Idaho State University Foundation Inc
- Assets
- $103.4m
- Revenue
- $14.2m
- Investments
- $97.4m
- Employees
- 23
- Location
- Pocatello, ID
- Founding
- 10/1967
- Data as of
- 06/2021
- EIN
- 82-6013543
Organization Overview
Idaho State University Foundation Inc is located in Pocatello, ID. The organization was established in 1967. 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, Idaho State University Foundation Inc employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Idaho State University 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 06/2021, Idaho State University Foundation Inc generated $14.2m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.1% each year . All expenses for the organization totaled $10.2m during the year ending 06/2021. While expenses have increased by 5.4% per year over the past 6 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SOLICIT, HOLD AND MANAGE DONATIONS FOR IDAHO STATE UNIVERSITY.
Describe the Organization's Program Activity:
THE IDAHO STATE UNIVERSITY FOUNDATION, INC. (THE FOUNDATION) AND SUBSIDIARY WAS FORMED IN MARCH 1967. THE FOUNDATION IS A NOT-FOR-PROFIT CORPORATION INCORPORATED IN ACCORDANCE WITH THE LAWS OF THE STATE OF IDAHO AND IS MANAGED BY A VOLUNTEER BOARD OF DIRECTORS. UNDER THE IDAHO STATE BOARD OF EDUCATION'S ADMINISTRATIVE RULES THE FOUNDATION MUST BE INDEPENDENT OF, AND CANNOT BE CONTROLLED BY, IDAHO STATE UNIVERSITY (THE UNIVERSITY). OPERATING AND SERVICES AGREEMENTS BETWEEN THE FOUNDATION AND THE UNIVERSITY DEFINE THE RELATIONSHIP BETWEEN THE TWO ENTITIES IN ACCORDANCE WITH THE STATE BOARD OF EDUCATION'S RULES. THE MISSION OF THE FOUNDATION IS ACCOMPLISHED BY FOCUSING ON THREE PRIMARY SERVICE AREAS. (CONTINUED ON SCHEDULE O)ACADEMIC, DEVELOPMENT AND PROGRAM SUPPORT:THE FOUNDATION WORKS TO STIMULATE VOLUNTARY PRIVATE SUPPORT FROM ALUMNI, PARENTS, FRIENDS, CORPORATIONS, FOUNDATIONS, AND OTHERS FOR THE BENEFIT OF THE UNIVERSITY. THESE RESOURCES PROVIDE OPPORTUNITIES FOR STUDENTS AND A DEGREE OF INSTITUTIONAL EXCELLENCE UNAVAILABLE WITH STATE FUNDING LEVELS.ENDOWMENT AND PRIVATE RESOURCE MANAGEMENT:THE FOUNDATION MANAGES THE ENDOWMENT AND OTHER PRIVATELY DONATED FUNDS RECEIVED FOR THE BENEFIT OF THE UNIVERSITY AND ITS PROGRAMS. MANAGEMENT OF THESE RESOURCES INCLUDES SELECTION OF INVESTMENT ADVISORS,ESTABLISHING INVESTMENT TARGETS AND ALLOCATIONS, ENHANCING RETURNS ON INVESTED FUNDS, AND MANAGING CASH FLOWS TO MEET THE SPENDING NEEDS OF THE UNIVERSITY FROM ENDOWMENT AND OTHER FUNDS.
