Form 990 for tax year 2022

Filed by MURRAY STATE COLLEGE FOUNDATION INC.

Totals

Total revenue: $167,474
Total expenses: $440,481
Contributions and grants received: $317,420
Grants paid: $78,002
Program service revenue: $240,907
Investment income: -$404,367
Other revenue: $13,514
Total assets, end of year: $7,144,136
Total liabilities, end of year: $3,115,289
Net assets or fund balances, end of year: $4,028,847
Program services expenses (Part IX): $312,050
Management and general expenses: $128,431
Fundraising expenses: $0
Program service expenses (Part III): $312,050

Program services were 70.8% 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

$317,420
2a · Program service revenue: STUDENT DORM RENTAL INCOME

total $240,907 · related or exempt $240,907
3 · Investment income

total $97,418 · excluded $97,418
7a · Gross sales of assets other than inventory

securities $159,829
7b · Less cost or other basis and sales expenses

securities $661,614
7c · Gain or loss

securities -$501,785
7d · Net gain or loss

total -$501,785 · excluded -$501,785
11a · Other revenue: MISCELLANEOUS

total $13,514 · excluded $13,514
11e · Other revenue, total

$13,514

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $78,002 · program services $78,002
11b · Fees: legal

total $168 · management and general $168
11c · Fees: accounting

total $20,344 · management and general $20,344
11d · Fees: lobbying

total $18,000 · management and general $18,000
11f · Fees: investment management

total $20,562 · management and general $20,562
13 · Office expenses

total $11,776 · management and general $11,776
16 · Occupancy

total $6,419 · management and general $6,419
17 · Travel

total $4,100 · management and general $4,100
20 · Interest

total $139,596 · program services $139,596
22 · Depreciation, depletion and amortization

total $94,452 · program services $94,452
23 · Insurance

total $2,062 · management and general $2,062
24a · Other expenses: ADMINISTRATIVE

total $45,000 · management and general $45,000

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $355,057 · end of year $157,917
2 · Savings and temporary cash investments

beginning of year $121,696 · end of year $365,863
3 · Pledges and grants receivable

beginning of year $24,648 · end of year $770
4 · Accounts receivable

end of year $1,877
10a · Land, buildings and equipment: cost or other basis

$4,572,884
10b · Land, buildings and equipment: accumulated depreciation

$1,927,631
10c · Land, buildings and equipment, net

beginning of year $2,695,705 · end of year $2,645,253
11 · Investments: publicly traded securities

beginning of year $3,295,332 · end of year $3,829,370
13 · Investments: program-related

beginning of year $143,036 · end of year $143,086
23 · Secured mortgages and notes payable

beginning of year $3,190,771 · end of year $3,112,959
25 · Other liabilities

beginning of year $13,637 · end of year $2,330
27 · Net assets without donor restrictions

beginning of year -$555,323 · end of year -$617,085
28 · Net assets with donor restrictions

beginning of year $3,986,389 · end of year $4,645,932

Mission and programs · 2022

Mission

TO PROVIDE SUPPORT TO MURRAY STATE COLLEGE FOR STUDENT SCHOLARSHIPS, FACULTY INITIATIVES, AND COLLEGE DEVELOPMENT.

Activities or mission (Part I)

TO PROVIDE SUPPORT FOR STUDENT SCHOLARSHIPS, FACULTY INITIATIVES, AND COLLEGE DEVELOPMENT.

FURNISH SUPPORT TO MURRAY STATE COLLEGE TO INVEST IN STUDENT SUCCESS BY PROVIDING SCHOLARSHIPS FUNDS.

Expenses $78,002 · Grants $78,002
AS THE INSTITUTIONS LARGEST SOURCE OF UNRESTRICTED SUPPORT, THE MURRAY STATE COLLEGE FOUNDATION HELPS TO SUPPORT PROGRAMS AND SERVICES THAT ARE CRITICAL TO THE INSTITUTION, SUCH AS PROVIDING DEPARTMENTAL SUPPORT, UPGRADING FACILITIES, AND DEVELOPING THE FACULTY.

Expenses $139,596
TO PROVIDE FACILITIES FOR MURRAY STATE COLLEGE TO USE FOR STUDENT HOUSING.

Expenses $94,452

As filed on the 2022 return.

Listed in Part VII

J J Harbert-BrogdonJ J HARBERT-BROGDON

CHAIRMAN

Total calculated

$0

Hours/week

1
Kevin StaggsKEVIN STAGGS

VICE CHAIRMAN

Total calculated

$0

Hours/week

1
Peggy ShafferPEGGY SHAFFER

SECRETARY

Total calculated

$0

Hours/week

1
Chris KiddCHRIS KIDD

MEMBER

Total calculated

$0

Hours/week

1
Dakota ColeDAKOTA COLE

MEMBER

Total calculated

$0

Hours/week

1
Dr Brandon BeaverDR BRANDON BEAVER

MEMBER

Total calculated

$0

Hours/week

1
Dr Gary GreeneDR GARY GREENE

MEMBER

Total calculated

$0

Hours/week

1
Dr Tim FaltynDR TIM FALTYN

MEMBER

Total calculated

$220,113

From this org

$0

From related orgs

$220,113

Other

$0

Hours/week

1

Schedule J breakdown matched by us

Base

$0 + $220,113 related

Bonus

$0

Other

$0

Deferred

$0

Nontaxable benefits

$0

Filer's total

$0 + $220,113 related
Eric ChapmanERIC CHAPMAN

MEMBER

Total calculated

$0

Hours/week

1
Joy McDaniel AldridgeJOY MCDANIEL ALDRIDGE

MEMBER

Total calculated

$0

Hours/week

1
Larry SloanLARRY SLOAN

MEMBER

Total calculated

$0

Hours/week

1
Martin VanmeterMARTIN VANMETER

MEMBER

Total calculated

$0

Hours/week

1
Dillon SparksDILLON SPARKS

MEMBER

Total calculated

$0

Hours/week

1
Jordyn FrazierJORDYN FRAZIER

EXECUTIVE DIRECTOR

Total calculated

$59,909

From this org

$0

From related orgs

$59,909

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. 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

MURRAY STATE COLLEGE

$0

SCHOLARSHIPS

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.

MURRAY STATE COLLEGE

501(C)(3) · COLLEGE · OK

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.

MURRAY STATE COLLEGE FOUNDATION STUDENT HOUSING LLC (STUDENT HOUSING)

BUILDING FOR USE BY MURRAY STATE COLLEGE · OK · income $217,408 · assets $2,223,242

Directly controlled by MURRAY STATE COLLEGE FOUNDATION

Provenance

Return type: form_990
Tax year: 2022
Filed: 13 November 2023
IRS schema version: 2022v5.0
Source object: 202323199349322202

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