2026-05-14T07:58:23-05:00 2025-06-30 410746749 CLIFTONLARSONALLEN LLP TWO INTERNATIONAL PLACE 22ND FLOOR BOSTON MA 02110 990 2024-07-01 237152890 ST MARY'S COLLEGE OF MARYLAND FOUNDATION INC STMA 2408954282 18952 E FISHER ROAD ST MARYS CITY MD 20686 STEPHEN MCDANIEL INTERIM EXECUTIVE DIRECTOR 2408954282 2026-05-12 1 1 LAURA J KENNEY P00202198 6177170831 2026-05-12 2024 2025-03-06 01:10:19Z SMCM FOUNDATION STEPHEN MCDANIEL 18952 E FISHER ROAD ST MARYS CITY MD 20686 17504133 0 X WWW.SMCM.EDU/GIVING/SMCM-FOUNDATION X 1971 MD INITIATE, CULTIVATE AND MAINTAIN STRONG LIFELONG RELATIONSHIPS WITH ALUMNI, FRIENDS AND PARTNERS BY CREATING A CULTURE OF GIVING, VOLUNTEER LEADERSHIP AND EXEMPLARY FIDUCIARY RESPONSIBILITY TOWARD THE GOAL OF A BRIGHT FUTURE AS A PREFERRED PUBLIC LIBERAL ARTS HONORS INSTITUTION. 13 13 0 13 0 0 2532189 3025122 175322 226559 2053306 3218601 1197 0 4762014 6470282 2330960 3238025 0 0 0 0 105000 80000 101422 1120337 1235909 3556297 4553934 1205717 1916348 55717445 60519266 849132 1574336 54868313 58944930 X OUR MISSION IS TO INITIATE, CULTIVATE AND MAINTAIN STRONG LIFELONG RELATIONSHIPS WITH ALUMNI, FRIENDS AND PARTNERS BY CREATING A CULTURE OF GIVING, VOLUNTEER LEADERSHIP AND EXEMPLARY FIDUCIARY RESPONSIBILITY TOWARD THE GOAL OF A BRIGHT FUTURE AS A PREFERRED PUBLIC LIBERAL ARTS HONORS INSTITUTION. 0 0 2851093 2201826 226559 COLLEGE DEPARTMENT / DIVISION SUPPORT - PROGRAM AND DEPARTMENT SUPPORT, INCLUDING FACULTY INITIATIVES, LECTURE SERIES, CONFERENCE REGISTRATION FEES, TRAVEL SUPPORT, RESEARCH, MEETING SUPPLIES AND REFRESHMENTS, EQUIPMENT, PRESENTATIONS, AND FILM SCREENINGS. PROGRAMS AND DEPARTMENTS SUPPORTED INCLUDE LIBRARY, EDUCATIONAL STUDIES, MUSIC, THE SCIENCES, CAREER SERVICES, COMPUTER STUDIES, AND MATHEMATICS. ALSO, PROVIDE SUPPLEMENTARY FUNDING FOR THE ATHLETICS DEPARTMENT AND ATHLETIC TEAMS OF ST. MARY'S COLLEGE OF MARYLAND. 1036199 1036199 0 SCHOLARSHIP AND AWARDS SUPPORT- PROVIDE SCHOLARSHIP AND INTERNSHIP SUPPORT, AWARDS AND RESEARCH STIPENDS TO STUDENTS OF ST. MARY'S COLLEGE OF MARYLAND. IN FY25, 262 SCHOLARSHIPS FROM 89 FUNDS WERE AWARDED. THERE WERE 90 AWARDS GIVEN TO STUDENTS, MANY AT AWARDS CONVOCATION HONORING OUTSTANDING STUDENT ACHIEVEMENTS. 7 STUDENTS WERE PROVIDED SUPPORT TO ENABLE THEM TO COMPLETE AN INTERNSHIP, WHICH PROVIDES AN EXCELLENT SETTING FOR PROFESSIONAL DEVELOPMENT, WORKPLACE DISCIPLINE, SUBJECT SPECIFIC JOB EXPERIENCE AND NETWORKING OPPORTUNITIES. 10 STUDENTS WERE AWARDED STIPENDS TO HELP WITH UNDERGRADUATE RESEARCH PROJECTS. 