Cleveland State University Foundation
Cleveland State University Foundation
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About this organization
Mission
THE CLEVELAND STATE UNIVERSITY FOUNDATION IS ORGANIZED PRIMARILY TO ENGAGE IN ACTIVITIES AND PROGRAMS TO PROVIDE SUPPORT AND SERVICES TO CLEVELAND STATE UNIVERSITY.
About
THE CLEVELAND STATE UNIVERSITY FOUNDATION (CSUF) IS A NON-PROFIT ORGANIZATION INCORPORATED UNDER THE LAWS OF THE STATE OF OHIO AND TAX-EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. AN OUTRIGHT GIFT TO THE CSUF IS A FULLY TAX-DEDUCTIBLE CHARITABLE DONATION. THE CSUF DOES NOT RECEIVE PUBLIC FUNDS, SUCH AS STATE AND FEDERAL GRANTS. STATE OF OHIO APPROPRIATIONS HELP FUND THE UNIVERSITY'S BASIC OPERATIONS. OTHER SOURCES OF REVENUE, SUCH AS STUDENT FEES AND AUXILIARY SERVICES, HELP MEET BASIC OPERATING COSTS NOT COVERED BY STATE FUNDING. PRIVATE SUPPORT, GENERATED THROUGH GIFTS TO THE CSUF, PROVIDES THE UNIVERSITY A MARGIN OF EXCELLENCE BY CREATING FOR STUDENTS AND FACULTY RESOURCE OPPORTUNITIES FROM PRIVATE FUNDRAISING THAT WOULD OTHERWISE NOT BE AVAILABLE. THE FOUNDATION FURTHER SERVES THE UNIVERSITY BY MAINTAINING PRIVATE FUND ACCOUNTS (ENDOWMENT AND CURRENT USE) FROM ONE FISCAL YEAR TO THE NEXT. THE CSUF IS GOVERNED BY AN INDEPENDENT VOLUNTEER BOARD OF DIRECTORS, CONSISTING OF NO MORE THAN 50 DIRECTORS, AND EX-OFFICIO DIRECTORS, INCLUDING THE PRESIDENT OF THE UNIVERSITY. THE FOUNDATION'S FINANCIAL RECORDS ARE AUDITED ANNUALLY BY INDEPENDENT AUDITORS. GIFTS RECEIVED BY THE FOUNDATION FALL INTO TWO BASIC CATEGORIES: RESTRICTED AND UNRESTRICTED. UNRESTRICTED GIFTS MAY BE USED FOR UNIVERSITY PRIORITIES, PROGRAMS AND SERVICES NOT SUPPORTED BY STATE FUNDS, ENDOWMENT INCOME, OR OTHER SOURCES. MOST GIFTS RECEIVED ARE RESTRICTED FOR SPECIFIC PURPOSES AS DIRECTED BY THE DONORS, THE FOUNDATION, AND THE UNIVERSITY. FOR EXAMPLE, RESTRICTED GIFTS CAN BE DIRECTED TO A SPECIFIED ACADEMIC DEPARTMENT, SCHOLARSHIP, ETC. WHETHER RESTRICTED OR UNRESTRICTED, ANNUAL GIFTS ARE USUALLY SPENT WITHIN THE YEAR THEY ARE RECEIVED. ENDOWMENT FUNDS ARE POOLED WITH OTHER GIFTS AND INVESTED. UNDER THE DIRECTION OF THE FOUNDATION'S INVESTMENT COMMITTEE, ENDOWMENTS ARE INVESTED BY PROFESSIONAL FUND MANAGERS FOR MAXIMUM YIELD WITH MINIMUM RISK. ENDOWMENT FUNDS SUPPORT GENERAL UNIVERSITY OPERATIONS, ALL NINE ACADEMIC COLLEGES, THE SCHOOL OF NURSING, ATHLETICS, AND THE LIBRARY. IN FISCAL YEAR 2019, THE FOUNDATION RECEIVED $11 MILLION IN NEW GIFTS AND PLEDGES, INCLUDING $2.8 MILLION FOR SCHOLARSHIPS. MORE THAN $1 MILLION WAS RAISED AT RADIANCE, THE FOUNDATION'S ANNUAL EVENT IN SUPPORT OF SCHOLARSHIPS. SINCE 2010, RADIANCE HAS RAISED MORE THAN $9 MILLION, PROVIDING MORE THAN 2,000 SCHOLARSHIPS TO HELP STUDENTS STAY IN SCHOOL AND ON TRACK TO GRADUATION. AT CSU, 30% OF STUDENTS ARE FROM UNDERREPRESENTED MINORITY POPULATIONS AND MORE THAN 40% OF UNDERGRADUATES ARE THE FIRST IN THEIR FAMILIES TO ATTEND COLLEGE. MORE THAN HALF OF UNDERGRADUATES RECEIVING FEDERAL AID QUALIFY FOR THE MAXIMUM AMOUNT AND 88% OF FIRST-TIME, FULL-TIME FRESHMEN RELY ON FINANCIAL ASSISTANCE.
Interesting data from their 2020 990 filing
The non-profit's mission is outlined in the filing as being “The foundation exists primarily to raise, receive, and manage private gifts for the advancement and benefit of cleveland state university and its students and faculty. our mission is to improve access to higher education and the quality of that education by providing financial aid and grants.”.
When outlining its responsibilities, they were referred to as: “The cleveland state university foundation is organized primarily to engage in activities and programs to provide support and services to cleveland state university.”.
- The state in which the non-profit operates has been officially reported as OH.
- The filing reveals the non-profit's address in 2020 to be 2121 EUCLID AVENUE NO UN 501, CLEVELAND, OH, 441152214.
- As per the non-profit's form for 2020, they have 0 employees on their payroll.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is $6,395,354.
- The organization has 41 independent voting members.
- The organization was formed in 1969.
- The organization pays $0 in salary, compensation, and benefits to its employees.
- The organization pays $147,023 in fundraising expenses.