Marshall University Foundation Incorporated
75% goes to programs $3 to raise $100 Strong reserves Growing revenue
Marshall University Foundation Incorporated is a 501(c)(3) organization based in Huntington, West Virginia, registered in 1951, with $85,061,153 in FY2024 revenue. CharityIndex grades it A, and it directs about 75% of spending to programs.
519 John Marshall Dr, Huntington, WV, 25703 EIN 55-6011111 Since 1951
Revenue (FY2024)
$85.1M
▲ 283.7% vs prior year
Education median: $200K
Expenses (FY2024)
$19.8M
Net assets
$371.5M
Employees
44
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
AProgram efficiency40% of the rating75% to programs · $3 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Marshall University Foundation Incorporated: 75% to programs · $3 to raise $100 earns a A on this criterion. See the exact thresholds →
B+Financial health25% of the rating225 mo reserves · +77% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Marshall University Foundation Incorporated: 225 mo reserves · +77% margin earns a B+ on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Marshall University Foundation Incorporated: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Marshall University Foundation Incorporated: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
The marshall university foundation was chartered on january 3, 1947 as an independent non-profit organization to receive, invest, administer and disburse private resources on behalf of marshall university.
What they do
The organization provides support to the university broadly and to individual departments in support of their respective education priorities in the form of payroll and stipend support, as well as to designated funds on behalf of departmental and university projects.
Department and unit operating funds provide additional resources for programs, travel, training, equipment and other miscellaneous purposes on behalf of university departments
Other expenses attributable to program funds in support of the university and departments, and adjustments for bad debts.
Contact & location
- Address
- 519 John Marshall Dr, Huntington, WV, 25703
- City
- Huntington
- State
- West Virginia
- Category
- Education
- Subcategory
- Support Foundations & Fundraising
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $15.3M (FY2013) to $85.1M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $70.5MNet assets $371.5M
Operating margin
76.7%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$442.0M
Total liabilities
$70.5M
Net assets
$371.5M
Salaries & benefits
$3.4M
17% of expenses
Board members
25
25 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $85,061,153▲284% | $19,801,569▼60.4% | $371,479,968▲26.3% | $441,956,283▲28.5% | 990 |
| 2023 | $22,167,378▼53.9% | $50,037,003▲173% | $294,213,334▼4.3% | $343,852,369▼11.2% | 990 |
| 2022 | $48,068,529▲70.3% | $18,321,336▲14.6% | $307,359,077▲13.6% | $387,058,001▲12.3% | 990 |
| 2021 | $28,228,020▼28.4% | $15,991,740▲15.5% | $270,552,132▼5.1% | $344,717,415▼5.6% | 990 |
| 2020 | $39,444,191▲20.2% | $13,848,567▼6.2% | $285,008,470▲28.2% | $365,151,220▲22.9% | 990 |
| 2019 | $32,818,668▼35.6% | $14,771,440▼12.2% | $222,238,060▼3.4% | $297,189,135▼2.5% | 990 |
| 2018 | $50,987,540▲284% | $16,820,028▲2.0% | $229,955,364▲23.4% | $304,781,369▲17.8% | 990 |
| 2017 | $13,272,805▼17.7% | $16,493,967▼10.4% | $186,421,007▲2.7% | $258,659,897▲1.0% | 990 |
| 2016 | $16,130,799▲97.9% | $18,405,300▲37.7% | $181,490,955▲7.4% | $256,157,167▲8.1% | 990 |
| 2015 | $8,151,223▼65.6% | $13,362,135▼43.0% | $169,052,937▼5.5% | $237,000,791▲25.8% | 990 |
| 2014 | $23,679,503▲55.0% | $23,426,194▲50.2% | $178,846,222▲2.3% | $188,391,142▲1.7% | 990 |
| 2013 | $15,273,089 | $15,594,761▲64.6% | $174,860,029▲8.7% | $185,285,932▲7.4% | 990 |
| 2012 | — | $9,472,430▼22.8% | $160,810,465▲19.0% | $172,446,231▲16.4% | 990 |
| 2011 | — | $12,268,619▲39.1% | $135,152,928▲10.3% | $148,132,159▲8.8% | 990 |
| 2010 | — | $8,822,312 | $122,563,315 | $136,103,081 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Dr Ronald Area — $276,390 (1.40% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Dr Ronald Area | Ceo (retired) | 40 | $276,390 |
