Civic Intelligence

Shepherd University Foundation Supporting Organization

EIN 81-1054787 • 501(c)3 • Shepherdstown, WV

Profile

The organization is intended to be a type i supporting organization for the benefit of, and controlled by, shepherd university foundation, inc. Which is a publicly supported organization. The specific objectives are to solicit, collect, and otherwise raise money, to expend, disburse, and dispose of the same, and to do any and all things necessary or incidental for the purpose of accomplishing the purposes and mission of shepherd university foundation, inc.

PO Box 5000Shepherdstown, WV 25443
Siviq Scores

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

Liabilities / Assets

96th percentile

1.18x

Higher debt load relative to assets than 96% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

96th percentile

10.74x

Higher debt load relative to revenue than 96% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

38th percentile

0.7%

Higher net margin than 38% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

21st percentile

-3.3%

Faster asset growth than 21% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2024

Revenue Growth

44th percentile

4.6%

Faster revenue growth than 44% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2024

Assets

Down

$17,180,822

Down $348,849 (-2.0%) from 2024

Liabilities

Down

$20,293,237

Down $414,746 (-2.0%) from 2024

Net Assets

Up

-$3,112,415

Up $65,897 (+2.1%) from 2024

Revenue

Down

$1,833,048

Down $94,715 (-4.9%) from 2024

Expenses

Down

$1,767,151

Down $147,227 (-7.7%) from 2024

Net Income

Up

$65,897

Up $52,512 (+392%) from 2024

Trend Graphs

Balance Sheet Trend

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

$30M$20M$10M$0-$10MAssets 2016: $23,427,653Liabilities 2016: $23,473,122Net Assets 2016: -$45,4692016Assets 2017: $24,466,419Liabilities 2017: $24,840,218Net Assets 2017: -$373,7992017Assets 2018: $21,585,258Liabilities 2018: $22,767,816Net Assets 2018: -$1,182,5582018Assets 2019: $20,432,662Liabilities 2019: $21,854,787Net Assets 2019: -$1,422,1252019Assets 2020: $19,743,600Liabilities 2020: $21,467,673Net Assets 2020: -$1,724,0732020Assets 2021: $18,839,222Liabilities 2021: $21,085,100Net Assets 2021: -$2,245,8782021Assets 2022: $18,727,712Liabilities 2022: $21,644,709Net Assets 2022: -$2,916,9972022Assets 2023: $18,211,263Liabilities 2023: $21,402,960Net Assets 2023: -$3,191,6972023Assets 2024: $17,529,671Liabilities 2024: $20,707,983Net Assets 2024: -$3,178,3122024Assets 2025: $17,180,822Liabilities 2025: $20,293,237Net Assets 2025: -$3,112,4152025

Highlighted filing

2025

Assets$17,180,822
Liabilities$20,293,237
Net Assets-$3,112,415

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2016: $0Expenses 2016: $45,469Net Income 2016: -$45,4692016Revenue 2017: $47,161Expenses 2017: $375,491Net Income 2017: -$328,3302017Revenue 2018: $1,864,057Expenses 2018: $2,672,816Net Income 2018: -$808,7592018Revenue 2019: $1,932,408Expenses 2019: $2,171,975Net Income 2019: -$239,5672019Revenue 2020: $1,477,432Expenses 2020: $1,779,380Net Income 2020: -$301,9482020Revenue 2021: $1,332,345Expenses 2021: $1,854,150Net Income 2021: -$521,8052021Revenue 2022: $1,761,060Expenses 2022: $2,432,179Net Income 2022: -$671,1192022Revenue 2023: $1,874,022Expenses 2023: $2,148,722Net Income 2023: -$274,7002023Revenue 2024: $1,927,763Expenses 2024: $1,914,378Net Income 2024: $13,3852024Revenue 2025: $1,833,048Expenses 2025: $1,767,151Net Income 2025: $65,8972025

Highlighted filing

2025

Revenue$1,833,048
Expenses$1,767,151
Net Income$65,897

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Feb 21, 2026
Return Version
2024v5.0
Gross Receipts
$1,833,048
Mission and Program Overview

