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← CHEYNEY FOUNDATION

Form 990 for tax year 2023

Filed by CHEYNEY FOUNDATION.

Totals

Total revenue
$437,171
Total expenses
$349,911
Contributions and grants received
$371,394
Grants paid
$143,564
Program service revenue
$0
Investment income
$65,777
Other revenue
$0
Total assets, end of year
$1,493,191
Total liabilities, end of year
$36,549
Net assets or fund balances, end of year
$1,456,642
Program services expenses (Part IX)
$175,043
Management and general expenses
$174,868
Fundraising expenses
$0
Program service expenses (Part III)
$175,043

Program services were 50.0% 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.

  • 1e · Government grants (contributions)

    $371,394

  • 3 · Investment income

    total $65,777 · excluded $65,777

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $132,064 · program services $132,064

  • 2 · Grants to domestic individuals

    total $11,500 · program services $11,500

  • 11c · Fees: accounting

    total $14,701 · program services $11,026 · management and general $3,675

  • 11f · Fees: investment management

    total $11,044 · program services $8,283 · management and general $2,761

  • 11g · Fees: other

    total $3,284 · program services $2,462 · management and general $822

  • 12 · Advertising and promotion

    total $142,814 · management and general $142,814

  • 13 · Office expenses

    total $10,846 · program services $7,477 · management and general $3,369

  • 16 · Occupancy

    total $18,000 · management and general $18,000

  • 17 · Travel

    total $193 · management and general $193

  • 23 · Insurance

    total $943 · management and general $943

  • 24a · Other expenses: DUES & SUBSCRIPTIONS

    total $4,462 · program services $2,231 · management and general $2,231

  • 24b · Other expenses: MEALS

    total $60 · management and general $60

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $308,191 · end of year $301,396

  • 11 · Investments: publicly traded securities

    beginning of year $1,038,793 · end of year $1,191,795

  • 17 · Accounts payable and accrued expenses

    beginning of year $13,555 · end of year $11,084

  • 25 · Other liabilities

    beginning of year $25,465 · end of year $25,465

  • 27 · Net assets without donor restrictions

    beginning of year $185,082 · end of year $57,359

  • 28 · Net assets with donor restrictions

    beginning of year $1,122,882 · end of year $1,399,283

Mission and programs · 2023

Mission

THE MISSION OF THE CHEYNEY FOUNDATION IS TO RAISE FUNDS, PROMOTE AND SUPPORT ACADEMIC EXCELLENCE, INNOVATION AND SUSTAINABILITY OF CHEYNEY UNIVERSITY.

Activities or mission (Part I)

SINCE 1971, THE FOUNDATION HAS GIVEN OVER 2.5 M TO CHEYNEY UNIVERSITY, WHICH HAS BEEN USED TO SUPPORT MANY DIFFERENT UNIVERSITY PROGRAMS, PRIMARILY IN THE FORM OF SCHOLARSHIPS FOR STUDENTS.

  • GRANTING SCHOLARSHIPS AND PROVIDING NEED-BASED FINANCIAL SUPPORT TO THE STUDENTS OF CHEYNEY UNIVERSITY THAT UPHOLD A HIGH LEVEL OF ACADEMIC ACHIEVEMENT.

    Expenses $11,500 · Grants $11,500

  • PROGRAM DISBURSEMENTS TO CHEYNEY UNIVERSITY FOR OPERATING EXPENSES AND PROGRAMMATIC PURPOSES.

    Expenses $163,543 · Grants $132,064

As filed on the 2023 return.

Listed in Part VII

  • Larry Walker

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    5

  • Tiffany Wilson

    VICE CHAIRMA

    Total calculated
    $0
    Hours/week
    5

  • Bryan Phillips

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Jazmine Smith

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

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

  • CHEYNEY UNIVERSITY

    $132,064

    PROGRAM DISBURSEMENT

Provenance

Return type
form_990
Tax year
2023
Filed
24 February 2025
IRS schema version
2023v6.0
Source object
202500629349301930

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