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Nonprofiteer
← SLIPPERY ROCK UNIVERSITY FOUNDATION INC

Form 990 for tax year 2023

Filed by SLIPPERY ROCK UNIVERSITY FOUNDATION INC.

Totals

Total revenue
$12,630,559
Total expenses
$7,333,020
Contributions and grants received
$7,024,143
Grants paid
$3,513,219
Program service revenue
$394,826
Investment income
$4,394,667
Other revenue
$816,923
Total assets, end of year
$55,307,045
Total liabilities, end of year
$551,175
Net assets or fund balances, end of year
$54,755,870
Program services expenses (Part IX)
$6,442,215
Management and general expenses
$801,546
Fundraising expenses
$89,259
Program service expenses (Part III)
$6,442,215

Program services were 87.9% 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.

  • 1c · Fundraising events

    $63,891

  • 1d · Related organizations

    $700,000

  • 1e · Government grants (contributions)

    $185,200

  • 1f · All other contributions, gifts and grants

    $6,075,052

  • 1g · Noncash contributions included above

    $4,081,105

  • 2a · Program service revenue: SALES

    total $159,640 · related or exempt $159,640

  • 2b · Program service revenue: REGISTRATION INCOME

    total $108,083 · related or exempt $108,083

  • 2c · Program service revenue: ROYALTY INCOME

    total $96,338 · related or exempt $96,338

  • 2d · Program service revenue: OTHER INCOME

    total $22,150 · related or exempt $22,150

  • 2e · Program service revenue: NCAA & CONFERENCE REVE

    total $8,615 · related or exempt $8,615

  • 3 · Investment income

    total $1,115,115 · excluded $1,115,115

  • 6a · Gross rents

    real property $67,890

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $67,890

  • 6d · Net rental income or loss

    total $67,890 · related or exempt $67,890

  • 7a · Gross sales of assets other than inventory

    securities $21,137,538

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

    securities $17,374,729 · other assets $483,257

  • 7c · Gain or loss

    securities $3,762,809 · other assets -$483,257

  • 7d · Net gain or loss

    total $3,279,552 · excluded $3,279,552

  • 8a · Fundraising events: gross income

    $293,326

  • 8a · Fundraising events: contributions included on line 1c

    $63,891

  • 8b · Fundraising events: direct expenses

    $95,892

  • 8c · Net income from fundraising events

    total $197,434 · excluded $197,434

  • 11a · Other revenue: SERVICE PURCHASE CONTR

    total $420,000 · excluded $420,000

  • 11b · Other revenue: SPONSORSHIP INCOME

    total $77,699 · excluded $77,699

  • 11c · Other revenue: ADMINISTRATIVE FEE INC

    total $53,900 · excluded $53,900

  • 11e · Other revenue, total

    $551,599

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $3,513,219 · program services $3,513,219

  • 5 · Compensation of officers, directors and key employees

    total $183,084 · management and general $173,930 · fundraising $9,154

  • 7 · Other salaries and wages

    total $208,819 · program services $22,603 · management and general $180,771 · fundraising $5,445

  • 8 · Pension plan contributions

    total $11,433 · program services $1,533 · management and general $9,667 · fundraising $233

  • 9 · Other employee benefits

    total $56,951 · program services $7,635 · management and general $48,156 · fundraising $1,160

  • 10 · Payroll taxes

    total $29,985 · program services $4,020 · management and general $25,354 · fundraising $611

  • 11b · Fees: legal

    total $823 · management and general $823

  • 11c · Fees: accounting

    total $25,200 · management and general $25,200

  • 11f · Fees: investment management

    total $179,497 · management and general $179,497

  • 11g · Fees: other

    total $26,176 · management and general $25,301 · fundraising $875

  • 12 · Advertising and promotion

    total $6,123 · program services $5,523 · fundraising $600

  • 16 · Occupancy

    total $33,357 · program services $33,357

  • 17 · Travel

    total $203,205 · program services $201,827 · fundraising $1,378

  • 22 · Depreciation, depletion and amortization

    total $8,679 · management and general $8,679

  • 23 · Insurance

    total $75,701 · management and general $75,701

  • 24a · Other expenses: SOFTWARE LICENSE (IN-KI

    total $1,431,233 · program services $1,431,233

  • 24b · Other expenses: CONTRACTED SERVICES

    total $615,717 · program services $581,468 · management and general $8,984 · fundraising $25,265

  • 24c · Other expenses: CULTIVATION & STEWARDSH

    total $213,763 · program services $206,682 · fundraising $7,081

  • 24d · Other expenses: OPERATING SUPPLIES

    total $201,520 · program services $201,520

  • 24e · All other expenses

    total $308,535 · program services $231,595 · management and general $39,483 · fundraising $37,457

