Civic Intelligence

Delaware State University Foundation Inc.

990 • Fiscal year 2018 • EIN 20-1372435

Jul 01, 2017 to Jun 30, 2018 • Filed on Oct 30, 2018

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

(302) 857-6055

Siviq Scores

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

Liabilities / Assets

23rd percentile

0.03x

Higher debt load relative to assets than 23% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Liabilities / Revenue

42nd percentile

0.17x

Higher debt load relative to revenue than 42% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Net Margin

14th percentile

-12%

Higher net margin than 14% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Top Officer Pay

87th percentile

$405,457

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 9.3% of source-year revenue.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Asset Growth

49th percentile

1.6%

Faster asset growth than 49% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Revenue Growth

80th percentile

24%

Faster revenue growth than 80% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets23rd percentile

Assets

Up

$21,477,233

Up $341,594 (+1.6%) from 2017

Net Assets

Up

$20,734,312

Up $25,695 (+0.1%) from 2017

Liabilities

Up

$742,921

Up $315,899 (+74%) from 2017

Revenue And Expenses
Liabilities / Revenue42nd percentileNet Margin14th percentile

Revenue

Up

$4,370,370

Up $835,471 (+24%) from 2017

Expenses

Up

$4,876,840

Up $1,161,478 (+31%) from 2017

Net Income

Down

-$506,470

Down $326,007 (-181%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth49th 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

2018

Assets$21,477,233
Liabilities$742,921
Net Assets$20,734,312
Open 2018 Filing

Operations Trend

Revenue Growth80th 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

2018

Revenue$4,370,370
Expenses$4,876,840
Net Income-$506,470
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Oct 30, 2018
Return Version
2017v2.3
Gross Receipts
$4,854,204
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$14,905,275$15,541,259▲ $635,984
Cash and Non-Interest-Bearing Accounts$4,075,360$4,575,146▲ $499,786
Pledges and Grants Receivable$1,219,261$466,727▼ $752,534
Land, Buildings, and Equipment, Net$117,500$96,427▼ $21,073
Total Assets$21,135,639$21,477,233▲ $341,594
Other Assets Total$818,243$797,674▼ $20,569
Liabilities
Deferred Revenue$253,076$540,428▲ $287,352
Other Liabilities$169,376$162,830▼ $6,546
Accounts Payable and Accrued Expenses$4,570$39,663▲ $35,093
Total Liabilities$427,022$742,921▲ $315,899
Net Assets / Fund Balance
Temporarily Rstr Net Assets$11,526,515$11,219,991▼ $306,524
Permanently Rstr Net Assets$8,224,094$8,268,279▲ $44,185
Unrestricted Net Assets$958,008$1,246,042▲ $288,034
Total Net Assets Fund Balance$20,708,617$20,734,312▲ $25,695
Total Liabilities and Net Assets / Fund Balance$21,135,639$21,477,233▲ $341,594

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$40,595$61,905$102,500
Equipment$55,832$14,168$70,000
Other Securities$1,240,297--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$14,276,944$44,185▲ $966,247-$14,852,965
2016$12,981,120$115,411▲ $1,602,940-$14,276,945
2015$13,543,456$70,463▼ $161,358-$12,981,120
2014$13,801,349$248,503▲ $61,227-$13,543,456
2013$11,470,085$1,218,087▲ $1,490,066-$13,801,349
Compensation and Service Providers
Top Officer Pay87th percentile

Employees

NameTitleOtherTotal
Henrietta SavageComptroller$94,512$94,512

Board Members and Trustees

NameTitle
Vita PickrumFoundation President
Harry WilliamsUniversity President/Direc
Jose' EcheverriScretary/Treasurer/Directo
Revenue and Support

Revenue Composition

Contributions and Grants
$3,867,520
Program Service Revenue
$0
Investment Income
$413,513
Other Revenue
$89,337
All Other Contributions
$3,817,972
Change in Net Assets
$-506,470

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,370,370
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$673,932
Total Revenue per Audited Statements
$5,044,302
Total Revenue per Form 990
$4,370,370
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$2,974,180
Other Expenses$1,902,660
Total Fundraising Expense$11,587
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$2,974,180--$2,974,180
Fees for Services Other$32,243$482,179-$514,422
Office Expenses$296,282$57,514-$353,796
Travel$114,960--$114,960
Depreciation Depletion$21,071--$21,071
Conferences and Meetings$14,684--$14,684
Other Expenses$872,140-$11,587$11,587
Total Functional Expenses$4,325,560$539,693$11,587$4,876,840

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$5,018,607
Expenses per Audited Statements$4,876,840
Total Expenses per Form 990$4,876,840
Expenses Not Reported on Form 990$141,767
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.$2,974,180
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$200,594
Fundraising Direct Expenses$121,198
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
President's Scholarship Ball$120,014$78,566$31,105$47,461
First Lady's Hats & Gloves Tea$21,933$13,833$899$12,934
Total Events$153,602$104,054$121,198$-17,144
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Delaware State University$91,654
Charitable Gift Annuity Payable$71,176
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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 11B

“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
3028576055
Address
1200 North Dupont Highway, Dover, DE 19901

Signing Officer

Name
Dr Vita Pickrum CFRE
Title
President
Phone
3028576055
Signed
2018-10-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Vita Pickrum CFRE
Formed
2006
Legal Domicile
De
Voting Board Members
3
Independent Board Members
1
Employees
0
Volunteers
0

Preparer

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

Additional Explanations

Form 990, Part IX, line 11G

“Other professional fees: Program service expenses 32,243. Management and general expenses 482,179. Fundraising expenses 0. Total expenses 514,422.”

