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Nonprofiteer
← MICHIGAN STATE UNIVERSITY FOUNDATION

Form 990 for tax year 2023

Filed by MICHIGAN STATE UNIVERSITY FOUNDATION.

Totals

Total revenue
-$647,542
Total expenses
$0
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$10,000
Investment income
$9,253
Other revenue
-$666,795
Total assets, end of year
$10,224,379
Total liabilities, end of year
$11,733,616
Net assets or fund balances, end of year
-$1,509,237
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: MANAGEMENT FEE REVENUE

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

  • 3 · Investment income

    total $9,253 · excluded $9,253

  • 6a · Gross rents

    real property $2,422,003

  • 6b · Less rental expenses

    real property $3,090,008

  • 6c · Rental income or loss

    real property -$668,005

  • 6d · Net rental income or loss

    total -$668,005 · related or exempt -$668,005

  • 11a · Other revenue: MAINTENANCE

    total $1,210 · excluded $1,210

  • 11e · Other revenue, total

    $1,210

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $285,880 · end of year $222,283

  • 2 · Savings and temporary cash investments

    beginning of year $348,054 · end of year $129,800

  • 4 · Accounts receivable

    beginning of year $39,944 · end of year $78,359

  • 9 · Prepaid expenses and deferred charges

    beginning of year $9,570 · end of year $10,876

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

    $17,392,361

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

    $8,418,788

  • 10c · Land, buildings and equipment, net

    beginning of year $9,001,548 · end of year $8,973,573

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $1,300,045 · end of year $809,488

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,528,824 · end of year $10,901,652

  • 19 · Deferred revenue

    beginning of year $0 · end of year $1,456

  • 25 · Other liabilities

    beginning of year $1,317,912 · end of year $830,508

  • 27 · Net assets without donor restrictions

    beginning of year -$861,695 · end of year -$1,509,237

Mission and programs · 2023

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 2023 return.

Listed in Part VII

  • David Washburn

    PRESIDENT

    Total calculated
    $521,196
    From this org
    $0
    From related orgs
    $456,997
    Other
    $64,199
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $354,104 related
    Bonus
    $0 + $102,300 related
    Other
    $0 + $593 related
    Deferred
    $0 + $34,638 related
    Nontaxable benefits
    $0 + $29,561 related
    Filer's total
    $0 + $521,196 related

  • Jeffrey Degraaf

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.2 + 2 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
    $211,786
    From this org
    $0
    From related orgs
    $173,118
    Other
    $38,668
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $143,393 related
    Bonus
    $0 + $29,400 related
    Other
    $0 + $325 related
    Deferred
    $0 + $14,920 related
    Nontaxable benefits
    $0 + $23,748 related
    Filer's total
    $0 + $211,786 related

  • Jeff Smith

    DIRECTOR OF UCRP

    Total calculated
    $183,050
    From this org
    $145,351
    From related orgs
    $0
    Other
    $37,699
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $120,788
    Bonus
    $24,200
    Other
    $363
    Deferred
    $12,260
    Nontaxable benefits
    $25,439
    Filer's total
    $183,050

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 PRESIDENT: TO ESTABLISH COMPENSATION OF THE ORGANIZATION'S PRESIDENT, THE RELATED ORGANIZATION UTILIZES THE FOLLOWING: EXECUTIVE COMMITTEE, COMPARABILITY DATA, AN OUTSIDE COMPENSATION CONSULTING FIRM, AND APPROVAL 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
2023
Filed
14 May 2025
IRS schema version
2023v6.0
Source object
202541349349304159

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