Civic Intelligence

The Athletics Foundation of Norfolk State University Inc

EIN 52-1228618 • 501(c)3 • Norfolk, VA

Profile

To raise funds and receive gifts for the benefit, scholarship, and education of students attending norfolk state university (nsu) and participating in an athletic program of nsu.

700 Park AvenueNorfolk, VA 23504

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

78th percentile

0.26x

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

501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

73rd percentile

0.13x

Higher debt load relative to revenue than 73% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

70th percentile

17%

Higher net margin than 70% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

55th percentile

$0

Higher top officer pay than 55% of similar nonprofits.

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

501(c)3 • $500k-$1M nonprofits • Source year 2022

Asset Growth

85th percentile

40%

Faster asset growth than 85% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

95th percentile

188%

Faster revenue growth than 95% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Assets

Up

$269,608

Up $77,190 (+40%) from 2021

Liabilities

Down

$68,837

Down $12,889 (-16%) from 2021

Net Assets

Up

$200,771

Up $90,079 (+81%) from 2021

Revenue

Up

$518,263

Up $338,128 (+188%) from 2021

Expenses

Up

$428,184

Up $245,940 (+135%) from 2021

Net Income

Up

$90,079

Up $92,188 (+4371%) from 2021

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$300K$200K$100K$0Assets 2010: $252,014Liabilities 2010: $35,601Net Assets 2010: $216,4132010Assets 2011: $252,890Liabilities 2011: $27,790Net Assets 2011: $225,1002011Assets 2012: $197,125Liabilities 2012: $49,342Net Assets 2012: $147,7832012Assets 2013: $216,206Liabilities 2013: $38,618Net Assets 2013: $177,5882013Assets 2014: $179,601Liabilities 2014: $44,810Net Assets 2014: $134,7912014Assets 2015: $267,672Liabilities 2015: $68,522Net Assets 2015: $199,1502015Assets 2016: $259,955Liabilities 2016: $80,163Net Assets 2016: $179,7922016Assets 2017: $214,065Liabilities 2017: $85,024Net Assets 2017: $129,0412017Assets 2018: $179,598Liabilities 2018: $105,871Net Assets 2018: $73,7272018Assets 2019: $147,974Liabilities 2019: $50,836Net Assets 2019: $97,1382019Assets 2020: $164,760Liabilities 2020: $51,959Net Assets 2020: $112,8012020Assets 2021: $192,418Liabilities 2021: $81,726Net Assets 2021: $110,6922021Assets 2022: $269,608Liabilities 2022: $68,837Net Assets 2022: $200,7712022

Highlighted filing

2022

Assets$269,608
Liabilities$68,837
Net Assets$200,771

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$600K$400K$200K$0-$200KExpenses 2010: $550,7002010Revenue 2011: $513,730Expenses 2011: $517,228Net Income 2011: -$3,4982011Revenue 2012: $495,279Expenses 2012: $579,721Net Income 2012: -$84,4422012Expenses 2013: $497,8272013Revenue 2014: $488,013Expenses 2014: $530,525Net Income 2014: -$42,5122014Revenue 2015: $482,165Expenses 2015: $415,418Net Income 2015: $66,7472015Revenue 2016: $334,144Expenses 2016: $359,892Net Income 2016: -$25,7482016Revenue 2017: $441,322Expenses 2017: $500,565Net Income 2017: -$59,2432017Revenue 2018: $406,299Expenses 2018: $470,613Net Income 2018: -$64,3142018Revenue 2019: $410,299Expenses 2019: $377,888Net Income 2019: $32,4112019Revenue 2020: $429,575Expenses 2020: $413,912Net Income 2020: $15,6632020Revenue 2021: $180,135Expenses 2021: $182,244Net Income 2021: -$2,1092021Revenue 2022: $518,263Expenses 2022: $428,184Net Income 2022: $90,0792022

Highlighted filing

2022

Revenue$518,263
Expenses$428,184
Net Income$90,079

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 10, 2023
Return Version
2021v4.0
Gross Receipts
$655,875
Mission and Program Overview

Mission

To raise funds and receive gifts for the benefit, scholarship, and education of students attending norfolk state university (nsu) and participating in an athletic program of nsu.

