Form 990 for tax year 2023
Filed by WESTERN CONNECTICUT STATE UNIVERSITY FOUNDATION INC.
Totals
- Total revenue
- $2,875,886
- Total expenses
- $1,785,114
- Contributions and grants received
- $2,278,836
- Grants paid
- $1,276,888
- Program service revenue
- $0
- Investment income
- $588,705
- Other revenue
- $8,345
- Total assets, end of year
- $32,747,638
- Total liabilities, end of year
- $54,503
- Net assets or fund balances, end of year
- $32,693,135
- Program services expenses (Part IX)
- $1,277,238
- Management and general expenses
- $358,623
- Fundraising expenses
- $149,253
- Program service expenses (Part III)
- $1,277,238
Program services were 71.5% 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.
-
1c · Fundraising events
$22,105
-
1f · All other contributions, gifts and grants
$2,256,731
-
1g · Noncash contributions included above
$16,271
-
3 · Investment income
total $807,025 · excluded $807,025
-
7a · Gross sales of assets other than inventory
securities $6,938,124
-
7b · Less cost or other basis and sales expenses
securities $7,156,444
-
7c · Gain or loss
securities -$218,320
-
7d · Net gain or loss
total -$218,320 · excluded -$218,320
-
8a · Fundraising events: gross income
$8,710
-
8a · Fundraising events: contributions included on line 1c
$22,105
-
8b · Fundraising events: direct expenses
$365
-
8c · Net income from fundraising events
total $8,345 · excluded $8,345
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $345,689 · program services $345,689
-
2 · Grants to domestic individuals
total $931,199 · program services $931,199
-
11c · Fees: accounting
total $27,122 · management and general $27,122
-
11f · Fees: investment management
total $59,859 · management and general $59,859
-
11g · Fees: other
total $110,000 · fundraising $110,000
-
13 · Office expenses
total $1,193 · management and general $1,042 · fundraising $151
-
14 · Information technology
total $86,361 · management and general $86,361
-
17 · Travel
total $350 · program services $350
-
21 · Payments to affiliates
total $166,776 · management and general $166,776
-
23 · Insurance
total $4,908 · management and general $4,908
-
24a · Other expenses: RECEPTIONS, PROMOTIONS
total $39,102 · fundraising $39,102
-
24b · Other expenses: BANK AND CREDIT CARD FE
total $10,723 · management and general $10,723
-
24c · Other expenses: BAD DEBT EXPENSE
total $1,832 · management and general $1,832
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $4,160,249 · end of year $4,398,157
-
3 · Pledges and grants receivable
beginning of year $89,419 · end of year $380,483
-
9 · Prepaid expenses and deferred charges
beginning of year $72,670 · end of year $77,546
-
10a · Land, buildings and equipment: cost or other basis
$199,545
-
10b · Land, buildings and equipment: accumulated depreciation
$199,545
-
10c · Land, buildings and equipment, net
beginning of year $0 · end of year $0
-
11 · Investments: publicly traded securities
beginning of year $24,764,908 · end of year $27,891,452
-
17 · Accounts payable and accrued expenses
beginning of year $71,569 · end of year $54,503
-
27 · Net assets without donor restrictions
beginning of year $2,277,005 · end of year $2,432,599
-
28 · Net assets with donor restrictions
beginning of year $26,738,672 · end of year $30,260,536
Mission and programs · 2023
Mission
THE WCSU FOUNDATION, INC. OPERATES EXCLUSIVELY TO SOLICIT ALL FORMS OF DONATIONS AND DISBURSES SUCH FUNDS TO AID, SUPPLEMENT, IMPROVE AND ENLARGE THE EDUCATIONAL, CULTURAL AND RESEARCH FACILITIES AND ACTIVITIES OF WESTERN CONNECTICUT STATE UNIVERSITY.
Activities or mission (Part I)
OPERATES EXCLUSIVELY TO AID, SUPPLEMENT, IMPROVE AND ENLARGE THE EDUCATIONAL, CULTURAL AND RESEARCH FACILITIES AND ACTIVITIES OF WESTERN CONNECTICUT STATE UNIVERSITY.