3887292 1 1 0 1 0 0 0 0 0 1 1 1 0 0 1 1 1 0 0 0 1 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 102 0 1 0 0 0 0 0 0 1 1 0 0 0 0 0 0 X 13 13 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 0 0 0 AK AR CA CO CT DC FL HI IL KY LA MA MD ME MI MN NC NV NH NJ NY ND OH OK OR PA SC UT WA WI X JACQUELINE WRIGHT 2408953123 18952 E FISHER RD ST MARYS CITY MD 20686 DANIEL SCHIFFMAN PRESIDENT 5.00 0.00 X X 0 0 0 THOMASINA HIERS-JOHNSON VICE PRESIDENT 1.00 0.00 X X 0 0 0 R SCOTT RASPA TREASURER 1.00 0.00 X X 0 0 0 BONNIE GREEN SECRETARY 1.00 0.00 X X 0 0 0 EDWARD SIRIANNO DIRECTOR 0.50 0.00 X 0 0 0 BLU PUTNAM DIRECTOR 0.50 0.00 X 0 0 0 MICHAEL O'BRIEN DIRECTOR 0.50 0.00 X 0 0 0 SUSAN PAUL DIRECTOR 0.50 0.00 X 0 0 0 NICOLE WEST DIRECTOR 0.50 0.00 X 0 0 0 BRITTANY GORE DIRECTOR 0.50 0.00 X 0 0 0 GEORGE ANAS DIRECTOR 0.50 0.00 X 0 0 0 JOSEPH BRYAN DIRECTOR (UNTIL 6/25) 0.50 0.00 X 0 0 0 AMIR REDA DIRECTOR 0.50 0.00 X 0 0 0 NIKOLA SUTHERLAND DIRECTOR 0.50 0.00 X 0 0 0 CAROLYN CURRY EXECUTIVE DIRECTOR 16.00 24.00 X 0 279437 32988 JACQUELINE WRIGHT DIRECTOR OF FOUND. FIN. AND ADMIN. 40.00 0.00 X 0 122525 39012 0 401962 72000 0 0 1 0 JPMORGAN CHASE BANK NA 383 MADISON AVENUE NEW YORK NY 10017 INVESTMENT MANAGEMENT SERVICES 229958 1 17630 3007492 11922 3025122 EVENT REVENUE 900099 226559 226559 226559 1133392 1133392 13119060 11033851 2085209 2085209 2085209 6470282 226559 0 3218601 2201826 2201826 1036199 1036199 10000 10000 53528 53528 60000 60000 80000 80000 179813 179813 62491 36000 26491 38612 38612 53516 53516 101785 73431 20594 7760 247348 185806 52289 9253 18452 758 17694 EVENT EXPENSE 337681 286865 46407 4409 UNCOLLECTED PLEDGE EXPE 29500 29500 GIFT ANNUITY EXPENSE 28983 28983 SUPPLIES 7573 6193 1380 6627 1731 4896 4553934 3887292 565220 101422 6857783 9601311 3208489 2938214 110169 114122 51724 61301 14001 12800 1201 1201 32745809 33414969 12555316 14195435 186954 192713 55717445 60519266 153209 1223408 695923 350928 849132 1574336 X 1840831 679245 53027482 58265685 54868313 58944930 55717445 60519266 X 1916348 1829488 330781 X 0 1 X 1 0 X X X 1 ST MARY'S COLLEGE OF MARYLAND 526002033 2 1 2201826 0 1 2201826 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 X SECTION D, LINE 3A: THE FOUNDATION'S JOINT INVESTMENT ADVISORY COMMITTEE (JIAC) INCLUDES TWO COLLEGE TRUSTEES AND THE COLLEGE PRESIDENT WHO ASSIST IN IMPLEMENTING AND REVIEWING THE FOUNDATION'S INVESTMENT POLICIES AND ASSET ALLOCATIONS. THE