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Nonprofiteer
← IDAHO STATE UNIVERSITY FOUNDATION INC

Form 990 for tax year 2023

Filed by IDAHO STATE UNIVERSITY FOUNDATION INC.

Totals

Total revenue
$26,245,270
Total expenses
$17,113,050
Contributions and grants received
$19,915,698
Grants paid
$14,065,185
Program service revenue
$1,609,961
Investment income
$4,719,611
Other revenue
$0
Total assets, end of year
$140,515,899
Total liabilities, end of year
$5,726,013
Net assets or fund balances, end of year
$134,789,886
Program services expenses (Part IX)
$14,431,375
Management and general expenses
$1,890,483
Fundraising expenses
$791,192
Program service expenses (Part III)
$14,431,375

Program services were 84.3% 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

    $19,915,698

  • 1g · Noncash contributions included above

    $1,936,175

  • 2a · Program service revenue: Management Fee

    total $1,048,081 · related or exempt $1,048,081

  • 2b · Program service revenue: Gift Fee Income

    total $561,880 · related or exempt $561,880

  • 3 · Investment income

    total $4,708,991 · unrelated business $67,008 · excluded $4,641,983

  • 7a · Gross sales of assets other than inventory

    securities $11,593,113

  • 7b · Less cost or other basis and sales expenses

    securities $11,582,493

  • 7c · Gain or loss

    securities $10,620

  • 7d · Net gain or loss

    total $10,620 · excluded $10,620

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $14,065,185 · program services $14,065,185

  • 11a · Fees: management

    total $1,047,662 · management and general $1,047,662

  • 11c · Fees: accounting

    total $29,688 · management and general $29,688

  • 11f · Fees: investment management

    total $476,533 · management and general $476,533

  • 11g · Fees: other

    total $304,571 · program services $100 · management and general $277,736 · fundraising $26,735

  • 13 · Office expenses

    total $335,052 · program services $221,912 · management and general $6,070 · fundraising $107,070

  • 14 · Information technology

    total $190,150 · program services $134,564 · management and general $39,168 · fundraising $16,418

  • 17 · Travel

    total $2,129 · management and general $2,129

  • 19 · Conferences, conventions and meetings

    total $8,913 · management and general $8,913

  • 23 · Insurance

    total $92,954 · management and general $12,473 · fundraising $80,481

  • 24a · Other expenses: Gift Fee

    total $560,488 · fundraising $560,488

  • 24b · Other expenses: Income Tax Expense

    total $11,407 · management and general $11,407

  • 24c · Other expenses: Payments Under Planned

    total $9,614 · program services $9,614

  • 24d · Other expenses: Bad Debt Expense

    total -$23,864 · management and general -$23,864

  • 24e · All other expenses

    total $2,568 · management and general $2,568

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $11,170,690 · end of year $1,457,561

  • 3 · Pledges and grants receivable

    beginning of year $13,689,201 · end of year $16,124,269

  • 4 · Accounts receivable

    beginning of year $123,200 · end of year $123,200

  • 9 · Prepaid expenses and deferred charges

    beginning of year $134,758 · end of year $325,993

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

    $356,695

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

    $150,902

  • 10c · Land, buildings and equipment, net

    beginning of year $205,793 · end of year $205,793

  • 11 · Investments: publicly traded securities

    beginning of year $125,495 · end of year $2,803,027

  • 12 · Investments: other securities

    beginning of year $97,417,872 · end of year $119,310,620

  • 15 · Other assets

    beginning of year $1,913,141 · end of year $165,436

  • 17 · Accounts payable and accrued expenses

    beginning of year $707,106 · end of year $3,746,374

  • 21 · Escrow or custodial account liability

    beginning of year $1,271,464 · end of year $1,316,253

  • 23 · Secured mortgages and notes payable

    beginning of year $3,000,000 · end of year $0

  • 25 · Other liabilities

    beginning of year $677,615 · end of year $663,386

  • 27 · Net assets without donor restrictions

    beginning of year $5,333,481 · end of year $4,889,829

  • 28 · Net assets with donor restrictions

    beginning of year $113,790,484 · end of year $129,900,057

Mission and programs · 2023

Mission

The mission of the Foundation is to stimulate voluntary private support from alumni, parents, friends, corporations, foundations, and others for the benefit of the University and its students.

