Form 990 for tax year 2022
Filed by MONTANA STATE UNIVERSITY FOUNDATION.
Totals
- Total revenue
- $61,224,540
- Total expenses
- $29,360,325
- Contributions and grants received
- $47,608,471
- Grants paid
- $18,088,640
- Program service revenue
- $3,516,549
- Investment income
- $9,527,963
- Other revenue
- $571,557
- Total assets, end of year
- $379,099,449
- Total liabilities, end of year
- $20,938,414
- Net assets or fund balances, end of year
- $358,161,035
- Program services expenses (Part IX)
- $19,177,827
- Management and general expenses
- $5,967,626
- Fundraising expenses
- $4,214,872
- Program service expenses (Part III)
- $19,177,827
Program services were 65.3% 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
$47,608,471
-
1g · Noncash contributions included above
$14,076,112
-
2a · Program service revenue: CONTRACT FOR SERVICES
total $1,876,295 · related or exempt $1,876,295
-
2b · Program service revenue: SCHOLARSHIP INCOME
total $1,492,522 · related or exempt $1,492,522
-
2c · Program service revenue: ALUMNI RELATIONS PROGR
total $147,732 · related or exempt $147,732
-
3 · Investment income
total $5,649,167 · unrelated business $400,687 · excluded $5,248,480
-
5 · Royalties
total $181 · excluded $181
-
6a · Gross rents
real property $19,200
-
6b · Less rental expenses
real property $0
-
6c · Rental income or loss
real property $19,200
-
6d · Net rental income or loss
total $19,200 · excluded $19,200
-
7a · Gross sales of assets other than inventory
securities $26,835,622
-
7b · Less cost or other basis and sales expenses
securities $22,956,826
-
7c · Gain or loss
securities $3,878,796
-
7d · Net gain or loss
total $3,878,796 · excluded $3,878,796
-
8a · Fundraising events: gross income
$67,565
-
8b · Fundraising events: direct expenses
$53,312
-
8c · Net income from fundraising events
total $14,253 · excluded $14,253
-
11a · Other revenue: ADMINISTRATIVE FEES
total $234,595 · excluded $234,595
-
11b · Other revenue: INVEST INCOME - ATI
total $198,372 · excluded $198,372
-
11c · Other revenue: MISCELLANEOUS REVENUE
total $104,956 · excluded $104,956
-
11e · Other revenue, total
$537,923
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $18,088,640 · program services $18,088,640
-
5 · Compensation of officers, directors and key employees
total $691,417 · management and general $563,187 · fundraising $128,230
-
7 · Other salaries and wages
total $5,230,976 · program services $430,092 · management and general $2,502,837 · fundraising $2,298,047
-
8 · Pension plan contributions
total $372,158 · program services $28,463 · management and general $178,600 · fundraising $165,095
-
9 · Other employee benefits
total $855,163 · program services $73,385 · management and general $439,886 · fundraising $341,892
-
10 · Payroll taxes
total $462,372 · program services $35,153 · management and general $231,458 · fundraising $195,761
-
11b · Fees: legal
total $15,523 · management and general $8,879 · fundraising $6,644
-
11c · Fees: accounting
total $68,987 · management and general $68,987
-
11e · Fees: professional fundraising services
total $241,613 · fundraising $241,613
-
11f · Fees: investment management
total $5,491 · management and general $5,491
-
11g · Fees: other
total $286,975 · program services $7,203 · management and general $177,387 · fundraising $102,385
-
12 · Advertising and promotion
total $379,551 · program services $243,156 · management and general $26,239 · fundraising $110,156