JIAC ALSO RECOMMENDS TO THE FOUNDATION A YEARLY SPEND RATE THAT IS APPLIED TO THE ENDOWMENTS AS WELL AS A SUPPORT AND SERVICE FEE. IN ADDITION, THE JIAC PERIODICALLY SOLICITS INVESTMENT MANAGERS FOR THE FOUNDATION'S ENDOWMENT PORTFOLIO AND RECOMMENDS A MANAGER TO THE FOUNDATION. THE USE OF PRIVATE FUNDS IS ALLOCATED AS SPECIFIED BY THE DONORS. THE MAJORITY OF EXPENDITURES, SUCH AS FOR COLLEGE DEPARTMENTS AND SCHOLARSHIPS, ARE PROCESSED THROUGH THE COLLEGE'S BUSINESS OFFICE AND SUBJECT TO THE CONTROL AND APPROVAL PROCESS REQUIRED. IN THE CASE OF SCHOLARSHIP SUPPORT, THE COLLEGE CONDUCTS THE SELECTION PROCESS FOR ELIGIBLE STUDENTS AND NOTIFIES THE FOUNDATION OF AWARDEES AND AMOUNTS. THE SELECTION IS VERIFIED BY A REPRESENTATIVE OF THE FOUNDATION TO ENSURE DONOR INTENT. PART IV, SECTION E, LINE 1C: THE ST. MARY'S COLLEGE OF MARYLAND FOUNDATION, INC.'S (THE FOUNDATION) SUPPORTED ORGANIZATION IS ST. MARY'S COLLEGE OF MARYLAND. THE SCHOOL WAS FOUNDED IN 1840 THROUGH MARYLAND LEGISLATURE, AND WAS INCORPORATED BY AN ACT OF LEGISLATION IN 1846. IN 1992, THE STATE GENERAL ASSEMBLY DESIGNATED THE SCHOOL MARYLAND'S PUBLIC HONORS COLLEGE; THE STATE ALSO GRANTED THE COLLEGE AN INSTITUTIONAL STATUS DESIGNED TO ASSURE STABLE PUBLIC FUNDING. THE FOUNDATION'S ARTICLES OF INCORPORATION AND BY-LAWS STIPULATE THAT THE PURPOSE OF THE ORGANIZATION IS TO RECEIVE CONTRIBUTIONS, ACCEPT, HOLD, INVEST, REINVEST, AND ADMINISTER ANY GIFTS, BEQUESTS, DEVISES, BENEFITS OF TRUSTS, AND PROPERTY OF ANY SORT, WITHOUT LIMITATION AS TO AMOUNT OF VALUE AND TO USE, DISBURSE OR DONATE THE INCOME AND PRINCIPAL THEREOF TO ENHANCE, IMPROVE DEVELOP THE CAPABILITIES OF, AND PROMOTE ST. MARY'S COLLEGE OF MARYLAND AND TO BENEFIT THAT INSTITUTION, ITS STUDENTS AND FACULTY. THE FOUNDATION MAINTAINS AND MANAGES ALMOST $61 MILLION OF FUNDS FOR THE BENEFIT OF ST. MARY'S COLLEGE OF MARYLAND, OF WHICH $45 MILLION IS ENDOWED FUNDS. APPROXIMATELY $2 MILLION WAS DISTRIBUTED TO THE COLLEGE IN FY2025, OF WHICH $1 MILLION PROVIDED SCHOLARSHIPS AND AWARDS TO STUDENTS, WITH THE REMAINDER PROVIDING SUPPORT FOR, BUT NOT LIMITED TO, THE ARTS, MUSIC, THEATER, BIOLOGY, CHEMISTRY, PHYSICS, ENGLISH AND ARCHAEOLOGY DEPARTMENTS, ACADEMIC CHAIRS AND PROFESSORSHIPS, UNDERGRADUATE RESEARCH, FACULTY INNOVATION AND DEVELOPMENT. THE FOUNDATION COORDINATES WITH AND SUPPORTS THE FUNDRAISING ACTIVITIES OF THE COLLEGE. THE FOUNDATION HAS WORKED CLOSELY WITH THE PRESIDENT, THE OFFICE OF INSTITUTIONAL ADVANCEMENT STAFF, AND