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Nonprofiteer
← INDIANA UNIVERSITY FOUNDATION

Form 990 for tax year 2023

Filed by INDIANA UNIVERSITY FOUNDATION.

Totals

Total revenue
$447,818,816
Total expenses
$281,606,520
Contributions and grants received
$185,574,538
Grants paid
$190,228,298
Program services expenses (Part IX)
$230,767,086
Management and general expenses
$20,858,109
Fundraising expenses
$29,981,325
Program service expenses (Part III)
$230,767,086

Program services were 81.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • J Thomas Forbes

    President and CEO

    Total calculated
    $558,348
    From this org
    $484,788
    From related orgs
    $0
    Other
    $73,560
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $471,923
    Bonus
    $0
    Other
    $12,865
    Deferred
    $41,490
    Nontaxable benefits
    $32,070
    Filer's total
    $558,348

  • Pamela S Whitten

    Chairman of the Board

    Total calculated
    $0
    Hours/week
    0

  • Louis G Jordan

    Vice Chair

    Total calculated
    $0
    Hours/week
    0

  • Kim I Pressman

    Treasurer

    Total calculated
    $0
    Hours/week
    0

  • Aasif M Bade

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Alan B Graf

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Alisa L Hendrix

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Amish Shah

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Amy Balcius

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Cheng Wu

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Cheryl Sullivan

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Curtis A Ferguson

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Cynthia S Skjodt

    IUF Board Director until 2/24

    Total calculated
    $0
    Hours/week
    0

  • David C Evans

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • David H Jacobs Jr

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Dena Rae Hancock

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Derrick Burks

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Donna Spears

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Glenn Scolnik

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Gregg T Summerville

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Isaac P Torres

    IUF Board Director until 10/23

    Total calculated
    $0
    Hours/week
    0

  • James Fielding

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • James R Hodge

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • James Robert Quigg III

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Jane M Jorgensen

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • John Fernandez

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Jeff M Fettig

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • John Timothy Morris

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Joseph T Morrow

    IUF Board Director until 8/23

    Total calculated
    $0
    Hours/week
    0

  • Julie Christopher

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Julie Davis

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Kathleen Ligocki

    IUF Board Director until 6/24

    Total calculated
    $0
    Hours/week
    0

  • Kathryn R Booth

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Kenneth W Kaczmarek

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Kevin Gay

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Lacy M Johnson

    IUF Board Director until 6/24

    Total calculated
    $0
    Hours/week
    0

  • Linda S Watson

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Marya Rose

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Melissa Proffitt Schmidt

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Michael D Shumate

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Nate Feltman

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Pamela Carter

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Patrica A Martin

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Randolph L Seger

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Richard C Searles

    IUF Board Director until 6/24

    Total calculated
    $0
    Hours/week
    0

  • Richard E Woosnam

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Rick L Johnson Jr

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Robert Johnson

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Robert L Zerbe

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Rodney M Miller Sr

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Rose C Mays

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Sallie Jo Tardy Mitzell

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Sandra E Laney

    IUF Board Director until 8/23

    Total calculated
    $0
    Hours/week
    0

  • Steven L Tuchman

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Theodore D Dickman

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Victor E Renuart

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • W Michael Wells

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • William Q Buckner

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Joyce Q Rogers

    EVP for Development

    Total calculated
    $409,839
    From this org
    $335,368
    From related orgs
    $0
    Other
    $74,471
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $321,103
    Bonus
    $0
    Other
    $14,265
    Deferred
    $41,490
    Nontaxable benefits
    $32,981
    Filer's total
    $409,839

  • Jeffrey D Stumpf

    EVP for Finance & Oper. until 10/23

    Total calculated
    $658,869
    From this org
    $348,202
    From related orgs
    $0
    Other
    $310,667
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $285,003
    Bonus
    $0
    Other
    $63,199
    Deferred
    $287,092
    Nontaxable benefits
    $23,575
    Filer's total
    $658,869

  • Philippa Guthrie

    EVP, Gen Counsel & Corp Board Secretary

    Total calculated
    $295,282
    From this org
    $230,134
    From related orgs
    $0
    Other
    $65,148
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $223,007
    Bonus
    $0
    Other
    $7,127
    Deferred
    $27,747
    Nontaxable benefits
    $37,401
    Filer's total
    $295,282

  • Steven A Martin

    Assistant Corporate Secretary

    Total calculated
    $0
    Hours/week
    0

  • D Abe Weldy

    Co-CIO

    Total calculated
    $818,201
    From this org
    $736,336
    From related orgs
    $0
    Other
    $81,865
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $315,931
    Bonus
    $413,646
    Other
    $6,759
    Deferred
    $41,490
    Nontaxable benefits
    $40,375
    Filer's total
    $818,201

  • James Bergstrom

    Co-CIO

    Total calculated
    $816,213
    From this org
    $732,079
    From related orgs
    $0
    Other
    $84,134
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $317,140
    Bonus
    $413,646
    Other
    $1,293
    Deferred
    $41,490
    Nontaxable benefits
    $42,644
    Filer's total
    $816,213

  • Mary Bonk

    VP, Adv Proj Mgt, Support & Tech Serv

    Total calculated
    $304,093
    From this org
    $256,460
    From related orgs
    $0
    Other
    $47,633
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $255,349
    Bonus
    $0
    Other
    $1,111
    Deferred
    $31,073
    Nontaxable benefits
    $16,560
    Filer's total
    $304,093

