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Salem State University Foundation Inc.

 352 Lafayette Street
 Salem, MA 01970
[P] (978) 542-7591
[F] (978) 542-7533
salemstate.edu/foundation
[email protected]
Michael McElman
INCORPORATED: 1977
 Printable Profile (Summary / Full)
EIN 04-2620632

LAST UPDATED: 05/24/2018
Organization DBA Salem State University
SSU Foundation
Salem State College Foundation
Former Names Salem State College Foundation, Inc. (2011)
Organization received a competitive grant from the Boston Foundation in the past five years No

Summary

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Mission StatementMORE »

Salem State University Foundation, Inc. helps Salem State University meet its needs and goals by raising and distributing private contributions. The foundation invests and manages these contributions in ways that meet the needs of the university community not met through public funding. The foundation directly supports Salem State's mission: To provide a high-quality, student-centered education that prepares a diverse community of learners to contribute responsibly and creatively to a global society, and serve as a resource to advance the region's cultural, social and economic development.

Mission Statement

Salem State University Foundation, Inc. helps Salem State University meet its needs and goals by raising and distributing private contributions. The foundation invests and manages these contributions in ways that meet the needs of the university community not met through public funding. The foundation directly supports Salem State's mission: To provide a high-quality, student-centered education that prepares a diverse community of learners to contribute responsibly and creatively to a global society, and serve as a resource to advance the region's cultural, social and economic development.

FinancialsMORE »

Fiscal Year July 01, 2017 to June 30, 2018
Projected Income $7,265,953.00
Projected Expense $2,669,895.00

ProgramsMORE »

  • Salem's Next Leaders

Revenue vs. Expense ($000s)

Expense Breakdown 2016 (%)

Expense Breakdown 2015 (%)

Expense Breakdown 2014 (%)

For more details regarding the organization's financial information, select the financial tab and review available comments.


Overview

Mission Statement

Salem State University Foundation, Inc. helps Salem State University meet its needs and goals by raising and distributing private contributions. The foundation invests and manages these contributions in ways that meet the needs of the university community not met through public funding. The foundation directly supports Salem State's mission: To provide a high-quality, student-centered education that prepares a diverse community of learners to contribute responsibly and creatively to a global society, and serve as a resource to advance the region's cultural, social and economic development.

Background Statement

With state funding accounting for less than 35% of Salem State University's annual operating budget, the work of Salem State University Foundation is critical to sustain the rigorous academic and diverse social environment that makes our campus a place of growth and transformation for our students. Salem State provides academic programs and innovative educational experiences within a broad liberal arts framework. The university promotes civic engagement, social justice and connection to place -- all important facets of our goal to extend the public good of the university to the benefit of the region.

With an undergraduate population of about 8,000, Salem State University grants about 1,700 baccalaureate degrees annually. The top five majors are business, nursing and health professions-related areas, criminal justice, psychology and education. Graduate programs provide advanced education to improve students' careers or maintain licensure. 1,700 graduate students attend Salem State; 500 master's degrees are conferred annually. The majority of graduate students are educators, social workers, health professionals and business students. Programs for non-degree seeking students host 1,000 students annually and include the Explorers Lifelong Learning Institute for older adults.
 
Salem State's student population can be characterized and financially disadvantaged and underserved. More than 90% of freshmen file for aid and nearly 40% qualify for federal Pell grants, reserved for students who demonstrate the most extreme need. Each year, fully one-third of graduating seniors are the first in their families to complete college. The institution maintains a strong tradition of welcoming recent immigrants, non-traditional students, and student veterans. Salem State University is designated as a "military friendly school" and a "top college for veterans" by a variety of independent organizations.
 
Established in 1977, Salem State University Foundation is one of the oldest and most successful foundations within the Massachusetts state university system. In 1982, the foundation established the Salem State Series, an event that brings speakers of international renown to the North Shore campus and addresses the university's commitment to public engagement and discourse. The foundation manages an endowment in excess of $25M for the benefit of the university, including more than 200 scholarships and annual awards for students who demonstrate financial need.