THE FACULTY AND STAFF FOR 54 YEARS TO SUPPORT CRITICAL COLLEGE NEEDS. VIRTUALLY EVERY FACET OF LIFE AT ST. MARY'S COLLEGE OF MARYLAND IS ENRICHED BY THE SUPPORT THAT THE FOUNDATION PROVIDES. THE VICE PRESIDENT OF INSTITUTIONAL ADVANCEMENT FOR THE COLLEGE SERVES AS THE EXECUTIVE DIRECTOR OF THE FOUNDATION. THE PRESIDENT OF THE COLLEGE SERVES ON THE FOUNDATION'S BOARD OF DIRECTORS AS A NON-VOTING, EX-OFFICIO MEMBER. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 1 60000 1 0 0 60000 0 PART II-B, LINE 1: LINE 1F -THE FOUNDATION HIRES A LOBBYING FIRM TO REPRESENT IT AT STATE LEGISLATURE. LINE 1G - MET WITH ELECTED AND APPOINTED STATE AND FEDERAL OFFICIALS REGARDING BUDGET AND POLICY ISSUES. 40403150 1571374 4189342 523918 658171 450708 44531069 36907917 822127 3635466 245663 381779 334918 40403150 35953606 1519013 1609458 847651 652548 673961 36907917 40246986 517884 -3039513 797920 577869 395962 35953606 32733677 1087356 8271676 780909 596676 468138 40246986 0.00100 0.99900 0.00000 0 0 14001 12800 1201 1201 INTEREST HELD IN PERPETUAL TRUST 1691784 F GROSVENOR ALTERNATE INVESTMENTS 2033328 F SOF XII PRIVATE INVESTORS OFFSHORE 395942 F EQT INFRASTRUCTURE V PRIVATE 1031170 F GSO PRIVATE INVESTORS OFFSHORE II 31755 F KKR ASIAN FUND II PRIVATE INVESTORS 111199 F HPS CORPORATE LENDING (HLEND) 1051624 F PEG GLOBAL PRIVATE EQUITY X OFFSHORE SPECIAL L.P. 656789 F PEG GLOBAL PRIVATE EQUITY IX OFFSHORE SPECIAL L.P. 935000 F PEG GLOBAL PRIVATE EQUITY INSTITUTIONAL INVESTORS VIII OFFSHORE SPECIAL LP 1112437 F PEG GLOBAL PRIVATE EQUITY INSTITUTIONAL INVESTORS VI OFFSHORE SPECIAL LP 927262 F PEG GLOBAL PRIVATE EQUITY INSTITUTIONAL INVESTORS V OFFSHORE SPECIAL L.P. 1118799 F PEG GLOBAL PRIVATE EQUITY INSTITUTIONAL INVESTORS XI OFFSHORE SPECIAL L.P. 371910 F CPI (CARLYLE PROPERTY) 864112 F CLARION PRIVATE INVESTORS, LLC 861537 F ANTARES STRATEGIC CREDIT FUND 1000787 F 14195435 GIFT ANNUITY LIABILITY 350928 350928 X 10434748 1829488 1984010 330781 4144279 6290469 179813 179813 6470282 6358131 1984010 1984010 4374121 179813 179813 4553934 PART V, LINE 4: FOR THE YEARS ENDED JUNE 30, 2025 AND 2024, THE FOUNDATION APPROVED A SPENDING POLICY OF 4.25% AND 4.00% RESPECTIVELY, AND APPLIED A SERVICE FEE OF 1.25 AND 1.00% RESPECTIVELY TO THE EARNINGS OF THE ASSETS WITH DONOR RESTRICTIONS HELD IN PERPETUITY BASED ON A TWELVE QUARTER ROLLING AVERAGE. THE SERVICE FEE RATE IS FIXED AT A LEVEL THAT IS SUFFICIENT TO COVER THE CORE FOUNDATION EXPENSES, INCLUDING, BUT NOT