MIDWESTERN STATE UNIVERSITY FOUNDATION INC: Form 990, tax year 2022
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- Organization
- MIDWESTERN STATE UNIVERSITY FOUNDATION INC (EIN 75-1101337)
- Tax period
- 2022-09-01 to 2023-08-31
- Filed
- 2024-07-15
- IRS object ID
- 202401979349301330
- Schema version
- 2022v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-07-15T11:45:55-05:00 | ReturnTs |
| Tax Period End | 2023-08-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 750706311 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Freemon Shapard & Story | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 807 8th Street 2nd Floor | AddressLine1Txt |
| City | Wichita Falls | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 763013381 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2022-09-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 751101337 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Midwestern State University Foundation | BusinessNameLine1Txt |
| Business Name Line2 | Inc | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | MIDW | BusinessNameControlTxt |
| Phone | 9403224436 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 807 8th Street 2nd Floor | AddressLine1Txt |
| City | Wichita Falls | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 763013381 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Kevin O'Connell | PersonNm |
| Person Title | Chairman/Trustee | PersonTitleTxt |
| Phone | 9403224436 | PhoneNum |
| Signature | 2024-07-10 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | Kevin | PersonFirstNm |
| Person Last | OConnell | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Mac Cannedy | PreparerPersonNm |
| PTIN | P00123468 | PTIN |
| Phone | 9403224436 | PhoneNum |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2022 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | Kevin O'Connell | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | C/O 807 8th Street 2nd Floor | AddressLine1Txt |
| City | Wichita Falls | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 76301 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $19,168,916 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | N/A | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1960 | FormationYr |
| Legal Domicile State | TX | LegalDomicileStateCd |
| Activity Or Mission | To receive contributions by means of donations, gifts, and bequests and to expend such funds for the advancement of the literary, scientific, and other educational endeavors of Midwestern State University, a tax exempt institution of higher learning. | ActivityOrMissionDesc |
| Voting Members Governing Body | 12 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 12 | VotingMembersIndependentCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $982,076 | PYContributionsGrantsAmt |
| CY Contributions Grants | $3,686,058 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $0 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $0 | CYProgramServiceRevenueAmt |
| PY Investment Income | $3,728,325 | PYInvestmentIncomeAmt |
| CY Investment Income | $2,962,910 | CYInvestmentIncomeAmt |
| PY Other Revenue | $2,009 | PYOtherRevenueAmt |
| CY Other Revenue | $1,718 | CYOtherRevenueAmt |
| PY Total Revenue | $4,712,410 | PYTotalRevenueAmt |
| CY Total Revenue | $6,650,686 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $1,284,704 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $2,389,369 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $0 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $0 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $598,525 | PYOtherExpensesAmt |
| CY Other Expenses | $588,485 | CYOtherExpensesAmt |
| PY Total Expenses | $1,883,229 | PYTotalExpensesAmt |
| CY Total Expenses | $2,977,854 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $2,829,181 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $3,672,832 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $64,205,017 | TotalAssetsBOYAmt |
| Total Assets EOY | $71,288,656 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $9,172 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $0 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $64,195,845 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $71,288,656 | NetAssetsOrFundBalancesEOYAmt |
| Mission | To receive contributions by means of donations, gifts, and bequests and to expend such funds for the advancement of the literary, scientific, and other educational endeavors of Midwestern State University, a tax exempt institution of higher learning. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $966,533 | ExpenseAmt |
| Grant | $966,533 | GrantAmt |
| Desc | Awarding scholarships to qualified students on the basis of need and merit. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $1,422,836 | ExpenseAmt |
| Grant | $1,422,836 | GrantAmt |
| Desc | Funding of various special projects of the University. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $2,389,369 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | Yes (1) | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | 0 | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | 0 | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | 0 | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | 0 | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | Yes (1) | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 5 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 0 | EmployeeCnt |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Form8899 Filedind | 1 | Form8899Filedind |
| Form1098 C Filed | Yes (1) | Form1098CFiledInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 12 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 12 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | 0 | WhistleblowerPolicyInd |
| Document Retention Policy | 0 | DocumentRetentionPolicyInd |
| Compensation Process CEO | 0 | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Freemon Shapard & Story | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 9403224436 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 807 8th Street 2nd Floor | AddressLine1Txt |
