FSU FOUNDATION SUPPORTING ORGANIZATION INC

EIN: 043491990 501(c)(3) Education

FITCHBURG, MA

Total Revenue
$1,110,388
Total Expenses
$689,034
Total Assets
$6,807,380
Net Assets
$2,723,378
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1999
Legal Domicile
MA
Principal Officer
Donna Hodge
Phone
9786653457
Tax Period
2023-07-01 to 2024-06-30

FSU FOUNDATION SUPPORTING ORGANIZATION INC, founded in 1999, is a community nonprofit in the Education sector that reported $1.1M in total revenue in fiscal year 2023. Revenue fell 31% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $421K, a strong 38% operating margin.

Mission

The FSU Foundation Supporting Organizations exempt purpose is to support the educational endeavors of Fitchburg State University.

Program Service Accomplishments

Program 1
Expenses: $662,931 Revenue: $1,008,145

Rental and license income of facilities.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $1,008,145
Investment Income $102,243
Other Revenue $0
TOTAL REVENUE $1,110,388

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $662,931
Other Expenses $689,034
TOTAL EXPENSES $689,034

Year-over-Year Comparison

2023 2022 Change
Revenue $1,110,388 $1,614,911 -0.3%
Expenses $689,034 $1,606,035 -0.6%
Net Income $421,354 $8,876 +46.5%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
7
Independent Members
5
Employees
N/A
Volunteers
5

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$202,799
Total Directors
7
$513,899
Key Employees
6
$1,318,368
Highest Compensated
6
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Michael Mahan President 0.20
Officer Director
$0 $0 $0
Richard Healey Director 0.10
Director
$0 $0 $0
David Celuzza Treasurer Clerk 0.20
Officer Director
$0 $0 $0
Michael E Montuori Director 0.10
Director
$0 $0 $0
Atty Carol Vittorioso Director 0.10
Director
$0 $0 $0
Richard Lapidus President FSU 3.00
Director Key Emp
$0 $24,148 $297,403
Jay D Bry V P of Finance Administration 5.00
Director Key Emp
$0 $15,125 $216,496
Jeffrey Wolfman V P Development 0.00
Officer Key Emp
$0 $34,312 $202,799
Patricia Marshall VP Academic Affairs Provost 0.00
Key Emp
$0 $24,148 $221,745
Laura Bayless VP Student Affairs 0.00
Key Emp Highest
$0 $34,312 $197,700
Nadimpalli Mahadev Professor 0.00
Highest
$0 $34,312 $232,969
Paul Weizer Professor 0.00
Highest
$0 $29,596 $199,733
Jessica Murdoch VP of HR Payroll 0.00
Key Emp Highest
$0 $24,148 $182,225
Natalia Kourtonina Professor 0.00
Highest
$0 $15,479 $206,128
Xuzhou Chen Professor 0.00
Highest
$0 $0 $205,981
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 $1,110,388 $689,034 $6,807,380 $421,354
2023 $1,614,911 $1,606,035 $7,835,400 $8,876
2022 $746,945 $810,903 $6,841,585 $-63,958
2021 $1,349,632 $1,622,161 $7,125,562 $-272,529
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