LIMITED TO, INSURANCE, ACCOUNTING, LEGAL, AND INVESTMENT MANAGEMENT. THE EARNINGS WITH DONOR RESTRICTIONS HELD IN PERPETUITY ARE USED IN ACCORDANCE WITH EITHER THE DONOR'S STATED PURPOSE OR TO SUPPORT THE FOUNDATION'S OPERATIONS IN GENERAL. INTENDED USES OF ENDOWMENT FUNDS ARE FOR SCHOLARSHIPS, THE CENTER FOR THE STUDY OF DEMOCRACY, ENDOWED CHAIRS, LIBRARY SUPPORT AND AWARDS AND OTHER PROGRAMS. PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AS AN ORGANIZATION, WHICH IS NOT A PRIVATE FOUNDATION. THE FOUNDATION IS GENERALLY EXEMPT FROM FEDERAL AND STATE INCOME TAXES. UNRELATED BUSINESS INCOME MAY BE SUBJECT TO FEDERAL AND STATE INCOME TAXES. MANAGEMENT BELIEVES THAT IT HAS NO MATERIAL UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE RECOGNITION UNDER THE ACCOUNTING CODIFICATION GUIDANCE. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 330,781. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS N/A 6272517 EUROPE 0 0 INVESTMENTS N/A 2159108 0 0 0 0 0 0 8431625 0 8431625 1 0 1 0 0 0 X X X X X X 1 GRAHAM PELTON CONSULTING 39 BEECHWOOD ROAD SUMMIT NJ 07901 FUNDRAISING CONSULTANTS 0 0 80000 0 80000 AL AK AZ AR CA CO CT DE DC FL GA HI ID IL IA IN KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OK OR OH PA PR WA VA VT UT TX TN SC RI SD WV WI WY 1 ST MARY'S COLLEGE OF MARYLAND 47645 COLLEGE DRIVE ST MARYS CITY MD 20686 526002033 170(B)(1)(A)(II) 2201826 0 N/A N/A PROGRAM SUPPORT 1 0 AWARDS 90 43098 N/A N/A SCHOLARSHIPS 262 945579 N/A N/A STIPENDS 16 21659 N/A N/A INTERNSHIPS 7 25863 N/A N/A PART I, LINE 2: THE FOUNDATION PAYS THE CHECK TO THE COLLEGE DIRECTLY TO THE SPECIFIC BUDGET NUMBER THAT THE COLLEGE USES FOR THAT PARTICULAR DEPARTMENT, OR DIRECTLY TO THE STUDENT ID NUMBER IF THE FUNDS ARE FOR STUDENT AWARDS. 0 0 0 0 0 0 0 0 0 CAROLYN CURRY EXECUTIVE DIRECTOR 0 279437 0 0 0 0 0 20773 0 12215 0 312425 0 0 JACQUELINE WRIGHT DIRECTOR OF FOUND. FIN. AND ADMIN. 0 122525 0 0 0 0 0 27308 0 11704 0 161537 0 0 PART I, LINE 3 THE EXECUTIVE DIRECTOR IS COMPENSATED BY ST. MARY'S COLLEGE, A RELATED TAX-EXEMPT ORGANIZATION. FOLLOWING THE ANNUAL PERFORMANCE EVALUATION BY THE PRESIDENT OF THE COLLEGE, A COMPENSATION MERIT INCREASE PERCENTAGE IS DETERMINED ANNUALLY. ADDITIONALLY, THE EXECUTIVE DIRECTOR RECEIVES COST OF LIVING ADJUSTMENTS (COLA) WAGE INCREASES (PERCENTAGE) AS AND WHEN DETERMINED BY THE STATE OF MARYLAND FOR OUR AGENCY. