Form 990 for tax year 2023
Filed by UNIVERSITY OF SOUTHERN INDIANA FOUNDATION INC.
Totals
- Total revenue
- $11,292,232
- Total expenses
- $8,541,265
- Contributions and grants received
- $6,452,486
- Grants paid
- $7,244,693
- Program service revenue
- $0
- Investment income
- $4,723,317
- Other revenue
- $116,429
- Total assets, end of year
- $204,992,494
- Total liabilities, end of year
- $3,641,648
- Net assets or fund balances, end of year
- $201,350,846
- Program services expenses (Part IX)
- $7,335,202
- Management and general expenses
- $1,071,130
- Fundraising expenses
- $134,933
- Program service expenses (Part III)
- $7,335,202
Program services were 85.9% 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.
-
1a · Federated campaigns
$0
-
1b · Membership dues
$0
-
1c · Fundraising events
$42,237
-
1d · Related organizations
$0
-
1e · Government grants (contributions)
$277,317
-
1f · All other contributions, gifts and grants
$6,132,932
-
1g · Noncash contributions included above
$63,952
-
3 · Investment income
total $3,964,598 · related or exempt $3,964,598 · unrelated business $0 · excluded $0
-
4 · Income from investment of tax-exempt bond proceeds
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
5 · Royalties
total $14,261 · related or exempt $14,261 · unrelated business $0 · excluded $0
-
6a · Gross rents
real property $96,256 · personal property $0
-
6b · Less rental expenses
real property $103,105 · personal property $0
-
6c · Rental income or loss
real property -$6,849 · personal property $0
-
6d · Net rental income or loss
total -$6,849 · related or exempt -$6,849 · unrelated business $0 · excluded $0
-
7a · Gross sales of assets other than inventory
securities $41,366,386 · other assets $0
-
7b · Less cost or other basis and sales expenses
securities $40,607,667 · other assets $0
-
7c · Gain or loss
securities $758,719 · other assets $0
-
7d · Net gain or loss
total $758,719 · related or exempt $758,719 · unrelated business $0 · excluded $0
-
8a · Fundraising events: gross income
$131,872
-
8a · Fundraising events: contributions included on line 1c
$42,237
-
8b · Fundraising events: direct expenses
$96,456
-
8c · Net income from fundraising events
total $35,416 · unrelated business $0 · excluded $35,416
-
9a · Gaming: gross income
$0
-
9b · Gaming: direct expenses
$0
-
9c · Net income from gaming
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
10a · Gross sales of inventory
$0
-
10b · Cost of goods sold
$0
-
10c · Net income from sales of inventory
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
11a · Other revenue: License Plate Revenue
total $34,050 · related or exempt $34,050 · unrelated business $0 · excluded $0
-
11b · Other revenue: Reimbursements
total $27,565 · related or exempt $27,565 · unrelated business $0 · excluded $0
-
11c · Other revenue: Premiums Income
total $9,750 · related or exempt $9,750 · unrelated business $0 · excluded $0
-
11d · All other revenue
total $2,236 · related or exempt $2,236 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$73,601
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $7,244,693 · program services $7,244,693
-
2 · Grants to domestic individuals
total $0 · program services $0
-
3 · Grants to foreign organizations and individuals
total $0 · program services $0
-
4 · Benefits paid to or for members
total $0 · program services $0
-
5 · Compensation of officers, directors and key employees
total $0 · program services $0 · management and general $0 · fundraising $0
-
6 · Compensation of disqualified persons
total $0 · program services $0 · management and general $0 · fundraising $0
-
7 · Other salaries and wages
total $0 · program services $0 · management and general $0 · fundraising $0
-
8 · Pension plan contributions
total $0 · program services $0 · management and general $0 · fundraising $0
-
9 · Other employee benefits
total $0 · program services $0 · management and general $0 · fundraising $0
-
10 · Payroll taxes
total $0 · program services $0 · management and general $0 · fundraising $0
-
11a · Fees: management
total $0 · program services $0 · management and general $0 · fundraising $0
-
11b · Fees: legal
total $20,511 · program services $0 · management and general $20,511 · fundraising $0
-
11c · Fees: accounting
total $63,102 · program services $0 · management and general $63,102 · fundraising $0
-
11d · Fees: lobbying
total $0 · program services $0 · management and general $0 · fundraising $0
-
11e · Fees: professional fundraising services
total $0 · fundraising $0
-
11f · Fees: investment management
total $214,318 · program services $0 · management and general $214,318 · fundraising $0
-
11g · Fees: other
total $124,059 · program services $0 · management and general $109,128 · fundraising $14,931
-
12 · Advertising and promotion
total $37,022 · program services $196 · management and general $0 · fundraising $36,826
-
13 · Office expenses
total $0 · program services $0 · management and general $0 · fundraising $0
