Form 990 for tax year 2024
Filed by MINNESOTA STATE UNIVERSITY MANKATO FOUNDATION INCORPORATED.
Totals
- Total revenue
- $30,343,857
- Total expenses
- $9,131,149
- Contributions and grants received
- $22,527,311
- Grants paid
- $3,975,875
- Program service revenue
- $0
- Investment income
- $7,681,930
- Other revenue
- $134,616
- Total assets, end of year
- $127,735,165
- Total liabilities, end of year
- $2,318,155
- Net assets or fund balances, end of year
- $125,417,010
- Program services expenses (Part IX)
- $6,875,135
- Management and general expenses
- $1,224,321
- Fundraising expenses
- $1,031,693
- Program service expenses (Part III)
- $6,875,135
Program services were 75.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1f · All other contributions, gifts and grants
$22,527,311
-
1g · Noncash contributions included above
$3,002,409
-
3 · Investment income
total $1,593,458 · unrelated business -$8,194 · excluded $1,601,652
-
5 · Royalties
total $5,639 · excluded $5,639
-
6a · Gross rents
real property $44,477
-
6b · Less rental expenses
real property $63,574
-
6c · Rental income or loss
real property -$19,097
-
6d · Net rental income or loss
total -$19,097 · excluded -$19,097
-
7a · Gross sales of assets other than inventory
securities $20,197,390
-
7b · Less cost or other basis and sales expenses
securities $14,108,918
-
7c · Gain or loss
securities $6,088,472
-
7d · Net gain or loss
total $6,088,472 · excluded $6,088,472
-
11a · Other revenue: MISCELLANEOUS INCOME
total $148,074 · excluded $148,074
-
11e · Other revenue, total
$148,074
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $3,949,925 · program services $3,949,925
-
2 · Grants to domestic individuals
total $25,950 · program services $25,950
-
7 · Other salaries and wages
total $747,514 · program services $589,593 · fundraising $157,921
-
8 · Pension plan contributions
total $70,615 · program services $55,697 · fundraising $14,918
-
9 · Other employee benefits
total $141,445 · program services $111,563 · fundraising $29,882
-
10 · Payroll taxes
total $54,607 · program services $43,070 · fundraising $11,537
-
11b · Fees: legal
total $31,164 · management and general $31,164
-
11c · Fees: accounting
total $48,773 · management and general $48,773
-
11f · Fees: investment management
total $602,262 · management and general $602,262
-
11g · Fees: other
total $736,665 · program services $277,908 · management and general $85,662 · fundraising $373,095
-
12 · Advertising and promotion
total $1,567 · program services $1,472 · fundraising $95
-
13 · Office expenses
total $1,098,968 · program services $958,598 · management and general $140,370
-
14 · Information technology
total $285,341 · program services $49,685 · management and general $80,577 · fundraising $155,079
-
16 · Occupancy
total $505,657 · program services $500,628 · management and general $5,029
-
17 · Travel
total $170,273 · program services $156,083 · management and general $4,096 · fundraising $10,094
-
19 · Conferences, conventions and meetings
total $266,232 · program services $132,660 · management and general $133,572
-
23 · Insurance
total $8,184 · management and general $8,184
-
24a · Other expenses: BAD DEBT EXPENSE
