2024-11-21T10:18:18-06:00 2023-06-30 410746749 CLIFTONLARSONALLEN LLP 901 NORTH GLEBE ROAD SUITE 200 ARLINGTON VA 22203 990 2022-07-01 237279944 COLLEGE OF SOUTHERN MARYLAND FOUNDATION INC COLL 3019342251 PO BOX 910 LAPLATA MD 206460910 DR YOLANDA WILSON PRESIDENT 3019342251 2024-10-16 1 0 ROBERT WILLIAMS CPA P01345960 5712279500 2024-10-09 2022 2024-10-15 13:58:12Z X DR YOLANDA WILSON PO BOX 910 LAPLATA MD 206460910 5254160 0 X WWW.CSMD.EDU/FOUNDATION X 1970 MD SOLICIT AND INVEST FUNDS TO SUPPORT EDUCATIONAL ACTIVITIES OF THE COLLEGE OF SOUTHERN MARYLAND. 23 23 0 23 0 0 1713509 1032131 0 0 368395 295987 -6647 -14699 2075257 1313419 931429 1114989 0 0 10081 11374 0 0 30814 138765 185499 1080275 1311862 994982 1557 15455260 16515854 41697 67435 15413563 16448419 X THE COLLEGE OF SOUTHERN MARYLAND (CSM) FOUNDATION, INC OPERATES EXCLUSIVELY FOR THE CHARITABLE AND EDUCATIONAL PURPOSES OF SUPPORTING THE COLLEGE OF SOUTHERN MARYLAND AND ITS STUDENTS AND FACULTY. CONTINUED ON SCHEDULE O.COMPRISED OF AN ALL-VOLUNTEER TRI-COUNTY BOARD OF DIRECTORS, THE CSM FOUNDATION RAISES FRIENDS AND FUNDS TO SUPPORT STUDENTS AND COLLEGE INITIATIVES. WE PROMOTE SCHOLARSHIPS, PROGRAMS, TECHNOLOGY, PROFESSIONAL DEVELOPMENT AND SPECIAL PROJECTS THAT STRENGTHEN AND DEVELOP CSM AND OUR STUDENTS. 0 0 1135840 1114989 DURING FISCAL YEAR 2023, THE FOUNDATION FUNDED SCHOLARSHIPS TO 852 DIFFERENT STUDENTS AWARDED BY THE COLLEGE OF SOUTHERN MARYLAND, MADE DONATIONS TO THE COLLEGE'S TECHNOLOGY RESOURCES, PHYSICAL EDUCATION WELLNESS CENTER, AND SUPPORTED OTHER PROGRAMS FOR THE BENEFIT OF THE COLLEGE, ITS FACULTY, AND STUDENTS. 1135840 1 1 0 0 0 0 0 0 0 1 0 0 0 1 0 1 1 0 0 0 0 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 X 23 23 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 MD X JUDITH MILLS 3019342251 PO BOX 910 LA PLATA MD 20646 RANDALL WILLIAMS CHAIR 0.40 0.00 X X 0 0 0 KIMBERLY ROSENFIELD IMMEDIATE PAST CHAIR 0.40 0.00 X X 0 0 0 TREY PROCTOR VICE CHAIR 0.40 0.00 X X 0 0 0 JOSE GONZALEZ TRUSTEE LIAISON 0.10 0.00 X 0 0 0 BRENDA LOWE DIRECTOR 0.10 0.00 X 0 0 0 DEXTER BORDES DIRECTOR 0.10 0.00 X 0 0 0 DANIELLE CONROW DIRECTOR 0.10 0.00 X 0 0 0 NATALIE COTTON DIRECTOR 0.10 0.00 X 0 0 0 MARY HANNAH DIRECTOR 0.10 0.00 X 0 0 0 THEODORE HARWOOD DIRECTOR 0.10 0.00 X 0 0 0 CAROLYN HEITHAUS DIRECTOR 0.10 0.00 X 0 0 0 JANNA JACKSON DIRECTOR 0.10 0.00 X 0 0 0 JULIE LEMMON DIRECTOR 0.10 0.00 X 0 0 0 MICHAEL MEISEL DIRECTOR 0.10 0.00 X 0 0 0 DIXIE MILLER DIRECTOR 0.10 0.00 X 0 0 0 JAMES NORRIS JR DIRECTOR 0.10 0.00 X 0 0 0 DAVID OSTERHOUSE DIRECTOR 0.10 0.00 X 0 0 0 KELLY ROBERTSON-SLAGLE DIRECTOR 0.10 0.00 X 0 0 0 HARRY SHASHO DIRECTOR (UNTIL 12/22) 0.10 0.00 X 