Wayne State University

Organization Overview

Wayne State University is located in Detroit, MI. The organization was established in 1961. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Wayne State University 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 09/2022, Wayne State University generated $143.3m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 22.8% each year . All expenses for the organization totaled $23.1m during the year ending 09/2022. While expenses have increased by 6.0% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

WAYNE STATE UNIVERSITY FOUNDATION WAS ESTABLISHED TO BE A CENTRALIZED MEANS OF ENCOURAGING AND MANAGING FINANCIAL SUPPORT TO WAYNE STATE UNIVERSITY. THIS SUPPORT ALLOWS WAYNE STATE UNIVERSITY TO PROVIDE ITS STUDENTS, FACULTY, AND SCIENTISTS WITH OPPORTUNITIES FOR LEARNING AND DISCOVERY THAT OTHERWISE WOULD NOT HAVE BEEN FINANCIALLY POSSIBLE.

Describe the Organization's Program Activity:

Part 3 - Line 4a

TO PROVIDE FINANCIAL SUPPORT FOR THE OPERATIONS AND OBJECTIVES OF WAYNE STATE UNIVERSITY


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Commonfund
Investment Management Services
$405,000
Ss&c
Investment Management Services
$375,000
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$28,806,459
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$28,806,459
Total Program Service Revenue$0
Investment income $2,233,769
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $112,292,451
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $143,332,679

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