Civic Intelligence

Southern University System Foundation

990 • Fiscal year 2014 • EIN 23-7052911

Jan 01, 2014 to Dec 31, 2014 • Filed on Nov 16, 2015

J S Clark Administration Bldg 4Baton Rouge, LA 70813

(225) 771-3911

Siviq Scores

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

Liabilities / Assets

87th percentile

0.85x

Higher debt load relative to assets than 87% of similar nonprofits.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2014

Liabilities / Revenue

96th percentile

8.26x

Higher debt load relative to revenue than 96% of similar nonprofits.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2014

Net Margin

54th percentile

5.5%

Higher net margin than 54% of similar nonprofits.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2014

Top Officer Pay

4th percentile

$0

Higher top officer pay than 4% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2014

Asset Growth

24th percentile

-0.3%

Faster asset growth than 24% of similar nonprofits.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2012 to 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Assets

Down

$76,792,780

Down $479,483 (-0.6%) from 2012

Net Assets

Up

$11,172,419

Up $515,820 (+4.8%) from 2012

Liabilities

Down

$65,620,361

Down $995,303 (-1.5%) from 2012

Revenue

$7,939,826

No earlier filing loaded for comparison.

Expenses

Down

$7,502,499

Down $341,694 (-4.4%) from 2012

Net Income

$437,327

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$80M$60M$40M$20M$0Assets 2011: $76,351,002Liabilities 2011: $70,925,990Net Assets 2011: $5,425,0122011Assets 2012: $77,272,263Liabilities 2012: $66,615,664Net Assets 2012: $10,656,5992012Assets 2014: $76,792,780Liabilities 2014: $65,620,361Net Assets 2014: $11,172,4192014Assets 2015: $75,403,855Liabilities 2015: $63,910,666Net Assets 2015: $11,493,1892015Assets 2016: $72,901,237Liabilities 2016: $62,106,023Net Assets 2016: $10,795,2142016Assets 2017: $50,633,232Liabilities 2017: $37,348,032Net Assets 2017: $13,285,2002017Assets 2018: $43,143,792Liabilities 2018: $34,241,160Net Assets 2018: $8,902,6322018Assets 2019: $50,523,298Liabilities 2019: $41,337,010Net Assets 2019: $9,186,2882019Assets 2021: $59,341,239Liabilities 2021: $41,970,128Net Assets 2021: $17,371,1112021Assets 2022: $60,930,166Liabilities 2022: $39,539,145Net Assets 2022: $21,391,0212022Assets 2023: $63,867,683Liabilities 2023: $39,128,724Net Assets 2023: $24,738,9592023Assets 2024: $70,244,010Liabilities 2024: $39,604,465Net Assets 2024: $30,639,5452024

Highlighted filing

2014

Assets$76,792,780
Liabilities$65,620,361
Net Assets$11,172,419

Operations Trend

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

$30M$20M$10M$0-$10MExpenses 2011: $6,853,5982011Expenses 2012: $7,844,1932012Revenue 2014: $7,939,826Expenses 2014: $7,502,499Net Income 2014: $437,3272014Revenue 2015: $8,787,506Expenses 2015: $8,393,755Net Income 2015: $393,7512015Revenue 2016: $7,298,009Expenses 2016: $8,232,765Net Income 2016: -$934,7562016Revenue 2017: $10,979,460Expenses 2017: $8,710,739Net Income 2017: $2,268,7212017Revenue 2018: $9,619,256Expenses 2018: $7,346,661Net Income 2018: $2,272,5952018Revenue 2019: $11,498,515Expenses 2019: $11,598,056Net Income 2019: -$99,5412019Revenue 2021: $13,209,342Expenses 2021: $7,852,870Net Income 2021: $5,356,4722021Revenue 2022: $17,078,446Expenses 2022: $12,374,923Net Income 2022: $4,703,5232022Revenue 2023: $16,885,744Expenses 2023: $13,537,806Net Income 2023: $3,347,9382023Revenue 2024: $21,014,026Expenses 2024: $13,665,213Net Income 2024: $7,348,8132024

