Shepherd University Foundation Inc
- Assets
- $36.2m
- Revenue
- $4.9m
- Investments
- $445.8k
- Employees
- 5
- Location
- Shepherdstown, WV
- Founding
- 01/1962
- Data as of
- 06/2022
- EIN
- 55-6020064
Organization Overview
Shepherd University Foundation Inc is located in Shepherdstown, WV. The organization was established in 1962. 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, Shepherd University Foundation Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Shepherd 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 06/2022, Shepherd University Foundation Inc generated $4.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 20.3% each year . All expenses for the organization totaled $3.1m during the year ending 06/2022. While expenses have increased by 4.8% per year over the past 7 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.
Since 2019, Shepherd University Foundation Inc has awarded 24 individual grants totaling $1,839,628. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE SCHOLARSHIPS AND AWARDS FOR STUDENTS ATTENDING SHEPHERD UNIVERSITY, SHEPHERDSTOWN, WV.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS & AWARDS - SHEPHERD UNIVERSITY STUDENTS
GENERAL UNIVERSITY SUPPORT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Monica W Lingenfelter Executive Vi | Officer | 40 | $135,445 |
Cathy M Nevy Comptroller | Officer | 40 | $87,025 |
Karl L Wolf Secretary | OfficerTrustee | 1 | $0 |
Christopher S Colbert President | OfficerTrustee | 5 | $0 |
D Benjamin Deuell Vice Preside | OfficerTrustee | 3 | $0 |
Austin J Slater Jr Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $13,360 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,700,470 |
| Noncash contributions included in lines 1a–1f | $1,596,393 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,713,830 |
| Total Program Service Revenue | $0 |
| Investment income | $1,163,530 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $24,597 |
| Net Income from Fundraising Events | -$9,170 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,902,607 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $926,008 |
| Grants and other assistance to domestic individuals. | $988,235 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $234,371 |
| Compensation of current officers, directors, key employees. | $191,299 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $155,940 |
| Pension plan accruals and contributions | $3,375 |
| Other employee benefits | $18,273 |
| Payroll taxes | $28,860 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,451 |
| Fees for services: Accounting | $43,060 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $198,309 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,410 |
| Office expenses | $62,218 |
| Information technology | $5,056 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,350 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $385 |
| Insurance | $16,842 |
| All other expenses | $6,124 |
| Total functional expenses | $3,085,297 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $959,794 |
| Savings and temporary cash investments | $3,116,550 |
| Pledges and grants receivable | $470,232 |
| Accounts receivable, net | $87 |
| 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 | $6,582 |
| Net Land, buildings, and equipment | $92,734 |
| Investments—publicly traded securities | $31,088,928 |
| Investments—other securities | $445,804 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $30,420 |
| Total assets | $36,211,131 |
| Accounts payable and accrued expenses | $5,802 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $1,329,446 |
| 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 | $61,048 |
| Total liabilities | $1,396,296 |
| Net assets without donor restrictions | -$1,153,151 |
| Net assets with donor restrictions | $35,967,986 |
| 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 | $36,211,131 |
Grants Awarded
Over the last fiscal year, Shepherd University Foundation Inc has awarded $920,940 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
SHEPHERD UNIVERSITY PURPOSE: GENERAL EXPENSES | $843,070 |
Martinsburg, WV PURPOSE: GENERAL SUPPORT | $31,250 |
Martinsburg, WV PURPOSE: GENERAL SUPPORT | $15,625 |
Shepherdstown, WV PURPOSE: GENERAL SUPPORT | $14,800 |
Martinsburg, WV PURPOSE: GENERAL SUPPORT | $9,945 |
Martinsburg, WV PURPOSE: GENERAL SUPPORT | $6,250 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that Shepherd University Foundation Inc has recieved totaling $721,529.
| Awarding Organization | Amount |
|---|---|
Nora Roberts Foundation Inc Glenn Dale, MD PURPOSE: OPERATIONS | $700,000 |
Eastern West Virginia Community Foundation Martinsburg, WV PURPOSE: HUMAN WELFARE | $10,390 |
Carlson Family Foundation Inc Chapel Hill, NC PURPOSE: DISCRETIONARY GRANT | $5,000 |
Verizon Foundation Basking Ridge, NJ PURPOSE: MIP PAYOUT FOR 06/21/21 | $2,000 |
Harry C & Reba C Rickard Rev Tr Las Vegas, NV PURPOSE: GENERAL OPERATING | $1,050 |
Jone L Bowman Foundation Inc Williamsport, MD PURPOSE: SUPPORT EXEMPT PURPOSES | $1,000 |
Endowment Analysis
| Beg. Balance | $30,505,661 |
| Earnings | -$4,311,234 |
| Net Contributions | $2,124,843 |
| Other Expense | -$1,021,075 |
| Ending Balance | $27,298,195 |
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 |