← WRIGHT STATE UNIVERSITY FOUNDATION INC

Form 990 for tax year 2022

Filed by WRIGHT STATE UNIVERSITY FOUNDATION INC.

Totals

Total revenue: $19,144,235
Total expenses: $10,436,341
Contributions and grants received: $9,171,637
Grants paid: $7,592,887
Program service revenue: $0
Investment income: $9,617,439
Other revenue: $355,159
Total assets, end of year: $160,143,120
Total liabilities, end of year: $3,933,667
Net assets or fund balances, end of year: $156,209,453
Program services expenses (Part IX): $7,592,887
Management and general expenses: $2,082,015
Fundraising expenses: $761,439
Program service expenses (Part III): $7,592,887

Program services were 72.8% 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

$9,171,637
1g · Noncash contributions included above

$332,495
2f · All other program service revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
3 · Investment income

total $9,347,644 · unrelated business $14,146 · excluded $9,333,498
6a · Gross rents

real property $109,055
6c · Rental income or loss

real property $109,055 · personal property $0
6d · Net rental income or loss

total $109,055 · excluded $109,055
7a · Gross sales of assets other than inventory

securities $8,180,209
7b · Less cost or other basis and sales expenses

securities $7,910,414
7c · Gain or loss

securities $269,795 · other assets $0
7d · Net gain or loss

total $269,795 · excluded $269,795
11a · Other revenue: Miscellaneous Income

total $246,104 · related or exempt $246,104
11d · All other revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
11e · Other revenue, total

$246,104

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $4,448,205 · program services $4,448,205
2 · Grants to domestic individuals

total $3,144,682 · program services $3,144,682
5 · Compensation of officers, directors and key employees

total $505,614 · management and general $505,614
7 · Other salaries and wages

total $369,504 · management and general $171,387 · fundraising $198,117
9 · Other employee benefits

total $255,190 · management and general $182,894 · fundraising $72,296
11b · Fees: legal

total $29,963 · management and general $29,963
11c · Fees: accounting

total $44,839 · management and general $44,839
11f · Fees: investment management

total $759,168 · management and general $759,168
11g · Fees: other

total $110,488 · program services $0 · management and general $16,903 · fundraising $93,585
13 · Office expenses

total $5,313 · management and general $4,982 · fundraising $331
14 · Information technology

total $415,621 · management and general $76,950 · fundraising $338,671
16 · Occupancy

total $105,478 · management and general $105,372 · fundraising $106
17 · Travel

total $84,817 · management and general $26,719 · fundraising $58,098
22 · Depreciation, depletion and amortization

total $118,022 · management and general $118,022
24a · Other expenses: MISCELLANEOUS

total $39,437 · management and general $39,202 · fundraising $235
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 $5,527,170 · end of year $2,286,610
3 · Pledges and grants receivable

beginning of year $5,088,800 · end of year $5,634,200
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

$2,845,763
10b · Land, buildings and equipment: accumulated depreciation

$1,154,100
10c · Land, buildings and equipment, net

beginning of year $1,809,685 · end of year $1,691,663
11 · Investments: publicly traded securities

beginning of year $112,269,019 · end of year $124,899,158
12 · Investments: other securities

beginning of year $21,566,599 · end of year $22,422,845
13 · Investments: program-related

beginning of year $0
15 · Other assets

beginning of year $3,020,869 · end of year $3,208,644
17 · Accounts payable and accrued expenses

beginning of year $478,775 · end of year $666,893
21 · Escrow or custodial account liability

beginning of year $2,175,462 · end of year $2,298,714
22 · Loans and payables to officers and key people

beginning of year $0 · end of year $0
25 · Other liabilities

beginning of year $1,038,246 · end of year $968,060
27 · Net assets without donor restrictions

beginning of year $11,218,183 · end of year $12,352,149
28 · Net assets with donor restrictions

beginning of year $134,371,476 · end of year $143,857,304

Mission and programs · 2022

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)

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 $320,171.

Expenses $320,171 · Grants $320,171
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.

Expenses $3,325,109 · Grants $3,325,109
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 $3,144,682 DURING THE YEAR.

Expenses $3,144,682 · Grants $3,144,682
ATHLETIC PROGRAMS

Expenses $768,341 · Grants $768,341
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 $34,584 · Grants $34,584 · Revenue $246,104

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

Listed in Part VII

Andrea Kunk

Immediate Past Chair

Total calculated

$0

Hours/week

1
Bill Diederich

Secretary

Total calculated

$0

Hours/week

1
David Deptula

Chair

Total calculated

$0

Hours/week

1
Kristina Kean

Treasurer

Total calculated

$0

Hours/week

1
Linda Black-Kurek

Vice Chair

Total calculated

$0

Hours/week

1
Andrew Platt

Trustee (until 2/28/23)

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
Danielle Rolfes

Trustee

Total calculated

$0

Hours/week

1
David Donaldson

Trustee

Total calculated

$0

Hours/week

1
Doniska Taylor

Trustee

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
Jon Ramey

Trustee (until 2/28/23)

Total calculated

$0

Hours/week

1
Karla Garrett-Harshaw

Trustee

Total calculated

$0

Hours/week

1
Keith Meyer

Trustee

Total calculated

$0

Hours/week

1
Loghan Young

Trustee

Total calculated

$0

Hours/week

1
Marc Porter

Trustee

Total calculated

$0

Hours/week

1
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
Pamela vonMatthiessen

Trustee

Total calculated

$0

Hours/week

1
Randy Phillips

Trustee

Total calculated

$0

Hours/week

1
Rob Weisgarber

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

Total calculated

$0

Hours/week

1
Tom Sheehan

Trustee

Total calculated

$0

Hours/week

1
Tony Alexander

Trustee (until 5/10/23)

Total calculated

$0

Hours/week

1
Andrea Wall

Assistant Secretary

Total calculated

$66,641

From this org

$61,841

From related orgs

$0

Other

$4,800

Hours/week

40
R Scott Rash

President & CEO

Total calculated

$283,107

From this org

$251,991

From related orgs

$0

Other

$31,116

Hours/week

40

Schedule J breakdown matched by us

Base

$250,443

Bonus

$0

Other

$1,548

Deferred

$19,747

Nontaxable benefits

$11,369

Filer's total

$283,107
Robert T Batson

CFO

Total calculated

$153,863

From this org

$131,491

From related orgs

$0

Other

$22,372

Hours/week

40

Schedule J breakdown matched by us

Base

$130,270

Bonus

$0

Other

$1,221

Deferred

$10,976

Nontaxable benefits

$11,396

Filer's total

$153,863

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 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

Wright State University

$4,448,205

Institutional support

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.

WRIGHT STATE UNIVERSITY

501(c)(1) · EDUCATION · OH

Directly controlled by NA

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 $109,055 · assets $1,691,663

Directly controlled by Wright State University Foundation Inc
RAIDER FOOD PANTY

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 · controlled entity

Directly controlled by NA

Provenance

Return type: form_990
Tax year: 2022
Filed: 15 May 2024
IRS schema version: 2022v5.0
Source object: 202411369349311921

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