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Nonprofiteer
← WICHITA STATE UNIVERSITY FOUNDATION

Form 990 for tax year 2023

Filed by WICHITA STATE UNIVERSITY FOUNDATION.

Totals

Total revenue
$38,045,602
Total expenses
$30,111,807
Contributions and grants received
$19,315,879
Grants paid
$7,947,202
Program service revenue
$0
Investment income
$16,315,325
Other revenue
$2,414,398
Total assets, end of year
$396,011,894
Total liabilities, end of year
$17,339,296
Net assets or fund balances, end of year
$378,672,598
Program services expenses (Part IX)
$21,022,244
Management and general expenses
$4,701,455
Fundraising expenses
$4,388,108
Program service expenses (Part III)
$21,022,244

Program services were 69.8% 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.

  • 1d · Related organizations

    $1,319,609

  • 1f · All other contributions, gifts and grants

    $17,996,270

  • 1g · Noncash contributions included above

    $1,636,914

  • 3 · Investment income

    total $3,655,473 · excluded $3,655,473

  • 7a · Gross sales of assets other than inventory

    securities $29,166,238

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

    securities $16,506,386

  • 7c · Gain or loss

    securities $12,659,852

  • 7d · Net gain or loss

    total $12,659,852 · related or exempt $12,659,852

  • 8a · Fundraising events: gross income

    $29,925

  • 8b · Fundraising events: direct expenses

    $49,596

  • 8c · Net income from fundraising events

    total -$19,671

  • 11a · Other revenue: OTHER INCOME

    total $1,636,604 · related or exempt $1,636,604

  • 11b · Other revenue: NGP NATURAL RESOURCES XI, LP

    total $590,557 · unrelated business $590,557

  • 11c · Other revenue: MAIZE AVENUE, INC

    total $195,717 · unrelated business $195,717

  • 11d · All other revenue

    total $11,191 · unrelated business $11,191

  • 11e · Other revenue, total

    $2,434,069

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $7,947,202 · program services $7,947,202

  • 5 · Compensation of officers, directors and key employees

    total $536,634 · program services $113,558 · management and general $247,458 · fundraising $175,618

  • 7 · Other salaries and wages

    total $4,554,343 · management and general $2,048,036 · fundraising $2,506,307

  • 9 · Other employee benefits

    total $1,112,641 · program services $24,818 · management and general $501,684 · fundraising $586,139

  • 10 · Payroll taxes

    total $345,181 · program services $7,700 · management and general $155,640 · fundraising $181,841

  • 11f · Fees: investment management

    total $299,884 · management and general $299,884

  • 22 · Depreciation, depletion and amortization

    total $23,534 · program services $23,534

  • 24a · Other expenses: UNIVERSITY SUPPORT

    total $14,883,740 · program services $12,673,491 · management and general $1,272,046 · fundraising $938,203

  • 24b · Other expenses: PROFESSIONAL FEES

    total $389,005 · program services $212,298 · management and general $176,707

  • 24c · Other expenses: GENERAL & ADMIN

    total $19,643 · program services $19,643

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $13,957,835 · end of year $12,146,773

  • 3 · Pledges and grants receivable

    beginning of year $14,236,388 · end of year $14,193,899

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

    $3,860,724

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

    $1,014,232

  • 10c · Land, buildings and equipment, net

    beginning of year $1,163,811 · end of year $2,846,492

  • 11 · Investments: publicly traded securities

    beginning of year $91,962,044 · end of year $98,025,302

  • 12 · Investments: other securities

    beginning of year $227,507,780 · end of year $242,589,566

  • 15 · Other assets

    beginning of year $25,507,858 · end of year $26,209,862

  • 17 · Accounts payable and accrued expenses

    beginning of year $16,001,941 · end of year $17,339,296

  • 27 · Net assets without donor restrictions

    beginning of year $17,834,133 · end of year $18,825,033

  • 28 · Net assets with donor restrictions

    beginning of year $340,499,642 · end of year $359,847,565

Mission and programs · 2023

Mission

THE WICHITA STATE UNIVERSITY FOUNDATION, AS THE PRIVATE FUND RAISING ORGANIZATION OF THE UNIVERSITY, SEEKS TO ADVANCE THE MISSION OF THE UNIVERSITY BY IDENTIFYING, CULTIVATING AND SOLICITING PRIVATE SUPPORT FROM INDIVIDUALS, CORPORATIONS AND FOUNDATIONS. PRIVATE CONTRIBUTIONS ARE NECESSARY TO SUPPORT THE PROGRAMS AND VISION OF THE UNIVERSITY. ITS PRIVATE STATUS ENSURES THE DONOR'S RIGHT OF ANONYMITY AND ITS ABILITY TO SUPPORT THE UNIVERSITY'S MISSION. THE FOUNDATION FURTHER SEEKS TO BUILD AND FOSTER RELATIONSHIPS WITH INTERNAL AND EXTERNAL CONSTITUENCIES, WHICH MUTUALLY BENEFIT THE UNIVERSITY, THE WICHITA COMMUNITY, AND THE STATE OF KANSAS.

