2023-12-11T14:36:08-05:00 2023-06-30 203811563 JTGOLDSTEIN 2200 ARCH ST STE 101 PHILADELPHIA PA 191032136 990 2022-07-01 237148064 THE CHEYNEY FOUNDATION CHEY 6103992419 1837 UNIVERSITY CR BIDDELL HALL 207 CHEYNEY PA 19319 LARRY WALKER CHAIRMAN 6103992419 2023-12-07 true LARRY WALKER 999009999 true WILLIAM HENDERSON P02360120 2155253593 2023-12-07 2022 2023-04-26 12:10:37Z THE CHEYNEY FOUNDATION LARRY WALKER 1837 UNIVERSITY CR BIDDELL HALL 207 CHEYNEY PA 19319 676907 false X WWW.CHEYNEYFOUNDATION.ORG X 1971 PA SINCE 1971, THE FOUNDATION HAS GIVEN OVER 2.4 M TO CHEYNEY UNIVERSITY, WHICH HAS BEEN USED TO SUPPORT MANY DIFFERENT UNIVERSITY PROGRAMS, PRIMARILY IN THE FORM OF SCHOLARSHIPS FOR STUDENTS. 4 4 0 0 468040 649800 0 23150 27107 0 491190 676907 264893 147000 0 0 6399 6399 142776 170738 407669 324137 83521 352770 938700 1346984 51915 39020 886785 1307964 THE MISSION OF THE CHEYNEY FOUNDATION IS TO RAISE FUNDS, PROMOTE AND SUPPORT ACADEMIC EXCELLENCE, INNOVATION AND SUSTAINABILITY OF CHEYNEY UNIVERSITY. false false 96000 96000 GRANTING SCHOLARSHIPS AND PROVIDING NEED-BASED FINANCIAL SUPPORT TO THE STUDENTS OF CHEYNEY UNIVERSITY THAT UPHOLD A HIGH LEVEL OF ACADEMIC ACHIEVEMENT. 88029 51000 PROGRAM DISBURSEMENTS TO CHEYNEY UNIVERSITY FOR OPERATING EXPENSES AND PROGRAMMATIC PURPOSES. 184029 true false false false false false false false true true false false false false true true true true false false false false false false false false false true true false false false false false false false false false false false false false false false false false false true 0 0 0 false false false false false false false false X 4 4 false true false false false false false true true false false false true true true true true true true false PA X HOLMES & COMPANY INC 8563204662 210 LAKE DR EAST STE 100 CHERRY HILL NJ 08002 X LARRY WALKER CHAIRMAN 5.00 X X 0 0 0 TIFFANY WILSON VICE CHAIRMA 5.00 X X 0 0 0 BRYAN PHILLIPS TREASURER 5.00 X X 0 0 0 JAZMINE SMITH DIRECTOR 5.00 X 0 0 0 false false false 649800 649800 27107 952 26155 676907 952 26155 X 51000 51000 96000 96000 14709 11032 3677 6399 6399 9515 7136 2379 104187 12267 91920 1391 1391 6458 3229 3229 18000 18000 51 51 6638 6638 1841 1841 DONATIONS & GIFTS 4000 4000 DUES & SUBSCRIPTIONS 3948 1974 1974 324137 184029 133709 6399 370398 308191 568302 1038793 938700 1346984 26450 13555 25465 25465 51915 39020 X -79019 185082 965804 1122882 886785 1307964 938700 1346984 352770 50409 18000 X false true true false X 553863 302354 279083 468040 649800 2253140 553863 302354 279083 468040 649800 2253140 2253140 18419 16680 15424 14978 26155 91656 2344796 82252 0.96090 0.87990 X false true X 744843 74407 9201 868921 713981 -91653 10260 744843 530896 191973 8888 713981 530929 6156 6189 530896 719901 44159 233131 530929 false false ROYALTIES 25365 FUNDS HELD FOR OTHERS 100 25465 X 745316 50409 18000 68409 676907 676907 324137 324137 324137 SCHEDULE D, PAGE 2, PART IV, LINE 2B THE CHENEY FOUNDATION RECEIVES AND DISTRIBUTES ASSETS UNDER CERTAIN AGENCY ARRANGEMENTS. SCHEDULE D, PAGE 3, PART X THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER IRC SECTION 