Civic Intelligence

Delaware State University Foundation Inc.

990 • Fiscal year 2015 • EIN 20-1372435

Jul 01, 2014 to Jun 30, 2015 • Filed on Dec 17, 2015

Organization Profilewww.desu.edu
1200 North Dupont HighwayDover, DE 19901

(302) 857-7801

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

20th percentile

0.03x

Higher debt load relative to assets than 20% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Liabilities / Revenue

30th percentile

0.11x

Higher debt load relative to revenue than 30% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Net Margin

95th percentile

67%

Higher net margin than 95% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Top Officer Pay

89th percentile

$469,833

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 8.6% of source-year revenue.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Asset Growth

80th percentile

13%

Faster asset growth than 80% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Revenue Growth

92nd percentile

59%

Faster revenue growth than 92% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets20th percentile

Assets

Up

$21,036,548

Up $2,403,683 (+13%) from 2014

Net Assets

Up

$20,444,971

Up $2,468,896 (+14%) from 2014

Liabilities

Down

$591,577

Down $65,213 (-9.9%) from 2014

Revenue And Expenses
Liabilities / Revenue30th percentileNet Margin95th percentile

Revenue

Up

$5,437,102

Up $2,011,770 (+59%) from 2014

Expenses

Down

$1,814,370

Down $452,856 (-20%) from 2014

Net Income

Up

$3,622,732

Up $2,464,626 (+213%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth80th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$60M$40M$20M$0Assets 2011: $16,437,223Liabilities 2011: $586,072Net Assets 2011: $15,851,1512011Assets 2012: $15,580,128Liabilities 2012: $521,206Net Assets 2012: $15,058,9222012Assets 2013: $16,360,693Liabilities 2013: $640,952Net Assets 2013: $15,719,7412013Assets 2014: $18,632,865Liabilities 2014: $656,790Net Assets 2014: $17,976,0752014Assets 2015: $21,036,548Liabilities 2015: $591,577Net Assets 2015: $20,444,9712015Assets 2016: $20,691,464Liabilities 2016: $686,691Net Assets 2016: $20,004,7732016Assets 2017: $21,135,639Liabilities 2017: $427,022Net Assets 2017: $20,708,6172017Assets 2018: $21,477,233Liabilities 2018: $742,921Net Assets 2018: $20,734,3122018Assets 2019: $14,652,214Liabilities 2019: $491,000Net Assets 2019: $14,161,2142019Assets 2020: $15,136,288Liabilities 2020: $259,701Net Assets 2020: $14,876,5872020Assets 2021: $29,822,062Liabilities 2021: $654,378Net Assets 2021: $29,167,6842021Assets 2022: $37,335,368Liabilities 2022: $937,633Net Assets 2022: $36,397,7352022Assets 2023: $41,592,921Liabilities 2023: $472,082Net Assets 2023: $41,120,8392023Assets 2024: $37,475,656Liabilities 2024: $456,893Net Assets 2024: $37,018,7632024

Highlighted filing

2015

Assets$21,036,548
Liabilities$591,577
Net Assets$20,444,971
Open 2015 Filing

Operations Trend

Revenue Growth92nd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$30M$20M$10M$0-$10MRevenue 2011: $2,276,761Expenses 2011: $1,130,456Net Income 2011: $1,146,3052011Expenses 2012: $1,698,7682012Revenue 2013: $1,869,069Expenses 2013: $1,844,303Net Income 2013: $24,7662013Revenue 2014: $3,425,332Expenses 2014: $2,267,226Net Income 2014: $1,158,1062014Revenue 2015: $5,437,102Expenses 2015: $1,814,370Net Income 2015: $3,622,7322015Revenue 2016: $3,448,423Expenses 2016: $3,586,073Net Income 2016: -$137,6502016Revenue 2017: $3,534,899Expenses 2017: $3,715,362Net Income 2017: -$180,4632017Revenue 2018: $4,370,370Expenses 2018: $4,876,840Net Income 2018: -$506,4702018Revenue 2019: $5,453,288Expenses 2019: $12,294,950Net Income 2019: -$6,841,6622019Revenue 2020: $6,786,908Expenses 2020: $5,977,056Net Income 2020: $809,8522020Revenue 2021: $16,875,299Expenses 2021: $6,240,762Net Income 2021: $10,634,5372021Revenue 2022: $19,092,791Expenses 2022: $8,745,735Net Income 2022: $10,347,0562022Revenue 2023: $14,796,790Expenses 2023: $12,076,158Net Income 2023: $2,720,6322023Revenue 2024: $15,075,842Expenses 2024: $21,163,293Net Income 2024: -$6,087,4512024

