2026-04-07T13:06:49-05:00 2025-06-30 231909723 MCKONLY & ASBURY LLP 415 FALLOWFIELD ROAD CAMP HILL PA 17011 990 2024-07-01 237007734 LOCK HAVEN UNIVERSITY FOUNDATION LOCK 5704842383 10 SUSQUEHANNA AVE LOCK HAVEN PA 17745 JENNIFER RITER BOARD CHAIR 5704842383 2026-04-07 1 1 ALYSSA N IRISH P02389116 7177617910 2026-04-07 2024 2025-03-06 01:10:19Z JENNIFER RITER 10 SUSQUEHANNA AVE LOCK HAVEN PA 17745 7105753 0 X WWW.LHUFOUNDATION.ORG X 1967 PA TO GENERATE AND MANAGE RESOURCES FOR THE BENEFIT OF COMMONWEALTH UNIVERSITY - LOCK HAVEN AND ITS STUDENTS. 15 15 47 0 0 0 2750537 1710657 931779 1199404 964859 1308718 90906 900034 4738081 5118813 1121178 942572 0 0 848108 932850 0 0 498867 1113812 1643014 3083098 3518436 1654983 1600377 28073676 29688716 8931751 8252730 19141925 21435986 TO GENERATE AND MANAGE RESOURCES FOR THE BENEFIT OF COMMONWEALTH UNIVERSITY - LOCK HAVEN AND ITS STUDENTS. 0 0 931585 1995836 SUPPORT OF COMMONWEALTH UNIVERSITY - LOCK HAVEN'S ACADEMIC PROGRAMS BASED ON THE UNIVERSITY CASE FOR SUPPORT WHICH INCLUDES FACILITY UPGRADES, FACULTY ENHANCEMENTS, GLOBAL HONORS PROGRAMS, INTERNATIONAL EDUCATION, SCIENCE EDUCATION AND STUDENT ENHANCEMENTS AND INTERCOLLEGIATE ATHLETICS. 942572 942572 SUPPORT OF STUDENT SCHOLARSHIPS AND AWARDS BASED ON DONOR DESIGNATION AND CRITERIA. THE ORGANIZATION AWARDS NEARLY 400 ANNUAL SCHOLARSHIPS AND AWARDS TO BOTH FRESHMEN AND UPPERCLASSMEN BASED ON NEED AND MERIT. OWN AND OPERATE TWO STUDENT HOUSING PROJECTS (EVERGREEN COMMONS AND THE FOUNDATION VILLAGE AT CLEARFIELD) FOR THE BENEFIT OF LOCK HAVEN OR ITS STUDENTS. 1874157 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 19 0 47 0 1 1 0 0 0 0 0 0 0 0 0 0 0 X 15 15 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X DANIEL CUMMINGS - ASSOC DIRECTOR OF FINANCE & ACCOUNTING 5704842383 10 SUSQUEHANNA AVE LOCK HAVEN PA 17745 JENNIFER RITER CHAIR 4.00 X X 0 0 0 MILTON STAN ALLEN VICE CHAIR 0.50 X X 0 0 0 JAMES BERKEBILE SECRETARY 0.50 X X 0 0 0 JEFFREY PARKER TREASURER 1.00 X X 0 0 0 RONALD BOWES MEMBER 0.50 X 0 0 0 DONALD CALCAGNI FINANCE COMMITTEE CHAIR 0.50 X 0 0 0 FRANCIS CONDINO ADVANCEMENT COMMITTEE CHAI 0.50 X 0 0 0 ANN DELCOLLO MEMBER 0.00 X 0 0 0 JOSEPH KOEHLER GOVERNANCE COMMITTEE CHAIR 0.50 X 0 0 0 ROBERT LOMISON MEMBER 0.00 X 0 0 0 PEGGY MCFARLAND MEMBER 0.00 X 0 0 0 ED SHIFFLETT MEMBER 0.00 X 0 0 0 POLLY SPANGLER MEMBER 0.00 X 0 0 0 THANE TURNER MEMBER 0.00 X 0 0 0 EDWARD WRIGHT MEMBER 0.00 X 0 0 0 ASHLEY KOSER EXECUTIVE DIRECTOR 37.50 X 118106 0 32715 118106 0 32715 1 0 1 0 0 X 1710657 18049 1710657 CONTRACTED SERVICES 561000 903833 903833 ATHLETICS REVENUE 561000 295571 295571 1199404 436042 436042 2244984 1918522 326462 326462 326462 872676 0 872676 872676 872676 172020 