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Ecsu Foundation INC FY2024 filing

Tax-deductible

Willimantic, CT501(c)(3)EIN 23-7111053Revenue $2.2M in FY2024

On file with the IRSecsufoundation.comGelsiyoung Room 120, 06226-0000 · Willimantic, CTTax-exempt since Nov 1972Publicly supported — 509(a)(2)

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The Ecsu Foundation, INC. Is dedicated to support of education, research, programs and scholarships at eastern connecticut state university.

501(c)(3) charity; gifts are tax-deductible.
53¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: 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
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 $1.3M a year · 46% 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
53%
of spending
Worth a look: 53% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
19 mo
of spending, in cash
Looks good: 19.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $44K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.2M
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
14
of 14 voting members
Looks good: 14 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.2M
-16% vs prior year
Spent
$873K
To programs
53%
Net assets
$25.0M
By yearFY2020–FY2025
Revenue
$2.2M
FY2024▼ -16%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.7M
FY2021$3.6M
FY2022$2.6M
FY2023$2.7M
FY2024$2.2M
FY2025$2.8M
Expenses
$873K
FY2024▼ -58%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.7M
FY2021$1.3M
FY2022$2.0M
FY2023$2.1M
FY2024$873K
FY2025$967K
Net assets
$25.0M
FY2024▲ +12%
Tap a bar for its year
Net assets by fiscal year
FY2020$19.3M
FY2021$23.0M
FY2022$20.7M
FY2023$22.3M
FY2024$25.0M
FY2025$27.3M

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 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 Nov 1972.

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

Where the money goes

53 cents of each dollar spent went to programs.

Program services 53% · $465K Management & general 45% · $393K Fundraising 2% · $15K

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

14 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Justin Murphy
President
$0Pt VII · Sec A
Kathleen M Regan-Pyne
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Wendy Ernst
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Sarah Kannas
Director
$0Pt VII · Sec A
See Ecsu 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

Supports education, research, programs, and scholarships at Eastern Connecticut State University.

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Provided by the organization

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1 program · $465K · in their own filed words · FY2023
01

Promotion, encouragement and assistance of all forms of education, research and athletics as it relates to eastern connecticut state university.

$465Kprogram 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
Connecticut Community Foundation INCFY2025$44K
Total grants receivedfrom 1 funder$44K
Grants paid · 9 grants · $3.2M · 2019–2024
Eastern Connecticut State UniversityFY2024$219,036
Eastern Connecticut State UniversityFY2024$26,300
Eastern Connecticut State UniversityFY2024$5,398
Eastern Connecticut State UniversityFY2023$220,751
Eastern Connecticut State UniversityFY2023$151,425
Eastern Connecticut State UniversityFY2022$669,550
Eastern Connecticut State UniversityFY2021$799,712
Eastern Connecticut State UniversityFY2020$531,166
Eastern Connecticut State UniversityFY2019$529,671

