Wayne State Foundation
- Assets
- $38.4m
- Revenue
- $5.6m
- Investments
- $109.0k
- Employees
- 7
- Location
- Wayne, NE
- Founding
- 06/1963
- Data as of
- 06/2022
- EIN
- 47-6032870
Organization Overview
Wayne State Foundation is located in Wayne, NE. The organization was established in 1963. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2022, Wayne State Foundation employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wayne State 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 06/2022, Wayne State Foundation generated $5.6m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $4.9m during the year ending 06/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO AID, ASSIST & PROMOTE EDUCATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO AID, ASSIST, & PROMOTE EDUCATIONAL PROGRAMS, FACULTY, EMPLOYEES, AND STUDENTS BY GRANTING SCHOLARSHIPS, GRANTS, AND STUDENT LOANS AND COLLEGE SUPPORT FOR THE BENEFIT OF A PUBLIC COLLEGE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Armstrong Chief Executive Officer | Officer | 40 | $125,229 |
Brenda Carhart Vice President | OfficerTrustee | 0 | $0 |
Donald Koeber President | OfficerTrustee | 0 | $0 |
Bill Dickey Secretary/treasurer | OfficerTrustee | 0 | $0 |
Name Not Listed Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $121,363 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,105,504 |
| Noncash contributions included in lines 1a–1f | $37,440 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,226,867 |
| Total Program Service Revenue | $43,968 |
| Investment income | $313,673 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $4,453 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $19,560 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,612,545 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,819,504 |
| 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. | $169,741 |
| Compensation of current officers, directors, key employees. | $77,710 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $411,382 |
| Pension plan accruals and contributions | $31,391 |
| Other employee benefits | $74,464 |
| Payroll taxes | $39,748 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,165 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $64,392 |
| Fees for services: Other | $15,247 |
| Advertising and promotion | $0 |
| Office expenses | $7,815 |
| Information technology | $35,769 |
| Royalties | $0 |
| Occupancy | $2,815 |
| Travel | $48,259 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,914 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,625 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $4,876,224 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,235,579 |
| Savings and temporary cash investments | $4,355,261 |
| Pledges and grants receivable | $1,674,399 |
| Accounts receivable, net | $0 |
| 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 | $5,259 |
| Net Land, buildings, and equipment | $425,042 |
| Investments—publicly traded securities | $28,505,711 |
| Investments—other securities | $108,989 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $93,855 |
| Total assets | $38,404,095 |
| Accounts payable and accrued expenses | $97,479 |
| Grants payable | $0 |
| Deferred revenue | $2,980 |
| 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 | $110,390 |
| Total liabilities | $210,849 |
| Net assets without donor restrictions | $3,797,402 |
| Net assets with donor restrictions | $34,395,844 |
| 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 | $38,404,095 |
Grants Awarded
Over the last fiscal year, Wayne State Foundation has awarded $5,732,729 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
WAYNE STATE COLLEGE PURPOSE: To assist in the operations of the college. | $5,727,729 |
NORTHEAST COMMUNITY COLLEGE PURPOSE: To help provide access to affordable comprehensive programs for associate, bachelor and master's degrees in South Sioux City, NE. To facilitate these educational programs, they have constructed a building, which is referred to as the College Center. | $5,000 |
Grants Recieved
Over the last fiscal year, we have identified 21 grants that Wayne State Foundation has recieved totaling $1,517,962.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $500,775 |
Gardner Foundation Wakefield, NE PURPOSE: OUTREACH | $450,000 |
Sunderland Foundation Overland Park, KS PURPOSE: RENOVATE PETERSON FINE ARTS BUILDING | $200,000 |
Robert B Daugherty Foundation Omaha, NE PURPOSE: CAPITAL PROJECT | $200,000 |
Gardner Foundation Wakefield, NE PURPOSE: SCHOLARSHIPS | $75,000 |
Gardner Foundation Wakefield, NE PURPOSE: BASEBALL PROGRAM | $30,000 |
Endowment Analysis
| Beg. Balance | $31,388,104 |
| Earnings | -$3,626,490 |
| Net Contributions | $1,510,645 |
| Other Expense | $1,379,911 |
| Ending Balance | $27,892,348 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Presentation College Aberdeen, SD | $36,433,181 | $19,581,252 |
Midamerica Nazarene University Foundation Olathe, KS | $20,829,524 | $7,052,350 |
Hesston College Hesston, KS | $47,175,032 | $22,871,395 |
York University York, NE | $42,566,990 | $20,406,355 |
Bethel College North Newton, KS | $59,328,211 | $18,634,456 |
Central Christian College Of Kansas McPherson, KS | $17,285,133 | $16,231,650 |
Cox College Springfield, MO | $0 | $12,064,783 |
Donnelly College Kansas City, KS | $34,086,327 | $8,989,626 |
Barclay College Association Inc Haviland, KS | $19,652,665 | $8,959,124 |
Faith Baptist Bible College Ankeny, IA | $19,003,759 | $8,759,376 |
Emmaus Bible College Dubuque, IA | $12,932,939 | $8,386,656 |
Fort Lewis College Foundation Durango, CO | $38,090,331 | $11,431,239 |