Salisbury University Foundation Inc
- Assets
- $110.5m
- Revenue
- $7.8m
- Investments
- $100.9m
- Employees
- 0
- Location
- Salisbury, MD
- Founding
- 01/1979
- Data as of
- 06/2023
- EIN
- 52-1127396
Organization Overview
Salisbury University Foundation Inc is located in Salisbury, MD. The organization was established in 1979. 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. Salisbury 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 06/2023, Salisbury University Foundation Inc generated $7.8m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.9%) each year. All expenses for the organization totaled $5.4m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (7.4%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Salisbury University Foundation Inc has awarded 48 individual grants totaling $14,384,082. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ENRICH THE ACTIVITIES, EDUCATIONAL PROGRAMS, ATHLETICS AND SCHOLARSHIPS OF SALISBURY UNIVERSITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACADEMIC ADMINISTRATION
OUTREACH
ENDOWED COLLEGES AND SCHOOLS
ATHLETICS AND CAMPUS RECREATION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Peter Jackson Director | Trustee | 1 | $0 |
Cynthia Bounds Director | Trustee | 1 | $0 |
Howard Crossan Director | Trustee | 1 | $0 |
Dr Mark Bowen Director | Trustee | 1 | $0 |
Jason Curtin Executive Director | OfficerTrustee | 5 | $0 |
Pete Buzy Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $45,177 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,693,381 |
| Noncash contributions included in lines 1a–1f | $272,741 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,738,558 |
| Total Program Service Revenue | $259,957 |
| Investment income | $1,906,257 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$141,175 |
| Net Income from Fundraising Events | $13,272 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,805,094 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,302,472 |
| Grants and other assistance to domestic individuals. | $168,863 |
| 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 | $908,239 |
| 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 | $136,129 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,713 |
| Travel | $315,848 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $337,332 |
| Interest | $104,796 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $30,742 |
| Insurance | $0 |
| All other expenses | $59,350 |
| Total functional expenses | $5,378,594 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $54,042 |
| Savings and temporary cash investments | $11 |
| Pledges and grants receivable | $3,672,947 |
| Accounts receivable, net | $4,252 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,415 |
| Prepaid expenses and deferred charges | $110,867 |
| Net Land, buildings, and equipment | $106,148 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $100,936,074 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,648,854 |
| Total assets | $110,537,610 |
| Accounts payable and accrued expenses | $43,709 |
| Grants payable | $0 |
| Deferred revenue | $144,617 |
| 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 | $1,752,486 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $471,847 |
| Total liabilities | $2,412,659 |
| Net assets without donor restrictions | $10,133,286 |
| Net assets with donor restrictions | $97,991,665 |
| 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 | $110,537,610 |
Grants Awarded
Over the last fiscal year, Salisbury University Foundation Inc has awarded $385,469 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
SALISBURY UNIVERSITY PURPOSE: DONATION FOR THE WARD MUSEUM | $46,146 |
SALISBURY UNIVERSITY PURPOSE: DONATION FOR DELMARVA PUBLIC RADIO | $174,237 |
SALISBURY UNIVERSITY PURPOSE: DONATION FOR SPECIAL GIFTS | $8,520 |
SALISBURY UNIVERSITY PURPOSE: STUDENT ACTIVITIES PROGRAM | $91,905 |
SALISBURY UNIVERSITY PURPOSE: DONATION FOR HONORS PROGRAM | $16,500 |
SALISBURY UNIVERSITY PURPOSE: DONATION FOR DATA PROCESSING | $9,000 |