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Nonprofiteer
← LOCK HAVEN UNIVERSITY FOUNDATION

Form 990 for tax year 2023

Filed by LOCK HAVEN UNIVERSITY FOUNDATION.

Totals

Total revenue
$4,738,081
Total expenses
$3,083,098
Contributions and grants received
$2,750,537
Grants paid
$1,121,178
Program service revenue
$931,779
Investment income
$964,859
Other revenue
$90,906
Total assets, end of year
$28,073,676
Total liabilities, end of year
$8,931,751
Net assets or fund balances, end of year
$19,141,925
Program services expenses (Part IX)
$1,812,879
Management and general expenses
$610,953
Fundraising expenses
$659,266
Program service expenses (Part III)
$1,812,879

Program services were 58.8% 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

    $810

  • 1f · All other contributions, gifts and grants

    $2,749,727

  • 1g · Noncash contributions included above

    $140,660

  • 2a · Program service revenue: CONTRACTED SERVICES

    total $900,000 · related or exempt $900,000

  • 2b · Program service revenue: OTHER UNIVERSITY PROGRAMS

    total $31,779 · related or exempt $19,013 · unrelated business $12,766

  • 3 · Investment income

    total $621,916 · excluded $621,916

  • 6a · Gross rents

    real property $1,980,881

  • 6b · Less rental expenses

    real property $2,287,211

  • 6c · Rental income or loss

    real property -$306,330

  • 6d · Net rental income or loss

    total -$306,330 · related or exempt -$306,330

  • 7a · Gross sales of assets other than inventory

    securities $4,314,673

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

    securities $3,971,730

  • 7c · Gain or loss

    securities $342,943

  • 7d · Net gain or loss

    total $342,943 · excluded $342,943

  • 8a · Fundraising events: gross income

    $469,088

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

    $810

  • 8b · Fundraising events: direct expenses

    $98,494

  • 8c · Net income from fundraising events

    total $370,594 · excluded $370,594

  • 11a · Other revenue: DUES, COMMISSION AND GUAANTEES

    total $26,642 · related or exempt $26,642

  • 11e · Other revenue, total

    $26,642

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,077,760 · program services $1,077,760

  • 2 · Grants to domestic individuals

    total $43,418 · program services $43,418

  • 5 · Compensation of officers, directors and key employees

    total $140,319 · program services $529 · management and general $65,886 · fundraising $73,904

  • 7 · Other salaries and wages

    total $553,505 · program services $2,911 · management and general $144,181 · fundraising $406,413

  • 9 · Other employee benefits

    total $108,094 · management and general $108,094

  • 10 · Payroll taxes

    total $46,190 · program services $795 · management and general $45,395

  • 11b · Fees: legal

    total $5,735 · program services $1,353 · management and general $4,382

  • 11c · Fees: accounting

    total $43,450 · program services $7,000 · management and general $36,450

  • 11g · Fees: other

    total $161,076 · program services $66,363 · management and general $94,713

  • 12 · Advertising and promotion

    total $9,058 · program services $5,098 · fundraising $3,960

  • 19 · Conferences, conventions and meetings

    total $1,958 · program services $923 · management and general $1,035

  • 22 · Depreciation, depletion and amortization

    total $539 · management and general $539

  • 23 · Insurance

    total $40,084 · program services $21,898 · management and general $18,186

  • 24a · Other expenses: EQUIPMENT AND SUPPLIES

    total $337,220 · program services $292,772 · management and general $10,799 · fundraising $33,649

  • 24b · Other expenses: HOUSING, MEALS, AND TRA

    total $219,815 · program services $186,941 · fundraising $32,874

  • 24c · Other expenses: MISCELLANEOUS

    total $69,896 · program services $19,529 · management and general $5,616 · fundraising $44,751

  • 24d · Other expenses: ATHLETIC EVENTS

    total $63,866 · program services $63,866

  • 24e · All other expenses

    total $161,115 · program services $21,723 · management and general $75,677 · fundraising $63,715

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $99,371 · end of year $916,011