0 0 0 TERESA TIKI SHASHO DIRECTOR 0.10 0.00 X 0 0 0 SAMANTHA STRATCHKO DIRECTOR 0.10 0.00 X 0 0 0 KEVIN SWITICK DIRECTOR 0.10 0.00 X 0 0 0 DENNIS ERIC VREM DIRECTOR 0.10 0.00 X 0 0 0 JOANNA YAKAITIS DIRECTOR 0.10 0.00 X 0 0 0 JUDITH MILLS VICE PRESIDENT, DIVISION OF FINANCIAL SERVICES 8.00 32.00 X 0 122186 21784 DR MAUREEN MURPHY SECRETARY/TREASURER 3.00 40.00 X 0 335005 67781 DR YOLANDA WILSON SECRETARY/TREASURER 3.00 40.00 X 0 265126 32248 CHELSEA CLUTE EXECUTIVE DIRECTOR 8.00 32.00 X 0 79911 14528 TONI KRUSZKA ALUMNI AND DONOR RELATIONS MANAGER 8.00 32.00 X 0 79855 20218 0 882083 156559 0 0 1 0 0 68768 963363 30068 1032131 296020 296020 3915209 3915242 -33 -33 -33 10800 68768 25499 -14699 -14699 1313419 0 0 281288 146792 146792 968197 968197 9152 9152 1470 1470 752 752 12695 12695 98819 19533 48746 30540 64192 64192 274 274 SUBSCRIPTIONS 8201 8201 1318 1318 1311862 1135840 145208 30814 2339459 878509 180118 282754 10056392 12195408 2879291 3159183 15455260 16515854 41697 67435 41697 67435 X 558181 520756 14855382 15927663 15413563 16448419 15455260 16515854 X 1557 753407 279892 X 0 1 X 1 0 X 917501 1011320 1030207 1713509 1042856 5715393 317214 362808 296042 316728 318232 1611024 1234715 1374128 1326249 2030237 1361088 7326417 1317647 6008770 368920 355208 295055 368380 296090 1683653 9010070 0.66690 0.69990 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 9459751 154535 995909 267484 10342711 10815062 209644 -1349848 215107 9459751 8436644 222516 2173458 17556 10815062 8221169 115510 315918 215953 8436644 7803330 308680 299245 190086 8221169 0.00553 0.90163 0.09284 0 0 0 BENEFICIAL INTEREST IN CHARITABLE TRUSTS 3133419 CASH SURRENDER VALUE OF LIFE INSURANCE 25764 3159183 X 2690449 753407 318232 279892 1351531 1338918 -25499 -25499 1313419 1655593 318232 25499 343731 1311862 0 1311862 PART V, LINE 4: THE FOUNDATION'S ENDOWMENT CONSISTS OF APPROXIMATELY 78 INDIVIDUAL FUNDS (THE FUNDS) ESTABLISHED FOR A VARIETY OF PURPOSES. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP), NET ASSETS ASSOCIATED WITH THE ENDOWMENT FUNDS ARE REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. THE ENDOWMENT CONSISTS OF DONOR RESTRICTED ENDOWMENT FUNDS AND BOARD-DESIGNATED ENDOWMENTS. PART X, LINE 2: ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT OF AN ORGANIZATION TO EVALUATE TAX POSITIONS TAKEN BY THE ORGANIZATION AND RECOGNIZE AN INCOME TAX LIABILITY IF THE ORGANIZATION HAS TAKEN A POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS. MANAGEMENT HAS EVALUATED THE TAX POSITIONS TAKEN BY THE FOUNDATION AND CONCLUDED THAT AS OF JUNE 30, 2023 THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF BENEFICIAL INTEREST IN CHARITABLE TRUST 280,374. CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE -482. PART XI, LINE 4B - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EVENT EXPENSES -25,499. