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Nonprofiteer
← SHIPPENSBURG UNIVERSITY FOUNDATION

Form 990 for tax year 2022

Filed by SHIPPENSBURG UNIVERSITY FOUNDATION.

Totals

Total revenue
$16,017,700
Total expenses
$9,439,959
Contributions and grants received
$9,581,722
Grants paid
$0
Program service revenue
$4,906,323
Investment income
$1,366,994
Other revenue
$162,661
Total assets, end of year
$93,888,123
Total liabilities, end of year
$18,096,402
Net assets or fund balances, end of year
$75,791,721
Program services expenses (Part IX)
$6,824,545
Management and general expenses
$2,118,725
Fundraising expenses
$496,689
Program service expenses (Part III)
$6,824,545

Program services were 72.3% 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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $146,513

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $9,435,209

  • 1g · Noncash contributions included above

    $2,138,559

  • 2a · Program service revenue: Student Housing/University Leased Property

    total $2,485,837 · related or exempt $2,485,837 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Academic, Cultural & Other

    total $927,577 · related or exempt $927,577 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: Camps, Conferences & Events

    total $897,234 · related or exempt $897,234 · unrelated business $0 · excluded $0

  • 2d · Program service revenue: Child & Family Center

    total $426,949 · related or exempt $426,949 · unrelated business $0 · excluded $0

  • 2e · Program service revenue: Athletics - Misc & Other

    total $168,726 · related or exempt $168,726 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $473,014 · related or exempt $473,014 · unrelated business $0 · excluded $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $9,040,089 · other assets $0

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

    securities $8,146,109 · other assets $0

  • 7c · Gain or loss

    securities $893,980 · other assets $0

  • 7d · Net gain or loss

    total $893,980 · related or exempt $893,980 · unrelated business $0 · excluded $0

  • 8a · Fundraising events: gross income

    $80,982

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

    $146,513

  • 8b · Fundraising events: direct expenses

    $73,807

  • 8c · Net income from fundraising events

    total $7,175 · unrelated business $0 · excluded $7,175

  • 9a · Gaming: gross income

    $33,240

  • 9b · Gaming: direct expenses

    $12,810

  • 9c · Net income from gaming

    total $20,430 · related or exempt $20,430 · unrelated business $0 · excluded $0

  • 11d · All other revenue

    total $135,056 · related or exempt $135,056 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $135,056

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0 · program services $0

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $482,473 · program services $0 · management and general $328,955 · fundraising $153,518

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $1,774,709 · program services $1,152,457 · management and general $577,213 · fundraising $45,039

  • 8 · Pension plan contributions

    total $174,698 · program services $70,221 · management and general $88,594 · fundraising $15,883

  • 9 · Other employee benefits

    total $379,197 · program services $215,379 · management and general $139,241 · fundraising $24,577

  • 10 · Payroll taxes

    total $182,421 · program services $104,289 · management and general $65,188 · fundraising $12,944

  • 11a · Fees: management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $11,065 · program services $1,899 · management and general $9,166 · fundraising $0

  • 11c · Fees: accounting

    total $32,535 · program services $0 · management and general $32,535 · fundraising $0

  • 11d · Fees: lobbying

    total $18,353 · program services $18,353 · management and general $0 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11g · Fees: other

    total $426,250 · program services $426,250 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $18,288 · program services $12,881 · management and general $5,407 · fundraising $0

  • 13 · Office expenses

    total $22,261 · program services $16,187 · management and general $3,805 · fundraising $2,269

  • 14 · Information technology

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 15 · Royalties

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $947,143 · program services $696,588 · management and general $231,993 · fundraising $18,562

  • 17 · Travel

    total $53,981 · program services $0 · management and general $6,462 · fundraising $47,519

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $33,061 · program services $0 · management and general $33,061 · fundraising $0

  • 20 · Interest

    total $576,901 · program services $289,348 · management and general $287,553 · fundraising $0

  • 21 · Payments to affiliates

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $801,579 · program services $594,405 · management and general $207,174 · fundraising $0

