← MIDDLE TENNESSEE STATE UNIVERSITY FOUNDATION

Form 990 for tax year 2023

Filed by MIDDLE TENNESSEE STATE UNIVERSITY FOUNDATION.

Totals

Total revenue: $28,381,920
Total expenses: $21,078,026
Contributions and grants received: $20,332,802
Grants paid: $3,183,784
Program service revenue: $0
Investment income: $1,565,640
Other revenue: $6,483,478
Total assets, end of year: $151,045,649
Total liabilities, end of year: $3,070,533
Net assets or fund balances, end of year: $147,975,116
Program services expenses (Part IX): $14,477,624
Management and general expenses: $6,142,604
Fundraising expenses: $457,798
Program service expenses (Part III): $14,477,624

Program services were 68.7% 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.

1a · Federated campaigns

$0
1b · Membership dues

$0
1c · Fundraising events

$0
1d · Related organizations

$0
1e · Government grants (contributions)

$0
1f · All other contributions, gifts and grants

$20,332,802
1g · Noncash contributions included above

$5,842,931
2a · Program service revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
2b · Program service revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
2c · Program service revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
2d · Program service revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
2e · Program service revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
2f · All other program service revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
3 · Investment income

total $1,558,398 · related or exempt $0 · unrelated business $0 · excluded $1,558,398
4 · Income from investment of tax-exempt bond proceeds

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
5 · Royalties

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
6a · Gross rents

real property $0 · personal property $0
6b · Less rental expenses

real property $0 · personal property $0
6c · Rental income or loss

real property $0 · personal property $0
6d · Net rental income or loss

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
7a · Gross sales of assets other than inventory

securities $0 · other assets $260,000
7b · Less cost or other basis and sales expenses

securities $0 · other assets $252,758
7c · Gain or loss

securities $0 · other assets $7,242
7d · Net gain or loss

total $7,242 · related or exempt $0 · unrelated business $0 · excluded $7,242
8a · Fundraising events: gross income

$0
8a · Fundraising events: contributions included on line 1c

$0
8b · Fundraising events: direct expenses

$0
8c · Net income from fundraising events

total $0 · unrelated business $0 · excluded $0
9a · Gaming: gross income

$0
9b · Gaming: direct expenses

$0
9c · Net income from gaming

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
10a · Gross sales of inventory

$0
10b · Cost of goods sold

$0
10c · Net income from sales of inventory

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
11a · Other revenue: Realized Gains

total $1,266,176 · related or exempt $0 · unrelated business $0 · excluded $1,266,176
11b · Other revenue: Unrealized Gains

total $5,191,651 · related or exempt $0 · unrelated business $0 · excluded $5,191,651
11c · Other revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
11d · All other revenue

total $25,651 · related or exempt $0 · unrelated business $0 · excluded $25,651
11e · Other revenue, total

$6,483,478

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $0 · program services $0
2 · Grants to domestic individuals

total $3,183,784 · program services $3,183,784
3 · Grants to foreign organizations and individuals

total $0 · program services $0
4 · Benefits paid to or for members

total $0 · program services $0
5 · Compensation of officers, directors and key employees

total $0 · program services $0 · management and general $0 · fundraising $0
6 · Compensation of disqualified persons

total $0 · program services $0 · management and general $0 · fundraising $0
7 · Other salaries and wages

total $0 · program services $0 · management and general $0 · fundraising $0
8 · Pension plan contributions

total $0 · program services $0 · management and general $0 · fundraising $0
9 · Other employee benefits

total $0 · program services $0 · management and general $0 · fundraising $0
10 · Payroll taxes

total $0 · program services $0 · management and general $0 · fundraising $0
11a · Fees: management

total $0 · program services $0 · management and general $0 · fundraising $0
11b · Fees: legal

total $617 · program services $0 · management and general $617 · fundraising $0
11c · Fees: accounting

total $0 · program services $0 · management and general $0 · fundraising $0
11d · Fees: lobbying

