Norfolk State University Foundation Inc
Only null% goes to programs Strong reserves Growing revenue
Norfolk State University Foundation Inc is a 501(c)(3) organization based in Norfolk, Virginia, registered in 1972, with $13,370,289 in FY2024 revenue. CharityIndex grades it C+.
700 Park Ave Ste 410, Norfolk, VA, 23504 EIN 23-7235954 Since 1972
Revenue (FY2024)
$13.4M
▲ 70.8% vs prior year
Education median: $200K
Expenses (FY2024)
$7.1M
Net assets
$120.9M
Employees
—
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
C+
—Program efficiency40% of the ratingNo expense breakdown in filings
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. Not scored for Norfolk State University Foundation Inc— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
B+Financial health25% of the rating205 mo reserves · +47% 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 Norfolk State University Foundation Inc: 205 mo reserves · +47% margin earns a B+ on this criterion. See the exact thresholds →
—Governance25% of the ratingNot reported in this filing type
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. Not scored for Norfolk State University Foundation Inc— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
DTransparency10% of the rating1 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 Norfolk State University Foundation Inc: 1 of 5 disclosure signals earns a D on this criterion. See the exact thresholds →
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Contact & location
- Address
- 700 Park Ave Ste 410, Norfolk, VA, 23504
- City
- Norfolk
- State
- Virginia
- Category
- Education
- Subcategory
- Colleges & Universities
Financial trends
Revenue grew from $2.2M (FY2013) to $13.4M (FY2024) across 11 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $149KNet assets $120.9M
Operating margin
47.2%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$121.1M
Total liabilities
$149K
Net assets
$120.9M
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $13,370,289▲70.8% | $7,063,095▲7.1% | $120,920,726▲10.7% | $121,069,562▲10.3% | 990 |
| 2023 | $7,829,626▼13.0% | $6,593,800▲63.5% | $109,217,781▲11.4% | $109,807,709▲11.7% | 990 |
| 2022 | $8,996,683▼6.8% | $4,031,735▲9.5% | $98,028,778▼5.7% | $98,346,627▼5.6% | 990 |
| 2021 | $9,651,381▼79.2% | $3,680,399▲21.9% | $103,966,532▲18.6% | $104,193,941▲18.7% | 990 |
| 2020 | $46,443,476▲967% | $3,017,960▼25.1% | $87,644,225▲114% | $87,786,511▲114% | 990 |
| 2019 | $4,354,230▼16.5% | $4,031,751▲32.2% | $40,878,107▲17.7% | $41,024,994▲17.4% | 990 |
| 2018 | $5,215,617▲8.7% | $3,050,775▼10.7% | $34,721,531▲0.7% | $34,944,696▲0.7% | 990 |
| 2017 | $4,800,095▲75.9% | $3,415,140▲16.2% | $34,487,331▲17.2% | $34,699,628▲16.2% | 990 |
| 2016 | $2,728,719▼7.2% | $2,939,905▼0.6% | $29,433,375▲3.4% | $29,868,998▲3.6% | 990 |
| 2015 | $2,941,989▲35.6% | $2,957,649▲44.4% | $28,466,823▲1.4% | $28,834,196▲1.8% | 990 |
| 2013 | $2,170,278 | $2,047,949▼20.5% | $28,081,801▲15.0% | $28,320,598▲14.9% | 990 |
| 2012 | — | $2,576,292▲27.1% | $24,414,712▲8.8% | $24,645,183▲8.6% | 990 |
| 2011 | — | $2,027,226▼18.6% | $22,439,887▼2.3% | $22,687,650▼1.8% | 990 |
| 2010 | — | $2,491,090▲12.8% | $22,969,583▲12.2% | $23,107,066▲12.4% | 990 |
| 2009 | — | $2,208,126 | $20,464,869 | $20,552,161 | 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.
Grants received · $47.9M total
58 grants to Norfolk State University Foundation Inc totaling $47.9M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| American Online Giving Foundation Inc | General support | 2024 | $103,869 |
| Charities Aid Foundation America | Charitable donation | 2024 | $15,712 |
| Lawschool Admissions Council Inc | Houston forum | 2024 | $11,101 |
| Thdf II Inc | To assist local charities | 2024 | $10,000 |
| The Blackbaud Giving Fund | General support | 2024 | $9,337 |
| Old Dominion University Research Foundation | Subcontract for sponsored research classified as program services. | 2023 | $410,884 |
| American Online Giving Foundation Inc | General support | 2023 | $61,809 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2023 | $36,500 |
| Lawschool Admissions Council Inc | Nyc forum | 2023 | $16,543 |
| Thdf II Inc | To assist local charities | 2023 | $10,000 |
| Greater Washington Educational Telecommunications Association Inc | Station grant | 2023 | $8,400 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2022 | $510,576 |
| Sentara Health | Scholars grant award | 2022 | $250,000 |
| American Online Giving Foundation Inc | General support | 2022 | $202,153 |
| Winston-salem Foundation | 1 grant(s) for varying purposes | 2022 | $175,000 |
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Frequently asked questions
- Is Norfolk State University Foundation Inc a legitimate nonprofit?
- Yes. Norfolk State University Foundation Inc is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 23-7235954, based in Norfolk, Virginia. Donations are tax-deductible.
- What is Norfolk State University Foundation Inc's EIN?
- Norfolk State University Foundation Inc's Employer Identification Number (EIN) is 23-7235954.
- How much revenue does Norfolk State University Foundation Inc report?
- Norfolk State University Foundation Inc reported $13,370,289 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- What financial grade does Norfolk State University Foundation Inc have?
- CharityIndex grades Norfolk State University Foundation Inc C+, based on financial health (reserves and operating margin).
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Data for Norfolk State University Foundation Inc (EIN 23-7235954) 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.