Kummer Institute Foundation
- Assets
- $382.8m
- Revenue
- $10.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Rolla, MO
- Founding
- Data as of
- 12/2023
- EIN
- 85-2720148
Organization Overview
Kummer Institute Foundation is located in Rolla, MO. 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. Kummer Institute 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 12/2023, Kummer Institute Foundation generated $10.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (57.0%) each year.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE MISSOURI S&T WITH THE SUPPORT NEEDED TO MAKE MISSOURI S&T ONE OF THE NATION'S LEADING UNIVERSITIES FOR INNOVATION AND A CENTER FOR ENTREPRENEURSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION WILL SUPPORT THE KUMMER INSTITUTE BY PROVIDING MISSOURI S&T (A COMPONENT UNIT OF CURATORS OF THE UNIVERSITY OF MISSOURI) WITH THE FUNDING NEEDED TO ESTABLISH A NEW SCHOOL OF INNOVATION AND ENTREPRENEURSHIP, DEVELOP NEW AREAS OF RESEARCH, PROVIDE NUMEROUS SCHOLARSHIPS AND FELLOWSHIPS FOR STUDENTS, AND BOLSTER THE MISSOURI ECONOMY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mohammad Dehghani President | OfficerTrustee | 10 | $0 |
George P Peterson Chair | OfficerTrustee | 5 | $0 |
Joan B Woodard Treasurer- Committee Chair | OfficerTrustee | 2 | $0 |
Joseph D Lehrer Secretary- Committee Chair | OfficerTrustee | 5 | $0 |
Tim Bradley Director (beg 10/23) | Trustee | 2 | $0 |
Bipin N Doshi Director | Trustee | 2 | $0 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $9,806,957 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $964,081 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,771,038 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $47,431,738 |
| 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 | $0 |
| Fees for services: Accounting | $32,640 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $254,916 |
| Fees for services: Other | $110,806 |
| Advertising and promotion | $0 |
| Office expenses | $37,374 |
| 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 | $0 |
| Insurance | $21,739 |
| All other expenses | $0 |
| Total functional expenses | $47,889,213 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $28,897,117 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $353,922,940 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $382,820,057 |
| Accounts payable and accrued expenses | $36,977 |
| Grants payable | $18,749,109 |
| 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 | $18,786,086 |
| Net assets without donor restrictions | $364,033,971 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $382,820,057 |