Impact Statement

In 2016, Salem State University Foundation successfully closed the institution's largest and most successful fundraising effort -- a $26.5 million comprehensive campaign entitled "10,000 Reasons." Among the most significant advances that were made within the context of the campaign, Salem State University:
* Established a Center for Holocaust and Genocide Studies, which provides outstanding programs about the destructive power of antisemitism, racism, and ethnic and religious violence
* Built the Sophia Gordon Center of Creative and Performing Arts, a premier venue for the university's nationally renowned theatre program.
* Named its first endowed faculty chair, the Gassett-Schiller '83 Endowed Chair in Finance and Administration.
 * Significantly increased both endowed scholarship funds and annual awards for student financial assistance.
 
In 2017 a new strategic plan is taking shape under the guidance of a cross-disciplinary team of faculty, staff, alumni and students. With that in mind, Salem State University Foundation will focus efforts this year on:
* Providing operating and project funds for the university's recently established Center for Community Schools, which will be the first resource center for school districts implementing full-service, wrap-around community school models in their communities.
* Increasing annual donations to the Center for Holocaust and Genocide Studies, a critical resource as incidents of antisemitism and intolerance become more commonplace.
* Building knowledge of and resources for Salem State faculty research, a key component to attract and retain both talented students and exceptional instructors.
* Establishing a solid pipeline of support for new initiatives in the areas of civic learning and engagement, multicultural affairs, diversity, and inclusion.
* Sustaining and increasing support for student scholarships, restricted giving to departments and programs, and unrestricted annual donations to support the business of being a university.
 

Needs Statement

Youth At Risk Conference
 

CEO Statement

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Board Chair Statement

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Geographic Area Served

NORTHEAST REGION, MA
STATEWIDE
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Organization Categories

  1. Philanthropy,Voluntarism & Grantmaking Foundations - Single Organization Support
  2. Education - Higher Education
  3. -

Independent research has been conducted on this organization's theory of change or on the effectiveness of this organization's program(s)

No

Programs

Salem's Next Leaders

 

This after-school mentoring program is a collaboration between Salem State University (SSU) and Salem High School (SHS). The program pairs high-achieving college students from SSU with SHS 9th and 10th graders identified as at-risk for not attending or completing college. Mentors and mentees are matched based on gender and career interests (using an adaption of the Holland career interest inventory) reported as part of their respective applications.

Budget  --
Category  Philanthropy, Voluntarism & Grantmaking, General/Other
Population Served Adolescents Only (13-19 years)
Program Short-Term Success   

The program goals for mentees are: 1) improve school performance and behavior; 2) stimulate broader career explorations as well as motivation for successful college work and 3) increase social and emotional strength, including self-advocacy skills.

Program Long-Term Success   

At the completion of the program, mentees are encouraged to take dual-enrollment college classes at Salem State during subsequent semesters. They receive continued assistance from the program mentors and SSU support services, including the Writing Center and the Office of Disabilities. The mentees can earn up to 21 college credits in this free program by the time they graduate from high school.

Program Success Monitored By  --
Examples of Program Success   

Our outcome measures for mentees include 1) pre- and post-surveys that measure self-efficacy and school engagement (cognition, affect, and future intentions), 2) GPA trends and school attendance records and 3) participation in SSU’s dual enrollment courses after program completion.


