Form 990 for tax year 2023
Filed by MINNESOTA STATE UNIVERSITY MANKATO FOUNDATION INCORPORATED.
Totals
- Total revenue
- $16,316,150
- Total expenses
- $7,257,034
- Contributions and grants received
- $12,245,036
- Grants paid
- $4,019,338
- Program service revenue
- $0
- Investment income
- $4,037,289
- Other revenue
- $33,825
- Total assets, end of year
- $101,080,500
- Total liabilities, end of year
- $900,681
- Net assets or fund balances, end of year
- $100,179,819
- Program services expenses (Part IX)
- $5,610,575
- Management and general expenses
- $1,229,204
- Fundraising expenses
- $417,255
- Program service expenses (Part III)
- $5,610,575
Program services were 77.3% 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
$12,245,036
-
1g · Noncash contributions included above
$376,942
-
3 · Investment income
total $1,413,647 · unrelated business $39,349 · excluded $1,374,298
-
5 · Royalties
total $5,128 · excluded $5,128
-
6a · Gross rents
real property $42,666
-
6b · Less rental expenses
real property $62,573
-
6c · Rental income or loss
real property -$19,907
-
6d · Net rental income or loss
total -$19,907 · excluded -$19,907
-
7a · Gross sales of assets other than inventory
securities $18,865,814 · other assets $906
-
7b · Less cost or other basis and sales expenses
securities $16,243,078 · other assets $0
-
7c · Gain or loss
securities $2,622,736 · other assets $906
-
7d · Net gain or loss
total $2,623,642 · excluded $2,623,642
-
11a · Other revenue: MISCELLANEOUS INCOME
total $48,604 · excluded $48,604
-
11e · Other revenue, total
$48,604
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $3,990,513 · program services $3,990,513
-
2 · Grants to domestic individuals
total $28,825 · program services $28,825
-
7 · Other salaries and wages
total $622,514 · program services $512,703 · fundraising $109,811
-
8 · Pension plan contributions
total $60,227 · program services $49,603 · fundraising $10,624
-
9 · Other employee benefits
total $128,205 · program services $105,590 · fundraising $22,615
-
10 · Payroll taxes
total $44,930 · program services $37,004 · fundraising $7,926
-
11b · Fees: legal
total $463 · management and general $463
-
11c · Fees: accounting
total $45,219 · management and general $45,219
-
11f · Fees: investment management
total $595,600 · management and general $595,600
-
11g · Fees: other
total $240,235 · program services $183,505 · management and general $56,730
-
12 · Advertising and promotion
total $3,736 · program services $3,560 · fundraising $176
-
13 · Office expenses
total $588,021 · program services $331,085 · management and general $256,936
-
14 · Information technology
total $233,481 · program services $32,381 · management and general $71,578 · fundraising $129,522
-
16 · Occupancy
total $4,285 · program services $2,953 · management and general $1,332
-
17 · Travel
total $191,161 · program services $170,387 · management and general $4,570 · fundraising $16,204
-
19 · Conferences, conventions and meetings
total $236,898 · program services $147,316 · management and general $89,582
-
23 · Insurance
total $13,656 · management and general $13,656
-
24a · Other expenses: BAD DEBT EXPENSE
total $120,252 · fundraising $120,252
-
24b · Other expenses: TAXES PAID
total $40,795 · management and general $40,795
-
24c · Other expenses: OTHER EXPENSES
total $34,952 · program services $1,066 · management and general $33,761 · fundraising $125
-
24d · Other expenses: MEMBERSHIPS
total $33,066 · program services $14,084 · management and general $18,982
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $261,644 · end of year $479,612
-
2 · Savings and temporary cash investments
beginning of year $505,331 · end of year $2,546,217
-
3 · Pledges and grants receivable
beginning of year $4,441,017 · end of year $8,667,650
-
9 · Prepaid expenses and deferred charges
beginning of year $43,963 · end of year $37,319
-
10a · Land, buildings and equipment: cost or other basis
$1,503,547
-
10c · Land, buildings and equipment, net
beginning of year $1,503,547 · end of year $1,503,547
-
11 · Investments: publicly traded securities
beginning of year $78,395,911 · end of year $86,698,252
-
12 · Investments: other securities
beginning of year $204,519 · end of year $239,261
-
15 · Other assets
beginning of year $1,078,120 · end of year $908,642
-
17 · Accounts payable and accrued expenses
beginning of year $265,780 · end of year $84,305
-
24 · Unsecured notes and loans payable
beginning of year $558,413 · end of year $558,413
-
25 · Other liabilities
beginning of year $333,458 · end of year $257,963
-
27 · Net assets without donor restrictions
beginning of year $3,475,066 · end of year $3,903,218
-
28 · Net assets with donor restrictions
beginning of year $81,801,335 · end of year $96,276,601
Mission and programs · 2023
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.