  • 23 · Insurance

    total $139,732 · program services $87,817 · management and general $51,915 · fundraising $0

  • 24a · Other expenses: Scholarships/Awards/Assistance/Proposal Funding

    total $2,198,702 · program services $2,198,702 · management and general $0 · fundraising $0

  • 24b · Other expenses: Athletic Activities & Facility Renovations

    total $225,835 · program services $225,835 · management and general $0 · fundraising $0

  • 24c · Other expenses: Summer Conferences

    total $637,477 · program services $637,477 · management and general $0 · fundraising $0

  • 24d · Other expenses: Annual Giving/Major Gifts/Fundraising

    total $176,378 · program services $0 · management and general $0 · fundraising $176,378

  • 24e · All other expenses

    total $126,920 · program services $76,457 · management and general $50,463 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $848,525 · end of year $1,312,383

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $632,339 · end of year $1,956,777

  • 4 · Accounts receivable

    beginning of year $2,334,544 · end of year $2,620,419

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $104,501 · end of year $105,192

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

    $32,415,939

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

    $17,204,680

  • 10c · Land, buildings and equipment, net

    beginning of year $15,974,611 · end of year $15,211,259

  • 11 · Investments: publicly traded securities

    beginning of year $54,590,115 · end of year $64,988,062

  • 12 · Investments: other securities

    beginning of year $1,637,904 · end of year $1,547,235

  • 13 · Investments: program-related

    beginning of year $993,567 · end of year $984,564

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $4,880,548 · end of year $5,162,232

  • 17 · Accounts payable and accrued expenses

    beginning of year $489,846 · end of year $708,660

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $1,974,421 · end of year $1,512,901

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $306,559 · end of year $324,026

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $15,784,648 · end of year $15,281,615

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $269,200 · end of year $269,200

  • 27 · Net assets without donor restrictions

    beginning of year $2,368,052 · end of year $3,054,441

  • 28 · Net assets with donor restrictions

    beginning of year $60,803,928 · end of year $72,737,280

Mission and programs · 2022

Mission

The Shippensburg University Foundation secures funds for the benefit of the students and programs of Shippensburg University. The SU Foundation secures annual and capital support for, but not limited to, scholarships, student and faculty research, cultural programming, equipment, facilities and other University priorities. The SU Foundation also manages endowed funds, provides quality off-campus student housing and operates an on-campus child and family center.

  • The Shippensburg University Foundation provides scholarships, awards, low-interest loans, and emergency assistance to over 900 students at Shippensburg University. Without the scholarships & other assistance provided by the SU Foundation, some students could not experience the opportunities and benefits of the quality education for which Shippensburg University is well-known.

    Expenses $1,873,581

  • The Shippensburg University Foundation provides safe, quality and affordable off-campus housing to over 300 students. The SU Foundation's student housing properties are in close proximity to the University. These properties are well maintained and provide 24/7 maintenance, hard-wired fire alarms and sprinkler systems for the safety of the students. The Shippensburg University Foundation also leases various properties to Shippensburg University for use in the regular operation of the University

    Expenses $1,947,708 · Revenue $2,485,837

  • The Shippensburg University Foundation provides support for various academic & cultural programs, joint undergraduate student & faculty research, state of the art scientific equipment & technology, student & faculty conference attendance, professional development, other student services, and alumni programs at Shippensburg University.

    Expenses $973,924 · Revenue $927,577

  • The Shippensburg University Foundation supports Shippensurg University's athletic progam by administering funding for athletic expenses including, but not limited to, travel, recruiting, equipment & supplies, and program marketing.

    Expenses $225,835 · Revenue $168,726

  • The SU Foundation manages the Child & Family Center on the campus of Shippensburg University to meet the needs of the students, faculty and staff. The Center also provides an opportunity for the early childhood education students at Shippensburg University to observe and interact with a high quality, nationally accredited child care program.

    Expenses $415,484 · Revenue $426,949

  • The SU Foundation provides other miscellaneous services in support of the students, faculty & staff at the University

    Expenses $1,388,013 · Revenue $897,234

As filed on the 2022 return.