501(A) AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3). SINCE ITS INITIAL FILING FOR TAX-EXEMPT STATUS, THE FOUNDATION HAS NOT RECEIVED ANY NOTICE FROM THE INTERNAL REVENUE SERVICE ("IRS") THAT SUCH TAX-EXEMPT STATUS HAS BEEN CHALLENGED OR CHANGED. THERE WAS NO TAXABLE INCOME AS OF JUNE 30, 2023 AND 2022; THEREFORE, NO PROVISION FOR INCOME TAXES HAS BEEN INCLUDED IN THE FOUNDATION'S FINANCIAL STATEMENTS. THE PREPARATION OF FINANCIAL STATEMENTS IN CONFORMITY WITH ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRES THE FOUNDATION TO REPORT INFORMATION REGARDING ITS EXPOSURE TO VARIOUS TAX POSITIONS TAKEN BY THE FOUNDATION. THE FOUNDATION HAS DETERMINED WHETHER ANY TAX POSITIONS HAVE MET THE RECOGNITION THRESHOLD AND HAVE MEASURED THE FOUNDATION'S EXPOSURE TO THOSE TAX POSITIONS. MANAGEMENT BELIEVES THAT THE FOUNDATION ADEQUATELY ADDRESSED ALL RELEVANT TAX POSITIONS AND THERE ARE NO UNRECORDED TAX LIABILITIES. ANY INTEREST OR PENALTIES ASSESSED TO THE FOUNDATION ARE RECORDED IN EXPENSES. NO INTEREST OR PENALTIES FROM FEDERAL OR STATE TAX AUTHORITIES WERE RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. false CHEYNEY UNIVERSITY 1837 UNIVERSITY CIRCLE CHEYNEY PA 19319 232478688 115 51000 PROGRAM DISBURSEMENT 1 SCHOLARSHIPS 36 96000 SCHEDULE I, PAGE 1, PART I, LINE 2 THE CHEYNEY FOUNDATION MONITORS THE USE OF THE GRANT FUNDS THROUGH ITS DONOR COMPLIANCE SERVICES DEPARTMENT. ON A MONTHLY BASIS, THE EXPENDITURES ARE REVIEWED AND INTERNAL TESTING OF TRANSACTIONS IS COMPLETED. THE DONOR COMPLIANCE SERVICES DEPARTMENT STRIVES TO MONITOR THE EXPENDITURES AND BALANCES OF THE VARIOUS ACCOUNTS, AS WELL AS DEVELOPS STRATEGIES TO ENSURE DONOR COMPLIANCE WITH THE DONOR GIFT AGREEMENTS IN PLACE. SCHOLARSHIPS ARE ISSUED DIRECTLY TO CHEYNEY UNIVERSITY ON BEHALF OF THE STUDENTS AND APPLIED TO EACH STUDENT'S ACCOUNT TO ENSURE THE FUNDS ARE PROPERLY APPLIED TO THE STUDENT'S TUITION. IN THE EVENT THE STUDENT IS NOT ACTIVELY ENROLLED DURING THE SEMESTER THE SCHOLARSHIP IS AWARDED, THE FUNDS ARE RETURNED TO CHEYNEY FOUNDATION. FORM 990, PAGE 6, PART VI, LINE 3 THE TAXPAYER'S FINANCIAL MATTERS ARE OUTSOURCED TO HOLMES & COMPANY LLC, WHICH SERVES AS AN OUTSOURCED CFO FOR THE ENTITY. FORM 990, PAGE 6, PART VI, LINE 11B REVIEWED COMMENTED AND VOTED ON BY BOARD OF DIRECTORS PRIOR TO FILING FORM 990, PAGE 6, PART VI, LINE 12C AT EACH BOARD MEETING ALL MEMBERS ARE REQUIRED TO DISCLOSE ANY CURRENT OR POTENTIAL OUTSIDE RELATIONSHIPS WITH ANY PERSON, BUSINESS, OR ENTITY THAT MAY HAVE THE POTENTIAL FOR AN APPEARANCE OF A CONFLICT OF INTEREST AND/OR PERSONAL ENRICHMENT SHOULD IT ARISE OR BE MADE PUBLIC. FORM 990, PAGE 6, PART VI, LINE 15A THE BOARD OF DIRECTORS DETERMINES APPROPRIATE COMPENSATION FOR THE PRESIDENT/CEO. FORM 990, PAGE 6, PART VI, LINE 15B THE BOARD OF DIRECTORS DETERMINES APPROPRIATE COMPENSATION FOR ANY OFFEICERS OR KEY EMPLOYEES OF THE ORGANIZATION. FORM 990, PAGE 6, PART VI, LINE 19 ALL RECORDS ARE AVAILABLE UPON WRITTEN REQUEST. FORM 990, PART IX, LINE 11G BANK SERVICE CHARGES 1,247 416 0 PROFESSIONAL FEES 10,967 2,089 0 CONSULTANTS 0 87,897 0 WEBPAGE AND SERVER 53 18 0 SUPPLIES 0 1,500 0 TOTAL 12,267 91,920 0