Norfolk State University Foundation Inc. and Subsidiary
Norfolk State University Foundation Inc. and Subsidiary reported $13.4 million in revenue and $7.1 million in expenses for calendar year 2024. Of every $100 it spent, $84.27 went to program services, $13.20 to management and general costs and $2.53 to fundraising. Its largest source of revenue was contributions and grants: 69.0% of the total. The highest compensation it reported for one person was $556,485 (DIRECTOR). 1 person received more than $100,000 in reportable compensation. Revenue rose 207% between 2019 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $7.1MFor context, the median across 5,499 covered education charities: $85.56 programs, $13.59 management, $0.85 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2024 · Form 990, Part VIII · total revenue $13MThe 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 84.3% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 13.2% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 2.5% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.02 | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 69.0% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 0.0% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $556,485 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 7.88% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 1 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 205.4 | 13.3 |
| Independent voting board members Part VI 1a–1b | 18 of 20 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2024 · Form 990, Part III · the three largest programs by expenseThe foundation made scholarship disbursements this year to over 1,000 Norfolk State University students who are designated by the university to receive scholarships from scholarship funds which have been established by various donors. Need based scholarships are provided to talented, financially disadvantaged students. Many students are able to attend Norfolk State University only because of the generosity and support of private donors who give to the foundation. Merit scholarships provided by the foundation, allows the university to recruit and retain top ranked students from across the…
The foundation provides support services for the benefit of Norfolk State University and its students. The foundation supported educational programs that offered students hands on experience with new partners like icon 360, offshore wind studies, sentara, evms, and about love with tiffany & co., the shawn carter foundation and beygood to name just a few of these amazing opportunities that directly impacted over 600 nsu students. The foundation enables the university to fulfill its mission by supporting programs and initiatives that enrich academic programs, attract and retain quality faculty…
Highest reported compensation
2024 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| DIRECTOR Director/trustee, 0.50 hrs/week | $0 | $545,277 | $11,208 | $556,485 |
| DIRECTOR - NON-VOTING Director/trustee, 0.50 hrs/week | $0 | $290,125 | $11,708 | $301,833 |
| EXECUTIVE DIRECTOR Director/trustee, officer, 48.00 hrs/week | $152,672 | $0 | $0 | $152,672 |
1 people received more than $100,000 in reportable compensation from Norfolk State University Foundation Inc. and Subsidiary (Part VII, line 2). Compensation of current officers, directors and key employees totaled $153K (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2024 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b20 · 18 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aNo
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 55
- Volunteers Part I, line 626
Private foundation grants it received
10 private foundations reported grants to Norfolk State University Foundation Inc. and Subsidiary totaling $117K on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Norfolk State University Foundation Inc. and Subsidiary's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Norfolk State University Foundation Inc. and Subsidiary, you can publish a response that is linked from this page.
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Of every $100 Norfolk State University Foundation Inc. and Subsidiary spent in 2024, $84.27 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Imhotep Institute Charter High SchoolPhiladelphia, PA · revenue $13M · programs 72.3% · FY2025
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- Open Staffing FoundationSan Francisco, CA · revenue $13M · programs 99.7% · 2024
- Mountain Heights AcademySalt Lake City, UT · revenue $13M · programs 82.7% · FY2025
Questions people ask
How much of Norfolk State University Foundation Inc. and Subsidiary's spending goes to programs?
In calendar year 2024, Norfolk State University Foundation Inc. and Subsidiary reported that 84.3% of its $7.1 million in expenses went to program services, 13.2% to management and general and 2.5% to fundraising (Form 990, Part IX).
How much does Norfolk State University Foundation Inc. and Subsidiary pay its top executive?
The largest total compensation Norfolk State University Foundation Inc. and Subsidiary reported for one person in calendar year 2024 was $556,485, for the role of DIRECTOR (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Norfolk State University Foundation Inc. and Subsidiary get its money?
Of $13.4 million in revenue in calendar year 2024, 69.0% came from contributions and grants and 0.0% from program service revenue (Form 990, Part VIII).
Is Norfolk State University Foundation Inc. and Subsidiary a registered charity?
The IRS lists EIN 23-7235954 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2024: Form 990 for calendar year 2024, object 202513189349309061 · read the filing · XML
- 2023: Form 990 for calendar year 2023, object 202443189349309234 · read the filing
- 2022: Form 990 for calendar year 2022, object 202333129349304453 · read the filing
- 2021: Form 990 for calendar year 2021, object 202223199349303407 · read the filing
- 2020: Form 990 for calendar year 2020, object 202143169349300844 · read the filing
- 2019: Form 990 for calendar year 2019, object 202003159349300230 · read the filing
All filings for EIN 23-7235954: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.