2022-05-16T12:01:19-05:00 2021-06-30 350921680 CROWE LLP 155 West Nationwide Blvd Suite 500 Columbus OH 432152570 990 2020-07-01 237019799 Wright State University Foundation Inc WRIG 9377752869 3640 Colonel Glenn Hwy Suite 100 Dayton OH 454350001 Robert T Batson CFO 2022-05-16 true Robert T Batson 999009999 RACHEL SPURLOCK P00520729 6144690001 2020 2022-09-23 18:48:47Z R Scott Rash 3640 Colonel Glenn Hwy Suite 100 Dayton OH 454350001 14287505 false X www.wright.edu/giving/about-the-foundation X 1966 OH We are the successors of a group of far-sighted Dayton community leaders who, in 1966, formed a separately incorporated not-for-profit foundation to encourage private donations to Wright State University. Today as then, the WSU Foundation's sole mission is to raise and distribute private support to help the University accomplish its strategic goals. We manage over $150 million in assets so generously provided by our alumni and other community partners. As a qualified charitable organization, the WSU Foundation is exempt from taxes under Section 501(c)(3) of the Internal Revenue Code and annually files a Form 990 with the IRS. Our financial records are subjected to an annual audit by an outside, independent accounting firm. For copies of our latest Form 990s and audited financial statements, as well as other Foundation governing documents, please see our web site at: https://www.wright.edu/giving/documents-and-financial-reports. 29 29 4 40 19087 1556 10055494 3259650 0 5809371 9894444 106646 147922 15971511 13302016 7558441 5627705 0 924094 1059168 0 620163 1593517 1409899 10076052 8096772 5895459 5205244 137644851 166064682 2904211 3505349 134740640 162559333 X We are the successors of a group of far-sighted community leaders who, in 1966, formed a separately incorporated not-for-profit foundation to encourage private donations to Wright State University. Today as then, the WSU Foundation's sole mission is to raise, manage and distribute private support to help the University accomplish its strategic goals. Our most recent campaign, "Rise. Shine. The Campaign for Wright State University." successfully raised over $167 million in private support. We manage over $160 million in assets so generously provided by our alumni and other community partners, and annually distribute millions of dollars to the University in support of its students, faculty and programs. false false 3072025 3072025 STUDENTS AT WRIGHT STATE UNIVERSITY RECEIVE A QUALITY EDUCATION THAT IS PAID PARTLY BY TUITION AND PARTLY BY STATE SUBSIDY. THE LATTER REVENUE SOURCE HAS DECLINED IN RECENT YEARS THEREBY MAKING IT MORE DIFFICULT TO FINANCE A COLLEGE EDUCATION. ALTHOUGH WRIGHT STATE REMAINS ONE OF THE MOST AFFORDABLE PUBLIC INSTITUTIONS IN OHIO, THE FOUNDATION SEEKS TO OFFSET THE LOSS OF STATE TUITION SUBSIDIES BY RAISING PRIVATE CONTRIBUTIONS IN SUPPORT OF STUDENT TUITION PAYMENTS. DISTRIBUTIONS OF STUDENT FINANCIAL AID TOTALED $3,072,025 DURING THE YEAR. 1868056 1868056 DONATED RESOURCES FOR VARIOUS ACADEMIC AND SUPPORT FUNCTIONS AT WRIGHT STATE UNIVERSITY ALLOWS ADMINISTRATORS FLEXIBILITY TO DELIVER QUALITY PROGRAMS TO THEIR CONSTITUENCIES. THESE CONTRIBUTIONS SUPPLEMENT THE UNIVERSITY'S BUDGET ALLOCATION AND ALLOW PROGRAM MANAGERS TO OFFER UNIQUE AND CREATIVE LEARNING OPPORTUNITIES FOR STUDENTS. DURING THE CURRENT YEAR, 52% OF EXPENSES IN THIS AREA RELATED TO PARTIAL OR COMPLETE SUPPORT OF PROGRAM PERSONNEL THAT OTHERWISE WOULD NOT HAVE BEEN SUPPORTED BY THE UNIVERSITY'S OPERATING BUDGET. PROCEEDS IN THIS AREA ARE ALSO USED TO CONSTRUCT, RENOVATE AND REHABILITATE UNIVERSITY FACILITIES. 