Civic Intelligence

Radford University Foundation Inc.

990 • Fiscal year 2021 • EIN 23-7219782

Jul 01, 2020 to Jun 30, 2021 • Filed on May 02, 2022

6226 University Park DrRadford, VA 24141

(540) 831-6714

Siviq Scores

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

Liabilities / Assets

38th percentile

0.17x

Higher debt load relative to assets than 38% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Liabilities / Revenue

80th percentile

1.55x

Higher debt load relative to revenue than 80% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Net Margin

89th percentile

54%

Higher net margin than 89% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Top Officer Pay

9th percentile

$171,473

Higher top officer pay than 9% of similar nonprofits.

Top officer pay equals 1.3% of source-year revenue.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Asset Growth

22nd percentile

2.3%

Faster asset growth than 22% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2020 to 2021

Revenue Growth

7th percentile

-24%

Faster revenue growth than 7% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2020 to 2021

Assets

Up

$122,375,748

Up $2,733,596 (+2.3%) from 2020

Net Assets

Up

$102,031,255

Up $17,085,822 (+20%) from 2020

Liabilities

Down

$20,344,493

Down $14,352,226 (-41%) from 2020

Revenue

Down

$13,141,084

Down $4,069,572 (-24%) from 2020

Expenses

Up

$6,079,953

Up $1,266,533 (+26%) from 2020

Net Income

Down

$7,061,131

Down $5,336,105 (-43%) from 2020

Historical Trend

Balance Sheet Trend

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

$150M$100M$50M$0Assets 2010: $44,484,811Liabilities 2010: $1,607,991Net Assets 2010: $42,876,8202010Assets 2015: $79,177,549Liabilities 2015: $2,508,779Net Assets 2015: $76,668,7702015Assets 2016: $70,617,955Liabilities 2016: $3,195,163Net Assets 2016: $67,422,7922016Assets 2017: $76,600,777Liabilities 2017: $2,433,461Net Assets 2017: $74,167,3162017Assets 2018: $118,217,129Liabilities 2018: $35,386,855Net Assets 2018: $82,830,2742018Assets 2019: $120,563,639Liabilities 2019: $35,222,441Net Assets 2019: $85,341,1982019Assets 2020: $119,642,152Liabilities 2020: $34,696,719Net Assets 2020: $84,945,4332020Assets 2021: $122,375,748Liabilities 2021: $20,344,493Net Assets 2021: $102,031,2552021Assets 2022: $106,307,354Liabilities 2022: $15,317,395Net Assets 2022: $90,989,9592022Assets 2023: $110,551,729Liabilities 2023: $15,360,277Net Assets 2023: $95,191,4522023Assets 2024: $118,722,772Liabilities 2024: $13,965,384Net Assets 2024: $104,757,3882024

Highlighted filing

2021

Assets$122,375,748
Liabilities$20,344,493
Net Assets$102,031,255

Operations Trend

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

$20M$15M$10M$5.0M$0-$5.0MExpenses 2010: $3,733,6952010Revenue 2015: $7,269,967Expenses 2015: $4,358,491Net Income 2015: $2,911,4762015Revenue 2016: $4,448,067Expenses 2016: $4,525,798Net Income 2016: -$77,7312016Revenue 2017: $9,075,017Expenses 2017: $4,916,791Net Income 2017: $4,158,2262017Revenue 2018: $14,346,991Expenses 2018: $4,802,726Net Income 2018: $9,544,2652018Revenue 2019: $9,989,704Expenses 2019: $4,773,671Net Income 2019: $5,216,0332019Revenue 2020: $17,210,656Expenses 2020: $4,813,420Net Income 2020: $12,397,2362020Revenue 2021: $13,141,084Expenses 2021: $6,079,953Net Income 2021: $7,061,1312021Revenue 2022: $8,860,499Expenses 2022: $5,647,750Net Income 2022: $3,212,7492022Revenue 2023: $8,055,218Expenses 2023: $6,011,339Net Income 2023: $2,043,8792023Revenue 2024: $7,152,914Expenses 2024: $6,059,759Net Income 2024: $1,093,1552024

Highlighted filing

2021

Revenue$13,141,084
Expenses$6,079,953
Net Income$7,061,131
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 2, 2022
Return Version
2020v4.2
Gross Receipts
$36,961,155
Mission and Program Overview

