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Nonprofiteer
← CAPSTONE FOUNDATION

Form 990 for tax year 2023

Filed by CAPSTONE FOUNDATION.

Totals

Total revenue
$6,599,512
Total expenses
$5,680,727
Contributions and grants received
$4,015,648
Grants paid
$2,488,839
Program service revenue
$0
Investment income
$1,834,296
Other revenue
$749,568
Total assets, end of year
$36,605,887
Total liabilities, end of year
$14,636,436
Net assets or fund balances, end of year
$21,969,451
Program services expenses (Part IX)
$5,564,578
Management and general expenses
$116,149
Fundraising expenses
$0
Program service expenses (Part III)
$5,564,578

Program services were 98.0% 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

    $4,015,648

  • 1g · Noncash contributions included above

    $56,708

  • 3 · Investment income

    total $597,755 · excluded $597,755

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7a · Gross sales of assets other than inventory

    other assets $1,519,367

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

    other assets $282,826

  • 7c · Gain or loss

    other assets $1,236,541

  • 7d · Net gain or loss

    total $1,236,541 · excluded $1,236,541

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: CAPSTONE HOTEL K-1

    total $32,567 · related or exempt $0 · unrelated business $32,567 · excluded $0

  • 11b · Other revenue: OTHER INCOME

    total $717,001 · related or exempt $717,001 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $749,568

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,059,297 · program services $2,059,297

  • 2 · Grants to domestic individuals

    total $429,542 · program services $429,542

  • 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 $57,120 · program services $0 · management and general $57,120 · fundraising $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $54,649 · program services $0 · management and general $54,649 · fundraising $0

  • 11g · Fees: other

    total $88,227 · program services $88,227 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $46,368 · program services $46,368 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $237,477 · program services $237,477 · management and general $0 · fundraising $0

  • 14 · Information technology

    total $12,705 · program services $12,705 · management and general $0 · fundraising $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $20,456 · program services $20,456 · management and general $0 · fundraising $0

  • 17 · Travel

    total $201,050 · program services $201,050 · management and general $0 · fundraising $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $1,389,349 · program services $1,389,349 · management and general $0 · fundraising $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $2,400 · program services $0 · management and general $2,400 · fundraising $0

  • 23 · Insurance

    total $0

  • 24a · Other expenses: BUSINESS ENTERTAINMENT

    total $905,403 · program services $905,403 · management and general $0 · fundraising $0

  • 24b · Other expenses: DUES & SUBSCRIPTIONS

    total $96,818 · program services $96,818 · management and general $0 · fundraising $0

  • 24c · Other expenses: FURNITURE AND FIXTURES

    total $9,215 · program services $9,215 · management and general $0 · fundraising $0

  • 24d · Other expenses: UBI TAX PAYMENTS

    total $1,000 · program services $1,000 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $69,651 · program services $67,671 · management and general $1,980

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $323,226 · end of year $241,825

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $159,559 · end of year $173,449

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $144,567 · end of year $160,484

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $196,940 · end of year $195,974

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $106,311 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $29,981,800 · end of year $35,773,363

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $180,750 · end of year $60,792

  • 17 · Accounts payable and accrued expenses

    beginning of year $211,285 · end of year $110,935

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $13,226,038 · end of year $14,525,501

  • 27 · Net assets without donor restrictions

    beginning of year $2,341,817 · end of year $2,654,511

  • 28 · Net assets with donor restrictions

    beginning of year $15,314,013 · end of year $19,314,940

Mission and programs · 2023

Mission

TO PROVIDE SUPPORT TO AND ASSIST THE UNIVERSITY OF ALABAMA IN FULFILLING ITS MISSION OF TEACHING, RESEARCH AND SERVICE.

  • GIFTS TO THE UNIVERSITY OF ALABAMA FOR PURPOSES OF ACADEMIC AND STUDENT SERVICES SUPPORT.

    Expenses $1,959,296 · Grants $1,959,296

  • SUPPORT CONFERENCES, MEETINGS, AND BUSINESS ENTERTAINMENT AND OTHER PROFESSIONAL ENDEAVOURS FOR THE UNIVERSITY OF ALABAMA, TO ASSIST IN ITS RECRUITING AND DEVELOPMENT EFFORTS.

    Expenses $3,074,739 · Revenue $717,001

  • SCHOLARSHIPS GRANTED TO STUDENTS AT THE UNIVERSITY OF ALABAMA TO SUPPORT THEIR EDUCATIONAL ENDEAVORS.

    Expenses $429,542 · Grants $429,542

  • GIFTS TO UNIVERSITY FOUNDATION

    Expenses $90,738 · Grants $90,738

  • AGENCY GRANTS

    Expenses $9,263 · Grants $9,263

  • UBI tax payments

    Expenses $1,000

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

Listed in Part VII

  • Stuart R Bell

    CHAIRMAN

    Total calculated
    $1,127,782
    From this org
    $0
    From related orgs
    $887,063
    Other
    $240,719
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $880,344 related
    Bonus
    $0
    Other
    $0 + $6,719 related
    Deferred
    $0 + $145,514 related
    Nontaxable benefits
    $0 + $95,205 related
    Filer's total
    $0 + $1,127,782 related

  • Dana Keith

    DIRECTOR

    Total calculated
    $600,021
    From this org
    $0
    From related orgs
    $531,255
    Other
    $68,766
    Hours/week
    0.5 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $513,337 related
    Bonus
    $0
    Other
    $0 + $17,918 related
    Deferred
    $0 + $56,179 related
    Nontaxable benefits
    $0 + $12,587 related
    Filer's total
    $0 + $600,021 related

  • Matthew Fajack

    DIRECTOR (UNTIL 01/2024)

    Total calculated
    $536,592
    From this org
    $0
    From related orgs
    $466,884
    Other
    $69,708
    Hours/week
    0.5 + 39.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $457,943 related
    Bonus
    $0
    Other
    $0 + $8,941 related
    Deferred
    $0 + $53,331 related
    Nontaxable benefits
    $0 + $16,377 related
    Filer's total
    $0 + $536,592 related

  • Robert D Pierce II

    DIRECTOR

    Total calculated
    $481,089
    From this org
    $0
    From related orgs
    $406,116
    Other
    $74,973
    Hours/week
    0.5 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $403,702 related
    Bonus
    $0
    Other
    $0 + $2,414 related
    Deferred
    $0 + $51,996 related
    Nontaxable benefits
    $0 + $22,977 related
    Filer's total
    $0 + $481,089 related

  • Cheryl Mowdy

    INTERIM DIRECTOR (1/24-9/24)

    Total calculated
    $263,508
    From this org
    $0
    From related orgs
    $215,866
    Other
    $47,642
    Hours/week
    0.5 + 41.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $214,625 related
    Bonus
    $0
    Other
    $0 + $1,241 related
    Deferred
    $0 + $36,228 related
    Nontaxable benefits
    $0 + $11,414 related
    Filer's total
    $0 + $263,508 related

  • Andre Taylor

    DIRECTOR

    Total calculated
    $24,160
    From this org
    $0
    From related orgs
    $21,121
    Other
    $3,039
    Hours/week
    0.5 + 39.5 related

  • Baker Crow

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Karen Campbell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Karen Brooks

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Jimmy Warren

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Dan Layzell

    DIRECTOR (BEG 09/2024)

    Total calculated
    $0
    Hours/week
    0.5 + 39.5 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

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.

  • SEE PART VII

    Directly controlled by NA

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

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

  • SEE PART VII

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2023
Filed
14 August 2025
IRS schema version
2023v6.0
Source object
202502269349302615

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