Activities or mission (Part I)

FUNDRAISING FOR WSU AND MANAGING THE CONTRIBUTIONS, INVESTMENTS AND DISTRIBUTING SUPPORT TO WSU.

  • THE FOUNDATION AWARDS SCHOLARSHIPS TO STUDENTS FOR USE IN ATTENDING WICHITA STATE UNIVERSITY IN ACCORDANCE WITH PROVISIONS ESTABLISHED BY THE DONOR.

    Expenses $7,947,202 · Grants $7,947,202

  • THE FOUNDATION PROVIDES FOR FACULTY SALARY SUPPORT, DEPARTMENTAL OPERATING EXPENSES, AND BUILDING CONSTRUCTION AND MAINTENANCE IN ACCORDANCE WITH DONOR RESTRICTIONS.

    Expenses $13,075,042

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • ELIZABETH H KING

    PRESIDENT/CE

    Total calculated
    $504,937
    From this org
    $452,300
    From related orgs
    $0
    Other
    $52,637
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $379,171
    Bonus
    $70,000
    Other
    $3,129
    Deferred
    $38,237
    Nontaxable benefits
    $14,400
    Filer's total
    $504,937

  • SUSAN BARRETT

    VP OF FIN/OP

    Total calculated
    $241,964
    From this org
    $187,472
    From related orgs
    $0
    Other
    $54,492
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $186,893
    Bonus
    not reported
    Other
    $579
    Deferred
    $15,886
    Nontaxable benefits
    $38,606
    Filer's total
    $241,964

  • DARIN KATER

    VP OF DEVELO

    Total calculated
    $213,206
    From this org
    $175,491
    From related orgs
    $0
    Other
    $37,715
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $174,995
    Bonus
    not reported
    Other
    $496
    Deferred
    $14,875
    Nontaxable benefits
    $22,840
    Filer's total
    $213,206

  • J MICHAEL LAMB

    VP FOR PLANN

    Total calculated
    $203,011
    From this org
    $162,294
    From related orgs
    $0
    Other
    $40,717
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $161,356
    Bonus
    not reported
    Other
    $938
    Deferred
    $20,833
    Nontaxable benefits
    $19,884
    Filer's total
    $203,011

  • ANGELA DUDLEY

    ASSOCIATE VP

    Total calculated
    $146,709
    From this org
    $111,211
    From related orgs
    $0
    Other
    $35,498
    Hours/week
    40

  • LYNETTE MURPHY

    SR DEVELOPNM

    Total calculated
    $137,371
    From this org
    $101,198
    From related orgs
    $0
    Other
    $36,173
    Hours/week
    40

  • JESSIE RAINEY

    ASSOCIATE VP

    Total calculated
    $135,423
    From this org
    $106,405
    From related orgs
    $0
    Other
    $29,018
    Hours/week
    40

  • SHEILA KRUG

    ASSOCIATE VI

    Total calculated
    $122,599
    From this org
    $102,514
    From related orgs
    $0
    Other
    $20,085
    Hours/week
    40

  • NATHANIEL KOCH

    ASSOCIATE VP

    Total calculated
    $121,454
    From this org
    $106,236
    From related orgs
    $0
    Other
    $15,218
    Hours/week
    40

  • PAMELA AMMAR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DON BARRY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SUSAYN BRANDES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • WAYNE CHAMBERS

    AUDIT COMMIT

    Total calculated
    $0
    Hours/week
    5

  • JEFF DEGRAFFENREID

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JUNETTA EVERETT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MARK FINUCANE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KELLI HARRISON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SHADI MARCOS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • TELLY MCGAHA

    PRESIDENT/CE

    Total calculated
    $0
    Hours/week
    60

  • LYNN NICHOLS

    CHAIR

    Total calculated
    $0
    Hours/week
    10

  • MARILYN PAULY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DAN PEARE

    PAST BOARD C

    Total calculated
    $0
    Hours/week
    5

  • SHAWN PENNER

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • JOHN ROLFE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JAY SMITH

    CHAIR-ELECT

    Total calculated
    $0
    Hours/week
    10

  • MAGGIE TOPPING

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SHERYL WOHLFORD

    SECRETARY

    Total calculated
    $0
    Hours/week
    5

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

  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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.

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.

  • WSUF REAL ESTATE HOLDING LLC

    REAL ESTAT · KS

    Directly controlled by WSU FOUND

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.0
Source object
202443209349312104

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