Bishops University Foundation
- Assets
- $61.6m
- Revenue
- $5.2m
- Investments
- $8.1m
- Employees
- 0
- Location
- Founding
- 02/1973
- Data as of
- 04/2024
- EIN
- 23-7253795
Organization Overview
Bishops University Foundation is located in null. The organization was established in 1973. According to its NTEE Classification (B43) the organization is classified as: Universities, 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. Bishops 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 04/2024, Bishops University Foundation generated $5.2m in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $5.3m during the year ending 04/2024. As we would expect to see with falling revenues, expenses have declined by (2.9%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
OPERATED STRICTLY FOR EDUCATIONAL PURPOSES - TO PROVIDE ASSISTANCE TO BISHOP'S UNIVERSITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE FINANCIAL ASSISTANCE TO BISHOP'S UNIVERSITY IN THE FORM OF SCHOLARSHIPS AND BURSARIES LIBRARY FUNDING RESEARCH FUNDING ATHLETIC FUNDING AND MISCELLANEOUS FUNDING FOR STUDENT PROGRAMS AND PROJECTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lynne E Bridgman Director | Trustee | 0.5 | $0 |
Roger V Hardy Director | Trustee | 0.5 | $0 |
Marie T Olney Director | Trustee | 0.5 | $0 |
Ronald C Loucks Director | Trustee | 0.5 | $0 |
Daniel Fournier Director | Trustee | 0.5 | $0 |
Sebastien Lebelgrenier Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Burgundy Asset Management Investment Management | 4/29/24 | $163,580 |
Brookfield Asset Management Investment Management | 4/29/24 | $126,363 |
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 | $2,740,093 |
| Noncash contributions included in lines 1a–1f | $616,276 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,740,093 |
| Total Program Service Revenue | $0 |
| Investment income | $2,442,791 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$4,579 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,178,305 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $4,818,150 |
| 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 | $39,028 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,599 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $377,466 |
| Fees for services: Other | $1,742 |
| Advertising and promotion | $0 |
| Office expenses | $3,781 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,601 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $882 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $5,272,572 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $934,521 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,915 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $51,918,031 |
| Investments—other securities | $8,063,625 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $653,346 |
| Total assets | $61,571,438 |
| Accounts payable and accrued expenses | $1,416,698 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,416,698 |
| Net assets without donor restrictions | $1,811,668 |
| Net assets with donor restrictions | $58,343,072 |
| 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 | $61,571,438 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|