Civic Intelligence

Frostburg State University Foundation

990 • Fiscal year 2015 • EIN 23-7120883

Jul 01, 2014 to Jun 30, 2015 • Filed on Sep 15, 2015

Organization ProfileWWW.FROSTBURG.EDU/FOUNDATION

Refreshing map…

101 Braddock RoadFrostburg, MD 21532-2303

(301) 687-4161

Siviq Scores

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

Liabilities / Assets

9th percentile

0.00x

Higher debt load relative to assets than 9% of similar nonprofits.

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

Liabilities / Revenue

10th percentile

0.02x

Higher debt load relative to revenue than 10% of similar nonprofits.

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

Net Margin

79th percentile

21%

Higher net margin than 79% of similar nonprofits.

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

Top Officer Pay

12th percentile

$0

Higher top officer pay than 12% of similar nonprofits.

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

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

Asset Growth

61st percentile

3.9%

Faster asset growth than 61% of similar nonprofits.

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

Revenue Growth

13th percentile

-22%

Faster revenue growth than 13% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets9th percentile

Assets

Up

$20,676,999

Up $773,318 (+3.9%) from 2014

Net Assets

Up

$20,609,881

Up $771,460 (+3.9%) from 2014

Liabilities

Up

$67,118

Up $1,858 (+2.8%) from 2014

Revenue And Expenses
Liabilities / Revenue10th percentileNet Margin79th percentile

Revenue

Down

$3,075,164

Down $865,938 (-22%) from 2014

Expenses

Up

$2,440,750

Up $209,870 (+9.4%) from 2014

Net Income

Down

$634,414

Down $1,075,808 (-63%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth61st percentile

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

$60M$40M$20M$0Assets 2011: $16,971,141Liabilities 2011: $194,161Net Assets 2011: $16,776,9802011Assets 2012: $16,818,591Liabilities 2012: $218,441Net Assets 2012: $16,600,1502012Assets 2013: $17,725,481Liabilities 2013: $48,992Net Assets 2013: $17,676,4892013Assets 2014: $19,903,681Liabilities 2014: $65,260Net Assets 2014: $19,838,4212014Assets 2015: $20,676,999Liabilities 2015: $67,118Net Assets 2015: $20,609,8812015Assets 2016: $22,726,455Liabilities 2016: $52,599Net Assets 2016: $22,673,8562016Assets 2017: $25,341,368Liabilities 2017: $75,760Net Assets 2017: $25,265,6082017Assets 2019: $30,192,761Liabilities 2019: $55,447Net Assets 2019: $30,137,3142019Assets 2020: $29,987,823Liabilities 2020: $67,392Net Assets 2020: $29,920,4312020Assets 2021: $38,760,234Liabilities 2021: $43,256Net Assets 2021: $38,716,9782021Assets 2022: $41,155,383Liabilities 2022: $46,194Net Assets 2022: $41,109,1892022Assets 2025: $53,337,822Liabilities 2025: $45,965Net Assets 2025: $53,291,8572025

Highlighted filing

2015

Assets$20,676,999
Liabilities$67,118
Net Assets$20,609,881
Open 2015 Filing

Operations Trend

Revenue Growth13th percentile

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

$15M$10M$5.0M$0Expenses 2011: $2,188,8572011Expenses 2012: $2,297,0642012Expenses 2013: $2,182,8262013Revenue 2014: $3,941,102Expenses 2014: $2,230,880Net Income 2014: $1,710,2222014Revenue 2015: $3,075,164Expenses 2015: $2,440,750Net Income 2015: $634,4142015Revenue 2016: $5,422,678Expenses 2016: $2,477,941Net Income 2016: $2,944,7372016Revenue 2017: $4,374,007Expenses 2017: $2,486,679Net Income 2017: $1,887,3282017Revenue 2019: $4,783,667Expenses 2019: $2,514,518Net Income 2019: $2,269,1492019Revenue 2020: $3,716,008Expenses 2020: $2,404,114Net Income 2020: $1,311,8942020Revenue 2021: $4,899,555Expenses 2021: $2,038,622Net Income 2021: $2,860,9332021Revenue 2022: $7,754,148Expenses 2022: $2,492,349Net Income 2022: $5,261,7992022Revenue 2025: $10,492,987Expenses 2025: $3,502,798Net Income 2025: $6,990,1892025

