Wku Student Life Foundation Inc
- Assets
- $178.5m
- Revenue
- $30.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Bowling Green, KY
- Founding
- 12/1999
- Data as of
- 06/2022
- EIN
- 61-1350986
Organization Overview
Wku Student Life Foundation Inc is located in Bowling Green, KY. The organization was established in 1999. 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 Student Life Foundation Inc 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, Wku Student Life Foundation Inc generated $30.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $23.6m during the year ending 06/2022. While expenses have increased by 4.9% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE A PREMIER LIVING/LEARNING EXPERIENCE ON THE CAMPUS THAT ENSURES STUDENT SUCCESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE WKU STUDENT LIFE FOUNDATION, INC. WAS CREATED TO FACILITATE THE PURCHASE, RECAPITALIZATION AND RENOVATION OF THE STUDENT RESIDENTIAL FACILITIES AT WESTERN KENTUCKY UNIVERSITY. THE FOUNDATION OWNS AND OPERATES 16 RESIDENCE HALLS AND APPROXIMATELY 5,236 BEDS ON THE MAIN CAMPUS OF THE UNIVERSITY. THE FOUNDATION ALSO CONSTRUCTED AND OWNS TWO FACILITIES ADJACENT TO THE WKU CAMPUS THAT PROVIDE 290 BEDS OFF THE MAIN CAMPUS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Reagle Executive Director Thru 4/2022 | Officer | 15 | $71,959 |
Brian Kuster Interim Executive Director | Officer | 15 | $22,050 |
Brad Howard Chairman Of The Board | OfficerTrustee | 1 | $0 |
Mike Simpson Vice Chairman Of The Board | OfficerTrustee | 1 | $0 |
Kristen Bale Board Member | Trustee | 1 | $0 |
Sandy Boussard Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
S E Engineering Construction Mgmt | 6/29/22 | $890,424 |
Scott Ritter Construction Mgmt | 6/29/22 | $1,391,321 |
Builders By Design Construction Mgmt | 6/29/22 | $5,672,413 |
Renascent Inc Construction Mgmt | 6/29/22 | $447,500 |
Stewart Richey Construction Construction Mgmt | 6/29/22 | $4,091,754 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,095,912 |
| Investment income | $136,522 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $145,465 |
| Net Gain/Loss on Asset Sales | $452 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $30,600,200 |
| Statement of Expenses | |
|---|---|
| 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. | $84,966 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,618,549 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,088,083 |
| Payroll taxes | $141,817 |
| Fees for services: Management | $84,200 |
| Fees for services: Legal | $6,291 |
| Fees for services: Accounting | $39,960 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $243,948 |
| Advertising and promotion | $4,762 |
| Office expenses | $392,641 |
| Information technology | $127,698 |
| Royalties | $0 |
| Occupancy | $2,653,648 |
| Travel | $13,460 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,679 |
| Interest | $3,927,217 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,165,617 |
| Insurance | $765,518 |
| All other expenses | $0 |
| Total functional expenses | $23,569,402 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,209,874 |
| Savings and temporary cash investments | $27,597,546 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,577,050 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,931,784 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $305,143 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $178,491,745 |
| Accounts payable and accrued expenses | $3,313,673 |
| Grants payable | $0 |
| Deferred revenue | $2,554,702 |
| Tax-exempt bond liabilities | $116,465,149 |
| 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 | $893,144 |
| Total liabilities | $123,226,668 |
| Net assets without donor restrictions | $55,265,077 |
| Net assets with donor restrictions | $0 |
| 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 | $55,265,077 |