Michigan State University Foundation
- Assets
- $535.4m
- Revenue
- $55.9m
- Investments
- $278.0m
- Employees
- 25
- Location
- East Lansing, MI
- Founding
- 05/1991
- Data as of
- 06/2021
- EIN
- 23-7326030
Organization Overview
Michigan State University Foundation is located in East Lansing, MI. The organization was established in 1991. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2021, Michigan State University Foundation employed 25 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Michigan State University Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Michigan State University Foundation generated $55.9m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.7% each year . All expenses for the organization totaled $19.5m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SUPPORT FOR THE BOARD OF TRUSTEES OF MICHIGAN STATE UNIVERSITY (CONTINUED IN SCHEDULE O) AND TO PROMOTE, SPONSOR, ASSIST, AND CARRY OUT EDUCATIONAL, SCIENTIFIS, CHARITABLE AND RELATED ACTIVITIES AND OBJECTIVES OF MICHIGAN STATE UNIVERSITY.
Describe the Organization's Program Activity:
GRANTING FUNDS TO ADVANCE RESEARCH AND THE UNIVERSITY'S SCHOLARLY INFRASTRUCTURE OF TEACHING AND DISSEMINATION OF NEW KNOWLEDGE, UNDERWRITING MSU'S WORK IN TECHNOLOGY COMMERCIALIZATION, DEVELOPING, SCALING AND DE-RISKING BIO BASED TECHNOLOGIES THROUGH MBI INTERNATIONAL, A WHOLLY-OWNED FOUNDATION SUBSIDIARY, FOSTERING THE CREATION OF STARTUP ENTERPRISES ORIGINATING FROM MSU THROUGH THE FOUNDATION'S SPARTAN INNOVATIONS, MICHIGAN RISE PRE-SEED FUND III AND INVESTMENT HOLDINGS SUBSIDIARIES, AND PROVIDING FACILITIES AND BUILDING SITES AT THE UNIVERSITY CORPORATE RESEARCH PARK FOR TECHNOLOGY ENTERPRISES, UNIVERSITY TECHNOLOGY-DEVELOPMENT INITIATIVES, AND UNIVERSITY/INDUSTRY COLLABORATIONS.
SPARTAN INNOVATIONS PROVIDES THE EDUCATIONAL AND FINANCIAL SUPPORT NECESSARY TO TURN MSU RESEARCH TECHNOLOGIES INTO SUCCESSFUL MICHIGAN BUSINESSES - AND SPUR ENTREPRENEURSHIP IN THE MICHIGAN ECONOMY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Washburn Executive Director | OfficerTrustee | 40 | $381,744 |
Traci Cannon Fmr Special Projects (thru 6/2020) | 0 | $327,955 | |
Jeffrey Wesley Executive Director | Officer | 40 | $265,557 |
Frank Urban Director Of Venture Creation | 40 | $141,368 | |
Bradley Fingland Director Of Venture Creation | 40 | $140,872 | |
Prem Bodagala Director Of Red Cedar Ventures | 40 | $138,888 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cambridge Associates Llc Consulting Services | 6/29/21 | $453,577 |
Grant Thornton Llp Accounting Services | 6/29/21 | $101,200 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,236,011 |
| All other contributions, gifts, grants, and similar amounts not included above | $661,611 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,897,622 |
| Total Program Service Revenue | $359,800 |
| Investment income | $2,971,853 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $1,767,398 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $46,703,954 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $55,850,938 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $12,203,569 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,028,872 |
| Compensation of current officers, directors, key employees. | $205,774 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,331,192 |
| Pension plan accruals and contributions | $97,674 |
| Other employee benefits | $219,593 |
| Payroll taxes | $60,338 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $31,542 |
| Fees for services: Accounting | $353,824 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,320,063 |
| Fees for services: Other | $20,159 |
| Advertising and promotion | $76,674 |
| Office expenses | $86,475 |
| Information technology | $45,793 |
| Royalties | $0 |
| Occupancy | $137,864 |
| Travel | $1,492 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,995 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,242 |
| Insurance | $102,453 |
| All other expenses | $1,239 |
| Total functional expenses | $19,515,895 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,205,041 |
| Savings and temporary cash investments | $21,985,143 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,626,980 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,082,835 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $55,181 |
| Net Land, buildings, and equipment | $9,511,758 |
| Investments—publicly traded securities | $191,928,835 |
| Investments—other securities | $278,012,038 |
| Investments—program-related | $5,508,554 |
| Intangible assets | $0 |
| Other assets | $21,508,942 |
| Total assets | $535,425,307 |
| Accounts payable and accrued expenses | $2,957,323 |
| Grants payable | $0 |
| Deferred revenue | $19,883,743 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $6,047,524 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,124,033 |
| Total liabilities | $37,012,623 |
| Net assets without donor restrictions | $457,180,437 |
| Net assets with donor restrictions | $41,232,247 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $535,425,307 |
Grants Recieved
Over the last fiscal year, we have identified 13 grants that Michigan State University Foundation has recieved totaling $1,031,985.
| Awarding Organization | Amount |
|---|---|
Cascade Hemophilia Consortium Ann Arbor, MI PURPOSE: SUPPORT FOR MEDICAL SERVICES FOR PERSONS WITH HEMOPHILIA AND RELATED BLEEDING DISORDERS | $257,615 |
Joe D Pentecost Foundation East Lansing, MI PURPOSE: ENDOWED SCHOLARSHIP, BUILDING RENOVATIONS | $250,000 |
Cascade Hemophilia Consortium Ann Arbor, MI PURPOSE: SUPPORT FOR MEDICAL SERVICES FOR PERSONS WITH HEMOPHILIA AND RELATED BLEEDING DISORDERS | $141,520 |
Toni A Wisne Foundation Novi, MI PURPOSE: USE CONSISTENT WITH 501(C)(3) STATUS | $100,000 |
Peter And Joan Secchia Family Inc Grand Rapids, MI PURPOSE: CLARA BELL SMITH EDUCATION CENTER | $100,000 |
Peter And Joan Secchia Family Inc Grand Rapids, MI PURPOSE: ATHLETIC DEPT TRAVEL FUND | $50,000 |
Endowment Analysis
| Beg. Balance | $2,110,599 |
| Earnings | $144,387 |
| Other Expense | $2,254,986 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Iu Medical Group Foundation Inc Indianapolis, IN | $256,189,183 | $45,380,536 |
Western Michigan University Foundation Kalamazoo, MI | $431,026,780 | $43,479,998 |
Pelotonia Columbuus, OH | $27,807,886 | $34,892,875 |
Miami University Foundation Inc Oxford, OH | $724,573,926 | $28,643,439 |
Bowling Green State University Foundation Inc Bowling Green, OH | $269,755,787 | $28,051,237 |
Ball State University Foundation Muncie, IN | $262,845,495 | $25,627,270 |
The University Of Toledo Foundation Toledo, OH | $690,162,176 | $41,543,760 |
Ics Support Organization Inc Franklin, WI | $552,959,577 | $28,861,342 |
Youngstown State University Foundation Youngstown, OH | $318,269,128 | $38,933,738 |
Michigan State University Foundation East Lansing, MI | $535,425,307 | $55,850,938 |
Ivy Tech Foundation Inc Indianapolis, IN | $133,152,328 | $30,082,278 |
Kent State University Foundation Kent, OH | $245,939,628 | $27,886,498 |