Overview
What is Towson University Foundation Inc?
Towson University Foundation Inc, based in Towson, Maryland, is a nonprofit organization dedicated to raising, investing, and disbursing funds for the benefit of Towson University. Their mission is to manage and administer property of all kinds, either given absolutely or by trust, agency, or otherwise, for the promotion of Towson University and its educational and support activities. The foundation is committed to providing students with opportunities to obtain a liberal education, developing critical thinking skills, literacy, and the ability to engage in diverse discussions. To make these opportunities accessible, they offer scholarships and cash awards to deserving students, totaling over $2.2 million in 1,161 separate awards in the fiscal year ending June 30, 2022. In addition to this, 22 students received emergency awards totaling $14,125. The foundation's work is crucial as state funding now accounts for less than a third of the cost of a Towson University education. With the help of generous donors, today's students and tomorrow's leaders can meet their financial obligations. The organization employs a team of four individuals to carry out its mission.
Official website here: www.tufoundation.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 100%, Four-Star out of Four Star rating.
The Towson University Foundation Inc has achieved a perfect score of 100%, reflecting its exceptional performance in the realm of accountability and finance. This four-star rating indicates a strong commitment to transparency and responsible financial management, which is vital for building trust with donors and stakeholders. The evaluation is based entirely on a single beacon score focused on accountability and finance, underscoring the foundation's robust practices in these areas.
Significant strengths include a fully independent board composed of 100% independent members, ensuring unbiased oversight. The organization has also demonstrated exemplary financial practices, with no material diversion of assets and a highly favorable liabilities to assets ratio of just 2.92%. Additionally, the foundation showcases strong program expense efficiency, with nearly 88% of expenditures allocated to programs, indicating a focus on mission-driven activities.
While the foundation scores highly across the board, the data does not indicate any notable limitations. The presence of established policies such as conflict of interest and whistleblower protections further strengthens their governance framework. Overall, the Towson University Foundation Inc stands out as a well-managed and transparent nonprofit organization dedicated to supporting its mission effectively.
This AI summary has been generated from information found on Charity Navigator.
Is Towson University Foundation Inc legitimate?
Towson University Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Towson University Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $153,010
Professional Fundraising Fees: $0
Other Salaries and Wages: $205,328
For more financial information, click here
Official website here: www.tufoundation.org
What is the mission statement of Towson University Foundation Inc?
The Towson University Foundation Inc is dedicated to raising, investing, and disbursing funds for the benefit of Towson University. Its mission is to manage and administer property of all kinds, whether given absolutely, in trust, or by way of agency, to support and promote the university and its educational and support activities. The foundation is committed to providing students with opportunities for a liberal education, enabling them to think critically, be literate and informed, and develop the ability to take responsibility in a changing world. Due to the decreasing state funding for university education, private funding from generous donors becomes increasingly essential, allowing students to meet their financial obligations and pursue their education. In the fiscal year ending June 30, 2022, the foundation made 1,161 separate scholarship awards to deserving students, totaling $2,201,748. Additionally, 22 students received emergency awards, totaling $14,125.
Official website here: www.tufoundation.org
Who is the CEO of Towson University Foundation Inc?
John J Mease Jr is the President of Towson University Foundation Inc.
Official website here: www.tufoundation.org
What is the revenue of Towson University Foundation Inc?
Towson University Foundation Inc's revenue in 2022 was $17,012,996.
Official website here: www.tufoundation.org
Who are the executives of Towson University Foundation Inc and what are their salaries?
The average compensation at Towson University Foundation Inc during 2022 was $89,584. There are 4 employees and 26 volunteers at Towson University Foundation Inc.
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- Compensation: $156,060
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- Other: $11,314
Official website here: www.tufoundation.org
Where can I find the form 990 for Towson University Foundation Inc?
Towson University Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.tufoundation.org
Learn more at the official website: www.tufoundation.org
Mission Statement of Towson University Foundation Inc
Towson University Foundation Inc, a nonprofit organization, is dedicated to raising, investing, and disbursing funds for the benefit of Towson University. Its mission is to manage and administer property of all kinds, either given absolutely, in trust, or by way of agency, for the promotion of Towson University and its educational and support activities.
The foundation is committed to providing students with the opportunity to obtain a liberal education, helping them develop critical thinking skills, literacy, and the ability to articulate ideas from multiple perspectives. With the cost of a Towson University education now accounting for less than a third of state funding, private funding from generous donors enables students to meet their financial obligations and become tomorrow's leaders.
As of June 30, 2022, the foundation had 338 endowed scholarships and awarded additional cash awards to deserving students from existing operating funds. In the fiscal year ending June 30, 2022, the foundation made 1,161 separate scholarship awards to students, totaling $2,201,748. Additionally, 22 students received a total of $14,125 in emergency awards, with individual awards ranging from $50 to $400. The foundation's efforts play a crucial role in supporting the academic pursuits of students at Towson University.
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Impact
October, 2024
Towson University Foundation Inc significantly enhances the educational experience for students by raising, investing, and disbursing funds specifically to benefit Towson University. By focusing on scholarships and awards, the Foundation plays a crucial role in making a liberal education accessible to many students. This type of education fosters critical thinking, effective communication, and the ability to engage with diverse perspectives—skills essential for navigating an ever-changing world.
The Foundation's commitment is evident through its management of 338 endowed scholarships and various cash awards. With state funding now covering less than one-third of educational costs at Towson, private contributions become vital. In the fiscal year ending June 30, 2022, the Foundation awarded 1,161 scholarships totaling over $2.2 million, alongside emergency awards for students facing immediate financial challenges. This robust support not only alleviates financial burdens but also empowers students to achieve their academic and career aspirations, shaping tomorrow’s leaders. By investing in education, Towson University Foundation Inc directly impacts the lives of students and the broader community.
This information is meant to be a general summary of Towson University Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $7,476,431
- Program Service Revenue: $124,583
- Gross Receipts: $41,863,644
Assets and Liabilities:
- Total Assets: $103,275,008
- Total Liabilities: $1,275,511
- Net Assets: $101,999,497
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SALES/MISC/CERAMIC GUILD
Revenue
$100,714
MEMBERSHIP FEES
Revenue
$23,869
Organization Details
Founding Year
1970
Phone
(410) 704-2040Principal Officer
John J Mease Jr
Main Address
8000 YORK ROAD, TOWSON, MD, 212520001
Website
www.tufoundation.orgNTEE Category
Code: B110 - Education
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