Towson University Foundation Inc

Organization Overview

Towson University Foundation Inc is located in Towson, MD. The organization was established in 1970. 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 06/2021, Towson University Foundation Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Towson 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, Towson University Foundation Inc generated $15.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 15.5% 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 2015, Towson University Foundation Inc has awarded 24 individual grants totaling $26,585,383. 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO RAISE, INVEST, AND DISBURSE FUNDS FOR THE BENEFIT OF TOWSON UNIVERSITY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

SCHOLARSHIPS AND AWARDS - TOWSON UNIVERSITY FOUNDATION IS COMMITTED TO PROVIDING STUDENTS WITH THE OPPORTUNITY TO OBTAIN A LIBERAL EDUCATION - AN EDUCATION THAT HELPS STUDENTS DEVELOP THE ABILITY TO THINK CRITICALLY; TO BE LITERATE, INFORMED AND ARTICULATE; TO HONOR DIVERSITY; TO DISCUSS AND DEBATE IDEAS AND ISSUES FROM MULTIPLE PERSPECTIVES, AND TO BE CAPABLE OF TAKING ON RESPONSIBILITY IN AN EVER-CHANGING WORLD. TO CREATE THOSE OPPORTUNITIES, MANY STUDENTS NEED AND DESERVE FINANCIAL ASSISTANCE. AS OF JUNE 30, 2021, TOWSON UNIVERSITY FOUNDATION HAD 324 ENDOWED SCHOLARSHIPS AND PRESENTS ADDITIONAL CASH AWARDS EACH YEAR TO DESERVING STUDENTS FROM EXISTING OPERATING FUNDS. SINCE STATE OF MARYLAND FUNDING NOW ACCOUNTS FOR LESS THAN 1/3 OF THE COST OF A TOWSON UNIVERSITY EDUCATION, PRIVATE FUNDING FROM GENEROUS DONORS ALLOWS TODAY'S STUDENTS AND TOMORROW'S LEADERS TO MEET THEIR FINANCIAL OBLIGATIONS. IN THE FISCAL YEAR ENDING JUNE 30, 2021, THE FOUNDATION MADE 1,144 SEPARATE SCHOLARSHIP AWARDS TO DESERVING STUDENTS TOTALING $2,118,399.ADDITIONALLY, 433 STUDENTS RECEIVED A TOTAL OF $100,200 IN STUDENT EMERGENCY AWARDS, WITH INDIVIDUAL AWARDS RANGING FROM $50 - $400.


UNIVERSITY SUPPORT - TO CREATE AN ENVIRONMENT THAT IS CONDUCIVE TO LEARNING, INSTITUTIONS OF HIGHER LEARNING MUST HAVE PROPER FACILITIES AND FACULTY DEDICATED TO TEACHING. FUNDS ARE MADE AVAILABLE FOR USE BY THE UNIVERSITY PRESIDENT, THE VICE PRESIDENTS AND THE DEANS OF THE SEVEN COLLEGES TO SUPPORT AREAS WHERE IMPROVEMENTS ARE NEEDED. WE REMAIN COMMITTED TO OUR GOAL OF HELPING THE UNIVERSITY ATTRACT, HIRE AND RETAIN FACULTY MEMBERS WHO ARE LEADERS IN THEIR FIELD OF STUDY, AND WHO HAVE DEMONSTRATED SUPERIOR TEACHING SKILLS. TO KEEP THEM CURRENT ON NEW DEVELOPMENTS IN THEIR FIELD AND TEACHING METHODS, THEY ARE ENCOURAGED TO PERFORM RESEARCH AND TO ATTEND SEMINARS AND CONFERENCES. IN ADDITION TO FUNDING PROVIDED BY DONORS, THE FOUNDATION ALSO MAKES FUNDS AVAILABLE TO THE UNIVERSITY THROUGH THE UNRESTRICTED BUDGET PROCESS THAT HELPED TO SUPPORT THE VARIOUS PRESIDENTIAL INITIATIVES. THESE ARE INITIATIVES THAT MIGHT OTHERWISE NOT MOVE FORWARD DUE TO THE LACK OF OTHER FUNDING SOURCES.