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EVENT EXPENSES 25,499. ANNUAL GOLF TOURNAMENT 79568 68768 10800 2372 16974 6153 79568 68768 10800 2372 16974 6153 25499 -14699 1 COLLEGE OF SOUTHERN MARYLAND 8730 MITCHELL RD LA PLATA MD 20646 520848273 STATE OF MARYLAND 146792 0 N/A N/A TO PROVIDE RESOURCES TO THE COLLEGE IN FURTHERANCE OF THEIR EDUCATION MISSION. 1 0 SCHOLARSHIPS 852 968197 N/A N/A PART I, LINE 2: THE EXECUTIVE DIRECTOR AND THE DEVELOPMENT OPERATIONS COORDINATOR REVIEW ALL GRANTS THAT ARE AWARDED TO THE CSM FOUNDATION. THE GRANT IS TRACKED IN OUR CRM, RAISER'S EDGE, AND MONITORED/EXECUTED USING COLLEAGUE (PROGRAMING TRANSFERS TO COLLEGE) AND ACADEMIC WORKS (SCHOLARSHIP AWARDING). FINANCIAL REPORTS ARE REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS. 0 0 0 0 0 0 0 0 0 DR MAUREEN MURPHY SECRETARY/TREASURER 0 324176 0 0 0 10829 0 24288 0 43493 0 402786 0 0 DR YOLANDA WILSON SECRETARY/TREASURER 0 233426 0 0 0 31700 0 20010 0 12238 0 297374 0 0 PART I, LINE 3 THE FOUNDATION MAKES NO DIRECT COMPENSATION PAYMENTS. EMPLOYEES ARE PAID BY THE COLLEGE OF SOUTHERN MARYLAND. THE COLLEGE'S HUMAN RESOURCE DEPARTMENT MONITORS THE COMPENSATION PROGRAM BASED ON ONGOING ANALYSIS OF JOB FUNCTIONS AND MARKET WAGE/BENEFIT RATES. A BOARD COMMITTEE OVERSEES THE OVERALL COMPENSATION PROGRAMS AND RECOMMENDS POLICY TO THE BOARD FOR APPROVAL. THE COLLEGE'S BOARD OF TRUSTEES APPROVES THE OVERALL COMPENSATION PROGRAM FOR ALL EMPLOYEES, INCLUDING THE EXECUTIVE DIRECTOR OF THE FOUNDATION. X 1 2000 FAIR MARKET VALUE X FACILITY RENTAL AND CATERING 1 17600 RETAIL VALUE X GOLF CLASSIC DONATIONS 21 10468 RETAIL VALUE 0 0 1 0 FORM 990, PART VI, SECTION A, LINE 1A THE BOARD OF DIRECTORS SHALL DELEGATE ITS POWER TO MANAGE, DIRECT, AND CONTROL THE OPERATION AND AFFAIRS OF THE FOUNDATION TO THE EXECUTIVE COMMITTEE. ALL ACTIONS OF THE EXECUTIVE COMMITTEE SHALL BE REPORTED TO THE DIRECTORS AT THE NEXT MEETING OF THE BOARD. THE EXECUTIVE COMMITTEE SHALL CONSIST OF CURRENT OFFICERS OF THE BOARD, A COLLEGE TRUSTEE REPRESENTATIVE, AND CHAIRS OF STANDING COMMITTEES. FORM 990, PART VI, SECTION B, LINE 11B THE COLLEGE OF SOUTHERN MARYLAND DEPARTMENT OF FINANCIAL SERVICES, THE VICE PRESIDENT OF ADVANCEMENT, AND THE AUDIT AND EXECUTIVE COMMITTEES OF THE BOARD OF DIRECTORS OVERSEE THE PREPARATION OF THE 990 BY THE CPA FIRM THAT AUDITS THE FOUNDATION. BOTH VICE PRESIDENTS REVIEW THE 990 AND PRESENT IT TO THE FOUNDATION'S BOARD OF DIRECTORS AND THE PRESIDENT OF THE COLLEGE