Activities or mission (Part I)

To solicit, hold and manage donations for Idaho State University.

  • The Idaho State University Foundation, Inc. (the Foundation) was formed in March 1967. The Foundation is a not-for-profit corporation incorporated in accordance with the laws of the State of Idaho and is managed by a volunteer Board of Directors. Under the Idaho State Board of Education's administrative rules the Foundation must be independent of, and cannot be controlled by, Idaho State University (the University). Operating and services agreements between the Foundation and the University define the relationship between the two entities in accordance with the State Board of Education's rules. The mission of the Foundation is accomplished by focusing on two primary service areas. (Continued on Schedule O)Academic, development and program support:The Foundation supports private individuals and organizations in contributing to the University programs and projects that are meaningful to the donor and important to the University. The Foundation provides assurance that contributions will be received, distributed and used in the manner donor intended. The donated resources provide additional opportunities for students and promote a degree of institutional excellence unavailable with state funding levels.Endowment and private resource management:The Foundation manages the endowment and other privately donated funds received for the benefit of the University and its programs. Management of these resources includes selection of investment advisors, establishing investment targets and allocations, enhancing returns invested funds and managing cash flows to meet the spending needs of the University from endowment and other funds.

    Expenses $14,431,375 · Grants $14,065,185 · Revenue $1,609,961

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Beena Mannan

    Chair

    Total calculated
    $0
    Hours/week
    9

  • John Kent

    Past Chair

    Total calculated
    $0
    Hours/week
    3

  • Crystal Allen

    Secretary

    Total calculated
    $0
    Hours/week
    2

  • AJ Balukoff

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Alan Stanek

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Arturo Beery

    Board Member

    Total calculated
    $0
    Hours/week
    3

  • Bill McNabb

    Board Member

    Total calculated
    $0
    Hours/week
    0.5

  • David Jeppesen

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Jake Erikson

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Joel Phillips

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Josh Tolman

    Board Member

    Total calculated
    $0
    Hours/week
    0.5

  • Marc McDonald

    Board Member

    Total calculated
    $0
    Hours/week
    5

  • Michael Watson

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Mike Byrne

    Lifetime Board Member

    Total calculated
    $0
    Hours/week
    3

  • Shelly Sayer

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Stephen Beckley

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Steve Rice

    Board Member

    Total calculated
    $0
    Hours/week
    4

  • Steven Skaggs

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Susan Campbell

    Board Member

    Total calculated
    $0
    Hours/week
    3

  • Troy Bell

    Board Member

    Total calculated
    $0
    Hours/week
    1.5

  • Williams Eames

    Lifetime Board Member

    Total calculated
    $0
    Hours/week
    1

  • Zakery Warren

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Catherine Wooton

    Executive Vice President

    Total calculated
    $58,512
    From this org
    $51,179
    From related orgs
    $0
    Other
    $7,333
    Hours/week
    6

  • Arlo Luke

    Treasurer

    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.

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

The filer's explanations (Part III)

Form 990, Part VII, Section A, Line 5:
Idaho State University, an unrelated organization for tax purposes, paid compensation of $51,179 and benefits of $7,333 to Catherine Wooton for services provided to the Foundation as Executive Vice President for the calendar year. The Foundation's portion for the fiscal year, including compensation and benefits of $68,149 for Catherine Wooton, is reported as contributed services by ISU to the Foundation.

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

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.

  • Charitable Remainder Trusts (6)

    SUPPORT FOR IDAHO STATE UNIVERSITY · ID

Provenance

Return type
form_990
Tax year
2023
Filed
15 May 2025
IRS schema version
2023v6.0
Source object
202531359349311713

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