THE FOUNDATION HAD A SUBSIDIARY CORPORATION, BENGAL PHARMACY, LLC (THE PHARMACY). THE PHARMACY WAS FORMED AS A LIMITED LIABILITY COMPANY (LLC) WITH THE FOUNDATION AS THE SOLE MEMBER. THE PHARMACY WAS TRANSFERRED TO IDAHO STATE UNIVERSITY AS OF JUNE 30, 2021 AND THE PHARMACY IS NO LONGER A PROGRAM AS OF THAT DATE. THERE WAS NO CASH INCLUDED IN THE TRANSACTION THAT TRANSFERRED THE PHARMACY TO THE UNIVERSITY. THE TRANSFER WAS CONSIDERED A GIFT FROM THE FOUNDATION TO THE UNIVERSITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kyle Mcgowan Executive Vice President | Officer | 10 | $39,487 |
Brad Hall Left 092020 Secretary / Legal Counsel | OfficerTrustee | 6.5 | $18,800 |
Nate Cuoio From 092020 Legal Counsel | Officer | 6.5 | $18,800 |
Valerie Hoybjerg Left 072020 Past Chair Of The Board | OfficerTrustee | 2 | $0 |
David Jeppesen President | OfficerTrustee | 1.25 | $0 |
John Kent President Elect | OfficerTrustee | 2 | $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 | $9,955,896 |
| Noncash contributions included in lines 1a–1f | $1,181,197 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,955,896 |
| Total Program Service Revenue | $1,165,530 |
| Investment income | $1,988,740 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $210,058 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $856,676 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,176,900 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,155,630 |
| 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. | $33,214 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $470,707 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $24,005 |
| Fees for services: Management | $797,113 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $78,597 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $394,760 |
| Fees for services: Other | $167,466 |
| Advertising and promotion | $0 |
| Office expenses | $166,032 |
| Information technology | $191,321 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $27,745 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,034 |
| Interest | $127,757 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $30,806 |
| Insurance | $30,327 |
| All other expenses | $101,571 |
| Total functional expenses | $10,212,859 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $999,239 |
| Pledges and grants receivable | $3,609,423 |
| Accounts receivable, net | $43,598 |
| 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 | $92,663 |
| Net Land, buildings, and equipment | $330,793 |
| Investments—publicly traded securities | $126,439 |
| Investments—other securities | $97,428,379 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $750,019 |
| Total assets | $103,380,553 |
| Accounts payable and accrued expenses | $19,718 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $1,198,386 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,043,256 |
| Total liabilities | $5,261,360 |
| Net assets without donor restrictions | $3,951,119 |
| Net assets with donor restrictions | $94,168,074 |
| 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 | $103,380,553 |
Grants Awarded
Over the last fiscal year, Idaho State University Foundation Inc has awarded $7,155,630 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Pocatello, ID PURPOSE: Academic, athletic, and general support for the University | $7,113,630 |
IDAHO COLLEGE OF OSTEOPATHIC MEDICINE LLC PURPOSE: Scholarships | $42,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Idaho State University Foundation Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Family Foundation Inc Pocatello, ID PURPOSE: DONATION | $5,000 |
Endowment Analysis
| Beg. Balance | $58,999,191 |
| Earnings | $17,972,319 |
| Admin Expense | $390,228 |
| Net Contributions | $2,283,046 |
| Grants | $3,793,961 |
| Ending Balance | $75,070,367 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
U Of O Foundation Supporting Organization Eugene, OR | $394,248,848 | $33,595,955 |
University Of Nevada Las Vegas Foundation Las Vegas, NV | $436,194,901 | $57,839,511 |
Boise State University Foundation Inc Boise, ID | $181,429,408 | $23,699,772 |
University Of Montana Foundation Missoula, MT | $300,141,439 | $43,572,466 |
University Of Idaho Foundation Inc Moscow, ID | $461,396,601 | $57,102,014 |
Portland State University Foundation Portland, OR | $160,720,485 | $33,116,092 |
Montana State University Foundation Bozeman, MT | $271,741,291 | $31,692,855 |
Wgu Advancement Salt Lake City, UT | $262,529 | $10,776,481 |
University Of Utah Research Foundation Salt Lake City, UT | $360,749,047 | $26,132,674 |
Idaho State University Foundation Inc Pocatello, ID | $103,380,553 | $14,176,900 |
Choice Regional Health Network Olympia, WA | $24,377,222 | $13,582,793 |
Casper College Foundation Casper, WY | $118,882,238 | $11,522,950 |