BEFORE IT IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION'S CONFLICT OF INTEREST POLICY APPLIES TO ANY DIRECTOR OF A BOARD OR COMMITTEE WITH BOARD DELEGATED POWERS. IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE ENTIRE CSM FOUNDATION BOARD OR TO THE FOUNDATION EXECUTIVE COMMITTEE CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE BOARD OR COMMITTEE MEETING IF REQUESTED TO DO SO WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. AN INTERESTED PERSON MAY MAKE A PRESENTATION AT THE BOARD OR COMMITTEE MEETING, BUT AFTER THE PRESENTATION, HE/SHE SHALL LEAVE THE MEETING IF REQUESTED TO DO SO DURING THE DISCUSSION OF, AND THE VOTE ON, THE TRANSACTION OR ARRANGEMENT INVOLVING THE POSSIBLE CONFLICT OF INTEREST. THE CHAIRPERSON OF THE BOARD OR COMMITTEE SHALL, IF APPROPRIATE AND AT HIS DISCRETION, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER EXERCISING DUE DILIGENCE, THE BOARD OR COMMITTEE SHALL DETERMINE WHETHER THE TRANSACTION OR ARRANGEMENT IS REASONABLE AND PRICED AT FAIR MARKET VALUE. PROVIDED, HOWEVER, THAT IN NO EVENT SHALL A DIRECTOR WITH A CONFLICT OF INTEREST VOTE ON THE MATTER. THE MINUTES OF THE BOARD AND ALL COMMITTEES WITH BOARD DELEGATED POWERS SHALL CONTAIN: THE NAMES OF THE PERSONS WHO DISCLOSED OR OTHERWISE WERE FOUND TO HAVE A FINANCIAL INTEREST IN CONNECTION WITH AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, THE NATURE OF THE FINANCIAL INTEREST, ANY ACTION TAKEN TO DETERMINE WHETHER A CONFLICT OF INTEREST WAS PRESENT, AND THE BOARDS OR COMMITTEE'S DECISION AS TO WHETHER A CONFLICT OF INTEREST IN FACT EXISTED; THE NAMES OF THE PERSONS WHO WERE PRESENT FOR DISCUSSIONS AND VOTES RELATING TO THE TRANSACTION OR ARRANGEMENT AND A RECORD OF ANY VOTES TAKEN IN CONNECTION WITH THE PROCEEDINGS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE ON ITS WEBSITE AND UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF BENEFICIAL INTEREST IN A CHARITABLE TRUST 280,374. CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE -482. FORM 990, PAGE 1, SECTION B: THE 2022 COLLEGE OF SOUTHERN MARYLAND FOUNDATION FORM 990 HAS BEEN AMENDED. THE CHANGES MADE TO THE FORM 990 ARE AS FOLLOWS: FORM 990, PART VIII, LINE 1C WAS PREVIOUSLY $79,493 AND DECREASED TO $68,768. FORM 990, PART VIII, LINE 8A WAS PREVIOUSLY $75 AND INCREASED TO $10,800. SCHEDULE G, PART II, LINE 2(A) WAS PREVIOUSLY $79,493 AND DECREASED TO $68,768. COLLEGE OF SOUTHERN MAYLAND 8730 MITCHELL ROAD LA PLATA MD 20646 520848273 COLLEGE - EDUCATION MD N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 COLLEGE OF SOUTHERN MARYLAND O 332069 FMV COLLEGE OF SOUTHERN MARYLAND B 146792 FMV COLLEGE OF SOUTHERN MARYLAND R 968197 FMV