Skip to content
Nonprofiteer
← SAGINAW VALLEY STATE UNIVERSITY FOUNDATION

Form 990 for tax year 2022

Filed by SAGINAW VALLEY STATE UNIVERSITY FOUNDATION.

Totals

Total revenue
$5,681,089
Total expenses
$6,959,241
Contributions and grants received
$4,000,100
Grants paid
$5,816,212
Program service revenue
$0
Investment income
$1,560,436
Other revenue
$120,553
Total assets, end of year
$102,424,930
Total liabilities, end of year
$464,164
Net assets or fund balances, end of year
$101,960,766
Program services expenses (Part IX)
$5,816,212
Management and general expenses
$866,594
Fundraising expenses
$276,435
Program service expenses (Part III)
$5,816,212

Program services were 83.6% 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.

  • 1d · Related organizations

    $202,545

  • 1f · All other contributions, gifts and grants

    $3,797,555

  • 1g · Noncash contributions included above

    $668,140

  • 3 · Investment income

    total $2,268,172 · excluded $2,268,172

  • 7a · Gross sales of assets other than inventory

    securities $7,080,942

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

    securities $7,788,678

  • 7c · Gain or loss

    securities -$707,736

  • 7d · Net gain or loss

    total -$707,736 · excluded -$707,736

  • 11a · Other revenue: SILVER POINT SPECIALTY

    total $99,149 · unrelated business $99,149

  • 11b · Other revenue: H.I.G

    total $16,570 · unrelated business $16,570

  • 11c · Other revenue: COMMONFUND PRIVATE EQUITY VII

    total $4,834 · unrelated business $4,834

  • 11e · Other revenue, total

    $120,553

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $5,816,212 · program services $5,816,212

  • 11f · Fees: investment management

    total $204,630 · management and general $204,630

  • 24a · Other expenses: ENDOWMENT MANAGEMENT FEE

    total $864,412 · management and general $587,977 · fundraising $276,435

  • 24b · Other expenses: FEDERAL AND STATE TAXES

    total $40,353 · management and general $40,353

  • 24c · Other expenses: CHARITABLE GIFT ANNUITY

    total $33,634 · management and general $33,634

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,599,968 · end of year $2,437,458

  • 3 · Pledges and grants receivable

    beginning of year $2,050,664 · end of year $555,494

  • 4 · Accounts receivable

    beginning of year $121,953 · end of year $149,365

  • 11 · Investments: publicly traded securities

    beginning of year $64,502,633 · end of year $73,669,587

  • 12 · Investments: other securities

    beginning of year $20,349,930 · end of year $19,740,448

  • 15 · Other assets

    beginning of year $5,639,783 · end of year $5,872,578

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,753,833 · end of year $274,995

  • 25 · Other liabilities

    beginning of year $188,582 · end of year $189,169

  • 27 · Net assets without donor restrictions

    beginning of year $10,438,014 · end of year $11,266,748

  • 28 · Net assets with donor restrictions

    beginning of year $84,884,502 · end of year $90,694,018

Mission and programs · 2022

Mission

TO GENERATE AND CULTIVATE A COMMUNITY OF ENTHUSIASTIC AND LOYAL DONORS WHO CONTRIBUTE TO THE DEVELOPMENT OF A PREMIER UNIVERSITY OF OUTSTANDING STUDENTS.

  • TRANSFER TO SAGINAW VALLEY STATE UNIVERSITY TO FUND SCHOLARSHIPS, AWARDS, PROGRAMS, BUILDING PROJECTS, AND ENDOWED CHAIRS: SCHOLARSHIPS 2,571,684 AWARDS 47,836 PROGRAMS 2,709,564 BUILDING PROJECTS 24,500 ENDOWED CHAIRS 460,691

    Expenses $5,814,275 · Grants $5,814,275

  • SUPPORT TO REGISTERED STUDENT ORGANIZATIONS AT SAGINAW VALLEY STATE UNIVERSITY: CARDINAL SINS 937 GREAT LAKES BAY MANUFACTURING ASSOCIATION 1,000

    Expenses $1,937 · Grants $1,937

As filed on the 2022 return.

Listed in Part VII

  • DONALD J BACHAND

    FIRST VICE C

    Total calculated
    $820,038
    From this org
    $0
    From related orgs
    $756,463
    Other
    $63,575
    Hours/week
    1 + 60 related

    Schedule J breakdown matched by us

    Base
    not reported + $313,607 related
    Bonus
    not reported
    Other
    not reported + $442,856 related
    Deferred
    not reported + $38,937 related
    Nontaxable benefits
    not reported + $25,710 related
    Filer's total
    not reported + $820,038 related

  • JAMES G MULADORE

    TREASURER

    Total calculated
    $395,121
    From this org
    $0
    From related orgs
    $319,992
    Other
    $75,129
    Hours/week
    5 + 60 related

    Schedule J breakdown matched by us

    Base
    not reported + $226,770 related
    Bonus
    not reported
    Other
    not reported + $93,222 related
    Deferred
    not reported + $51,384 related
    Nontaxable benefits
    not reported + $24,817 related
    Filer's total
    not reported + $395,121 related

  • DEBORAH R HUNTLEY

    DIRECTOR

    Total calculated
    $314,176
    From this org
    $0
    From related orgs
    $245,151
    Other
    $69,025
    Hours/week
    1 + 60 related