  • 2 · Savings and temporary cash investments

    beginning of year $2,854,552 · end of year $490,220

  • 3 · Pledges and grants receivable

    beginning of year $866,381 · end of year $1,764,489

  • 4 · Accounts receivable

    beginning of year $22,308 · end of year $69,465

  • 7 · Other notes and loans receivable

    beginning of year $37,647 · end of year $37,470

  • 9 · Prepaid expenses and deferred charges

    beginning of year $75,609 · end of year $68,439

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

    $18,953,377

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

    $13,435,558

  • 10c · Land, buildings and equipment, net

    beginning of year $5,974,617 · end of year $5,517,819

  • 11 · Investments: publicly traded securities

    beginning of year $18,718,540 · end of year $18,752,102

  • 15 · Other assets

    beginning of year $360,268 · end of year $457,661

  • 17 · Accounts payable and accrued expenses

    beginning of year $426,930 · end of year $1,093,004

  • 19 · Deferred revenue

    beginning of year $40,329 · end of year $32,911

  • 20 · Tax-exempt bond liabilities

    beginning of year $10,121,615 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $1,301,406 · end of year $7,443,705

  • 24 · Unsecured notes and loans payable

    beginning of year $419,934 · end of year $0

  • 25 · Other liabilities

    beginning of year $339,092 · end of year $362,131

  • 27 · Net assets without donor restrictions

    beginning of year -$6,402,188 · end of year -$7,051,745

  • 28 · Net assets with donor restrictions

    beginning of year $22,762,175 · end of year $26,193,670

Mission and programs · 2023

Mission

TO GENERATE AND MANAGE RESOURCES FOR THE BENEFIT OF COMMONWEALTH UNIVERSITY - LOCK HAVEN AND ITS STUDENTS.

  • SUPPORT OF COMMONWEALTH UNIVERSITY - LOCK HAVEN'S ACADEMIC PROGRAMS BASED ON THE UNIVERSITY CASE FOR SUPPORT WHICH INCLUDES FACILITY UPGRADES, FACULTY ENHANCEMENTS, GLOBAL HONORS PROGRAMS, INTERNATIONAL EDUCATION, SCIENCE EDUCATION AND STUDENT ENHANCEMENTS AND INTERCOLLEGIATE ATHLETICS.

    Expenses $691,701 · Revenue $639,325

  • SUPPORT OF STUDENT SCHOLARSHIPS AND AWARDS BASED ON DONOR DESIGNATION AND CRITERIA. THE ORGANIZATION AWARDS NEARLY 400 ANNUAL SCHOLARSHIPS AND AWARDS TO BOTH FRESHMEN AND UPPERCLASSMEN BASED ON NEED AND MERIT.

    Expenses $1,121,178 · Grants $1,121,178

  • OWN AND OPERATE TWO STUDENT HOUSING PROJECTS (EVERGREEN COMMONS AND THE FOUNDATION VILLAGE AT CLEARFIELD) FOR THE BENEFIT OF LOCK HAVEN OR ITS STUDENTS.

As filed on the 2023 return.

Listed in Part VII

  • Jennifer Riter

    CHAIR

    Total calculated
    $0
    Hours/week
    4

  • Milton Stan Allen

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • James Berkebile

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.5

  • Jeffrey Parker

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Ronald Bowes

    MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • Donald Calcagni

    FINANCE COMMITTEE CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • Francis Condino

    ADVANCEMENT COMMITTEE CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • Ann Delcollo

    MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Joseph Koehler

    GOVERNANCE COMMITTEE CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • Robert Lomison

    MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Peggy McFarland

    MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Ed Shifflett

    MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Polly Spangler

    MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Thane Turner

    MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Edward Wright

    MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Ashley Koser

    EXECUTIVE DIRECTOR

    Total calculated
    $140,319
    From this org
    $100,652
    From related orgs
    $0
    Other
    $39,667
    Hours/week
    37.5

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

  • COMMONWEALTH UNIVERSITY OF PENNSYLVANIA

    $1,004,436

    SCHOLARSHIPS & AID - SUPPORT OF UNIVERSITY PROGRAMS, STUDENT AND FACULTY SCHOLARSHIPS AND AWARDS, FUNDS TO ASSIST WITH CAPITAL IMPROVEMENTS

Provenance

Return type
form_990
Tax year
2023
Filed
2 May 2025
IRS schema version
2023v6.0
Source object
202501269349302170

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