Southern Connecticut State University Foundation Inc

Nonprofit profile at a glance

EIN
237208882
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
New Haven, CT, USA
Phone
2033926191
Rating
90
Verdict
STRONG
Rating confidence
Moderate
Sector
University or Technological Institute

Official website

Reported finances

Revenue
$4,522,163
Expenses
$5,325,004
Assets
$58,662,738
Liabilities
$1,061,385

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

26 people listed

Executive titles in this filing

  • MICHAEL KINGAN (EXECUTIVE DIRECTOR)

People named in this filing

  • CHRISTOPHER BORAJKIEWICZ (BOARD CHAIR)
  • EDMUND MARCARELLI (DIRECTOR)
  • J PHILIP SMITH (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Southern Connecticut state university foundation, inc. (the "foundation") exists to assist southern Connecticut state university (the "university") in fulfilling its mission and achieving its vision through the development, stewardship, and delivery of private financial resources. The foundation delivers financial management of the private resources received through the investment of contributions for any or all of the educational support activities that may be conducted by the university.

What it reported doing in 2024

Scholarships & awards - provide financial assistance to students enrolled in the university to assist them in obtaining their undergraduate and graduate degrees and/or recognize them for specific accomplishments they have achieved in an area of study.

Operating model

Revenue model
Donor-supported. 95% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 94
  • Accountability: 100
  • Sustainability: 51
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 91.2%; rating input score 91
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -17.8%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 11.02; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 81; 81st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 10.2% per year; rating input score 100; 65th percentile among comparable filings
  • Revenue growth: 4.7% per year; rating input score 100; 39th percentile among comparable filings
  • Asset growth: 8.1% per year; rating input score 100; 50th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 91.2% of spending went to programs
  • Governance: 25 of 25 board members independent · 7 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $4.9M in reported program spending
  • Leadership: top reported pay $0 · 26 people listed
  • Consistency: 32 of 32 current checks pass
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Operating margin scored 8/100.