The Northern Michigan University Foundation
- Assets
- $51.6m
- Revenue
- $7.7m
- Investments
- $4.0m
- Employees
- 0
- Location
- Marquette, MI
- Founding
- 09/1969
- Data as of
- 06/2022
- EIN
- 23-7034523
Organization Overview
The Northern Michigan University Foundation is located in Marquette, MI. The organization was established in 1969. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northern Michigan University Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Northern Michigan University Foundation generated $7.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.5% each year . All expenses for the organization totaled $4.3m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Northern Michigan University Foundation has awarded 44 individual grants totaling $24,295,993. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE NMU FOUNDATION WILL ESTABLISH AND FOSTER RELATIONSHIPS TO GENERATE RESOURCES THAT BENEFIT THE STRATEGIC GOALS OF NORTHERN MICHIGAN UNIVERSITY.
Describe the Organization's Program Activity:
ACADEMIC DEPARTMENTS AND PROGRAMS - PROVIDE SUPPORT TO NORTHERN MICHIGAN UNIVERSITY'S ACADEMIC DEPARTMENTS AND PROGRAMS TO INCREASE THE EDUCATIONAL OPPORTUNITIES FOR ITS STUDENTS.
SCHOLARSHIPS AND OTHER FINANCIAL AID - PROVIDING FINANCIAL ASSISTANCE TO STUDENTS, ENABLING THEM TO OBTAIN A COLLEGE EDUCATION.
ATHLETICS - PROVIDE SUPPORT FOR VARIOUS ATHLETIC PROGRAMS AT NORTHERN MICHIGAN UNIVERSITY, BENEFITING NORTHERN MICHIGAN UNIVERSITY ATHLETES, STUDENTS, AND AREA RESIDENTS.
PUBLIC TELEVISION (429,136) - PROVIDE OPERATING FUNDS FOR NORTHERN MICHIGAN UNIVERSITY'S PUBLIC TV STATION, BENEFITING THE RESIDENTS OF THE CENTRAL PORTION OF THE UPPER PENINSULA OF MICHIGAN WHO CHOOSE TO VIEW IT. PUBLIC RADIO (426,702) - PROVIDE OPERATING FUNDS FOR NORTHERN MICHIGAN UNIVERSITY'S PUBLIC RADIO STATION, BENEFITING THE RESIDENTS OF THE CENTRAL PORTION OF THE UPPER PENINSULA OF MICHIGAN WHO CHOOSE TO LISTEN TO IT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John F List President | OfficerTrustee | 1.9 | $0 |
Kevin C Boyle Secretary/treasurer | OfficerTrustee | 1.9 | $0 |
Katherine L Miller Vice President | OfficerTrustee | 1.9 | $0 |
Brad M Canale Chief Executive Officer | OfficerTrustee | 40 | $0 |
Jesse W Bell Trustee | Trustee | 0.6 | $0 |
William W Bowerman Trustee | Trustee | 0.6 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,213,973 |
| Noncash contributions included in lines 1a–1f | $2,114,223 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,213,973 |
| Total Program Service Revenue | $0 |
| Investment income | $1,895,458 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $556,986 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,666,417 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,489,559 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $98,810 |
| Fees for services: Legal | $31,526 |
| Fees for services: Accounting | $99,644 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $109,399 |
| Fees for services: Other | $186,176 |
| Advertising and promotion | $10,779 |
| Office expenses | $68,669 |
| Information technology | $78,273 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $22,756 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $404 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $22,168 |
| Insurance | $4,460 |
| All other expenses | $0 |
| Total functional expenses | $4,251,458 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $206,771 |
| Savings and temporary cash investments | $566,678 |
| Pledges and grants receivable | $1,222,108 |
| Accounts receivable, net | $3,404,200 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,428,679 |
| Investments—publicly traded securities | $40,290,424 |
| Investments—other securities | $3,997,011 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $456,287 |
| Total assets | $51,572,158 |
| Accounts payable and accrued expenses | $47,904 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $721,785 |
| Total liabilities | $769,689 |
| Net assets without donor restrictions | $5,777,213 |
| Net assets with donor restrictions | $45,025,256 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $51,572,158 |
Grants Awarded
Over the last fiscal year, The Northern Michigan University Foundation has awarded $3,489,559 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
NORTHERN MICHIGAN UNIVERSITY PURPOSE: OTHER DEPARTMENTS AND PROGRAMS | $1,052,026 |
NORTHERN MICHIGAN UNIVERSITY PURPOSE: SCHOLARSHIPS | $885,942 |
NORTHERN MICHIGAN UNIVERSITY PURPOSE: ATHLETIC PROGRAMS | $660,255 |
NORTHERN MICHIGAN UNIVERSITY PURPOSE: PUBLIC TELEVISION | $429,136 |
NORTHERN MICHIGAN UNIVERSITY PURPOSE: PUBLIC RADIO | $426,702 |
NORTHERN MICHIGAN UNIVERSITY PURPOSE: OTHER DEPARTMENTS AND PROGRAMS | $28,790 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that The Northern Michigan University Foundation has recieved totaling $23,207.
| Awarding Organization | Amount |
|---|---|
Annexstad Family Foundation Mound, MN PURPOSE: SCHOLARSHIP | $23,157 |
Gannett Foundations Inc Mclean, VA PURPOSE: CHARITABLE PURPOSE | $50 |
Endowment Analysis
| Beg. Balance | $43,092,526 |
| Earnings | -$6,365,326 |
| Net Contributions | $1,395,914 |
| Other Expense | -$630,000 |
| Grants | $1,157,797 |
| Ending Balance | $37,595,317 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Wayne State University Detroit, MI | $420,994,306 | $23,111,509 |
Union Institute & University Cincinnati, OH | $9,527,741 | $17,880,804 |
Maranatha Baptist University Inc Watertown, WI | $23,775,385 | $19,476,702 |
Holy Family College Inc Manitowoc, WI | $6,992,394 | $12,349,410 |
Cleveland State University Foundation Cleveland, OH | $110,232,117 | $11,409,961 |
Baker College Flint, MI | $17,867,262 | $11,641,595 |
Martin University Inc Indianapolis, IN | $11,458,178 | $6,489,319 |
Newark Campus Development Fund Newark, OH | $44,149,352 | $5,377,217 |
University Of Southern Indiana Foundation Inc Evansville, IN | $166,446,934 | $20,278,244 |
University Of Wisconsin Stevens Point Foundation Inc Stevens Point, WI | $75,127,942 | $13,216,092 |
The Northern Michigan University Foundation Marquette, MI | $51,572,158 | $7,666,417 |
Rabbinical College Of Telshe Inc Wickliffe, OH | $4,924,770 | $5,286,495 |