total $0 · program services $0 · management and general $0 · fundraising $0
11e · Fees: professional fundraising services

total $0 · fundraising $0
11f · Fees: investment management

total $333,577 · program services $0 · management and general $333,577 · fundraising $0
11g · Fees: other

total $559,063 · program services $559,063 · management and general $0 · fundraising $0
12 · Advertising and promotion

total $121,580 · program services $28,393 · management and general $250 · fundraising $92,937
13 · Office expenses

total $447,085 · program services $412,863 · management and general $0 · fundraising $34,222
14 · Information technology

total $83,288 · program services $83,288 · management and general $0 · fundraising $0
15 · Royalties

total $0 · program services $0 · management and general $0 · fundraising $0
16 · Occupancy

total $0 · program services $0 · management and general $0 · fundraising $0
17 · Travel

total $388,624 · program services $357,938 · management and general $0 · fundraising $30,686
18 · Travel or entertainment for public officials

total $0 · program services $0 · management and general $0 · fundraising $0
19 · Conferences, conventions and meetings

total $0 · program services $0 · management and general $0 · fundraising $0
20 · Interest

total $0 · program services $0 · management and general $0 · fundraising $0
21 · Payments to affiliates

total $0 · program services $0 · management and general $0 · fundraising $0
22 · Depreciation, depletion and amortization

total $18,135 · program services $0 · management and general $18,135 · fundraising $0
23 · Insurance

total $92,929 · program services $0 · management and general $7,783 · fundraising $85,146
24a · Other expenses: Maintenance & Real Estate Taxes

total $248,510 · program services $0 · management and general $248,510 · fundraising $0
24b · Other expenses: Institutional Support

total $9,573,372 · program services $9,573,372 · management and general $0 · fundraising $0
24c · Other expenses: Food & Beverage

total $477,520 · program services $262,713 · management and general $0 · fundraising $214,807
24d · Other expenses: In-Kind Gift Expense

total $5,525,739 · program services $0 · management and general $5,525,739 · fundraising $0
24e · All other expenses

total $24,203 · program services $16,210 · management and general $7,993 · fundraising $0
26 · Joint costs (an allocation of the lines above)

total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $0 · end of year $0
2 · Savings and temporary cash investments

beginning of year $33,181,406 · end of year $36,078,586
3 · Pledges and grants receivable

beginning of year $15,287,461 · end of year $15,782,322
4 · Accounts receivable

beginning of year $59,883 · end of year $84,508
5 · Loans and receivables from officers and key people

beginning of year $0 · end of year $0
6 · Loans and receivables from disqualified persons

beginning of year $0 · end of year $0
7 · Other notes and loans receivable

beginning of year $0 · end of year $0
8 · Inventories for sale or use

beginning of year $0 · end of year $0
9 · Prepaid expenses and deferred charges

beginning of year $30,000 · end of year $2,675
10a · Land, buildings and equipment: cost or other basis

$1,523,164
10b · Land, buildings and equipment: accumulated depreciation

$839,927
10c · Land, buildings and equipment, net

beginning of year $954,130 · end of year $683,237
11 · Investments: publicly traded securities

beginning of year $92,537,893 · end of year $98,414,321
12 · Investments: other securities

beginning of year $0 · end of year $0
13 · Investments: program-related

beginning of year $0 · end of year $0
14 · Intangible assets

beginning of year $0 · end of year $0
15 · Other assets

beginning of year $0 · end of year $0
17 · Accounts payable and accrued expenses

beginning of year $1,379,551 · end of year $3,070,533
18 · Grants payable

beginning of year $0 · end of year $0
19 · Deferred revenue

beginning of year $0 · end of year $0
20 · Tax-exempt bond liabilities

beginning of year $0 · end of year $0
21 · Escrow or custodial account liability

beginning of year $0 · end of year $0
22 · Loans and payables to officers and key people

beginning of year $0 · end of year $0
23 · Secured mortgages and notes payable

beginning of year $0 · end of year $0
24 · Unsecured notes and loans payable

beginning of year $0 · end of year $0
25 · Other liabilities

beginning of year $0 · end of year $0
27 · Net assets without donor restrictions

beginning of year $4,930,014 · end of year $6,192,101
28 · Net assets with donor restrictions

beginning of year $135,741,208 · end of year $141,783,015

Mission and programs · 2023

Mission

Fundraising for educational and related support of Middle Tennessee State University

For the fiscal year ended June 30 2024 the Foundation raised $20,332,802 in contributions and disbursed $14,477,624 in program expenses including $3,183,784 in scholarships and awards.

