$295,987
Other revenue
-$14,699
Total assets, end of year
$16,515,854
Total liabilities, end of year
$67,435
Net assets or fund balances, end of year
$16,448,419
Program services expenses (Part IX)
$1,135,840
Management and general expenses
$145,208
Fundraising expenses
$30,814
Program service expenses (Part III)
$1,135,840

Program services were 86.6% 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

    $68,768

  • 1f · All other contributions, gifts and grants

    $963,363

  • 1g · Noncash contributions included above

    $30,068

  • 3 · Investment income

    total $296,020 · excluded $296,020

  • 7a · Gross sales of assets other than inventory

    securities $3,915,209

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

    securities $3,915,242

  • 7c · Gain or loss

    securities -$33

  • 7d · Net gain or loss

    total -$33 · excluded -$33

  • 8a · Fundraising events: gross income

    $10,800

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

    $68,768

  • 8b · Fundraising events: direct expenses

    $25,499

  • 8c · Net income from fundraising events

    total -$14,699 · excluded -$14,699

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $146,792 · program services $146,792

  • 2 · Grants to domestic individuals

    total $968,197 · program services $968,197

  • 7 · Other salaries and wages

    total $9,152 · management and general $9,152

  • 9 · Other employee benefits

    total $1,470 · management and general $1,470

  • 10 · Payroll taxes

    total $752 · management and general $752

  • 11c · Fees: accounting

    total $12,695 · management and general $12,695

  • 12 · Advertising and promotion

    total $98,819 · program services $19,533 · management and general $48,746 · fundraising $30,540

  • 13 · Office expenses

    total $64,192 · management and general $64,192

  • 14 · Information technology

    total $274 · fundraising $274

  • 24a · Other expenses: SUBSCRIPTIONS

    total $8,201 · management and general $8,201

  • 24e · All other expenses

    total $1,318 · program services $1,318

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $2,339,459 · end of year $878,509

  • 3 · Pledges and grants receivable

    beginning of year $180,118 · end of year $282,754

  • 11 · Investments: publicly traded securities

    beginning of year $10,056,392 · end of year $12,195,408

  • 15 · Other assets

    beginning of year $2,879,291 · end of year $3,159,183

  • 17 · Accounts payable and accrued expenses

    beginning of year $41,697 · end of year $67,435

  • 27 · Net assets without donor restrictions

    beginning of year $558,181 · end of year $520,756

  • 28 · Net assets with donor restrictions

    beginning of year $14,855,382 · end of year $15,927,663

Mission and programs · 2022

Mission

THE COLLEGE OF SOUTHERN MARYLAND (CSM) FOUNDATION, INC OPERATES EXCLUSIVELY FOR THE CHARITABLE AND EDUCATIONAL PURPOSES OF SUPPORTING THE COLLEGE OF SOUTHERN MARYLAND AND ITS STUDENTS AND FACULTY. CONTINUED ON SCHEDULE O.COMPRISED OF AN ALL-VOLUNTEER TRI-COUNTY BOARD OF DIRECTORS, THE CSM FOUNDATION RAISES FRIENDS AND FUNDS TO SUPPORT STUDENTS AND COLLEGE INITIATIVES. WE PROMOTE SCHOLARSHIPS, PROGRAMS, TECHNOLOGY, PROFESSIONAL DEVELOPMENT AND SPECIAL PROJECTS THAT STRENGTHEN AND DEVELOP CSM AND OUR STUDENTS.

Activities or mission (Part I)

SOLICIT AND INVEST FUNDS TO SUPPORT EDUCATIONAL ACTIVITIES OF THE COLLEGE OF SOUTHERN MARYLAND.

  • DURING FISCAL YEAR 2023, THE FOUNDATION FUNDED SCHOLARSHIPS TO 852 DIFFERENT STUDENTS AWARDED BY THE COLLEGE OF SOUTHERN MARYLAND, MADE DONATIONS TO THE COLLEGE'S TECHNOLOGY RESOURCES, PHYSICAL EDUCATION WELLNESS CENTER, AND SUPPORTED OTHER PROGRAMS FOR THE BENEFIT OF THE COLLEGE, ITS FACULTY, AND STUDENTS.

