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Nonprofiteer
← MICHIGAN STATE UNIVERSITY FOUNDATION

Form 990 for tax year 2022

Filed by MICHIGAN STATE UNIVERSITY FOUNDATION.

Totals

Total revenue
-$602,196
Total expenses
$0
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$22,921
Investment income
$10,849
Other revenue
-$635,966
Total assets, end of year
$10,985,041
Total liabilities, end of year
$11,846,736
Net assets or fund balances, end of year
-$861,695
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

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.

  • 2a · Program service revenue: SPONSORSHIP

    total $12,921 · related or exempt $12,921

  • 2b · Program service revenue: MANAGEMENT FEE REVENUE

    total $10,000 · related or exempt $10,000

  • 3 · Investment income

    total $10,849 · excluded $10,849

  • 6a · Gross rents

    real property $2,248,535

  • 6b · Less rental expenses

    real property $2,893,327

  • 6c · Rental income or loss

    real property -$644,792

  • 6d · Net rental income or loss

    total -$644,792 · related or exempt -$644,792

  • 11a · Other revenue: MAINTENANCE

    total $4,646 · excluded $4,646

  • 11b · Other revenue: INSURANCE PROCEEDS

    total $4,180 · excluded $4,180

  • 11e · Other revenue, total

    $8,826

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $112,602 · end of year $285,880

  • 2 · Savings and temporary cash investments

    beginning of year $778,773 · end of year $348,054

  • 4 · Accounts receivable

    beginning of year $188,139 · end of year $39,944

  • 9 · Prepaid expenses and deferred charges

    beginning of year $7,459 · end of year $9,570

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

    $16,621,860

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

    $7,620,312

  • 10c · Land, buildings and equipment, net

    beginning of year $9,089,339 · end of year $9,001,548

  • 15 · Other assets

    beginning of year $0 · end of year $1,300,045

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,426,171 · end of year $10,528,824

  • 19 · Deferred revenue

    beginning of year $9,640 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $1,317,912

  • 27 · Net assets without donor restrictions

    beginning of year -$259,499 · end of year -$861,695

Mission and programs · 2022

Mission

TO HOLD TITLE AND PERFORM RELATED FUNCTIONS IN CONNECTION WITH A RESEARCH PARK AND INNOVATION CENTER IN SUPPORT OF MICHIGAN STATE UNIVERSITY RESEARCH FOUNDATION.

Activities or mission (Part I)

TO HOLD TITLE AND PERFORM RELATED FUNCTIONS IN CONNECTION WITH A RESEARCH (CONTINUED IN SCH O)PARK AND INNOVATION CENTER IN SUPPORT OF MICHIGAN STATE UNIVERSITY RESEARCH FOUNDATION.

  • TO HOLD TITLE AND PERFORM RELATED FUNCTIONS IN CONNECTION WITH A RESEARCH PARK AND INNOVATION CENTER IN SUPPORT OF MICHIGAN STATE UNIVERSITY RESEARCH FOUNDATION.

As filed on the 2022 return.

Listed in Part VII

  • David Washburn

    PRESIDENT

    Total calculated
    $448,827
    From this org
    $0
    From related orgs
    $390,197
    Other
    $58,630
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $333,669 related
    Bonus
    $0 + $54,750 related
    Other
    $0 + $1,778 related
    Deferred
    $0 + $33,313 related
    Nontaxable benefits
    $0 + $25,317 related
    Filer's total
    $0 + $448,827 related

  • Randolph Cowen

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.2 + 2 related

  • John Phillips

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.2 + 2 related

  • Rebekah Skrzyniarz

    DIRECTOR OF FINANCE

    Total calculated
    $194,425
    From this org
    $0
    From related orgs
    $159,456
    Other
    $34,969
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $137,481 related
    Bonus
    $0 + $21,000 related
    Other
    $0 + $975 related
    Deferred
    $0 + $14,350 related
    Nontaxable benefits
    $0 + $20,619 related
    Filer's total
    $0 + $194,425 related

  • Jeff Smith

    DIRECTOR OF UCRP

    Total calculated
    $167,377
    From this org
    $133,684
    From related orgs
    $0
    Other
    $33,693
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $115,378
    Bonus
    $17,250
    Other
    $1,056
    Deferred
    $11,790
    Nontaxable benefits
    $21,903
    Filer's total
    $167,377

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

The filer's explanations (Part III)

PART I, LINE 3
METHODS USED TO ESTABLISH COMPENSATION OF CEO/EXECUTIVE DIRECTOR: TO ESTABLISH COMPENSATION OF THE ORGANIZATION'S CEO/EXECUTIVE DIRECTOR, THE COMPARABILITY DATA, AN OUTSIDE COMPENSATION CONSULTING FIRM, AND APPROVAL RELATED ORGANIZATION UTILIZES THE FOLLOWING: EXECUTIVE COMMITTEE, BY THE BOARD OR EXECUTIVE COMMITTEE.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202421369349308657

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