Expenses $14,477,624 · Grants $3,183,784 · Revenue $20,332,802

As filed on the 2023 return.

Listed in Part VII

Ronda Vaughter

Assistant VP - Advancement

Total calculated

$113,831

From this org

$0

From related orgs

$113,831

Other

$0

Hours/week

37.5

Schedule J breakdown matched by us

Base

$0 + $113,831 related

Bonus

$0

Other

$0

Deferred

$0

Nontaxable benefits

$0

Filer's total

$0 + $113,831 related
Brad Allen

Trustee

Total calculated

$0

Hours/week

0
Beth Brown

Trustee

Total calculated

$0

Hours/week

0
Mike Gaines

Trustee

Total calculated

$0

Hours/week

0
Wayne Groce

Trustee

Total calculated

$0

Hours/week

0
Ramsey Hassan

Trustee

Total calculated

$0

Hours/week

0
Raiko Henderson

Trustee

Total calculated

$0

Hours/week

0
Sonya Adams Leeman

Trustee

Total calculated

$0

Hours/week

0
Chris Lynch

Trustee

Total calculated

$0

Hours/week

0
Shane McFarland

Trustee

Total calculated

$0

Hours/week

0
Judy Powell

Trustee

Total calculated

$0

Hours/week

0
Michael J Smith

Trustee

Total calculated

$0

Hours/week

0
Mike Ussery

Trustee

Total calculated

$0

Hours/week

0
John Ward

Trustee

Total calculated

$0

Hours/week

0
Hanna Witherspoon

Trustee

Total calculated

$0

Hours/week

0
Luther Wright

Trustee

Total calculated

$0

Hours/week

0
Ronald Roberts

President

Total calculated

$0

Hours/week

0
Brian Kidd

Vice President

Total calculated

$0

Hours/week

0
Richard Lewis

Secretaray

Total calculated

$0

Hours/week

0
Jill Austin

Treasurer

Total calculated

$0

Hours/week

0
William Bales

Vice President - Advancement

Total calculated

$247,000

From this org

$0

From related orgs

$247,000

Other

$0

Hours/week

55

Schedule J breakdown matched by us

Base

$0 + $247,000 related

Bonus

$0

Other

$0

Deferred

$0

Nontaxable benefits

$0

Filer's total

$0 + $247,000 related
Mark Clark

Executive Director - Development

Total calculated

$141,943

From this org

$0

From related orgs

$141,943

Other

$0

Hours/week

37.5

Schedule J breakdown matched by us

Base

$0 + $141,943 related

Bonus

$0

Other

$0

Deferred

$0

Nontaxable benefits

$0

Filer's total

$0 + $141,943 related
Rebecca Yates Young Harris

Trustee

Total calculated

$0

Hours/week

0
Bill Marbet

Trustee

Total calculated

$0

Hours/week

0
Beth O'Brien

Trustee

Total calculated

$0

Hours/week

0
Joe Steakley

Trustee

Total calculated

$0

Hours/week

0

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

1a · Discretionary spending account
1a · Health or social club dues or initiation fees
1b · Written policy on the line-1a expenses
2 · Substantiation required before reimbursing expenses

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

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

No itemized grants to organizations on this return.

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.

Middle Tennessee State University

501(C)(3) · Higher Education · TN

Provenance

Return type: form_990
Tax year: 2023
Filed: 15 November 2024
IRS schema version: 2023v5.1
Source object: 202423209349324952

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