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← MURRAY STATE UNIVERSITY FOUNDATION

Form 990 for tax year 2022

Filed by MURRAY STATE UNIVERSITY FOUNDATION.

Totals

Total revenue
$10,185,709
Total expenses
$6,973,783
Contributions and grants received
$4,121,425
Grants paid
$5,579,807
Program service revenue
$599,451
Investment income
$5,414,640
Other revenue
$50,193
Total assets, end of year
$170,455,346
Total liabilities, end of year
$38,048,069
Net assets or fund balances, end of year
$132,407,277
Program services expenses (Part IX)
$6,253,234
Management and general expenses
$720,549
Fundraising expenses
$0
Program service expenses (Part III)
$6,253,234

Program services were 89.7% 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

    $70,256

  • 1f · All other contributions, gifts and grants

    $4,051,169

  • 1g · Noncash contributions included above

    $748,440

  • 2a · Program service revenue: GOLF COURSE REVENUES

    total $544,080 · related or exempt $126,395 · unrelated business $417,685

  • 2b · Program service revenue: FEES

    total $55,371 · related or exempt $55,371

  • 3 · Investment income

    total $2,989,823 · excluded $2,989,823

  • 5 · Royalties

    total $385 · excluded $385

  • 6a · Gross rents

    real property $40,587

  • 6b · Less rental expenses

    real property $21,237

  • 6c · Rental income or loss

    real property $19,350

  • 6d · Net rental income or loss

    total $19,350 · excluded $19,350

  • 7a · Gross sales of assets other than inventory

    securities $2,424,817

  • 7b · Less cost or other basis and sales expenses

    securities $0

  • 7c · Gain or loss

    securities $2,424,817

  • 7d · Net gain or loss

    total $2,424,817 · excluded $2,424,817

  • 8a · Fundraising events: gross income

    $40,495

  • 8a · Fundraising events: contributions included on line 1c

    $70,256

  • 8b · Fundraising events: direct expenses

    $16,534

  • 8c · Net income from fundraising events

    total $23,961 · excluded $23,961

  • 11a · Other revenue: OTHER REVENUE

    total $6,497 · excluded $6,497

  • 11e · Other revenue, total

    $6,497

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $5,579,807 · program services $5,579,807

  • 11c · Fees: accounting

    total $35,000 · management and general $35,000

  • 11f · Fees: investment management

    total $164,029 · management and general $164,029

  • 11g · Fees: other

    total $85,044 · management and general $85,044

  • 13 · Office expenses

    total $44,572 · program services $4,000 · management and general $40,572

  • 16 · Occupancy

    total $10,355 · management and general $10,355

  • 22 · Depreciation, depletion and amortization

    total $30,613 · program services $23,983 · management and general $6,630

  • 23 · Insurance

    total $22,810 · management and general $22,810

  • 24a · Other expenses: GOLF COURSE EXPENSES

    total $562,650 · program services $562,650

  • 24b · Other expenses: SALARY REIMBURSEMENTS

    total $423,850 · program services $82,794 · management and general $341,056

  • 24c · Other expenses: CREDIT CARD FEES

    total $7,389 · management and general $7,389

  • 24d · Other expenses: SMALL EQUIPMENT PURCHAS

    total $6,423 · management and general $6,423

  • 24e · All other expenses

    total $1,241 · management and general $1,241

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,247 · end of year $5,247

  • 2 · Savings and temporary cash investments

    beginning of year $2,613,598 · end of year $1,572,691

  • 3 · Pledges and grants receivable

    beginning of year $588,680 · end of year $534,133

  • 4 · Accounts receivable

    beginning of year $64,650 · end of year $94,420

  • 8 · Inventories for sale or use

    beginning of year $33,306 · end of year $42,576

  • 9 · Prepaid expenses and deferred charges

    beginning of year $20,548 · end of year $25,249

  • 10a · Land, buildings and equipment: cost or other basis

    $11,626,494

  • 10b · Land, buildings and equipment: accumulated depreciation

    $2,907,139

  • 10c · Land, buildings and equipment, net

    beginning of year $8,664,750 · end of year $8,719,355

  • 11 · Investments: publicly traded securities

    beginning of year $137,449,350 · end of year $149,465,854

  • 12 · Investments: other securities

    beginning of year $1,076,033 · end of year $1,018,179

  • 15 · Other assets

    beginning of year $7,546,317 · end of year $8,977,642

  • 17 · Accounts payable and accrued expenses

    beginning of year $153,187 · end of year $184,676

  • 19 · Deferred revenue

    beginning of year $70,892 · end of year $90,374

  • 21 · Escrow or custodial account liability

    beginning of year $30,959,182 · end of year $31,772,956

  • 23 · Secured mortgages and notes payable

    beginning of year $5,523,020 · end of year $5,110,230

  • 25 · Other liabilities

    beginning of year $941,959 · end of year $889,833

  • 27 · Net assets without donor restrictions

    beginning of year $23,689,324 · end of year $27,824,589

  • 28 · Net assets with donor restrictions

    beginning of year $96,724,915 · end of year $104,582,688

Mission and programs · 2022

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 $5,690,584 · Grants $5,579,807 · Revenue $55,371

  • 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 $562,650 · Revenue $126,395

As filed on the 2022 return.

Listed in Part VII

  • Jerry T Shroat

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Harold G Doran Jr

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    2

  • C Steve Story

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Timothy M Adams

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Richard A Dick Anderson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mary Rheaetta Rhea Ashby

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • David M Dill

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Camisha Duffy

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Michael S Hamilton

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Karen Jones Squires

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Thomas B Logan

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • George E Long II

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Joe A Owen

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Lana G Porter

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Jessica Reed

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Shawn L Reynolds

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Kris A Robbins

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dennis W Smith

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Jacqueline Taylor Smith

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Alan C Stout

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Timothy S Todd

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Michael M Pitman

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Kathy Harris

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr David W Durr

    PRESIDENT

    Total calculated
    $90,101
    From this org
    $77,297
    From related orgs
    $0
    Other
    $12,804
    Hours/week
    20

  • Carol Gallimore

    SECRETARY

    Total calculated
    $62,267
    From this org
    $43,321
    From related orgs
    $0
    Other
    $18,946
    Hours/week
    38

  • James Crawford

    CONTROLLER

    Total calculated
    $105,601
    From this org
    $85,595
    From related orgs
    $0
    Other
    $20,006
    Hours/week
    40

  • Ellen Dale

    CONTROLLER

    Total calculated
    $13,247
    From this org
    $13,072
    From related orgs
    $0
    Other
    $175
    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

    $5,579,807

    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.

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
2022
Filed
16 October 2023
IRS schema version
2022v5.0
Source object
202333039349301593

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