Highlighted filing

2014

Revenue$7,939,826
Expenses$7,502,499
Net Income$437,327
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Nov 16, 2015
Return Version
2014v5.0
Gross Receipts
$8,405,950
Mission and Program Overview

Mission

The organization's primary exempt purpose is to promote the educational and cultural welfare of southern university and a&m college system and to provide additional resources for the benefit of the university system, to encourage, solicit, receive, and administer gifts and requests of property and funds for scientific, educational and charitable purposes, all for the advancement of the southern university system.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$58,872,882$58,021,399▼ $851,483
Cash and Non-Interest-Bearing Accounts$6,607,234$7,744,722▲ $1,137,488
Investments in Publicly Traded Securities$3,721,954$4,111,692▲ $389,738
Savings and Temporary Cash Investments$3,127,764$3,287,790▲ $160,026
Land, Buildings, and Equipment, Net$1,161,359$1,432,798▲ $271,439
Prepaid Expenses and Deferred Charges$846,687$817,709▼ $28,978
Pledges and Grants Receivable$646,703$681,202▲ $34,499
Total Assets$75,980,010$76,792,780▲ $812,770
Other Assets Total$995,427$695,468▼ $299,959
Liabilities
Tax Exempt Bond Liabilities$56,583,937$53,770,000▼ $2,813,937
Other Liabilities$7,549,546$7,984,553▲ $435,007
Accounts Payable and Accrued Expenses$890,137$3,865,808▲ $2,975,671
Mortgage Notes Payable Secured by Investment Property$285,254--
Total Liabilities$65,308,874$65,620,361▲ $311,487
Net Assets / Fund Balance
Temporarily Rstr Net Assets$6,721,141$4,353,740▼ $2,367,401
Unrestricted Net Assets$1,314,649$3,603,581▲ $2,288,932
Permanently Rstr Net Assets$2,635,346$3,215,098▲ $579,752
Total Net Assets Fund Balance$10,671,136$11,172,419▲ $501,283
Total Liabilities and Net Assets / Fund Balance$75,980,010$76,792,780▲ $812,770

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$770,360$2,688,517$3,458,877
Land$555,193-$555,193
Buildings$103,716$68,409$172,125
Equipment$3,529$24,694$28,223
Compensation and Service Providers

Board Members and Trustees

NameTitle
Anna M JonesPresident
Allen SemienBoard Member
Attorney Walter C DumasBoard Member
Calvin BraxtonBoard Member
Darryl Peterson MdBoard Member
Dr Liz WestBoard Member
Dr Ronald Mason JrBoard Member
Gary WilliamsBoard Member
Henry BaptisteBoard Member
Irving MatthewsBoard Member
Kelvin ConeyBoard Member
Lea Polk-montgomeryBoard Member
Luke LavergneBoard Member
Martin W JohnsonBoard Member
Mr Fred BanksBoard Member
Ms Allison J YoungBoard Member
William E Tucker JrBoard Member
Alfred E HarrellExecutive Di
Domoine D RutledgeTreasurer
Joseph a DelpitVice-preside

Highest Paid Contractors

ContractorServicesLocationCompensation
Taylor Porter Attorneys At LawLegal ServicesPO BOX 2471, Baton Rouge, LA 70821$186,283
Revenue and Support

Revenue Composition

Contributions and Grants
$2,754,343
Program Service Revenue
$5,018,803
Investment Income
$-228,408
Other Revenue
$395,088
All Other Contributions
$2,754,343
Change in Net Assets
$437,327

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,939,826
Revenue Not Reported on Form 990
$454,853
Total Revenue per Audited Statements
$8,394,679
Total Revenue per Form 990
$7,939,826
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$7,078,953
Grants and Similar Amounts Paid$363,828
Salaries, Compensation, and Employee Benefits$59,718
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$2,467,505$6,211-$2,473,716
Fees for Services Other$467,761$288,827-$756,588
Office Expenses$340,938$95,675-$436,613
Grants to Domestic Individuals$363,828--$363,828
All Other Expenses$112,280$80,622-$192,902
Travel$150,163$32,420-$182,583
Advertising$93,963$13,007-$106,970
Other Expenses$74,466$15,445-$89,911
Depreciation Depletion$61,905$20,474-$82,379
Conferences and Meetings$61,247$13,414-$74,661
Other Salaries and Wages$13,912$45,806-$59,718
Information Technology$28,764$1,074-$29,838
Insurance-$5,719-$5,719
Total Functional Expenses$6,836,129$666,370$0$7,502,499

