Form 990 for tax year 2023
Filed by ADAMS STATE UNIVERSITY FOUNDATION INC.
Totals
- Total revenue
- $8,066,797
- Total expenses
- $2,754,093
- Contributions and grants received
- $6,797,250
- Grants paid
- $2,051,958
- Program service revenue
- $0
- Investment income
- $1,269,547
- Other revenue
- $0
- Total assets, end of year
- $38,478,754
- Total liabilities, end of year
- $92,418
- Net assets or fund balances, end of year
- $38,386,336
- Program services expenses (Part IX)
- $2,217,401
- Management and general expenses
- $136,077
- Fundraising expenses
- $400,615
- Program service expenses (Part III)
- $2,217,401
Program services were 80.5% 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
$6,797,250
-
3 · Investment income
total $936,615 · excluded $936,615
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6d · Net rental income or loss
total $0
-
7a · Gross sales of assets other than inventory
securities $6,239,151
-
7b · Less cost or other basis and sales expenses
securities $5,906,219
-
7c · Gain or loss
securities $332,932
-
7d · Net gain or loss
total $332,932 · related or exempt $332,932
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $1,931,654 · program services $1,931,654
-
2 · Grants to domestic individuals
total $120,304 · program services $120,304
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $0
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $0
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $0
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $21,925 · management and general $21,925
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $7,560 · management and general $7,560
-
12 · Advertising and promotion
total $0
-
13 · Office expenses
total $0
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $0
-
17 · Travel
total $521 · fundraising $521
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $0
-
23 · Insurance
total $4,979 · management and general $4,979
-
24a · Other expenses: REIMBURSED ADMIN WAGES
total $340,243 · fundraising $340,243
-
24b · Other expenses: GENERAL ADMINISTRATIVE
total $129,512 · program services $45,491 · management and general $48,886 · fundraising $35,135
-
24c · Other expenses: ASU SUPPORT
total $119,952 · program services $119,952
-
24d · Other expenses: Printing and Publications
total $58,576 · management and general $46,062 · fundraising $12,514
-
24e · All other expenses
total $18,867 · management and general $6,665 · fundraising $12,202
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $349,273 · end of year $372,111
-
2 · Savings and temporary cash investments
beginning of year $1,060,938 · end of year $894,322
-
3 · Pledges and grants receivable
beginning of year $14,735 · end of year $0
-
4 · Accounts receivable
end of year $0
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
end of year $0
-
8 · Inventories for sale or use
beginning of year $7,240 · end of year $7,240
-
9 · Prepaid expenses and deferred charges
end of year $0
-
10c · Land, buildings and equipment, net
end of year $0
-
11 · Investments: publicly traded securities
beginning of year $28,523,998 · end of year $37,185,581
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
end of year $0
-
15 · Other assets
beginning of year $19,500 · end of year $19,500
-
17 · Accounts payable and accrued expenses
beginning of year $59,298 · end of year $92,418
-
27 · Net assets without donor restrictions
beginning of year $3,297,639 · end of year $5,318,609
-
28 · Net assets with donor restrictions
beginning of year $26,618,747 · end of year $33,067,727
Mission and programs · 2023
Mission
THE ADAMS STATE UNIVERSITY FOUNDATION EXISTS TO PROMOTE AND FURTHER THE INTERESTS, OBJECTIVES AND PURPOSES OF THE UNIVERSITY; TO SEEK AND RECEIVE GIFTS, LEGACIES AND GRANTS OF MONEY OR PROPERTY AND TO ADMINISTER SUCH FOR THE BENEFIT OF THE UNIVERSITY.
-
SCHOLARSHIPS, GRANTS, AWARDS, AND OTHER ALLOCATIONS FOR THE BENEFIT OF ADAMS STATE UNIVERSITY STUDENTS, FACULTY, AND STAFF. THE FOUNDATION ASSISTED 249 RECIPIENTS TO FUND THEIR EDUCATION. TOTAL DONATED SERVICES IN 2023 WERE $68,500.
Expenses $2,217,401 · Grants $1,931,654
As filed on the 2023 return.
Listed in Part VII
-
Tammy LopezTAMMY LOPEZ
Executive Direc
- Total calculated
- $78,904
- From this org
- $0
- From related orgs
- $54,699
- Other
- $24,205
- Hours/week
- 40
-
Fred BunchFRED BUNCH
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.25
-
Joe MartinezJOE MARTINEZ
Vice President
- Total calculated
- $0
- Hours/week
- 0.25
-
Kim MarvelKIM MARVEL
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.25
-
Keith CernyKEITH CERNY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.25
-
Chuck HouserCHUCK HOUSER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.25
-
Ed CrowtherED CROWTHER
President
- Total calculated
- $0
- Hours/week
- 5
-
BUFFIE McFADYEN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.25
-
William RakowWILLIAM RAKOW
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.25
-
Jennifer ChavezJENNIFER CHAVEZ
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.25
-
Joshua CodyJOSHUA CODY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.25
-
Jesse TorresJESSE TORRES
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.25
-
Richard ScangaRICHARD SCANGA
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.25
-
Ed OrtegaED ORTEGA
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.25
-
Cheryl SchroederCHERYL SCHROEDER
SEC/TREASURER
- Total calculated
- $0
- Hours/week
- 0.25
-
Tyree WaltonTYREE WALTON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.25
-
Ron HowardRON HOWARD
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.25
-
Dorothy LuceroDOROTHY LUCERO
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.25
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
-
ADAMS STATE UNIVERSITY
$1,431,340
SCHOLARSHIP MONEY
-
ADAMS STATE UNIVERSITY
$438,673
ATHLETIC DEVELOPMENT
-
ADAMS STATE UNIVERSITY
$61,641
ACEDEMIC DEPARTMENT PROGRAMS
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.
-
ADAMS STATE UNIVERSITY
509(A)1 · UNIVERSITY · CO
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 21 April 2025
- IRS schema version
- 2023v6.0
- Source object
- 202501119349300225
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.