Civic Intelligence

Shepherd University Foundation Supporting Organization

990 • Fiscal year 2018 • EIN 81-1054787

Jul 01, 2017 to Jun 30, 2018 • Filed on Jan 08, 2019

Organization Profile
PO Box 5000Shepherdstown, WV 25443

(304) 876-5391

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Flat

$21,585,258

Flat from 2018

Net Assets

Flat

-$1,182,558

Flat from 2018

Liabilities

Flat

$22,767,816

Flat from 2018

Revenue And Expenses

Revenue

Flat

$1,864,057

Flat from 2018

Expenses

Flat

$2,672,816

Flat from 2018

Net Income

Flat

-$808,759

Flat from 2018

Historical Trend

Balance Sheet Trend

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

$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 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

2018

Assets$21,585,258
Liabilities$22,767,816
Net Assets-$1,182,558
Open 2018 Filing

Operations Trend

Revenue, expenses, and net income across loaded years, with this 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 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

2018

Revenue$1,864,057
Expenses$2,672,816
Net Income-$808,759
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Jan 8, 2019
Return Version
2017v2.3
Gross Receipts
$1,864,057
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-$20,449,203-
Savings and Temporary Cash Investments$5,539,348$1,080,165▼ $4,459,183
Accounts Receivable-$35,180-
Prepaid Expenses and Deferred Charges-$11,437-
Total Assets$24,466,419$21,585,258▼ $2,881,161
Other Assets Total$18,927,071$9,273▼ $18,917,798
Liabilities
Mortgage Notes Payable Secured by Investment Property$22,176,789$21,740,990▼ $435,799
Other Liabilities-$1,007,017-
Accounts Payable and Accrued Expenses$2,663,429$19,809▼ $2,643,620
Total Liabilities$24,840,218$22,767,816▼ $2,072,402
Net Assets / Fund Balance
Unrestricted Net Assets$-373,799$-1,182,558▼ $808,759
Total Net Assets Fund Balance$-373,799$-1,182,558▼ $808,759
Total Liabilities and Net Assets / Fund Balance$24,466,419$21,585,258▼ $2,881,161

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$19,629,223$453,077$20,082,300
Equipment$819,980$192,822$1,012,802
Compensation and Service Providers

Employees

NameTitleOtherTotal
Monica W LingenfelterExecutive Vi$143,572$143,572

Board Members and Trustees

NameTitle
Christopher S ColbertPresident
Dr Jason BestDirector
Karl L WolfSecretary
Julia M ConnellTreasurer
Michael a SmithVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,838,363
Investment Income
$25,238
Other Revenue
$456
Change in Net Assets
$-808,759

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,864,057
Total Revenue per Audited Statements
$1,864,057
Total Revenue per Form 990
$1,864,057
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,591,120
Salaries, Compensation, and Employee Benefits$81,696
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$1,646,471--$1,646,471
Depreciation Depletion$854,419--$854,419
Other Salaries and Wages$70,092--$70,092
Fees for Services Other$52,808--$52,808
Office Expenses$11,593$1,523-$13,116
Fees for Services Accounting-$10,150-$10,150
Insurance$4,579--$4,579
Payroll Taxes$4,543--$4,543
Pension Plan Contributions$3,939--$3,939
Information Technology$3,735--$3,735
Fees for Services Legal-$3,667-$3,667
Other Employee Benefits$3,122--$3,122
Other Expenses$217--$217
Total Functional Expenses$2,657,476$15,340$0$2,672,816

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,672,816
Total Expenses per Audited Statements$2,672,816
Total Expenses per Form 990$2,672,816
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$1,007,017
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
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
Monica W Lingenfelter
Title
Executive Vice Pres.
Phone
3048765391
Signed
2019-01-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Monica W Lingenfelter
Formed
2016
Legal Domicile
Wv
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
Smith Elliott Kearns & Company LLC
Address
19405 EMERALD SQUARE STE 1400, HAGERSTOWN, MD 21742
Preparer
William F Fritts Ii 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.”

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 13 AND SHOWN ON SCHEDULE R PART V OF THE FORM 990. 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 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/ExplanationTxt2THE ORGANIZATION FOLLOWS THE SAME GUIDELINES FOR CONFLICTS OF INTEREST AS ITS SUPPORTED ORGANIZATION, SHEPHERD UNIVERSITY FOUNDATION, INC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
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ReturnHeader/BuildTS02019-02-21 02:37:17Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0MONICA W LINGENFELTER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE VICE PRES.
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Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$21,585,258
Liabilities
$22,767,816
Net assets
-$1,182,558
Revenue
$1,864,057
Expenses
$2,672,816
Net income
-$808,759
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$17.2$20.3$3.11$1.83$1.77$0.07
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.5$20.7$3.18$1.93$1.91$0.01
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$18.2$21.4$3.19$1.87$2.15$0.27
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.7$21.6$2.92$1.76$2.43$0.67
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.8$21.1$2.25$1.33$1.85$0.52
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$19.7$21.5$1.72$1.48$1.78$0.30
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$20.4$21.9$1.42$1.93$2.17$0.24
2018Detailed filing. Detailed filing data is available for this year.$21.6$22.8$1.18$1.86$2.67$0.81
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$21.6$22.8$1.18$1.86$2.67$0.81
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$24.5$24.8$0.37$0.05$0.38$0.33
2016Summary only. Only limited summary data is available for this year.$23.4$23.5$0.05$0.00$0.05$0.05