Highlighted filing

2015

Revenue$5,437,102
Expenses$1,814,370
Net Income$3,622,732
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Dec 17, 2015
Return Version
2014v5.0
Gross Receipts
$6,007,311
Mission and Program Overview

Mission

Delaware state university foundation, inc promotes and fosters the educational interests of delaware state university, a publicly supported institution of higher education and a corporation of the state of delaware. The foundation seeks to create a sizeable monetary fund to be used for any program, project, or enterprise undertaken in the interest of the university.

To secure and administer private funds in support of academic programs, student scholarships, faculty development, public service initiatives, and other priorities of Delaware State University.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$13,117,463$14,420,750▲ $1,303,287
Cash and Non-Interest-Bearing Accounts$2,798,989$3,713,818▲ $914,829
Pledges and Grants Receivable$1,528,118$1,717,006▲ $188,888
Land, Buildings, and Equipment, Net$1,787$73,810▲ $72,023
Total Assets$18,632,865$21,036,548▲ $2,403,683
Other Assets Total$1,186,508$1,111,164▼ $75,344
Liabilities
Deferred Revenue$439,929$415,865▼ $24,064
Other Liabilities$102,479$118,410▲ $15,931
Accounts Payable and Accrued Expenses$114,382$57,302▼ $57,080
Total Liabilities$656,790$591,577▼ $65,213
Net Assets / Fund Balance
Temporarily Rstr Net Assets$8,581,054$11,001,574▲ $2,420,520
Permanently Rstr Net Assets$7,804,717$8,038,220▲ $233,503
Unrestricted Net Assets$1,590,304$1,405,177▼ $185,127
Total Net Assets Fund Balance$17,976,075$20,444,971▲ $2,468,896
Total Liabilities and Net Assets / Fund Balance$18,632,865$21,036,548▲ $2,403,683

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$73,810$28,690$102,500
Other Assets Org$1,111,164--
Other Securities$1,161,760--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$13,801,349$248,503▲ $61,227-$13,543,456
2013$11,470,085$1,218,087▲ $1,490,066-$13,801,349
2012$10,427,404$409,053▲ $1,008,802-$11,470,085
2011$12,002,499$49,564▼ $1,166,703-$10,427,404
2010$9,606,558$31,943▲ $2,767,561-$12,002,499
Compensation and Service Providers
Top Officer Pay89th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Harry L WilliamsPresident of Delaware State UniversityPT$469,833$469,833
Teresa HardeeInterim President of Delaware State University FouPT$298,214$298,214
Michele MartinInterim Controller of Delaware State University FoPT$145,316$145,316
Harry L WilliamsPresident of Delaware State Universi-$109,177$109,177
Teresa HardeeInterim President of Delaware State-$60,005$60,005
Carolyn CurryPresident/CEOPT$50,475$50,475

Board Members and Trustees

NameTitle
James StewartChairman of the BOD
Amir MohammadiMember
Jose EcheverriSecretary and Treasurer of the BOD
Revenue and Support

Revenue Composition

Contributions and Grants
$4,009,727
Program Service Revenue
$0
Investment Income
$1,437,875
Other Revenue
$-10,500
All Other Contributions
$3,874,478
Change in Net Assets
$3,622,732