To raise and receive gifts for the benefit, scholarship and education of student attending.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$128,566$216,943▲ $88,377
Investments in Publicly Traded Securities$50,000$50,000→ $0
Land, Buildings, and Equipment, Net$13,852$2,665▼ $11,187
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0--
Investments Program Related$0--
Intangible Assets$0--
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$192,418$269,608▲ $77,190
Liabilities
Deferred Revenue$64,774$47,361▼ $17,413
Accounts Payable and Accrued Expenses$16,952$21,476▲ $4,524
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$81,726$68,837▼ $12,889
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$60,692$150,771▲ $90,079
Net Assets With Donor Restrictions$50,000$50,000→ $0
Total Net Assets Fund Balance$110,692$200,771▲ $90,079
Total Liabilities and Net Assets / Fund Balance$192,418$269,608▲ $77,190

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$0$0$0
Other Land Buildings$0$0$0
Land$0-$0
Equipment$2,665$166,223$0
Leasehold Improvements$0$0$0
Compensation and Service Providers

Board Members and Trustees

NameTitle
William SwivelsPresident
Asley AveryBoard Member
Cliff ReidBoard Member
Curtis HurdleBoard Member
Demetra BrinkleyBoard Member
Donald PorterBoard Member
Dr Sandy HuchinsonBoard Member
Eric MajetteBoard Member
James RiversBoard Member
John VaughterBoard Member
Keith HubbardBoard Member
Langston PowellBoard Member
Michael MullinBoard Member
Michael WalkerBoard Member
Reginald FreemanBoard Member
Zackery RogersBoard Member
Frances StewardExecutive Director
Brenda BettsSecretary
Alfred StewardTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$319,554
Program Service Revenue
$286,252
Investment Income
$363
Other Revenue
$-87,906
All Other Contributions
$233,429
Change in Net Assets
$90,079

Audited Revenue Reconciliation

Revenue per Audited Statements
$518,263
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$518,263
Total Revenue per Form 990
$518,263
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$428,184
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Office Expenses$104,935$5,600$0$110,535
Fees for Services Management$15,793$73,200$0$88,993
Other Expenses$17,379$43,738$0$61,117
All Other Expenses$26,566$1,876$0$28,442
Travel$21,121$1,814$0$22,935
Depreciation Depletion$11,188$0$0$11,188
Insurance$4,435$0$0$4,435
Total Functional Expenses$252,314$175,870$0$428,184

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$428,184
Total Expenses per Audited Statements$428,184
Total Expenses per Form 990$428,184
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Other Expense Adjustments$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$137,612
Fundraising Gross Income$49,706
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Men's Basketball$27,570$27,570$56,795$-29,225
Preservation$10,445$10,445$47,684$-37,239
Total Events$49,706$49,706$135,570$-85,864
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
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 executive director and the fiscal officer reviews the 990 together. The foundation's finance and audit committee will be presented with the 990 by the foundation staff.

Form 990, Part VI, Section C, Line 19

Financials and policies are available upon request.

Filing and Contact Details

Filer

Filer Name
Athletics Foundation of Norfolk State University Inc
EIN
52-1228618
Phone
7576791563
Address
700 Park Avenue, Norfolk, VA 23504

Signing Officer

Name
Frances Steward
Title
Executive Director
Phone
7576791563
Signed
2023-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Frances Steward
Formed
1980
Legal Domicile
Va
Voting Board Members
19
Independent Board Members
19
Employees
0
Volunteers
25

