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← WRIGHT STATE UNIVERSITY FOUNDATION INC

Form 990 for tax year 2023

Filed by WRIGHT STATE UNIVERSITY FOUNDATION INC.

Totals

Total revenue
$13,746,175
Total expenses
$10,298,905
Contributions and grants received
$5,172,459
Grants paid
$7,308,784
Program service revenue
$0
Investment income
$8,163,457
Other revenue
$410,259
Total assets, end of year
$172,642,347
Total liabilities, end of year
$3,589,849
Net assets or fund balances, end of year
$169,052,498
Program services expenses (Part IX)
$7,308,784
Management and general expenses
$2,438,417
Fundraising expenses
$551,704
Program service expenses (Part III)
$7,308,784

Program services were 71.0% 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

    $5,172,459

  • 1g · Noncash contributions included above

    $67,971

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $8,177,930 · unrelated business $13,023 · excluded $8,164,907

  • 6a · Gross rents

    real property $151,959

  • 6c · Rental income or loss

    real property $151,959 · personal property $0

  • 6d · Net rental income or loss

    total $151,959 · excluded $151,959

  • 7a · Gross sales of assets other than inventory

    securities $6,718,134

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

    securities $6,732,607

  • 7c · Gain or loss

    securities -$14,473 · other assets $0

  • 7d · Net gain or loss

    total -$14,473 · excluded -$14,473

  • 11a · Other revenue: Miscellaneous Income

    total $258,300 · related or exempt $258,300

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $258,300

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $3,973,376 · program services $3,973,376

  • 2 · Grants to domestic individuals

    total $3,335,408 · program services $3,335,408

  • 5 · Compensation of officers, directors and key employees

    total $537,965 · management and general $537,965

  • 7 · Other salaries and wages

    total $274,641 · management and general $274,641

  • 9 · Other employee benefits

    total $235,745 · management and general $235,745

  • 11b · Fees: legal

    total $24,200 · management and general $24,200

  • 11c · Fees: accounting

    total $35,272 · management and general $35,272

  • 11f · Fees: investment management

    total $852,591 · management and general $852,591

  • 11g · Fees: other

    total $153,415 · program services $0 · management and general $55,870 · fundraising $97,545

  • 13 · Office expenses

    total $14,088 · management and general $12,264 · fundraising $1,824

  • 14 · Information technology

    total $409,486 · management and general $51,475 · fundraising $358,011

  • 16 · Occupancy

    total $171,064 · management and general $171,064

  • 17 · Travel

    total $119,319 · management and general $26,072 · fundraising $93,247

  • 22 · Depreciation, depletion and amortization

    total $118,899 · management and general $118,899

  • 24a · Other expenses: MISCELLANEOUS

    total $43,436 · management and general $42,359 · fundraising $1,077

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,286,610 · end of year $1,877,147

  • 3 · Pledges and grants receivable

    beginning of year $5,634,200 · end of year $3,784,800

  • 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

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

    $2,880,829

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

    $1,272,999

  • 10c · Land, buildings and equipment, net

    beginning of year $1,691,663 · end of year $1,607,830

  • 11 · Investments: publicly traded securities

    beginning of year $124,899,158 · end of year $137,697,765

  • 12 · Investments: other securities

    beginning of year $22,422,845 · end of year $24,062,507

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $3,208,644 · end of year $3,612,298

  • 17 · Accounts payable and accrued expenses

    beginning of year $666,893 · end of year $295,411

  • 21 · Escrow or custodial account liability

    beginning of year $2,298,714 · end of year $2,514,830

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $968,060 · end of year $779,608

  • 27 · Net assets without donor restrictions

    beginning of year $12,352,149 · end of year $15,242,878

  • 28 · Net assets with donor restrictions

    beginning of year $143,857,304 · end of year $153,809,620

Mission and programs · 2023

Mission

The Wright State University Foundation's mission is to partner with Wright State University in providing funding that assists students from the Dayton region and beyond to obtain an affordable, quality education by: 1) promoting and facilitating a culture of engagement and philanthropy 2) prudently protecting, managing, and investing funds entrusted to it 3) disbursing funds aligned with the university's mission and priorities and ensuring funds disbursed are used as intended.

Activities or mission (Part I)

The Wright State University Foundation's mission is to partner with Wright State University in providing funding that assists students from the Dayton region and beyond to obtain an affordable, quality education.

