2026-05-12T12:04:16-05:00 2025-06-30 331498605 PLANTE & MORAN PLLC 8181 E TUFTS AVE SUITE 600 DENVER CO 80237 990 2024-07-01 341316665 CLEVELAND STATE UNIVERSITY FOUNDATION CLEV 2166875522 2121 EUCLID AVENUE UN 501 CLEVELAND OH 44115 JOHN PETRUS ASSISTANT TREASURER 2166875522 2026-05-06 1 0 DORI J EGGETT P00645252 3037409400 2026-05-06 2024 2025-03-06 01:10:19Z CHAD WARREN 2121 EUCLID AVENUE UN 501 CLEVELAND OH 44115 40547897 0 X WWW.SUPPORTCSU.ORG X 1969 OH THE CSUF IS ORGANIZED PRIMARILY TO ENGAGE IN ACTIVITIES TO PROVIDE SUPPORT AND SERVICES TO CSU. 29 29 0 37 182389 65214 31586364 15437221 47851 73259 4497362 8318366 90743 39181 36222320 23868027 17106713 14170568 0 0 0 0 0 0 193087 2200008 1973203 19306721 16143771 16915599 7724256 164721428 181182093 12688325 12640339 152033103 168541754 X THE FOUNDATION EXISTS PRIMARILY TO RAISE, RECEIVE, AND MANAGE PRIVATE GIFTS FOR THE ADVANCEMENT AND BENEFIT OF CLEVELAND STATE UNIVERSITY AND ITS STUDENTS AND FACULTY. OUR MISSION IS TO IMPROVE ACCESS TO HIGHER EDUCATION AND THE QUALITY OF THAT EDUCATION BY PROVIDING FINANCIAL AID AND GRANTS. 0 0 15023386 14170568 73259 IN FISCAL YEAR 2025 THE FOUNDATION RECEIVED $14.9 MILLION IN NEW GIFTS AND PLEDGES, INCLUDING $7 MILLION FOR SCHOLARSHIPS. GIFTS RECEIVED BY THE FOUNDATION FALL INTO TWO BASIC CATEGORIES; RESTRICTED AND UNRESTRICTED. UNRESTRICTED GIFTS MAY BE USED FOR UNIVERSITY PRIORITIES, PROGRAMS AND SERVICES NOT SUPPORTED BY STATE FUNDS, ENDOWMENT INCOME, OR OTHER SOURCES. MOST GIFTS RECEIVED ARE RESTRICTED FOR SPECIFIC PURPOSES AS DIRECTED BY THE DONORS, THE FOUNDATION, AND THE UNIVERSITY. FOR EXAMPLE, RESTRICTED GIFTS CAN BE DIRECTED TO A SPECIFIED ACADEMIC DEPARTMENT, SCHOLARSHIP, ETC. WHETHER RESTRICTED OR UNRESTRICTED, ANNUAL GIFTS ARE USUALLY SPENT WITHIN THE YEAR THEY ARE RECEIVED. ENDOWMENT FUNDS ARE POOLED WITH OTHER GIFTS AND INVESTED. UNDER THE DIRECTION OF THE FOUNDATION'S INVESTMENT COMMITTEE, ENDOWMENTS ARE INVESTED BY PROFESSIONAL FUND MANAGERS FOR MAXIMUM YIELD WITH MINIMUM RISK. ENDOWMENT FUNDS SUPPORT GENERAL UNIVERSITY OPERATIONS, ALL NINE ACADEMIC COLLEGES, THE SCHOOL OF NURSING, ATHLETICS, AND THE LIBRARY.AT CSU, 30% OF STUDENTS ARE FROM UNDERREPRESENTED MINORITY POPULATIONS AND MORE THAN 40% OF UNDERGRADUATES ARE THE FIRST IN THEIR FAMILIES TO ATTEND COLLEGE. MORE THAN HALF OF UNDERGRADUATES RECEIVING FEDERAL AID QUALIFY FOR THE MAXIMUM AMOUNT AND 88% OF FIRST-TIME, FULL-TIME FRESHMEN RELY ON FINANCIAL ASSISTANCE.THE CLEVELAND STATE UNIVERSITY FOUNDATION (CSUF) IS A NON-PROFIT ORGANIZATION INCORPORATED UNDER THE LAWS OF THE STATE OF OHIO AND