Preparer

Firm
Rhonda B Stewart CPA
Address
5552 Berry Hill Rd, Norfolk, VA 23502
Preparer
Rhonda Stewart
Phone
7577375280
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt150
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt160
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt170
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt180
IRS990/Form990PartVIISectionAGrp/TitleTxt0Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt1Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt2Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt3Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt4Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt5Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt6Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt7Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt8Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt9Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt10Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt11Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt12Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt13Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt14Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt15President
IRS990/Form990PartVIISectionAGrp/TitleTxt16Executive Director
IRS990/Form990PartVIISectionAGrp/TitleTxt17Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt18Secretary
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01980
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedInd00
IRS990/FundraisingActivitiesInd01
IRS990/FundraisingAmt00
IRS990/FundraisingDirectExpensesAmt0137612
IRS990/FundraisingGrossIncomeAmt049706
IRS990/GainOrLossGrp/OtherAmt00
IRS990/GainOrLossGrp/SecuritiesAmt00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt019
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IRS990/GrantAmt00
IRS990/GrantsPayableGrp/BOYAmt00
IRS990/GrantsPayableGrp/EOYAmt00
IRS990/GrantsToDomesticIndividualsGrp/ProgramServicesAmt00
IRS990/GrantsToDomesticIndividualsGrp/TotalAmt00
IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt00
IRS990/GrantsToDomesticOrgsGrp/TotalAmt00
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt0655875
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd00
IRS990/IncmFromInvestBondProceedsGrp/ExclusionAmt00
IRS990/IncmFromInvestBondProceedsGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/IncmFromInvestBondProceedsGrp/TotalRevenueColumnAmt00
IRS990/IncmFromInvestBondProceedsGrp/UnrelatedBusinessRevenueAmt00
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IRS990/IndependentVotingMemberCnt019
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/FundraisingAmt00
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt00
IRS990/InformationTechnologyGrp/ProgramServicesAmt00
IRS990/InformationTechnologyGrp/TotalAmt00
IRS990/InsuranceGrp/FundraisingAmt00
IRS990/InsuranceGrp/ManagementAndGeneralAmt00
IRS990/InsuranceGrp/ProgramServicesAmt04435
IRS990/InsuranceGrp/TotalAmt04435
IRS990/IntangibleAssetsGrp/BOYAmt00
IRS990/InterestGrp/FundraisingAmt00
IRS990/InterestGrp/ManagementAndGeneralAmt00
IRS990/InterestGrp/ProgramServicesAmt00
IRS990/InterestGrp/TotalAmt00
IRS990/InventoriesForSaleOrUseGrp/BOYAmt00
IRS990/InventoriesForSaleOrUseGrp/EOYAmt00
IRS990/InvestmentExpenseAmt00
IRS990/InvestmentIncomeGrp/ExclusionAmt00
IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt0363
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IRS990/InvestmentIncomeGrp/UnrelatedBusinessRevenueAmt00
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt00
IRS990/InvestmentsProgramRelatedGrp/BOYAmt00
IRS990/InvestmentsPubTradedSecGrp/BOYAmt050000
IRS990/InvestmentsPubTradedSecGrp/EOYAmt050000
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0166223
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IRS990/LandBldgEquipBasisNetGrp/EOYAmt02665
IRS990/LandBldgEquipCostOrOtherBssAmt0168888
IRS990/LegalDomicileStateCd0VA
IRS990/LoanOutstandingInd00
IRS990/LoansFromOfficersDirectorsGrp/BOYAmt00
IRS990/LoansFromOfficersDirectorsGrp/EOYAmt00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembershipDuesAmt086125
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO RAISE FUNDS AND RECEIVE GIFTS FOR THE BENEFIT, SCHOLARSHIP, AND EDUCATION OF STUDENTS ATTENDING NORFOLK STATE UNIVERSITY (NSU) AND PARTICIPATING IN AN ATHLETIC PROGRAM OF NSU.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt00
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt00
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IRS990/NetAssetsOrFundBalancesEOYAmt0200771
IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt0-87906
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt0-87906
IRS990/NetIncmFromFundraisingEvtGrp/UnrelatedBusinessRevenueAmt00
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt060692
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0150771
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NoncashContributionsAmt00
IRS990/NondeductibleContributionsInd01
IRS990/NondeductibleContriDisclInd00
IRS990/OccupancyGrp/FundraisingAmt00
IRS990/OccupancyGrp/ManagementAndGeneralAmt00
IRS990/OccupancyGrp/ProgramServicesAmt00
IRS990/OccupancyGrp/TotalAmt00
IRS990/OfficeExpensesGrp/FundraisingAmt00
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IRS990/OfficeExpensesGrp/ProgramServicesAmt0104935
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IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
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IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt00
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0Events and Services
IRS990/OtherExpensesGrp/Desc1Donations
IRS990/OtherExpensesGrp/Desc2Tickets and Parking
IRS990/OtherExpensesGrp/Desc3Misc
IRS990/OtherExpensesGrp/FundraisingAmt00
IRS990/OtherExpensesGrp/FundraisingAmt10
IRS990/OtherExpensesGrp/FundraisingAmt20
IRS990/OtherExpensesGrp/FundraisingAmt30
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt02800
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt12950
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt243892
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt343738
IRS990/OtherExpensesGrp/ProgramServicesAmt036142

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