  • SCHOLARSHIPS: STUDENTS AT WRIGHT STATE UNIVERSITY RECEIVE A QUALITY EDUCATION THAT IS PAID PARTLY BY TUITION AND PARTLY BY STATE SUBSIDY. THE LATTER REVENUE SOURCE HAS DECLINED IN RECENT YEARS THEREBY MAKING IT MORE DIFFICULT TO FINANCE A COLLEGE EDUCATION. ALTHOUGH WRIGHT STATE REMAINS ONE OF THE MOST AFFORDABLE PUBLIC INSTITUTIONS IN OHIO, THE FOUNDATION SEEKS TO OFFSET THE LOSS OF STATE TUITION SUBSIDIES BY RAISING PRIVATE CONTRIBUTIONS IN SUPPORT OF STUDENT TUITION PAYMENTS. DISTRIBUTIONS OF STUDENT FINANCIAL AID TOTALED $3,335,408 DURING THE YEAR.

    Expenses $3,335,408 · Grants $3,335,408

  • UNIVERSITY PROGRAMS: DONATED RESOURCES FOR VARIOUS ACADEMIC AND SUPPORT FUNCTIONS AT WRIGHT STATE UNIVERSITY ALLOWS ADMINISTRATORS FLEXIBILITY TO DELIVER QUALITY PROGRAMS TO THEIR CONSTITUENCIES. THESE CONTRIBUTIONS SUPPLEMENT THE UNIVERSITY'S BUDGET ALLOCATION AND ALLOW PROGRAM MANAGERS TO OFFER UNIQUE AND CREATIVE LEARNING OPPORTUNITIES FOR STUDENTS. DURING THE CURRENT YEAR, 24% OF EXPENSES IN THIS AREA RELATED TO PARTIAL OR COMPLETE SUPPORT OF PROGRAM PERSONNEL THAT OTHERWISE WOULD NOT HAVE BEEN SUPPORTED BY THE UNIVERSITY'S OPERATING BUDGET. PROCEEDS IN THIS AREA ARE ALSO USED TO CONSTRUCT, RENOVATE AND REHABILITATE UNIVERSITY FACILITIES. DURING THE CURRENT YEAR, 28% OF EXPENSES IN THIS AREA RELATED TO PARTIAL OR COMPLETE SUPPORT OF PROGRAM PERSONNEL THAT OTHERWISE WOULD NOT HAVE BEEN SUPPORTED BY THE UNIVERSITY'S OPERATING BUDGET. PROCEEDS IN THIS AREA ARE ALSO USED TO CONSTRUCT, RENOVATE AND REHABILITATE UNIVERSITY FACILITIES.

    Expenses $3,094,380 · Grants $3,094,380

  • ATHLETIC PROGRAMS: THROUGH ITS ATHLETIC PROGRAMS, WRIGHT STATE OFFERS ITS STUDENTS THE OPPORTUNITY TO COMPETE ON ONE OF ITS TWELVE NCAA DIVISION ONE MEN'S AN D WOMEN'S SPORTS TEAMS. THESE PROGRAMS SEEK TO TRANSFORM THE LIVES OF ITS STUDENT-ATHLETES, BUILDING A SOLID FOUNDATION FOR STUDENT SUCCESS AT ALL LEVELS. ATHLETICS IS COMMITTED HELPING ITS STUDENT-ATHLETES DEVELOP AS PEOPLE, STUDENTS AND ATHLETES - IN THAT ORDER - AS WELL AS SUPPORTING THE MISSION OF WRIGHT STATE.

    Expenses $643,141 · Grants $643,141

  • RESEARCH: SCHOLARLY RESEARCH IS A CORE PART OF WRIGHT STATE UNIVERSITY'S MISSION. THE FOUNDATION SEEKS TO ENHANCE FUNDING FOR THESE ACTIVITIES BY RAISING PRIVATE SUPPORT THAT PROVIDES PERSONNEL AND OPERATING COST COVERAGE FOR VARIOUS PROJECTS. MANY, ALTHOUGH NOT ALL, OF THE UNIVERSITY-SUPPORTED RESEARCH PROGRAMS ARE IN THE FIELD OF MEDICINE. THE AMOUNT OF RESEARCH SUPPORT PROVIDED BY THE FOUNDATION WAS $146,125.

