Middle Tennessee State University Foundation
- Assets
- $142.1m
- Revenue
- $39.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Murfreesboro, TN
- Founding
- 05/1963
- Data as of
- 06/2023
- EIN
- 62-0695507
Organization Overview
Middle Tennessee State University Foundation is located in Murfreesboro, TN. The organization was established in 1963. 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. Middle Tennessee 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 06/2023, Middle Tennessee State University Foundation generated $39.2m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 34.8% each year . All expenses for the organization totaled $15.3m during the year ending 06/2023. While expenses have increased by 10.1% per year over the past 4 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
FUNDRAISING FOR EDUCATIONAL AND RELATED SUPPORT OF MIDDLE TENNESSEE STATE UNIVERSITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOR THE FISCAL YEAR ENDED JUNE 30 2023 THE FOUNDATION RAISED $32,200,692 IN CONTRIBUTIONS AND DISBURSED $10,266,102 IN PROGRAM EXPENSES INCLUDING 3,090,632 FOR SCHOLARSHIPS AND AWARDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brad Allen Trustee | Trustee | 0 | $0 |
Beth Brown Trustee | Trustee | 0 | $0 |
Mike Gaines Trustee | Trustee | 0 | $0 |
Wayne Groce Trustee | Trustee | 0 | $0 |
Ramsey Hassan Trustee | Trustee | 0 | $0 |
Rebecca Harris Trustee | Trustee | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aramark Dining Services | 6/29/23 | $183,550 |
Gerber Taylor Associates Llc Consulting Services | 6/29/23 | $408,206 |
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 | $32,200,692 |
| Noncash contributions included in lines 1a–1f | $5,786,662 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $32,200,692 |
| Total Program Service Revenue | $0 |
| Investment income | $1,052,906 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $39,164,169 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,090,632 |
| 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 | $3,250 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $299,196 |
| Fees for services: Other | $501,108 |
| Advertising and promotion | $157,673 |
| Office expenses | $486,458 |
| Information technology | $37,312 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $236,499 |
| 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 | $22,787 |
| Insurance | $95,766 |
| All other expenses | $11,440 |
| Total functional expenses | $15,326,451 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $33,181,406 |
| Pledges and grants receivable | $15,287,461 |
| Accounts receivable, net | $59,883 |
| 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 | $30,000 |
| Net Land, buildings, and equipment | $954,130 |
| Investments—publicly traded securities | $92,537,893 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $142,050,773 |
| Accounts payable and accrued expenses | $1,379,551 |
| 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 | $1,379,551 |
| Net assets without donor restrictions | $4,930,014 |
| Net assets with donor restrictions | $135,741,208 |
| 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 | $142,050,773 |