Wichita State University Foundation
- Assets
- $396.0m
- Revenue
- $38.0m
- Investments
- $242.6m
- Employees
- 85
- Location
- Wichita, KS
- Founding
- 09/1965
- Data as of
- 06/2024
- EIN
- 48-6121167
Organization Overview
Wichita State University Foundation is located in Wichita, KS. The organization was established in 1965. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2024, Wichita State University Foundation employed 85 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wichita State 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 06/2024, Wichita State University Foundation generated $38.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $30.1m during the year ending 06/2024. While expenses have increased by 6.1% 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
FUNDRAISING FOR WSU AND MANAGING THE CONTRIBUTIONS, INVESTMENTS AND DISTRIBUTING SUPPORT TO WSU.
Describe the Organization's Program Activity:
THE FOUNDATION AWARDS SCHOLARSHIPS TO STUDENTS FOR USE IN ATTENDING WICHITA STATE UNIVERSITY IN ACCORDANCE WITH PROVISIONS ESTABLISHED BY THE DONOR.
THE FOUNDATION PROVIDES FOR FACULTY SALARY SUPPORT, DEPARTMENTAL OPERATING EXPENSES, AND BUILDING CONSTRUCTION AND MAINTENANCE IN ACCORDANCE WITH DONOR RESTRICTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elizabeth H King President/ce | OfficerTrustee | 60 | $452,300 |
Susan Barrett VP Of Fin/op | Officer | 55 | $187,472 |
Darin Kater VP Of Develo | Officer | 45 | $175,491 |
J Michael Lamb VP For Plann | Officer | 45 | $162,294 |
Angela Dudley Associate VP | 40 | $111,211 | |
Lynette Murphy Sr Developnm | 40 | $101,198 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
M Kathryn Webb Legal Services | 6/29/24 | $448,896 |
Clark Huesemann Lc Architectrual | 6/29/24 | $217,601 |
Bryant Group Research | 6/29/24 | $152,310 |
Bwf Strategic Plan | 6/29/24 | $116,989 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,319,609 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $17,996,270 |
| Noncash contributions included in lines 1a–1f | $1,636,914 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $19,315,879 |
| Total Program Service Revenue | $0 |
| Investment income | $3,655,473 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $12,659,852 |
| Net Income from Fundraising Events | -$19,671 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $38,045,602 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $7,947,202 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $536,634 |
| Compensation of current officers, directors, key employees. | $247,458 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,554,343 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,112,641 |
| Payroll taxes | $345,181 |
| 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 | $299,884 |
| Fees for services: Other | $0 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $23,534 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $30,111,807 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $12,146,773 |
| Pledges and grants receivable | $14,193,899 |
| 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 | $2,846,492 |
| Investments—publicly traded securities | $98,025,302 |
| Investments—other securities | $242,589,566 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $26,209,862 |
| Total assets | $396,011,894 |
| Accounts payable and accrued expenses | $17,339,296 |
| 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 | $0 |
| Total liabilities | $17,339,296 |
| Net assets without donor restrictions | $18,825,033 |
| Net assets with donor restrictions | $359,847,565 |
| 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 | $396,011,894 |