    Expenses $1,135,840 · Grants $1,114,989

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

Listed in Part VII

  • Randall Williams

    CHAIR

    Total calculated
    $0
    Hours/week
    0.4

  • Kimberly Rosenfield

    IMMEDIATE PAST CHAIR

    Total calculated
    $0
    Hours/week
    0.4

  • Trey Proctor

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.4

  • Jose Gonzalez

    TRUSTEE LIAISON

    Total calculated
    $0
    Hours/week
    0.1

  • Brenda Lowe

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Dexter Bordes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Danielle Conrow

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Natalie Cotton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Mary Hannah

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Theodore Harwood

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Carolyn Heithaus

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Janna Jackson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Julie Lemmon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Michael Meisel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Dixie Miller

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • James Norris Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • David Osterhouse

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Kelly Robertson-Slagle

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Harry Shasho

    DIRECTOR (UNTIL 12/22)

    Total calculated
    $0
    Hours/week
    0.1

  • Teresa Tiki Shasho

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Samantha Stratchko

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Kevin Switick

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Dennis Eric Vrem

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Joanna Yakaitis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Judith Mills

    VICE PRESIDENT, DIVISION OF FINANCIAL SERVICES

    Total calculated
    $143,970
    From this org
    $0
    From related orgs
    $122,186
    Other
    $21,784
    Hours/week
    8 + 32 related

  • Dr Maureen Murphy

    SECRETARY/TREASURER

    Total calculated
    $402,786
    From this org
    $0
    From related orgs
    $335,005
    Other
    $67,781
    Hours/week
    3 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $324,176 related
    Bonus
    $0
    Other
    $0 + $10,829 related
    Deferred
    $0 + $24,288 related
    Nontaxable benefits
    $0 + $43,493 related
    Filer's total
    $0 + $402,786 related

  • Dr Yolanda Wilson

    SECRETARY/TREASURER

    Total calculated
    $297,374
    From this org
    $0
    From related orgs
    $265,126
    Other
    $32,248
    Hours/week
    3 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $233,426 related
    Bonus
    $0
    Other
    $0 + $31,700 related
    Deferred
    $0 + $20,010 related
    Nontaxable benefits
    $0 + $12,238 related
    Filer's total
    $0 + $297,374 related

  • Chelsea Clute

    EXECUTIVE DIRECTOR

    Total calculated
    $94,439
    From this org
    $0
    From related orgs
    $79,911
    Other
    $14,528
    Hours/week
    8 + 32 related

  • Toni Kruszka

    ALUMNI AND DONOR RELATIONS MANAGER

    Total calculated
    $100,073
    From this org
    $0
    From related orgs
    $79,855
    Other
    $20,218
    Hours/week
    8 + 32 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 FOUNDATION MAKES NO DIRECT COMPENSATION PAYMENTS. EMPLOYEES ARE PAID BY THE COLLEGE OF SOUTHERN MARYLAND. THE COLLEGE'S HUMAN RESOURCE DEPARTMENT MONITORS THE COMPENSATION PROGRAM BASED ON ONGOING ANALYSIS OF JOB FUNCTIONS AND MARKET WAGE/BENEFIT RATES. A BOARD COMMITTEE OVERSEES THE OVERALL COMPENSATION PROGRAMS AND RECOMMENDS POLICY TO THE BOARD FOR APPROVAL. THE COLLEGE'S BOARD OF TRUSTEES APPROVES THE OVERALL COMPENSATION PROGRAM FOR ALL EMPLOYEES, INCLUDING THE EXECUTIVE DIRECTOR OF THE FOUNDATION.

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

  • COLLEGE OF SOUTHERN MARYLAND

    $146,792

    TO PROVIDE RESOURCES TO THE COLLEGE IN FURTHERANCE OF THEIR EDUCATION MISSION.

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.

  • COLLEGE OF SOUTHERN MAYLAND

    COLLEGE - EDUCATION · MD

Provenance

Return type
form_990
Tax year
2022
Filed
16 October 2024
IRS schema version
2022v5.0
Source object
202443269349300324

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