Wayne State University
- Assets
- $421.0m
- Revenue
- $23.1m
- Investments
- $78.3m
- Employees
- 0
- Location
- Detroit, MI
- Founding
- 09/1961
- Data as of
- 09/2020
- EIN
- 38-3555142
Organization Overview
Wayne State University is located in Detroit, MI. The organization was established in 1961. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Wayne State University is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
WAYNE STATE UNIVERSITY FOUNDATION WAS ESTABLISHED TO BE A CENTRALIZED MEANS OF ENCOURAGING AND MANAGING FINANCIAL SUPPORT TO WAYNE STATE UNIVERSITY. THIS SUPPORT ALLOWS WAYNE STATE UNIVERSITY TO PROVIDE ITS STUDENTS, FACULTY, AND SCIENTISTS WITH OPPORTUNITIES FOR LEARNING AND DISCOVERY THAT OTHERWISE WOULD NOT HAVE BEEN FINANCIALLY POSSIBLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE FINANCIAL SUPPORT FOR THE OPERATIONS AND OBJECTIVES OF WAYNE STATE UNIVERSITY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
M Roy Wilson MD Ms University President | Officer | 15 | $0 |
Neco T Walker Secretary | Officer | 15 | $0 |
Susan E Burns President | Officer | 15 | $0 |
Bryan Dadey Assistant Treasurer (part Year) | Officer | 15 | $0 |
Marianne Cunningham Assistant Treasurer | Officer | 15 | $0 |
Rebecca Cooke Interim Treasurer | Officer | 15 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ss&c Investment Management Services | 9/29/21 | $113,349 |
Strategic Investment Management Llc St Investment Management Services | 9/29/21 | $1,403,846 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,126,278 |
| Investment income | $4,248,039 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,737,192 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $23,111,509 |
| Statement of Expenses | |
|---|---|
| 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. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,935,577 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $18,798,342 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,510,534 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $249,801 |
| 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 |
| Investments—publicly traded securities | $338,915,999 |
| Investments—other securities | $78,317,972 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $420,994,306 |
| Accounts payable and accrued expenses | $349,305 |
| 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 | $0 |
| Total liabilities | $349,305 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $420,645,001 |
Grants Recieved
Over the last fiscal year, we have identified 14 grants that Wayne State University has recieved totaling $171,117.
| Awarding Organization | Amount |
|---|---|
Walter S Meyers & Margaret L Meyers Charitable Foundation Ii Dallas, TX PURPOSE: UNRESTRICTED GENERAL | $48,806 |
Baiardi Family Foundation Inc Harbor Springs, MI PURPOSE: FUND FOR SPEECH AND LANGUAGE CLINICS | $30,000 |
Joanne Nicolay Foundation Grosse Pointe, MI PURPOSE: GENERAL SUPPORT | $26,000 |
S Gary Spicer Sr Foundation Grosse Pointe, MI PURPOSE: GENERAL SUPPORT | $15,500 |
Flip Wilson Scholarship Fund Trust Beverly Hills, CA PURPOSE: CHARITABLE CONTRIBUTION | $14,000 |
Myer & Lois Franklin Charitable Tr Jackson, MI PURPOSE: SCHOLARSHIP | $6,500 |
Endowment Analysis
| Beg. Balance | $420,645,001 |
| Earnings | $99,501,707 |
| Admin Expense | $1,517,196 |
| Net Contributions | $13,282,746 |
| Other Expense | $1,774,896 |
| Grants | $16,005,257 |
| Ending Balance | $514,132,105 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cardinal Stritch University Inc Milwaukee, WI | $44,442,025 | $43,591,088 |
Mount Mary University Inc Milwaukee, WI | $76,484,409 | $43,016,464 |
Lake Erie College Painesville, OH | $81,401,421 | $39,379,084 |
University Of Rio Grande Rio Grande, OH | $39,998,675 | $32,716,983 |
Uwm Foundation Inc Milwaukee, WI | $248,807,614 | $23,105,220 |
Wayne State University Detroit, MI | $420,994,306 | $23,111,509 |
Union Institute & University Cincinnati, OH | $9,527,741 | $17,880,804 |
Maranatha Baptist University Inc Watertown, WI | $23,775,385 | $19,476,702 |
Holy Family College Inc Manitowoc, WI | $6,992,394 | $12,349,410 |
Cleveland State University Foundation Cleveland, OH | $110,232,117 | $11,409,961 |
Baker College Flint, MI | $17,867,262 | $11,641,595 |
Martin University Inc Indianapolis, IN | $11,458,178 | $6,489,319 |