Western Michigan University Foundation
- Assets
- $1.0b
- Revenue
- $603.5m
- Investments
- $143.6m
- Employees
- 0
- Location
- Kalamazoo, MI
- Founding
- 11/1976
- Data as of
- 06/2021
- EIN
- 38-2138856
Organization Overview
Western Michigan University Foundation is located in Kalamazoo, MI. The organization was established in 1976. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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. Western 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 06/2021, Western Michigan University Foundation generated $603.5m in total revenue. All expenses for the organization totaled $35.4m during the year ending 06/2021.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
MAINTAINING AND ENHANCING AN ENDOWMENT FUND FOR WESTERN MICHIGAN UNIVERSITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION EXISTS FOR THE PURPOSE OF SOLICITING, COLLECTING AND INVESTING DONATIONS FOR THE BENEFIT OF WESTERN MICHIGAN UNIVERSITY. THE FOUNDATION PROVIDES SUPPORT FOR THE OBJECTIVES, GOALS, AND MISSION OF THE UNIVERSITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lynn Chen-Zhang Director | Trustee | 1 | $0 |
Stephen K Parker President | OfficerTrustee | 1 | $0 |
Janice J Van Der Kely Treasurer | OfficerTrustee | 1 | $0 |
Colleen Scarff Assistant Tr | Officer | 1 | $0 |
Kristen R Devries Secretary, E | OfficerTrustee | 50 | $0 |
Edward B Montgomery Designated D | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $530,006,037 |
| Investment income | $10,845,802 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $62,225,212 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $603,544,425 |
| Statement of Expenses | |
|---|---|
| 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 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 | $290,460 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,705,128 |
| Fees for services: Other | $325,766 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $24,941 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $34,651 |
| All other expenses | $0 |
| Total functional expenses | $35,365,368 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,106,394 |
| Savings and temporary cash investments | $1,756,822 |
| Pledges and grants receivable | $530,134,031 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $380,163 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $336,717,385 |
| Investments—other securities | $143,563,197 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,043,585 |
| Total assets | $1,032,369,023 |
| Accounts payable and accrued expenses | $1,057 |
| 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 | $100,000 |
| Total liabilities | $101,057 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $1,032,267,966 |