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Nonprofiteer
← MANSFIELD UNIVERSITY FOUNDATION INC

Form 990 for tax year 2023

Filed by MANSFIELD UNIVERSITY FOUNDATION INC.

Totals

Total revenue
$1,264,840
Total expenses
$984,718
Contributions and grants received
$217,251
Grants paid
$309,811
Program service revenue
$670
Investment income
$996,752
Other revenue
$50,167
Total assets, end of year
$25,402,549
Total liabilities, end of year
$214,904
Net assets or fund balances, end of year
$25,187,645
Program services expenses (Part IX)
$491,706
Management and general expenses
$397,594
Fundraising expenses
$95,418
Program service expenses (Part III)
$491,706

Program services were 49.9% 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

    $217,251

  • 2a · Program service revenue: TUITION, FEES, REIMBURS

    total $670 · related or exempt $670

  • 3 · Investment income

    total $28,942 · excluded $28,942

  • 7a · Gross sales of assets other than inventory

    securities $2,204,811

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

    securities $1,237,001

  • 7c · Gain or loss

    securities $967,810

  • 7d · Net gain or loss

    total $967,810 · excluded $967,810

  • 11a · Other revenue: NET APPRECIATION OF TRUSTS

    total $72,599 · excluded $72,599

  • 11b · Other revenue: ACTUARIAL GAIN/(LOSS) ON GIFT ANN

    total -$22,432 · excluded -$22,432

  • 11e · Other revenue, total

    $50,167

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $309,811 · program services $309,811

  • 5 · Compensation of officers, directors and key employees

    total $119,169 · program services $39,723 · management and general $39,723 · fundraising $39,723

  • 7 · Other salaries and wages

    total $76,120 · program services $38,121 · management and general $8,255 · fundraising $29,744

  • 9 · Other employee benefits

    total $16,659 · program services $7,739 · management and general $921 · fundraising $7,999

  • 10 · Payroll taxes

    total $13,307 · program services $5,410 · management and general $3,127 · fundraising $4,770

  • 11b · Fees: legal

    total $17,728 · management and general $17,728

  • 11c · Fees: accounting

    total $30,991 · management and general $30,991

  • 11f · Fees: investment management

    total $12,641 · management and general $12,641

  • 11g · Fees: other

    total $83,236 · program services $453 · management and general $82,783

  • 13 · Office expenses

    total $37,214 · program services $13,256 · management and general $20,492 · fundraising $3,466

  • 16 · Occupancy

    total $5,862 · program services $1,954 · management and general $1,954 · fundraising $1,954

  • 17 · Travel

    total $9,861 · program services $7,905 · management and general $1,618 · fundraising $338

  • 22 · Depreciation, depletion and amortization

    total $43,567 · management and general $43,567

  • 23 · Insurance

    total $8,452 · management and general $8,452

  • 24a · Other expenses: SOFTWARD LICENSES

    total $97,958 · program services $20,784 · management and general $71,628 · fundraising $5,546

  • 24b · Other expenses: SMALL EQUIPMENT

    total $27,283 · program services $7,434 · management and general $19,849

  • 24c · Other expenses: OTHER EXPENSES

    total $25,318 · program services $4,028 · management and general $21,290

  • 24d · Other expenses: CAPITAL AND OTHER PURCH

    total $17,218 · program services $17,218

  • 24e · All other expenses

    total $32,323 · program services $17,870 · management and general $12,575 · fundraising $1,878

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $252,993 · end of year $237,704