| City | Wichita Falls | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 76301 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| No Listed Persons Compensated | Yes (X) | NoListedPersonsCompensatedInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (12 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt |
|---|---|---|---|---|---|---|
| Kevin O'Connell | ||||||
| Chairman | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| Anthony Inman | ||||||
| Vice Chairman | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| David Welch | ||||||
| Treasurer | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| Teresa Caves | ||||||
| Secretary | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| Warren Ayres | ||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Darrell Coleman | ||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Reno Gustafson | ||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Mac Cannedy Jr | ||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Erwin Davenport | ||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Kay Yeager | ||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Martha Fain | ||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Butch Ford | ||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $0 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $0 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | 0 | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (3 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| American National Bank (CYE 123122) | |||||
| 2732 Midwestern Parkway | Wichita Falls | TX | 76308 | Investment Services | $175,993 |
| Stifel (CYE 123122) | |||||
| 2525 Kell Blvd | Wichita Falls | TX | 76308 | Investment Services | $121,093 |
| Freemon Shapard & Story (CYE 123122) | |||||
| 807 8th Street 2nd Floor | Wichita Falls | TX | 76301 | Accounting Services | $120,660 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 3 | CntrctRcvdGreaterThan100KCnt |
| All Other Contributions | $3,686,058 | AllOtherContributionsAmt |
| Noncash Contributions | $69,715 | NoncashContributionsAmt |
| Total Contributions | $3,686,058 | TotalContributionsAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,402,437 | TotalRevenueColumnAmt |
| Exclusion | $1,402,437 | ExclusionAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,718 | TotalRevenueColumnAmt |
| Exclusion | $1,718 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $14,078,703 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $12,518,230 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $1,560,473 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,560,473 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $1,560,473 | RelatedOrExemptFuncIncomeAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $6,650,686 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $1,560,473 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $1,404,155 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,389,369 | TotalAmt |
| Program Services | $2,389,369 | ProgramServicesAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $113,000 | TotalAmt |
| Management And General | $113,000 | ManagementAndGeneralAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $277,129 | TotalAmt |
| Management And General | $277,129 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $223 | TotalAmt |
| Management And General | $223 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|
| MSU Admin Fees | $174,131 | $174,131 |
| Taxes Foreign | $17,507 | $17,507 |
| Adr Fees | $4,522 | $4,522 |
| Taxes Ad Valorem | $1,950 | $1,950 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $23 | TotalAmt |
| Management And General | $23 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,977,854 | TotalAmt |
| Program Services | $2,389,369 | ProgramServicesAmt |
| Management And General | $588,485 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,250 | BOYAmt |
| EOY | $30,346 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,905,615 | BOYAmt |
| EOY | $3,334,544 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,704,185 | BOYAmt |
| EOY | $838,016 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $77,012 | BOYAmt |
| EOY | $80,408 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,883 | BOYAmt |
| EOY | $10,431 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $57,358,115 | BOYAmt |
| EOY | $66,821,027 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $138,102 | BOYAmt |
| EOY | $168,293 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,855 | BOYAmt |
| EOY | $5,591 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $64,205,017 | BOYAmt |
| EOY | $71,288,656 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,172 | BOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,172 | BOYAmt |
| EOY | $0 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $255,132 | BOYAmt |
| EOY | $578,700 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $63,940,713 | BOYAmt |
| EOY | $70,709,956 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $64,195,845 | BOYAmt |
| EOY | $71,288,656 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $64,205,017 | BOYAmt |
| EOY | $71,288,656 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $3,672,832 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $3,419,979 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| College Organization | Yes (X) | CollegeOrganizationInd |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $863,673 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $239,980 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $299,283 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $982,076 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $3,686,058 | CurrentTaxYearAmt |
| Total | $6,071,070 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $863,673 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $239,980 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $299,283 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $982,076 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $3,686,058 | CurrentTaxYearAmt |
| Total | $6,071,070 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantial Contributors Tot | $2,168,963 | SubstantialContributorsTotAmt |
