CHRISTOPHER NEWPORT UNIVERSITY EDUCATION FOUNDATION

EIN: 541156248 501(c)(3) Education

NEWPORT NEWS, VA

Total Revenue
$9,713,402
Total Expenses
$7,877,136
Total Assets
$86,604,079
Net Assets
$86,083,773
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Financial Trends

Organization Details

Formation Year
1980
Legal Domicile
VA
Principal Officer
SPENCER MCDONALD
Phone
7575947038
Tax Period
2023-07-01 to 2024-06-30

CHRISTOPHER NEWPORT UNIVERSITY EDUCATION FOUNDATION, founded in 1980, is a community nonprofit in the Education sector that reported $7.2M in total revenue in fiscal year 2018. Expenses of $6.3M left a modest 12% surplus.

Mission

TO RECEIVE, ADMINISTER, AND DISTRIBUTE FUNDS AND PROPERTY EXCLUSIVELY IN FURTHERANCE OF THE EDUCATIONAL ACTIVITIES AND OBJECTIVES OF CHRISTOPHER NEWPORT UNIVERSITY.

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Trantor Score

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $8,156,829
Program Service Revenue $634,753
Investment Income $862,772
Other Revenue $59,048
TOTAL REVENUE $9,713,402

Expense Breakdown

Grants Paid $6,209,100
Salaries & Benefits $112,581
Fundraising Expenses $1,185,197
Program Expenses $6,244,228
Other Expenses $1,555,455
TOTAL EXPENSES $7,877,136

Year-over-Year Comparison

2023 2022 Change
Revenue $9,713,402 $8,101,326 +0.2%
Expenses $7,877,136 $7,265,788 +0.1%
Net Income $1,836,266 $835,538 +1.2%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
22
Independent Members
19
Employees
N/A
Volunteers
19

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
$424,334
Total Directors
23
$947,481
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BRIAN M EAKES BOARD MEMBER 1.00
Director
$0 $0 $0
ALLEN C BROOKS BOARD MEMBER 1.00
Director
$0 $0 $0
KELLI P MEADOWS SECRETARY 5.00
Officer Director
$0 $0 $0
LTC BORIS ROBINSON BOARD MEMBER 1.00
Director
$0 $0 $0
FRED HAGERMAN BOARD MEMBER 1.00
Director
$0 $0 $0
NATHANIEL FONTAINE BOARD MEMBER 1.00
Director
$0 $0 $0
S ANDERSON HUGHES BOARD MEMBER 1.00
Director
$0 $0 $0
N SCOTT MILLAR PRESIDENT 5.00
Officer Director
$0 $0 $0
MARY KATHERINE EVAN HOGG BOARD MEMBER 1.00
Director
$0 $0 $0
CAROLYN S ABBITT BOARD MEMBER 1.00
Director
$0 $0 $0
MATTHEW MARTIN BOARD MEMBER 1.00
Director
$0 $0 $0
ROBERT F SHUFORD JR BOARD MEMBER 1.00
Director
$0 $0 $0
VERONICA WEYMOUTH BOARD MEMBER 1.00
Director
$0 $0 $0
SYLVIA WEINSTEIN CRAFT BOARD MEMBER 1.00
Director
$0 $0 $0
RAMONA GAY TARKINGTON-DEAL VICE PRESIDENT 5.00
Director
$0 $0 $0
LANEY M VAUGHAN BOARD MEMBER 1.00
Director
$0 $0 $0
LEE LOCKWOOD BOARD MEMBER 1.00
Director
$0 $0 $0
BLAIR A THOMPSON BOARD MEMBER 1.00
Director
$0 $0 $0
JENNIFER LATOUR BOARD MEMBER 10.00
Director
$0 $32,894 $284,530
ADELIA P THOMPSON BOARD MEMBER 10.00
Director
$0 $24,905 $438,503
ALEXIS N SWAN BOARD MEMBER 1.00
Director
$0 $0 $0
GREGORY P KLICH BOARD MEMBER 1.00
Director
$0 $0 $0
WILLIAM G KELLY BOARD MEMBER 1.00
Director
$0 $12,566 $224,448
K SPENCER MCDONALD CFO & TREASURER 20.00
Officer
$0 $13,720 $161,620
DOUGLAS L HORNSBY CHIEF EXECUTIVE OFFICER 20.00
Officer
$0 $23,915 $262,714
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 $9,713,402 $7,877,136 $86,604,079 $1,836,266
2023 $8,101,326 $7,265,788 $78,899,266 $835,538
2022 $8,492,853 $6,386,682 $75,464,317 $2,106,171
2021 $7,135,383 $5,155,602 $79,883,723 $1,979,781
2020 $5,909,050 $5,534,191 $61,798,123 $374,859
2019 $7,154,366 $6,322,902 $60,270,883 $831,464
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