Skip to content
Nonprofiteer
← WAYNE STATE FOUNDATION

Form 990 for tax year 2022

Filed by WAYNE STATE FOUNDATION.

Totals

Total revenue
$6,398,455
Total expenses
$5,803,578
Contributions and grants received
$4,969,137
Grants paid
$4,682,483
Program service revenue
$41,553
Investment income
$1,350,071
Other revenue
$37,694
Total assets, end of year
$41,078,964
Total liabilities, end of year
$260,481
Net assets or fund balances, end of year
$40,818,483
Program services expenses (Part IX)
$4,907,171
Management and general expenses
$437,849
Fundraising expenses
$458,558
Program service expenses (Part III)
$4,907,171

Program services were 84.6% 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

    $4,969,137

  • 1g · Noncash contributions included above

    $21,283

  • 2a · Program service revenue: ATHLETIC ACTIVITIES

    total $41,553 · related or exempt $41,553

  • 3 · Investment income

    total $1,350,071 · excluded $1,350,071

  • 6a · Gross rents

    real property $24,500

  • 6b · Less rental expenses

    real property $10,204

  • 6c · Rental income or loss

    real property $14,296

  • 6d · Net rental income or loss

    total $14,296 · excluded $14,296

  • 8a · Fundraising events: gross income

    $32,719

  • 8b · Fundraising events: direct expenses

    $13,051

  • 8c · Net income from fundraising events

    total $19,668 · excluded $19,668

  • 11a · Other revenue: MISCELLANEOUS

    total $3,730 · related or exempt $3,730

  • 11e · Other revenue, total

    $3,730

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $4,682,483 · program services $4,682,483

  • 5 · Compensation of officers, directors and key employees

    total $173,811 · program services $27,782 · management and general $72,923 · fundraising $73,106

  • 7 · Other salaries and wages

    total $450,386 · program services $71,054 · management and general $182,618 · fundraising $196,714

  • 8 · Pension plan contributions

    total $32,851 · program services $5,541 · management and general $15,754 · fundraising $11,556

  • 9 · Other employee benefits

    total $76,494 · program services $12,906 · management and general $36,687 · fundraising $26,901

  • 10 · Payroll taxes

    total $40,261 · program services $6,791 · management and general $19,307 · fundraising $14,163

  • 11b · Fees: legal

    total $670 · program services $670

  • 11c · Fees: accounting

    total $16,532 · management and general $16,532

  • 11f · Fees: investment management

    total $45,874 · management and general $45,874

  • 11g · Fees: other

    total $16,240 · fundraising $16,240

  • 14 · Information technology

    total $45,228 · management and general $20,101 · fundraising $25,127

  • 16 · Occupancy

    total $2,642 · program services $2,642

  • 17 · Travel

    total $62,387 · program services $15,098 · management and general $4,435 · fundraising $42,854

  • 22 · Depreciation, depletion and amortization

    total $4,625 · program services $4,625

  • 24a · Other expenses: COMMUNICATION & PUBLICA

    total $90,833 · program services $41,397 · management and general $2,141 · fundraising $47,295

  • 24b · Other expenses: OTHER

    total $55,136 · program services $32,251 · management and general $20,639 · fundraising $2,246

  • 24c · Other expenses: STAFF DEVELOPMENT

    total $3,841 · program services $647 · management and general $838 · fundraising $2,356

  • 24d · Other expenses: AMORTIZATION OF ANNUITY

    total $3,284 · program services $3,284

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,235,579 · end of year $2,743,397

  • 2 · Savings and temporary cash investments

    beginning of year $4,355,261 · end of year $3,680,510

  • 3 · Pledges and grants receivable

    beginning of year $1,674,399 · end of year $2,945,899

  • 9 · Prepaid expenses and deferred charges

    beginning of year $5,259 · end of year $2,403

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

    $287,027

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

    $6,160

  • 10c · Land, buildings and equipment, net

    beginning of year $425,042 · end of year $280,867

  • 11 · Investments: publicly traded securities

    beginning of year $28,505,711 · end of year $31,228,831

  • 12 · Investments: other securities

    beginning of year $108,989 · end of year $108,989

  • 15 · Other assets

    beginning of year $93,855 · end of year $88,068

  • 17 · Accounts payable and accrued expenses

    beginning of year $97,479 · end of year $157,518

  • 19 · Deferred revenue

    beginning of year $2,980 · end of year $6,270

  • 25 · Other liabilities

    beginning of year $110,390 · end of year $96,693

  • 27 · Net assets without donor restrictions

    beginning of year $3,797,402 · end of year $3,246,279

  • 28 · Net assets with donor restrictions

    beginning of year $34,395,844 · end of year $37,572,204

Mission and programs · 2022

Mission

TO AID, ASSIST & PROMOTE EDUCATION

  • TO AID, ASSIST, & PROMOTE EDUCATIONAL PROGRAMS, FACULTY, EMPLOYEES, AND STUDENTS BY GRANTING SCHOLARSHIPS, GRANTS, AND STUDENT LOANS AND COLLEGE SUPPORT FOR THE BENEFIT OF A PUBLIC COLLEGE

    Expenses $4,907,171 · Grants $4,682,483 · Revenue $45,283

As filed on the 2022 return.

Listed in Part VII

  • Brenda Carhart

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    0

  • Donald Koeber

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0

  • Bill Dickey

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    0

  • Leslie Bebee

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Brett Frevert

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Glenda Gallisath

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Matthew Ley

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Adrian Minks

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Randy Pedersen

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Carter Peterson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Bill Reeg

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Michael Riedmann

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Don Soukup

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Regg Swanson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Byron Schafersman

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Kevin Armstrong

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $132,101
    From this org
    $132,101
    From related orgs
    $0
    Other
    $0
    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

  • WAYNE STATE COLLEGE

    $4,679,983

    TO ASSIST IN THE OPERATIONS OF THE COLLEGE

Provenance

Return type
form_990
Tax year
2022
Filed
2 October 2023
IRS schema version
2022v5.0
Source object
202312849349300021

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.