Form 990 for tax year 2024
Filed by MURRAY STATE UNIVERSITY FOUNDATION.
Totals
- Total revenue
- $13,974,160
- Total expenses
- $7,361,139
- Contributions and grants received
- $6,032,594
- Grants paid
- $5,552,373
- Program service revenue
- $679,342
- Investment income
- $7,244,384
- Other revenue
- $17,840
- Total assets, end of year
- $215,119,811
- Total liabilities, end of year
- $48,979,640
- Net assets or fund balances, end of year
- $166,140,171
- Program services expenses (Part IX)
- $6,680,135
- Management and general expenses
- $681,004
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $6,680,135
Program services were 90.7% 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.
-
1c · Fundraising events
$61,709
-
1f · All other contributions, gifts and grants
$5,970,885
-
1g · Noncash contributions included above
$305,109
-
2a · Program service revenue: GOLF COURSE REVENUES
total $654,339 · related or exempt $145,992 · unrelated business $508,347
-
2b · Program service revenue: FEES
total $25,003 · related or exempt $25,003
-
3 · Investment income
total $3,792,319 · excluded $3,792,319
-
5 · Royalties
total $481 · excluded $481
-
6a · Gross rents
real property $8,761
-
6b · Less rental expenses
real property $1,302
-
6c · Rental income or loss
real property $7,459
-
6d · Net rental income or loss
total $7,459 · excluded $7,459
-
7a · Gross sales of assets other than inventory
securities $3,456,167
-
7b · Less cost or other basis and sales expenses
securities $0 · other assets $4,102
-
7c · Gain or loss
securities $3,456,167 · other assets -$4,102
-
7d · Net gain or loss
total $3,452,065 · excluded $3,452,065
-
8a · Fundraising events: gross income
$17,331
-
8a · Fundraising events: contributions included on line 1c
$61,709
-
8b · Fundraising events: direct expenses
$27,675
-
8c · Net income from fundraising events
total -$10,344 · excluded -$10,344
-
11a · Other revenue: OTHER REVENUE
total $20,244 · excluded $20,244
-
11e · Other revenue, total
$20,244
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $5,552,373 · program services $5,552,373
-
11c · Fees: accounting
total $29,450 · management and general $29,450
-
11f · Fees: investment management
total $213,526 · management and general $213,526
-
13 · Office expenses
total $38,326 · program services $4,000 · management and general $34,326
-
22 · Depreciation, depletion and amortization
total $33,222 · program services $24,152 · management and general $9,070
-
23 · Insurance
total $25,364 · management and general $25,364
-
24a · Other expenses: GOLF COURSE EXPENSES
total $854,541 · program services $854,541
-
24b · Other expenses: SALARY REIMBURSEMENTS
total $443,747 · program services $90,069 · management and general $353,678
-
24c · Other expenses: INSTITUTIONAL SUPPORT
total $155,000 · program services $155,000
-
24d · Other expenses: OTHER FEES
total $15,590 · management and general $15,590
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $5,247 · end of year $900
-
2 · Savings and temporary cash investments
beginning of year $2,361,250 · end of year $6,727,723
-
3 · Pledges and grants receivable
beginning of year $2,745,594 · end of year $2,855,805
-
4 · Accounts receivable
beginning of year $175,590 · end of year $257,840
-
8 · Inventories for sale or use
beginning of year $39,958 · end of year $39,250
-
9 · Prepaid expenses and deferred charges
beginning of year $48,497 · end of year $51,878
-
10a · Land, buildings and equipment: cost or other basis
$10,546,073
-
10b · Land, buildings and equipment: accumulated depreciation
$2,652,368
-
10c · Land, buildings and equipment, net
beginning of year $8,679,789 · end of year $7,893,705
-
11 · Investments: publicly traded securities
beginning of year $165,050,899 · end of year $182,731,146
-
12 · Investments: other securities
beginning of year $966,731 · end of year $873,458
-
15 · Other assets
beginning of year $12,174,146 · end of year $13,688,106
-
17 · Accounts payable and accrued expenses
beginning of year $501,456 · end of year $296,992
-
19 · Deferred revenue
beginning of year $62,046 · end of year $53,297
-
21 · Escrow or custodial account liability
beginning of year $33,676,643 · end of year $41,410,014
-
23 · Secured mortgages and notes payable
beginning of year $6,187,192 · end of year $6,185,814
-
25 · Other liabilities
beginning of year $1,115,867 · end of year $1,033,523
-
27 · Net assets without donor restrictions
beginning of year $31,830,831 · end of year $35,402,591
-
28 · Net assets with donor restrictions
beginning of year $118,873,666 · end of year $130,737,580
Mission and programs · 2024
Mission
ENHANCEMENT OF MURRAY STATE UNIVERSITY BY ASSISTING IN FUNDRAISING, COLLECTING CONTRIBUTIONS FOR STUDENT SCHOLARSHIPS, FACULTY SUPPORT, AND SPECIAL PROJECTS. THE FOUNDATION ALSO ASSISTS IN MANAGING SCHOLARSHIP DISBURSEMENTS AND INVESTMENT MANAGEMENT.