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,437,102
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-1,041,947
Total Revenue per Audited Statements
$4,395,155
Total Revenue per Form 990
$5,437,102
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$986,348
Grants and Similar Amounts Paid$828,022
Total Fundraising Expense$169,373
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$828,022--$828,022
Office Expenses$318,992$109,654-$428,646
Fees for Services Other$258,178$28,682-$286,860
Other Expenses--$169,373$169,373
Travel$61,354$20,677-$82,031
Conferences and Meetings$13,462--$13,462
Depreciation Depletion$5,476--$5,476
Occupancy$500--$500
Total Functional Expenses$1,485,984$159,013$169,373$1,814,370

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,926,259
Expenses per Audited Statements$1,814,370
Total Expenses per Form 990$1,814,370
Expenses Not Reported on Form 990$111,889
Expenses Not Reported on Financial Statements$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Delaware State University-501(c)(3)To support academic programs, student scholarships, faculty development, public service initiatives, and other priorities of Delaware State University.$828,022
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$111,889
Fundraising Gross Income$101,389
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
President's Scholarship Ball$129,663$24,761$7,741$17,020
Golf Tournament$25,045$10,575$11,373$-798
Total Events$236,638$101,389$111,889$-10,500
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Charitable Gift Annuity Payable$83,776
Due to Delaware State University$34,634
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 8B

“The Delaware State University Foundation does not have a committee with authority to act on behalf of the governing body.”

Form 990, Part VI, Section B, line 11

“Each board member receives a copy of the 990 to review and to make any comments are changes. Once all changes and a final approval is received from each board members, the 990 form is signed by the Controller or President and mailed.”

Form 990, Part VI, Section B, line 12C

“We are getting recertifications from board members and will do it annually. Currently our board membership is static and small discussions concerning conflicts are informally held during the term of the members.”

Form 990, Part VI, Section C, line 19

“The Delaware State University Foundation makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Delaware State University Foundation Inc
EIN
20-1372435
Phone
3028577801
Address
1200 North Dupont Highway, Dover, DE 19901

Signing Officer

Name
Michelle Martin
Title
Controller
Phone
3028577801
Signed
2015-12-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Carolyn Curry
Formed
2006
Legal Domicile
De
Voting Board Members
7
Independent Board Members
3
Employees
0
Volunteers
3

Preparer

Firm
SB & Company LLC
Address
200 International Circle Suite 5500, Hunt Valley, MD 21030
Preparer
Monique Booker
Phone
4105840060
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C:

“The process has not changed from prior year.”

Financial Statement Notes

Part V, Line 4:

“Scholarships and University support.”

Part X, Line 2:

“The Foundation is exempt from taxation other than net unrelated business income tax under the provisions of Section 501(c)(3) of the Internal Revenue Code. Accordingly, no income tax expense has been provided in the accompanying financial statements. The Foundation has adopted the authoritative guidance relating to accounting for uncertainty in income taxes included. These provisions provide consistent guidance for the accounting for uncertainty in income taxes recognized in an entity's financial statements and prescribe a threshold of "more likely than not" for recognition of tax positions taken or expected to be taken in a tax return. The Foundation performed an evaluation of uncertain tax positions as of June 30, 2015, and determined that there were no matters that would require recognition in the accompanying financial statements or which may have any effect on its tax-exempt status. As of June 30, 2015, the statute of limitations for fiscal years 2012 through 2015 remains open with the U.S. Federal jurisdiction or the various states and local jurisdictions in which the Foundation files tax returns. It is the Foundation's policy to recognize interest and/or penalties related to uncertain tax positions, if any, in income tax expense.”

Part XI, Line 2D - Other Adjustments:

“Fundraising Expenses 111,889.”

Part XII, Line 2D - Other Adjustments:

“Fundraising Expenses 111,889.”

