Utah Valley University Foundation Inc
- Assets
- $157.7m
- Revenue
- $32.9m
- Investments
- $5.6m
- Employees
- 0
- Location
- Orem, UT
- Founding
- 08/1982
- Data as of
- 06/2022
- EIN
- 87-0036944
Organization Overview
Utah Valley University Foundation Inc is located in Orem, UT. The organization was established in 1982. According to its NTEE Classification (B41) the organization is classified as: Two-Year Colleges, 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. Utah Valley 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, Utah Valley University Foundation Inc generated $32.9m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 29.7% each year . All expenses for the organization totaled $11.0m during the year ending 06/2022. 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 ASSIST UTAH VALLEY UNIVERSITY (UVU) IN FULFILLING ITS OBJECTIVES: TO AID AND ADVANCE THE SERVICES OF UVU, TO RAISE FUNDS FOR STUDENT SCHOLARSHIPS, AND TO RAISE FUNDS FOR UNIVERSITY PROGRAM DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
UNIVERSITY INSTITUTIONAL AND EDUCATIONAL PROGRAM ENHANCEMENT. SEE ALSO SCHEDULE I, PART II.
FUNDS PROVIDED TO UNIVERSITY THAT WERE USED TO AWARD 2,213 SCHOLARSHIPS TO 1,237 STUDENTS; THESE SCHOLARSHIPS PAID FOR APPROXIMATELY 17,318 UNIVERSITY CREDIT HOURS. SEE ALSO SCHEDULE I, PART II.
ANNUITY PAYMENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Astrid Tuminez University President | OfficerTrustee | 4 | $0 |
Mark Arstein CEO | OfficerTrustee | 40 | $0 |
Jefferson Moss COO | OfficerTrustee | 40 | $0 |
Aaron Price CFO | OfficerTrustee | 40 | $0 |
Kris Mcfarland Board 1st Vice-Chair | OfficerTrustee | 2 | $0 |
Duane Madsen Board 2nd Vice-Chair | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $647,264 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $22,546,085 |
| Noncash contributions included in lines 1a–1f | $1,215,335 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $23,193,349 |
| Total Program Service Revenue | $0 |
| Investment income | $3,010,489 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,267,301 |
| Net Income from Fundraising Events | $38,650 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $32,933,726 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,108,508 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $0 |
| 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 | $371,091 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,591 |
| Office expenses | $309,834 |
| Information technology | $53,007 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $34,411 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,915 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $10,988,640 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $71,595,145 |
| Pledges and grants receivable | $19,258,481 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,809,886 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $49,767,306 |
| Investments—other securities | $5,599,092 |
| Investments—program-related | $6,873,772 |
| Intangible assets | $0 |
| Other assets | $1,826,586 |
| Total assets | $157,730,268 |
| Accounts payable and accrued expenses | $0 |
| 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 | $1,919,921 |
| Total liabilities | $1,919,921 |
| Net assets without donor restrictions | $8,186,306 |
| Net assets with donor restrictions | $147,624,041 |
| 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 | $157,730,268 |
Grants Awarded
Over the last fiscal year, Utah Valley University Foundation Inc has awarded $10,108,508 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
UTAH VALLEY UNIVERSITY PURPOSE: Support UVU programs | $7,676,999 |
UTAH VALLEY UNIVERSITY PURPOSE: Scholarship funding for UVU students | $2,080,318 |
UTAH VALLEY UNIVERSITY PURPOSE: Support UVU programs | $351,191 |