Civic Intelligence

Southern University System Foundation

990 • Fiscal year 2021 • EIN 23-7052911

Jan 01, 2021 to Dec 31, 2021 • Filed on Oct 31, 2022

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

84th percentile

0.71x

Higher debt load relative to assets than 84% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Liabilities / Revenue

90th percentile

3.18x

Higher debt load relative to revenue than 90% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Net Margin

81st percentile

41%

Higher net margin than 81% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Top Officer Pay

30th percentile

$236,020

Higher top officer pay than 30% of similar nonprofits.

Top officer pay equals 1.8% of source-year revenue.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Asset Growth

40th percentile

8.4%

Faster asset growth than 40% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2019 to 2021

Revenue Growth

42nd percentile

7.2%

Faster revenue growth than 42% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2019 to 2021

Assets

Up

$59,341,239

Up $8,817,941 (+17%) from 2019

Net Assets

Up

$17,371,111

Up $8,184,823 (+89%) from 2019

Liabilities

Up

$41,970,128

Up $633,118 (+1.5%) from 2019

Revenue

Up

$13,209,342

Up $1,710,827 (+15%) from 2019

Expenses

Down

$7,852,870

Down $3,745,186 (-32%) from 2019

Net Income

Up

$5,356,472

Up $5,456,013 (+5481%) from 2019

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

2021

Assets$59,341,239
Liabilities$41,970,128
Net Assets$17,371,111

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

2021

Revenue$13,209,342
Expenses$7,852,870
Net Income$5,356,472
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Oct 31, 2022
Return Version
2021v4.0
Gross Receipts
$13,623,894
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
Investments in Publicly Traded Securities$17,534,718$21,573,229▲ $4,038,511
Accounts Receivable$21,325,000$20,545,000▼ $780,000
Land, Buildings, and Equipment, Net$8,330,086$8,037,567▼ $292,519
Cash and Non-Interest-Bearing Accounts$4,153,822$6,107,247▲ $1,953,425
Pledges and Grants Receivable$1,753,216$2,076,780▲ $323,564
Prepaid Expenses and Deferred Charges$602,078$780,987▲ $178,909
Other Notes and Loans Receivable, Net$55,697$215,965▲ $160,268
Intangible Assets$4,464$4,464→ $0
Total Assets$53,759,081$59,341,239▲ $5,582,158
Liabilities
Tax Exempt Bond Liabilities$22,970,559$25,121,091▲ $2,150,532
Grants Payable$13,192,795$14,180,317▲ $987,522
Mortgage Notes Payable Secured by Investment Property$3,271,611--
Unsecured Notes Loans Payable$1,650,742$1,677,931▲ $27,189
Accounts Payable and Accrued Expenses$592,937$925,696▲ $332,759
Deferred Revenue$61,385$61,385→ $0
Other Liabilities$4,413$3,708▼ $705
Total Liabilities$41,744,442$41,970,128▲ $225,686
Net Assets / Fund Balance
Net Assets With Donor Restrictions$8,275,661$11,274,329▲ $2,998,668
Net Assets Without Donor Restrictions$3,738,978$6,096,782▲ $2,357,804
Total Net Assets Fund Balance$12,014,639$17,371,111▲ $5,356,472
Total Liabilities and Net Assets / Fund Balance$53,759,081$59,341,239▲ $5,582,158

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$2,106,462$3,499,798$5,606,260
Buildings$4,656,456$394,299$5,050,755
Land$1,215,840-$1,215,840
Leasehold Improvements$55,461$14,039$69,500
Equipment$3,348$41,804$45,152

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
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
2017$7,665,095$2,688,456▲ $194,279$192,055$10,355,755
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Alfred E HarrellCEO/ SecretaPT$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
$11,020,827
Program Service Revenue
$1,235,217
Investment Income
$710,731
Other Revenue
$242,567
Change in Net Assets
$5,356,472

Audited Revenue Reconciliation

Revenue per Audited Statements
$13,209,342
Total Revenue per Audited Statements
$13,209,342
Total Revenue per Form 990
$13,209,342
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$7,449,968
Salaries, Compensation, and Employee Benefits$402,902
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$541,545$637,361-$1,178,906
Interest$1,114,101--$1,114,101
Office Expenses$697,903$182,601-$880,504
All Other Expenses$204,645$98,686-$303,331
Depreciation Depletion-$293,519-$293,519
Payment Travel Entrtnmnt Publicly Ofcl$217,747$62,470-$280,217
Current Officers, Directors, Trustees, and Key Employees$223,020--$223,020
Advertising$21,783$197,624-$219,407
Information Technology$159,459$33,167-$192,626
Other Expenses$191,997$289,360-$191,997
Other Salaries and Wages$142,979$29,003-$171,982
Travel$129,706$11,371-$141,077
Insurance$72,764$32,945-$105,709
Conferences and Meetings$89,302$16,313-$105,615
Pension Plan Contributions-$7,900-$7,900
Total Functional Expenses$4,154,037$3,698,833$0$7,852,870

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$7,852,870
Total Expenses per Audited Statements$7,852,870
Total Expenses per Form 990$7,852,870
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$657,119
Fundraising Direct Expenses$414,552
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Bayou Classic$657,119$657,119$414,552$242,567
Total Events$657,119$657,119$414,552$242,567
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$3,708

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
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 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
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
2022-10-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Ray Belton
Formed
1970
Legal Domicile
La
Voting Board Members
22
Independent Board Members
22
Employees
2
Volunteers
22

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 541,545 637,361 0

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