Minnesota State University Mankato Foundation Incorporated
- Assets
- $77.0m
- Revenue
- $9.3m
- Investments
- $186.6k
- Employees
- 0
- Location
- Mankato, MN
- Founding
- 10/1959
- Data as of
- 06/2022
- EIN
- 41-6033423
Organization Overview
Minnesota State University Mankato Foundation Incorporated is located in Mankato, MN. The organization was established in 1959. 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. Minnesota State University Mankato Foundation Incorporated 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, Minnesota State University Mankato Foundation Incorporated generated $9.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $7.5m during the year ending 06/2022. While expenses have increased by 0.7% per year over the past 8 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.
Since 2016, Minnesota State University Mankato Foundation Incorporated has awarded 12 individual grants totaling $16,018,111. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT MINNESOTA STATE UNIVERSITY, MANKATO.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES STUDENT AID OPPORTUNITIES FOR STUDENTS TO RECEIVE ACADEMIC SCHOLARSHIPS, ATHLETIC TALENT GRANTS, AND OTHER AWARDS AND SCHOLARSHIPS.
THE ORGANIZATION PROVIDES SUPPORT TO VARIOUS ACADEMIC AND ATHLETIC PROGRAMS, CLUBS, AND CONFERENCES OF THE UNIVERSITY. SUPPORT FOR UNIVERSITY ATHLETIC PROGRAMS - $569,423. SUPPORT FOR UNIVERSITY MUSIC PROGRAMS - $9,995. SUPPORT FOR THEATRE & DANCE PROGRAMS - $11,002. SUPPORT FOR UNIVERSITY AUXILIARY PROGRAMS - $174,615. SUPPORT FOR EQUIPMENT AND FACILITIES FOR VARIOUS ATHLETICS AND ACADEMIC PROGRAMS - $60,320.
THE ORGANIZATION PROVIDES SUPPORT FOR THE DEVELOPMENT OF STUDENTS AND STAFF THROUGH CONFERENCES, CONVENTIONS, WORKSHOPS, MEETINGS, SPEAKERS, AND OTHER PROFESSIONAL DEVELOPMENT ACTIVITIES. THE ORGANIZATION PROVIDES SUPPORT FOR STAFF AND STUDENT SALARIES, SUPPLIES, EQUIPMENT RENTAL, PRINTING, POSTAGE, AND OTHER EXPENSES USED TO ASSIST DAILY EDUCATIONAL OPERATIONS AND ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Harold K Stanley Executive Director, Msumf | Officer | 40 | $202,038 |
Allan Bohlke Board Chair | OfficerTrustee | 2 | $0 |
Jim Lund Board Vice-Chair | OfficerTrustee | 0.6 | $0 |
Todd Loosbrock Treasurer | OfficerTrustee | 0.6 | $0 |
Jennifer Spaude Secretary | OfficerTrustee | 0.3 | $0 |
Jay Adams Director | Trustee | 0.3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,895,358 |
| Investment income | $788,785 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $6,882 |
| Net Rental Income | -$38,697 |
| Net Gain/Loss on Asset Sales | $587,242 |
| Net Income from Fundraising Events | $4,640 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,285,148 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $21,489 |
| 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 | $674,082 |
| Pension plan accruals and contributions | $30,936 |
| Other employee benefits | $27,039 |
| Payroll taxes | $78,893 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,220 |
| Fees for services: Accounting | $29,068 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $210,391 |
| Fees for services: Other | $273,215 |
| Advertising and promotion | $4,202 |
| Office expenses | $2,472,451 |
| Information technology | $263,255 |
| Royalties | $0 |
| Occupancy | $1,794 |
| Travel | $94,383 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $137,949 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $8,749 |
| All other expenses | $0 |
| Total functional expenses | $7,531,061 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $204,719 |
| Savings and temporary cash investments | $530,403 |
| Pledges and grants receivable | $3,120,384 |
| 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 | $29,750 |
| Investments—publicly traded securities | $70,395,113 |
| Investments—other securities | $186,619 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,044,670 |
| Total assets | $77,015,205 |
| Accounts payable and accrued expenses | $139,757 |
| 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 | $558,413 |
| Other liabilities | $333,929 |
| Total liabilities | $1,032,099 |
| Net assets without donor restrictions | $3,250,786 |
| Net assets with donor restrictions | $72,732,320 |
| 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 | $75,983,106 |
Grants Awarded
Over the last fiscal year, Minnesota State University Mankato Foundation Incorporated has awarded $3,263,710 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
MINNESOTA STATE UNIVERSITY PURPOSE: ASSISTING THE UNIVERSITY WITH PROGRAM RELATED COSTS AND PROMOTING THE UNIVERSITY, INCLUDING ATHLETIC TALENT GRANTS. | $1,037,030 |
MINNESOTA STATE UNIVERSITY PURPOSE: TO ASSIST THE UNIVERSITY IN AWARDING STUDENT SCHOLARSHIPS | $2,226,680 |