Educational Institutions

Norfolk State University Foundation, Inc.

  • Norfolk, VA
  • www.nsu.edu

Mission Statement

The NSU Foundation is organized exclusively to encourage, solicit, administer and disburse contribution, gifts and grants for the support of Norfolk State University.

Main Programs

  1. Grants
  2. Scholarships
  3. Support Services
Service Areas

Self-reported

Virginia

In a specific U.S. city, cities, state(s) and/or region.

ruling year

1972

Principal Officer since 2012

Self-reported

Mr. Kelvin Arthur

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EIN

23-7235954

 Number

6347081570

Contact

Cause Area (NTEE Code)

Higher Education Institutions (B40)

IRS Filing Requirement

This organization is required to file an IRS Form 990 or 990-EZ.

Programs + Results

How does this organization make a difference?

Overview

Self-reported by organization

Accomplishments:Distributed $796,000 in scholarship funding for over 740 students.Provided $642,000 in support for university programs and initiatives.Endowment investment return for fiscal year end was 18.14%.Established three new endowments and one new charitable gift annuity.Secured ownership of a $700,000 life insurance planned gift. Goals:Achieve 100% board giving at leadership level;Establish 10 new endowments;Increase University support by 15%;Secure ownership of $1M in life insurance planned gifts.

Programs

Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Program 1

Grants

The Foundation administers grants on behalf of NSU.

Category

Population(s) Served

Budget

$134,000.00

Program 2

Scholarships

The Foundation makes disbursements to NSU students who are designated by the university to receive scholarships from funds established by various donors.

Category

Population(s) Served

Budget

625511.00

Program 3

Support Services

The Foundation provides support services for the benefit of NSU and its students.

Category

Population(s) Served

Budget

$507,787.00

Service Areas

Self-reported

Virginia

In a specific U.S. city, cities, state(s) and/or region.

Funding Needs

Needs:Secure $2M in annual support for Honors College;Grow endowment fund to $50M by 2021;Establish multi-year corporate support commitments.

External Reviews

Source: greatnonprofits.org

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Financials

Financial information is an important part of gauging the short- and long-term health of the organization.

NORFOLK STATE UNIVERSITY FOUNDATION, INC AND SUBSIDIARY
Fiscal year: Jul 01-Dec 31
Yes, financials were audited by an independent accountant.

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  • Board Chair and Board Members
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Operations

The people, governance practices, and partners that make the organization tick.

Norfolk State University Foundation, Inc.

Leadership

NEED MORE INFO ON THIS NONPROFIT?

Free: Gain immediate access to the following:
  • Address, phone, website and contact information
  • Forms 990 for 2014, 2014 and 2014
  • Board Chair and Board Members
  • Access to the GuideStar Community
Need the ability to download nonprofit data and more advanced search options? Consider a Premium or Pro Search subscription.

Principal Officer

Mr. Kelvin Arthur

Governance

BOARD CHAIR

Glenn Carrington

Ernst & Young

Term: July 2014 - June 2017

BOARD LEADERSHIP PRACTICES

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section, which enables organizations and donors to transparently share information about essential board leadership practices. Self-reported by organization


RESPONSE NOT PROVIDED

BOARD ORIENTATION & EDUCATION

Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations?


RESPONSE NOT PROVIDED

CEO OVERSIGHT

Has the board conducted a formal, written assessment of the chief executive within the past year?


RESPONSE NOT PROVIDED

ETHICS & TRANSPARENCY

Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year?


RESPONSE NOT PROVIDED

BOARD COMPOSITION

Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership?


RESPONSE NOT PROVIDED

BOARD PERFORMANCE

Has the board conducted a formal, written self-assessment of its performance within the past three years?