Form 990 for tax year 2024
Filed by EAST TENNESSEE STATE UNIVERSITY FOUNDATION.
Totals
- Total revenue
- $18,187,606
- Total expenses
- $13,541,749
- Contributions and grants received
- $10,067,120
- Grants paid
- $12,877,846
- Program service revenue
- $0
- Investment income
- $5,950,116
- Other revenue
- $2,170,370
- Total assets, end of year
- $200,163,846
- Total liabilities, end of year
- $9,133,634
- Net assets or fund balances, end of year
- $191,030,212
- Program services expenses (Part IX)
- $13,541,749
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $13,541,749
Program services were 100.0% 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
$545,000
-
1f · All other contributions, gifts and grants
$9,522,120
-
1g · Noncash contributions included above
$444,049
-
3 · Investment income
total $6,086,212 · excluded $6,086,212
-
6a · Gross rents
real property $806,960
-
6b · Less rental expenses
real property $641,263
-
6c · Rental income or loss
real property $165,697
-
6d · Net rental income or loss
total $165,697 · related or exempt $85,987 · unrelated business $79,710
-
7a · Gross sales of assets other than inventory
securities $18,044,734
-
7b · Less cost or other basis and sales expenses
securities $18,180,830
-
7c · Gain or loss
securities -$136,096
-
7d · Net gain or loss
total -$136,096 · excluded -$136,096
-
11a · Other revenue: OTHER OPERATING REVENUES
total $2,022,899 · related or exempt $2,022,899
-
11b · Other revenue: LOSS ON LEASE TERMINATION
total -$18,226 · related or exempt -$18,226
-
11e · Other revenue, total
$2,004,673
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $8,466,293 · program services $8,466,293
-
2 · Grants to domestic individuals
total $4,411,553 · program services $4,411,553
-
11f · Fees: investment management
total $539,578 · program services $539,578
-
20 · Interest
total $93,247 · program services $93,247
-
24a · Other expenses: UNRELATED BUSINESS INCO
total $31,078 · program services $31,078
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,068,491 · end of year $1,668,870
-
2 · Savings and temporary cash investments
beginning of year $18,115,657 · end of year $9,563,678
-
3 · Pledges and grants receivable
beginning of year $2,739,923 · end of year $1,486,040
-
4 · Accounts receivable
beginning of year $237,350 · end of year $238,623
-
9 · Prepaid expenses and deferred charges
beginning of year $17,540 · end of year $6,781
-
10a · Land, buildings and equipment: cost or other basis
$14,211,354
-
10b · Land, buildings and equipment: accumulated depreciation
$1,652,092
-
10c · Land, buildings and equipment, net
beginning of year $10,513,396 · end of year $12,559,262
-
11 · Investments: publicly traded securities
beginning of year $136,756,341 · end of year $158,965,506
-
12 · Investments: other securities
beginning of year $9,307,241 · end of year $12,400,123
-
15 · Other assets
beginning of year $3,472,174 · end of year $3,274,963
-
17 · Accounts payable and accrued expenses
beginning of year $957,732 · end of year $953,241
-
23 · Secured mortgages and notes payable
beginning of year $3,065,372 · end of year $2,919,016
-
25 · Other liabilities
beginning of year $5,507,211 · end of year $5,261,377
-
29 · Capital stock, trust principal or current funds
beginning of year $48,183,039 · end of year $50,208,692
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $5,387,319 · end of year $7,301,883
-
31 · Retained earnings, endowment or other funds
beginning of year $119,127,440 · end of year $133,519,637
Mission and programs · 2024
Mission
TO PROVIDE SUPPORT FOR EAST TENNESSEE STATE UNIVERSITY (ETSU) AND ITS STUDENTS.
-
ALL PROGRAM EXPENDITURES ARE ATTRIBUTABLE TO THE ORGANIZATION'S STATED PURPOSE OF PROVIDING FUNDS TO EAST TENNESSEE STATE UNIVERSITY FOR THE SUPPORT OF ITS EDUCATIONAL PURPOSES AND TO ETSU STUDENTS.
Expenses $13,541,749 · Grants $12,877,846 · Revenue $2,090,660
As filed on the 2024 return.
Listed in Part VII
-
MS RENEE BAYS LOCKHART
CHAIRMAN OF THE BOARD
- Total calculated
- $0
- Hours/week
- 1
-
MR ANDY HALL
VICE CHAIR OF THE BOARD
- Total calculated
- $0
- Hours/week
- 1
-
MS TRACY FLEENOR
BOARD SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
DR STEVE BARNETT
BOARD DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR WILL BEDARD
BOARD DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
DR VIRGINIA BIEBER
BOARD DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR ANDY DIETRICH
BOARD DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR STEPHEN DIXON
BOARD DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR JOSH GIBBONS
BOARD DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR TOMMY GREER
CHAIR, INVESTMENT COMMITTEE
- Total calculated
- $0
- Hours/week
- 1
-
MR ANDY HALL
BOARD DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MS KIM HALL
BOARD DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR CASEY HAMMONTREE
BOARD DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR BRYAN HAWK
BOARD DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR STEVEN KILGORE
BOARD DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MRS CHARLY LANG
BOARD DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MRS BARB STREET
BOARD DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR GRANT SUMMERS
BOARD DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MS SANDY THOMAS
BOARD DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR MITCH TUELL
BOARD DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR MATT WILHJELM
BOARD DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
DR BRIAN NOLAND
UNIVERSITY PRESIDENT
- Total calculated
- $563,120
- From this org
- $0
- From related orgs
- $563,120
- Other
- $0
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $563,120 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $0 + $563,120 related
-
MR JOHN KING
INTERIM PRESIDENT/CEO OF THE FOUNDATION
- Total calculated
- $144,003
- From this org
- $0
- From related orgs
- $144,003
- Other
- $0
- Hours/week
- 1 + 40 related
-
MS CHRISTINA GRAHAM
CFO, VP BUSINESS/FINANCE
- Total calculated
- $294,540
- From this org
- $0
- From related orgs
- $294,540
- Other
- $0
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $294,540 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $0 + $294,540 related
-
MS PAMELA RITTER
FORMER PRESIDENT/CEO OF THE FOUNDATION
- Total calculated
- $212,761
- From this org
- $0
- From related orgs
- $212,761
- Other
- $0
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $212,761 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $0 + $212,761 related
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
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
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
-
EAST TENNESSEE STATE UNIVERSITY
$7,178,342
SUPPORT UNIVERSITY
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.
-
EAST TENNESSEE STATE UNIVERSITY
EDUCATION · TN
-
MEDICAL EDUCATION ASSISTANCE CORPORATION
EDUCATION · TN
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 14 May 2026
- IRS schema version
- 2024v5.5
- Source object
- 202611359349300646
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