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Nonprofiteer
← CONCORDIA UNIVERSITY FOUNDATION

Form 990 for tax year 2022

Filed by CONCORDIA UNIVERSITY FOUNDATION.

Totals

Total revenue
$2,753,115
Total expenses
$1,773,808
Contributions and grants received
$1,750,874
Grants paid
$1,674,624
Program service revenue
$0
Investment income
$1,002,241
Other revenue
$0
Total assets, end of year
$28,476,305
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$28,476,305
Program services expenses (Part IX)
$1,674,624
Management and general expenses
$99,184
Fundraising expenses
$0
Program service expenses (Part III)
$1,674,624

Program services were 94.4% 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

    $1,750,874

  • 3 · Investment income

    total $882,294 · excluded $882,294

  • 7a · Gross sales of assets other than inventory

    securities $3,065,675

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

    securities $2,945,728

  • 7c · Gain or loss

    securities $119,947

  • 7d · Net gain or loss

    total $119,947 · excluded $119,947

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,674,624 · program services $1,674,624

  • 11f · Fees: investment management

    total $99,184 · management and general $99,184

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $107,895

  • 11 · Investments: publicly traded securities

    beginning of year $26,460,286 · end of year $28,451,828

  • 15 · Other assets

    beginning of year $0 · end of year $24,477

  • 25 · Other liabilities

    beginning of year $1,163,910 · end of year $0

  • 28 · Net assets with donor restrictions

    beginning of year $25,404,271 · end of year $28,476,305

Mission and programs · 2022

Mission

THE PURPOSE OF CONCORDIA UNIVERSITY FOUNDATION IS TO ASSIST IN THE EDUCATIONAL AND RELIGIOUS ACTIVITIES OF CONCORDIA UNIVERSITY (A.K.A. CONCORDIA UNIVERSITY CHICAGO).

Activities or mission (Part I)

THE PURPOSE OF THE FOUNDATION IS TO ASSIST IN THE ACTIVITIES OF CONCORDIA UNIVERSITY.

  • THIS AMOUNT REPRESENTS THE RELEASE OF FUNDS TO CONCORDIA UNIVERSITY TO PROVIDE FINANCIAL AID TO CONCORDIA UNIVERSITY, IN ACCORDANCE WITH THE STIPULATIONS OF DONORS.

    Expenses $807,569 · Grants $807,569

  • THIS AMOUNT REPRESENTS THE RELEASE OF FUNDS TO CONCORDIA UNIVERSITY TO SUPPORT OPERATIONS AND MAINTENANCE OF PLANT, AS WELL AS OTHER GENERAL INSTITUTIONAL SUPPORT, IN ACCORDANCE WITH THE STIPULATIONS OF DONORS.

    Expenses $732,903 · Grants $732,903

  • THIS AMOUNT REPRESENTS THE RELEASE OF FUNDS TO CONCORDIA UNIVERSITY TO SUPPORT THE OPERATIONS OF ACADEMICS PROGRAMS, STUDENT SERVICES, AND ACADEMIC SUPPORT, IN ACCORDANCE WITH THE STIPULATIONS OF DONORS.

    Expenses $134,152 · Grants $134,152

As filed on the 2022 return.

Listed in Part VII

  • Dr Russell Dawn

    COO

    Total calculated
    $283,147
    From this org
    $0
    From related orgs
    $231,912
    Other
    $51,235
    Hours/week
    2 + 48 related

    Schedule J breakdown matched by us

    Base
    $0 + $231,912 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $23,805 related
    Nontaxable benefits
    $0 + $27,430 related
    Filer's total
    $0 + $283,147 related

  • Lisa Kralina

    TREASURER & CFO (END 1/9/22)

    Total calculated
    $11,547
    From this org
    $0
    From related orgs
    $10,563
    Other
    $984
    Hours/week
    2 + 48 related

  • Jeff Hynes

    PRESIDENT & CEO

    Total calculated
    $223,322
    From this org
    $0
    From related orgs
    $179,933
    Other
    $43,389
    Hours/week
    5 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $179,933 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $15,528 related
    Nontaxable benefits
    $0 + $27,861 related
    Filer's total
    $0 + $223,322 related

  • Randall Barfield

    TREASURER & CFO (START 3/14/22)

    Total calculated
    $162,656
    From this org
    $0
    From related orgs
    $162,656
    Other
    $0
    Hours/week
    2 + 48 related

    Schedule J breakdown matched by us

    Base
    $0 + $162,656 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $162,656 related

  • Susan Rosborough

    CHAIR (END 12/11/23)

    Total calculated
    $0
    Hours/week
    3

  • Karen Jean Doering

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Charles Kraft

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Roger Kruel

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Dr Robert Libka

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • William Stevenson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Joel Zielke

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Andrea Anderson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Audrey Stinson

    BOARD MEMBER (EFF 11/29/22)

    Total calculated
    $0
    Hours/week
    1

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

The filer's explanations (Part III)

PART I, LINE 3
WHILE CONCORDIA UNIVERSITY FOUNDATION DOES NOT DIRECTLY COMPENSATE ANY INDIVIDUALS, THREE OFFICERS ARE EMPLOYEES OF CONCORDIA UNIVERSITY, A RELATED PARTY. AS SUCH, THE COMPENSATION OF THESE INDIVIDUALS FALL UNDER CONCORDIA UNIVERSITY COMPENSATION REVIEW AND APPROVAL PROCESS, WHICH IS AS FOLLOWS: THERE ARE SEVERAL INDIVIDUALS WHO HAVE THEIR SALARIES RENEWED AND APPROVED BY THE FINANCE COMMITTEE OF THE BOARD OF REGENTS. THESE INDIVIDUALS ARE THOSE WHO HAVE THE ABILITY TO AFFECT EMPLOYEES' COMPENSATION, CURRENTLY THE PRESIDENT'S CABINET AND THE DIRECTOR OF HUMAN RESOURCES. ANNUALLY, THE DIRECTOR OF HUMAN RESOURCES PROVIDES THE BOARD WITH THESE INDIVIDUALS' COMPENSATION, AS WELL AS COMPARATIVE DATA FROM SIMILAR UNIVERSITIES. ONCE THE DATA IS REVIEWED, ANNUAL COMPENSATION INCREASES FOR THESE INDIVIDUALS ARE EITHER APPROVED OR REJECTED. THE APPROVAL OR REJECTION IS DOCUMENTED THROUGH A FORMAL BOARD RESOLUTION OF THE CONCORDIA UNIVERSITY BOARD OF REGENTS.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
8 May 2024
IRS schema version
2022v5.0
Source object
202401309349303480

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