Listed in Part VII

  • Dr Leslie Folmer Clinton

    Secretary, President & CEO

    Total calculated
    $343,882
    From this org
    $291,123
    From related orgs
    $0
    Other
    $52,759
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $291,123
    Bonus
    $0
    Other
    $0
    Deferred
    $26,761
    Nontaxable benefits
    $27,238
    Filer's total
    $345,122

  • Ms Chrystal K Miracle

    CFO

    Total calculated
    $197,698
    From this org
    $166,166
    From related orgs
    $0
    Other
    $31,532
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $166,166
    Bonus
    $0
    Other
    $0
    Deferred
    $15,436
    Nontaxable benefits
    $16,498
    Filer's total
    $198,100

  • Mrs Lani Longarzo

    Director Major Gifts

    Total calculated
    $148,212
    From this org
    $125,124
    From related orgs
    $0
    Other
    $23,088
    Hours/week
    40

  • Ms Anne Detter

    Director of Marketing

    Total calculated
    $122,236
    From this org
    $101,356
    From related orgs
    $0
    Other
    $20,880
    Hours/week
    40

  • Mrs Rhonda Horst

    Controller

    Total calculated
    $121,293
    From this org
    $102,614
    From related orgs
    $0
    Other
    $18,679
    Hours/week
    40

  • Mr W Mickey Nye

    Director

    Total calculated
    $0
    Hours/week
    1

  • Mr Richard H Pizzarro

    Director

    Total calculated
    $0
    Hours/week
    1

  • Mrs Mary Jo Grove

    Vice Chairperson

    Total calculated
    $0
    Hours/week
    1

  • Mr Jeffrey Lee

    Director

    Total calculated
    $0
    Hours/week
    1

  • Dr Donald F Mayer Jr

    Director

    Total calculated
    $0
    Hours/week
    1

  • Mr Donald F Smith Jr

    Director

    Total calculated
    $0
    Hours/week
    1

  • Mr Lorin L Stough

    Director

    Total calculated
    $0
    Hours/week
    1

  • Mr Duaine A Collier

    Director

    Total calculated
    $0
    Hours/week
    1

  • Mr William E Naugle III

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Mr Joel R Zullinger

    Chairperson

    Total calculated
    $0
    Hours/week
    1

  • Mr John R Raebiger Jr

    Director

    Total calculated
    $0
    Hours/week
    1

  • Dr Dena Stoner

    Director

    Total calculated
    $0
    Hours/week
    1

  • Mrs Brenda M Gabler

    Director

    Total calculated
    $0
    Hours/week
    1

  • Mr Sean Glennon

    Director

    Total calculated
    $0
    Hours/week
    1

  • Mr Charles R Nebel Jr

    Director

    Total calculated
    $0
    Hours/week
    1

  • Mrs Wanda Polk Bankhead

    Director

    Total calculated
    $0
    Hours/week
    1

  • Mrs Angela M Besch

    Director

    Total calculated
    $0
    Hours/week
    1

  • Mrs Carol Verish Houck

    Director

    Total calculated
    $0
    Hours/week
    1

  • Mr David Weisgerber

    Director

    Total calculated
    $0
    Hours/week
    1

  • Mr Lee Gardella

    Director

    Total calculated
    $0
    Hours/week
    1

  • Mr Brian R Carosielli

    Director

    Total calculated
    $0
    Hours/week
    1

  • Mrs Jennifer B Sassani

    Director

    Total calculated
    $0
    Hours/week
    1

  • Mr Bryan P Wright

    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. 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

  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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

No itemized grants to organizations on this return.

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.

  • REC-DC LLC

    Real Estate Development · PA · income $0 · assets $418,040

    Directly controlled by Ship Univ Foundation

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • Raider Capital Ventures LLC

    C · Hotel Services · PA · 100% owned · share of income $3,261,466 · share of assets $11,357,304 · controlled entity

    Directly controlled by Ship Univ Foundation

Provenance

Return type
form_990
Tax year
2022
Filed
13 May 2024
IRS schema version
2022v5.0
Source object
202401349349308500

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