Civic Intelligence

Shepherd University Foundation Supporting Organization

990 • Fiscal year 2020 • EIN 81-1054787

Jul 01, 2019 to Jun 30, 2020 • Filed on Jan 06, 2021

Organization Profile
PO Box 5000Shepherdstown, WV 25443

(304) 876-5391

Siviq Scores

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

Liabilities / Assets

95th percentile

1.09x

Higher debt load relative to assets than 95% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

97th percentile

14.53x

Higher debt load relative to revenue than 97% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Net Margin

13th percentile

-20%

Higher net margin than 13% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

39th percentile

$143,571

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 9.7% of source-year revenue.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Asset Growth

15th percentile

-3.4%

Faster asset growth than 15% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

17th percentile

-24%

Faster revenue growth than 17% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets95th percentile

Assets

Down

$19,743,600

Down $689,062 (-3.4%) from 2019

Net Assets

Down

-$1,724,073

Down $301,948 (-21%) from 2019

Liabilities

Down

$21,467,673

Down $387,114 (-1.8%) from 2019

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin13th percentile

Revenue

Down

$1,477,432

Down $454,976 (-24%) from 2019

Expenses

Down

$1,779,380

Down $392,595 (-18%) from 2019

Net Income

Down

-$301,948

Down $62,381 (-26%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth15th percentile

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 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

2020

Assets$19,743,600
Liabilities$21,467,673
Net Assets-$1,724,073
Open 2020 Filing

Operations Trend

Revenue Growth17th percentile

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 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

2020

Revenue$1,477,432
Expenses$1,779,380
Net Income-$301,948
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Jan 6, 2021
Return Version
2019v5.0
Gross Receipts
$1,477,432
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$19,744,584$19,039,967▼ $704,617
Savings and Temporary Cash Investments$607,683$660,200▲ $52,517
Accounts Receivable$31,335$27,807▼ $3,528
Prepaid Expenses and Deferred Charges$14,032$14,745▲ $713
Total Assets$20,432,662$19,743,600▼ $689,062
Other Assets Total$35,028$881▼ $34,147
Liabilities
Mortgage Notes Payable Secured by Investment Property$21,418,621$21,110,949▼ $307,672
Other Liabilities$417,332$338,391▼ $78,941
Accounts Payable and Accrued Expenses$18,834$18,333▼ $501
Total Liabilities$21,854,787$21,467,673▼ $387,114
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-1,422,125$-1,724,073▼ $301,948
Total Net Assets Fund Balance$-1,422,125$-1,724,073▼ $301,948
Total Liabilities and Net Assets / Fund Balance$20,432,662$19,743,600▼ $689,062

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$18,617,966$1,464,334$20,082,300
Equipment$422,001$590,801$1,012,802
Compensation and Service Providers
Top Officer Pay39th percentile

Employees

NameTitleOtherTotal
Monica W LingenfelterExecutive Vi$143,571$143,571

Board Members and Trustees

NameTitle
Christopher S ColbertPresident
Dr Jason BestDirector
Robert JenseniusDirector
Tony PriceDirector
Karl L WolfSecretary
Julia M ConnellTreasurer
Timothy B McsheaVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,473,544
Investment Income
$1,305
Other Revenue
$2,583
Change in Net Assets
$-301,948

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,477,432
Total Revenue per Audited Statements
$1,477,432
Total Revenue per Form 990
$1,477,432
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,625,590
Salaries, Compensation, and Employee Benefits$153,790
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$871,010--$871,010
Depreciation Depletion$705,879--$705,879
Other Salaries and Wages$105,389$20,555-$125,944
Fees for Services Other$13,614$1,801-$15,415
Other Employee Benefits$6,537$5,013-$11,550
Insurance$11,138--$11,138
Fees for Services Accounting-$10,500-$10,500
Payroll Taxes$7,285$1,465-$8,750
Pension Plan Contributions$6,296$1,250-$7,546
Information Technology$5,992--$5,992
Office Expenses$2,700$1,535-$4,235
Other Expenses$182--$182
Total Functional Expenses$1,737,261$42,119$0$1,779,380

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,779,380
Total Expenses per Audited Statements$1,779,380
Total Expenses per Form 990$1,779,380
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$338,391
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Monica W Lingenfelter
Title
Executive Vice Pres.
Phone
3048765391
Signed
2021-01-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Monica W Lingenfelter
Formed
2016
Legal Domicile
Wv
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
7

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 15 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/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 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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$19,743,600
Liabilities
$21,467,673
Net assets
-$1,724,073
Revenue
$1,477,432
Expenses
$1,779,380
Net income
-$301,948
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
2020Detailed filing. Detailed filing data is available for this year.$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
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