K-State Union Corporation
- Assets
- $7.2m
- Revenue
- $4.6m
- Investments
- $0.0
- Employees
- 150
- Location
- Manhattan, KS
- Founding
- 10/1971
- Data as of
- 06/2022
- EIN
- 48-0776300
Organization Overview
K-State Union Corporation is located in Manhattan, KS. The organization was established in 1971. According to its NTEE Classification (B02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Education and related organizations. As of 06/2022, K-State Union Corporation employed 150 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. K-State Union Corporation 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, K-State Union Corporation generated $4.6m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.6%) each year. All expenses for the organization totaled $3.7m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (3.1%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE PRODUCTS AND SERVICES TO THE K-STATE COMMUNITY TO MEET ITS EDUCATIONAL MISSION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE UNION'S FRANCHISE OPERATIONS PROVIDE ONE EATING ESTABLISHMENT FOR OUR CAMPUS COMMUNITY WHILE EMPLOYING BETWEEN 70-80 STUDENTS. THE RESTAURANT OFFERS A WIDE VARIETY OF FOODS ALONG WITH VALUE MEALS THAT ARE AFFORDABLE FOR STUDENTS WITH FOOD INSECURITY.
BESIDES RESTAURANTS, VARIOUS BUSINESSES ARE LOCATED INSIDE THE UNION FOR THE CONVENIENCE AND RECREATIONAL USE OF THE K-STATE CAMPUS COMMUNITY. A BOWLING CENTER, ENGRAVING SERVICES, ROOM SPACE/RENTAL, PASSPORTS FOR INTERNATIONAL TRAVEL AND AN ID CENTER ARE ALL OPERATED UNDER THE MANAGEMENT OF THE UNION CORPORATION.
UNION PROGRAM COUNCIL, UPC, PROVIDES FREE ACTIVITIES AND EVENTS FOR STUDENTS ACROSS CAMPUS. THERE ARE 102 EVENTS HELD WITH APPROXIMATELY 17,080 IN ATTENDANCE DURING THE YEAR. THE UNION PROGRAM COUNCIL OFFERS STUDENTS WHO VOLUNTEER ON ONE OF THE NUMEROUS COMMITTEES THE OPPORTUNITY TO CREATE AND DEVELOP LEADERSHIP SKILLS.
FOOD LEASE OPERATIONS ARE CONTRACTED RETAIL BUSINESSES OPERATING INSIDE THE K-STATE UNION. BUSINESSES INCLUDE SEVERAL RESTAURANTS, A BANK, A BOOKSTORE, A CONVENIENCE STORE AND A COPY CENTER. THESE VARIOUS RETAILERS OFFER SERVICES TO STUDENTS WITHOUT THEM HAVING TO LEAVE CAMPUS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ashley Elliot President | OfficerTrustee | 5 | $0 |
Payton Lynn Co-Vice President | OfficerTrustee | 5 | $0 |
Matt Sword Co-Vice President | OfficerTrustee | 5 | $0 |
Ethan Erickson Treasurer | OfficerTrustee | 1 | $0 |
Anthony Warnick Board Member | Trustee | 1 | $0 |
Thomas Lane Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $21,552 |
| Investment income | $10,773 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,100,743 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $309,140 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,559,696 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $13,017 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $295,614 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,355,319 |
| Pension plan accruals and contributions | $74,140 |
| Other employee benefits | $363,027 |
| Payroll taxes | $102,691 |
| Fees for services: Management | $0 |
| 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 | $0 |
| Fees for services: Other | $164,370 |
| Advertising and promotion | $32,972 |
| Office expenses | $197,780 |
| Information technology | $56,422 |
| Royalties | $56,762 |
| Occupancy | $607,342 |
| Travel | $7,855 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,344 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $333,855 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $3,663,510 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $36,274 |
| Savings and temporary cash investments | $3,451,232 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $298,526 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $159,274 |
| Prepaid expenses and deferred charges | $33,722 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $41,413 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,214,331 |
| Accounts payable and accrued expenses | $390,940 |
| Grants payable | $0 |
| Deferred revenue | $46,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $391,363 |
| 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 | $928,303 |
| Net assets without donor restrictions | $5,906,023 |
| Net assets with donor restrictions | $380,005 |
| 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 | $6,286,028 |