EIN 23-7120883

Frostburg State University Foundation

IRS 501(c) type
501(c)(3)
Num. employees
5
Year formed
1971
Most recent tax filings
2023-06-01
Description
The Frostburg State University Foundation fosters, encourages, and promotes the growth, progress, and general welfare of Frostburg State University through advocacy, fundraising, investment management and stewardship. Expenses are managed through pass-through accounts that provide immediate-impact scholarships for students, a vehicle for life insurance premium payments, and record expenditures. They also provide program support to schools, departments, divisions, special interests, and other projects approved by the university as well as emergency student loans.
Also known as...
Frostburg State University Foundat
Total revenues
$4,127,244
2023
Total expenses
$3,861,874
2023
Total assets
$42,609,827
2023
Num. employees
5
2023

Program areas at Frostburg State University Foundation

Athletic - these provide support for the University athletics program.
Program support - these provide support to schools, departments, divisions, special interests, and other projects approved and recognized by the University. They also support emergency student loans.
Endowment - these provide support for student scholarships and program support.
Expenses including grants of revenue pass through accounts 572,783 75,089 47,587 pass-through - most of these provide immediate-impact scholarships for students. In addition, some provide a vehicle for life insurance premium payments, and to record expenditures that will be directly reimbursed by non-charitable income.

Who funds Frostburg State University Foundation

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
Vanguard Charitable Endowment ProgramFor Recipient's Exempt Purpose$30,100
Hattie M. Strong Foundation (HMSF)Six (6) $5,000 Scholarships$30,000
Fidelity Investments Charitable Gift FundFor Grant Recipient's Exempt Purposes$26,700
...and 20 more grants received totalling $193,529

Personnel at Frostburg State University Foundation

NameTitleCompensation
John T ShortExecutive Director$0
Joseph P GeorgeTreasurer$0
Elizabeth RhodesSecretary$0
Sandra D AdamsPresident$0
Patrick FrielVice President$0
...and 3 more key personnel

Financials for Frostburg State University Foundation

RevenuesFYE 06/2023
Total grants, contributions, etc.$2,473,461
Program services$127,192
Investment income and dividends$1,374,863
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$0
Net income from fundraising events$55,428
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$96,300
Total revenues$4,127,244

Form 990s for Frostburg State University Foundation

Fiscal year endingDate received by IRSFormPDF link
2023-062023-10-17990View PDF
2022-062023-07-12990View PDF
2022-062022-10-17990View PDF
2021-062023-07-12990View PDF
2021-062021-10-28990View PDF
...and 14 more Form 990s
Data update history
February 4, 2024
Received grants
Identified 5 new grant, including a grant for $20,400 from The Trustees of Mcdonough Charity School
December 5, 2023
Posted financials
Added Form 990 for fiscal year 2023
December 4, 2023
Updated personnel
Identified 4 new personnel
October 26, 2023
Received grants
Identified 3 new grant, including a grant for $8,400 from Harry H and Faye I Newman Scholarship Trust
August 19, 2023
Received grants
Identified 13 new grant, including a grant for $30,000 from Hattie M. Strong Foundation (HMSF)
Nonprofit Types
Grantmaking organizationsSchoolsHeadquarter / parent organizationsCharities
Issues
Education
Characteristics
Political advocacyFundraising eventsState / local levelEndowed supportAuction fundraisersTax deductible donations
General information
Address
101 Braddock Rd
Frostburg, MD 21532
Metro area
Cumberland, MD-WV
County
Allegany County, MD
Website URL
frostburg.edu/foundation/index.php 
Phone
(301) 687-4161
IRS details
EIN
23-7120883
Fiscal year end
June
Taxreturn type
Form 990
Year formed
1971
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
B80: Student Services and Organizations of Students
NAICS code, primary
813211: Grantmaking Foundations
Parent/child status
Central organization
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