Mission

To support radford university

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$40,412,610$68,049,013▲ $27,636,403
Land, Buildings, and Equipment, Net$41,511,822$22,655,872▼ $18,855,950
Investments Other Securities$25,527,036$15,491,304▼ $10,035,732
Pledges and Grants Receivable$6,248,032$5,223,765▼ $1,024,267
Cash and Non-Interest-Bearing Accounts$1,440,168$1,437,256▼ $2,912
Accounts Receivable$391,729$352,754▼ $38,975
Other Notes and Loans Receivable, Net$470,295$179,852▼ $290,443
Prepaid Expenses and Deferred Charges$72,678$133,156▲ $60,478
Total Assets$119,642,152$122,375,748▲ $2,733,596
Other Assets Total$3,567,782$8,852,776▲ $5,284,994
Liabilities
Mortgage Notes Payable Secured by Investment Property$33,618,237$19,654,514▼ $13,963,723
Other Liabilities$630,756$522,669▼ $108,087
Accounts Payable and Accrued Expenses$447,726$167,310▼ $280,416
Total Liabilities$34,696,719$20,344,493▼ $14,352,226
Net Assets / Fund Balance
Net Assets With Donor Restrictions$69,561,223$84,198,990▲ $14,637,767
Net Assets Without Donor Restrictions$15,384,210$17,832,265▲ $2,448,055
Total Net Assets Fund Balance$84,945,433$102,031,255▲ $17,085,822
Total Liabilities and Net Assets / Fund Balance$119,642,152$122,375,748▲ $2,733,596

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$19,508,859$3,113,280$22,622,139
Land$2,808,278-$2,808,278
Leasehold Improvements$284,310$253,149$537,459
Equipment$37,720$249,988$287,708
Other Land Buildings$16,705-$16,705
Other Assets Org$5,161,787--
Other Securities$15,491,304--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$58,651,450$1,724,153▲ $14,411,565$1,953,795$72,833,373
2019$60,176,413$1,456,948▼ $28,018$2,953,893$58,651,450
2018$56,743,711$3,238,187▲ $2,340,137$2,145,622$60,176,413
2017$50,346,509$5,540,458▲ $2,812,646$1,955,902$56,743,711
2016$44,934,000$2,736,625▲ $4,973,949$2,298,065$50,346,509
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
John F Cox JrChief Executive OfficerFT$162,889$8,584$171,473
Derek NealChief Financial OfficerFT$113,316$6,323$119,639

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Fieldturf USA INCBaseball Field To Turf Conversion175 N INDUSTRIAL BLVD NE, Calhoun, GA 30701$975,092
Jones Lang Lasalle AmericasHotel Consultant95661 TREASURY CENTER DRIVE, Chicago, IL 60694-5661$328,098
Empire Salvage & RecyclingDemolition Of Real EstatePO BOX 300, Bluefield, WV 24701$120,244
Dh Griffin Wrecking CompanyDemolition Of Real Estate819 THIRD STREET, Vinton, VA 24179$110,997
Revenue and Support

Revenue Composition

Contributions and Grants
$5,332,768
Program Service Revenue
$134,550
Investment Income
$7,499,254
Other Revenue
$174,512
All Other Contributions
$5,332,768
Change in Net Assets
$7,061,131

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
Securities Publicly Traded22$1,304,593Fair Market Value (FMV)
Other Non Cash Contri Table10$23,258Fair Market Value (FMV)
Other Non Cash Contri Table1$18,000Fair Market Value (FMV)
Works of Art2$13,475Fair Market Value (FMV)
Other Non Cash Contri Table2$7,335Cost
Other Non Cash Contri Table5$791Cost
Other Non Cash Contri Table1$55Cost
Total Noncash Contributions43$1,367,507-

