Idaho State University Foundation Inc

Organization Overview

Idaho State University Foundation Inc is located in Pocatello, ID. The organization was established in 1967. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2021, Idaho State University Foundation Inc employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Idaho State University 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 06/2021, Idaho State University Foundation Inc generated $14.2m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.1% each year . All expenses for the organization totaled $10.2m during the year ending 06/2021. While expenses have increased by 5.4% per year over the past 6 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.

Mission & Program ActivityExcerpts From the 990T Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO SOLICIT, HOLD AND MANAGE DONATIONS FOR IDAHO STATE UNIVERSITY.

Describe the Organization's Program Activity:

THE IDAHO STATE UNIVERSITY FOUNDATION, INC. (THE FOUNDATION) AND SUBSIDIARY WAS FORMED IN MARCH 1967. THE FOUNDATION IS A NOT-FOR-PROFIT CORPORATION INCORPORATED IN ACCORDANCE WITH THE LAWS OF THE STATE OF IDAHO AND IS MANAGED BY A VOLUNTEER BOARD OF DIRECTORS. UNDER THE IDAHO STATE BOARD OF EDUCATION'S ADMINISTRATIVE RULES THE FOUNDATION MUST BE INDEPENDENT OF, AND CANNOT BE CONTROLLED BY, IDAHO STATE UNIVERSITY (THE UNIVERSITY). OPERATING AND SERVICES AGREEMENTS BETWEEN THE FOUNDATION AND THE UNIVERSITY DEFINE THE RELATIONSHIP BETWEEN THE TWO ENTITIES IN ACCORDANCE WITH THE STATE BOARD OF EDUCATION'S RULES. THE MISSION OF THE FOUNDATION IS ACCOMPLISHED BY FOCUSING ON THREE PRIMARY SERVICE AREAS. (CONTINUED ON SCHEDULE O)ACADEMIC, DEVELOPMENT AND PROGRAM SUPPORT:THE FOUNDATION WORKS TO STIMULATE VOLUNTARY PRIVATE SUPPORT FROM ALUMNI, PARENTS, FRIENDS, CORPORATIONS, FOUNDATIONS, AND OTHERS FOR THE BENEFIT OF THE UNIVERSITY. THESE RESOURCES PROVIDE OPPORTUNITIES FOR STUDENTS AND A DEGREE OF INSTITUTIONAL EXCELLENCE UNAVAILABLE WITH STATE FUNDING LEVELS.ENDOWMENT AND PRIVATE RESOURCE MANAGEMENT:THE FOUNDATION MANAGES THE ENDOWMENT AND OTHER PRIVATELY DONATED FUNDS RECEIVED FOR THE BENEFIT OF THE UNIVERSITY AND ITS PROGRAMS. MANAGEMENT OF THESE RESOURCES INCLUDES SELECTION OF INVESTMENT ADVISORS,ESTABLISHING INVESTMENT TARGETS AND ALLOCATIONS, ENHANCING RETURNS ON INVESTED FUNDS, AND MANAGING CASH FLOWS TO MEET THE SPENDING NEEDS OF THE UNIVERSITY FROM ENDOWMENT AND OTHER FUNDS.


THE FOUNDATION HAD A SUBSIDIARY CORPORATION, BENGAL PHARMACY, LLC (THE PHARMACY). THE PHARMACY WAS FORMED AS A LIMITED LIABILITY COMPANY (LLC) WITH THE FOUNDATION AS THE SOLE MEMBER. THE PHARMACY WAS TRANSFERRED TO IDAHO STATE UNIVERSITY AS OF JUNE 30, 2021 AND THE PHARMACY IS NO LONGER A PROGRAM AS OF THAT DATE. THERE WAS NO CASH INCLUDED IN THE TRANSACTION THAT TRANSFERRED THE PHARMACY TO THE UNIVERSITY. THE TRANSFER WAS CONSIDERED A GIFT FROM THE FOUNDATION TO THE UNIVERSITY.


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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$9,955,896
Noncash contributions included in lines 1a–1f $1,181,197
Total Revenue from Contributions, Gifts, Grants & Similar$9,955,896
Total Program Service Revenue$1,165,530
Investment income $1,988,740
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $210,058
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $856,676
Miscellaneous Revenue$0
Total Revenue $14,176,900

Grants Awarded

Over the last fiscal year, Idaho State University Foundation Inc has awarded $7,155,630 in support to 2 organizations.

Grant RecipientAmount

IDAHO STATE UNIVERSITY

Org PageRecipient Profile

Pocatello, ID

PURPOSE: Academic, athletic, and general support for the University

$7,113,630

IDAHO COLLEGE OF OSTEOPATHIC MEDICINE LLC

PURPOSE: Scholarships

$42,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Idaho State University Foundation Inc has recieved totaling $5,000.

Awarding OrganizationAmount
Family Foundation Inc

Pocatello, ID

PURPOSE: DONATION

$5,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$58,999,191
Earnings$17,972,319
Admin Expense$390,228
Net Contributions$2,283,046
Grants$3,793,961
Ending Balance$75,070,367

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