The mission of the Worcester State Foundation is to promote the growth and progress of Worcester State university beyond what is possible with State funding.

501(c)(3) charity; gifts are tax-deductible.
97¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · Form 990-TIndependent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990-T
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $4.4M a year · 65% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
97%
of spending
Looks good: 97% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
10 mo
of spending, in cash
Plus $35.0M in investments, Pt X · Ln 11–13
Looks good: 10.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $65K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.3M
3% of total assets
Looks good: liabilities are 3% of assets; 50% or less.
Pt X · Ln 26
Independent board members
47
of 47 voting members
Looks good: 47 of 47 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.9M
-46% vs prior year
Spent
$2.3M
To programs
97%
Net assets
$37.9M
By yearFY2020–FY2025
Revenue
$3.9M
FY2022▼ -46%
Tap a bar for its year
Revenue by fiscal year
FY2020$3.0M
FY2021$7.2M
FY2022$3.9M
FY2023$8.3M
FY2024$3.3M
FY2025$15.1M
Expenses
$2.3M
FY2022▲ +13%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.0M
FY2021$2.0M
FY2022$2.3M
FY2023$2.0M
FY2024$2.8M
FY2025$3.1M
Net assets
$37.9M
FY2022▼ -14%
Tap a bar for its year
Net assets by fiscal year
FY2020$33.6M
FY2021$44.1M
FY2022$37.9M
FY2023$47.1M
FY2024$52.1M
FY2025$59.3M

From the FY2022 Form 990 (year ending June 2022) · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Dec 1993.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

97 cents of each dollar spent went to programs.

Program services 97% · $2.2M Management & general 3% · $66K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

47 people listed on the 990-T.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Immediate Past Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
President/Clerk
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Worcester State Foundation INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides financial aid and support for students and educational activities at Worcester State University.

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Provided by the organization

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2 programs · $2.2M · in their own filed words · FY2021
01

Provides funds to worcester state university for expenses related to various capital projects and funding of various educational programs and institutes. Including latino educaton institute and an internship program as well as various other programs.

$1.5Mprogram expense
02

Scholarships

Transfer of funds to worcester state university for scholarships and awards awarded to students.

$771Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 2 funders$65K
Grants paid · 12 grants · $13.3M · 2019–2024
Worcester State UniversityFY2024$1,938,154
Unitemized GrantFY2024$1,022,182
Worcester State UniversityFY2023$1,641,957
Unitemized GrantFY2023$1,059,135
Worcester State UniversityFY2022$1,004,837
Unitemized GrantFY2022$823,392
Worcester State UniversityFY2021$1,238,943
Unitemized GrantFY2021$770,980
Worcester State UniversityFY2020$1,292,720
Unitemized GrantFY2020$625,826
Worcester State UniversityFY2019$1,319,700
Unitemized GrantFY2019$606,382

By the numbers

The FY2022 990-T, line by line.

1The main four
Money in
$3.9M
Gifts and grants$2.5M
Investment income$1.4M
Money out
$2.3M
Programs$2.2M
Management$66K
Owns and owes
$37.9M
net assets
Cash and savings$1.9M
Total assets$39.2M
Liabilities$1.3M
People
47
listed
Paid0
Voting board47
Independent47
2In more detail
Revenue in detail
Gifts and grants$2.5M
Investment income$1.4M
Total revenue$3.9M
Assets in detailEnd of year
Cash and savings together$1.9M
Total assets$39.2M
Liabilities$1.3M
Net assets$37.9M
Operations
Employees0
Volunteers359
Fiscal year endsJune
Conflict-of-interest policyYes
Whistleblower policyNo
Records policyYes

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $15.1M$3.1M$12.0M$59.3M 990 PDF
FY2024 $3.3M$2.8M$504K$52.1M 990 PDF
FY2023 $8.3M$2.0M$6.3M$47.1M 990 PDF
FY2022 Viewing $3.9M$2.3M$1.6M$37.9M 990 PDF
FY2021 $7.2M$2.0M$5.1M$44.1M 990 PDF
FY2020 $3.0M$2.0M$974K$33.6M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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