EIN 23-7120883

Frostburg State University Foundation

IRS 501(c) type
501(c)(3)
Num. employees
3
Year formed
1971
Most recent tax filings
2024-06-01
Description
The Frostburg State University Foundation fosters, encourages, and promotes the growth, progress, and general welfare of Frostburg State University through advocacy, fundraising, investment management and stewardship. Expenses are managed through pass-through accounts that provide immediate-impact scholarships for students, a vehicle for life insurance premium payments, and record expenditures. They also provide program support to schools, departments, divisions, special interests, and other projects approved by the university as well as emergency student loans.
Also known as...
Frostburg State University Foundat
Total revenues
$6,673,393
2024
Total expenses
$3,887,342
2024
Total assets
$46,976,820
2024
Num. employees
3
2024

Program areas at Frostburg State University Foundation

Athletic - these provide support for the University athletics program.
Program support - these provide support to schools, departments, divisions, special interests, and other projects approved and recognized by the University. They also support emergency student loans.
Endowment - these provide support for student scholarships and program support.
Expenses including grants of revenue pass through accounts 552,773 77,110 47,820 pass-through - most of these provide immediate-impact scholarships for students. In addition, some provide a vehicle for life insurance premium payments, and to record expenditures that will be directly reimbursed by non-charitable income.

Who funds Frostburg State University Foundation

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
Donald and Virginia Moran FoundationThe Contribution Was Used for Student Scholarships/grants and University Research.$34,882
Hattie M. Strong Foundation (HMSF)Six (6) $5,000 Scholarships$30,000
Fidelity Investments Charitable Gift FundFor Grant Recipient's Exempt Purposes$23,200
...and 26 more grants received totalling $271,177

Financials for Frostburg State University Foundation

RevenuesFYE 06/2024
Total grants, contributions, etc.$4,252,239
Program services$124,197
Investment income and dividends$2,157,525
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$0
Net income from fundraising events$71,551
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$67,881
Total revenues$6,673,393
Data update history
April 20, 2025
Received grants
Identified 5 new grant, including a grant for $30,000 from Hattie M. Strong Foundation (HMSF)
March 14, 2025
Updated personnel
Identified 11 new personnel
January 14, 2025
Received grants
Identified 4 new grant, including a grant for $14,000 from Baltimore Community Foundation (BCF)
November 26, 2024
Updated personnel
Identified 4 new personnel
November 24, 2024
Posted financials
Added Form 990 for fiscal year 2024
Nonprofit Types
Grantmaking organizationsSchoolsHeadquarter / parent organizationsCharities
Issues
Education
Characteristics
Political advocacyFundraising eventsState / local levelEndowed supportAuction fundraisersTax deductible donationsAccepts online donations
General information
Address
101 Braddock Rd
Frostburg, MD 21532
Metro area
Cumberland, MD-WV
County
Allegany County, MD
Website URL
frostburg.edu/foundation/index.php 
Phone
(301) 687-4161
IRS details
EIN
23-7120883
Fiscal year end
June
Taxreturn type
Form 990
Year formed
1971
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
B80: Student Services and Organizations of Students
NAICS code, primary
813211: Grantmaking Foundations
Parent/child status
Central organization
California AB-488 details
AB 488 status
May Operate or Solicit for Charitable Purposes
Charity Registration status
Current
FTB status revoked
Not revoked
AG Registration Number
CT0153765
FTB Entity ID
None yet
AB 488 data last updated ("as-of") date
2025-07-02
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