Civic Intelligence

Southern University System Foundation

990 • Fiscal year 2022 • EIN 23-7052911

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 14, 2023

598 Harding BoulevardBaton Rouge, LA 70807

(225) 771-3911

Siviq Scores

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

Liabilities / Assets

81st percentile

0.65x

Higher debt load relative to assets than 81% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Liabilities / Revenue

86th percentile

2.32x

Higher debt load relative to revenue than 86% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Net Margin

79th percentile

28%

Higher net margin than 79% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Top Officer Pay

28th percentile

$236,020

Higher top officer pay than 28% of similar nonprofits.

Top officer pay equals 1.4% of source-year revenue.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Asset Growth

61st percentile

2.7%

Faster asset growth than 61% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2021 to 2022

Revenue Growth

81st percentile

29%

Faster revenue growth than 81% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2021 to 2022

Assets

Up

$60,930,166

Up $1,588,927 (+2.7%) from 2021

Net Assets

Up

$21,391,021

Up $4,019,910 (+23%) from 2021

Liabilities

Down

$39,539,145

Down $2,430,983 (-5.8%) from 2021

Revenue

Up

$17,078,446

Up $3,869,104 (+29%) from 2021

Expenses

Up

$12,374,923

Up $4,522,053 (+58%) from 2021

Net Income

Down

$4,703,523

Down $652,949 (-12%) from 2021

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

2022

Assets$60,930,166
Liabilities$39,539,145
Net Assets$21,391,021

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

2022

Revenue$17,078,446
Expenses$12,374,923
Net Income$4,703,523
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 14, 2023
Return Version
2022v5.0
Gross Receipts
$17,078,446
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$20,545,000$19,676,664▼ $868,336
Investments in Publicly Traded Securities$21,573,229$19,121,702▼ $2,451,527
Land, Buildings, and Equipment, Net$8,037,567$7,872,223▼ $165,344
Cash and Non-Interest-Bearing Accounts$6,107,247$7,584,530▲ $1,477,283
Pledges and Grants Receivable$2,076,780$5,229,514▲ $3,152,734
Prepaid Expenses and Deferred Charges$780,987$742,334▼ $38,653
Other Notes and Loans Receivable, Net$215,965$698,736▲ $482,771
Intangible Assets$4,464$4,463▼ $1
Total Assets$59,341,239$60,930,166▲ $1,588,927
Liabilities
Tax Exempt Bond Liabilities$25,121,091$25,743,949▲ $622,858
Grants Payable$14,180,317$11,988,350▼ $2,191,967
Unsecured Notes Loans Payable$1,677,931$910,206▼ $767,725
Accounts Payable and Accrued Expenses$925,696$831,596▼ $94,100
Deferred Revenue$61,385$61,385→ $0
Other Liabilities$3,708$3,659▼ $49
Total Liabilities$41,970,128$39,539,145▼ $2,430,983
Net Assets / Fund Balance
Net Assets With Donor Restrictions$11,274,329$18,072,420▲ $6,798,091
Net Assets Without Donor Restrictions$6,096,782$3,318,601▼ $2,778,181
Total Net Assets Fund Balance$17,371,111$21,391,021▲ $4,019,910
Total Liabilities and Net Assets / Fund Balance$59,341,239$60,930,166▲ $1,588,927

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,200,035$743,924$6,943,959
Land$1,292,144-$1,292,144

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$21,573,229--$2,451,527$19,121,702
2021$17,534,178$636,666▲ $1,993,964$813,691$19,351,117
2020$15,279,973$833,944▲ $2,376,358$955,557$17,534,718
2019$9,768,211$6,990,352▲ $2,073,820$3,552,410$15,279,973
2018$8,058,155-▼ $556,944$309,530$7,191,681
Compensation and Service Providers

Employees

NameTitleBaseOtherTotal
Alfred E HarrellCEO/ Secreta$229,520$6,500$236,020
Alfred E HarrellCEO/ Secretary$229,520$6,500$236,020

Board Members and Trustees

NameTitle
Fred BanksChairman
Dr Ray BeltonPresident
Ms Allison J YoungVice Chairwo
Anna JonesBoard Member
Attorney Deidre D RobertBoard Member
Attorney Domoine D RutledgeBoard Member
Dexter HendersonBoard Member
Gary WilliamsBoard Member
Henry BaptisteBoard Member
Irving MatthewsBoard Member
Joseph M StewartBoard Member
Juliena K HebertBoard Member
Kelvin ConeyBoard Member
Linda JohnsonBoard Member
Louis C Henry JrBoard Member
Martin W JohnsonBoard Member
Rev James E Brown SrBoard Member
Roderick L HillBoard Member
Wilbert Ferdinand JrBoard Member
Attorney Preston CastilleLegal Counse
Judge Luke LavergneTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$15,626,075
Program Service Revenue
$2,125,713
Investment Income
$-673,342
Other Revenue
$0
All Other Contributions
$262,189
Change in Net Assets
$4,703,523

Audited Revenue Reconciliation

Revenue per Audited Statements
$17,078,446
Revenue Not Reported on Form 990
$-395,083
Total Revenue per Audited Statements
$16,683,363
Total Revenue per Form 990
$17,078,446
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$11,852,139
Salaries, Compensation, and Employee Benefits$522,784
Total Fundraising Expense$460,141
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Office Expenses$960,758$424,921-$1,385,679
Interest$1,275,705--$1,275,705
Fees for Services Other$690,654$561,716-$1,252,370
Payment Travel Entrtnmnt Publicly Ofcl$488,330$85,469-$573,799
All Other Expenses$357,395$110,381-$467,776
Fees for Service Investment Mgmnt Fees--$460,141$460,141
Other Salaries and Wages$373,062$30,488-$403,550
Other Expenses$9,750$291,355-$301,105
Depreciation Depletion-$292,149-$292,149
Information Technology$207,877$60,364-$268,241
Conferences and Meetings$113,871$108,636-$222,507
Advertising$40,035$148,503-$188,538
Travel$128,660$47,791-$176,451
Insurance$43,262$32,945-$76,207
Other Employee Benefits$68,525$3,150-$71,675
Pension Plan Contributions-$47,559-$47,559
Total Functional Expenses$6,783,397$5,131,385$460,141$12,374,923

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$12,663,453
Expenses per Audited Statements$12,374,923
Total Expenses per Form 990$12,374,923
Expenses Not Reported on Form 990$288,530
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 SystemUniv. BoardRentNo-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Rental Deposits$3,659

Bond Issues

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

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
Corrective action procedures
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 35% controlled entity
Yes
Business relationship with family members
No
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
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 15A

The board reviews the ceo salary annually

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
598 HARDING BOULEVARD, BATON ROUGE, LA 70807

Signing Officer

Name
Alfred E Harrell
Title
CEO/ Secretary
Phone
2257713911
Signed
2023-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Ray Belton
Formed
1970
Legal Domicile
La
Voting Board Members
23
Independent Board Members
23
Employees
2

Preparer

Firm
Bruno & Tervalon Llp
Address
4298 ELYSIAN FIELDS AVE A, NEW ORLEANS, LA 70122-3800
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, Page 2, Part III, Line 4D

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 565,162 561,716 0 bad debt 125,492 0 0 total 690,654 561,716 0

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