Civic Intelligence

Alabama State University Trust for Educational Excellence

990 • Fiscal year 2017 • EIN 31-1635334

Aug 01, 2016 to Jul 31, 2017 • Filed on Jun 12, 2018

Organization ProfileN/A
Pobox 271Montgomery, AL 36101

(334) 229-4223

Siviq Scores

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

Liabilities / Assets

5th percentile

0.00x

Higher debt load relative to assets than 5% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Liabilities / Revenue

13th percentile

0.07x

Higher debt load relative to revenue than 13% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Net Margin

94th percentile

59%

Higher net margin than 94% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Top Officer Pay

51st percentile

$347,588

Higher top officer pay than 51% of similar nonprofits.

Top officer pay equals 8.1% of source-year revenue.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Asset Growth

58th percentile

7.8%

Faster asset growth than 58% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Revenue Growth

98th percentile

433%

Faster revenue growth than 98% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets5th percentile

Assets

Up

$83,757,027

Up $6,051,910 (+7.8%) from 2016

Net Assets

Up

$83,455,004

Up $5,749,887 (+7.4%) from 2016

Liabilities

Up

$302,023

Up $302,023 from 2016

Revenue And Expenses
Liabilities / Revenue13th percentileNet Margin94th percentile

Revenue

Up

$4,310,073

Up $3,501,482 (+433%) from 2016

Expenses

Up

$1,751,914

Up $955,781 (+120%) from 2016

Net Income

Up

$2,558,159

Up $2,545,701 (+20434%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth58th percentile

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

$150M$100M$50M$0Assets 2010: $52,401,284Liabilities 2010: $0Net Assets 2010: $52,401,2842010Assets 2012: $60,129,750Liabilities 2012: $252,499Net Assets 2012: $59,877,2512012Assets 2013: $66,758,054Liabilities 2013: $0Net Assets 2013: $66,758,0542013Assets 2014: $72,979,468Liabilities 2014: $0Net Assets 2014: $72,979,4682014Assets 2015: $77,056,280Liabilities 2015: $0Net Assets 2015: $77,056,2802015Assets 2016: $77,705,117Liabilities 2016: $0Net Assets 2016: $77,705,1172016Assets 2017: $83,757,027Liabilities 2017: $302,023Net Assets 2017: $83,455,0042017Assets 2018: $87,920,399Liabilities 2018: $0Net Assets 2018: $87,920,3992018Assets 2019: $90,613,066Liabilities 2019: $0Net Assets 2019: $90,613,0662019Assets 2020: $97,937,017Liabilities 2020: $0Net Assets 2020: $97,937,0172020Assets 2021: $112,873,590Liabilities 2021: $0Net Assets 2021: $112,873,5902021Assets 2022: $101,922,073Liabilities 2022: $0Net Assets 2022: $101,922,0732022Assets 2023: $105,702,662Liabilities 2023: $2,026,105Net Assets 2023: $103,676,5572023Assets 2024: $113,149,368Liabilities 2024: $0Net Assets 2024: $113,149,3682024

Highlighted filing

2017

Assets$83,757,027
Liabilities$302,023
Net Assets$83,455,004
Open 2017 Filing

Operations Trend

Revenue Growth98th percentile

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

$15M$10M$5.0M$0-$5.0MExpenses 2010: $693,6982010Expenses 2012: $1,147,2862012Expenses 2013: $1,585,5342013Revenue 2014: $7,200,620Expenses 2014: $1,127,010Net Income 2014: $6,073,6102014Revenue 2015: $7,853,759Expenses 2015: $436,277Net Income 2015: $7,417,4822015Revenue 2016: $808,591Expenses 2016: $796,133Net Income 2016: $12,4582016Revenue 2017: $4,310,073Expenses 2017: $1,751,914Net Income 2017: $2,558,1592017Revenue 2018: $6,379,829Expenses 2018: $2,078,282Net Income 2018: $4,301,5472018Revenue 2019: $4,308,243Expenses 2019: $2,402,437Net Income 2019: $1,905,8062019Revenue 2020: $4,341,347Expenses 2020: $986,550Net Income 2020: $3,354,7972020Revenue 2021: $12,381,049Expenses 2021: $1,113,381Net Income 2021: $11,267,6682021Revenue 2022: $5,237,608Expenses 2022: $1,038,002Net Income 2022: $4,199,6062022Revenue 2023: -$1,908,486Expenses 2023: $2,682,272Net Income 2023: -$4,590,7582023Revenue 2024: $5,940,422Expenses 2024: $2,996,033Net Income 2024: $2,944,3892024

Highlighted filing

2017

Revenue$4,310,073
Expenses$1,751,914
Net Income$2,558,159
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Aug 1, 2016 to Jul 31, 2017
Signed
Jun 12, 2018
Return Version
2016v3.0
Gross Receipts
$82,887,024
Mission and Program Overview

Mission

The trust seeks to support and improve educational excellence at alabama state university (the university) through the following: (1) granting of academic scholarships at the university, (2) endowment of academic chairs, (3) subsidizing of current faculty positions and (4) payment of fees and expenses for campus lectures and lecture series on the university's campus.