-
13 · Office expenses
total $953,253 · program services $12,002 · management and general $906,883 · fundraising $34,368
-
14 · Information technology
total $520,698 · program services $6,204 · management and general $339,178 · fundraising $175,316
-
16 · Occupancy
total $181,382 · management and general $177,869 · fundraising $3,513
-
17 · Travel
total $261,906 · program services $51,794 · management and general $11,088 · fundraising $199,024
-
19 · Conferences, conventions and meetings
total $482,154 · program services $201,735 · management and general $67,591 · fundraising $212,828
-
20 · Interest
total $20,049 · management and general $20,049
-
22 · Depreciation, depletion and amortization
total $200,836 · management and general $200,836
-
23 · Insurance
total $41,181 · management and general $41,181
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $29,945 · end of year $35,427
-
2 · Savings and temporary cash investments
beginning of year $22,984,435 · end of year $31,437,666
-
3 · Pledges and grants receivable
beginning of year $16,125,815 · end of year $18,792,337
-
4 · Accounts receivable
beginning of year $78,696 · end of year $7,667
-
7 · Other notes and loans receivable
beginning of year $5,220,440 · end of year $5,615,245
-
9 · Prepaid expenses and deferred charges
beginning of year $683,960 · end of year $757,614
-
10a · Land, buildings and equipment: cost or other basis
$9,089,775
-
10b · Land, buildings and equipment: accumulated depreciation
$1,919,800
-
10c · Land, buildings and equipment, net
beginning of year $2,185,217 · end of year $7,169,975
-
11 · Investments: publicly traded securities
beginning of year $158,804,383 · end of year $177,575,204
-
12 · Investments: other securities
beginning of year $124,551,070 · end of year $137,894,468
-
13 · Investments: program-related
beginning of year -$660,800 · end of year -$462,427
-
15 · Other assets
beginning of year $289,148 · end of year $276,273
-
17 · Accounts payable and accrued expenses
beginning of year $1,302,561 · end of year $1,445,156
-
19 · Deferred revenue
beginning of year $617,199 · end of year $529,692
-
24 · Unsecured notes and loans payable
beginning of year $2,056,780 · end of year $2,193,990
-
25 · Other liabilities
beginning of year $16,406,287 · end of year $16,769,576
-
27 · Net assets without donor restrictions
beginning of year $13,107,775 · end of year $14,389,418
-
28 · Net assets with donor restrictions
beginning of year $296,801,707 · end of year $343,771,617
Mission and programs · 2022
Mission
WE CULTIVATE LIFELONG RELATIONSHIPS AND SECURE PRIVATE SUPPORT TO ADVANCE MONTANA STATE UNIVERSITY.
Activities or mission (Part I)
CULTIVATE LIFELONG RELATIONSHIPS AND SECURE PRIVATE SUPPORT TO ADVANCE MONTANA STATE UNIVERSITY.
-
MSUAF PROVIDED MONTANA STATE UNIVERSITY WITH PRIVATE DOLLARS TO ADVANCE ITS LAND-GRANT MISSION TO INTEGRATE EDUCATION, CREATE KNOWLEDGE AND ART, AND SERVICE COMMUNITIES. MSUAF PROVIDED $7.4 MILLION TO ENRICH INSTRUCTION, RESEARCH, AND PUBLIC SERVICE OF MONTANA STATE UNIVERSITY'S 16,688 STUDENTS AS WELL AS $2.4 MILLION TO CONSTRUCT AND EQUIP FACILITIES THAT ENHANCE THEIR RESEARCH AND LEARNING ENVIRONMENTS.
Expenses $9,838,590 · Grants $9,838,590 · Revenue $1,876,295
-
MSUAF PROVIDED 2,790 STUDENTS WITH SCHOLARSHIPS TO ATTEND MONTANA STATE UNIVERSITY. SCHOLARSHIPS ALLOWED THESE STUDENTS TO PURSUE ADVANCED EDUCATION, LESSENING THE BURDEN OF TUITION, HOUSING, AND FEES.
