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← MINNESOTA STATE UNIVERSITY MANKATO FOUNDATION INCORPORATED

Form 990 for tax year 2022

Filed by MINNESOTA STATE UNIVERSITY MANKATO FOUNDATION INCORPORATED.

Totals

Total revenue
$7,880,381
Total expenses
$6,221,910
Contributions and grants received
$7,600,826
Grants paid
$3,282,070
Program service revenue
$0
Investment income
$270,289
Other revenue
$9,266
Total assets, end of year
$86,434,052
Total liabilities, end of year
$1,157,651
Net assets or fund balances, end of year
$85,276,401
Program services expenses (Part IX)
$4,898,894
Management and general expenses
$896,322
Fundraising expenses
$426,694
Program service expenses (Part III)
$4,898,894

Program services were 78.7% 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

    $7,600,826

  • 1g · Noncash contributions included above

    $684,510

  • 3 · Investment income

    total $968,436 · unrelated business $119,109 · excluded $849,327

  • 5 · Royalties

    total $6,371 · excluded $6,371

  • 6a · Gross rents

    real property $42,574

  • 6b · Less rental expenses

    real property $91,830

  • 6c · Rental income or loss

    real property -$49,256

  • 6d · Net rental income or loss

    total -$49,256 · excluded -$49,256

  • 7a · Gross sales of assets other than inventory

    securities $18,316,614

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

    securities $19,014,761

  • 7c · Gain or loss

    securities -$698,147

  • 7d · Net gain or loss

    total -$698,147 · excluded -$698,147

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $52,151 · excluded $52,151

  • 11e · Other revenue, total

    $52,151

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $3,263,710 · program services $3,263,710

  • 2 · Grants to domestic individuals

    total $18,360 · program services $18,360

  • 7 · Other salaries and wages

    total $573,214 · program services $456,637 · fundraising $116,577

  • 8 · Pension plan contributions

    total $45,329 · program services $36,110 · fundraising $9,219

  • 9 · Other employee benefits

    total $118,081 · program services $94,066 · fundraising $24,015

  • 10 · Payroll taxes

    total $41,065 · program services $32,713 · fundraising $8,352

  • 11b · Fees: legal

    total $3,789 · management and general $3,789

  • 11c · Fees: accounting

    total $33,814 · management and general $33,814

  • 11f · Fees: investment management

    total $315,379 · management and general $315,379

  • 11g · Fees: other

    total $244,776 · program services $168,919 · management and general $75,857

  • 12 · Advertising and promotion

    total $14,382 · program services $13,507 · fundraising $875

  • 13 · Office expenses

    total $857,905 · program services $592,103 · management and general $265,802

  • 14 · Information technology

    total $223,422 · program services $6,660 · management and general $96,821 · fundraising $119,941

  • 16 · Occupancy

    total $4,094 · program services $2,495 · management and general $1,599

  • 17 · Travel

    total $107,015 · program services $86,579 · management and general $4,545 · fundraising $15,891

  • 19 · Conferences, conventions and meetings

    total $164,887 · program services $114,588 · management and general $50,299

  • 23 · Insurance

    total $9,177 · management and general $9,177

  • 24a · Other expenses: BAD DEBT EXPENSE

    total $131,824 · fundraising $131,824

  • 24b · Other expenses: OTHER EXPENSES

    total $26,642 · program services $927 · management and general $25,715

  • 24c · Other expenses: MEMBERSHIPS

    total $22,805 · program services $11,520 · management and general $11,285

  • 24d · Other expenses: TAXES PAID

    total $2,240 · management and general $2,240

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $204,719 · end of year $261,644

  • 2 · Savings and temporary cash investments

    beginning of year $530,403 · end of year $505,331

  • 3 · Pledges and grants receivable

    beginning of year $3,120,384 · end of year $4,441,017

  • 9 · Prepaid expenses and deferred charges

    beginning of year $29,750 · end of year $43,963

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

    $1,503,547

  • 10c · Land, buildings and equipment, net

    beginning of year $1,503,547 · end of year $1,503,547

  • 11 · Investments: publicly traded securities

    beginning of year $70,395,113 · end of year $78,395,911

  • 12 · Investments: other securities

    beginning of year $186,619 · end of year $204,519

  • 15 · Other assets

    beginning of year $1,044,670 · end of year $1,078,120

  • 17 · Accounts payable and accrued expenses

    beginning of year $139,757 · end of year $265,780

  • 24 · Unsecured notes and loans payable

    beginning of year $558,413 · end of year $558,413

  • 25 · Other liabilities

    beginning of year $333,929 · end of year $333,458

  • 27 · Net assets without donor restrictions

    beginning of year $3,250,786 · end of year $3,475,066

  • 28 · Net assets with donor restrictions

    beginning of year $72,732,320 · end of year $81,801,335

Mission and programs · 2022

Mission

MINNESOTA STATE UNIVERSITY, MANKATO FOUNDATION, INC. IS DEDICATED TO SECURING PRIVATE GIFTS AND GRANTS TO BENEFIT MINNESOTA STATE UNIVERSITY, MANKATO. EACH YEAR, THOUSANDS OF GENEROUS BENEFACTORS MAKE GIFTS TO HELP STUDENTS, FACULTY AND PROGRAMS AT THIS UNIVERSITY. THE FOUNDATION'S MISSION IS TO ENHANCE THE UNIVERSITY'S ABILITY TO ACHIEVE ITS MISSION BY ENCOURAGING AND STEWARDING SUSTAINED PHILANTHROPIC SUPPORT FROM ALUMNI AND FRIENDS. THE FOUNDATION OPERATES WITH RESPONSIBLE STEWARDSHIP, INTEGRITY, TRANSPARENCY AND TRUST, PROVIDES LEADERSHIP, ADVOCACY AND SUPPORT OF THE UNIVERSITY'S STRATEGIC PRIORITIES, PROVIDES SUPPORT FOR EDUCATIONAL ACCESS AND FOR ENRICHING EXPERIENCES FOR STUDENTS, AND PROVIDES LEADERSHIP IN PROMOTING AND ENGAGING DONOR PASSION.