  • Julie McFall

    Senior VP, Human Resources & Culture

    Total calculated
    $291,794
    From this org
    $238,677
    From related orgs
    $0
    Other
    $53,117
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $228,012
    Bonus
    $6,770
    Other
    $3,895
    Deferred
    $28,119
    Nontaxable benefits
    $24,998
    Filer's total
    $291,794

  • Sarah Beggs

    Chief of Staff & Sr VP, Strat Initiatives

    Total calculated
    $282,669
    From this org
    $220,177
    From related orgs
    $0
    Other
    $62,492
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $215,954
    Bonus
    $0
    Other
    $4,223
    Deferred
    $26,104
    Nontaxable benefits
    $36,388
    Filer's total
    $282,669

  • Scott Ryan

    Director of Investments

    Total calculated
    $502,213
    From this org
    $412,808
    From related orgs
    $0
    Other
    $89,405
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $165,600
    Bonus
    $247,208
    Other
    $0
    Deferred
    $41,490
    Nontaxable benefits
    $47,915
    Filer's total
    $502,213

  • Paula Jenkins

    VP, Principal Gifts

    Total calculated
    $303,834
    From this org
    $257,230
    From related orgs
    $0
    Other
    $46,604
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $245,317
    Bonus
    $0
    Other
    $11,913
    Deferred
    $31,038
    Nontaxable benefits
    $15,566
    Filer's total
    $303,834

  • Jeffrey Lindauer

    VP, University Advancement

    Total calculated
    $301,250
    From this org
    $268,315
    From related orgs
    $0
    Other
    $32,935
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $258,622
    Bonus
    $4,000
    Other
    $5,693
    Deferred
    $32,237
    Nontaxable benefits
    $698
    Filer's total
    $301,250

  • Elizabeth Feeny

    VP of Development

    Total calculated
    $272,255
    From this org
    $214,740
    From related orgs
    $0
    Other
    $57,515
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $202,425
    Bonus
    $0
    Other
    $12,315
    Deferred
    $25,125
    Nontaxable benefits
    $32,390
    Filer's total
    $272,255

  • Sheila Decker

    VP, Administration

    Total calculated
    $268,881
    From this org
    $203,648
    From related orgs
    $0
    Other
    $65,233
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $202,928
    Bonus
    $0
    Other
    $720
    Deferred
    $23,596
    Nontaxable benefits
    $41,637
    Filer's total
    $268,881

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 — 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 · First-class or charter travel
  • 1a · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 5a · Pay contingent on this organization's revenues
  • 7 · Other non-fixed payments

Answered no

  • 4c · Equity-based compensation arrangement
  • 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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 1a
First Class or charter travel: The IUF maintains a policy governing all business expenses including travel. Should a business need (e.g. length of flight time, security concerns, lack of commercial air options, etc.) require the use of first-class or charter travel, the IUF Board of Directors has authorized the IUF CEO to approve its use. These costs were not treated as taxable income because the travel is business related. In compliance with the IRS intermediate sanctions rules and regulations, in order to be approved under IUF policy, first-class and charter travel must be deemed to be in the best interests of the IUF in order to merit approval. Travel for Companions: The IUF maintains a policy governing all business expenses which prohibits companion related expenses, except for the specifically defined role of Associate to the IUF President. The duties of this position, which are outlined in a formal policy and support the organization's mission, are fulfilled by the IUF President & CEO's spouse. The Associate to the IUF President incurs business related expenses on behalf of IUF, and those amounts are not treated as taxable. In all cases, travel for companions is considered in the IUF's efforts to ensure compliance with the intermediate sanctions law. With the approval of the IUF Board of Directors: *allowances are made available to the IUF President & CEO for long-term disability and supplemental retirement payments to provide future retirement restoration. *allowances for vehicles are made available to certain Vice Presidents, Executive Vice Presidents and the IUF President & CEO.
Part I, Lines 4a-b
Jeffrey Stumpf received a severance payment of $307,632. Eligible executives participate in various non-qualified deferred compensation plans organized under code section 457(f). The exact purpose of each plan varies, but they include: compensation limitation make-up plans, deferral of a portion of incentive bonus type plans and other attributes of a deferred compensation plan. Any amount ultimately paid under the program to the executive is reported as compensation on Form 990, Schedule J, Part II, Column B in the year paid.
Part I, Line 5
The Indiana University Foundation currently provides two incentive compensation plans: The Investment Incentive Compensation Plan is available to key personnel in the Investment Department. The primary goal of the plan is retention of key investment staff who are responsible for helping the IUF to achieve top investment performance relative to its peers while reducing the volatility of performance over time. This plan is based on the premise of true value of dollars added by staff over an appropriate benchmark. IUF's Target Weighted Benchmark, and over a three-year period. The calculation of amount of bonus awarded is based on a formula similar to the industry standard and provides for a cap as a percentage of salary. This plan was developed and recommended by the Investment Committee of the IUF Board of Directors. The Major Gift Officers Evaluation/Incentive Program is designed to provide blueprints for and encourage our most gifted fundraisers to reach farther and inevitably increase their personal satisfaction and institutional value as development officers of Indiana University/Foundation. It rewards those who do so with eligibility for a year-end financial bonus. The calculation of amount of bonus awarded is based on definitive quantifiable indices for all participants, including dollars raised (both cash and deferred), opportunities (proposals), and contacts.
Part I, Line 7
Management provides non-fixed payments in the form of bonuses available to all IUF staff from a discretionary fund. All bonuses are based on performance and merit.

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

Provenance

Return type
form_990
Tax year
2023
Filed
15 May 2025
IRS schema version
2023v6.0
Source object
202531199349300633

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