Elizabeth City State University Foundation
- Assets
- $21.1m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Elizabeth City, NC
- Founding
- 06/1971
- Data as of
- 06/2021
- EIN
- 23-7115345
Organization Overview
Elizabeth City State University Foundation is located in Elizabeth City, 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. Elizabeth City State University Foundation 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, Elizabeth City State University Foundation generated $2.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.6% each year. All expenses for the organization totaled $9.4m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Elizabeth City State University Foundation has awarded 12 individual grants totaling $21,041,013. 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
THE ECSU FOUNDATION MISSION IS TO SERVE AS THE STEWARD OF PRIVATE CONTRIBUTIONS TO ELIZABETH CITY STATE UNIVERSITY IN ORDER TO PROVIDE EDUCATIONAL ASSISTANCE FOR STUDENTS, TO SUPPORT FACULTY, AND TO SECURE THE OPERATIONAL NEEDS OF THE UNIVERSITY. THE FOUNDATION RECEIVES, INVESTS, AND ADMINISTERS FUNDS RECEIVED, AS A RESULT OF CHARITABLE CONTRIBUTIONS FROM THE PRIVATE SECTOR, ON BEHALF OF THE STUDENTS AND PROGRAMS AT ECSU AND, AS A RESULT, FOR THE GREATER GOOD OF THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED FUNDING TO UNIVERSITY FOR DORMITORY RENOVATIONS.
THE ECSU FOUNDATION PROVIDED SCHOLARSHIPS TO STUDENTS AT ELIZABETH CITY STATE UNIVERSITY.
PROVIDED HOUSING FOR STUDENTS OF ELIZABETH CITY STATE UNIVERSITY THROUGH VIKINGS VILLAGE APARTMENTS.
PROVIDED FUNDING TO UNIVERSITY FOR DORMITORY RENOVATIONS.
THE ECSU FOUNDATION PROVIDED SCHOLARSHIPS TO STUDENTS AT ELIZABETH CITY STATE UNIVERSITY.
PROVIDED HOUSING FOR STUDENTS OF ELIZABETH CITY STATE UNIVERSITY THROUGH VIKINGS VILLAGE APARTMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randy B Bell Treasurer | OfficerTrustee | 2 | $0 |
Lenora Jarvis-Mackey Vice Chair | OfficerTrustee | 4 | $0 |
Dr Peter M Eley Chair | OfficerTrustee | 4 | $0 |
Dr Patricia J Gibbs Secretary | OfficerTrustee | 2 | $0 |
Anita Walton Executive Director | Officer | 4 | $0 |
L Chantel Cherry-Lassiter Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,254,956 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,254,956 |
| Total Program Service Revenue | $917,827 |
| Investment income | $126,503 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $374,594 |
| Net Income from Fundraising Events | $106,992 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,780,872 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $8,357,873 |
| 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 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 | $24,050 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $21,779 |
| Fees for services: Other | $180,884 |
| Advertising and promotion | $10,318 |
| Office expenses | $51,183 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,623 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $255,381 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $212,989 |
| Insurance | $7,135 |
| All other expenses | $6,355 |
| Total functional expenses | $9,435,171 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,496,891 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $1,666 |
| Net Land, buildings, and equipment | $7,249,524 |
| Investments—publicly traded securities | $7,218,022 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $86,611 |
| Total assets | $21,052,714 |
| Accounts payable and accrued expenses | $62,465 |
| Grants payable | $0 |
| 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 | $19,750,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $19,812,465 |
| Net assets without donor restrictions | -$2,475,394 |
| Net assets with donor restrictions | $3,715,643 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $21,052,714 |
Grants Awarded
Over the last fiscal year, Elizabeth City State University Foundation has awarded $16,715,746 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
ELIZABETH CITY STATE UNIVERSITY PURPOSE: DORMITORY RENOVATIONS | $8,011,666 |
ELIZABETH CITY STATE UNIVERSITY PURPOSE: DORMITORY RENOVATIONS | $8,011,666 |
ELIZABETH CITY STATE UNIVERSITY PURPOSE: SCHOLARSHIPS TO ECSU STUDENTS | $346,207 |
ELIZABETH CITY STATE UNIVERSITY PURPOSE: SCHOLARSHIPS TO ECSU STUDENTS | $346,207 |
Grants Recieved
Over the last fiscal year, we have identified 25 grants that Elizabeth City State University Foundation has recieved totaling $410,367.
| Awarding Organization | Amount |
|---|---|
North Carolina Community Foundation Inc Raleigh, NC PURPOSE: HEALTH | $138,000 |
Lumina Foundation For Education Inc Indianapolis, IN PURPOSE: TO BUILD HBCU INSTITUTIONAL CAPACITY TO SERVE BLACK ADULT LEARNERS. | $100,000 |
Lumina Foundation For Education Inc Indianapolis, IN PURPOSE: TO BUILD HBCU INSTITUTIONAL CAPACITY TO SERVE BLACK ADULT LEARNERS. | $75,000 |
Z Smith Reynolds Foundation Inc Winstonsalem, NC PURPOSE: "VIKING RACE" (REALIZED AWARENESS CHANGES EVERYTHING) PROJECT | $50,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $16,635 |
Elizabeth City Foundation Committee Raleigh, NC PURPOSE: EDUCATIONAL | $9,703 |
Endowment Analysis
| Beg. Balance | $5,390,218 |
| Earnings | $1,888,028 |
| Admin Expense | $136,347 |
| Net Contributions | $222,840 |
| Grants | $346,207 |
| Ending Balance | $7,018,532 |