Mission

The organization is intended to be a type i supporting organization for the benefit of, and controlled by, shepherd university foundation, inc. Which is a publicly supported organization. The specific objectives are to solicit, collect, and otherwise raise money, to expend, disburse, and dispose of the same, and to do any and all things necessary or incidental for the purpose of accomplishing the purposes and mission of shepherd university foundation, inc.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$16,768,138$16,383,142▼ $384,996
Savings and Temporary Cash Investments$660,127$701,758▲ $41,631
Accounts Receivable$60,993$57,490▼ $3,503
Prepaid Expenses and Deferred Charges$29,315$27,255▼ $2,060
Total Assets$17,529,671$17,180,822▼ $348,849
Other Assets Total$11,098$11,177▲ $79
Liabilities
Mortgage Notes Payable Secured by Investment Property$20,468,160$20,095,543▼ $372,617
Other Liabilities$222,052$180,247▼ $41,805
Accounts Payable and Accrued Expenses$17,771$17,447▼ $324
Total Liabilities$20,707,983$20,293,237▼ $414,746
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-3,178,312$-3,112,415▲ $65,897
Total Net Assets Fund Balance$-3,178,312$-3,112,415▲ $65,897
Total Liabilities and Net Assets / Fund Balance$17,529,671$17,180,822▼ $348,849

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$16,337,930$4,024,762$20,362,692
Equipment$45,212$952,675$997,887
Compensation and Service Providers

Employees

NameTitleOtherTotal
Sherri JanelleExec Vice Pr$164,062$164,062
Breanne RughComptroller$81,235$81,235

Board Members and Trustees

NameTitle
Austin Slater JrPresident
Sherri JanelleExec Vice President
Lyndsey MatschatDirector
Robert JenseniusSecretary
Dr Jason BestTreasurer
D Benjamin DeuellVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,811,554
Investment Income
$18,860
Other Revenue
$2,634
Change in Net Assets
$65,897

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,833,048
Total Revenue per Audited Statements
$1,833,048
Total Revenue per Form 990
$1,833,048
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,618,567
Salaries, Compensation, and Employee Benefits$148,584
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$993,826--$993,826
Depreciation Depletion$529,566--$529,566
Other Salaries and Wages$101,809$22,054-$123,863
Fees for Services Other$15,524$11,600-$27,124
Fees for Services Accounting-$19,500-$19,500
Insurance$15,625--$15,625
Other Employee Benefits$1,762$7,111-$8,873
Payroll Taxes$7,204$1,558-$8,762
Pension Plan Contributions$5,738$1,348-$7,086
Office Expenses$643$1,914-$2,557
Information Technology$972$1,516-$2,488
Other Expenses$181$4,992-$181
Total Functional Expenses$1,695,558$71,593$0$1,767,151

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,767,151
Total Expenses per Audited Statements$1,767,151
Total Expenses per Form 990$1,767,151
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 Affiliates$180,247
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
No
Other officer compensation reviewed
No
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 11B

The form 990 is reviewed and signed by the executive vice president of shepherd university foundation, inc., the supported organization. The form 990 is then distributed to the board of directors before the return is filed. The public disclosure copy is kept on file in the shepherd university foundation offices.

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

The organization follows the same guidelines for conflicts of interest as its supported organization, shepherd university foundation, inc.

Form 990, Page 6, Part VI, Line 19

Governing documents are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Shepherd University Foundation
EIN
81-1054787
Phone
3048765391
Address
PO BOX 5000, SHEPHERDSTOWN, WV 25443

Signing Officer

Name
Sherri Janelle
Title
Exec Vice President
Phone
3048765391
Signed
2026-02-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sherri Janelle
Formed
2016
Legal Domicile
Wv
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
5

Preparer

Firm
Smith Elliott Kearns & Company LLC
Address
19405 EMERALD SQUARE STE 1400, HAGERSTOWN, MD 21742
Preparer
Kelly T Smith CPA
Phone
3017335020
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The organization is intended to be a type i supporting organization for the benefit of, and controlled by, shepherd university foundation, inc. Which is a publicly supported organization. The specific objectives are to solicit, collect, and otherwise raise money, to expend, disburse, and dispose of the same, and to do any and all things necessary or incidental for the purpose of accomplishing the purposes and mission of shepherd university foundation, inc.

Form 990, Part V

The shepherd university foundation serves as the common paymaster for the shepherd university foundation supporting organization. The supporting organization reimburses the foundation for all payroll and related expenses that apply to their supporting functions.

