Civic Intelligence

Clarion University Foundation Inc

990 • Fiscal year 2018 • EIN 25-1256915

Jul 01, 2017 to Jun 30, 2018 • Filed on Nov 02, 2018

840 Wood StreetClarion, PA 16214

(814) 393-1610

Siviq Scores

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

Liabilities / Assets

78th percentile

0.69x

Higher debt load relative to assets than 78% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2018

Liabilities / Revenue

98th percentile

19.19x

Higher debt load relative to revenue than 98% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2018

Net Margin

84th percentile

29%

Higher net margin than 84% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2018

Top Officer Pay

8th percentile

$174,234

Higher top officer pay than 8% of similar nonprofits.

Top officer pay equals 3.2% of source-year revenue.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2018

Asset Growth

32nd percentile

-0.4%

Faster asset growth than 32% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2017 to 2018

Revenue Growth

96th percentile

110%

Faster revenue growth than 96% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2017 to 2018

Assets

Down

$153,475,643

Down $627,898 (-0.4%) from 2017

Net Assets

Up

$47,393,006

Up $1,989,050 (+4.4%) from 2017

Liabilities

Down

$106,082,637

Down $2,616,948 (-2.4%) from 2017

Revenue

Up

$5,528,635

Up $2,899,010 (+110%) from 2017

Expenses

Up

$3,930,576

Up $325,799 (+9.0%) from 2017

Net Income

Up

$1,598,059

Up $2,573,211 (+264%) from 2017

Historical Trend

Balance Sheet Trend

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

$200M$150M$100M$50M$0Assets 2014: $153,911,187Liabilities 2014: $111,462,217Net Assets 2014: $42,448,9702014Assets 2015: $154,596,746Liabilities 2015: $111,646,966Net Assets 2015: $42,949,7802015Assets 2016: $154,521,683Liabilities 2016: $111,766,196Net Assets 2016: $42,755,4872016Assets 2017: $154,103,541Liabilities 2017: $108,699,585Net Assets 2017: $45,403,9562017Assets 2018: $153,475,643Liabilities 2018: $106,082,637Net Assets 2018: $47,393,0062018Assets 2019: $151,633,456Liabilities 2019: $103,896,633Net Assets 2019: $47,736,8232019Assets 2020: $157,988,258Liabilities 2020: $100,736,338Net Assets 2020: $57,251,9202020Assets 2021: $162,798,549Liabilities 2021: $97,223,147Net Assets 2021: $65,575,4022021Assets 2022: $152,611,961Liabilities 2022: $94,431,683Net Assets 2022: $58,180,2782022Assets 2023: $153,644,479Liabilities 2023: $91,647,138Net Assets 2023: $61,997,3412023Assets 2024: $155,028,911Liabilities 2024: $89,294,611Net Assets 2024: $65,734,3002024Assets 2025: $149,438,349Liabilities 2025: $82,557,410Net Assets 2025: $66,880,9392025

Highlighted filing

2018

Assets$153,475,643
Liabilities$106,082,637
Net Assets$47,393,006

Operations Trend

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

$20M$15M$10M$5.0M$0-$5.0MRevenue 2014: $5,119,829Expenses 2014: $3,201,827Net Income 2014: $1,918,0022014Revenue 2015: $4,624,663Expenses 2015: $3,120,672Net Income 2015: $1,503,9912015Revenue 2016: $4,523,405Expenses 2016: $3,491,869Net Income 2016: $1,031,5362016Revenue 2017: $2,629,625Expenses 2017: $3,604,777Net Income 2017: -$975,1522017Revenue 2018: $5,528,635Expenses 2018: $3,930,576Net Income 2018: $1,598,0592018Revenue 2019: $15,626,519Expenses 2019: $17,132,837Net Income 2019: -$1,506,3182019Revenue 2020: $13,995,401Expenses 2020: $14,299,260Net Income 2020: -$303,8592020Revenue 2021: $5,555,445Expenses 2021: $7,780,615Net Income 2021: -$2,225,1702021Revenue 2022: $6,384,820Expenses 2022: $7,803,464Net Income 2022: -$1,418,6442022Revenue 2023: $6,009,010Expenses 2023: $6,326,431Net Income 2023: -$317,4212023Revenue 2024: $5,975,115Expenses 2024: $6,477,417Net Income 2024: -$502,3022024Revenue 2025: $5,195,458Expenses 2025: $6,662,310Net Income 2025: -$1,466,8522025