Activities or mission (Part I)

TO SUPPORT MINNESOTA STATE UNIVERSITY, MANKATO.

  • THE ORGANIZATION PROVIDES STUDENT AID OPPORTUNITIES FOR STUDENTS TO RECEIVE ACADEMIC SCHOLARSHIPS, ATHLETIC TALENT GRANTS, AND OTHER AWARDS AND SCHOLARSHIPS.

    Expenses $2,456,715 · Grants $2,456,715

  • THE ORGANIZATION PROVIDES SUPPORT TO VARIOUS ACADEMIC AND ATHLETIC PROGRAMS, CLUBS, AND CONFERENCES OF THE UNIVERSITY. SUPPORT FOR UNIVERSITY ATHLETIC PROGRAMS - $569,423. SUPPORT FOR UNIVERSITY MUSIC PROGRAMS - $9,995. SUPPORT FOR THEATRE & DANCE PROGRAMS - $11,002. SUPPORT FOR UNIVERSITY AUXILIARY PROGRAMS - $174,615. SUPPORT FOR EQUIPMENT AND FACILITIES FOR VARIOUS ATHLETICS AND ACADEMIC PROGRAMS - $60,320.

    Expenses $825,355 · Grants $825,355

  • THE ORGANIZATION PROVIDES SUPPORT FOR THE DEVELOPMENT OF STUDENTS AND STAFF THROUGH CONFERENCES, CONVENTIONS, WORKSHOPS, MEETINGS, SPEAKERS, AND OTHER PROFESSIONAL DEVELOPMENT ACTIVITIES. THE ORGANIZATION PROVIDES SUPPORT FOR STAFF AND STUDENT SALARIES, SUPPLIES, EQUIPMENT RENTAL, PRINTING, POSTAGE, AND OTHER EXPENSES USED TO ASSIST DAILY EDUCATIONAL OPERATIONS AND ACTIVITIES.

    Expenses $1,616,824

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Harold K Stanley

    EXECUTIVE DIRECTOR, MSUMF

    Total calculated
    $241,226
    From this org
    $202,038
    From related orgs
    $0
    Other
    $39,188
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $202,038
    Bonus
    $0
    Other
    $0
    Deferred
    $14,996
    Nontaxable benefits
    $24,192
    Filer's total
    $241,226

  • Allan Bohlke

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Jim Lund

    BOARD VICE-CHAIR

    Total calculated
    $0
    Hours/week
    0.6

  • Todd Loosbrock

    TREASURER

    Total calculated
    $0
    Hours/week
    0.6

  • Jennifer Spaude

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.3

  • Jay Adams

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Brett Anderson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Mona Askalani

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Melissa Bradley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Rodney Brown

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Jim Clark

    DIRECTOR THRU 05/23

    Total calculated
    $0
    Hours/week
    0.3

  • Craig Gomez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Barbara Hubbard

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.4

  • Timothy Huebsch

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Rod Johnson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Barb Kaus

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Christine Lantinen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Kris Lindahl

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Susan Michaletz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Daniel Mundahl

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Michelle Schooff

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Stuart Sneer

    DIRECTOR THRU 05/23

    Total calculated
    $0
    Hours/week
    0.3

  • Chad Tischer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.4

  • Ron Vetter

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Kirsten Voss

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Bill Wiltgen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.4

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

The filer's explanations (Part III)

FORM 990, SCHEDULE J, PART II
THE FOUNDATION'S EXECUTIVE DIRECTOR, HAROLD STANLEY, IS COMPENSATED BY AN UNRELATED ORGANIZATION, MINNESOTA STATE UNIVERSITY, MANKATO FOR SERVICES PROVIDED TO THE FILING ORGANIZATION.

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

  • MINNESOTA STATE UNIVERSITY

    $2,226,680

    TO ASSIST THE UNIVERSITY IN AWARDING STUDENT SCHOLARSHIPS

  • MINNESOTA STATE UNIVERSITY

    $1,037,030

    ASSISTING THE UNIVERSITY WITH PROGRAM RELATED COSTS AND PROMOTING THE UNIVERSITY, INCLUDING ATHLETIC TALENT GRANTS.

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.

  • MAVERICK PHILANTHROPIC PROPERTIES LLC

    CREATED TO HOLD PROPERTY FOR FOUNDATION · MN · income $0 · assets $1,503,547

    Directly controlled by MINNESOTA STATE UNIVERSITY MANKATO FOUNDATION

  • LIME VALLEY WETLANDS LLC

    CREATED TO HOLD WETLAND PROPERTY FOR FOUNDATION · MN · income $0 · assets $0

    Directly controlled by MINNESOTA STATE UNIVERSITY MANKATO FOUNDATION

Provenance

Return type
form_990
Tax year
2022
Filed
10 October 2023
IRS schema version
2022v5.0
Source object
202303159349300120

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