The Bloomsburg University Foundation Inc
- Assets
- $97.6m
- Revenue
- $7.7m
- Investments
- $0.0
- Employees
- 46
- Location
- Bloomsburg, PA
- Founding
- 05/1971
- Data as of
- 06/2021
- EIN
- 23-7088491
Organization Overview
The Bloomsburg University Foundation Inc is located in Bloomsburg, PA. The organization was established in 1971. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2022, Bloomsburg University Foundation Inc employed 46 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bloomsburg University Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Bloomsburg University Foundation Inc generated $7.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.0%) each year. All expenses for the organization totaled $6.1m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Bloomsburg University Foundation Inc has awarded 26 individual grants totaling $16,937,181. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O. THE BLOOMSBURG UNIVERSITY FOUNDATION INSPIRES AND STEWARDS PHILANTHROPY AND OTHER REVENUE GROWTH IN SUPPORT OF BLOOMSBURG UNIVERSITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS - THE BLOOMSBURG UNIVERSITY FOUNDATION (BUF) PROVIDES SCHOLARSHIPS AND AWARDS TO MORE THAN 1000 STUDENTS AT BLOOMSBURG UNIVERSITY (BU). THESE SCHOLARSHIPS PROVIDE RESOURCES TO HELP RECRUIT STUDENTS, REWARD INCOMING FRESHMEN FOR THEIR HARD WORK AND TO RETAIN RETURNING STUDENTS. THIS SUPPORT IS INSTRUMENTAL IN HELPING THE UNIVERSITY REACH ITS GOAL OF PROVIDING A QUALITY EDUCATIONAL EXPERIENCE AT AN AFFORDABLE COST. IT ALLOWS BU TO BE A PREMIER PUBLIC COMPREHENSIVE UNIVERSITY, RECOGNIZED AS A CENTER FOR THINKING, LEARNING AND ACADEMIC EXCELLENCE. IT ALSO HELPS OUR UNIVERSITY TO CONTINUE TO ANTICIPATE AND ADDRESS THE CHANGING NEEDS OF THE COMMONWEALTH AND TO BE A DIVERSE COMMUNITY THAT PRODUCES POSITIVE CHANGE AND ENCOURAGES A CULTURE OF GOOD STEWARDSHIP OF OUR RESOURCES AND THE ENVIRONMENT, DEVELOPING INDIVIDUALS WHO WILL BE CONTRIBUTING CITIZENS.
ACADEMIC PROJECTS - FUNDING PROVIDED BY THE BUF SUPPORTS A NUMBER OF ACADEMIC PROGRAMS THAT ENHANCE THE EDUCATIONAL EXPERIENCE FOR BU STUDENTS. PROJECTS FUNDED BY THE BUF COVER AREAS THAT INCLUDE, BUT ARE NOT LIMITED TO: ACADEMIC PROGRAMS, ADVANCEMENT AND DEVELOPMENT, TRAVEL, PUBLIC SERVICE, EXTERNAL RELATIONS, ARTWORK AND RESEARCH. THESE PROGRAMS SERVE AS THE FOUNDATION OF THE PRINCIPAL RESOURCES FOR BU FACULTY, STAFF AND STUDENTS. THEY SUPPORT THE UNIVERSITY'S EFFORTS TO EXPAND PROFESSIONAL DEVELOPMENT AND EXPERIENTIAL LEARNING OPPORTUNITIES THAT OCCUR BEYOND THE CLASSROOM SETTING AND ARE VITAL IN PREPARING BU STUDENTS TO ENTER A COMPETITIVE WORKFORCE.
ATHLETIC PROJECTS - THE BUF PROVIDES SCHOLARSHIP AND PROGRAM SUPPORT TO APPROXIMATELY 450 STUDENT-ATHLETES OF BLOOMSBURG UNIVERSITY.