-
THE ORGANIZATION PROVIDES STUDENT AID OPPORTUNITIES FOR STUDENTS TO RECEIVE ACADEMIC SCHOLARSHIPS, ATHLETIC TALENT GRANTS, AND OTHER AWARDS AND SCHOLARSHIPS.
Expenses $2,668,476 · Grants $2,668,476
-
THE ORGANIZATION PROVIDES SUPPORT TO VARIOUS ACADEMIC AND ATHLETIC PROGRAMS, CLUBS, AND CONFERENCES OF THE UNIVERSITY. SUPPORT FOR UNIVERSITY ATHLETIC PROGRAMS - $653,893. SUPPORT FOR FACILITIES FOR VARIOUS ACADEMIC PROGRAMS - $96,200. SUPPORT FOR UNIVERSITY MUSIC PROGRAMS - $10,900. SUPPORT FOR THEATRE & DANCE PROGRAMS - $74,761. SUPPORT OF THE CENTER FOR RURAL BEHAVIORAL HEALTH - $350,000. SUPPORT FOR UNIVERSITY AUXILIARY PROGRAMS - $50,176. SUPPORT FOR EQUIPMENT AND FACILITIES FOR VARIOUS ATHLETICS PROGRAMS - $64,933. SUPPORT FOR THE MAVERICK REC N READ PROGRAM - $50,000.
Expenses $1,350,863 · Grants $1,350,863
-
THE ORGANIZATION PROVIDES SUPPORT FOR THE DEVELOPMENT OF STUDENTS AND STAFF THROUGH CONFERENCES, CONVENTIONS, WORKSHOPS, MEETINGS, SPEAKERS, AND OTHER PROFESSIONAL DEVELOPMENT ACTIVITIES. THE ORGANIZATION PROVIDES SUPPORT FOR STAFF AND STUDENT SALARIES, SUPPLIES, EQUIPMENT RENTAL, PRINTING, POSTAGE, AND OTHER EXPENSES USED TO ASSIST DAILY EDUCATIONAL OPERATIONS AND ACTIVITIES.
Expenses $1,591,236
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Harold K StanleyHAROLD K STANLEY
EXECUTIVE DIR. THRU 06/24
- Total calculated
- $252,033
- From this org
- $206,942
- From related orgs
- $0
- Other
- $45,091
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $206,942
- Bonus
- $0
- Other
- $0
- Deferred
- $18,400
- Nontaxable benefits
- $26,691
- Filer's total
- $252,033
-
Allan BohlkeALLAN BOHLKE
BOARD CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Jim LundJIM LUND
BOARD VICE-CHAIR
- Total calculated
- $0
- Hours/week
- 0.6
-
Todd LoosbrockTODD LOOSBROCK
TREASURER
- Total calculated
- $0
- Hours/week
- 0.6
-
Jennifer SpaudeJENNIFER SPAUDE
SECRETARY
- Total calculated
- $0
- Hours/week
- 0.3
-
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
-
Melissa BradleyMELISSA BRADLEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Rodney BrownRODNEY BROWN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Craig GomezCRAIG GOMEZ
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
- Total calculated
- $0
- Hours/week
- 0.3
-
Eric JohnsonERIC JOHNSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Rod JohnsonROD JOHNSON
DIRECTOR THRU 05/24
- Total calculated
- $0
- Hours/week
- 0.5
-
Kamal KaramKAMAL KARAM
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Barb KausBARB KAUS
DIRECTOR
- 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
-
Kris LindahlKRIS LINDAHL
DIRECTOR THRU 05/24
- 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
-
Chad TischerCHAD TISCHER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.4
-
Ron VetterRON VETTER
DIRECTOR THRU 05/24
- Total calculated
- $0
- Hours/week
- 0.3
-
Kirsten VossKIRSTEN VOSS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Bill WiltgenBILL WILTGEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.4
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
None.
Answered no
- 4a · Severance or change-of-control payment
- 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 EXECUTIVE DIRECTOR, HAROLD STANLEY, IS 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
$2,388,474
TO ASSIST THE UNIVERSITY IN AWARDING STUDENT SCHOLARSHIPS
-
MINNESOTA STATE UNIVERSITY
$1,602,039
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
-
CREATED TO HOLD WETLAND PROPERTY FOR FOUNDATION · MN · income $0 · assets $0
Directly controlled by MINNESOTA STATE UNIVERSITY MANKATO FOUNDATION
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 25 October 2024
- IRS schema version
- 2023v5.1
- Source object
- 202423139349302107
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