NORFOLK STATE UNIVERSITY FOUNDATION INC AND SUBSIDIARY (EIN 237235954) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1971

Legal Domicile

Principal Officer

CRYSTAL D JENKINS

Phone

7578232928

Tax Period

2023-01-01 to 2023-12-31

NORFOLK STATE UNIVERSITY FOUNDATION INC AND SUBSIDIARY, founded in 1971, is a community nonprofit in the Education sector that reported $5.2M in total revenue in fiscal year 2018. Revenue grew 9% year-over-year, indicating healthy expansion. The organization ran a surplus of $2.2M, a strong 42% operating margin.

Mission

THE FOUNDATION PROVIDES FINANCIAL SUPPORT TO NORFOLK STATE UNIVERSITY.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $7,574,677

Program Service Revenue $0

Investment Income $254,949

Other Revenue $0

TOTAL REVENUE $7,829,626

Expense Breakdown

Grants Paid $2,996,381

Salaries & Benefits $829,059

Fundraising Expenses $131,348

Program Expenses $5,842,088

Other Expenses $2,768,360

TOTAL EXPENSES $6,593,800

Year-over-Year Comparison

	2023	2022	Change
Revenue	$7,829,626	$8,996,683	-0.1%
Expenses	$6,593,800	$4,031,735	+0.6%
Net Income	$1,235,826	$4,964,948	-0.8%

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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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

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

$137,247

Total Directors

$892,761

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAVAUNE ADAMS-GASTON	DIRECTOR	0.50	Director	$0	$0	$503,969
CLIFFORD PORTER	DIRECTOR - NON-VOTING	0.50	Director	$0	$0	$251,545
CRYSTAL D JENKINS	EXECUTIVE DIRECTOR	48.00	Officer Director	$137,247	$0	$137,247
YVONNE T ALLMOND	DIRECTOR	0.50	Director	$0	$0	$0
SYDANA ROGERS HOLLINS	DIRECTOR	0.50	Director	$0	$0	$0
ANTHONY WALTERS	HUMAN RESOURCES COMMITTEE	0.50	Director	$0	$0	$0
LORIE MCCOWAN	VICE PRESIDENT	1.50	Officer Director	$0	$0	$0
DEVON HENRY	DIRECTOR	0.50	Director	$0	$0	$0
TAMARA JONES	DIRECTOR	0.50	Director	$0	$0	$0
ALLEN R JONES JR	DIRECTOR	0.50	Director	$0	$0	$0
DAVID R KENERSON JR	TREASURER, FINANCE/INVESTMENT COMMITTEE CHAIR	1.50	Officer Director	$0	$0	$0
TRISTAN R BREAUX	DIRECTOR	0.50	Director	$0	$0	$0
CHARLETTE FAIRCHILD	COMMITTEE ON DIRECTORS CO-	0.50	Director	$0	$0	$0
DIANNE BOARDLEY SUBER	STRATEGIC PLANNING COMMITT	0.50	Director	$0	$0	$0
CHARLES T SAUNDERS	AUDIT COMMITTEE CHAIR	0.50	Director	$0	$0	$0
NATE JOHNSON	DIRECTOR	0.50	Director	$0	$0	$0
TRAVIS L AMES SR	DIRECTOR	0.50	Director	$0	$0	$0
JORDAN D MOODY	DIRECTOR - NON-VOTING	0.50	Director	$0	$0	$0
ROBERT K PERKINS	DIRECTOR - NON-VOTING	0.50	Director	$0	$0	$0
LEONARD W JONES	BYLAWS, ARTICLES & INSURAN	0.50	Director	$0	$0	$0
KEVIN CLARK	SECRETARY	1.50	Officer Director	$0	$0	$0
HAROLD L WATKINS II	DIRECTOR - NON-VOTING	0.50	Director	$0	$0	$0
PATRICIA L STITH	DIRECTOR	0.50	Director	$0	$0	$0
BRENDA ANDREWS	DEVELOPMENT COMMITTEE CHAI	0.50	Director	$0	$0	$0
ANTONIO HARRISON	DIRECTOR - NON-VOTING	0.50	Director	$0	$0	$0
DEBORAH C FONTAINE	DIRECTOR	0.50	Director	$0	$0	$0
EARL LEE	DIRECTOR	0.50	Director	$0	$0	$0
CARLA BAILEY	PRESIDENT	1.50	Officer Director	$0	$0	$0
KEITH I JONES	DIRECTOR	0.50	Director	$0	$0	$0
TERRIS TODD	DIRECTOR	0.50	Director	$0	$0	$0
ELIAS OXENDINE	DIRECTOR	0.50	Director	$0	$0	$0

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
2024	No data	No data	No data	No data
2023	$7,829,626	$6,593,800	$109,807,709	$1,235,826
2022	$8,996,683	$4,031,735	$98,346,627	$4,964,948
2021	$9,651,381	$3,680,399	$104,193,941	$5,970,982
2020	$46,443,476	$3,017,960	$87,786,511	$43,425,516
2019	$4,354,230	$4,031,751	$41,024,994	$322,479
2018	$5,215,617	$3,050,775	$34,944,696	$2,164,842

NORFOLK STATE UNIVERSITY FOUNDATION INC AND SUBSIDIARY