Highlighted filing

2015

Revenue$3,075,164
Expenses$2,440,750
Net Income$634,414
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Sep 15, 2015
Return Version
2014v5.0
Gross Receipts
$3,080,164
Mission and Program Overview

Mission

To foster, encourage, and promote the growth, progress, and general welfare of frostburg state university through advocacy, fundraising, investment management and stewardship.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$18,047,240$19,186,879▲ $1,139,639
Pledges and Grants Receivable$401,543$444,976▲ $43,433
Cash and Non-Interest-Bearing Accounts$806,056$381,023▼ $425,033
Land, Buildings, and Equipment, Net$307,318$296,651▼ $10,667
Other Notes and Loans Receivable, Net$39,746$42,099▲ $2,353
Prepaid Expenses and Deferred Charges$17,905$21,384▲ $3,479
Accounts Receivable$7,823$12,787▲ $4,964
Total Assets$19,903,681$20,676,999▲ $773,318
Other Assets Total$276,050$291,200▲ $15,150
Liabilities
Deferred Revenue$39,746$44,809▲ $5,063
Accounts Payable and Accrued Expenses$25,514$22,309▼ $3,205
Total Liabilities$65,260$67,118▲ $1,858
Net Assets / Fund Balance
Permanently Rstr Net Assets$17,104,527$17,712,478▲ $607,951
Temporarily Rstr Net Assets$1,932,341$2,243,126▲ $310,785
Unrestricted Net Assets$801,553$654,277▼ $147,276
Total Net Assets Fund Balance$19,838,421$20,609,881▲ $771,460
Total Liabilities and Net Assets / Fund Balance$19,903,681$20,676,999▲ $773,318

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$296,651$6,435$303,086

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$17,424,720$1,191,132▲ $840,024$471,438$18,561,268
2013$15,734,623$525,205▲ $1,969,445$423,098$17,424,720
2012$14,923,610$382,281▲ $1,141,084$389,356$15,734,623
2011$14,721,746$599,787▲ $201,243$404,908$14,708,446
2010$12,227,291$921,932▲ $2,320,511$346,426$14,721,746
Compensation and Service Providers
Top Officer Pay12th percentile

Board Members and Trustees

NameTitle
Mary E ClapsaddlePresident
Alfred E MartinBoard of Director
Anthony P ZookBoard of Director
Brian a MattinglyBoard of Director
Diane C RichardsonBoard of Director
Donnie WoodardBoard of Director
Dr Mary Kay FinanBoard of Director
Edward G Boehm JrBoard of Director
Jason SweitzerBoard of Director
John H BalchBoard of Director
Laron LockeBoard of Director
Larry D BoggsBoard of Director
Lawrence MckenzieBoard of Director
Mary MumperBoard of Director
Michael a JoyBoard of Director
Ralph E JordanBoard of Director
Robin Hager-sineBoard of Director
Russell W YounkersBoard of Director
Sandra P DayBoard of Director
Thomas N CreamerBoard of Director
John T Short JrExcutive Director
Gladys W FahertyAt Large
Jeffrey P FeganAt Large
Marion S LeonardAt Large
Quincy M CrawfordImmeditate P
Lynn FikeSecretary
Sandra K SavilleTreasurer
Kenneth a Oldham JrVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$1,818,160
Program Service Revenue
$415,851
Investment Income
$747,400
Other Revenue
$93,753
All Other Contributions
$1,818,160
Change in Net Assets
$634,414

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Books and Publications-$261,077Various
Other Non Cash Contri Table3$7,700Various
Clothing and Household Goods-$2,500Various
Other Non Cash Contri Table11$1,707Various
Food Inventory3$235Various
Works of Art1$100Various
Total Noncash Contributions18$273,319-

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,075,164
Revenue Not Reported on Form 990
$137,046
Total Revenue per Audited Statements
$3,212,210
Total Revenue per Form 990
$3,075,164
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,873,527
Grants and Similar Amounts Paid$460,840
Salaries, Compensation, and Employee Benefits$106,383
Total Fundraising Expense$22,233
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$460,840--$460,840
All Other Expenses$355,551$85,835$5,586$446,972
Other Expenses$78,860$43,349$758$122,967
Other Salaries and Wages$2,070$104,313-$106,383
Travel$36,885$1,633$2,640$41,158
Insurance$3,787$29,932-$33,719
Office Expenses$5,937$9,033$2,647$17,617
Depreciation Depletion-$5,666-$5,666
Advertising$2,150$175-$2,325
Conferences and Meetings$423--$423
Total Functional Expenses$2,116,962$301,555$22,233$2,440,750

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,440,750
Total Expenses per Audited Statements$2,440,750
Total Expenses per Form 990$2,440,750
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Frostburg State UniversityFrostburg, MDGovEducational Assistan$187,521
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
Governance and Compliance

Governance Checklist

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

“At its annual meeting, the board reviews and approves form 990 tax return before it is filed.”