  • 9 · Prepaid expenses and deferred charges

    beginning of year $38,133 · end of year $49,505

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

    $1,135,495

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

    $126,439

  • 10c · Land, buildings and equipment, net

    beginning of year $1,052,096 · end of year $1,009,056

  • 11 · Investments: publicly traded securities

    beginning of year $19,047,277 · end of year $20,833,101

  • 12 · Investments: other securities

    beginning of year $1,562,740 · end of year $1,954,931

  • 15 · Other assets

    beginning of year $1,296,180 · end of year $1,318,252

  • 17 · Accounts payable and accrued expenses

    beginning of year $100,973 · end of year $20,270

  • 25 · Other liabilities

    beginning of year $197,941 · end of year $194,634

  • 27 · Net assets without donor restrictions

    beginning of year $2,724,583 · end of year $2,460,338

  • 28 · Net assets with donor restrictions

    beginning of year $20,225,922 · end of year $22,727,307

Mission and programs · 2023

Mission

THE MANSFIELD FOUNDATION SECURES AND PRUDENTLY MANAGES FINANCIAL SUPPORT AND DISTRIBUTES RESOURCES IN ACCORDANCE WITH DONOR INTENT TO PROVIDE FUNDING FOR EDUCATIONAL PROGRAMS, SCHOLARSHIPS, AND A BROAD RANGE OF COMMUNITY EFFORTS THROUGHOUT THE NORTHERN TIER OF PENNSYLVANIA.

Activities or mission (Part I)

THE MANSFIELD FOUNDATION SECURES AND PRUDENTLY MANAGES FINANCIAL SUPPORT AND DISTRIBUTES RESOURCES IN ACCORDANCE WITH DONOR INTENT TO PROVIDE FUNDING FOR EDUCATIONAL PROGRAMS, SCHOLARSHIPS AND RESEARCH OPPORTUNITIES IN THE NORTHERN TIER OF PA.

  • GRANT MAKING: GRANTS FROM CHARITABLE FUNDS TO MEET COMMUNITY NEEDS AND IN KEEPING WITH DONORS' INTENT.

    Expenses $8,998

  • SCHOLARSHIPS - GENEROUS DONORS TO THE MANSFIELD FOUNDATION HAVE PROVIDED ENDOWED AND EXPENDABLE FUNDS TO BE USED FOR PROVIDING STUDENT SCHOLARSHIPS AND AWARDS BASED ON DONOR DESIGNATION AND CRITERIA. THE ORGANIZATION AWARDS OVER 350 ANNUAL SCHOLARSHIPS AND AWARDS TO BOTH FRESHMAN AND UPPERCLASSMEN BASED ON NEED AND MERIT. THIS SUPPORT IS INSTRUMENTAL IN THE FOUNDATION'S GOAL OF PROVIDING ACCESS TO A QUALITY EDUCATION AT AN AFFORDABLE COST.

    Expenses $309,811 · Grants $309,811

  • ACADEMIC PROJECTS - FOUNDATION SUPPORTED ACTIVITIES AND PROGRAMS FOR MANSFIELD UNIVERSITY STUDENT PROJECTS, ACADEMIC PROGRAMS, FACULTY SUPPORT, ADVANCEMENT AND DEVELOPMENT, TRAVEL, PUBLIC SERVICE, SPEAKERS, EXTERNAL RELATIONS, ATHLETICS AND OTHER CAMPUS EVENTS AND ACTIVITIES TO CAPITALIZE ON STUDENT AND FACULTY OPPORTUNITIES TO ENSURE THE LONG-TERM SUCCESS OF MANSFIELD UNIVERSITY FOR FUTURE GENERATIONS.

    Expenses $155,679

  • PAYMENTS TO MANSFIELD UNIVERSITY FOR CAPITAL AND OTHER PROJECTS - CAPITAL AND OTHER EXPENDITURES ARE MADE FOR THE PURCHASE OF FURNITURE, EQUIPMENT, CLASSROOM, LAB SUPPLIES AND OTHER COSTS THAT ARE NECESSARY FOR EDUCATIONAL PROGRAMMING AND UNIVERSITY OPERATIONS THAT HELP ENSURE THE CONTINUED ADVANCEMENT AND SUCCESS OF MANSFIELD UNIVERSITY.

    Expenses $17,218

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

Listed in Part VII

  • Arthur Guidi Jr

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Mark Garvelli

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Larry Nesbit

    SECTRETARY

    Total calculated
    $0
    Hours/week
    2

  • Christopher Vaughn

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Lawrence Mansfield

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Ronald Goodwin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Robert Shorb

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Renata Faulisi

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Amy O'Rourke

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Brian Barden

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Mindy Engel

    EXECUTIVE DIRECTOR

    Total calculated
    $118,091
    From this org
    $92,804
    From related orgs
    $0
    Other
    $25,287
    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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
13 May 2025
IRS schema version
2023v6.0
Source object
202521359349302507

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