Raw XML AppendixShowing 400 of 588 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt1President of Delaware State University
IRS990/Form990PartVIISectionAGrp/TitleTxt2Interim President of Delaware State University Fou
IRS990/Form990PartVIISectionAGrp/TitleTxt3Interim Controller of Delaware State University Fo
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IRS990/MissionDesc0Delaware State University Foundation, Inc promotes and fosters the educational interests of Delaware State University, a publicly supported institution of higher education and a corporation of the State of Delaware. The Foundation seeks to create a sizeable monetary fund to be used for any program, project, or enterprise undertaken in the interest of the University.
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IRS990/OccupancyGrp/TotalAmt0500
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0109654
IRS990/OfficeExpensesGrp/ProgramServicesAmt0318992
IRS990/OfficeExpensesGrp/TotalAmt0428646
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt01186508
IRS990/OtherAssetsTotalGrp/EOYAmt01111164
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0Campaign Fundraising
IRS990/OtherExpensesGrp/FundraisingAmt0169373
IRS990/OtherExpensesGrp/TotalAmt0169373
IRS990/OtherLiabilitiesGrp/BOYAmt0102479
IRS990/OtherLiabilitiesGrp/EOYAmt0118410
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt07804717
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt08038220
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt01528118
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt01717006
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0Carolyn Curry
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt02895088
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt01170968
IRS990/PYInvestmentIncomeAmt0577120
IRS990/PYOtherExpensesAmt0836914
IRS990/PYOtherRevenueAmt0-46876
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt01158106
IRS990/PYSalariesCompEmpBnftPaidAmt0259344
IRS990/PYTotalExpensesAmt02267226
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt03425332
IRS990/QuidProQuoContributionsInd01
IRS990/QuidProQuoContriDisclInd01
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt03622732
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd01
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd01
IRS990ScheduleA/IRSWrittenDeterminationInd0X
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0510305893
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeDesc02
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt0828022
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0Delaware State University
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt0828022
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/CYEndwmtFundGrp/AdministrativeExpensesAmt0567623
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt013801349
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt0248503
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt013543456
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt061227
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/AdministrativeExpensesAmt0376889
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt011470085
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt01218087
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt013801349
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt01490066
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/AdministrativeExpensesAmt0375174
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt010427404
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt0409053
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt011470085
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt01008802
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/AdministrativeExpensesAmt0457956
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt012002499
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt049564
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt010427404
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-1166703
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/AdministrativeExpensesAmt0403563
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt09606558
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt031943
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt012002499
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt02767561
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/ExpensesNotReportedAmt0111889
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01814370
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0-1153836
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt01111164
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Investment in Schwartz Theater
IRS990ScheduleD/OtherExpensesIncludedAmt0111889
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt073810
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt028690
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0102500
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt034634
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt183776
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Due to Delaware State University
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Charitable Gift Annuity Payable
IRS990ScheduleD/OtherRevenueAmt0111889
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt019702
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt13769470
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt25825804
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt33544014
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt4100000
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt51161760
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Money Market Funds
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Fixed Income Funds
IRS990ScheduleD/OtherSecuritiesGrp/Desc2US Equity Funds
IRS990ScheduleD/OtherSecuritiesGrp/Desc3Non-US Equity Funds
IRS990ScheduleD/OtherSecuritiesGrp/Desc4Leading Edge Ventures I
IRS990ScheduleD/OtherSecuritiesGrp/Desc5Mutual Fund
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd1F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd2F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd3F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd4C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd5F
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.59000
IRS990ScheduleD/RevenueNotReportedAmt0-1041947
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt05437102
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Scholarships and University support.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1The Foundation is exempt from taxation other than net unrelated business income tax under the provisions of Section 501(c)(3) of the Internal Revenue Code. Accordingly, no income tax expense has been provided in the accompanying financial statements. The Foundation has adopted the authoritative guidance relating to accounting for uncertainty in income taxes included. These provisions provide consistent guidance for the accounting for uncertainty in income taxes recognized in an entity's financial statements and prescribe a threshold of "more likely than not" for recognition of tax positions taken or expected to be taken in a tax return. The Foundation performed an evaluation of uncertain tax positions as of June 30, 2015, and determined that there were no matters that would require recognition in the accompanying financial statements or which may have any effect on its tax-exempt status. As of June 30, 2015, the statute of limitations for fiscal years 2012 through 2015 remains open with the U.S. Federal jurisdiction or the various states and local jurisdictions in which the Foundation files tax returns. It is the Foundation's policy to recognize interest and/or penalties related to uncertain tax positions, if any, in income tax expense.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2Fundraising Expenses 111,889.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3Fundraising Expenses 111,889.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part V, Line 4:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part X, Line 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2Part XI, Line 2d - Other Adjustments:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3Part XII, Line 2d - Other Adjustments:
IRS990ScheduleD/TermEndowmentBalanceEOYPct00.41000
IRS990ScheduleD/TotalBookValueLandBuildingsAmt073810
IRS990ScheduleD/TotalBookValueOtherAssetsAmt01111164
IRS990ScheduleD/TotalBookValueSecuritiesAmt014420750
IRS990ScheduleD/TotalExpensesPerForm990Amt01814370
IRS990ScheduleD/TotalLiabilityAmt0118410
IRS990ScheduleD/TotalRevenuePerForm990Amt05437102
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt04395155
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01926259
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt0135249
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt0104902
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent2Amt014470
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriOtherEventsAmt015877
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt0111889
IRS990ScheduleG/FundraisingEventInformationGrp/EntertainmentEvent1Amt0954
IRS990ScheduleG/FundraisingEventInformationGrp/EntertainmentOtherEventsAmt08362
IRS990ScheduleG/FundraisingEventInformationGrp/EntertainmentTotalEventsAmt09316
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0President's Scholarship Ball
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0Golf Tournament
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageEvent1Amt019219
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageEvent2Amt011254
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageOtherEventsAmt019970
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageTotalEventsAmt050443
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt0129663
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt025045
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsOtherEventsAmt081930
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt0236638
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt024761
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt010575
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueOtherEventsAmt066053
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt0101389
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt0-10500
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssOtherEventsAmt033016
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt052130
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt07741
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt011373
IRS990ScheduleG/FundraisingEventInformationGrp/OtherEventsTotalCnt07
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt0828022
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(c)(3)
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0To support academic programs, student scholarships, faculty development, public service initiatives, and other priorities of Delaware State University.