ADMINISTRATIVE SUPPORT - THE BUF PROVIDES PROGRAMS TO ALL FACULTY AND STAFF OF BLOOMSBURG UNIVERSITY TO FURTHER DEVELOP THEIR SKILLS.ALUMNI ASSOCIATION - THE BUF PROVIDES ACTIVITIES AND PROGRAM SUPPORT FOR THE 75,000 ALUMNI OF BLOOMSBURG UNIVERSITY.OTHER PROJECTS - THE BUF PROVIDES PROGRAM SUPPORT AND FUNDING FOR FACULTY AND STAFF, FACULTY AND STAFF RECRUITMENT AND RESEARCH, AS WELL AS EMERGING OPPORTUNITIES TO ALLOW THE UNIVERSITY TO RESPOND DECISIVELY AND TO CAPITALIZE ON NEW AREAS OF ACADEMIC PROGRAMMING, STUDENT OPPORTUNITIES AND CAPITAL PROJECTS THAT WILL HELP TO ENSURE THE CONTINUED ADVANCEMENT AND SUCCESS OF BLOOMSBURG UNIVERSITY.LIBRARY PROJECTS - THE BUF PROVIDES SUPPORT TO THE STAFF AND STUDENTS OF THE CAMPUS LIBRARY TO ENSURE MATERIALS ARE AVAILABLE TO STUDENTS FOR THEIR EDUCATIONAL NEEDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jerome Dvorak Executive Director | Officer | 40 | $178,125 |
Michael Gillespie Vice Chair | OfficerTrustee | 1 | $0 |
Nicholas Giuffre Corresponding Secretary | OfficerTrustee | 1 | $0 |
Drew Hostetter Chairman | OfficerTrustee | 1 | $0 |
Craig Diehl Treasurer | OfficerTrustee | 1 | $0 |
Maria Cannon Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,480,577 |
| Investment income | $1,428,296 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $22,283 |
| Net Rental Income | -$635,467 |
| Net Gain/Loss on Asset Sales | $2,272,313 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,727,266 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $214,405 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,350,052 |
| Pension plan accruals and contributions | $102,471 |
| Other employee benefits | $278,953 |
| Payroll taxes | $128,664 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $7,771 |
| Fees for services: Investment Management | $106,440 |
| Fees for services: Other | $253,905 |
| Advertising and promotion | $40,861 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $41,506 |
| Travel | $35,392 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $68,815 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $64,469 |
| Insurance | $29,844 |
| All other expenses | $0 |
| Total functional expenses | $6,093,569 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,154,368 |
| Pledges and grants receivable | $6,792,307 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $274,096 |
| Investments—publicly traded securities | $65,353,199 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,847,648 |
| Total assets | $97,551,907 |
| Accounts payable and accrued expenses | $75,371 |
| Grants payable | $270,009 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $18,119,317 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,393,794 |
| Total liabilities | $19,858,491 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $77,693,416 |
Grants Awarded
Over the last fiscal year, The Bloomsburg University Foundation Inc has awarded $3,730,207 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
BLOOMSBURG UNIVERSITY PURPOSE: SCHOLARSHIPS | $2,852,375 |
BLOOMSBURG UNIVERSITY PURPOSE: ACADEMIC PROJECTS | $695,517 |
BLOOMSBURG UNIVERSITY PURPOSE: ATHLETICS | $119,471 |
BLOOMSBURG UNIVERSITY PURPOSE: OTHER PROJECTS | $62,844 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that The Bloomsburg University Foundation Inc has recieved totaling $1,507,613.
| Awarding Organization | Amount |
|---|---|
Zeigler Family Foundation Schwenksville, PA PURPOSE: ZCOB | $1,505,613 |
Zeigler Family Foundation Schwenksville, PA PURPOSE: 1867 MINUTES OF GIVING | $2,000 |
Endowment Analysis
| Beg. Balance | $64,333,486 |
| Earnings | -$9,301,099 |
| Admin Expense | $933,059 |
| Net Contributions | $4,211,331 |
| Grants | $1,282,529 |
| Ending Balance | $57,028,130 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Youngstown State University Foundation Youngstown, OH | $318,269,128 | $38,933,738 |
University Of Maryland Obstetrical And Gynecological Associates P A Baltimore, MD | $13,649,114 | $19,437,289 |
Kent State University Foundation Kent, OH | $245,939,628 | $27,886,498 |
Unidel Foundation Inc Greenville, DE | $452,249,782 | $36,851,681 |
Hunter College Foundation Inc New York, NY | $144,509,988 | $37,248,838 |
University Of Akron Foundation Akron, OH | $205,506,114 | $14,662,521 |
Educational Foundation Of America Bethesda, MD | $294,733,951 | $32,812,396 |
The American Friends Of Winchester College New York, NY | $259,900 | $15,435,931 |
Friends Of@ascend Charter Schools Inc Brooklyn, NY | $51,013,536 | $16,135,870 |
Rowan University Foundation Inc Glassboro, NJ | $339,808,677 | $39,224,287 |
Equitable Facilities Fund Inc New York, NY | $843,754,758 | $34,535,002 |
School Employees Benefit Trust Cincinnati, OH | $16,584,284 | $19,989,967 |