Financial Statement Notes

Schedule D, Page 3, Part X

The foundation follows generally accepted accounting principles, which provides guidance on accounting for uncertainty in income taxes recognized in an organization's financial statements. The foundation's policy is to charge penalties and interest to income tax expense as incurred. The foundation's federal and state income tax returns are subject to examination by the internal revenue service and state tax authorities, generally for a period of three years after the returns are filed.

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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0PART I - LINE 12(G) SHEPHERD UNIVERSITY FOUNDATION SUPPORTING ORGANIZATION (THE SUPPORTING ORGANIZATION) WAS ESTABLISHED TO PROVIDE SUPPORT TO SHEPHERD UNIVERSITY FOUNDATION, INC. (THE FOUNDATION), WHICH IS A COMPONENT UNIT OF SHEPHERD UNIVERSITY (THE UNIVERSITY), A GOVERNMENT UNIT. THE SUPPORTING ORGANIZATION HAD SEVERAL DIRECT TRANSACTIONS WITH THE UNIVERSITY AS DISCLOSED IN THE FINANCIAL STATEMENTS FOOTNOTE 15. THE EXPENSES PAID DIRECTLY TO THE UNIVERSITY ARE INCLUDED IN FUNCTIONAL EXPENSES IN PART IX OF THE FORM 990 AND ARE TREATED AS SUPPORT TO THE FOUNDATION AND SHOWN ON PART I LINE G OF SCHEDULE A DUE TO THE FOUNDATION'S PURPOSE OF PROVIDING SUPPORT TO THE UNIVERSITY AND THE SUPPORTING ORGANIZATION PROVIDING SUPPORT TO THE FOUNDATION. THE DIRECT PAYMENTS TO THE UNIVERSITY FROM THE SUPPORTING ORGANIZATION SIMPLIFIES BOOKKEEPING FOR ALL ENTITIES.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION FOLLOWS GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, WHICH PROVIDES GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ORGANIZATION'S FINANCIAL STATEMENTS. THE FOUNDATION'S POLICY IS TO CHARGE PENALTIES AND INTEREST TO INCOME TAX EXPENSE AS INCURRED. THE FOUNDATION'S FEDERAL AND STATE INCOME TAX RETURNS ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE AND STATE TAX AUTHORITIES, GENERALLY FOR A PERIOD OF THREE YEARS AFTER THE RETURNS ARE FILED.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS INTENDED TO BE A TYPE I SUPPORTING ORGANIZATION FOR THE BENEFIT OF, AND CONTROLLED BY, SHEPHERD UNIVERSITY FOUNDATION, INC. WHICH IS A PUBLICLY SUPPORTED ORGANIZATION. THE SPECIFIC OBJECTIVES ARE TO SOLICIT, COLLECT, AND OTHERWISE RAISE MONEY, TO EXPEND, DISBURSE, AND DISPOSE OF THE SAME, AND TO DO ANY AND ALL THINGS NECESSARY OR INCIDENTAL FOR THE PURPOSE OF ACCOMPLISHING THE PURPOSES AND MISSION OF SHEPHERD UNIVERSITY FOUNDATION, INC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE SHEPHERD UNIVERSITY FOUNDATION SERVES AS THE COMMON PAYMASTER FOR THE SHEPHERD UNIVERSITY FOUNDATION SUPPORTING ORGANIZATION. THE SUPPORTING ORGANIZATION REIMBURSES THE FOUNDATION FOR ALL PAYROLL AND RELATED EXPENSES THAT APPLY TO THEIR SUPPORTING FUNCTIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 IS REVIEWED AND SIGNED BY THE EXECUTIVE VICE PRESIDENT OF SHEPHERD UNIVERSITY FOUNDATION, INC., THE SUPPORTED ORGANIZATION. THE FORM 990 IS THEN DISTRIBUTED TO THE BOARD OF DIRECTORS BEFORE THE RETURN IS FILED. THE PUBLIC DISCLOSURE COPY IS KEPT ON FILE IN THE SHEPHERD UNIVERSITY FOUNDATION OFFICES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION FOLLOWS THE SAME GUIDELINES FOR CONFLICTS OF INTEREST AS ITS SUPPORTED ORGANIZATION, SHEPHERD UNIVERSITY FOUNDATION, INC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART V
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
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