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

“Completed copy by each board member on file and will be reviewed and signed each year at board retreat.”

Form 990, Page 6, Part VI, Line 15B

“Annual review and evaluation. Pay adjustments are in keeping with state of md. Per the approval of the executive committee.”

Form 990, Page 6, Part VI, Line 19

“Governing documents - available upon request conflict of interest statements - available upon request only financial statements - available upon request and copy on file in the fsu ort library form 990 - available upon request and copy on file in the fsu ort library”

Filing and Contact Details

Filer

Filer Name
Frostburg State University Foundat
EIN
23-7120883
Phone
3016874161
Address
101 BRADDOCK ROAD, FROSTBURG, MD 21532-2303

Signing Officer

Name
Mr John T Short Jr
Title
Executive Director
Phone
3016874161
Signed
2015-09-15
Discuss with paid preparer
Yes

Organization Details

Formed
1971
Legal Domicile
Md
Voting Board Members
28
Independent Board Members
28
Employees
5
Volunteers
29

Preparer

Firm
Turnbull Hoover & Kahl Pa
Address
13179 GARRETT HIGHWAY, OAKLAND, MD 21550
Preparer
Bernard B Kahl CPA
Phone
3013342820
Supplemental Narrative

Additional Explanations

Form 990

“Part viii and part ix difference in-kind is shown on schedule i”

Form 990, Page 2, Part III, Line 4D

“Expenses including grants of endowment funds 917,775 69,225 pass through accounts 421,063 21,010 other 604 -0- total other 1,339,442 90,235”

Form 990, Part IX, Line 24E

“Supplies 83,391 10,273 541 bad debt pledges 58,621 24,088 0 rentals 82,542 0 0 service fees 23,573 3,810 1,059 equipment purchase 18,222 8,029 0 student aid/work study 19,510 3,593 2,976 memberships 18,740 3,466 34 public relations & gifts 13,896 4,340 334 grant expense 0 16,037 500 telephone & utilities 12,450 2,569 56 credit card fees 8,147 2,056 0 trophies/awards 3,256 4,677 9 contributions 7,140 0 0 repairs & maintenance 5,579 281 0 state registrations 0 2,490 0 flowers 484 126 77”

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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/TitleTxt8IMMEDITATE P
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IRS990/Form990PartVIISectionAGrp/TitleTxt17AT LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt18BOARD OF DIR
IRS990/Form990PartVIISectionAGrp/TitleTxt19BOARD OF DIR
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IRS990/Form990PartVIISectionAGrp/TitleTxt23BOARD OF DIR
IRS990/Form990PartVIISectionAGrp/TitleTxt24BOARD OF DIR
IRS990/Form990PartVIISectionAGrp/TitleTxt25BOARD OF DIR
IRS990/Form990PartVIISectionAGrp/TitleTxt26BOARD OF DIR
IRS990/Form990PartVIISectionAGrp/TitleTxt27BOARD OF DIR
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Document Assets

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Filings

Displayed year

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

Open filing
Assets
$20,676,999
Liabilities
$67,118
Net assets
$20,609,881
Revenue
$3,075,164
Expenses
$2,440,750
Net income
$634,414
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$53.3$0.05$53.3$10.5$3.50$6.99
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$41.2$0.05$41.1$7.75$2.49$5.26
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$38.8$0.04$38.7$4.90$2.04$2.86
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$30.0$0.07$29.9$3.72$2.40$1.31
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$30.2$0.06$30.1$4.78$2.51$2.27
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.3$0.08$25.3$4.37$2.49$1.89
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$22.7$0.05$22.7$5.42$2.48$2.94
2015Detailed filing. Detailed filing data is available for this year.$20.7$0.07$20.6$3.08$2.44$0.63
2014Detailed filing. Detailed filing data is available for this year.$19.9$0.07$19.8$3.94$2.23$1.71
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.7$0.05$17.7$2.18
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.8$0.22$16.6$2.30
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.0$0.19$16.8$2.19