Expenses $8,250,050 · Grants $8,250,050 · Revenue $1,492,522
-
ALUMNI ENGAGEMENT CONNECTS OVER 240,000 CONTACTABLE ALUMNI AND FRIENDS OF MONTANA STATE UNIVERSITY THROUGH INCLUSIVE COMMUNICATIONS, EVENTS, AND AFFILIATE NETWORKS. ALUMNI (WHICH INCLUDED GRADUATES AND NONDEGREED ATTENDEES) AND FRIENDS (AFFILIATES, STAFF, FACULTY, DONORS, PARENTS OF CURRENT STUDENTS) RECEIVE REGULAR MSU NEWS, EVENTS, AND INVITATIONS TO CONNECT WITH MONTANA STATE AND ONE ANOTHER, LOCALLY, IN POPULUS TARGET REGIONS, AND IN CHAPTER AREAS AND ACROSS THE COUNTRY. OVER 270 EVENTS INCLUDING IN-PERSON AND HYBRID, BROUGHT PROGRAMS, MEANINGFUL EXPERIENCES AND UNIQUE OPPORTUNITIES TO ENGAGE WITH MSU, TO OVER 15,000 TRACKED ALUMNI,FRIENDS, SUPPORTERS AND FANS.
Expenses $1,089,187 · Revenue $147,732
As filed on the 2022 return.
Listed in Part VII
-
Greg CollinsGREG COLLINS
CHAIR
- Total calculated
- $0
- Hours/week
- 3.98
-
Mary Ann PearceMARY ANN PEARCE
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 2.65
-
Bill SandersonBILL SANDERSON
SECRETARY/TREASURER
- Total calculated
- $0
- Hours/week
- 3.58
-
Steve RovigSTEVE ROVIG
PAST CHAIR
- Total calculated
- $0
- Hours/week
- 0.77
-
Ron AasheimRON AASHEIM
GOVERNOR
- Total calculated
- $0
- Hours/week
- 0.77
-
Behrooz AbdiBEHROOZ ABDI
GOVERNOR
- Total calculated
- $0
- Hours/week
- 0.77
-
Norman AsbjornsonNORMAN ASBJORNSON
GOVERNOR
- Total calculated
- $0
- Hours/week
- 0.77
-
Mark BacigalupoMARK BACIGALUPO
GOVERNOR
- Total calculated
- $0
- Hours/week
- 0.77
-
Frank BeneventoFRANK BENEVENTO
GOVERNOR
- Total calculated
- $0
- Hours/week
- 0.77
-
Don Cape JrDON CAPE JR
GOVERNOR
- Total calculated
- $0
- Hours/week
- 0.77
-
Ingrid DegreefINGRID DEGREEF
GOVERNOR
- Total calculated
- $0
- Hours/week
- 0.77
-
Don GimbelDON GIMBEL
GOVERNOR
- Total calculated
- $0
- Hours/week
- 0.77
-
Denise JuneauDENISE JUNEAU
GOVERNOR
- Total calculated
- $0
- Hours/week
- 0.77
-
Wes KremerWES KREMER
GOVERNOR
- Total calculated
- $0
- Hours/week
- 0.77
-
Ron LewisRON LEWIS
GOVERNOR
- Total calculated
- $0
- Hours/week
- 0.77
-
Chris LofgrenCHRIS LOFGREN
GOVERNOR
- Total calculated
- $0
- Hours/week
- 0.77
-
Heidi McLoughlinHEIDI MCLOUGHLIN
GOVERNOR
- Total calculated
- $0
- Hours/week
- 0.77
-
Risa ScottRISA SCOTT
GOVERNOR
- Total calculated
- $0
- Hours/week
- 0.77
-
Nancy SeleskiNANCY SELESKI
GOVERNOR
- Total calculated
- $0
- Hours/week
- 0.77
-
Walter SmithWALTER SMITH
GOVERNOR
- Total calculated
- $0
- Hours/week
- 0.77 + 0.2 related
-
Ginny SullivanGINNY SULLIVAN
GOVERNOR
- Total calculated
- $0
- Hours/week
- 0.77
-
Andrew WilcoxANDREW WILCOX
GOVERNOR
- Total calculated
- $0
- Hours/week
- 0.77
-
Christopher MurrayCHRISTOPHER MURRAY
PRESIDENT & CEO THRU 2/23
- Total calculated
- $366,220
- From this org
- $317,272
- From related orgs
- $0
- Other
- $48,948
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $274,556
- Bonus
- $35,000
- Other
- $7,716
- Deferred
- $22,203
- Nontaxable benefits
- $26,745
- Filer's total
- $366,220
-
Melissa KinnearMELISSA KINNEAR
VP FINANCE & ACCTG
- Total calculated