-
14 · Information technology
total $0 · program services $0 · management and general $0 · fundraising $0
-
15 · Royalties
total $0 · program services $0 · management and general $0 · fundraising $0
-
16 · Occupancy
total $0 · program services $0 · management and general $0 · fundraising $0
-
17 · Travel
total $0 · program services $0 · management and general $0 · fundraising $0
-
18 · Travel or entertainment for public officials
total $0 · program services $0 · management and general $0 · fundraising $0
-
19 · Conferences, conventions and meetings
total $12,447 · program services $0 · management and general $11,836 · fundraising $611
-
20 · Interest
total $0 · program services $0 · management and general $0 · fundraising $0
-
21 · Payments to affiliates
total $0 · program services $0 · management and general $0 · fundraising $0
-
22 · Depreciation, depletion and amortization
total $2,387 · program services $0 · management and general $2,387 · fundraising $0
-
23 · Insurance
total $6,746 · program services $2,817 · management and general $3,929 · fundraising $0
-
24a · Other expenses: Administrative Service Expense to USI
total $620,400 · program services $0 · management and general $620,400 · fundraising $0
-
24b · Other expenses: Donor Recognition/Relations/Cultivation
total $74,748 · program services $0 · management and general $0 · fundraising $74,748
-
24c · Other expenses: University Relations
total $63,254 · program services $63,254 · management and general $0 · fundraising $0
-
24d · Other expenses: Special Events
total $23,535 · program services $23,535 · management and general $0 · fundraising $0
-
24e · All other expenses
total $34,043 · program services $707 · management and general $25,519 · fundraising $7,817
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $0 · end of year $0
-
2 · Savings and temporary cash investments
beginning of year $1,272,743 · end of year $1,373,184
-
3 · Pledges and grants receivable
beginning of year $5,747,515 · end of year $5,265,993
-
4 · Accounts receivable
beginning of year $166,844 · end of year $192,284
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $0 · end of year $0
-
8 · Inventories for sale or use
beginning of year $0 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $1,185 · end of year $1,245
-
10a · Land, buildings and equipment: cost or other basis
$3,770,009
-
10b · Land, buildings and equipment: accumulated depreciation
$725,361
-
10c · Land, buildings and equipment, net
beginning of year $3,057,805 · end of year $3,044,648
-
11 · Investments: publicly traded securities
beginning of year $162,726,450 · end of year $186,777,925
-
12 · Investments: other securities
beginning of year $7,137,533 · end of year $7,784,456
-
13 · Investments: program-related
beginning of year $0 · end of year $0
-
14 · Intangible assets
beginning of year $0 · end of year $0
-
15 · Other assets
beginning of year $536,780 · end of year $552,759
-
17 · Accounts payable and accrued expenses
beginning of year $59,305 · end of year $59,291
-
18 · Grants payable
beginning of year $0 · end of year $0
-
19 · Deferred revenue
beginning of year $6,454 · end of year $4,324
-
20 · Tax-exempt bond liabilities
beginning of year $0 · end of year $0
-
21 · Escrow or custodial account liability
beginning of year $0 · end of year $0
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
23 · Secured mortgages and notes payable
beginning of year $0 · end of year $0
-
24 · Unsecured notes and loans payable
beginning of year $0 · end of year $0
-
25 · Other liabilities
beginning of year $1,772,043 · end of year $3,578,033
-
27 · Net assets without donor restrictions
beginning of year $19,888,591 · end of year $22,172,540
-
28 · Net assets with donor restrictions
beginning of year $158,920,462 · end of year $179,178,306
Mission and programs · 2023
Mission
The USI Foundation's mission is to attract, acquire, and manage donors' charitable gifts to support and sustain the goals of the University of Southern Indiana.
-
The USI Foundation provides scholarships and awards to students enrolled at the University of Southern Indiana. Approximately 1,900 scholarships and awards were provided to students during the current fiscal year.
Expenses $3,367,621 · Grants $3,367,191
-
The USI Foundation provides other various support to the University of Southern Indiana including support for the Alumni Association, Athletics, Historic New Harmony, and other various initiatives.
Expenses $2,233,614 · Grants $2,162,325
-
The USI Foundation provides educational and academic enhancements directly to the University of Southern Indiana. This includes faculty enhancement initiatives, faculty research award stipends, and direct funding for academic departments.
Expenses $1,693,567 · Grants $1,674,777
-
The USI Foundation provides support for community outreach initiatives artwork acquisitions of the University of Southern Indiana.
Expenses $40,400 · Grants $40,400
As filed on the 2023 return.
