Msu Foundation Inc
- Assets
- $71.0m
- Revenue
- $5.6m
- Investments
- $55.7m
- Employees
- 3
- Location
- Morehead, KY
- Founding
- 03/1981
- Data as of
- 06/2022
- EIN
- 31-1003236
Organization Overview
Msu Foundation Inc is located in Morehead, KY. The organization was established in 1981. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 06/2022, Msu Foundation Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Msu Foundation Inc 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, Msu Foundation Inc generated $5.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $4.9m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORT OF MOREHEAD STATE UNIVERSITY THROUGH FUNDRAISING AND ADMINISTRATIVE SUPPORT
Describe the Organization's Program Activity:
GENERAL FUND - PROVIDED ASSISTANCE TO THE VARIOUS ACADEMIC PROGRAMS AT MOREHEAD STATE UNIVERSITY.
SCHOLARSHIP FUND - PROVIDED SCHOLARSHIPS FOR ELIGIBLE STUDENTS AT MOREHEAD STATE UNIVERSITY.
EAGLE ATHLETIC FUND - PROVIDED ASSISTANCE TO THE VARIOUS SPORTS PROGRAMS AT MOREHEAD STATE UNIVERSITY.
ENDOWMENT FUND - PROVIDED SUPPORT TO MOREHEAD STATE UNIVERSITY FOR PROFESSORSHIPS, CHAIRS, AND RESEARCH PROJECTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Rick Hesterberg CEO | OfficerTrustee | 1 | $0 |
Mr Jack Matthew Chair | Trustee | 1 | $0 |
Mr Perry Allen Vice Chair | Trustee | 1 | $0 |
Mr Bob Albert Treasurer | Trustee | 1 | $0 |
Mr Nathan Bishop Trustee | Trustee | 1 | $0 |
Mr Ronald Cartee Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $68,168 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,593,822 |
| Noncash contributions included in lines 1a–1f | $499,145 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,661,990 |
| Total Program Service Revenue | $0 |
| Investment income | $176,357 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $17,188 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $466,412 |
| Net Income from Fundraising Events | $13,981 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,625,447 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,497,122 |
| Grants and other assistance to domestic individuals. | $1,113,106 |
| 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 | $29,226 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,235 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,963 |
| Fees for services: Accounting | $19,650 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $243,842 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $897 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $13,068 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,086 |
| Insurance | $17,165 |
| All other expenses | $45,472 |
| Total functional expenses | $4,860,752 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $482,672 |
| Savings and temporary cash investments | $540,663 |
| Pledges and grants receivable | $4,160,077 |
| Accounts receivable, net | $0 |
| 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 | $46,925 |
| Investments—publicly traded securities | $10,047,809 |
| Investments—other securities | $55,748,389 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $71,026,535 |
| Accounts payable and accrued expenses | $14,525 |
| 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 | $11,406,188 |
| Total liabilities | $11,420,713 |
| Net assets without donor restrictions | -$1,333,715 |
| Net assets with donor restrictions | $60,939,537 |
| 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 | $71,026,535 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Msu Foundation Inc has recieved totaling $3,000.
| Awarding Organization | Amount |
|---|---|
Mgn Foundation Tr Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $3,000 |
Endowment Analysis
| Beg. Balance | $58,002,224 |
| Earnings | $76,191 |
| Other Expense | $1,937,113 |
| Ending Balance | $56,141,302 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Anthony Pritzker Fam Foundation Chicago, IL | $0 | $37,184,888 |
Paula And Rodger Riney Foundation St Louis, MO | $118,536,395 | $1,770,419 |
Pritzker Traubert Foundation Chicago, IL | $0 | $14,671,849 |
Carol Ann And Ralph V Haile Jr Foundation Cincinnati, OH | $318,390,176 | $10,905,260 |
Mathile Family Foundation Dayton, OH | $0 | $5,909,915 |
Haslam Family Foundation Inc Knoxville, TN | $7,594,271 | $428,205 |
John W Anderson Foundation Valparaiso, IN | $342,409,938 | $34,395,256 |
Motorola Solutions Foundation Chicago, IL | $427,877 | $12,200,078 |
The Walsh Foundation Chicago, IL | $179,756,510 | $18,008,076 |
Robert E And Jenny D Kirkland Foundation Union City, TN | $287,925,102 | $17,113,043 |
Herbert Simon Family Foundation Indianapolis, IN | $26,075,189 | $9,696,254 |
Huntington Foundation Columbus, OH | $456,967 | $10,970,786 |