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Nonprofiteer
← INDIANA UNIVERSITY FOUNDATION

Form 990 for tax year 2024

Filed by INDIANA UNIVERSITY FOUNDATION.

Totals

Total revenue
$598,652,224
Total expenses
$501,934,877
Contributions and grants received
$335,287,411
Grants paid
$403,572,809
Program services expenses (Part IX)
$447,372,087
Management and general expenses
$26,177,292
Fundraising expenses
$28,385,498
Program service expenses (Part III)
$447,372,087

Program services were 89.1% 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
    $585,576
    From this org
    $511,589
    From related orgs
    $0
    Other
    $73,987
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $498,224
    Bonus
    $0
    Other
    $13,365
    Deferred
    $43,320
    Nontaxable benefits
    $30,667
    Filer's total
    $585,576

  • Pamela S Whitten

    Chairman of the Board

    Total calculated
    $0
    Hours/week
    0

  • Louis G Jordan

    Vice Chair

    Total calculated
    $0
    Hours/week
    0

  • Kenneth W Kaczmarek

    IUF Board Director/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 (until 6/30/25)

    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

  • David C Evans

    IUF Board Director (until 6/30/25)

    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 (until 6/30/25)

    Total calculated
    $0
    Hours/week
    0

  • Frank Graves

    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 (until 6/30/25)

    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

  • Julie Christopher

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Julie Davis

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Kathryn R Booth

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Kevin Gay

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Kim I Pressman

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Kristin Mays-Corbitt

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Linda S Watson

    IUF Board Director

    Total calculated
    $0
    Hours/week
    0

  • Mary Boelke

    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 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 (until 2/28/25)

    Total calculated
    $0
    Hours/week
    0

  • Sallie Jo Tardy Mitzell

    IUF Board Director

    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

  • Philippa Guthrie

    EVP, Gen Counsel & Sec. (until 6/25)

    Total calculated
    $314,649
    From this org
    $246,263
    From related orgs
    $0
    Other
    $68,386
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $233,436
    Bonus
    $0
    Other
    $12,827
    Deferred
    $29,747
    Nontaxable benefits
    $38,639
    Filer's total
    $314,649

  • Steven A Martin

    Assistant Corporate Secretary

    Total calculated
    $0
    Hours/week
    0

  • Mary Bonk

    Interim EVP Finance and Bus Op, VP Project Managem

    Total calculated
    $341,448
    From this org
    $288,207
    From related orgs
    $0
    Other
    $53,241
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $286,896
    Bonus
    $0
    Other
    $1,311
    Deferred
    $35,460
    Nontaxable benefits
    $17,781
    Filer's total
    $341,448

  • James Bergstrom

    Co-CIO

    Total calculated
    $521,470
    From this org
    $435,986
    From related orgs
    $0
    Other
    $85,484
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $331,996
    Bonus
    $103,125
    Other
    $865
    Deferred
    $43,320
    Nontaxable benefits
    $42,164
    Filer's total
    $521,470

  • D Abe Weldy

    Co-CIO

    Total calculated
    $526,786
    From this org
    $440,746
    From related orgs
    $0
    Other
    $86,040
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $331,440
    Bonus
    $103,125
    Other
    $6,181
    Deferred
    $43,320
    Nontaxable benefits
    $42,720
    Filer's total
    $526,786

  • Sarah Beggs

    Senior VP, Advancement Services

    Total calculated
    $304,072
    From this org
    $237,876
    From related orgs
    $0
    Other
    $66,196
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $230,453
    Bonus
    $0
    Other
    $7,423
    Deferred
    $28,421
    Nontaxable benefits
    $37,775
    Filer's total
    $304,072

  • Julie McFall

    Senior VP, Human Resources & Culture

    Total calculated
    $293,052
    From this org
    $246,597
    From related orgs
    $0
    Other
    $46,455
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $239,502
    Bonus
    $0
    Other
    $7,095
    Deferred
    $28,806
    Nontaxable benefits
    $17,649
    Filer's total
    $293,052

  • Joyce Q Rogers

    EVP for Development

    Total calculated
    $414,356
    From this org
    $352,024
    From related orgs
    $0
    Other
    $62,332
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $337,559
    Bonus
    $0
    Other
    $14,465
    Deferred
    $43,320
    Nontaxable benefits
    $19,012
    Filer's total
    $414,356

  • Jeffrey Lindauer

    VP, University Advancement

    Total calculated
    $308,923
    From this org
    $272,224
    From related orgs
    $0
    Other
    $36,699
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $266,381
    Bonus
    $0
    Other
    $5,843
    Deferred
    $32,404
    Nontaxable benefits
    $4,295
    Filer's total
    $308,923

  • Paula Jenkins

    VP, Principal Gifts

    Total calculated
    $315,125
    From this org
    $263,452
    From related orgs
    $0
    Other
    $51,673
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $251,539
    Bonus
    $0
    Other
    $11,913
    Deferred
    $31,551
    Nontaxable benefits
    $20,122
    Filer's total
    $315,125

  • Elizabeth Feeny

    VP of Development

    Total calculated
    $291,271
    From this org
    $231,410
    From related orgs
    $0
    Other
    $59,861
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $209,195
    Bonus
    $10,000
    Other
    $12,215
    Deferred
    $27,206
    Nontaxable benefits
    $32,655
    Filer's total
    $291,271

  • Catherine Melvin

    VP, Fin. and Accounting (until 1/25)

    Total calculated
    $298,296
    From this org
    $224,884
    From related orgs
    $0
    Other
    $73,412
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $196,015
    Bonus
    $17,000
    Other
    $11,869
    Deferred
    $27,021
    Nontaxable benefits
    $46,391
    Filer's total
    $298,296

  • Patricia Riveire

    Chief Alumni Officer

    Total calculated
    $288,640
    From this org
    $219,585
    From related orgs
    $0
    Other
    $69,055
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $212,490
    Bonus
    $0
    Other
    $7,095
    Deferred
    $25,852
    Nontaxable benefits
    $43,203
    Filer's total
    $288,640

  • Jeffrey D Stumpf

    Former EVP for Finance & Operations

    Total calculated
    $256,360
    From this org
    $256,360
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $256,360
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $256,360

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 - The amount shown in column F was reported as deferred compensation in the prior year and paid out in the current year. This amount is also included in column (B)(iii). 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
2024
Filed
10 May 2026
IRS schema version
2024v5.5
Source object
202611329349300021

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