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE SHALL CONSIST OF THE BOARD PRESIDENT, VICE PRESIDENT, SECRETARY, TREASURER AND ONE (1) ADDITIONAL DIRECTOR ELECTED BY THE BOARD. THE EXECUTIVE COMMITTEE SHALL DEVELOP RECOMMENDATIONS WITH RESPECT TO VARIOUS MATTERS PERTAINING TO THE AFFAIRS OF THE FOUNDATION AND SHALL REPORT SUCH RECOMMENDATIONS TO THE BOARD FOR ACTION. IN INSTANCES WHERE SPECIAL CIRCUMSTANCES REQUIRE EXPEDITIOUS ACTION BETWEEN MEETINGS OF THE BOARD, THE EXECUTIVE COMMITTEE SHALL HAVE THE POWERS TO TAKE THE NECESSARY ACTIONS, SUBJECT TO ANY PRIOR LIMITATIONS IMPOSED BY THE BOARD. THE MINUTES OF THE EXECUTIVE COMMITTEE SHALL INCLUDE A SUMMARY OF THE CIRCUMSTANCES REQUIRING ANY EXPEDITIOUS ACTION TAKEN BY THE EXECUTIVE COMMITTEE AND THE MINUTES SHALL BE SUBMITTED TO THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE COMPLETE FORM 990 IS REVIEWED BY THE PRESIDENT, TREASURER, DIRECTOR OF FOUNDATION FINANCE AND ADMINISTRATION AND THE EXECUTIVE DIRECTOR. ONCE THE COMPLETE FORM 990 HAS BEEN REVIEWED A PUBLIC DISCLOSURE COPY OF THE RETURN IS SHARED WITH THE FULL BOARD BEFORE FILING. A FULL COPY IS NOT SHARED IN ORDER TO MAINTAIN DONOR CONFIDENTIALITY. FORM 990, PART VI, SECTION B, LINE 12C THE FOUNDATION DOES NOT SEEK TO CONDUCT BUSINESS WITH OFFICERS, DIRECTORS, OR TRUSTEES, OR ANY KEY EMPLOYEE OF THE FOUNDATION. THE DUALITY OF INTEREST CLAUSE IN THE BY-LAWS OUTLINES THE STEPS TO TAKE SHOULD SUCH AN EVENT BE PROPOSED. ON AN ANNUAL BASIS, ALL DIRECTORS, OFFICERS AND KEY EMPLOYEES ARE PROVIDED WITH A COPY OF THE INVESTMENT CONFLICT OF INTEREST POLICY, AND ARE REQUIRED TO COMPLETE A SIGNED STATEMENT BOTH ACKNOWLEDGING THAT THEY HAVE READ THE POLICY AND WILL DISCLOSE ANY MATERIAL OWNERSHIP INTEREST OR DIRECT EMPLOYMENT WITH ANY INVESTMENT MANAGER ENGAGED BY THE FOUNDATION. ANY SUCH DISCLOSURES ARE REVIEWED BY THE EXECUTIVE COMMITTEE TO IDENTIFY WHETHER A CONFLICT EXISTS AND DETERMINE ANY FURTHER ACTION NEEDED. INDIVIDUALS ARE PROHIBITED FROM PARTICIPATION IN THE REVIEW OF THEIR OWN TRANSACTIONS. FORM 990, PART VI, SECTION C, LINE 19 A REQUEST IS MADE BY AN INDIVIDUAL IN WRITING AND THEN COPIES OF POLICIES, FINANCIAL STATEMENTS AND TAX FORMS ARE GIVEN TO THE REQUESTOR. THE FINANCIAL STATEMENTS ARE AVAILABLE ON THE WEBSITE. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 330,781. ST MARY'S COLLEGE OF MARYLAND 47645 COLLEGE DRIVE ST MARYS CITY MD 20686 526002033 COLLEGE - EDUCATION MD N/A 0 0 1 0 0 1 0 0 0 0 0 0 1 0 1 1 1 1 0 0 ST MARY'S COLLEGE OF MARYLAND B 2201826 CASH VALUE ST MARY'S COLLEGE OF MARYLAND O 1985605 CASH VALUE