68418 103602 103602 GAIN ON EXTINGUISHMENT OF DEBT 900099 443358 443358 OTHER REVENUE 900099 16226 16226 DUES, COMMISSION AND GUARANTEES 900099 10386 10386 469970 5118813 1995836 0 1412320 942572 942572 164263 430 92141 71692 491656 1628 218891 271137 203257 203257 73674 73674 27310 27310 38200 38200 240976 108689 132287 3846 423 3423 3045 901 2144 4024 4024 173992 7210 166782 EQUIPMENT AND SUPPLIES 525301 473410 17884 34007 HOUSING, MEALS, AND TRA 198172 153089 45083 MISCELLANEOUS 146038 76081 42966 26991 LICENSES AND PERMITS 81227 81227 200883 109724 44625 46534 3518436 1874157 1145412 498867 916011 664587 490220 613277 1764489 1563429 69465 0 37470 0 68439 92194 19315150 13820832 5517819 5494318 18752102 20814723 457661 446188 28073676 29688716 1093004 604313 32911 83659 7443705 7217894 362131 346864 8931751 8252730 X -7051745 -1832465 26193670 23268451 19141925 21435986 28073676 29688716 X 1600377 852656 -74427 -84545 X X 0 1 X 1 0 X 1100417 1178482 1178482 2749727 1710657 7917765 1100417 1178482 1178482 2749727 1710657 7917765 7917765 336508 365962 526402 621916 436042 2286830 10204595 0.77590 0.76530 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 270635 X X X 0 13978362 443593 6292009 389899 503609 19820456 12309454 409623 2099267 403234 436748 13978362 11939122 162358 1568744 610318 396707 12663200 14118478 194231 -1702809 447186 223593 11939122 10687972 690343 4131286 417337 973787 14118478 0 0 1077341 1077341 15651999 13187838 2464161 2508245 632994 1875251 77565 77565 5494318 SPLIT INTEREST AGREEMENTS 346864 346864 X 7287661 852656 -84545 768111 6519550 74427 -1475164 -1400737 5118813 5436958 1918522 1918522 3518436 0 3518436 PART III, LINE 4: THE FOUNDATION MAINTAINS A DONATED COLLECTION OF OIL PAINTINGS AND BLACK/WHITE ETCHINGS BY JOHN SLOAN.IN ADDITION, THE FOUNDATION DISPLAYS DONATED PORTRAITS IN THE DURRWACHTER ALUMNI CONFERENCE CENTER. IN ACCORDANCE WITH ITS MISSION TO GENERATE AND MANAGE RESOURCES FOR THE BENEFIT OF COMMONWEALTH UNIVERSITY - LOCK HAVEN AND ITS STUDENTS, THE COLLECTIONS ARE USED BY THE UNIVERSITY FOR EDUCATION, INCLUDING FOR LOAN OR EXCHANGE PROGRAMS, AND PRESERVES THE HISTORY OF THE FOUNDATION AND THE UNIVERSITY. PART V, LINE 4: THE INTENDED USE OF THE FOUNDATION'S ENDOWMENT FUNDS ARE DRIVEN BY THE DONOR'S INTENT. AT JUNE 30, 2022, $6,504,757 OF THE TOTAL $11,475,729 ENDOWMENT NET ASSETS ARE FOR SCHOLARSHIPS. THE REMAINING ENDOWMENT NET ASSETS ARE FOR PROGRESS OF DESIGNATED DEPARTMENTS OR PROJECTS AND CHARITABLE GIFTS PAYABLE IN FUTURE PERIODS. PART X, LINE 2: THE FOUNDATION IS A NOT-FOR-PROFIT CORPORATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM FEDERAL INCOME TAXES ON ITS EXEMPT INCOME UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE. THE