Civic Intelligence

Alabama State University Trust for Educational Excellence

990 • Fiscal year 2023 • EIN 31-1635334

Aug 01, 2022 to Jul 31, 2023 • Filed on May 31, 2024

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

13th percentile

0.02x

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

2023 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2023

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2023

Net Margin

100th percentile

241%

Higher net margin than 100% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2023

Top Officer Pay

5th percentile

$0

Higher top officer pay than 5% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2023

Asset Growth

41st percentile

3.7%

Faster asset growth than 41% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2022 to 2023

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets13th percentile

Assets

Up

$105,702,662

Up $3,780,589 (+3.7%) from 2022

Net Assets

Up

$103,676,557

Up $1,754,484 (+1.7%) from 2022

Liabilities

Up

$2,026,105

Up $2,026,105 from 2022

Revenue And Expenses
Liabilities / RevenueScore unavailableNet Margin100th percentile

Revenue

Down

-$1,908,486

Down $7,146,094 (-136%) from 2022

Expenses

Up

$2,682,272

Up $1,644,270 (+158%) from 2022

Net Income

Down

-$4,590,758

Down $8,790,364 (-209%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth41st 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

2023

Assets$105,702,662
Liabilities$2,026,105
Net Assets$103,676,557
Open 2023 Filing

Operations Trend

Revenue GrowthScore unavailable

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

2023

Revenue-$1,908,486
Expenses$2,682,272
Net Income-$4,590,758
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Aug 1, 2022 to Jul 31, 2023
Signed
May 31, 2024
Return Version
2022v5.0
Gross Receipts
$92,482,974
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$90,180,398$91,672,719▲ $1,492,321
Cash and Non-Interest-Bearing Accounts$11,449,750$13,929,611▲ $2,479,861
Accounts Receivable$241,627--
Total Assets$101,922,073$105,702,662▲ $3,780,589
Other Assets Total$50,298$100,332▲ $50,034
Liabilities
Other Liabilities$0$2,026,105▲ $2,026,105
Total Liabilities$0$2,026,105▲ $2,026,105
Net Assets / Fund Balance
Net Assets With Donor Restrictions$101,922,073$103,676,557▲ $1,754,484
Total Net Assets Fund Balance$101,922,073$103,676,557▲ $1,754,484
Total Liabilities and Net Assets / Fund Balance$101,922,073$105,702,662▲ $3,780,589

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$101,922,073$99,770▲ $4,238,846$69,248$103,676,557
2021$112,873,590$75,693▼ $10,097,200$50,184$101,922,073
2020$97,937,017$323,658▲ $15,620,975$74,408$112,873,590
2019$90,613,066$157,197▲ $8,062,640$154,631$97,937,017
2018$87,920,399$55,776▲ $4,952,193$77,329$90,613,066
Compensation and Service Providers
Top Officer Pay5th percentile

Board Members and Trustees

NameTitle
Brenda HunterPresident
Delbert MadisonPresident Protem
Angela MckenzieMember
Christopher SpencerMember
Darrell L HudsonMember
George GoreMember
Joe Whitt SrMember
Laraunce FlemingMember
Larry MeansMember
Mario LumzyMember
Napoleon Bracy JrMember
Pamela J WareMember
Paulette EdwardsMember
Tiffany B MccordMember
Revenue and Support

Revenue Composition

Contributions and Grants
$99,770
Program Service Revenue
$0
Investment Income
$-2,008,256
Other Revenue
$0
All Other Contributions
$99,770
Change in Net Assets
$-4,590,758

Audited Revenue Reconciliation

Revenue per Audited Statements
$-2,006,626
Revenue Not Reported on Financial Statements
$98,140
Revenue Not Reported on Form 990
$6,345,242
Total Revenue per Audited Statements
$4,338,616
Total Revenue per Form 990
$-1,908,486
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$2,514,884
Other Expenses$167,388
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$2,514,884--$2,514,884
Fees for Service Investment Mgmnt Fees-$98,140-$98,140
Other Expenses$69,248--$69,248
Total Functional Expenses$2,584,132$98,140$0$2,682,272

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$2,682,272
Expenses per Audited Statements$2,584,132
Total Expenses per Audited Statements$2,584,132
Expenses Not Reported on Financial Statements$98,140
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Alabama State University$2,026,105
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
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
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
Alondrea J Pritchett
Title
Vice President
Phone
3342294223
Signed
2024-05-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Quinton Ross
Formed
1998
Legal Domicile
Al
Voting Board Members
14
Independent Board Members
14
Employees
0
Volunteers
14

Preparer

Firm
Warren Averett LLC
Address
105 TALLAPOOSA STREET STE 300, MONTGOMERY, AL 36104
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, 2023, 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.”