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.2M
Ln 12
Gifts and grantsLn 1h$1.3M
Investment incomeLn 3$954K
Other incomeLn 4–11$32K
Money outPt IX
$873K
Ln 25
Programscol B$465K
Managementcol C$393K
Fundraisingcol D$15K
Owns and owesPt X
$25.0M
net assets · Ln 32
Cash and savingsLn 1–2$1.4M
Total assetsLn 16$26.2M
LiabilitiesLn 26$1.2M
PeoplePt VI, VII
14
listed · VII A
PaidVII A0
Voting boardVI 1a14
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.3M
Noncash giftsLn 1g$21K
Investment incomeLn 3$954K
Other incomeLn 4–11$32K
Gains on assetsLn 7$426K
Total revenueLn 12$2.2M
Assets in detailPt X, end of year
CashLn 1$645K
SavingsLn 2$768K
Cash and savings togetherLn 1–2$1.4M
InvestmentsLn 11–13$21.0M
Land, buildings, equipmentLn 10c$1.6M
Other assetsLn 15$1.8M
Total assetsLn 16$26.2M
LiabilitiesLn 26$1.2M
Net assetsLn 32$25.0M
OperationsPt I, VI
EmployeesI 52
VolunteersI 614
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$398K$1.4M
InvestmentsLn 11–13$19.3M$21.0M
Land, buildings, equipmentLn 10c$1.8M$1.6M
Total assetsLn 16$23.6M$26.2M
LiabilitiesLn 26$1.3M$1.2M
Net assetsLn 32$22.3M$25.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$372K$372K
Pay of disqualified personsLn 6$172K$172K
Other employee benefitsLn 9$4K$4K
Payroll taxesLn 10$14K$14K
Legal feesLn 11b$32K$32K
Accounting feesLn 11c$38K$38K
Investment management feesLn 11f$104K$104K
Other fees for servicesLn 11g$12K$12K
Office expensesLn 13$3K$3K
OccupancyLn 16$26K$26K
Depreciation, depletion and amortizationLn 22$43K$43K
InsuranceLn 23$9K$9K
Other expenses (24a–d)Ln 24$18K$3K$15K
All other expensesLn 24e$27K$21K$6K
Total functional expensesLn 25$873K$465K$393K$15K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $2.8M$967K$1.8M$27.3M 990 PDF
FY2024 Viewing $2.2M$873K$1.4M$25.0M 990 PDF
FY2023 $2.7M$2.1M$587K$22.3M 990 PDF
FY2022 $2.6M$2.0M$614K$20.7M 990 PDF
FY2021 $3.6M$1.3M$2.3M$23.0M 990 PDF
FY2020 $2.7M$1.7M$1.0M$19.3M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $2,246,741 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,007,681$1,261,249
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $703,366$953,978
I-11 Other revenuePrior year −$30,434$31,514
I-12 Total revenuePrior year $2,680,613$2,246,741
I-13 Grants and similar amounts paidPrior year $1,403,281$372,176
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $211,664$189,858
I-16a Professional fundraising feesPrior year $12,230$0
I-17 Other expensesPrior year $466,121$310,897
I-18 Total expensesPrior year $2,093,296$872,931
I-19 Revenue less expensesPrior year $587,317$1,373,810
Part VI · Governance 14 of 14 board members independent, 2 to look at
VI-1a Voting members of the governing body14
VI-1b Independent voting members14
VI-12a Written conflict of interest policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $2,246,741 across 7 lines filed
VIII-1f All other contributions, gifts and grants$1,261,249
VIII-1g Noncash contributions (included above)$20,550
VIII-1h Total contributions, gifts and grants$1,261,249
VIII-3 Investment incomeExcluded from tax $527,980$527,980
VIII-7 Net gain or loss on sales of assetsExcluded from tax $425,998$425,998
VIII-8 Net income from fundraising eventsExcluded from tax $31,514$31,514
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $985,492$2,246,741
Part IX · Statement of functional expenses $872,931 across 14 lines filed
IX-1 Grants to domestic organizationsPrograms $372,176$372,176
IX-6 Pay of disqualified personsManagement $172,323$172,323
IX-9 Other employee benefitsManagement $3,766$3,766
IX-10 Payroll taxesManagement $13,769$13,769
IX-11b Legal feesManagement $31,600$31,600
IX-11c Accounting feesManagement $37,906$37,906
IX-11f Investment management feesManagement $103,958$103,958
IX-11g Other fees for servicesManagement $12,000$12,000
IX-13 Office expensesManagement $3,018$3,018
IX-16 OccupancyPrograms $26,397$26,397
IX-22 Depreciation, depletion and amortizationPrograms $42,520$42,520
IX-23 InsuranceManagement $9,168$9,168
IX-24 Other expenses (24a–d)Programs $2,710 · Fundraising $14,819$17,529
IX-24e All other expensesPrograms $21,000 · Management $5,801$26,801
IX-25 Total functional expensesPrograms $464,803 · Management $393,309 · Fundraising $14,819$872,931
Part X · Balance sheet $26,204,468 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $257,964$644,771
X-2 Savings and temporary cash investmentsStart of year $140,212$768,303
X-3 Pledges and grants receivableStart of year $180,247$381,552
X-4 Accounts receivableStart of year $32,917$0
X-8 Inventories for sale or useStart of year $14,384$0
X-9 Prepaid expenses and deferred chargesStart of year $3,385$3,148
X-10c Land, buildings and equipment, netStart of year $1,794,897$1,577,271
X-11 Publicly traded securitiesStart of year $19,305,863$20,989,998
X-15 Other assetsStart of year $1,839,425$1,839,425
X-16 Total assetsStart of year $23,569,294$26,204,468
X-17 Accounts payable and accrued expensesStart of year $1,263,123$1,153,098
X-19 Deferred revenueStart of year $7,510$3,011
X-26 Total liabilitiesStart of year $1,270,633$1,156,109
X-27 Net assets without donor restrictionsStart of year $1,129,753$1,551,256
X-28 Net assets with donor restrictionsStart of year $21,168,908$23,497,103
X-32 Total net assets or fund balancesStart of year $22,298,661$25,048,359
X-33 Total liabilities and net assetsStart of year $23,569,294$26,204,468
Part XI · Reconciliation of net assets $25,048,359 net assets at year end
XI-1 Total revenue$2,246,741
XI-2 Total expenses$872,931
XI-3 Revenue less expenses$1,373,810
XI-4 Net assets at start of year$22,298,661
XI-5 Net unrealized gains (losses) on investments$1,629,862
XI-9 Other changes in net assets−$253,974
XI-10 Net assets at end of year$25,048,359

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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