FOUNDATION IS SUBJECT TO FEDERAL TAX ON THE UNRELATED BUSINESS TAXABLE INCOME THAT MAY RESULT FROM CERTAIN RENTAL ACTIVITIES, HOWEVER, NO TAX LIABILITY WAS INCURRED FOR THE YEAR ENDED JUNE 30, 2025. THE FOUNDATION ADHERES TO THE PROVISIONS OF FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC) 740, INCOME TAXES (ASC 740). ASC 740 ESTABLISHES RULES FOR RECOGNIZING AND MEASURING TAX POSITIONS IN AN INCOME TAX RETURN, INCLUDING DISCLOSURES OF UNCERTAIN TAX POSITIONS (UTPS). ASC 740 MANDATES THAT ORGANIZATIONS EVALUATE ALL MATERIAL INCOME TAX POSITIONS FOR PERIODS THAT REMAIN OPEN UNDER APPLICABLE STATUTES OF LIMITATION, AS WELL AS POSITIONS EXPECTED TO BE TAKEN IN FUTURE RETURNS. THE UTP RULES THEN IMPOSE A RECOGNITION THRESHOLD ON EACH TAX POSITION. AN ORGANIZATION CAN RECOGNIZE AN INCOME TAX BENEFIT ONLY IF THE POSITION HAS A "MORE LIKELY THAN NOT" (I.E. MORE THAN 50 PERCENT) CHANCE OF BEING SUSTAINED ON ITS TECHNICAL MERITS. DURING 2025, THE FOUNDATION HAS TAKEN NO MATERIAL TAX POSITIONS ON ITS APPLICABLE TAX FILINGS THAT DO NOT MEET THE MORE LIKELY THAN NOT THRESHOLD. AS A RESULT, NO AMOUNT FOR UTPS HAS BEEN INCLUDED IN THE FINANCIAL STATEMENTS. THE FOUNDATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. THE FOUNDATION BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO FISCAL YEAR ENDED JUNE 30, 2022. PART XI, LINE 2D - OTHER ADJUSTMENTS: OTHER PROGRAMS -84,545. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -1,918,522. GAIN ON EXTINGUISHMENT OF DEBT 443,358. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 1,918,522. WRESTLING NATIONALS TICKETS 55005 55005 43600 ALUMNI GOLF TOURNAMENT 21330 21330 982 4114 2662 682 5 41482 41482 5336 5035 4684 896 117817 117817 6318 9149 7346 45178 67991 49826 0 COMMONWEALTH UNIVERSITY OF PENNSYLVANIA 400 E 2ND STREET BLOOMSBURG PA 17815 232738930 942572 0 COST SCHOLARSHIPS & AID - SUPPORT OF UNIVERSITY PROGRAMS, STUDENT AND FACULTY SCHOLARSHIPS AND AWARDS, FUNDS TO ASSIST WITH CAPITAL IMPROVEMENTS PART I, LINE 2: THE FOUNDATION SCHOLARSHIP PROGRAM IS HELD DURING THE SPRING SEMESTER PROVIDING RECOGNITION AND FINANCIAL ASSISTANCE TO STUDENTS WHO ARE SELECTED USING A RANGE OF CRITERIA. RECIPIENTS ARE CHOSEN BY UNIVERSITY DEPARTMENT COMMITTEES WHICH ESTABLISH THEIR OWN PROCESSES, POLICIES AND PROCEDURES WHILE ADHERING TO ORIGINAL DONOR INTENT. 