- $178,418
- From this org
- $153,449
- From related orgs
- $0
- Other
- $24,969
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $146,549
- Bonus
- $6,000
- Other
- $900
- Deferred
- $10,678
- Nontaxable benefits
- $14,291
- Filer's total
- $178,418
-
Mary Jane McGarityMARY JANE MCGARITY
VP DEV. / INTERIM CEO AS OF 2/23
- Total calculated
- $152,473
- From this org
- $132,204
- From related orgs
- $0
- Other
- $20,269
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $125,304
- Bonus
- $6,000
- Other
- $900
- Deferred
- $9,191
- Nontaxable benefits
- $11,078
- Filer's total
- $152,473
-
Kathleen SaylorKATHLEEN SAYLOR
VP OPERATIONS
- Total calculated
- $162,848
- From this org
- $142,417
- From related orgs
- $0
- Other
- $20,431
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $137,517
- Bonus
- $4,000
- Other
- $900
- Deferred
- $9,906
- Nontaxable benefits
- $10,525
- Filer's total
- $162,848
-
Jackie SatherJACKIE SATHER
SR DEV DIRECTOR
- Total calculated
- $149,073
- From this org
- $123,610
- From related orgs
- $0
- Other
- $25,463
- Hours/week
- 40
-
Shannon SchumacherSHANNON SCHUMACHER
ASSOC. VP DEVELOPMENT
- Total calculated
- $141,253
- From this org
- $118,715
- From related orgs
- $0
- Other
- $22,538
- Hours/week
- 40
-
Neal ZandonellaNEAL ZANDONELLA
VP INFORMATION TECH
- Total calculated
- $152,729
- From this org
- $120,964
- From related orgs
- $0
- Other
- $31,765
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $115,064
- Bonus
- $5,000
- Other
- $900
- Deferred
- $8,708
- Nontaxable benefits
- $23,057
- Filer's total
- $152,729
-
Kevin BrownKEVIN BROWN
ASSOC. VP PLANNED GIVING
- Total calculated
- $149,329
- From this org
- $118,304
- From related orgs
- $0
- Other
- $31,025
- 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. 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 · Health or social club dues or initiation fees
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Compensation committee
- 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
The filer's explanations (Part III)
- PART I, LINE 1B
- SOCIAL CLUB DUES ARE PAID FOR INDIVIDUALS WHO NEED TO ENTERTAIN FOR FUNDRAISING PURPOSES. CHRISTOPHER MURRAY RECEIVED $6,816 OF SOCIAL CLUB DUES THAT WERE INCLUDED IN TAXABLE COMPENSATION.
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
-
$18,031,089
SCHOLARSHIPS TO MONTANA STATE UNIVERSITY STUDENTS AND PROGRAM SUPPORT
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.
-
MSU INNOVATION CAMPUS
501(C)(3) · REAL ESTATE · MT · controlled entity
Directly controlled by MSU FOUNDATION
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.
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
ADVANCED TECHNOLOGY INC
C · REAL ESTATE · MT · 100% owned · share of income $336,356 · share of assets $1,750,891 · controlled entity
Directly controlled by MSU FOUNDATION
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 31 January 2024
- IRS schema version
- 2022v5.0
- Source object
- 202411039349301726
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.