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Nonprofiteer
← VIRGINIA STATE UNIVERSITY FOUNDATION

Form 990 for tax year 2022

Filed by VIRGINIA STATE UNIVERSITY FOUNDATION.

Totals

Total revenue
$5,186,926
Total expenses
$2,734,753
Contributions and grants received
$5,224,088
Grants paid
$969,407
Program service revenue
$0
Investment income
-$37,162
Other revenue
$0
Total assets, end of year
$36,672,974
Total liabilities, end of year
$6,853,352
Net assets or fund balances, end of year
$29,819,622
Program services expenses (Part IX)
$2,255,334
Management and general expenses
$398,681
Fundraising expenses
$80,738
Program service expenses (Part III)
$2,255,334

Program services were 82.5% 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.

  • 1f · All other contributions, gifts and grants

    $5,224,088

  • 3 · Investment income

    total $539,190 · excluded $539,190

  • 7a · Gross sales of assets other than inventory

    securities $8,423,126

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

    securities $8,999,478

  • 7c · Gain or loss

    securities -$576,352

  • 7d · Net gain or loss

    total -$576,352 · excluded -$576,352

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $969,407 · program services $969,407

  • 5 · Compensation of officers, directors and key employees

    total $162,500 · program services $10,000 · management and general $152,500

  • 7 · Other salaries and wages

    total $80,738 · fundraising $80,738

  • 10 · Payroll taxes

    total $8,184 · management and general $8,184

  • 11c · Fees: accounting

    total $63,225 · management and general $63,225

  • 11f · Fees: investment management

    total $119,529 · management and general $119,529

  • 13 · Office expenses

    total $890 · management and general $890

  • 16 · Occupancy

    total $30,000 · management and general $30,000

  • 23 · Insurance

    total $15,375 · management and general $15,375

  • 24a · Other expenses: PROGRAM SUPPORT

    total $927,524 · program services $927,524

  • 24b · Other expenses: ATHLETIC SUPPORT

    total $348,403 · program services $348,403

  • 24c · Other expenses: ADMIN DISCRETIONARY

    total $6,014 · management and general $6,014

  • 24d · Other expenses: BANK FEES

    total $1,891 · management and general $1,891

  • 24e · All other expenses

    total $1,073 · management and general $1,073

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,599,375 · end of year $3,658,273

  • 2 · Savings and temporary cash investments

    beginning of year $1,984,136 · end of year $3,498,739

  • 3 · Pledges and grants receivable

    beginning of year $16,673 · end of year $518,143

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

    $27,000

  • 10c · Land, buildings and equipment, net

    beginning of year $27,000 · end of year $27,000

  • 11 · Investments: publicly traded securities

    beginning of year $24,932,005 · end of year $28,804,313

  • 12 · Investments: other securities

    beginning of year $67,050 · end of year $64,334

  • 15 · Other assets

    beginning of year $305,532 · end of year $102,172

  • 17 · Accounts payable and accrued expenses

    beginning of year $21,529 · end of year $21,904

  • 25 · Other liabilities

    beginning of year $4,226,898 · end of year $6,831,448

  • 27 · Net assets without donor restrictions

    beginning of year $222,438 · end of year $742,687

  • 28 · Net assets with donor restrictions

    beginning of year $24,460,906 · end of year $29,076,935

Listed in Part VII

  • BEVERLY EVERSON-JONES

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • DANTE JACKSON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • CLIFF TAYLOR

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • FRANK JONES

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • MICHAEL RAINEY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • WILBERT J BRIGGS SR

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • BRENDA STITH-FINCH

    CHAIR

    Total calculated
    $0
    Hours/week
    5

  • FRASIER W BRICKHOUSE II

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • IRENE F LOGAN

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • KEVIN DAVENPORT

    VSU VP ADMIN & FINANCE

    Total calculated
    $320,111
    From this org
    $0
    From related orgs
    $229,243
    Other
    $90,868
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $213,243 related
    Bonus
    $0 + $16,000 related
    Other
    $0
    Deferred
    $0 + $34,845 related
    Nontaxable benefits
    $0 + $56,023 related
    Filer's total
    $0 + $320,111 related

  • HAROLD GREEN

    VSU BOARD OF VISITORS

    Total calculated
    $0
    Hours/week
    2

  • VALARIE A JONES

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    5

  • EARNEST A BAZEMORE

    SECRETARY

    Total calculated
    $0
    Hours/week
    5

  • NARDOS E KING

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • CLAUDE A WOOD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • ANGEL CLARKE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • TONYA S HALL

    VSU VP FOR EXTERNAL AFFAIR

    Total calculated
    $229,749
    From this org
    $0
    From related orgs
    $175,525
    Other
    $54,224
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $164,525 related
    Bonus
    $0 + $11,000 related
    Other
    $0
    Deferred
    $0 + $14,665 related
    Nontaxable benefits
    $0 + $39,559 related
    Filer's total
    $0 + $229,749 related

  • KARA C KING BESS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • ROBERT L TURNER JR

    EXECUTIVE DIRECTOR

    Total calculated
    $47,500
    From this org
    $47,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • MAKOLA M ABDULLAH

    EX-OFFICIO

    Total calculated
    $490,525
    From this org
    $0
    From related orgs
    $404,681
    Other
    $85,844
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $387,283 related
    Bonus
    $0 + $17,398 related
    Other
    $0
    Deferred
    $0 + $26,126 related
    Nontaxable benefits
    $0 + $59,718 related
    Filer's total
    $0 + $490,525 related

  • HARRISON BONNER III

    DIRECTOR OF FINANCE & ACCO

    Total calculated
    $50,000
    From this org
    $50,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

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

  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 7
BONUSES AND INCENTIVES OF $17,398 WERE PAID TO MAKOLA ABDULLAH.

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.

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
24 April 2024
IRS schema version
2022v5.0
Source object
202421179349301952

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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