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$7,872,925
Total Expenses per Form 990$7,502,499
Expenses per Audited Statements$7,482,025
Expenses Not Reported on Form 990$390,900
Expenses Not Reported on Financial Statements$20,474
Other Expense Adjustments$20,474
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Southern University SystemBoard MembersRentNo$3,751,775
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Affiliate$6,108,539
Rental Deposit Fund$1,876,014

Bond Issues

BondIssuerIssuedIssue PricePurpose
ALa Public Facilities Authority2006-12-13$59,990,000To finance the design, development, acquisition, construction of

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A----

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
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, Page 6, Part VI, Line 11B

Organization's form 990 is reviewed and approved by the board and signed by an appropriate board member prior to filing.

Form 990, Page 6, Part VI, Line 12C

Organization requires all board members to annually disclose all potential conflicts of interest. Potential conflicts are reviewed and discussed by the board and the appropriate actions are taken for any actual conflicts.

Form 990, Page 6, Part VI, Line 19

Governing documents are made available to the public upon request at the organization's offices.

Filing and Contact Details

Filer

Filer Name
Southern University System
EIN
23-7052911
Phone
2257713911
Address
J S CLARK ADMINISTRATION BLDG 4, BATON ROUGE, LA 70813

Signing Officer

Name
Alfred E Harrell Iii
Title
Executive Director
Phone
2257713911
Signed
2015-11-16

Organization Details

Principal Officer
Alfred E Harrell Iii
Formed
1970
Legal Domicile
La
Voting Board Members
20
Independent Board Members
20
Employees
0

Preparer

Firm
J Walker & Company Apc
Address
2740 RUE DE JARDIN STE 100, LAKE CHARLES, LA 70605-4051
Preparer
Jonald J Walker Iii CPA
Phone
3374787902
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The organization's primary exempt purpose is to promote the educational and cultural welfare of southern university and a&m college system and to provide additional resources for the benefit of the university system, to encourage, solicit, receive, and administer gifts and requests of property and funds for scientific, educational and charitable purposes, all for the advancement of the southern university system.

Form 990, Part IX, Line 11G

Professional fees & contracts 467,761 288,827 0

Form 990, Part XI, Line 9

Book / tax depreciation difference 20,474

Form 990, Part XI, Line 9

Prior year adjustment to net assets -20,471

Financial Statement Notes

Schedule D, Page 3, Part X

The foundation operates as a public charity under section 501(c) (3) of the internal revenue code and, accordingly, is exempt from federal and state income taxes and the excise tax which applies to certain foundations. However, the foundation is subject to income tax on any unrelated business taxable income. Since the foundation had no unrelated business income for the year ended december 31, 2014, no provision for income taxes is included in the accompanying financial statements. The foundation files form 990, return of organization exempt from income tax, in the u.s. Federal jurisdiction and the state of louisiana. The deadline to file the form 990 for the tax year ended december 31, 2014 has been extended until august 15, 2015. The foundation has not filed their 2014 form 990 as of the date these financial statements were available to be issued. Should the foundation's tax status be challenged in the future, the 2011, 2012, and 2013 tax years are open to examination by the irs. In july 2006, the financial accounting standards board (fasb) issued accounting for uncertainty in income taxes, which clarifies the accounting and disclosure for uncertain tax positions. This interpretation requires companies to use a prescribed model for assessing the financial statement recognition and measurement of all tax positions taken or expected to be taken in tax returns. The foundation applies a "more-likely-than-not" recognition threshold for all tax uncertainties. This approach only allows the recognition of those tax benefits that have a greater than fifty percent likelihood of being sustained upon examination by the taxing authorities. Management has evaluated the foundation's tax positions and concluded the foundation had taken no uncertain tax positions that require recognition or disclosure in the financial statements.

Schedule D, Page 4, Part XII, Line 4B

Book / tax depreciation difference 20,474

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