Audited Revenue Reconciliation

Revenue per Audited Statements
$12,737,140
Revenue Not Reported on Financial Statements
$403,944
Revenue Not Reported on Form 990
$14,094,934
Other Revenue Adjustments
$37,450
Total Revenue per Audited Statements
$26,832,074
Total Revenue per Form 990
$13,141,084
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$4,505,453
Other Expenses$1,137,664
Salaries, Compensation, and Employee Benefits$436,836
Total Fundraising Expense$77,271
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$2,361,136--$2,361,136
Grants to Domestic Orgs$2,144,317--$2,144,317
Fees for Service Investment Mgmnt Fees$366,494--$366,494
Current Officers, Directors, Trustees, and Key Employees-$353,826-$353,826
Conferences and Meetings$175,947$3,338$43,343$222,628
Fees for Services Management$179,742$2,735$5,405$187,882
Other Employee Benefits-$46,578-$46,578
Occupancy$12,041$33,183-$45,224
Insurance$3,181$34,506-$37,687
Payroll Taxes-$36,432-$36,432
Travel$26,840-$4,816$31,656
Other Expenses$809$3,093$20,593$24,495
Fees for Services Accounting-$23,200-$23,200
Fees for Services Legal$2,612$20,555-$23,167
Advertising$3,043$7,840-$10,883
Interest$5,288--$5,288
Office Expenses$1,120$3,948$17$5,085
All Other Expenses$600--$600
Total Functional Expenses$5,411,088$591,594$77,271$6,079,953

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$9,746,252
Total Expenses per Form 990$6,079,953
Expenses per Audited Statements$5,676,009
Expenses Not Reported on Form 990$4,070,243
Expenses Not Reported on Financial Statements$403,944
Other Expense Adjustments$37,450
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Radford UniversityRadford, VA-Capital Improvements to Radford University Facilities$1,111,953
Radford UniversityRadford, VA-Salary Support$808,684
Radford UniversityRadford, VA-Other Operational Support$223,680
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Annuity Obligations$224,208
Unitrust Obligations$170,884
Deferred Rental Income$127,577
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 35% controlled entity
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
Yes
Other officer compensation reviewed
Yes
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, Part VI, Section A, Line 7A

The board of visitors of radford university has the right to appoint one member to the foundation board. Also, radford university foundation real estate management llc has the right to appoint one member to the foundation board.

Form 990, Part VI, Section B, Line 11B

Form 990 is generally reviewed by the audit committee.

Form 990, Part VI, Section B, Line 12C

Each board member and employee must sign the conflict of interest disclosure form on an annual basis. The board shall determine by majority vote if a conflict exists. If a conflict is deemed to exist, the person having the conflict shall not participate, attend, vote on, or use his or her personal influence in connection with the conflict and the foundation.

Form 990, Part VI, Section B, Line 15

The executive committee reviews the compensation package for the chief executive officer on an annual basis. The chief executive officer consults with the executive committee on compensation for the chief financial officer, including any retirement stipend.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, policies, consolidated audit report, and form 990 available to the general public via their website.

Filing and Contact Details

Filer

Filer Name
Radford University Foundation Inc
EIN
23-7219782
Phone
5408316714
Address
6226 UNIVERSITY PARK DR, RADFORD, VA 24141

Signing Officer

Name
John F Cox Jr
Title
Chief Executive Officer
Phone
5408316714
Signed
2022-05-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John F Cox Jr
Formed
1972
Legal Domicile
Va
Voting Board Members
18
Independent Board Members
17
Employees
7
Volunteers
50

Preparer

Firm
Brown Edwards & Company Llp
Address
105 ARBOR DR NE 3RD FLOOR, CHRISTIANSBURG, VA 24073
Preparer
Mark Woolwine
Phone
5404433606
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The process has not changed from the prior year.

Financial Statement Notes

PART III, LINE 4:

The foundation maintains a permanent art collection for display as part of and in support of the university's college of visual and performing arts.

PART V, LINE 4:

The foundation plans to use endowment funds for the benefit of radford university.

PART X, LINE 2:

Radford university foundation, inc. Is exempt from federal and state income tax under the provisions of section 501(c)(3) of the internal revenue code (irc) and the tax statutes of the commonwealth of virginia. However, when applicable, any income from certain activities not directly related to the foundation's tax-exempt purpose would be subject to taxation as unrelated business income. The foundation has determined that they do not have any material unrecognized tax benefits or obligations as of june 30, 2021 and 2020.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Rental expenses netted with rental income 2,566,317.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

OTHER 37,450.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Rental expenses netted with rental income 2,566,317.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

OTHER 37,450.

Raw XML AppendixShowing 400 of 1,045 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/Form990PartVIISectionAGrp/PersonNm4BRIAN HEMPHILL RU PRESIDENT
IRS990/Form990PartVIISectionAGrp/PersonNm5CHAD REED RU CFO VP
IRS990/Form990PartVIISectionAGrp/PersonNm6LYN LEPRE RU PROVOST VP
IRS990/Form990PartVIISectionAGrp/PersonNm7WENDY LOWERY RU VP ADVANCEMENT
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IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
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