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← WEST VIRGINIA SCHOOL OF OSTEOPATHIC MEDICINE FOUNDATION

Form 990 for tax year 2023

Filed by WEST VIRGINIA SCHOOL OF OSTEOPATHIC MEDICINE FOUNDATION.

Totals

Total revenue
$2,514,348
Total expenses
$464,819
Contributions and grants received
$2,206,533
Grants paid
$262,500
Program service revenue
$46,306
Investment income
$261,509
Other revenue
$0
Total assets, end of year
$59,511,895
Total liabilities, end of year
$49,447,157
Net assets or fund balances, end of year
$10,064,738
Program services expenses (Part IX)
$401,926
Management and general expenses
$36,885
Fundraising expenses
$26,008
Program service expenses (Part III)
$401,926

Program services were 86.5% 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

    $2,206,533

  • 2a · Program service revenue: FACILITY RENTAL

    total $46,306 · unrelated business $46,306

  • 3 · Investment income

    total $228,635 · excluded $228,635

  • 7a · Gross sales of assets other than inventory

    securities $2,883,189

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

    securities $2,850,315

  • 7c · Gain or loss

    securities $32,874

  • 7d · Net gain or loss

    total $32,874 · related or exempt $32,874

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $262,500 · program services $262,500

  • 11a · Fees: management

    total $3,112 · program services $3,112

  • 11b · Fees: legal

    total $12,123 · management and general $12,123

  • 11c · Fees: accounting

    total $15,000 · management and general $15,000

  • 12 · Advertising and promotion

    total $25 · fundraising $25

  • 13 · Office expenses

    total $4,038 · program services $1,454 · management and general $1,090 · fundraising $1,494

  • 17 · Travel

    total $2,269 · program services $817 · management and general $613 · fundraising $839

  • 19 · Conferences, conventions and meetings

    total $21,004 · program services $8,402 · fundraising $12,602

  • 22 · Depreciation, depletion and amortization

    total $20,000 · program services $20,000

  • 23 · Insurance

    total $8,187 · program services $2,948 · management and general $2,210 · fundraising $3,029

  • 24a · Other expenses: DIRECT COST OF RENTAL FAC

    total $43,032 · program services $43,032

  • 24b · Other expenses: BAD DEBT EXPENSE

    total $28,035 · program services $28,035

  • 24c · Other expenses: STUDENT & FACULTY SUPPORT

    total $23,888 · program services $23,888

  • 24d · Other expenses: OTHER EXPENSE

    total $21,496 · program services $7,738 · management and general $5,804 · fundraising $7,954

  • 24e · All other expenses

    total $110 · management and general $45 · fundraising $65

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $390,299 · end of year $356,995

  • 3 · Pledges and grants receivable

    beginning of year $238,370 · end of year $191,564

  • 4 · Accounts receivable

    beginning of year $7,824 · end of year $109,159

  • 7 · Other notes and loans receivable

    beginning of year $6,066 · end of year $5,857

  • 9 · Prepaid expenses and deferred charges

    beginning of year $5,239 · end of year $5,230

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

    $100,000

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

    $100,000

  • 10c · Land, buildings and equipment, net

    beginning of year $20,000

  • 11 · Investments: publicly traded securities

    beginning of year $53,430,295 · end of year $58,043,090

  • 15 · Other assets

    beginning of year $450,000 · end of year $800,000

  • 17 · Accounts payable and accrued expenses

    beginning of year $46 · end of year $205

  • 21 · Escrow or custodial account liability

    beginning of year $47,066,981 · end of year $49,446,952

  • 27 · Net assets without donor restrictions

    beginning of year $1,522,441 · end of year $2,453,095

  • 28 · Net assets with donor restrictions

    beginning of year $5,958,625 · end of year $7,611,643

Mission and programs · 2023

Mission

SEE SCHEDULE O FOR A COMPLETE DESCRIPTION OF THE FOUNDATION'S MISSION

Activities or mission (Part I)

TO SERVE THE WV SCHOOL OF OSTEOPATHIC MEDICINE (THE "WVSOM"), ITS FACULTY, STUDENTS AND ALUMNI AS AN ADDITIONAL FUNDING SOURCE THROUGH FUNDRAISING, MANAGING FUNDS, AND OVERSEEING DISTRIBUTION OF THESE FUNDS. IT ACCOMPLISHES THIS BY ENGAGING IN THE FOLLOWING PRINCIPAL ACTIVITIES: 1) SOLICITATION OF RESTRICTED AND UNRESTRICTED CHARITABLE CONTRIBUTIONS, 2) INVESTMENT OF AVAILABLE LIQUID ASSETS, 3) AWARDING TO QUALIFIED STUDENTS, FACULTY OR STAFF OF WVSOM CERTAIN GRANTS OR SCHOLARSHIPS, 4) RENTAL OF A CONFERENCE/EVENT FACILITY LOCATED ON THE CAMPUS OF WVSOM, 5) MAKING BRIDGE FINANCING LOANS FOR STUDENTS IN NEED.

  • PROMOTED AND ADVANCED EDUCATIONAL AND FRATERNAL OPPORTUNITIES FOR CURRENT STUDENTS, FACULTY AND ALUMNI OF WV SCHOOL OF OSTEOPATHIC MEDICINE

    Expenses $397,997 · Grants $262,500

  • PROMOTED AND ADVANCED EDUCATIONAL AND FRATERNAL OPPORTUNITIES FOR CURRENT STUDENTS, FACULTY AND ALUMNI OF WV SCHOOL OF OSTEOPATHIC MEDICINE

    Expenses $3,929

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Donette Mizia

    ADMINISTRATI

    Total calculated
    $92,918
    From this org
    $92,918
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Manuel Ballas Do

    BOARD MEMBER

    Total calculated
    $0

  • Georgette George

    BOARD MEMBER

    Total calculated
    $0

  • Patricia Hamilton

    BOARD MEMBER

    Total calculated
    $0

  • Bradley Harris

    BOARD MEMBER

    Total calculated
    $0

  • Brandon Johnson JD

    BOARD MEMBER

    Total calculated
    $0

  • Drew Kagan

    BOARD MEMBER

    Total calculated
    $0

  • James Nemitz PhD

    BOARD MEMBER

    Total calculated
    $0

  • Kim Tieman

    BOARD MEMBER

    Total calculated
    $0

  • Larry Ware

    BOARD MEMBER

    Total calculated
    $0

  • Sherri Young Do

    VICE PRESIDE

    Total calculated
    $0

  • Dewayne Duncan

    PRESIDENT

    Total calculated
    $0

  • David M Ward

    TREASURER

    Total calculated
    $0

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
21 October 2024
IRS schema version
2023v5.0
Source object
202433309349300638

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