ATHLETICS FOUNDATION OF NORFOLK STATE UNIVERSITY INC

EIN: 521228618 501(c)(3)

Norfolk, VA

Total Revenue
$518,263
Total Expenses
$428,184
Total Assets
$269,608
Net Assets
$200,771
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
1980
Legal Domicile
VA
Principal Officer
Frances Steward
Phone
7576791563
Tax Period
2021-07-01 to 2022-06-30

ATHLETICS FOUNDATION OF NORFOLK STATE UNIVERSITY INC, founded in 1980, is a small nonprofit that reported $180K in total revenue in fiscal year 2020. Revenue fell 58% from the prior year — a significant decline worth monitoring.

Mission

To raise and receive gifts for the benefit, scholarship and education of student attending.

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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%)

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Financial Overview (2021)

Revenue Breakdown

Contributions & Grants $319,554
Program Service Revenue $286,252
Investment Income $363
Other Revenue $-87,906
TOTAL REVENUE $518,263

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $252,314
Other Expenses $428,184
TOTAL EXPENSES $428,184

Year-over-Year Comparison

2021 2020 Change
Revenue $518,263 $180,135 +1.9%
Expenses $428,184 $182,244 +1.3%
Net Income $90,079 $-2,109 -43.7%
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

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Liquidity & Cash Position

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Governance

Voting Members
19
Independent Members
19
Employees
N/A
Volunteers
25

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
4
$0
Total Directors
15
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Asley Avery Board Member 6
Director
$0 $0 $0
Demetra Brinkley Board Member 6
Director
$0 $0 $0
Reginald Freeman Board Member 6
Director
$0 $0 $0
Keith Hubbard Board Member 6
Director
$0 $0 $0
Curtis Hurdle Board Member 6
Director
$0 $0 $0
Dr Sandy Huchinson Board Member 6
Director
$0 $0 $0
Eric Majette Board Member 6
Director
$0 $0 $0
Michael Mullin Board Member 6
Director
$0 $0 $0
Donald Porter Board Member 6
Director
$0 $0 $0
Langston Powell Board Member 6
Director
$0 $0 $0
Cliff Reid Board Member 6
Director
$0 $0 $0
James Rivers Board Member 6
Director
$0 $0 $0
Zackery Rogers Board Member 6
Director
$0 $0 $0
John Vaughter Board Member 6
Director
$0 $0 $0
Michael Walker Board Member 6
Director
$0 $0 $0
William Swivels President 8
Officer
$0 $0 $0
Frances Steward Executive Director 20
Officer
$0 $0 $0
Alfred Steward Treasurer 10
Officer
$0 $0 $0
Brenda Betts Secretary 6
Officer
$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
2022 $518,263 $428,184 $269,608 $90,079
2021 $180,135 $182,244 $192,418 $-2,109
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