Listed in Part VII
-
Ronald S Rochon
Director/Admin Advisor
- Total calculated
- $479,464
- From this org
- $0
- From related orgs
- $424,393
- Other
- $55,071
- Hours/week
- 2 + 35.5 related
Schedule J breakdown matched by us
- Base
- $0 + $424,393 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $35,259 related
- Nontaxable benefits
- $0 + $19,812 related
- Filer's total
- $0 + $479,464 related
-
Steven J Bridges
Director/Assistant Treasurer
- Total calculated
- $254,059
- From this org
- $0
- From related orgs
- $214,974
- Other
- $39,085
- Hours/week
- 2 + 35.5 related
Schedule J breakdown matched by us
- Base
- $0 + $214,974 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $23,341 related
- Nontaxable benefits
- $0 + $15,744 related
- Filer's total
- $0 + $254,059 related
-
Shelly B Blunt
Director
- Total calculated
- $236,692
- From this org
- $0
- From related orgs
- $193,166
- Other
- $43,526
- Hours/week
- 2 + 35.5 related
Schedule J breakdown matched by us
- Base
- $0 + $193,166 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $22,022 related
- Nontaxable benefits
- $0 + $21,504 related
- Filer's total
- $0 + $236,692 related
-
Kindra L Strupp
Director
- Total calculated
- $184,708
- From this org
- $0
- From related orgs
- $148,327
- Other
- $36,381
- Hours/week
- 2 + 35.5 related
Schedule J breakdown matched by us
- Base
- $0 + $148,327 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $16,005 related
- Nontaxable benefits
- $0 + $20,376 related
- Filer's total
- $0 + $184,708 related
-
David A Bower
President
- Total calculated
- $178,765
- From this org
- $0
- From related orgs
- $147,143
- Other
- $31,622
- Hours/week
- 18.75 + 18.75 related
Schedule J breakdown matched by us
- Base
- $0 + $147,143 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $15,943 related
- Nontaxable benefits
- $0 + $15,679 related
- Filer's total
- $0 + $178,765 related
-
William Elliott
Director
- Total calculated
- $169,907
- From this org
- $0
- From related orgs
- $142,015
- Other
- $27,892
- Hours/week
- 2 + 35.5 related
-
Sliva Rode
Director
- Total calculated
- $119,519
- From this org
- $0
- From related orgs
- $96,335
- Other
- $23,184
- Hours/week
- 2 + 35.5 related
-
Terry Alvey
Director
- Total calculated
- $0
- Hours/week
- 2
-
Bruce H Baker
Life Director
- Total calculated
- $0
- Hours/week
- 2
-
Carol A Baker
Life Director
- Total calculated
- $0
- Hours/week
- 2
-
Joey V Barnett
Director
- Total calculated
- $0
- Hours/week
- 2
-
Jennifer K Bartek
Director
- Total calculated
- $0
- Hours/week
- 2
-
Amy L Beard
Director
- Total calculated
- $0
- Hours/week
- 2
-
James W Beck
Director
- Total calculated
- $0
- Hours/week
- 2
-
Jeffrey A Berger
Director
- Total calculated
- $0
- Hours/week
- 2
-
Ronald J Boren
Director
- Total calculated
- $0
- Hours/week
- 2
-
Bix Branson
Life Director
- Total calculated
- $0
- Hours/week
- 2
-
Mark D Browning
Director
- Total calculated
- $0
- Hours/week
- 2
-
Stephanie S Buchanan
Director
- Total calculated
- $0
- Hours/week
- 2
-
Marie A Bussing
Life Director
- Total calculated
- $0
- Hours/week
- 2
-
Vicki T Campbell
Director
- Total calculated
- $0
- Hours/week
- 2
-
Don R Chaudoin
Life Director
- Total calculated
- $0
- Hours/week
- 2
-
Liam Collins
Director
- Total calculated
- $0
- Hours/week
- 2
-
Stephen W Craven
Director
- Total calculated
- $0
- Hours/week
- 2
-
Joyce E Donaldson
Director
- Total calculated
- $0
- Hours/week
- 2
-
John M Dunn
Life Director
- Total calculated
- $0
- Hours/week
- 2
-
Kevin M Eastridge
Life Director
- Total calculated
- $0
- Hours/week
- 2
-
Daniel M Fuquay
Life Director
- Total calculated
- $0
- Hours/week
- 2
-
Geoffrey A Gentil
Director
- Total calculated
- $0
- Hours/week
- 2
-
Robert L Goocher
Life Director
- Total calculated
- $0
- Hours/week
- 2
-
Robert E Griffin
Life Director
- Total calculated
- $0
- Hours/week
- 2
-
Randall L Haaff
Director
- Total calculated
- $0
- Hours/week
- 2
-
Jingle Igleheart Hagey
Director
- Total calculated
- $0
- Hours/week
- 2
-
Fouad L Hamami
Director
