Msu Foundation Inc
- Assets
- $85.0m
- Revenue
- $10.2m
- Investments
- $56.4m
- Employees
- 1
- Location
- Morehead, KY
- Founding
- 03/1981
- Data as of
- 06/2024
- EIN
- 31-1003236
Organization Overview
Msu Foundation Inc is located in Morehead, KY. The organization was established in 1981. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Msu Foundation Inc 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 06/2024, Msu Foundation Inc generated $10.2m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.2%) each year. All expenses for the organization totaled $6.7m during the year ending 06/2024. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORT OF MOREHEAD STATE UNIVERSITY THROUGH FUNDRAISING AND ADMINISTRATIVE SUPPORT
Describe the Organization's Program Activity:
Part 3 - Line 4a
GENERAL FUND - PROVIDED ASSISTANCE TO THE VARIOUS ACADEMIC PROGRAMS AT MOREHEAD STATE UNIVERSITY.
ENDOWMENT FUND - PROVIDED SUPPORT TO MOREHEAD STATE UNIVERSITY FOR PROFESSORSHIPS, CHAIRS, AND RESEARCH PROJECTS.
SCHOLARSHIP FUND - PROVIDED SCHOLARSHIPS FOR ELIGIBLE STUDENTS AT MOREHEAD STATE UNIVERSITY.
EAGLE ATHLETIC FUND - PROVIDED ASSISTANCE TO THE VARIOUS SPORTS PROGRAMS AT MOREHEAD STATE UNIVERSITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Perry Allen Board Chair | Trustee | 1 | $0 |
Mr Andrew Jones Vice Chair | Trustee | 1 | $0 |
Mr Bob Albert Treasurer | Trustee | 1 | $0 |
Mr Brett Traver Trustee | Trustee | 1 | $0 |
Mr Rick Hesterberg Foundation, CEO | OfficerTrustee | 1 | $0 |
Mr Ronald Cartee Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $57,263 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,203,949 |
| Noncash contributions included in lines 1a–1f | $211,170 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,261,212 |
| Total Program Service Revenue | $0 |
| Investment income | $1,204,179 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $12,738 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $848,293 |
| Net Income from Fundraising Events | -$15,450 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,191,156 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,874,426 |
| Grants and other assistance to domestic individuals. | $1,045,507 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $224,196 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $18,572 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,343 |
| Fees for services: Accounting | $25,149 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $339,100 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $36,376 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $24,816 |
| Insurance | $12,167 |
| All other expenses | $78,391 |
| Total functional expenses | $6,693,927 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $580,658 |
| Savings and temporary cash investments | $180,745 |
| Pledges and grants receivable | $5,535,402 |
| Accounts receivable, net | $8,990 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,531,442 |
| Investments—publicly traded securities | $20,740,316 |
| Investments—other securities | $56,447,545 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $85,025,098 |
| Accounts payable and accrued expenses | $86,628 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $13,123,309 |
| Total liabilities | $13,209,937 |
| Net assets without donor restrictions | -$2,644,968 |
| Net assets with donor restrictions | $74,460,129 |
| 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 | $85,025,098 |