2025-05-09T11:26:01-05:00 2024-06-30 410746749 CLIFTONLARSONALLEN LLP 950 NORTH GLEBE ROAD SUITE 1200 ARLINGTON VA 22203 990 2023-07-01 237279944 COLLEGE OF SOUTHERN MARYLAND FOUNDATION INC COLL 3019342251 PO BOX 910 LAPLATA MD 206460910 DR YOLANDA WILSON PRESIDENT 3019342251 2025-05-08 1 0 ROBERT WILLIAMS CPA P01345960 5712279500 2025-05-07 2023 2025-03-06 01:10:19Z DR YOLANDA WILSON PO BOX 910 LAPLATA MD 206460910 4266390 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 1042856 1350343 0 0 295987 373240 -25424 -21731 1313419 1701852 1114989 1644492 0 0 11374 6790 0 0 510 185499 162416 1311862 1813698 1557 -111846 16515854 17781387 67435 33375 16448419 17748012 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 1656492 1644492 DURING FISCAL YEAR 2024, THE FOUNDATION FUNDED SCHOLARSHIPS TO 1,196 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. 1656492 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 0.10 X X 0 0 0 KIMBERLY ROSENFIELD IMMEDIATE PAST CHAIR 0.40 X X 0 0 0 BRENDA LOWE VICE CHAIR 0.40 X X 0 0 0 TREY PROCTOR VICE CHAIR 0.10 X X 0 0 0 JOSE GONZALEZ TRUSTEE LIAISON 0.10 X 0 0 0 DEXTER BORDES DIRECTOR 0.10 X 0 0 0 DANIELLE CONROW DIRECTOR 0.10 X 0 0 0 NATALIE COTTON DIRECTOR 0.10 X 0 0 0 MARY HANNAH DIRECTOR 0.10 X 0 0 0 THEODORE HARWOOD DIRECTOR 0.10 X 0 0 0 CAROLYN HEITHAUS DIRECTOR 0.10 X 0 0 0 JANNA JACKSON DIRECTOR 0.10 X 0 0 0 JULIE LEMMON DIRECTOR 0.10 X 0 0 0 DIXIE MILLER DIRECTOR 0.10 X 0 0 0 JAMES NORRIS JR DIRECTOR 0.10 X 0 0 0 DAVID OSTERHOUSE DIRECTOR 0.10 X 0 0 0 DOMINIC POWELL DIRECTOR 0.10 X 0 0 0 KELLY ROBERTSON-SLAGLE DIRECTOR 0.10 X 0 0 0 TERESA TIKI SHASHO DIRECTOR 0.10 X 0 0 0 SAMANTHA STRATCHKO DIRECTOR 0.10 X 0 0 0 KEVIN SWITICK DIRECTOR 0.10 X 0 0 0 DENNIS ERIC VREM DIRECTOR 0.10 X 0 0 0 JOANNA YAKAITIS DIRECTOR 0.10 X 0 0 0 DAWN YEITRAKIS DIRECTOR 0.10 X 0 0 0 JUDITH MILLS CFO 8.00 40.00 X 0 139220 27046 DR YOLANDA WILSON SECRETARY/TREASURER 3.00 40.00 X 0 307700 32248 CHELSEA CLUTE EXECUTIVE DIRECTOR (UNTIL 07/2023) 8.00 32.00 X 0 95499 16132 JEANE WHARTON EXECUTIVE DIRECTOR 8.00 32.00 X 0 27172 2240 TONI KRUSZKA ALUMNI AND DONOR RELATIONS 8.00 32.00 X 0 87030 20218 0 656621 97884 0 0 1 0 0 50931 1299412 35937 1350343 373263 373263 2531984 2532007 -23 -23 -23 10800 50931 32531 -21731 -21731 1701852 0 0 351509 402226 402226 1242266 1242266 6141 6141 649 649 8820 8820 72210 12000 59700 510 73393 73393 SUBSCRIPTIONS 7993 7993 1813698 1656492 156696 510 878509 595544 282754 230391 12195408 13452607 3159183 3502845 16515854 17781387 67435 33375 67435 33375 X 520756 531372 15927663 17216640 16448419 17748012 16515854 17781387 X -111846 1067777 343662 X 0 1 X 1 0 X 1011320 1030207 1713509 1042856 1350343 6148235 362808 296042 316728 318232 301732 1595542 1374128 1326249 2030237 1361088 1652075 7743777 1333710 6410067 355208 295055 368380 296090 373263 1687996 9431773 0.67960 0.66690 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 10342711 152925 1363946 299778 11559804 9459751 154535 995909 267484 10342711 10815062 209644 -1349848 215107 9459751 8436644 222516 2173458 17556 10815062 8221169 115510 315918 215953 8436644 0.00495 0.87706 0.11799 0 0 0 BENEFICIAL INTEREST IN CHARITABLE TRUSTS 3477731 CASH SURRENDER VALUE OF LIFE INSURANCE 25114 3502845 X 3447554 1067777 301732 343662 1713171 1734383 -32531 -32531 1701852 2147961 301732 32531 334263 1813698 0 1813698 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, 2024 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 344,312. CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE -650. PART XI, LINE 4B - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EVENT EXPENSES -32,531. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EVENT EXPENSES 32,531. ANNUAL GOLF TOURNAMENT 61731 50931 10800 2844 10428 10138 750 8371 61731 50931 10800 2844 10428 10138 750 8371 32531 -21731 1 COLLEGE OF SOUTHERN MARYLAND 8730 MITCHELL RD LA PLATA MD 20646 520848273 STATE OF MARYLAND 402226 0 N/A N/A TO PROVIDE RESOURCES TO THE COLLEGE IN FURTHERANCE OF THEIR EDUCATION MISSION. 1 0 SCHOLARSHIPS 1196 1242266 N/A N/A PART I, LINE 2: THE FOUNDATION HAS ONE POSITION RESPONSIBLE FOR ALL GRANTS AWARDED TO THE COLLEGE. THE PERSON IN THAT POSITION IS RESPONSIBLE FOR TRACKING, MONITORING AND REPORTING FOR ALL GRANTS AWARDED TO THE COLLEGE BY THE FOUNDATION AND REPORTS TO THE VICE PRESIDENT OF FINANCIAL SERVICES OF THE COLLEGE. A QUARTERLY REPORT ON GRANT STATUS IS PROVIDED TO THE BOARD OF TRUSTEES AND THE COLLEGE PRESIDENT. 0 0 0 0 0 0 0 0 0 DR YOLANDA WILSON SECRETARY/TREASURER 0 276000 0 0 0 31700 0 20010 0 12238 0 339948 0 0 JUDITH MILLS CFO 0 138020 0 1200 0 0 0 10006 0 17040 0 166266 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 OFFICE EQUIPMENT 5 35937 RETAIL VALUE 0 0 1 0 PART I, COLUMN (B): THE NUMBER IN COLUMN B REPRESENTS A COMBINATION OF THE AMOUNT OF CONTRIBUTIONS AND THE NUMBER OF ITEMS RECEIVED. 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 344,312. CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE -650. 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 325517 FMV COLLEGE OF SOUTHERN MARYLAND B 402226 FMV COLLEGE OF SOUTHERN MARYLAND R 1644493 FMV