Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $354,257

• 1f · All other contributions, gifts and grants

  $29,330,670

• 1g · Noncash contributions included above

  $1,778,436

• 2a · Program service revenue: OTHER PROGRAM REVENUE

  total $260,321 · related or exempt $260,321

• 2b · Program service revenue: EVENT ADMISSIONS & MEALS

  total $85,799 · related or exempt $85,799

• 3 · Investment income

  total $1,838,822 · excluded $1,838,822

• 6a · Gross rents

  real property $13,952

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $13,952

• 6d · Net rental income or loss

  total $13,952 · excluded $13,952

• 7a · Gross sales of assets other than inventory

  securities $2,364,547

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

  securities $2,202,803

• 7c · Gain or loss

  securities $161,744

• 7d · Net gain or loss

  total $161,744 · excluded $161,744

• 8a · Fundraising events: gross income

  $118,735

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

  $354,257

• 8b · Fundraising events: direct expenses

  $251,635

• 8c · Net income from fundraising events

  total -$132,900 · excluded -$132,900

• 9a · Gaming: gross income

  $201,385

• 9b · Gaming: direct expenses

  $37,915

• 9c · Net income from gaming

  total $163,470 · excluded $163,470

• 11a · Other revenue: MISCELLANEOUS

  total $35,002 · related or exempt $35,002

• 11e · Other revenue, total

  $35,002

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $26,577,533 · program services $26,577,533

• 11c · Fees: accounting

  total $40,750 · management and general $40,750

• 11f · Fees: investment management

  total $394,028 · management and general $394,028

• 11g · Fees: other

  total $667,888 · program services $24,291 · management and general $37,674 · fundraising $605,923

• 12 · Advertising and promotion

  total $1,216 · program services $60 · fundraising $1,156

• 13 · Office expenses

  total $153,703 · program services $20,285 · management and general $1,000 · fundraising $132,418

• 14 · Information technology

  total $78,027 · program services $6,000 · fundraising $72,027

• 16 · Occupancy

  total $41,598 · program services $2,971 · management and general $7,800 · fundraising $30,827

• 17 · Travel

  total $280,000 · program services $55,326 · management and general $439 · fundraising $224,235

• 19 · Conferences, conventions and meetings

  total $443,850 · program services $90,177 · management and general $223 · fundraising $353,450

• 20 · Interest

  total $136,609 · management and general $136,609

• 22 · Depreciation, depletion and amortization

  total $181,868 · management and general $181,868

• 23 · Insurance

  total $75,929 · management and general $64,236 · fundraising $11,693

• 24a · Other expenses: SUPPLIES

  total $490,685 · program services $204,635 · management and general $1,847 · fundraising $284,203

• 24b · Other expenses: EQUIP RENTAL & MAINTENA

  total $108,244 · program services $41,493 · fundraising $66,751

• 24c · Other expenses: OTHER EXPENSES

  total $22,243 · program services $210 · fundraising $22,033

• 24d · Other expenses: DUES & SUBSCRIPTIONS

  total $11,686 · program services $39 · management and general $1,227 · fundraising $10,420

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $500 · end of year $500

• 2 · Savings and temporary cash investments

  beginning of year $38,420,760 · end of year $41,551,706

• 3 · Pledges and grants receivable

  beginning of year $23,279,215 · end of year $24,006,527

• 4 · Accounts receivable

  beginning of year $108,290 · end of year $83,636

• 9 · Prepaid expenses and deferred charges

  beginning of year $103,154 · end of year $46,596

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

  $2,330,545

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

  $190,539

• 10c · Land, buildings and equipment, net

  beginning of year $2,121,234 · end of year $2,140,006

• 12 · Investments: other securities

  beginning of year $152,021,928 · end of year $172,398,559

• 15 · Other assets

  beginning of year $129,656 · end of year $127,059

• 17 · Accounts payable and accrued expenses

  beginning of year $211,658 · end of year $237,763

• 19 · Deferred revenue

  beginning of year $3,938,100 · end of year $4,297,095

• 23 · Secured mortgages and notes payable

  beginning of year $1,593,530 · end of year $5,350,741

• 25 · Other liabilities

  beginning of year $1,523,078 · end of year $1,584,747

• 27 · Net assets without donor restrictions

  beginning of year $10,561,200 · end of year $12,426,666

• 28 · Net assets with donor restrictions

  beginning of year $198,357,171 · end of year $216,457,577

The filer's explanations (Part III)

PART I, LINE 3

COMPENSATION OF THE PRESIDENT, CFO AND ANY OTHER EMPLOYEE OF APPALACHIAN STATE UNIVERSITY THAT PROVIDES SERVICES TO THE FOUNDATION IS ESTABLISHED THROUGH THE UNIVERSITY'S HUMAN RESOURCES DEPARTMENT IN ACCORDANCE WITH GUIDELINES ESTABLISHED BY THE STATE OF NORTH CAROLINA.

Related corporations and trusts

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

• CHARITABLE REMAINDER TRUSTS (11)

  ASSET INVESTMENT · NC

  Directly controlled by ASU FDN