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    end of year $48,089

  • 2 · Savings and temporary cash investments

    beginning of year $508,718 · end of year $361,738

  • 3 · Pledges and grants receivable

    beginning of year $600,201 · end of year $641,935

  • 4 · Accounts receivable

    beginning of year $104,210 · end of year $7,023

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

    $819,994

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

    $68,179

  • 10c · Land, buildings and equipment, net

    beginning of year $2,918,353 · end of year $751,815

  • 11 · Investments: publicly traded securities

    beginning of year $44,637,942 · end of year $48,778,373

  • 15 · Other assets

    beginning of year $526,219 · end of year $4,718,072

  • 17 · Accounts payable and accrued expenses

    beginning of year $50,518 · end of year $42,965

  • 25 · Other liabilities

    beginning of year $260,659 · end of year $508,210

  • 27 · Net assets without donor restrictions

    beginning of year $8,251,428 · end of year $10,738,506

  • 28 · Net assets with donor restrictions

    beginning of year $40,733,038 · end of year $44,017,364

Mission and programs · 2023

Mission

THE SLIPPERY ROCK UNIVERSITY FOUNDATION, INC. EXISTS TO SUPPORT THE PRIORITY NEEDS OF SLIPPERY ROCK UNIVERSITY BY GENERATING & MANAGING PRIVATE RESOURCES, BOTH FISCAL AND PHYSICAL.

Activities or mission (Part I)

TO SUPPORT THE PRIORITIES OF SRU BY GENERATING AND MANAGING PRIVATE RESOURCES.

  • RAISE & MANAGE FUNDS THAT ARE USED SOLELY FOR SCHOLARSHIPS TO STUDENTS ATTENDING SLIPPERY ROCK UNIVERSITY & AWARD SAID SCHOLARSHIPS.

    Expenses $3,513,219 · Grants $3,513,219

  • RAISE SUPPORT FOR SLIPPERY ROCK UNIVERSITY STUDENTS, FACULTY, PROGRAMMING AND ATHLETIC TEAMS.

    Expenses $2,928,996 · Revenue $462,716

As filed on the 2023 return.

Listed in Part VII

  • Cheryle Campbell

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Craig Fraser

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Daniel Ginsberg

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Donald Fox

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Douglas T McMullen

    BOARD MEMBER (THRU 10/23)

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Eric Wangler

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Erin Daruszka

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Francis J Aloi

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Gail Paserba

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Harry Bertrand

    VICE CHAIR (THRU 10/23)

    Total calculated
    $0
    Hours/week
    3 + 1 related

  • Janet Sargert

    BOARD MEMBER (THRU 10/23)

    Total calculated
    $0
    Hours/week
    1

  • Jennifer L Walters

    SECRETARY

    Total calculated
    $0
    Hours/week
    3 + 1 related

  • Joy Zeiner

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Julie Prebula

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Kenneth Bonus

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Lawrence Kelly

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mark Palmer

    CHAIR

    Total calculated
    $0
    Hours/week
    3 + 1 related

  • Richard A Harper

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Sandra Connolly

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    3 + 1 related

  • Timothy Post

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Joseph Finney

    BOARD MEMBER (AS OF 10/23)

    Total calculated
    $0
    Hours/week
    1

  • Jairus Moore

    BOARD MEMBER (AS OF 10/23)

    Total calculated
    $0
    Hours/week
    1

  • Erica Nelson-Flowers

    BOARD MEMBER (AS OF 10/23)

    Total calculated
    $0
    Hours/week
    1

  • Melissa Richey

    BOARD MEMBER (AS OF 10/23)

    Total calculated
    $0
    Hours/week
    1

  • Terry Shulsky

    BOARD MEMBER (AS OF 10/23)

    Total calculated
    $0
    Hours/week
    1

  • David Hollenbaugh

    EXECUTIVE DIRECTOR

    Total calculated
    $185,402
    From this org
    $172,721
    From related orgs
    $0
    Other
    $12,681
    Hours/week
    35 + 5 related

    Schedule J breakdown matched by us

    Base
    $172,721
    Bonus
    $0
    Other
    $0
    Deferred
    $10,363
    Nontaxable benefits
    $2,318
    Filer's total
    $185,402

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

No itemized grants to organizations 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.

  • SLIPPERY ROCK UNIVERSITY

    HIGHER EDUCATION - PUBLIC UNIVERSITY · PA

    Directly controlled by COMMONWEALTH OF PENNSYLVANIA

  • SRUF CAMPUS HOUSING INC

    501(C)(3) · MANAGING MEMBER FOR SRUF STUDENT HOUSING LLC · PA

  • SRUF STUDENT HOUSING LLC

    PROVIDES HOUSING FOR ENROLLED STUDENTS · PA

    Directly controlled by SRUF CAMPUS HOUSING INC (MANAGING MEMBER)

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • SRUF HOLDINGS LLC

    INVESTMENTS IN REAL ESTATE · PA · income $1,891,402 · assets $4,651,972

    Directly controlled by SLIPPERY ROCK UNIVERSITY FOUNDATION INC

Provenance

Return type
form_990
Tax year
2023
Filed
15 January 2025
IRS schema version
2023v6.0
Source object
202500319349302020

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