Concord University Foundation Inc
- Assets
- $54.7m
- Revenue
- $3.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Athens, WV
- Founding
- 03/1976
- Data as of
- 06/2021
- EIN
- 55-0551303
Organization Overview
Concord University Foundation Inc is located in Athens, WV. The organization was established in 1976. 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. Concord 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, Concord University Foundation Inc generated $3.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 30.1% each year . All expenses for the organization totaled $1.9m during the year ending 06/2021. While expenses have increased by 2.0% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO AID AND STRENGHTEN THE EDUCATIONAL PURPOSES OF CONCORD UNIVERSITY BY DEVELOPING AND UTILIZING THE TIES OF INTEREST, SYMPATHY, AND AFFECTION EXISTING BETWEEN THE UNIVERSITY AND ITS ALUMNI AND FRIENDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ISSUED SCHOLARSHIPS DIRECTLY TO RECIPIENTS, SUPPORTED CONCORD UNIVERSITY WITH SCHOLARSHIP FUNDS, SUPPORTED FACULTY AND STAFF, ADMINISTRATED FUNDS FOR COLLEGE AND COMMUNITY ENRICHMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brad Lane Secretary | OfficerTrustee | 4 | $0 |
Jennifer Ware Vice Chair | OfficerTrustee | 4 | $0 |
Rosemary Goss Treasurer | OfficerTrustee | 6 | $0 |
Jack White Chair | OfficerTrustee | 4 | $0 |
Jason Lunsford Member | Trustee | 4 | $0 |
Greg Allen Member | Trustee | 2 | $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 | $762,925 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $762,925 |
| Total Program Service Revenue | $0 |
| Investment income | $753,093 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,143,547 |
| Net Income from Fundraising Events | $22,210 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,681,775 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $909,593 |
| 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 | $106,497 |
| 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 | $14,970 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $99,620 |
| Fees for services: Other | $26,511 |
| Advertising and promotion | $1,384 |
| Office expenses | $37,406 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,712 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,606 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $878 |
| Insurance | $2,878 |
| All other expenses | $2,120 |
| Total functional expenses | $1,862,753 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $883,459 |
| Savings and temporary cash investments | $305,416 |
| Pledges and grants receivable | $769,276 |
| Accounts receivable, net | $2,587 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,805 |
| Prepaid expenses and deferred charges | $32,479 |
| Net Land, buildings, and equipment | $6,724 |
| Investments—publicly traded securities | $52,438,476 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $234,165 |
| Total assets | $54,675,387 |
| Accounts payable and accrued expenses | $6,659 |
| 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 | $6,361,716 |
| Total liabilities | $6,368,375 |
| Net assets without donor restrictions | $346,474 |
| Net assets with donor restrictions | $47,960,538 |
| 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 | $54,675,387 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Concord University Foundation Inc has recieved totaling $232,767.
| Awarding Organization | Amount |
|---|---|
Hugh I Shott Jr Foundation Bluefield, WV PURPOSE: CHARITABLE - TURF REPLACEMENT ON JUNE O SHOTT FIELD | $150,000 |
Maier Foundation Inc Charleston, WV PURPOSE: SCHOLARSHIPS | $60,000 |
Bb & T West Virginia Foundation Inc Charleston, WV PURPOSE: GENERAL OPERATING | $10,000 |
Pace Family Foundation Inc Princeton, WV PURPOSE: OPERATING FUNDS | $5,000 |
Katharine B Tierney Charitable Foundation Bluefield, WV PURPOSE: GENERAL SUPPORT | $5,000 |
The H P And Anne S Hunnicutt Foundation Inc Princeton, WV PURPOSE: EDUCATIONAL - HOMER K. BALL MEMORIAL SCHOLARSHIP | $1,000 |
Endowment Analysis
| Beg. Balance | $35,389,756 |
| Earnings | $9,743,018 |
| Net Contributions | $63,607 |
| Grants | $1,036,287 |
| Ending Balance | $44,160,094 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Youngstown State University Foundation Youngstown, OH | $318,269,128 | $38,933,738 |
University Of Virginia Investment Management Company Charlottesville, VA | $10,038,884,501 | $457,345,731 |
University Of Maryland Obstetrical And Gynecological Associates P A Baltimore, MD | $13,649,114 | $19,437,289 |
Kent State University Foundation Kent, OH | $245,939,628 | $27,886,498 |
University Of Akron Foundation Akron, OH | $205,506,114 | $14,662,521 |
Educational Foundation Of America Bethesda, MD | $294,733,951 | $32,812,396 |
Old Dominion University Educational Foundation Norfolk, VA | $390,141,589 | $33,517,872 |
School Employees Benefit Trust Cincinnati, OH | $16,584,284 | $19,989,967 |
Marshall University Foundation Incorporated Huntington, WV | $365,151,220 | $39,444,191 |
Friends Of Breakthrough Schools Cleveland, OH | $75,617,435 | $14,315,646 |
Virginia Commonwealth University Foundation Richmond, VA | $117,210,353 | $9,637,107 |
University Of Virginia Healt Foundation Charlottesville, VA | $89,840,390 | $9,560,297 |