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Nonprofiteer
← ROSS-ADE FOUNDATION

Form 990 for tax year 2022

Filed by ROSS-ADE FOUNDATION.

Totals

Total revenue
$3,897,624
Total expenses
$3,903,817
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$7,638
Investment income
$3,889,986
Other revenue
$0
Total assets, end of year
$171,857,687
Total liabilities, end of year
$167,952,532
Net assets or fund balances, end of year
$3,905,155
Program services expenses (Part IX)
$3,887,368
Management and general expenses
$16,449
Fundraising expenses
$0
Program service expenses (Part III)
$3,887,368

Program services were 99.6% 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.

  • 2a · Program service revenue: Rent from Affiliates

    total $7,638 · related or exempt $7,638

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $3,889,986 · excluded $3,889,986

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $6,460 · management and general $6,460

  • 11g · Fees: other

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

  • 13 · Office expenses

    total $47 · management and general $47

  • 16 · Occupancy

    total $1 · management and general $1

  • 20 · Interest

    total $3,887,368 · program services $3,887,368

  • 23 · Insurance

    total $9,941 · management and general $9,941

  • 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 $173,030 · end of year $156,534

  • 2 · Savings and temporary cash investments

    beginning of year $711,107 · end of year $737,163

  • 4 · Accounts receivable

    beginning of year $613,006 · end of year $518,498

  • 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

  • 7 · Other notes and loans receivable

    beginning of year $1,079,075 · end of year $1,079,075

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,630,135 · end of year $3,219,710

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

    $150,873

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $150,873 · end of year $150,873

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $179,421,809 · end of year $165,995,834

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,098,232 · end of year $2,891,337

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $155,419,268 · end of year $144,568,494

  • 25 · Other liabilities

    beginning of year $23,350,187 · end of year $20,492,701

  • 31 · Retained earnings, endowment or other funds

    beginning of year $3,911,348 · end of year $3,905,155

Mission and programs · 2022

Mission

Support and assist the educational purposes of Purdue University by obtaining, acquiring, constructing, or otherwise providing buildings, grounds, or other suitable facilities, improvements, or equipment by providing funds, property, or by assisting in any other manner or by any other means.

Activities or mission (Part I)

Support & assist the educational purposes of Purdue University.

  • PROMOTE EDUCATIONAL PURPOSES IN CONNECTION WITH PURDUE UNIVERSITY BY OBTAINING, ACQUIRING, CONSTRUCTING, OR PROVIDING BUILDINGS, GROUNDS, OR OTHER SUITABLE PROPERTY FOR THE USE OR BENEFIT OF PURDUE UNIVERSITY.

    Expenses $3,887,368 · Revenue $7,638

As filed on the 2022 return.

Listed in Part VII

  • Brandee Sommer

    Assistant Secretary

    Total calculated
    $0
    Hours/week
    1

  • Brian Edelman

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Eva Nodine

    Vice President & Treasurer

    Total calculated
    $339,348
    From this org
    $0
    From related orgs
    $288,992
    Other
    $50,356
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $239,363 related
    Bonus
    $0 + $47,500 related
    Other
    $0 + $2,129 related
    Deferred
    $0 + $26,074 related
    Nontaxable benefits
    $0 + $24,282 related
    Filer's total
    $0 + $339,348 related

  • James Almond

    Vice President (through July 2022)

    Total calculated
    $419,405
    From this org
    $0
    From related orgs
    $378,698
    Other
    $40,707
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $358,849 related
    Bonus
    $0 + $13,500 related
    Other
    $0 + $6,349 related
    Deferred
    $0 + $21,281 related
    Nontaxable benefits
    $0 + $19,426 related
    Filer's total
    $0 + $419,405 related

  • Jodie Melton

    Assistant Secretary (Beginning Feb 2023)

    Total calculated
    $65,893
    From this org
    $0
    From related orgs
    $49,609
    Other
    $16,284
    Hours/week
    1 + 40 related

  • Mitchell E Daniels

    President (Through Jan 2023)

    Total calculated
    $994,886
    From this org
    $0
    From related orgs
    $930,606
    Other
    $64,280
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $618,728 related
    Bonus
    $0 + $300,000 related
    Other
    $0 + $11,878 related
    Deferred
    $0 + $30,500 related
    Nontaxable benefits
    $0 + $33,780 related
    Filer's total
    $0 + $994,886 related

  • Mung Chiang

    President (Beginning Jan 2023)

    Total calculated
    $650,476
    From this org
    $0
    From related orgs
    $593,150
    Other
    $57,326
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $425,052 related
    Bonus
    $0 + $146,000 related
    Other
    $0 + $22,098 related
    Deferred
    $0 + $30,500 related
    Nontaxable benefits
    $0 + $26,826 related
    Filer's total
    $0 + $650,476 related

  • Scott Seidle

    Assistant Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Chris Ruhl

    Director

    Total calculated
    $415,010
    From this org
    $0
    From related orgs
    $359,259
    Other
    $55,751
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $308,102 related
    Bonus
    $0 + $50,000 related
    Other
    $0 + $1,157 related
    Deferred
    $0 + $30,500 related
    Nontaxable benefits
    $0 + $25,251 related
    Filer's total
    $0 + $415,010 related

  • Malcolm DeKryger

    Director

    Total calculated
    $0
    Hours/week
    1

  • Michael Klipsch

    Director

    Total calculated
    $0
    Hours/week
    1

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

The filer's explanations (Part III)

Schedule J, Part I, Line 3 ARRANGEMENT USED TO ESTABLISH THE TOP MANAGEMENT OFFICIAL'S COMPENSATION
THE ORGANIZATION RELIED ON PURDUE university (A related ORGANIZATION) to determine compensation for the top management official. Purdue used a compensation committee, COMPARABILITY DATA, COMPENSATION SURVEY OR STUDY AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE TO DETERMINE THE COMPENSATION OF ITS TOP MANAGEMENT OFFICIAL.

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

No itemized grants to organizations 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.

Provenance

Return type
form_990
Tax year
2022
Filed
7 March 2024
IRS schema version
2022v5.0
Source object
202440679349300504

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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