Appalachian State University Foundation Inc
- Assets
- $159.4m
- Revenue
- $18.4m
- Investments
- $131.6m
- Employees
- 0
- Location
- Boone, NC
- Founding
- 03/1971
- Data as of
- 06/2020
- EIN
- 23-7099379
Organization Overview
Appalachian State University Foundation Inc is located in Boone, NC. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Appalachian State 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 06/2020, Appalachian State University Foundation Inc generated $18.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $17.6m during the year ending 06/2020. While expenses have increased by 3.9% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Appalachian State University Foundation Inc has awarded 36 individual grants totaling $136,718,029. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
THROUGH IMPACTFUL AND ENGAGED STEWARDSHIP, FUNDRAISING, FINANCIAL MANAGEMENT, AND THOUGHTFUL BOARD LEADERSHIP, THE APPALACHIAN STATE UNIVERSITY FOUNDATION WILL PROVIDE SIGNIFICANT RESOURCES IN SUPPORT OF THE UNIVERSITY'S MISSION AND KEY PRIORITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT PROVIDED TO APPALACHIAN STATE UNIVERSITY TO SUPPORT ACADEMIC OPERATING BUDGETS, FACULTY AND STAFF SALARIES/SUPPLEMENTS AND OTHER EVENTS, AND IN-KIND DONATIONS.
SUPPORT PROVIDED TO APPALACHIAN STATE UNIVERSITY FOR SCHOLARSHIPS.
PROGRAM AND SCHOLARSHIP SUPPORT PROVIDED TO APPALACHIAN STATE UNIVERSITY ATHLETICS.
ADDITIONAL SUPPORT TO APPALACHIAN STATE UNIVERSITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeannine Underwood Collins Board Chair | OfficerTrustee | 3 | $0 |
Phillip Ostwalt Board Treasurer | OfficerTrustee | 3 | $0 |
Cantey Alexander Board Vice Chair | OfficerTrustee | 3 | $0 |
James Tolliver Board Secretary | OfficerTrustee | 3 | $0 |
Jane Barghothi President | OfficerTrustee | 1 | $0 |
Clayton Christian Assistant Vice Chancellor | Officer | 30 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Onecbi Llc Workplace Services | 6/29/22 | $168,819 |
Taft & Harding On Park Ave Llc Concessions Services | 6/29/22 | $204,186 |
Ruffalocody Holdings Llc Donor Communications | 6/29/22 | $166,014 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $19,505,040 |
| Investment income | $638,224 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $71,643 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,458,389 |
| Net Income from Fundraising Events | -$17,911 |
| Net Income from Gaming Activities | $18,300 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,404,104 |
| 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. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $354,638 |
| Fees for services: Other | $50,634 |
| Advertising and promotion | $0 |
| Office expenses | $202,006 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $154,176 |
| Travel | $231,439 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $253,970 |
| Interest | $177,768 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $17,579,431 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $498 |
| Savings and temporary cash investments | $4,154,998 |
| Pledges and grants receivable | $21,482,174 |
| Accounts receivable, net | $31,943 |
| 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 | $75,849 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $131,600,275 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $184,225 |
| Total assets | $159,413,962 |
| Accounts payable and accrued expenses | $114,771 |
| Grants payable | $0 |
| Deferred revenue | $3,047,702 |
| 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 | $4,371,103 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,983,409 |
| Total liabilities | $10,516,985 |
| 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 | $148,896,977 |
Grants Awarded
Over the last fiscal year, Appalachian State University Foundation Inc has awarded $19,675,545 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
APPALACHIAN STATE UNIVERSITY PURPOSE: SUPPORT FOR APPALACHIAN STATE UNIVERSITY PROGRAMS AND STUDENTS. | $7,505,667 |
APPALACHIAN STATE UNIVERSITY PURPOSE: SUPPORT FOR APPALACHIAN STATE UNIVERSITY STUDENT ATHLETE SCHOLARSHIPS AND PROGRAMS. | $6,608,687 |
APPALACHIAN STATE UNIVERSITY PURPOSE: SUPPORT FOR APPALACHIAN STATE UNIVERSITY SCHOLARSHIPS. | $4,890,289 |
APPALACHIAN STATE UNIVERSITY PURPOSE: GENERAL SUPPORT | $670,902 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Appalachian State University Foundation Inc has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Anne Cannon Trust Pittsburgh, PA PURPOSE: GENERAL OPERATING | $10,000 |
Endowment Analysis
| Beg. Balance | $139,633,281 |
| Earnings | $4,322,803 |
| Net Contributions | $11,554,131 |
| Other Expense | $86,394 |
| Grants | $5,188,722 |
| Ending Balance | $150,235,099 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Unc Health Foundation Inc Chapel Hill, NC | $571,825,040 | $92,147,897 |
William & Mary Foundation Williamsburg, VA | $1,122,551,962 | $79,373,462 |
Shorter University Inc Rome, GA | $57,209,537 | $39,807,545 |
Kennesaw State University Foundation Inc Kennesaw, GA | $537,455,993 | $85,548,111 |
University Of Virginia Foundation Charlottesville, VA | $508,958,321 | $36,530,024 |
North Carolina State University Foundation Inc Raleigh, NC | $679,121,022 | $52,520,062 |
Clemson University Foundation Clemson, SC | $1,240,950,463 | $112,486,660 |
University Health Services Inc Richmond, VA | $34,736,696 | $16,366,834 |
Georgia State University Foundation Inc Atlanta, GA | $466,073,205 | $89,649,877 |
Medical College Of Virginia Foundation Richmond, VA | $645,911,510 | $54,318,573 |
University Of Memphis Foundation Memphis, TN | $175,396,802 | $38,710,840 |
Virginia Commonwealth University College Of Engineering Foundation Richmond, VA | $131,974,636 | $12,076,889 |