Clarion Universiy Foundation Inc
- Assets
- $152.6m
- Revenue
- $6.4m
- Investments
- $0.0
- Employees
- 7
- Location
- Clarion, PA
- Founding
- 03/1971
- Data as of
- 06/2022
- EIN
- 25-1256915
Organization Overview
Clarion Universiy Foundation Inc is located in Clarion, 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, Clarion Universiy Foundation Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Clarion Universiy 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 06/2022, Clarion Universiy Foundation Inc generated $6.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $7.8m during the year ending 06/2022. While expenses have increased by 10.6% per year over the past 8 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE FINANCIAL AND OTHER SUPPORT DEEMED NECESSARY AND APPROPRIATE TO STRENGTHEN THE WELL BEING OF CLARION UNIVERSITY AND THE TOTAL CLARION UNIVERSITY COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STUDENT HOUSING:PROGRAMS OF THE FOUNDATION INCLUDE REINHARD VILLAGES, THE STUDENT HOUSING PROJECT AT CLARION UNIVERSITY OF PA ON-CAMPUS RESIDENCE HALLS SUITES - PHASE I AND THE STUDENT HOUSING PROJECT AT CLARION UNIVERSITY OF PA ON-CAMPUS RESIDENCE HALLS SUITES - PHASE II. THESE PROGRAMS INCLUDE RESIDENTIAL BUILDINGS ON THE UNIVERSITY CAMPUS AND PROVIDE LIVING QUARTERS FOR STUDENTS OF THE UNIVERSITY.
FOUNDATION SUPPORTED ACTIVITIES AND PROGRAMS - APPROX. 100 DIFFERENT PROGRAMS
23 GRANTS FOR SPECIAL PROJECTS BENEFITING STUDENTS, ALUMNI, PERSONNEL, AND THE COLLEGE COMMUNITY.1,245 SCHOLARSHIPS AND AWARDS BENEFITING 861 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark R Demich President-Elect | OfficerTrustee | 2 | $0 |
Jane France President | OfficerTrustee | 2 | $0 |
Scott Burns Vice President | OfficerTrustee | 2 | $0 |
Carol Truscott Secretary | OfficerTrustee | 2 | $0 |
Bruce Sukaly Treasurer | OfficerTrustee | 2 | $0 |
Chris Allison Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,738,605 |
| Investment income | $64,542 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $11,155 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $37,916 |
| Net Income from Fundraising Events | -$1,984 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,384,820 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $1,357,401 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $205,547 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $175,106 |
| Pension plan accruals and contributions | $2,952 |
| Other employee benefits | $31,877 |
| Payroll taxes | $26,253 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $350 |
| Fees for services: Accounting | $47,671 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $125,057 |
| Fees for services: Other | $0 |
| Advertising and promotion | $305 |
| Office expenses | $16,376 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $415,664 |
| Travel | $51,633 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,146 |
| Interest | $3,329,666 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $193,919 |
| Insurance | $18,498 |
| All other expenses | $0 |
| Total functional expenses | $7,803,464 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $563,515 |
| Savings and temporary cash investments | $4,471,509 |
| Pledges and grants receivable | $569,177 |
| Accounts receivable, net | $87,036,796 |
| 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 | $150,588 |
| Investments—publicly traded securities | $43,493,327 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,376,484 |
| Total assets | $152,611,961 |
| Accounts payable and accrued expenses | $2,590,678 |
| Grants payable | $0 |
| Deferred revenue | $26,168 |
| Tax-exempt bond liabilities | $46,145,000 |
| 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 | $43,767,703 |
| Other liabilities | $1,902,134 |
| Total liabilities | $94,431,683 |
| Net assets without donor restrictions | $16,389,547 |
| Net assets with donor restrictions | $41,790,731 |
| 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 | $58,180,278 |