Highlighted filing

2018

Revenue$5,528,635
Expenses$3,930,576
Net Income$1,598,059
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Nov 2, 2018
Return Version
2017v2.3
Gross Receipts
$27,679,053
Mission and Program Overview

Mission

To provide financial and other support deemed necessary and appropriate to strengthen the well being of pennsylvania western university - clarion (pennwest clarion) and the total pennwest clarion community.

To provide financial and other support deemed necessary and appropriate to strengthen the well being of clarion university and the total clarion university community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$101,852,351$98,430,594▼ $3,421,757
Investments in Publicly Traded Securities$47,558,364$49,915,215▲ $2,356,851
Savings and Temporary Cash Investments$2,392,512$3,491,578▲ $1,099,066
Pledges and Grants Receivable$835,898$835,813▼ $85
Investments Other Securities$625,000--
Accounts Receivable$341,452$325,060▼ $16,392
Prepaid Expenses and Deferred Charges$282,583$262,002▼ $20,581
Cash and Non-Interest-Bearing Accounts$50$50→ $0
Total Assets$154,103,541$153,475,643▼ $627,898
Other Assets Total$215,331$215,331→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$103,758,014$101,491,618▼ $2,266,396
Accounts Payable and Accrued Expenses$2,608,320$2,361,887▼ $246,433
Other Liabilities$2,164,509$2,085,621▼ $78,888
Deferred Revenue$168,742$143,511▼ $25,231
Total Liabilities$108,699,585$106,082,637▼ $2,616,948
Net Assets / Fund Balance
Permanently Rstr Net Assets$19,886,097$21,661,075▲ $1,774,978
Temporarily Rstr Net Assets$14,216,261$14,501,374▲ $285,113
Unrestricted Net Assets$11,301,598$11,230,557▼ $71,041
Total Net Assets Fund Balance$45,403,956$47,393,006▲ $1,989,050
Total Liabilities and Net Assets / Fund Balance$154,103,541$153,475,643▼ $627,898

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$93,491,277$20,683,594$114,174,871
Equipment$1,781,935$3,416,342$5,198,277
Land$3,157,382-$2,636,132

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$31,278,479$1,881,260▲ $2,593,001--
2016$27,679,100$1,002,189▲ $3,781,033-$31,278,479
2015$28,422,960$893,715▼ $519,527-$27,679,100
2014$27,902,463$565,829▲ $945,586-$28,422,960
2013$23,997,301$671,083▲ $4,069,209-$27,902,463
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Michael R KeeferChief Exec OFT$150,000$24,234$174,234
Michael R KeeferChief Exec Officer-$150,000$24,234$174,234

Board Members and Trustees

NameTitle
Jane FrancePresident
Mark R DemichPresident-el
Theresa EdderAlumni Board
Al LanderBoard Member
Carl D McmanamyBoard Member
Chris AllisonBoard Member
G Catherine PaloBoard Member
Lawrence P CirkaBoard Member
Maj Gen Peter J TalleriBoard Member
Paul PalmerBoard Member
Robert H LeeperBoard Member
Scott ShewellBoard Member
Susan a SlikeBoard Member
Howard ShreckengostTrustees Rep
Deb EverettAsst Sec/ex-
Max SmithCOO/CFO/ex-o
James M GeigerCUP VP /ex-o
Pete FacklerInt Pres/ex-
Carol TruscottSecretary
Frank a PiciTreasurer
Scott BurnsVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$2,780,499
Program Service Revenue
$175,524
Investment Income
$1,965,895
Other Revenue
$606,717
All Other Contributions
$2,480,048
Change in Net Assets
$1,598,059