To support and improve educational excellence at alabama state university

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$68,427,003$74,266,858▲ $5,839,855
Cash and Non-Interest-Bearing Accounts$9,124,533$9,460,670▲ $336,137
Accounts Receivable$105,427$75▼ $105,352
Total Assets$77,705,117$83,757,027▲ $6,051,910
Other Assets Total$48,154$29,424▼ $18,730
Liabilities
Accounts Payable and Accrued Expenses$0$302,023▲ $302,023
Total Liabilities$0$302,023▲ $302,023
Net Assets / Fund Balance
Permanently Rstr Net Assets$52,956,748$54,859,217▲ $1,902,469
Temporarily Rstr Net Assets$24,748,369$28,595,787▲ $3,847,418
Total Net Assets Fund Balance$77,705,117$83,455,004▲ $5,749,887
Total Liabilities and Net Assets / Fund Balance$77,705,117$83,757,027▲ $6,051,910

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$77,705,117$64,976▲ $7,436,825$134,798$83,455,004
2015$77,056,280$67,129▲ $1,377,841$132,013$77,705,117
2014$72,979,778$144,831▲ $4,367,948$118,644$77,056,280
2013$66,752,805$71,152▲ $7,282,831$151,961$72,979,778
2012$59,868,846$132,342▲ $8,337,151$128,906$66,752,805
Compensation and Service Providers
Top Officer Pay51st percentile

Board Members and Trustees

NameTitle
Ralph RuggscHAIRMAN
Governor Kay IveyPresident, Ex-officio
Governor Robert BentleyPresident, Ex-officio
Angela D MckenzieVice Chairman
Alfreda Warner GreenMember
Brenda B Huntermember
Claudine R JamesMember
Eddie HardawayMember
Fred E FrostMember
George GoreMember
Herbert D YoungMember
Joe Whitt SrMember
Larry MeansMember
Mario LumzyMember
Napoleon Bracy JrMember
Pamela Johnson WareMember
Robert BarnettMember
Robert El GilpinMember
Taylor Hodge JrMember
Tiffany B MccordMember
dARRELL hUDSON jRmEMBER
Dr Leon WilsonMember, Ex-officio
Dr Gwendolyn BoydSecretary, Ex-officio
Revenue and Support

Revenue Composition

Contributions and Grants
$64,976
Program Service Revenue
$0
Investment Income
$4,245,097
Other Revenue
$0
All Other Contributions
$64,976
Change in Net Assets
$2,558,159

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,310,073
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$3,191,728
Total Revenue per Audited Statements
$7,501,801
Total Revenue per Form 990
$4,310,073
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,617,116
Other Expenses$134,798
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$1,617,116--$1,617,116
Fees for Service Investment Mgmnt Fees-$86,852-$86,852
Other Expenses$47,888$58-$58
Total Functional Expenses$1,665,004$86,910$0$1,751,914

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,751,914
Total Expenses per Audited Statements$1,751,914
Total Expenses per Form 990$1,751,914
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“The form 990 will be reviewed by the appropriate personnel designated by the organization and the university prior to filing and submission to the irs. The return will be provided to the full board of directors for review and approval as well.”

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

“The trust is operated and managed by board members and officers of alabama state university. Board members must adhere to board policies. Board policies are part of the university's by-laws and the state statute that created the university. University officers must also adhere to university and state policies regarding the disclosure of all potential conflicts of interest. The alabama ethics commission also enforces and monitors conflicts of interest by the organization's trustees, officers, and key employees.”

Form 990, Part VI, Section B, line 15

“All compensation matters are established and monitored by the organization's board of trustees.”

Form 990, Part VI, Section C, line 19

“Governing documents of the organization are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Alabama State University Trust
EIN
31-1635334
Phone
3342294223
Address
POBOX 271, MONTGOMERY, AL 36101

Signing Officer

Name
William F Hopper
Title
Vice President
Phone
3342294223
Signed
2018-06-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Leon Wilson
Formed
1998
Legal Domicile
Al
Voting Board Members
15
Independent Board Members
15
Employees
0
Volunteers
23

Preparer

Firm
Warren Averett LLC
Address
3815 Interstate Ct, Montgomery, AL 36109
Preparer
Lee C Parks CPA
Phone
3342712200
Supplemental Narrative

Financial Statement Notes

Part V, Line 4:

“The Endowment funds of the Trust are intended for (1) granting of academic scholarships at the University, (2) endowment of academic chairs, (3) subsidizing of current faculty positions and (4) payment of fees and expenses for campus lectures and lecture series on the University's campus.”

Part X, Line 2:

“The Trust is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code and similar provisions of Alabama law and is classified by the Internal Revenue Service as an organization other than a private foundation. As of July 31, 2017, the Trust has no uncertain tax positions that qualify for recognition or disclosure in the financial statements and no interest and penalties related to income taxes.”

Raw XML AppendixShowing 400 of 564 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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Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$83,757,027
Liabilities
$302,023
Net assets
$83,455,004
Revenue
$4,310,073
Expenses
$1,751,914
Net income
$2,558,159
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$113$0.00$113$5.94$3.00$2.94
2023Detailed filing. Detailed filing data is available for this year.$106$2.03$104$1.91$2.68$4.59
2022Detailed filing. Detailed filing data is available for this year.$102$0.00$102$5.24$1.04$4.20
2021Detailed filing. Detailed filing data is available for this year.$113$0.00$113$12.4$1.11$11.3
2020Detailed filing. Detailed filing data is available for this year.$97.9$0.00$97.9$4.34$0.99$3.35
2019Detailed filing. Detailed filing data is available for this year.$90.6$0.00$90.6$4.31$2.40$1.91
2018Detailed filing. Detailed filing data is available for this year.$87.9$0.00$87.9$6.38$2.08$4.30
2017Detailed filing. Detailed filing data is available for this year.$83.8$0.30$83.5$4.31$1.75$2.56
2016Detailed filing. Detailed filing data is available for this year.$77.7$0.00$77.7$0.81$0.80$0.01
2015Detailed filing. Detailed filing data is available for this year.$77.1$0.00$77.1$7.85$0.44$7.42
2014Detailed filing. Detailed filing data is available for this year.$73.0$0.00$73.0$7.20$1.13$6.07
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$66.8$0.00$66.8$1.59
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$60.1$0.25$59.9$1.15
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$52.4$0.00$52.4$0.69