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← LINCOLN UNIVERSITY FOUNDATION OF PENNSYLVANIA

Form 990 for tax year 2022

Filed by LINCOLN UNIVERSITY FOUNDATION OF PENNSYLVANIA.

Totals

Total revenue
$846,118
Total expenses
$2,385,865
Contributions and grants received
$416,213
Grants paid
$2,000,000
Program service revenue
$0
Investment income
$429,905
Other revenue
$0
Total assets, end of year
$18,638,665
Total liabilities, end of year
$4,450,197
Net assets or fund balances, end of year
$14,188,468
Program services expenses (Part IX)
$2,130,230
Management and general expenses
$236,034
Fundraising expenses
$19,601
Program service expenses (Part III)
$2,130,230

Program services were 89.3% 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.

  • 1d · Related organizations

    $416,213

  • 3 · Investment income

    total $429,905 · excluded $429,905

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,000,000 · program services $2,000,000

  • 11c · Fees: accounting

    total $55,124 · management and general $55,124

  • 11f · Fees: investment management

    total $77,574 · management and general $77,574

  • 20 · Interest

    total $103,036 · management and general $103,036

  • 24a · Other expenses: LOCAL PROGRAM ACTIVITIE

    total $130,230 · program services $130,230

  • 24b · Other expenses: BANK AND MERCHANT FEES

    total $19,601 · fundraising $19,601

  • 24c · Other expenses: STATE FEES

    total $300 · management and general $300

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,341,841 · end of year $1,836,123

  • 2 · Savings and temporary cash investments

    beginning of year $38,867 · end of year $76,682

  • 3 · Pledges and grants receivable

    beginning of year $839,122

  • 11 · Investments: publicly traded securities

    beginning of year $17,195,159 · end of year $16,725,860

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,841 · end of year $85,000

  • 18 · Grants payable

    beginning of year $3,468,054

  • 23 · Secured mortgages and notes payable

    end of year $2,653,718

  • 25 · Other liabilities

    beginning of year $0 · end of year $1,711,479

  • 27 · Net assets without donor restrictions

    beginning of year $14,566,298 · end of year $14,188,468

  • 28 · Net assets with donor restrictions

    beginning of year $1,375,796 · end of year $0

Mission and programs · 2022

Mission

SEE SCHEDULE OTHE LINCOLN UNIVERSITY FOUNDATION OF PENNSYLVANIA IS A SEPARATELY INCORPORATED 501(C)(3) ORGANIZED FOR THE PURPOSE OF SERVING AS A SUPPORTING ORGANIZATION AND FOUNDATION TO LINCOLN UNIVERSITY OF THE COMMONWEALTH SYSTEM OF HIGHER EDUCATION. THE FOUNDATION MANAGES AND OVERSEES ALL ASPECTS OF FUNDRAISING FOR THE UNIVERSITY (INCLUDING BUT NOT LIMITED TO ALUMNI GIVING, CAPITAL CAMPAIGNS, PLANNED GIFTS), THE SCHOLARSHIP PROGRAM FOR THE UNIVERSITY STUDENTS (FROM PRIVATE DONORS), GRANTS TO LINCOLN UNIVERSITY FOR VARIOUS EDUCATIONAL PROGRAMS, FUNDRAISING AND DEVELOPMENT OF RESOURCES TO OVERSEE OTHER UNIVERSITY PROGRAMS AND NEEDS AS REQUESTED BY THE UNIVERSITY.

Activities or mission (Part I)

THE FOUNDATION MANAGES AND OVERSEES ALL ASPECTS OF FUNDRAISING FOR THE UNIVERSITY

  • THE FOUNDATION COLLECTS CONTRIBUTIONS AND GIFTS FOR THE BENEFIT OF LINCOLN UNIVERSITY.

    Expenses $2,130,230 · Grants $2,000,000

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Dr Brenda Allen

    PRESIDENT

    Total calculated
    $546,559
    From this org
    $0
    From related orgs
    $436,092
    Other
    $110,467
    Hours/week
    2.5 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $436,092 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $30,500 related
    Nontaxable benefits
    $0 + $79,967 related
    Filer's total
    $0 + $546,559 related

  • Charles Gradowski

    VP FOR FINANCE & ADMINISTRATION

    Total calculated
    $222,764
    From this org
    $0
    From related orgs
    $192,962
    Other
    $29,802
    Hours/week
    2.5 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $192,962 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $19,380 related
    Nontaxable benefits
    $0 + $10,422 related
    Filer's total
    $0 + $222,764 related

  • Dwight Taylor

    CHAIR

    Total calculated
    $0
    Hours/week
    4

  • Pamela Bundy

    TREASURER

    Total calculated
    $0
    Hours/week
    4

  • Donald Notice

    SECRETARY

    Total calculated
    $0
    Hours/week
    4

  • Gerald Bruce

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4 + 0.25 related

  • Ava Willis-Barksdale

    DIRECTOR

    Total calculated
    $256,911
    From this org
    $0
    From related orgs
    $226,268
    Other
    $30,643
    Hours/week
    2.5 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $226,268 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $21,075 related
    Nontaxable benefits
    $0 + $9,568 related
    Filer's total
    $0 + $256,911 related

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

None.

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

The filer's explanations (Part III)

FORM 990, SCHEDULE J, PART I, LINE 3
THE FOUNDATION'S RELATED ORGANIZATION, LINCOLN UNIVERSITY, COMPENSATED CERTAIN OF THE FOUNDATION'S OFFICERS AND TRUSTEES FOR SERVICES PROVIDED TO THE UNIVERSITY. THE UNIVERSITY USES A COMPENSATION COMMITTEE AND INDEPENDENT COMPENSATION CONSULTANT TO REVIEW AND APPROVE THEIR COMPENSATION.

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

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
15 May 2024
IRS schema version
2022v5.0
Source object
202421369349316482

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