TAX-EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. AN OUTRIGHT GIFT TO THE CSUF IS A FULLY TAX-DEDUCTIBLE CHARITABLEDONATION. THE CSUF DOES NOT RECEIVE PUBLIC FUNDS, SUCH AS STATE AND FEDERAL GRANTS.STATE OF OHIO APPROPRIATIONS HELP FUND THE UNIVERSITY'S BASIC OPERATIONS. OTHER SOURCES OF REVENUE, SUCH AS STUDENT FEES AND AUXILIARY SERVICES, HELP MEET BASIC OPERATING COSTS NOT COVERED BY STATE FUNDING. PRIVATE SUPPORT, GENERATED THROUGH GIFTS TO THE CSUF, PROVIDES THE UNIVERSITY A MARGIN OF EXCELLENCE BY CREATING STUDENTS AND FACULTY RESOURCE OPPORTUNITIES FROM PRIVATE FUNDRAISING THAT WOULD OTHERWISE NOT BE AVAILABLE. THE FOUNDATION FURTHER SERVES THE UNIVERSITY BY MAINTAINING PRIVATE FUND ACCOUNTS (ENDOWMENT AND CURRENT USE) FROM ONE FISCAL YEAR TO THE NEXT.THE CSUF IS GOVERNED BY AN INDEPENDENT VOLUNTEER BOARD OF DIRECTORS, CONSISTING OF NO MORE THAN 50 DIRECTORS, AND EX-OFFICIO DIRECTORS, INCLUDING THE PRESIDENT OF THE UNIVERSITY. THE FOUNDATION'S FINANCIAL RECORDS ARE AUDITED ANNUALLY BY INDEPENDENT AUDITORS. THE CLEVELAND SCHOOLS BOOK FUND IS AN ENDOWMENT WITHIN THE COLLEGE OF EDUCATION AND MANAGED BY THE CLEVELAND STATE UNIVERSITY FOUNDATION AS PART OF THE OVERALL INVESTMENT PORTFOLIO. OVERSIGHT IS PROVIDED BY A BOARD COMPRISED OF BOTH CSU AND NON-CSU MEMBERS.THE CLEVELAND SCHOOLS BOOK FUND HELPS STUDENTS DEVELOP READING SKILLS FOR ACADEMIC LIFE SUCCESS AND OVER THE PAST 10 YEARS HAS GROWN TO MORE THAN $6 MILLION. THE FUND HAS HELPED CHILDREN IN THE CLEVELAND METROPOLITAN SCHOOLS BECOME BETTER READERS AND CITIZENS BY PROVIDING EACH PRE-K TO FOURTH GRADE CLASSROOM WITH A LIBRARY OF HIGH-QUALITY STORYBOOKS THAT ARE SPECIFICALLY CHOSEN TO PRESENT MODELS OF GOOD BEHAVIOR AND CITIZENSHIP. THE BOOK FUND HAS DELIVERED OVER 200,000 BOOKS TO CLASSROOMS THROUGHOUT THE CITY, INCLUDING CAMPUS INTERNATIONAL SCHOOL, AND NEARLY 20,000 STUDENTS READ THOSE BOOKS EVERY YEAR. IN ADDITION, MORE THAN 1,000 CLASSROOMS HAVE RECEIVED SPECIFICALLY DESIGNED BOOK CASES. 15023386 1 1 0 0 0 0 0 0 1 1 0 1 0 0 1 1 1 1 0 0 1 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 15 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 X 29 29 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 OH X JOHN N PETRUS 2166875522 2121 ECULID AVENUE UN 501 CLEVELAND OH 44115 KAREN WHITE CHAIR 10.00 0.00 X X 0 0 0 MICHAEL KLEIN VICE CHAIR 10.00 0.00 X X 0 0 0 JEFFREY A VAVRUSKA TREASURER 10.00 0.00 X X 0 0 0 JERRY JARZABEK SECRETARY 1.00 0.00 X X 0 0 0 ANTHONY S BAKALE DIRECTOR 1.00 0.00 X 0 0 0 DONNIE BEDNEY DIRECTOR 1.00 0.00 X 0 0 0 NANCY BERARDINELLI-KRANTZ DIRECTOR 1.00 0.00 X 0 0 0 THERESA CARTER DIRECTOR 1.00 0.00 X 0 0 0 LONNIE