total $276,359 · fundraising $276,359
-
24b · Other expenses: MEMBERSHIPS
total $67,582 · program services $19,052 · management and general $48,530
-
24c · Other expenses: OTHER EXPENSES
total $42,066 · program services $3,251 · management and general $36,102 · fundraising $2,713
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $479,612 · end of year $413,699
-
2 · Savings and temporary cash investments
beginning of year $2,546,217 · end of year $1,211,764
-
3 · Pledges and grants receivable
beginning of year $8,667,650 · end of year $17,917,010
-
9 · Prepaid expenses and deferred charges
beginning of year $37,319 · end of year $37,721
-
10a · Land, buildings and equipment: cost or other basis
$3,193,547
-
10c · Land, buildings and equipment, net
beginning of year $1,503,547 · end of year $3,193,547
-
11 · Investments: publicly traded securities
beginning of year $86,698,252 · end of year $103,743,858
-
12 · Investments: other securities
beginning of year $239,261 · end of year $259,442
-
15 · Other assets
beginning of year $908,642 · end of year $958,124
-
17 · Accounts payable and accrued expenses
beginning of year $84,305 · end of year $1,029,507
-
24 · Unsecured notes and loans payable
beginning of year $558,413 · end of year $558,413
-
25 · Other liabilities
beginning of year $257,963 · end of year $730,235
-
27 · Net assets without donor restrictions
beginning of year $3,903,218 · end of year $5,767,330
-
28 · Net assets with donor restrictions
beginning of year $96,276,601 · end of year $119,649,680
Mission and programs · 2024
Mission
MINNESOTA STATE UNIVERSITY, MANKATO FOUNDATION, INC. IS DEDICATED TO SECURING PRIVATE GIFTS AND GRANTS TO BENEFIT MINNESOTA STATE UNIVERSITY, MANKATO. EACH YEAR, THOUSANDS OF GENEROUS BENEFACTORS MAKE GIFTS TO HELP STUDENTS, FACULTY AND PROGRAMS AT THIS UNIVERSITY. THE FOUNDATION'S MISSION IS TO ENHANCE THE UNIVERSITY'S ABILITY TO ACHIEVE ITS MISSION BY ENCOURAGING AND STEWARDING SUSTAINED PHILANTHROPIC SUPPORT FROM ALUMNI AND FRIENDS. THE FOUNDATION OPERATES WITH RESPONSIBLE STEWARDSHIP, INTEGRITY, TRANSPARENCY AND TRUST, PROVIDES LEADERSHIP, ADVOCACY AND SUPPORT OF THE UNIVERSITY'S STRATEGIC PRIORITIES, PROVIDES SUPPORT FOR EDUCATIONAL ACCESS AND FOR ENRICHING EXPERIENCES FOR STUDENTS, AND PROVIDES LEADERSHIP IN PROMOTING AND ENGAGING DONOR PASSION.
Activities or mission (Part I)
TO ENHANCE MINNESOTA STATE UNIVERSITY, MANKATO'S ABILITY TO ACHIEVE ITS MISSION.
-
THROUGH A ROBUST INVESTMENT OUR ORGANIZATION EMPOWERS BOTH STUDENTS AND STAFF BY FACILITATING HANDS ON LEARNING EXPERIENCES RANGING FROM CONFERENCES AND CONVENTIONS TO WORKSHOPS, MEETINGS AND GUEST SPEAKERS. THIS SUPPORT IS DEEPLY ALIGNED WITH MINNESOTA STATE UNIVERSITY, MANKATO'S MISSION TO FOSTER HIGH IMPACT EXPERIENCES, CONTINUOUS LEARNING AND HANDS-ON GROWTH. PROFESSIONAL DEVELOPMENT OPPORTUNITIES ARE DESIGNED TO FOSTER COLLABORATION AND INNOVATION WHILE EMPOWERING STUDENTS AND STAFF TO EXPAND THEIR EXPERTISE AND ADAPT IN A RAPIDLY CHANGING WORLD. BY INVESTING IN INNOVATIVE PROGRAMS AND PROFESSIONAL DEVELOPMENT, WE ENSURE THAT EVERY MAVERICK HAS THE OPPORTUNITY TO LEARN BY DOING, GROW AS A LEADER, AND CONTRIBUTE MEANINGFULLY TO THEIR FIELD AND COMMUNITY.