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 Amount
Securities Publicly Traded1$62,436
Other Non Cash Contri Table1$1,143
Total Noncash Contributions2$63,579

Audited Revenue Reconciliation

Revenue per Audited Statements
$9,804,153
Revenue Not Reported on Financial Statements
$-4,275,518
Revenue Not Reported on Form 990
$390,991
Other Revenue Adjustments
$-4,275,518
Total Revenue per Audited Statements
$10,195,144
Total Revenue per Form 990
$5,528,635
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,384,008
Grants and Similar Amounts Paid$1,324,795
Other Expenses$1,221,773
Total Fundraising Expense$1,076,390
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$1,324,795--$1,324,795
Other Salaries and Wages$6,900$414,586$628,888$1,050,374
All Other Expenses$215,264$54,339$64,836$334,439
Other Employee Benefits-$113,620$143,638$257,258
Travel$35,296$528$57,620$93,444
Other Expenses$73,116$7,988$14,666$81,104
Payroll Taxes-$28,266$48,110$76,376
Conferences and Meetings-$12,140$38,553$50,693
Advertising$640$6,504$37,440$44,584
Depreciation Depletion$30,896$5,058$5,058$41,012
Fees for Services Accounting-$25,503-$25,503
Fees for Services Legal-$24,689-$24,689
Office Expenses-$15,334$8,783$24,117
Fees for Services Other-$514$20,175$20,689
Information Technology-$419$8,623$9,042
Insurance$180--$180
Total Functional Expenses$2,038,839$815,347$1,076,390$3,930,576

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$8,206,094
Expenses Not Reported on Form 990$4,275,518
Expenses per Audited Statements$3,930,576
Total Expenses per Form 990$3,930,576
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$103,850
Fundraising Gross Income$37,895
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournament$62,201$16,450$43,798$-27,348
Homecoming/othe$19,165$15,465$36,031$-20,566
Total Events$88,346$37,895$103,850$-65,955
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Annuities Payable$1,866,334
Unitrust Agreements$219,287
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 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, Page 6, Part VI, Line 2

Jane france chris allison president board member spouse

Form 990, Page 6, Part VI, Line 10B

The foundation employees direct and oversee all the activities of the clarion university alumni association. Although the foundation itself does not have any written policies and procedures that govern this affiliated organization, the alumni association does have its own by-laws by which it is governed.

Form 990, Page 6, Part VI, Line 11B

The 990 is reviewed by the chief executive officer and the coo/cfo of the organization before it is filed.

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

Board members are required to file disclosure statements on an annual basis.

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

The salary of the chief executive officer is reviewed and approved by the board of directors.

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

The salaries of all other key employees are reviewed and approved by the board of directors.

Form 990, Page 6, Part VI, Line 19

All governing documents are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Clarion University Foundation Inc
EIN
25-1256915
Phone
8143931610
Address
840 WOOD STREET, CLARION, PA 16214

Signing Officer

Name
Michael R Keefer
Title
Chief Exec Officer
Phone
8143932572
Signed
2018-11-02

Organization Details

Principal Officer
Jane France
Formed
1969
Legal Domicile
Pa
Voting Board Members
17
Independent Board Members
0
Employees
19
Volunteers
126

Preparer

Firm
Brooks & Rhoads Cpas
Address
160 S 2ND AVE STE D, CLARION, PA 16214-2444
Preparer
Mary E Brooks
Phone
8142264039
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Change in value of annuities payable -205,149

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

Income from endowments is used to provide financial support for clarion university students and special projects that benefit all students, alumni, personnel and the college community.

Schedule D, Page 4, Part XI, Line 2D

Change in value of annuities payable -205,149

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

Rental interest expense -4,171,668 fundraising event expenses -103,850

Schedule D, Page 4, Part XII, Line 2D

Rental interest expense 4,171,668 fundraising event expense 103,850

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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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