Wayne State Foundation
- Assets
- $41.1m
- Revenue
- $6.4m
- Investments
- $109.0k
- Employees
- 7
- Location
- Wayne, NE
- Founding
- 06/1963
- Data as of
- 06/2023
- 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 06/2023, 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 06/2023, Wayne State Foundation generated $6.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $5.8m during the year ending 06/2023. While expenses have increased by 4.6% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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
2023
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 |
|---|---|---|---|
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 | |
Name Not Listed Trustee | 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 | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,969,137 |
| Noncash contributions included in lines 1a–1f | $21,283 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,969,137 |
| Total Program Service Revenue | $41,553 |
| Investment income | $1,350,071 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $14,296 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $19,668 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,398,455 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,682,483 |
| 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. | $173,811 |
| Compensation of current officers, directors, key employees. | $72,923 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $450,386 |
| Pension plan accruals and contributions | $32,851 |
| Other employee benefits | $76,494 |
| Payroll taxes | $40,261 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $670 |
| Fees for services: Accounting | $16,532 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $45,874 |
| Fees for services: Other | $16,240 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $45,228 |
| Royalties | $0 |
| Occupancy | $2,642 |
| Travel | $62,387 |
| 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 | $4,625 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $5,803,578 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,743,397 |
| Savings and temporary cash investments | $3,680,510 |
| Pledges and grants receivable | $2,945,899 |
| 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 | $2,403 |
| Net Land, buildings, and equipment | $280,867 |
| Investments—publicly traded securities | $31,228,831 |
| Investments—other securities | $108,989 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $88,068 |
| Total assets | $41,078,964 |
| Accounts payable and accrued expenses | $157,518 |
| Grants payable | $0 |
| Deferred revenue | $6,270 |
| 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 | $96,693 |
| Total liabilities | $260,481 |
| Net assets without donor restrictions | $3,246,279 |
| Net assets with donor restrictions | $37,572,204 |
| 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 | $41,078,964 |
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 |