Expenses $2,899,260
-
A CORE VALUE OF OUR ORGANIZATION IS MAKING A HIGH-QUALITY EDUCATION AFFORDABLE AND ACCESSIBLE FOR ALL. DONOR GENEROSITY DIRECTLY FUNDS SCHOLARSHIPS, GRANTS, AND OTHER AWARDS THAT REDUCE FINANCIAL BARRIERS FOR STUDENTS. OUR COMMITMENT TO AFFORDABILITY MEANS MORE STUDENTS CAN PURSUE THEIR DREAMS, GRADUATE WITH LESS DEBT, AND ACCESS THE LIFE-CHANGING OPPORTUNITIES THAT OUR MINNESOTA STATE UNIVERSITY, MANKATO EDUCATION PROVIDES. EVERY GIFT HELPS OPEN DOORS FOR TALENTED STUDENTS FROM ALL BACKGROUNDS, ENSURING THAT COST IS NEVER A BARRIER TO EXCELLENCE.
Expenses $2,886,044 · Grants $2,886,044
-
OUR ORGANIZATION INVESTED FUNDS TO MAKE POSSIBLE THE TRANSFORMATIONAL EXPERIENCES THAT DEFINE A MINNESOTA STATE UNIVERSITY, MANKATO EDUCATION. THIS SUPPORT SPANS A DIVERSE ARRAY OF PROGRAMS AND INITIATIVES INCLUDING $570,813 TO BOLSTER UNIVERSITY ATHLETIC PROGRAMS WHICH IS FUELING STUDENT-ATHLETE SUCCESS; $150,000 TO STRENGTHEN THE CENTER FOR RURAL BEHAVIORAL HEALTH BY EXPANDING VITAL SERVICES; $105,331 TO PROVIDE EQUIPMENT AND FACILITIES FOR ATHLETICS, IMPROVING TRAINING AND COMPETITION ENVIRONMENTS; $74,240 FUELED THE MAVERICK INNOVATION GATEWAY, FOSTERING ENTREPRENEURSHIP AND INNOVATION; $68,000 POWERED THE MAVERICK REC N READ PROGRAM, PROMOTING LITERACY AND WELLNESS; $59,406 SUSTAINED UNIVERSITY AUXILIARY PROGRAMS, ENSURING OPERATIONAL EXCELLENCE; $41,543 SUPPORTED THEATRE AND DANCE PROGRAMS, BRINGING CREATIVE EXPRESSION TO CAMPUS; $11,698 TO ENHANCE FACILITIES FOR ACADEMIC PROGRAMS, CREATING SPACES FOR LEARNING AND DISCOVERY; AND $8,800 TO ADVANCE THE UNIVERSITY'S MUSIC PROGRAMS, NURTURING ARTISTIC TALENT.FROM IMMERSIVE LEARNING IN THE CLASSROOM TO LEADERSHIP ROLES, COMMUNITY ENGAGEMENT, AND GLOBAL STUDY OPPORTUNITIES, PHILANTHROPIC SUPPORT TURNS POTENTIAL INTO ACHIEVEMENT. EACH GRANT REFLECTS THE ORGANIZATION'S DEDICATION TO CULTIVATING OPPORTUNITY, EXCELLENCE, AND COMMUNITY IMPACT ACROSS MINNESOTA STATE UNIVERSITY, MANKATO.