    Expenses $146,125 · Grants $146,125

  • OTHER/VARIOUS: THE FOUNDATION ENTERTAINS REQUESTS TO ASSIST WITH FUNDING VARIOUS UNIVERSITY PURCHASES AND PROJECTS FOR THE BETTERMENT OF THE ENTIRE CAMPUS COMMUNITY. THE MAJORITY OF EXPENSES IN THE CURRENT FISCAL YEAR WERE MADE IN SUPPORT OF THE UNIVERSITY'S VARIOUS RECRUITING, RETAINING AND RELATIONSHIP GOALS.

    Expenses $89,730 · Grants $89,730 · Revenue $258,300

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

Listed in Part VII

  • Bill Diedrich

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • David Deptula

    Immediate Past Chair

    Total calculated
    $0
    Hours/week
    1

  • Kristina Kean

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Linda Black-Kurek

    Chair

    Total calculated
    $0
    Hours/week
    1

  • Rob Weisgarber

    Vice Chair

    Total calculated
    $0
    Hours/week
    1

  • Anupam Bedi

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Bob Reynolds

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Brittney Whiteside

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Chris Brookshire

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Danielle Rolfes

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Dave Dirksen

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • David Donaldson

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Doug Fecher

    Trustee (AS OF 9/18/23)

    Total calculated
    $0
    Hours/week
    1

  • Dr Megan Dines

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Dr Michael Robertson

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Dr Samia Borchers

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Gary McCullough

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Hernan Olivas

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Holly Di Flora

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Janet Heppard

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Karla Garrett-Harshaw

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • KEITH MEYER

    TRUSTEE (UNTIL 12/31/23)

    Total calculated
    $0

  • Loghan Young

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • MARC PORTER

    TRUSTEE (UNTIL 4/24/24)

    Total calculated
    $0

  • Martha Balyeat

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Matt Watson

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Michael Daniels

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Mike Clark

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Natasha Sandella

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Pamela vonMatthiessen

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Pete Julian

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Randy Phillips

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Roberta Cornist-Bordeneau

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Sharon Rab

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • TOM GUNLOCK

    TRUSTEE (UNTIL 9/18/23)

    Total calculated
    $0

  • Tom Sheehan

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Vercie Lark

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Andrea Wall

    Assistant Secretary

    Total calculated
    $72,596
    From this org
    $65,259
    From related orgs
    $0
    Other
    $7,337
    Hours/week
    40

  • R Scott Rash

    President & CEO

    Total calculated
    $304,717
    From this org
    $268,926
    From related orgs
    $0
    Other
    $35,791
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $251,189
    Bonus
    $7,600
    Other
    $10,137
    Deferred
    $21,821
    Nontaxable benefits
    $13,970
    Filer's total
    $304,717

  • Robert T Batson

    CFO

    Total calculated
    $160,594
    From this org
    $134,863
    From related orgs
    $0
    Other
    $25,731
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,941
    Bonus
    $100
    Other
    $1,822
    Deferred
    $11,761
    Nontaxable benefits
    $13,970
    Filer's total
    $160,594

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
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Approval by the board or compensation committee

Answered no

  • 1b · Written policy on the line-1a expenses
  • 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)

Schedule J, Part I, Line 1a Health or social club dues or initiation fees
The Foundation paid monthly dues to a local country club for its President and CEO. The membership provides networking and entertainment benefits which enhances the Foundation's relationship with various external constituencies. The amount paid for dues is treated as taxable compensation to the President and CEO.
Schedule J, Part I, Line 1b Written policy regarding payment or reimbursement of expenses
Payment of the country club dues for the President and CEO was authorized by the Board's 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

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.

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.

  • WSUF Emergence Center No 1 LLC (formerly Fairborn Office Property LLC)

    HOLDS TITLE TO PROPERTY OCCUPIED BY WSU FOUNDATION, INC. · OH · income $151,959 · assets $1,607,830

    Directly controlled by Wright State University Foundation Inc

  • RAIDER FOOD PANTRY

    FOOD PANTRY · OH · income $0 · assets $0

    Directly controlled by WRIGHT STATE UNIVERSITY FOUNDATION

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CHARITABLE REMAINDER TRUSTS (3)

    Trust · INVESTMENTS · OH · share of income $246,200 · share of assets $1,753,800 · controlled entity

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2023
Filed
14 May 2025
IRS schema version
2023v6.0
Source object
202531349349307233

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