| Mr R Scott Anderson | Cfo | 40 | $152,951 |
| Mr Nicolas Karagosian | Ceo/foundation President | 40 | $99,748 |
| Dr Joseph Touma | Director | 2 | — |
| Dr Robert Hess | Director | 2 | — |
| Mr Barry Burgess | Director | 2 | — |
| Mr Bernard Coston | First Vice Chair | 2 | — |
| Mr Charles W Pace | Director | 2 | — |
| Mr Danny Vance | Secretary | 2 | — |
| Mr Louis Costanzo III | Director | 2 | — |
| Mr Marc Williams | Director | 2 | — |
| Mr Mark A Chandler | Director | 2 | — |
| Mr Max Lederer | Director | 2 | — |
| Mr Norman Mosrie | Director | 2 | — |
| Mr Rex W Johnson | Director | 2 | — |
| Mr Robert Simpson | Director | 2 | — |
| Mrs A Sue Zemba | Treasurer | 2 | — |
| Mrs Carol J Hartley | Director | 2 | — |
| Mrs Nancy E Campbell | Board Chair | 3 | — |
| Mrs Sharon D Shaffer | Immediate Past Chair | 2 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Adl Ventures | Work Related To Just Transition Fund Project-ecosystem Building | $225,000 |
| Stanbury Uniforms LLC | Band Uniforms | $151,537 |
| Education Design Lab | Lab Work Obo Marshall and Mountwest | $150,000 |
| Gener8tor Management LLC | Gener8tor Gbeta Virtual Accelerator Pilot For Startup Creation | $110,000 |
Grants received · $6.6M total
117 grants to Marshall University Foundation Incorporated totaling $6.6M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Rockefeller Philanthropy Advisors Inc | Education | 2024 | $350,000 |
| Greater Horizons | Education | 2024 | $203,163 |
| National Christian Charitable Foundation | Colleges and universities | 2024 | $27,063 |
| American Online Giving Foundation Inc | General support | 2024 | $24,014 |
| Charities Aid Foundation America | Charitable donation | 2024 | $22,000 |
| American Endowment Foundation | Educational | 2023 | $199,810 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2023 | $82,855 |
| Vanguard Charitable Endowment Program | For recipient's exempt purpose | 2023 | $76,500 |
| Morgan Stanley Global Impact Funding Trust Inc | Unrestricted general support | 2023 | $35,000 |
| Charities Aid Foundation America | Charitable donation | 2023 | $26,147 |
| Rockefeller Philanthropy Advisors Inc | General | 2023 | $25,000 |
| National Philanthropic Tr | International | 2023 | $20,000 |
| Greater Cincinnati Foundation | Programatic support | 2023 | $15,000 |
| National Christian Charitable Foundation | Support | 2023 | $13,000 |
| American Online Giving Foundation Inc | General support | 2023 | $8,337 |
Grants made · $14.8M in FY2024
1 grant totaling $14.8M in FY2024. All grants made by Marshall University Foundation Incorporated →
| Recipient | Purpose | Amount |
|---|---|---|
| Marshall University | To support the students and university departments in their educational mission | $14,824,127 |
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Frequently asked questions
- Is Marshall University Foundation Incorporated a legitimate nonprofit?
- Yes. Marshall University Foundation Incorporated is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 55-6011111, based in Huntington, West Virginia. Donations are tax-deductible.
- What is Marshall University Foundation Incorporated's EIN?
- Marshall University Foundation Incorporated's Employer Identification Number (EIN) is 55-6011111.
- How much revenue does Marshall University Foundation Incorporated report?
- Marshall University Foundation Incorporated reported $85,061,153 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Marshall University Foundation Incorporated's spending goes to programs?
- Marshall University Foundation Incorporated spends about 75% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Marshall University Foundation Incorporated have?
- CharityIndex grades Marshall University Foundation Incorporated A, based on program efficiency and fundraising cost.
- How much does Marshall University Foundation Incorporated's highest-paid employee make?
- The highest reported compensation on Marshall University Foundation Incorporated's latest Form 990 is $276,390, paid to Dr Ronald Area (Ceo (retired)).
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Data for Marshall University Foundation Incorporated (EIN 55-6011111) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.