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IRS990/MissionDesc0THE 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.
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IRS990/OtherAssetsTotalGrp/EOYAmt0100332
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0LECTURE SERIES
IRS990/OtherExpensesGrp/ProgramServicesAmt069248
IRS990/OtherExpensesGrp/TotalAmt069248
IRS990/OtherLiabilitiesGrp/BOYAmt00
IRS990/OtherLiabilitiesGrp/EOYAmt02026105
IRS990/PartialLiquidationInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0DR QUINTON ROSS
IRS990/ProfessionalFundraisingInd00
IRS990/ProgSrvcAccomActy2Grp/Desc0OFFICIAL LECTURE SERIES SPONSORED BY THE NATIONAL CENTER FOR THE STUDY OF CIVIL RIGHTS AND AFRICAN-AMERICAN CULTURE AT ALABAMA STATE UNIVERSITY ARE HELD ANNUALLY OR TO COINCIDE WITH SPECIAL CIVIL RIGHTS ANNIVERSARY EVENTS OR OTHER SUCH OCCASIONS. EVENTS MAY FEATURE SCHOLARS, COMMUNITY LEADERS, EDUCATORS AND ARTISTS ON A VARIETY OF THEMES. A TOTAL OF 1,189 STUDENTS AND OTHERS FROM THE GENERAL POPULATION ATTENDED A COMBINATION OF 41 (12 WERE EDUCATIONAL SERVICES) OFFICIAL AND UNOFFICIAL LECTURE SERIES THAT WERE CONDUCTED IN FISCAL YEAR 2023 BY THE NATIONAL CENTER, WITH FUNDING FOR LECTURES PROVIDED THROUGH THE TRUST FOR EDUCATIONAL EXCELLENCE.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt069248
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt075693
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0879826
IRS990/PYInvestmentIncomeAmt05161915
IRS990/PYOtherExpensesAmt0158176
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt04199606
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt01038002
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt05237608
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-4590758
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd01
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0636001101
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd06
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt02584132
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0ALABAMA STATE UNIVERSITY
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt02584132
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt0101922073
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt099770
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt0103676557
IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt02514884
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt04238846
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt069248
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt0112873590
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt075693
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt0101922073
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/GrantsOrScholarshipsAmt0879826
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-10097200
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt050184
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt097937017
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt0323658
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt0112873590
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/GrantsOrScholarshipsAmt0933652
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt015620975
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/OtherExpendituresAmt074408
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt090613066
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt0157197
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt097937017
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/GrantsOrScholarshipsAmt0741255
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt08062640
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/OtherExpendituresAmt0154631
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt087920399
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt055776
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt090613066
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/GrantsOrScholarshipsAmt02237973
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt04952193
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/OtherExpendituresAmt077329
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt098140
IRS990ScheduleD/ExpensesSubtotalAmt02584132
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InvestmentExpensesNotIncld2Amt098140
IRS990ScheduleD/InvestmentExpensesNotIncldAmt098140
IRS990ScheduleD/NetUnrealizedGainsInvstAmt06345242
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt02026105
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO ALABAMA STATE UNIVERSITY
IRS990ScheduleD/RevenueNotReportedAmt06345242
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt098140
IRS990ScheduleD/RevenueSubtotalAmt0-2006626
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE 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.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE 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, 2023, 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.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART V, LINE 4:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt02682272
IRS990ScheduleD/TotalLiabilityAmt02026105
IRS990ScheduleD/TotalRevenuePerForm990Amt0-1908486
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt04338616
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02584132
IRS990ScheduleI/GrantRecordsMaintainedInd00
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt02514884
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIPS/GAP AWARDS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt0126
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL COMPENSATION MATTERS ARE ESTABLISHED AND MONITORED BY THE ORGANIZATION'S BOARD OF TRUSTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS OF THE ORGANIZATION ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0101922073
IRS990/TotalAssetsEOYAmt0105702662
IRS990/TotalAssetsGrp/BOYAmt0101922073
IRS990/TotalAssetsGrp/EOYAmt0105702662
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt099770
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt098140
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02584132
IRS990/TotalFunctionalExpensesGrp/TotalAmt02682272
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt02026105
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt02026105
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0101922073
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0103676557
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt02584132
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0-2008256
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0-1908486

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$105,702,662
Liabilities
$2,026,105
Net assets
$103,676,557
Revenue
-$1,908,486
Expenses
$2,682,272
Net income
-$4,590,758
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