Western Kentucky University Foundation
- Assets
- $121.5m
- Revenue
- $9.0m
- Investments
- $15.8m
- Employees
- 0
- Location
- Bowling Green, KY
- Founding
- 06/1994
- Data as of
- 12/2022
- EIN
- 61-1251555
Organization Overview
Western Kentucky University Foundation, operating under the name Wku Foundation, is located in Bowling Green, KY. The organization was established in 1994. 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. Wku 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 12/2022, Wku Foundation generated $9.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (8.2%) each year. All expenses for the organization totaled $8.5m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Wku Foundation has awarded 55 individual grants totaling $43,283,699. 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
PROGRAM SERVICES BENEFITTING WKU FACULTY, STAFF, AND STUDENTS - APPROXIMATELY 19,075 SERVED IN 2022.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM SERVICES BENEFITTING THE FACULTY AND STUDENTS OF WESTERN KENTUCKY UNIVERSITY - APPROXIMATELY 19,075 PEOPLE WERE SERVED DURING 2022.
FUNDING FOR PUBLIC SERVICE AREAS OF WESTERN KENTUCKY UNIVERSITY (PUBLIC BROADCASTING, KENTUCKY MUSEUM, CLINICAL EDUCATION COMPLEX) TO BENEFIT RESIDENTS OF SOUTH CENTRAL KENTUCKY, NORTHERN TENNESSEE, AND SOUTHERN INDIANA - APPROXIMATELY 1,000,000 PEOPLE WERE SERVED DURING 2022.
FUNDING FOR THE CONSTRUCTION AND EQUIPMENT COSTS ASSOCIATED WITH THE CONSTRUCTION OF SEVERAL BUILDINGS ON WKUS MAIN CAMPUS - APPROXIMATELY 19,075 PEOPLE WERE SERVED DURING 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Bob Young Vice-Chair | Trustee | 2 | $0 |
Mr Garry Watkins Chair | Trustee | 2 | $0 |
Mr Jim Martens Director | Trustee | 2 | $0 |
Mr Kim Menke Past Chair | Trustee | 2 | $0 |
Mr Paul Calico Director | Trustee | 2 | $0 |
Ms Deanna Mills Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Epsilon Theta Chapter House Coroporation Provides Financing For Housing | 12/30/22 | $233,000 |
Hollman Inc Provider Of Smart Locker Solutions | 12/30/22 | $237,913 |
Barons Housing Group Inc Provides Housing For Fraternity | 12/30/22 | $166,486 |
John Thomas Design Llc Architecture/graphic Design | 12/30/22 | $162,851 |
Stifel Nicolaus & Company Inc Investment Management Services | 12/30/22 | $147,309 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,301,566 |
| Noncash contributions included in lines 1a–1f | $415,777 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,301,566 |
| Total Program Service Revenue | $0 |
| Investment income | $1,896,040 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $37 |
| Net Rental Income | $7,452 |
| Net Gain/Loss on Asset Sales | $752,486 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,960,231 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,092,611 |
| 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 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 | $0 |
| Fees for services: Legal | $23,671 |
| Fees for services: Accounting | $32,020 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $511,025 |
| Fees for services: Other | $243,603 |
| Advertising and promotion | $47,690 |
| Office expenses | $328,510 |
| Information technology | $39,279 |
| Royalties | $0 |
| Occupancy | $18,572 |
| Travel | $981,374 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $151,530 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $24,597 |
| Insurance | $20,317 |
| All other expenses | $0 |
| Total functional expenses | $8,533,662 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $7,309,462 |
| Pledges and grants receivable | $2,741,160 |
| 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 | $65,386 |
| Net Land, buildings, and equipment | $1,487,011 |
| Investments—publicly traded securities | $73,179,339 |
| Investments—other securities | $15,843,592 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $20,919,555 |
| Total assets | $121,545,505 |
| Accounts payable and accrued expenses | $306,693 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $20,919,555 |
| 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 | $760,941 |
| Total liabilities | $21,987,189 |
| Net assets without donor restrictions | $6,494,029 |
| Net assets with donor restrictions | $93,064,287 |
| 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 | $121,545,505 |
Grants Awarded
Over the last fiscal year, Western Kentucky University Foundation has awarded $3,085,511 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
COLLEGE HEIGHTS FOUNDATION PURPOSE: TO PROVIDE SUPPORT OF SCHOLARSHIPS | $110,843 |
HILLTOPPER ATHLETIC FOUNDATION INC PURPOSE: TO PROVIDE SUPPORT OF CAMPUS ATHLETIC FACILITIES AND FOR SCHOLARSHIPS | $208,648 |
WESTERN KENTUCKY UNIVERSITY PURPOSE: TO PROVIDE CULTURAL, ACADEMIC, CONSTRUCTION AND OTHER GENERAL SUPPORT | $2,452,614 |
WKU ALUMNI ASSOCIATION PURPOSE: TO SUPPORT ALUMNI ACTIVITIES | $263,406 |
WKU ALUMNI SQUARE DEVELOPMENT LLC PURPOSE: TO OWN, DEVELOP, AND OPERATE THE ALUMNI GARAGE WRAP, COURTYARD, AND PARKING LOT ACROSS FROM THE ALUMNI GARAGE. | $50,000 |