Form 990, Part XI, line 9:

“Non operating expense -20,569.”

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 a not-for-profit organization that 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. 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, 2018, 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, 2018, the statute of limitations for fiscal years 2015 through 2018 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 121,198.”

Part XII, Line 2D - Other Adjustments:

“Fundraising Expenses 121,198. Loss on Interest in Schwartz Center 20,569.”

Raw XML AppendixShowing 400 of 565 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/PYInvestmentIncomeAmt0698087
IRS990/PYOtherExpensesAmt02155535
IRS990/PYOtherRevenueAmt0180718
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-180463
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt03715362
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt03534899
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-506470
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd01
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
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/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0510305893
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd02
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt02974180
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0Delaware State University
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt02974180
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/CYEndwmtFundGrp/AdministrativeExpensesAmt0434411
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt014276944
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt044185
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt014852965
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0966247
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/AdministrativeExpensesAmt0422526
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt012981120
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt0115411
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt014276945
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt01602940
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/AdministrativeExpensesAmt0471441
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt013543456
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt070463
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt012981120
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-161358
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/AdministrativeExpensesAmt0567623
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt013801349
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt0248503
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt013543456
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt061227
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/AdministrativeExpensesAmt0376889
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt011470085
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt01218087
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt013801349
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt01490066
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt055832
IRS990ScheduleD/EquipmentGrp/DepreciationAmt014168
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt070000
IRS990ScheduleD/ExpensesNotReportedAmt0141767
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt04876840
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0552734
IRS990ScheduleD/OtherExpensesIncludedAmt0141767
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt040595
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt061905
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0102500
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt091654
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt171176
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Due to Delaware State University
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Charitable Gift Annuity Payable
IRS990ScheduleD/OtherRevenueAmt0121198
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt053481
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt14170390
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt26350726
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt33687040
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt439325
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt51240297
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Money Market Funds
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Fixed Income Funds
IRS990ScheduleD/OtherSecuritiesGrp/Desc2US Equity
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/PrmnntEndowmentBalanceEOYPct00.55670
IRS990ScheduleD/RevenueNotReportedAmt0673932
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt04370370
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Scholarships and University support.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1The Foundation is a not-for-profit organization that 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. 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, 2018, 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, 2018, the statute of limitations for fiscal years 2015 through 2018 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 121,198.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3Fundraising Expenses 121,198. Loss on Interest in Schwartz Center 20,569.
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/TermEndowmentBalanceEOYPct00.44330
IRS990ScheduleD/TotalBookValueLandBuildingsAmt096427
IRS990ScheduleD/TotalBookValueSecuritiesAmt015541259
IRS990ScheduleD/TotalExpensesPerForm990Amt04876840
IRS990ScheduleD/TotalLiabilityAmt0162830
IRS990ScheduleD/TotalRevenuePerForm990Amt04370370
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt05044302
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt05018607
IRS990ScheduleG/FundraisingEventInformationGrp/CashPrizesEvent1Amt00
IRS990ScheduleG/FundraisingEventInformationGrp/CashPrizesEvent2Amt00
IRS990ScheduleG/FundraisingEventInformationGrp/CashPrizesOtherEventsAmt00
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt049548
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt041448
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent2Amt08100
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriOtherEventsAmt00
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt0121198
IRS990ScheduleG/FundraisingEventInformationGrp/EntertainmentEvent1Amt025100
IRS990ScheduleG/FundraisingEventInformationGrp/EntertainmentEvent2Amt00
IRS990ScheduleG/FundraisingEventInformationGrp/EntertainmentOtherEventsAmt00
IRS990ScheduleG/FundraisingEventInformationGrp/EntertainmentTotalEventsAmt025100
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0President's Scholarship Ball
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0First Lady's Hats & Gloves Tea
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageEvent1Amt041816
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageEvent2Amt018838
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageOtherEventsAmt00
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageTotalEventsAmt060654
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt0120014
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt021933
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsOtherEventsAmt011655
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt0153602
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt078566
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt013833
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueOtherEventsAmt011655
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt0104054
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt0-17144
IRS990ScheduleG/FundraisingEventInformationGrp/NonCashPrizesEvent1Amt00
IRS990ScheduleG/FundraisingEventInformationGrp/NonCashPrizesEvent2Amt00
IRS990ScheduleG/FundraisingEventInformationGrp/NonCashPrizesOtherEventsAmt00
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssOtherEventsAmt00
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt032004
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt031105
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt0899
IRS990ScheduleG/FundraisingEventInformationGrp/OtherEventsTotalCnt07
IRS990ScheduleG/FundraisingEventInformationGrp/RentFacilityCostsEvent1Amt00
IRS990ScheduleG/FundraisingEventInformationGrp/RentFacilityCostsEvent2Amt00
IRS990ScheduleG/FundraisingEventInformationGrp/RentFcltyCostsOtherEventsAmt03440
IRS990ScheduleG/FundraisingEventInformationGrp/RentFcltyCostsTotalEventsAmt03440
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt02974180
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.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1student scholarships, faculty development, public service initiatives,and other priorities of Delaware State University.
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Delaware State University
IRS990ScheduleI/RecipientTable/RecipientEIN0510305893
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$21,477,233
Liabilities
$742,921
Net assets
$20,734,312
Revenue
$4,370,370
Expenses
$4,876,840
Net income
-$506,470
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