CEO/Executive Director/Board Comments

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Management


CEO/Executive Director Ms. Cynthia McGurren
CEO Term Start Jan 2004
CEO Email [email protected]
CEO Experience --
Co-CEO --
Co-CEO Term Start --
Co-CEO Email --
Co-CEO Experience --

Former CEOs and Terms

Name Start End
-- -- --

Senior Staff

Name Title Experience/Biography
-- -- --

Awards

Award Awarding Organization Year
-- -- --

Affiliations

Affiliation Year
-- --
Member of state association of nonprofits? No
Name of state association --

External Assessments and Accreditations

External Assessment or Accreditation Year
-- --

Collaborations

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CEO/Executive Director/Board Comments

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Foundation Comments

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Staff Information

Number of Full Time Staff 1
Number of Part Time Staff 2
Number of Volunteers 200
Number of Contract Staff 0
Staff Retention Rate % 100%

Staff Demographics

Ethnicity African American/Black: 0
Asian American/Pacific Islander: 0
Caucasian: 3
Hispanic/Latino: 0
Native American/American Indian: 0
Other: 0
Other (if specified): 0
Gender Female: 3
Male: 0
Not Specified 0

Plans & Policies

Organization has Fundraising Plan? Yes
Organization has Strategic Plan? Under Development
Years Strategic Plan Considers --
Management Succession Plan --
Business Continuity of Operations Plan --
Organization Policies And Procedures Yes
Nondiscrimination Policy Yes
Whistle Blower Policy Yes
Document Destruction Policy --
Directors and Officers Insurance Policy --
State Charitable Solicitations Permit --
State Registration --

Risk Management Provisions

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Reporting and Evaluations

Management Reports to Board? N/A
CEO Formal Evaluation and Frequency N/A N/A
Senior Management Formal Evaluation and Frequency N/A N/A
Non Management Formal Evaluation and Frequency N/A N/A

Governance


Board Chair Mr. James M. Muse
Board Chair Company Affiliation J.M. Muse Associates
Board Chair Term May 2016 - May 2019
Board Co-Chair --
Board Co-Chair Company Affiliation --
Board Co-Chair Term -

Board Members

Name Company Affiliations Status
Ms. Peggy Carl Salem State University Thletics Voting
Mr. Frederick Cavanaugh Retired Voting
Mr. Jeffrey Cicolini Alexander, Aronson, Finning Voting
Ms. Gina Deschamps Deschamps Printing Company Voting
Ms. Annalisa DiPalma Health Coach Voting
Mr. Albert DiVirgilio DiVirgilio Insurance Agency Voting
Ms. Kim Gassett-Schiller Sales Consulting Voting
Dr. Jhon D Keenan Salem State University President Voting
Ms. Cynthia McGurren Salem State University Foundation, Inc. Exofficio
Mr. James M. Muse J.M. Muse Associates Voting
Mr. Paul Petrowski Retired Voting
Mr. Bruce Potter Salem Five Bank Voting
Mr. Bobby Riley Soldier Design Voting
Ms. Deirdre Sartorelli Endicott College Voting
Atty. Jacob Segal Ronan, Segal & Harrington Voting
Dr. Kathleen Skrabut Retired Voting
Mr. Daniel J Urman Retired Voting
Mr. Joseph Wamness Elder Service Plan of the North Shore Voting
Mr. Justin A Young Community volunteer Voting

Constituent Board Members

Name Company Affiliations Status
-- -- --

Youth Board Members

Name Company Affiliations Status
-- -- --

Advisory Board Members

Name Company Affiliations Status
-- -- --

Board Demographics

Ethnicity African American/Black: 0
Asian American/Pacific Islander: 0
Caucasian: 25
Hispanic/Latino: 0
Native American/American Indian: 0
Other: 0
Other (if specified): 0
Gender Female: 12
Male: 13
Not Specified 0

Board Information

Board Term Lengths --
Board Term Limits --
Board Meeting Attendance % --
Written Board Selection Criteria Under Development
Written Conflict Of Interest Policy Yes
Percentage of Monetary Contributions 0%
Percentage of In-Kind Contributions --
Constituency Includes Client Representation Yes

Standing Committees

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CEO/Executive Director/Board Comments

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Foundation Comments

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Financials


Revenue vs. Expense ($000s)

Expense Breakdown 2016 (%)

Expense Breakdown 2015 (%)

Expense Breakdown 2014 (%)