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$21,036,548
Liabilities
$591,577
Net assets
$20,444,971
Revenue
$5,437,102
Expenses
$1,814,370
Net income
$3,622,732
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$37.5$0.46$37.0$15.1$21.2$6.09
2023Detailed filing. Detailed filing data is available for this year.$41.6$0.47$41.1$14.8$12.1$2.72
2022Detailed filing. Detailed filing data is available for this year.$37.3$0.94$36.4$19.1$8.75$10.3
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$29.8$0.65$29.2$16.9$6.24$10.6
2020Detailed filing. Detailed filing data is available for this year.$15.1$0.26$14.9$6.79$5.98$0.81
2019Detailed filing. Detailed filing data is available for this year.$14.7$0.49$14.2$5.45$12.3$6.84
2018Detailed filing. Detailed filing data is available for this year.$21.5$0.74$20.7$4.37$4.88$0.51
2017Detailed filing. Detailed filing data is available for this year.$21.1$0.43$20.7$3.53$3.72$0.18
2016Detailed filing. Detailed filing data is available for this year.$20.7$0.69$20.0$3.45$3.59$0.14
2015Detailed filing. Detailed filing data is available for this year.$21.0$0.59$20.4$5.44$1.81$3.62
2014Detailed filing. Detailed filing data is available for this year.$18.6$0.66$18.0$3.43$2.27$1.16
2013Summary only. Only limited summary data is available for this year.$16.4$0.64$15.7$1.87$1.84$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.6$0.52$15.1$1.70
2011Summary only. Only limited summary data is available for this year.$16.4$0.59$15.9$2.28$1.13$1.15