-
IMPROVEMENT AND ENHANCEMENT OF MURRAY STATE UNIVERSITY BY ASSISTING IN FUNDRAISING, COLLECTING CONTRIBUTIONS, AIDING DONORS WITH ESTATE AND PLANNED GIVING AND ESTABLISHING ENDOWMENTS, DISBURSEMENT OF FUNDS TO BE USED FOR SCHOLARSHIPS, ENDOWED PROFESSORSHIPS, FACULTY SUPPORT, AND OTHER EXPENDITURES ON BEHALF OF STUDENTS AND FACULTY.
Expenses $5,825,594 · Grants $5,552,373 · Revenue $25,003
-
PROVIDING RECREATION FOR THE CONVENIENCE OF THE STUDENTS, FACULTY, STAFF, AND ALUMNI OF MURRAY STATE UNIVERSITY, AS WELL AS THE COMMUNITY AND REGION. THROUGH THE OPERATION OF MILLER MEMORIAL GOLF COURSE, THE UNIVERSITY GOLF TEAM UTILIZES THE COURSE AS ITS PRACTICE FACILITY AND HOME COURSE.
Expenses $854,541 · Revenue $145,992
As filed on the 2024 return.
Listed in Part VII
-
Jerry T ShroatJERRY T SHROAT
CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Michael S HamiltonMICHAEL S HAMILTON
VICE-CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
C Steve StoryC STEVE STORY
TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Timothy M AdamsTIMOTHY M ADAMS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Richard A Dick AndersonRICHARD A DICK ANDERSON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mary Rheaetta Rhea AshbyMARY RHEAETTA RHEA ASHBY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Carrie A BrownCARRIE A BROWN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Melanie G CulverMELANIE G CULVER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
David M DillDAVID M DILL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Gary Thomas DraffenGARY THOMAS DRAFFEN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Camisha DuffyCAMISHA DUFFY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Lucinda K GrinerLUCINDA K GRINER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Kathy HarrisKATHY HARRIS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
George E Long IIGEORGE E LONG II
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Joe A OwenJOE A OWEN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Michael M PitmanMICHAEL M PITMAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Lana G PorterLANA G PORTER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Jessica ReedJESSICA REED
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Shawn L ReynoldsSHAWN L REYNOLDS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Roy C Riley JrROY C RILEY JR
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Dennis W SmithDENNIS W SMITH
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Alan C StoutALAN C STOUT
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Michael ThorneMICHAEL THORNE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Timothy S ToddTIMOTHY S TODD
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Dr David W DurrDR DAVID W DURR
PRESIDENT
- Total calculated
- $97,560
- From this org
- $83,877
- From related orgs
- $0
- Other
- $13,683
- Hours/week
- 20
-
Carol GallimoreCAROL GALLIMORE
SECRETARY
- Total calculated
- $68,143
- From this org
- $44,327
- From related orgs
- $0
- Other
- $23,816
- Hours/week
- 38
-
Ellen DaleELLEN DALE
CONTROLLER
- Total calculated
- $121,485
- From this org
- $92,458
- From related orgs
- $0
- Other
- $29,027
- Hours/week
- 40
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.
Grants on this return
-
MURRAY STATE UNIVERSITY
$5,552,373
FUND SCHOLARSHIP FOR STUDENTS AT MSU AND GENERAL UNIVERSITY SUPPORT
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
MURRAY STATE CAMPUS IMPROVEMENT CORPORATION
501(C)(3) · TO PERFORM FUNCTIONS OF OR CARRY OUT THE PURPOSES OF THE FOUNDATION · KY · controlled entity
Directly controlled by MURRAY STATE UNIVERSITY FOUNDATION INC
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.
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
CHARITABLE REMAINDER UNITRUSTS (5)
INVESTMENTS · KY
-
CHARITABLE REMAINDER ANNUITY TRUSTS (3)
INVESTMENTS · KY
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 3 November 2025
- IRS schema version
- 2024v5.2
- Source object
- 202543079349301924
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