-
PROVIDED SUPPORT TO THE WESTERN CONNECTICUT STATE UNIVERSITY.
Expenses $1,277,238 · Grants $1,276,887
As filed on the 2023 return.
Listed in Part VII
-
Martin MorgadoMARTIN MORGADO
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1
-
Robert YaminROBERT YAMIN
VICE CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1
-
Anthony Cirone JrANTHONY CIRONE JR
SECRETARY/TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Gregg CrerarGREGG CRERAR
DIRECTOR
- Total calculated
- $59,871
- From this org
- $0
- From related orgs
- $59,871
- Other
- $0
- Hours/week
- 1 + 40 related
-
John FillyawJOHN FILLYAW
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Sorreea GagnebinSORREEA GAGNEBIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Anthony GiobbiANTHONY GIOBBI
CHAIR OF FINANCE
- Total calculated
- $0
- Hours/week
- 1
-
Stephen HegedusSTEPHEN HEGEDUS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 40 related
-
Jason HsuJASON HSU
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
M Farooq KathwariM FAROOQ KATHWARI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Kathleen KuberkaKATHLEEN KUBERKA
CO-CHAIR OF GOVERNANCE
- Total calculated
- $0
- Hours/week
- 1
-
Lynne LebarronLYNNE LEBARRON
DIRECTOR
- Total calculated
- $304,943
- From this org
- $0
- From related orgs
- $304,943
- Other
- $0
- Hours/week
- 1 + 35 related
Schedule J breakdown matched by us
- Base
- $0 + $160,277 related
- Bonus
- $0
- Other
- $0 + $144,666 related
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $0 + $304,943 related
-
Raymond LubusRAYMOND LUBUS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Nelson MerchanNELSON MERCHAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Chin OkwukaCHIN OKWUKA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mary Jean Rizzo-RebeiroMARY JEAN RIZZO-REBEIRO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Thamer RushaidatTHAMER RUSHAIDAT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Manohar SinghMANOHAR SINGH
DIRECTOR
- Total calculated
- $159,173
- From this org
- $0
- From related orgs
- $159,173
- Other
- $0
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $124,171 related
- Bonus
- $0
- Other
- $0 + $35,002 related
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $0 + $159,173 related
-
Dane UngerDANE UNGER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Maria VeilleuxMARIA VEILLEUX
DIRECTOR
- Total calculated
- $141,009
- From this org
- $0
- From related orgs
- $141,009
- Other
- $0
- Hours/week
- 1 + 35 related
-
Mitch WagenerMITCH WAGENER
DIRECTOR
- Total calculated
- $190,451
- From this org
- $0
- From related orgs
- $190,451
- Other
- $0
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $136,546 related
- Bonus
- $0
- Other
- $0 + $53,905 related
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $0 + $190,451 related
-
Faye WaltonFAYE WALTON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Beatrice FevryBEATRICE FEVRY
FORMER DIRECTOR
- Total calculated
- $267,898
- From this org
- $0
- From related orgs
- $267,898
- Other
- $0
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $212,327 related
- Bonus
- $0
- Other
- $0 + $55,571 related
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $0 + $267,898 related
-
Paul BeranPAUL BERAN
FORMER DIRECTOR
- Total calculated
- $304,229
- From this org
- $0
- From related orgs
- $304,229
- Other
- $0
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $216,184 related
- Bonus
- $0
- Other
- $0 + $88,045 related
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $0 + $304,229 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
- 3 · Approval by the board or compensation committee
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
-
WESTERN CONNECTICUT STATE UNIVERSITY
$345,689
TO SUPPORT NUMEROUS ACTIVITIES FOR THE BENEFIT OF WESTERN CONNECTICUT STATE UNIVERSITY.
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.
-
WESTERN CONNECTICUT STATE UNIVERSITY
501(C)(3) · EDUCATION - UNIVERSITY · CT
-
WESTERN CONNECTICUT STATE ALUMNI
501(C)(3) · SUPPORT UNIVERSITY · CT
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 3 September 2024
- IRS schema version
- 2023v5.1
- Source object
- 202412539349300721
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