2017-12-19T15:09:46-06:00 2017-06-30 202153727 SB & Company LLC 200 International Circle Suite 5500 Hunt Valley MD 21030 990 2016-07-01 201372435 Delaware State University Foundation Inc DELA 3028576055 1200 North Dupont Highway Dover DE 19901 Dr Vita Pickrum CFRE President 3028576055 2017-12-18 1 Pamela Gray P01237506 4105840060 2017-12-18 173.67.4.201 2017-12-18 22:09:10 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 A64316C887BAD1FA0ED2A5517F0565D43309871F 2016 2018-03-14 21:41:22Z Dr Vita Pickrum CFRE 1200 North Dupont Highway Dover DE 19901 4007340 0 X www.desu.edu X 2006 DE To secure and administer private funds in support of academic programs, student scholarships, faculty development, public service initiatives, and other priorities of Delaware State University. 4 2 7 0 0 0 3479071 2656094 0 0 33950 698087 -64598 180718 3448423 3534899 1793878 1559827 0 0 0 0 0 0 26669 1792195 2155535 3586073 3715362 -137650 -180463 20691464 21135639 686691 427022 20004773 20708617 X Delaware State University Foundation, Inc promotes and fosters the educational interests of Delaware State University, a publicly supported institution of higher education and a corporation of the State of Delaware. The Foundation seeks to create a sizeable monetary fund to be used for any program, project, or enterprise undertaken in the interest of the University. 0 0 3606380 1559827 To create a large monetary fund to support the programs, projects, students, and enterprise undertaken in the interest of Delaware State University. 3606380 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 53 0 1 7 1 0 0 0 0 0 1 1 0 0 X 4 2 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 0 0 0 DE X X The Organization 3028576055 1200 North Dupont Highway Dover DE 19901 Vita Pickrum Foundation President 4.00 60.00 X X 0 218104 0 Jose' Echeverri Scretary/Treasurer/Director 4.00 5.00 X X 0 0 0 Barry Granger Chairman/Director 4.00 X 0 0 0 Harry Williams University President/Director 5.00 60.00 X X 0 356369 0 Henrietta Savage Comptroller 4.00 60.00 X 0 60900 30450 0 635373 30450 0 0 1 0 Loockerman Catering 1200 N Dupont Hwy DOVER DE 19901 Various Catering Events 120242 1 87053 2569041 2656094 339277 339277 709056 350246 358810 358810 358810 302913 87053 122195 180718 180718 3534899 0 0 878805 X 1559827 1559827 8400 7980 420 654920 625436 29484 541695 493045 48650 3102 3102 116126 112367 3759 13123 13123 15238 15238 Other Program Expenses 776262 776262 Campaign Fundraising 26669 26669 3715362 3606380 82313 26669 4162349 4075360 1857287 1219261 172500 55000 62738 117500 13605942 14905275 1003148 818243 20691464 21135639 72236 4570 377870 253076 236585 169376 686691 427022 X 869494 958008 11026596 11526515 8108683 8224094 20004773 20708617 20691464 21135639 X -180463 904875 -20568 X X 0 1 X 0 0 X X X 1 Delaware State University 510305893 2 1 1559827 0 1 1559827 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 12981120 115411 1602940 422526 14276945 13543456 70463 -161358 471441 12981120 13801349 248503 61227 567623 13543456 11470085 1218087 1490066 376889 13801349 10427404 409053 1008802 375174 11470085 0.57600 0.42400 0 0 70000 4167 65833 102500 50833 51667 117500 Money Market Funds 29584 F Fixed Income Funds 3942848 F US Equity Funds 6023079 F Non-US Equity Funds 3674939 F Leading Edge Ventures I 50000 C Mutual Fund 1184825 F 14905275 Due to Delaware State University 94000 Charitable Gift Annuity Payable 75376 169376 X 4561969 904875 122195 1027070 3534899 0 3534899 3858125 142763 142763 3715362 0 3715362 Part V, Line 4: Scholarships and University support. Part X, Line 2: The Foundation is exempt from taxation other than net unrelated business income tax under the provisions of Section 501(c)(3) of the Internal Revenue Code. Accordingly, no income tax expense has been provided in the accompanying financial statements. The Foundation has adopted the authoritative guidance relating to accounting for uncertainty in income taxes. These provisions provide consistent guidance for the accounting for uncertainty in income taxes recognized in an entity's financial statements and prescribe a threshold of "more likely than not" for recognition of tax positions taken or expected to be taken in a tax return. The Foundation performed an evaluation of uncertain tax positions as of June 30, 2017, and determined that there were no matters that would require recognition in the accompanying financial statements or which may have any effect on its tax-exempt status. As of June 30, 2017, the statute of limitations for fiscal years 2014 through 2017 remains open with the U.S. Federal jurisdiction or the various states and local jurisdictions in which the Foundation files tax returns. It is the Foundation's policy to recognize interest and/or penalties related to uncertain tax positions, if any, in income tax expense. Part XI, Line 2d - Other Adjustments: Fundraising Expenses 122,195. Part XII, Line 2d - Other Adjustments: Fundraising Expenses 122,195. Loss on Interest in Schwartz Center 20,568. President's Scholarship Ball 92210 63900 28310 30274 21625 26974 First Lady's Hats & Gloves Tea 44520 18600 25920 16364 0 8688 7 75397 4553 70844 0 0 0 212127 87053 125074 46638 21625 35662 103925 21149 1 Delaware State University 510305893 501(c)(3) 1559827 To support academic programs, student scholarships, faculty development, public service initiatives, and other priorities of Delaware State University. 1 0 0 0 0 0 0 0 0 0 Vita Pickrum Foundation President 0 218104 0 0 0 0 0 0 0 0 0 218104 0 0 Harry Williams University President/Director 0 356369 0 0 0 0 0 0 0 0 0 356369 0 0 Form 990, Part VI, Section A, line 8b The Delaware State University Foundation does not have a committee with authority to act on behalf of the governing body. Form 990, Part VI, Section B, line 11b Each board member receives a copy of the 990 to review and to make any comments are changes. Once all changes and a final approval is received from each board members, the 990 form is signed by the Controller or President and mailed. Form 990, Part VI, Section B, line 12c We are getting recertifications from board members and will do it annually. Currently our board membership is static and small discussions concerning conflicts are informally held during the term of the members. Form 990, Part VI, Section C, line 19 The Delaware State University Foundation makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. Form 990, Part IX, line 11g Other professional fees: Program service expenses 625,436. Management and general expenses 29,484. Fundraising expenses 0. Total expenses 654,920. Form 990, Part XI, line 9: Non operating expense -20,568. Form 990, Part XII, Line 2c: The process has not changed from prior year. Delaware State University 1200 N DuPont Highway Dover DE 19901 510305893 Education DE 501(c)(3) 170(b)(1)(A)(ii) N/A 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0