ATHLETIC PROGRAMS - THE FOUNDATION SOLICITS AND MANAGES FUNDS IN SUPPORT OF THE UNIVERSITY'S ALIGNED VISION FOR ATHLETICS, WHICH STATES "TOWSON UNIVERSITY IS COMMITTEED TO A FINANCIALLY STABLE, GENDER-EQUITABLE AND COMPETITIVE ATHLETICS PROGRAM. THE UNIVERSITY WILL CONTINUE TO SUPPORT THESE GOALS BY PLACING ACADEMICS FIRST. WE WILL SUPPORT OPPORTUNITIES FOR ALL TOWSON STUDENTS TO PARTICIPATE IN A RANGE OF SPORTS ACTIVITIES AND LEADERSHIP OPPORTUNITIES THAT SUPPORT PHYSICAL WELL-BEING AND PERSONAL EXCELLENCE." THE UNIVERSITY CURRENTLY FIELDS 19 DIVISION I ATHLETIC TEAMS (13 IN WOMEN'S SPORTS, 6 IN MEN'S SPORTS).


THE $1,312,107 OF OTHER PROGRAM SERVICE EXPENSES RELATE TO EXPENSES THAT SUPPORT THE VARIETY OF PROGRAMS OFFERED BY TOWSON UNIVERSITY FOR THE BENEFIT OF THE STUDENTS, FACULTY AND STAFF OF THE UNIVERSITY. ALL EXPENSES SUPPORT THE CORE MISSION OF THE FOUNDATION AND THEREFORE THAT OF THE UNIVERSITY AS WELL. THE FOUNDATION EXISTS TO SUPPORT THE UNIVERSITY THROUGH THESE EXPENDITURES.


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Board, Officers & Key Employees

Name (title)Compensation
John J Mease Jr
Vice President/ CFO
$153,010
J William Murray
President
$0
Salvatore Correnti
Vice President
$0
Edna Primrose
Vice President
$0
David M Vahos
Vice President
$0
Kim A Fabian
Vice President
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Chartwells Dining Services
Food Services
$340,995
Ruffalo Noel Levitz
Project Management
$246,094
Chartwells Dining Services
Food Services
$340,995
Ruffalo Noel Levitz
Project Management
$246,094
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$28,185
Membership dues$0
Fundraising events$32,680
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$8,504,048
Noncash contributions included in lines 1a–1f $401,072
Total Revenue from Contributions, Gifts, Grants & Similar$8,564,913
Total Program Service Revenue$19,301
Investment income $1,853,075
Tax Exempt Bond Proceeds $0
Royalties $4,105
Net Rental Income $0
Net Gain/Loss on Asset Sales $4,991,829
Net Income from Fundraising Events $42,385
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $15,736,271

Grants Awarded

Over the last fiscal year, Towson University Foundation Inc has awarded $3,637,058 in support to 3 organizations.

Grant RecipientAmount

TOWSON UNIVERSITY

PURPOSE: SCHOLARSHIPS AND AWARDS TO VARIOUS RECIPIENTS

$2,218,599

TOWSON UNIVERSITY

PURPOSE: SEE SCHEDULE I PART IV

$1,291,033

TOWSON UNIVERSITY

PURPOSE: EQUIPMENT FOR USE OF TOWSON UNIVERSITY STUDENTS

$127,426
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 5 grants that Towson University Foundation Inc has recieved totaling $47,000.

Awarding OrganizationAmount
Peggy & Yale Gordon Chcaritable Tr

Towson, MD

PURPOSE: ENDOWMENT FOR GUEST ARTIST

$25,000
Peggy & Yale Gordon Chcaritable Tr

Towson, MD

PURPOSE: ENDOWMENT FOR CLASSICAL MUSIC PERFOR

$10,000
The Huether Foundation Inc

Phoenix, MD

PURPOSE: HUETHER/MCCLELLAND ENDOWMENT FOR TOP 10 SCHOLARS

$5,000
P O W E R Foundation Inc

Baltimore, MD

PURPOSE: EDUCATIONAL

$5,000
Peggy & Yale Gordon Chcaritable Tr

Towson, MD

PURPOSE: MUSIC PROGRAM

$2,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$66,953,116
Earnings$19,184,261
Admin Expense$734,853
Net Contributions$2,709,472
Other Expense$586,793
Grants$1,400,111
Ending Balance$86,125,092

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