COLEMAN DIRECTOR 1.00 0.00 X 0 0 0 JAMES T DEIOTTE DIRECTOR 1.00 0.00 X 0 0 0 DANIEL FASHIMPAUR DIRECTOR 1.00 0.00 X 0 0 0 ANN FRANGOS DIRECTOR 1.00 0.00 X 0 0 0 JUDY GHAZOUL HILOW DIRECTOR 1.00 0.00 X 0 0 0 BRIAN GEVRY DIRECTOR 1.00 0.00 X 0 0 0 DAVID GUNNING II DIRECTOR 1.00 0.00 X 0 0 0 JEFF HERZOG DIRECTOR 1.00 0.00 X 0 0 0 JAMES KANDRAC DIRECTOR 1.00 0.00 X 0 0 0 AMY KAPLAN DIRECTOR 1.00 0.00 X 0 0 0 ARIANE KIRKPATRICK DIRECTOR 1.00 0.00 X 0 0 0 JANET L KRAMER DIRECTOR 1.00 0.00 X 0 0 0 MARK LANTZ DIRECTOR 1.00 0.00 X 0 0 0 JOE MASTERS DIRECTOR 1.00 0.00 X 0 0 0 NANCY MENDEZ DIRECTOR 1.00 0.00 X 0 0 0 ALAN NEVEL DIRECTOR 1.00 0.00 X 0 0 0 CAROLYN RAINS DIRECTOR 1.00 0.00 X 0 0 0 THOMAS ROBENALT DIRECTOR 1.00 0.00 X 0 0 0 DARIA ROEBUCK DIRECTOR 1.00 0.00 X 0 0 0 SANDRA WILLIAMS DIRECTOR 1.00 0.00 X 0 0 0 THOMAS O'TOOLE DIRECTOR 1.00 0.00 X 0 0 0 JULIE REHM EXECUTIVE DIRECTOR 10.00 40.00 X 0 283866 39959 0 283866 39959 0 0 1 0 ERNST & YOUNG LLP 200 PLAZA DRIVE SECAUCUS NY 07094 CONSULTING SERVICES 290390 AGB CONSULTING 1666 K STREET NW SUITE 1200 WASHINGTON DC 20006 CONSULTING SERVICES 140000 CLEARSTEAD ADVISORS 1100 SUPERIOR AVE SUITE 700 CLEVELAND OH 44114 INVESTMENT CONSULTANTS 117990 3 15437221 15437221 ENDOWMENT MANAGEMENT FEE 900099 73259 73259 73259 4777080 182389 4594691 20221156 16679870 3541286 3541286 3541286 NON-CHARITABLE SUPPORT GIFTS 900099 39181 39181 39181 23868027 73259 182389 8175158 13674338 13674338 496230 496230 41847 41847 46122 46122 224150 224150 360488 276656 83832 130090 31740 98350 84021 80595 3426 2528 2528 67092 64649 2443 304956 295174 9782 PERSONNEL COSTS 555398 28364 432297 94737 BANK & CREDIT CARD FEES 67773 67773 MEMBERSHIP & SUBSCRIPTI 61609 47786 13823 27129 25326 1803 16143771 15023386 927298 193087 1504689 1860730 3440055 2710317 28430659 16798590 103523886 134518113 27503878 24958514 318261 335829 164721428 181182093 91080 105235 440958 445367 5386897 5835391 6769390 6254346 12688325 12640339 X 2472843 3399944 149560260 165141810 152033103 168541754 164721428 181182093 X 7724256 9414354 -629959 X 0 1 X 1 0 X 12221890 17300080 14098011 31586364 15437221 90643566 12221890 17300080 14098011 31586364 15437221 90643566 24533568 66109998 1453277 1520527 1633383 2070414 4594691 11272292 1748 65214 66962 39994 117910 316380 252365 39181 765830 102748650 244128 0.64340 0.65810 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER REVENUE - 2020 AMOUNT: $ 39,994. 2021 AMOUNT: $ 117,910. 2022 AMOUNT: $ 316,380. 2023 AMOUNT: $ 252,365. 2024 AMOUNT: $ 39,181. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 110733064 14651735 15883723 4334627 1500966 135432929 99915550 4123092 13324327 5609551 1020354 110733064 91107900 4594800 10536822 5377482 946490 99915550 107587136 2090275 -13515154 4117091 937266 91107900 84616715 2047569 25173955 3409129 841974 107587136 0.00786 0.58542 0.40672 0 0 0 ALTERNATIVE INVESTMENTS 24958514 F 24958514 DUE TO AFFILIATES 6188554 ANNUITIES PAYABLE 65792 6254346 X 32427840 9414354 -181896 9232458 23195382 150891 521753 672644 23868026 15919187 -73693 -73693 15992880 150891 150891 16143771 PART IV, LINE 2B: INCLUDED IN THE FOUNDATION'S INVESTMENTS ARE ASSETS HELD FOR CLEVELAND STATE UNIVERSITY AND THE CLEVELAND STATE UNIVERSITY ALUMNI ASSOCIATION. THE ASSETS HELD FOR THESE ENTITIES ARE MAINTAINED AS SEPARATE FUNDS ON THE FINANCIAL SYSTEM OF THE FOUNDATION AND RECEIVE A PROPORTIONAL SHARE OF THE INVESTMENT'S ACTIVITY. THE FOUNDATION OWNS THE ASSETS IN THE INVESTMENTS; THE OTHER ENTITIES HAVE A FINANCIAL INTEREST IN THE INVESTMENTS BUT DO NOT OWN THE UNDERLYING ASSETS. THE FOUNDATION HAS RECORDED A LIABILITY EQUAL TO THE FAIR VALUE FOR THE ASSETS HELD FOR OTHER ENTITIES. PART V, LINE 4: THE ENDOWMENT ASSETS ARE USED TO FUND SCHOLARSHIPS FOR STUDENTS AT CLEVELAND STATE UNIVERSITY AND FOR OTHER GENERAL PURPOSES OF THE UNIVERSITY. PART X, LINE 2: THE FOUNDATION IS A NOT-FOR-PROFIT CORPORATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (CODE) AND IS EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME PURSUANT TO SECTION 501(A) OF THE CODE. UNCERTAIN INCOME TAX POSITIONS ARE EVALUATED AT LEAST ANNUALLY BY MANAGEMENT. THE FOUNDATION CLASSIFIES INTEREST AND PENALTIES RELATED TO INCOME TAX MATTERS AS INCOME TAX EXPENSE IN THE ACCOMPANYING FINANCIAL STATEMENTS. AS OF JUNE 30, 2025, THE FOUNDATION HAS IDENTIFIED NO UNCERTAIN INCOME TAX POSITIONS AND HAS INCURRED NO AMOUNTS FOR INCOME TAX PENALTIES AND INTEREST FOR THE YEAR THEN ENDED. THE FOUNDATION FILES ITS FEDERAL FORM 990 IN THE U.S. FEDERAL JURISDICTION AND AN ONLINE CHARITABLE REGISTRATION IN THE OFFICE OF THE STATE'S ATTORNEY GENERAL FOR THE STATE OF OHIO. PART XI, LINE 2D - OTHER ADJUSTMENTS: PROVISION FOR UNCOLLECTIBLE CONTRIBUTIONS -181,896. PART XI, LINE 4B - OTHER ADJUSTMENTS: CHANGE IN FUNDS HELD ON BEHALF OF OTHERS 521,753. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN CHARITABLE GIFT ANNUITIES -431. CHANGE IN FUNDS HELD ON BEHALF OF OTHERS -73,262. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 17247778 0 0 0 0 0 0 17247778 0 17247778 1 0 0 0 0 0 1 CLEVELAND STATE UNIVERSITY 2121 EUCLID AVE CLEVELAND OH 44115 340966056 115 13674338 0 N/A N/A GENERAL OPERATING SUPPORT 1 0 EMERGENCIES 363 349484 SCHOLARSHIPS 75 139496 AWARDS AND PRIZES 11 7250 PART I, LINE 2: BECAUSE OF THE CLOSE CONNECTION BETWEEN THE FOUNDATION AND CLEVELAND STATE UNIVERSITY, THE FOUNDATION IS ASSURED THAT ITS GRANT FUNDS ARE SPENT TO FURTHER EDUCATIONAL MISSIONS OF THE UNIVERSITY. THE FOUNDATION HAS PROCEDURES THAT HELP ENSURE THE GRANT FUNDS ARE SPENT APPROPRIATELY. 0 0 0 0 0 0 0 0 0 JULIE REHM EXECUTIVE DIRECTOR 0 283866 0 0 0 0 0 39501 0 458 0 323825 0 0 PART I, LINE 3: CLEVELAND STATE UNIVERSITY (THE UNIVERSITY), A RELATED ORGANIZATION, UNIVERSITY FOUNDATION. THE UNIVERSITY HAS A COMPENSATION MANAGER THAT DOES INFORMATION UTILIZED. IN ADDITION, FOR SENIOR LEADERSHIP POSITIONS THE DETERMINES THE COMPENSATION OF THE EXECUTIVE DIRECTOR FOR CLEVELAND STATE MARKET RESEARCH AND REVIEWS FOR COMPENSATION. THERE ARE MANY SOURCES OF UNIVERSITY HIRES A SEARCH FIRM TO ASSIST IN THE HIRING / SEARCH PROCESS. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY THE ASSISTANT TREASURER OF THE CLEVELAND STATE UNIVERSITY FOUNDATION AND THE AUDIT AND FINANCE COMMITTEES OF THE BOARD OF DIRECTORS WITH THE ASSISTANCE OF THE OUTSIDE PUBLIC ACCOUNTING FIRM. THE 990 IS EMAILED TO THE ENTIRE BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE FOUNDATION'S BOARD MEMBERS AND OFFICERS ARE REQUIRED TO COMPLETE CONFLICT STATEMENTS ANNUALLY AND UPDATE THEM DURING THE YEAR AS THE NEED ARISES. THE BOARD'S AUDIT COMMITTEE REVIEWS THESE STATEMENTS FOR POTENTIAL CONFLICTS. WHEN A CONFLICT ARISES, THE PERSON IS NOT PERMITTED TO PARTICIPATE IN THE DISCUSSION OF THE TRANSACTION OR TO VOTE ON THE MATTER. PERSONS WHO ARE INDEPENDENT OF THE INDIVIDUAL WITH THE CONFLICT MAKE THE DECISION ABOUT THE TRANSACTION. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION MAKES ITS FINANCIAL STATEMENTS, CONFLICTS OF INTEREST POLICY AND GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. THE FINANCIAL STATEMENT ARE ALSO FILED WITH THE AUDITOR OF THE STATE OF OHIO, WHO MAKES THEM AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: CHANGE IN FUNDS HELD ON BEHALF OF OTHERS -448,494. CHANGE IN CHARITABLE GIFT ANNUITIES 431. PROVISION FOR UNCOLLECTIBLE CONTRIBUTIONS -181,896. CLEVELAND STATE UNIVERSITY 2121 EUCLID AVENUE CLEVELAND OH 44115 340966056 EDUCATION OH 115 N/A 0 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 PART II IDENTIFICATION OF RELATED TAX-EXEMPT ORGANIZATIONS DUE TO THE CLOSE RELATIONSHIP THAT CLEVELAND STATE UNIVERSITY FOUNDATION (CSUF) HAS WITH CLEVELAND STATE UNIVERSITY (CSU), MANAGEMENT HAS DECIDED TO DISCLOSE CSU ON THE ORGANIZATION'S SCHEDULE R. CSU DOES NOT CONTROL CSUF NOR DOES CSU HAVE THE RIGHT TO APPOINT MORE THAN 50% OF THE BOARD MEMBERS OF CSUF.