- Total calculated
- $0
- Hours/week
- 2
-
Kevin L Hammet
Director
- Total calculated
- $0
- Hours/week
- 2
-
David W Herrenbruck
Life Director
- Total calculated
- $0
- Hours/week
- 2
-
Chad Horrell
Director
- Total calculated
- $0
- Hours/week
- 2
-
D Keith Jewell
Director
- Total calculated
- $0
- Hours/week
- 2
-
Christine H Keck
Director
- Total calculated
- $0
- Hours/week
- 2
-
Anne Kiboi
Director
- Total calculated
- $0
- Hours/week
- 2
-
M Andy Lannert
Director
- Total calculated
- $0
- Hours/week
- 2
-
Frank F McDonald II
Life Director
- Total calculated
- $0
- Hours/week
- 2
-
James R McKinney
Life Director
- Total calculated
- $0
- Hours/week
- 2
-
Ira T Neal
Life Director
- Total calculated
- $0
- Hours/week
- 2
-
Joseph Neidig
Director
- Total calculated
- $0
- Hours/week
- 2
-
Mark E Neidig
Life Director
- Total calculated
- $0
- Hours/week
- 2
-
D Patrick O'Daniel
Life Director
- Total calculated
- $0
- Hours/week
- 2
-
Susan E Parsons
Director
- Total calculated
- $0
- Hours/week
- 2
-
Jack D Pate
Director
- Total calculated
- $0
- Hours/week
- 2
-
Matthew Reffett
Director
- Total calculated
- $0
- Hours/week
- 2
-
Robert L Reid
Director
- Total calculated
- $0
- Hours/week
- 2
-
Ashley K Riordan-Elpers
Director
- Total calculated
- $0
- Hours/week
- 2
-
David K Robinson
Director
- Total calculated
- $0
- Hours/week
- 2
-
Michael F Roeder
Director
- Total calculated
- $0
- Hours/week
- 2
-
Ronald D Romain
Life Director
- Total calculated
- $0
- Hours/week
- 2
-
Chris M Ryan
Director
- Total calculated
- $0
- Hours/week
- 2
-
Jim Sandgren
Director
- Total calculated
- $0
- Hours/week
- 2
-
D Scott Saxe
Director
- Total calculated
- $0
- Hours/week
- 2
-
John L Schutz
Director
- Total calculated
- $0
- Hours/week
- 2
-
Jaimie Sheth
Director
- Total calculated
- $0
- Hours/week
- 2
-
Alan N Shovers
Life Director
- Total calculated
- $0
- Hours/week
- 2
-
Sherrianne M Standley
Life Director
- Total calculated
- $0
- Hours/week
- 2
-
Judith M Steenberg
Life Director
- Total calculated
- $0
- Hours/week
- 2
-
Ronald W Steinhart
Director
- Total calculated
- $0
- Hours/week
- 2
-
Trudy J Stock
Director
- Total calculated
- $0
- Hours/week
- 2
-
Robert W Swan
Life Director
- Total calculated
- $0
- Hours/week
- 2
-
Celeste Drew Tabor
Director
- Total calculated
- $0
- Hours/week
- 2
-
Kathleen E Talley
Director
- Total calculated
- $0
- Hours/week
- 2
-
Karen S Walker
Director
- Total calculated
- $0
- Hours/week
- 2
-
Amy L Wilson
Director
- Total calculated
- $0
- Hours/week
- 2
-
Donita F Wolf
Director
- Total calculated
- $0
- Hours/week
- 2
-
Jean M Blanton
Director/Chair Elect
- Total calculated
- $0
- Hours/week
- 2
-
Neal A Franklin
Director/Vice Chair for Planning
- Total calculated
- $0
- Hours/week
- 2
-
Shiela L Huff-Jackson
Director/Secretary
- Total calculated
- $0
- Hours/week
- 2
-
C Wayne Kinney
Director/Vice Chair for Development
- Total calculated
- $0
- Hours/week
- 2
-
Chris D Melton
Life Director/Treasurer
- Total calculated
- $0
- Hours/week
- 2
-
Melanie N Rasche
Director/Vice Chair for Alumni
- Total calculated
- $0
- Hours/week
- 2
-
Jeffrey L Wilmes
Director/Chair
- Total calculated
- $0
- Hours/week
- 2
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
- 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
-
University of Southern Indiana
$7,227,138
The USI Foundation provides support to the University of Southern Indiana for Scholarships, Educational and Academic Enhancements, Athletics, Other University Support, Artwork Acquisitions, and Community Outreach Programs.
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.
-
University of Southern Indiana
Higher Education · IN
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.
-
Southern Indiana Higher Education
Real Estate · IN · income $50,140 · assets $3,400,011
Directly controlled by USI Foundation
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 27 March 2025
- IRS schema version
- 2023v6.0
- Source object
- 202540869349301129
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