    Schedule J breakdown matched by us

    Base
    not reported + $234,747 related
    Bonus
    not reported
    Other
    not reported + $10,404 related
    Deferred
    not reported + $44,216 related
    Nontaxable benefits
    not reported + $25,881 related
    Filer's total
    not reported + $314,176 related

  • ANDREW J BETHUNE

    EXEC. DIRECT

    Total calculated
    $224,020
    From this org
    $0
    From related orgs
    $183,555
    Other
    $40,465
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    not reported + $121,042 related
    Bonus
    not reported
    Other
    not reported + $62,513 related
    Deferred
    not reported + $21,675 related
    Nontaxable benefits
    not reported + $19,594 related
    Filer's total
    not reported + $224,020 related

  • ELLEN E CRANE

    INTERIM EXEC

    Total calculated
    $213,572
    From this org
    $0
    From related orgs
    $164,881
    Other
    $48,691
    Hours/week
    48 + 12 related

    Schedule J breakdown matched by us

    Base
    not reported + $160,173 related
    Bonus
    not reported
    Other
    not reported + $4,708 related
    Deferred
    not reported + $20,238 related
    Nontaxable benefits
    not reported + $29,525 related
    Filer's total
    not reported + $213,572 related

  • SUSAN L CRANE

    TREASURER

    Total calculated
    $181,653
    From this org
    $0
    From related orgs
    $159,886
    Other
    $21,767
    Hours/week
    5 + 60 related

    Schedule J breakdown matched by us

    Base
    not reported + $157,694 related
    Bonus
    not reported
    Other
    not reported + $2,192 related
    Deferred
    not reported + $19,010 related
    Nontaxable benefits
    not reported + $3,809 related
    Filer's total
    not reported + $181,653 related

  • JOHN A DECKER

    DIRECTOR

    Total calculated
    $147,605
    From this org
    $0
    From related orgs
    $128,832
    Other
    $18,773
    Hours/week
    1 + 40 related

  • MARY ANNE ACKERMAN

    SECRETARY

    Total calculated
    $76,235
    From this org
    $0
    From related orgs
    $68,622
    Other
    $7,613
    Hours/week
    1 + 32 related

  • GEORGE GRANT JR

    FIRST VICE C

    Total calculated
    $22,388
    From this org
    $0
    From related orgs
    $19,176
    Other
    $3,212
    Hours/week
    1 + 60 related

  • DAVID J ABBS

    IMMEDIATE PA

    Total calculated
    $0
    Hours/week
    1

  • JENIFER ACOSTA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DR WAHEED AKBAR

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • VICTOR H AVILES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JESSICA BENTOSKI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JANET M BOTZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SHEILDA D BRADDOCK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SCOTT L CARMONA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BETHANY CHARLTON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SARAH L DELAHANTY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MARY F DRAVES

    SECOND VICE

    Total calculated
    $0
    Hours/week
    1

  • ANNE H FLEGENHEIMER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • VANCE B FULTON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JIMMY GREENE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JOHN D L HUMPHREYS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • WENDY D KANAR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BHUSHAN KULKARNI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JOHN M KUNITZER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KP KARUNAKARAN MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ADELE R MARTIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • THOMAS J NELLENBACH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KIMBERLY A NORRIS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KENNETH G ROZNOWSKI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • VICKI L RUPP

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CASSIE JO THIERFELDER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL T TRIBBLE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KATIE ZEHNDER WEISS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RAJ MONDOL WIENER

    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

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 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 III
PART I - 4A SAGINAW VALLEY STATE UNIVERSITY (A RELATED ORGANIZATION) MADE A SEVERANCE PAYMENT OF 42,713 TO ANDREW BETHUNE DURING CALENDAR YEAR 2022. THE SEVERANCE ARRANGEMENT WAS MADE TO ENSURE A SUCCESSFUL FACILITATION OF ROLE TRANSITION AND NONCOMPETE CONSIDERATIONS. PART I - 4B DONALD BACHAND, DEBORAH HUNTLEY, AND JAMES MULADORE PARTICIPATE IN A NON- QUALIFIED DEFERRED COMPENSATION PLAN OFFERED BY SAGINAW VALLEY STATE UNIVERSITY (A RELATED ORGANIZATION). DURING CALENDAR YEAR 2022, ADDITIONAL AMOUNTS WERE DEFERRED UNDER THE PLAN FOR BACHAND, MULADORE, AND HUNTLEY. TAXABLE PAYMENTS WERE INCLUDED IN PART II, COLUMN B(III) FOR BACHAND (300,000) UPON RETIREMENT. PAYMENTS TO OTHER PARTICIPANTS, IF ANY, WILL BE MADE AT THE COMPLETION OF THE EMPLOYMENT CONTRACT/UPON RETIREMENT. THE SVSU FOUNDATION DOES NOT HAVE ANY DIRECT EMPLOYEES. ALL INDIVIDUALS THAT WORK WITH THE SVSU FOUNDATION ARE EMPLOYED BY SAGINAW VALLEY STATE UNIVERSITY.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
14 May 2024
IRS schema version
2022v5.0
Source object
202431369349312173

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

The source document this was parsed from is served over the API, which is where bulk and document access live.