Expenses $1,089,831 · Grants $1,089,831
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Kirsten VossKIRSTEN VOSS
BOARD VICE-CHAIR
- Total calculated
- $0
- Hours/week
- 0.6
-
Rodney BrownRODNEY BROWN
SECRETARY
- Total calculated
- $0
- Hours/week
- 0.6
-
Todd LoosbrockTODD LOOSBROCK
TREASURER
- Total calculated
- $0
- Hours/week
- 0.6
-
Jay AdamsJAY ADAMS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Brett AndersonBRETT ANDERSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Mona AskalaniMONA ASKALANI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Allan BohlkeALLAN BOHLKE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.4
-
Melissa BradleyMELISSA BRADLEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Craig GomezCRAIG GOMEZ
DIRECTOR THRU 05/25
- Total calculated
- $0
- Hours/week
- 0.3
-
Rachel HassasRACHEL HASSAS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Barbara HubbardBARBARA HUBBARD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.4
-
Timothy HuebschTIMOTHY HUEBSCH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Lisa HylandLISA HYLAND
DIRECTOR THRU 05/25
- Total calculated
- $0
- Hours/week
- 0.3
-
Eric JohnsonERIC JOHNSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Angela JusticeANGELA JUSTICE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Kamal KaramKAMAL KARAM
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Barb KausBARB KAUS
DIRECTOR THRU 05/25
- Total calculated
- $0
- Hours/week
- 0.3
-
Todd KelzenbergTODD KELZENBERG
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Christine LantinenCHRISTINE LANTINEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Susan MichaletzSUSAN MICHALETZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Daniel MundahlDANIEL MUNDAHL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Karen OberleKAREN OBERLE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Michelle SchooffMICHELLE SCHOOFF
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Jennifer SpaudeJENNIFER SPAUDE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.4
-
Chad TischerCHAD TISCHER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.4
-
Bill WiltgenBILL WILTGEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.4
-
John ZakJOHN ZAK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Amy M CooneyAMY M COONEY
EXECUTIVE DIRECTOR AS OF 03/25
- Total calculated
- $186,828
- From this org
- $145,791
- From related orgs
- $0
- Other
- $41,037
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $145,791
- Bonus
- $0
- Other
- $0
- Deferred
- $13,490
- Nontaxable benefits
- $27,547
- Filer's total
- $186,828
-
Richard OrtegaRICHARD ORTEGA
INTERIM EXEC. DIRECTOR THRU 03/25
- Total calculated
- $109,559
- From this org
- $96,005
- From related orgs
- $0
- Other
- $13,554
- Hours/week
- 20
Schedule J breakdown matched by us
- Base
- $96,005
- Bonus
- $0
- Other
- $0
- Deferred
- $8,178
- Nontaxable benefits
- $5,376
- Filer's total
- $109,559
-
Jim LundJIM LUND
BOARD CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Harold K StanleyHAROLD K STANLEY
FORMER OFFICER THRU 05/24
- Total calculated
- $200,434
- From this org
- $169,052
- From related orgs
- $0
- Other
- $31,382
- Hours/week
- 30
Schedule J breakdown matched by us
- Base
- $169,052
- Bonus
- $0
- Other
- $0
- Deferred
- $13,619
- Nontaxable benefits
- $17,763
- Filer's total
- $200,434
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 4a · Severance or change-of-control payment
Answered no
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- FORM 990, SCHEDULE J, PART II
- THE FOUNDATION'S FORMER AND CURRENT EXECUTIVE DIRECTORS HAROLD STANLEY, RICHARD ORTEGA, AND AMY M COONEY ARE COMPENSATED BY AN UNRELATED ORGANIZATION, MINNESOTA STATE UNIVERSITY, MANKATO FOR SERVICES PROVIDED TO THE FILING ORGANIZATION.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
-
MINNESOTA STATE UNIVERSITY
$2,606,817
TO ASSIST THE UNIVERSITY IN AWARDING STUDENT SCHOLARSHIPS
-
MINNESOTA STATE UNIVERSITY
$1,343,108
ASSISTING THE UNIVERSITY WITH PROGRAM RELATED COSTS AND PROMOTING THE UNIVERSITY, INCLUDING ATHLETIC TALENT GRANTS.
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
MAVERICK PHILANTHROPIC PROPERTIES LLC
CREATED TO HOLD PROPERTY FOR FOUNDATION · MN · income $0 · assets $1,503,547
Directly controlled by MINNESOTA STATE UNIVERSITY MANKATO FOUNDATION
-
MAVERICK REAL ESTATE FOUNDATION INC
RECEIVE, PURCHASE, DEVELOP AND HOLD REAL ESTATE FOR THE BENEFIT OF THE UNIV · MN · income $0 · assets $0
Directly controlled by MINNESOTA STATE UNIVERSITY MANKATO FOUNDATION INC
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 5 November 2026
- IRS schema version
- 2024v5.2
- Source object
- 202533179349309888
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