| Public Support Total170 | $3,902,107 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $737,124 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $721,070 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $426,179 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $1,001,898 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $1,404,155 | CurrentTaxYearAmt |
| Total | $4,290,426 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $10,361,496 | TotalSupportAmt |
| Public Support CY170 | 0.37660 | PublicSupportCY170Pct |
| Public Support PY170 | 0.39860 | PublicSupportPY170Pct |
| Thirty Thr Pct Suprt Tests CY170 | Yes (X) | ThirtyThrPctSuprtTestsCY170Ind |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
CY Endwmt Fund CYEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $63,344,932 | BeginningYearBalanceAmt |
| Contributions | $3,686,058 | ContributionsAmt |
| Investment Earnings Or Losses | $5,291,880 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $2,297,998 | GrantsOrScholarshipsAmt |
| End Year Balance | $70,024,872 | EndYearBalanceAmt |
CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $71,518,250 | BeginningYearBalanceAmt |
| Contributions | $982,076 | ContributionsAmt |
| Investment Earnings Or Losses | -$7,902,400 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $1,252,994 | GrantsOrScholarshipsAmt |
| End Year Balance | $63,344,932 | EndYearBalanceAmt |
CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $29,807,195 | BeginningYearBalanceAmt |
| Contributions | $299,283 | ContributionsAmt |
| Investment Earnings Or Losses | $3,585,860 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $1,242,505 | GrantsOrScholarshipsAmt |
| End Year Balance | $32,449,833 | EndYearBalanceAmt |
CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $31,262,206 | BeginningYearBalanceAmt |
| Contributions | $239,980 | ContributionsAmt |
| Investment Earnings Or Losses | -$578,882 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $1,116,109 | GrantsOrScholarshipsAmt |
| End Year Balance | $29,807,195 | EndYearBalanceAmt |
CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $32,362,861 | BeginningYearBalanceAmt |
| Contributions | $863,673 | ContributionsAmt |
| Investment Earnings Or Losses | -$902,616 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $538,603 | GrantsOrScholarshipsAmt |
| Other Expenditures | $523,108 | OtherExpendituresAmt |
| End Year Balance | $31,262,206 | EndYearBalanceAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated Balance EOY | 0.04394 | BoardDesignatedBalanceEOYPct |
| Prmnnt Endowment Balance EOY | 0.81755 | PrmnntEndowmentBalanceEOYPct |
| Term Endowment Balance EOY | 0.13851 | TermEndowmentBalanceEOYPct |
| Endowments Held Unrelated Org | 0 | EndowmentsHeldUnrelatedOrgInd |
| Endowments Held Related Org | 0 | EndowmentsHeldRelatedOrgInd |
| Total Book Value Land Buildings | $0 | TotalBookValueLandBuildingsAmt |
| Total Rev Etc Audited Fincl Stmt | $10,070,665 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $3,419,979 | NetUnrealizedGainsInvstAmt |
| Revenue Not Reported | $3,419,979 | RevenueNotReportedAmt |
| Revenue Subtotal | $6,650,686 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $6,650,686 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $2,977,854 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $2,977,854 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $2,977,854 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Part V, Line 4: | FormAndLineReferenceDesc |
| Explanation | Endowment funds will be held/used in accordance with individual fund donor agreements. | ExplanationTxt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Valuation Method UsedValuationMethodUsedDesc | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|---|---|
| Midwestern State University | |||||||||
| 3410 Taft Blvd | Wichita Falls | TX | 76308 | 756001738 | 170(b)(1)(A)(vi) | $966,533 | $0 | cash | Funds to be expended on scholarships as designated in scholarship agreements. |
| Midwestern State University | |||||||||
| 3410 Taft Blvd | Wichita Falls | TX | 76308 | 756001738 | 170(b)(1)(A)(vi) | $1,422,836 | $0 | cash | Funds to be expended on special projects of the University as designated in the fund agreements. |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 1 | Total501c3OrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Part I, Line 2: | FormAndLineReferenceDesc |
| Explanation | The Foundation Board monitors the use of grant funds by corresponding with appropriate coordinating personnel at Midwestern State University to ensure that all scholarships are being disbursed according to agreement guidelines. The Foundation receives an annual audit which also checks procedures and disbursements. | ExplanationTxt |
Schedule M IRS990ScheduleM
Securities Publicly Traded SecuritiesPubliclyTradedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 2 | ContributionCnt |
| Noncash Contributions Rpt F990 | $69,715 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | Fair Market Value | MethodOfDeterminingRevenuesTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeldInd |
| Review Process Unusual NC Gifts | 0 | ReviewProcessUnusualNCGiftsInd |
| Third Parties Used | Yes (1) | ThirdPartiesUsedInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Part I, Line 32b: | FormAndLineReferenceDesc |
| Explanation | The Foundation uses Stifel, its brokerage firm, to process and sell non-cash contributions as needed to stay aligned with the current investment policy of the Foundation. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (5 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part VI, Section B, line 11b | A copy of the 990 is received and reviewed for accuracy and completeness by the Chairman and Board before filing. |
| Form 990, Part VI, Section B, line 12c | Interested persons annually review and sign the conflict of interest policy and statement. |
| Form 990, Part VI, Section C, line 19 | The organization makes information available to the public upon request. |
| Form 990, Part XII, Line 2c: | No change from prior year. |
| Schedule D Part V Line 1A Prior Year | Upon approval from both entities, the MSU Charitable Trust merged into the original MSU Foundation September 1, 2021. The beginning of the year balance reflects the resulting assets of the Foundation after the merger. |
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