0 0 0 0 0 0 0 0 0 ASHLEY KOSER EXECUTIVE DIRECTOR 118106 0 0 0 0 0 0 0 32715 0 150821 0 0 0 X 6 85964 FMV X NONCASH CONTRIBUTIONS 126 18049 FMV 0 0 0 FORM 990, PART VI, SECTION A, LINE 3 THE FOUNDATION ENGAGES A MANAGEMENT COMPANY TO OPERATE THE EVERGREEN COMMONS STUDENT HOUSING PROJECT. FORM 990, PART VI, SECTION B, LINE 11B THE FIRST DRAFT OF THE FORM 990 IS REVIEWED BY THE CHIEF FINANCIAL OFFICER WITH THE PAID PREPARER. THE SECOND DRAFT IS REVIEWED BY THE FINANCE COMMITTEE, AS PRESENTED BY THE PAID PREPARER. THE THIRD DRAFT IS PROVIDED TO THE BOARD OF DIRECTORS, PREFERABLY ELECTRONICALLY, PRIOR TO THE NEXT REGULARLY SCHEDULED MEETING OF THE BOARD OF DIRECTORS. THE FINAL DRAFT OF THE FORM 990 IS APPROVED OR DENIED BY THE BOARD OF DIRECTORS. AFTER FINAL APPROVAL BY THE BOARD OF DIRECTORS, THE FINAL FORM 990 WILL BE FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS REQUIRES EACH DIRECTOR AND EMPLOYEE TO ANNUALLY (1) REVIEW THE CONFLICT OF INTEREST POLICY; (2) DISCLOSE ANY POSSIBLE PERSONAL FAMILIAL, OR BUSINESS RELATIONSHIPS THAT REASONABLY COULD GIVE RISE TO A CONFLICT INVOLVING THE FOUNDATION OR UNIVERSITY; AND (3) ACKNOWLEDGE BY HIS OR HER SIGNATURE THAT HE OR SHE WILL ACT IN ACCORDANCE WITH THE LETTER AND SPIRIT OF THIS POLICY. INFORMATION PROVIDED ON THE ANNUAL FORM SHALL BE HELD IN CONFIDENCE EXCEPT WHEN, AFTER CONSULTATION WITH THE MEMBER, THEFOUNDATION OR UNIVERSITY BEST INTERESTS WOULD BE SERVED BY DISCLOSURE. FORM 990, PART VI, SECTION B, LINE 15 A RECOMMENDATION FOR THE ANNUAL COMPENSATION IS DEVELOPED BY THE EXECUTIVE COMMITTEE, WHO USES SALARY SURVEYS AND MARKET COMPARISONS FOR COMPARABLE POSITIONS TO IDENTIFY REASONABLE COMPENSATION AND BENEFIT LEVELS. THIS RECOMMENDATION IS PRESENTED TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE ON THEIR WEBSITE. WHEN A WRITTEN REQUEST IS RECEIVED FOR PUBLIC INSPECTION OF THE FINANCIAL STATEMENTS, THE EXECUTIVE DIRECTOR, A COMMITTEE OF THE BOARD OF DIRECTORS, AND/OR THE BOARD OF DIRECTORS WILL EVALUATE THE FACTS AND CIRCUMSTANCES SPECIFIC TO THE INDIVIDUAL REQUEST TO DETERMINE IF THE REQUEST WILL BE GRANTED IN ACCORDANCE WITH APPLICABLE LAW. FORM 990, PAGE 9, PART VIII, LINE 11A DURING 2017, THE FOUNDATION DONATED ITS FAIRVIEW SUITES STUDENT HOUSING PROJECT TO THE UNIVERSITY. AS PART OF THIS CONTRIBUTION, THE FOUNDATION AGREED TO DESIGNATE AND HOLD ASIDE CERTAIN FUNDS TO COVER UNEXPECTED FUTURE REPAIR COSTS TO THE PROPERTY FOR THE SIX-YEAR PERIOD ENDING SEPTEMBER 7, 2022. AT THE END OF THE SIX-YEAR PERIOD, ANY REMAINING FUNDS ARE TO BE EQUALLY DIVIDED BETWEEN THE UNIVERSITY AND THE FOUNDATION. DURING MAY 2025, THE UNIVERSITY RELEASED THE FOUNDATION FROM THEIR CONTRACTUAL OBLIGATION. AS A RESULT OF RELEASE FROM OBLIGATION, THE FOUNDATION RECOGNIZED $443,358 AS GAIN ON EXTINGUISHMENT OF LIABILITY IN THE STATEMENT OF ACTIVITIES. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF CHARITABLE REMAINDER TRUST -35,274. CHANGE IN VALUE OF ANNUITY -35,593. CHANGE IN VALUE OF BENEFICIAL INTEREST IN REAL ESTATE -13,678. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.