Fiscal Year July 01, 2017 to June 30, 2018
Projected Income $7,265,953.00
Projected Expense $2,669,895.00
Form 990s

2016 990

2015 990

2014 990

Audit Documents

2016 Audited Financials

2015 Audited Financials

2014 Audited Financials

IRS Letter of Exemption

IRS Letter of Determination

Prior Three Years Total Revenue and Expense Totals

Fiscal Year 2016 2015 2014
Total Revenue $3,149,534 $4,275,825 $5,032,903
Total Expenses $3,467,429 $2,506,452 $4,949,431

Prior Three Years Revenue Sources

Fiscal Year 2016 2015 2014
Foundation and
Corporation Contributions
-- -- --
Government Contributions $0 $0 $0
    Federal -- -- --
    State -- -- --
    Local -- -- --
    Unspecified $0 -- --
Individual Contributions $2,480,967 $2,858,197 $3,720,865
Indirect Public Support $0 -- --
Earned Revenue $0 -- --
Investment Income, Net of Losses $656,885 $1,241,503 $1,196,435
Membership Dues $0 -- --
Special Events $11,682 $176,125 $115,603
Revenue In-Kind -- -- --
Other $0 -- --

Prior Three Years Expense Allocations

Fiscal Year 2016 2015 2014
Program Expense $3,124,074 $1,997,528 $4,331,751
Administration Expense $327,815 $446,462 $466,090
Fundraising Expense $15,540 $62,462 $151,590
Payments to Affiliates -- -- --
Total Revenue/Total Expenses 0.91 1.71 1.02
Program Expense/Total Expenses 90% 80% 88%
Fundraising Expense/Contributed Revenue 1% 2% 4%

Prior Three Years Assets and Liabilities

Fiscal Year 2016 2015 2014
Total Assets $31,362,599 $32,502,694 $31,359,422
Current Assets $4,803,040 $5,840,557 $6,837,138
Long-Term Liabilities $0 -- $0
Current Liabilities $350,587 $381,887 $253,771
Total Net Assets $31,012,012 $32,120,807 $31,105,651

Prior Three Years Top Three Funding Sources

Fiscal Year 2016 2015 2014
1st (Source and Amount) -- --
-- --
-- --
2nd (Source and Amount) -- --
-- --
-- --
3rd (Source and Amount) -- --
-- --
-- --

Financial Planning

Endowment Value --
Spending Policy --
Percentage(If selected) --
Credit Line Yes
Reserve Fund No
How many months does reserve cover? --

Capital Campaign

Are you currently in a Capital Campaign? No
Capital Campaign Purpose --
Campaign Goal --
Capital Campaign Dates -
Capital Campaign Raised-to-Date Amount --
Capital Campaign Anticipated in Next 5 Years? --

Short Term Solvency

Fiscal Year 2016 2015 2014
Current Ratio: Current Assets/Current Liabilities 13.70 15.29 26.94

Long Term Solvency

Fiscal Year 2016 2015 2014
Long-term Liabilities/Total Assets 0% 0% 0%

CEO/Executive Director/Board Comments

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Foundation Comments

Financial summary data in the charts and graphs above is per the organization's IRS Form 990s. Contributions from foundations and corporations are listed under individuals when the breakout was not available.

Documents


Other Documents

No Other Documents currently available.

Impact

The Impact tab is a section on the Giving Common added in October 2013; as such the majority of nonprofits have not yet had the chance to complete this voluntary section. The purpose of the Impact section is to ask five deceptively simple questions that require reflection and promote communication about what really matters – results. The goal is to encourage strategic thinking about how a nonprofit will achieve its goals. The following Impact questions are being completed by nonprofits slowly, thoughtfully and at the right time for their respective organizations to ensure the most accurate information possible.


1. What is your organization aiming to accomplish?

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2. What are your strategies for making this happen?

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3. What are your organization’s capabilities for doing this?

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4. How will your organization know if you are making progress?

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5. What have and haven’t you accomplished so far?

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