428695 428695 SCHOLARLY RESEARCH IS A CORE PART OF WRIGHT STATE UNIVERSITY'S MISSION. THE FOUNDATION SEEKS TO ENHANCE FUNDING FOR THESE ACTIVITIES BY RAISING PRIVATE SUPPORT THAT PROVIDES PERSONNEL AND OPERATING COST COVERAGE FOR VARIOUS PROJECTS. MANY, ALTHOUGH NOT ALL, OF THE UNIVERSITY-SUPPORTED RESEARCH PROGRAMS ARE IN THE FIELD OF MEDICINE. THE AMOUNT OF RESEARCH SUPPORT PROVIDED BY THE FOUNDATION WAS $428,695. 218218 218218 71044 ATHLETIC PROGRAMS 40711 40711 THE FOUNDATION ENTERTAINS REQUESTS TO ASSIST WITH FUNDING VARIOUS UNIVERSITY PURCHASES AND PROJECTS FOR THE BETTERMENT OF THE ENTIRE CAMPUS COMMUNITY. THE MAJORITY OF EXPENSES IN THE CURRENT FISCAL YEAR WERE MADE IN SUPPORT OF THE UNIVERSITY'S VARIOUS PROMOTION, OUTREACH AND ENROLLMENT EFFORTS. 258929 258929 71044 5627705 true true false false false false false true true true true false false true true false true false false true false false false false false false true true true false false false false false false false false true false false false true true false false false true X 10 0 true 4 true true true false false false false true true false false false false false false X 29 29 true false true false false false false true true false false true true true true true true true true false X X Robert T Batson 9377752869 3640 Colonel Glenn Highway Dayton OH 454350001 Andrea Kunk Immediate Past Chair 1.0 X X 0 0 0 Bill Diederich Secretary 1.0 X X 0 0 0 Brian Kohr Treasurer 1.0 X X 0 0 0 David Deptula Chair 1.0 X X 0 0 0 Linda Black-Kurek Vice Chair 1.0 X X 0 0 0 Aaron Brautigam Trustee 1.0 X 0 0 0 Bob Reynolds Trustee 1.0 X 0 0 0 Chris Brookshire Trustee 1.0 X 0 0 0 Danielle Rolfes Trustee 1.0 X 0 0 0 David Donaldson Trustee 1.0 X 0 0 0 Doug Cook Trustee 1.0 X 0 0 0 Dr Samia Borchers Trustee 1.0 X 0 0 0 Gary McCullough Trustee 1.0 X 0 0 0 Gene Leber Trustee 1.0 X 0 0 0 Hernan Olivas Trustee 1.0 X 0 0 0 Holly Di Flora Trustee 1.0 X 0 0 0 Karla Garrett-Harshaw Trustee 1.0 X 0 0 0 Kristina Kean Trustee 1.0 X 0 0 0 Lauren MacGregor Trustee 1.0 X 0 0 0 Martha Balyeat Trustee 1.0 X 0 0 0 Matt Watson Trustee 1.0 X 0 0 0 Michael Bridges Trustee 1.0 X 0 0 0 Pamela vonMatthiessen Trustee 1.0 X 0 0 0 Randy Phillips Trustee 1.0 X 0 0 0 Rob Weisgarber Trustee 1.0 X 0 0 0 Sharon Rab Trustee 1.0 X 0 0 0 Tom Sheehan Trustee 1.0 X 0 0 0 Travis Greenwood Trustee 1.0 X 0 0 0 William Montgomery Trustee 1.0 X 0 0 0 Andrea Wall Assistant Secretary 40.0 X 61661 0 2148 R Scott Rash President & CEO 40.0 X 252672 0 22805 Robert T Batson CFO 40.0 X 134240 0 10193 448573 0 35146 2 false true false SEI 1 Freedom Valley Drive Oaks PA 19456 INVESTMENT MANAGER 702664 1 3259650 95180 3259650 0 0 0 0 0 4960367 19087 4941280 76878 76878 0 76878 76878 5919566 985489 4934077 0 4934077 4934077 Miscellaneous Income 900099 71044 71044 0 0 0 0 71044 13302016 71044 19087 9952235 2555680 2555680 3072025 3072025 496729 496729 328899 98184 230715 233540 152534 81006 30124 30124 36594 36594 710104 710104 72412 0 22043 50369 8723 7254 1469 281534 29227 252307 105234 105234 7201 3218 3983 118022 118022 MISCELLANEOUS 39951 39637 314 0 0 0 0 8096772 5627705 1848904 620163 2170778 1945321 7205300 5986400 0 0 0 0 2845763 918056 2045729 1927707 103677002 131492449 19519678 21058142 0 3026364 3654663 137644851 166064682 145915 223307 2031782 2434172 0 0 726514 847870 2904211 3505349 X 8534355 14046730 126206285 148512603 134740640 162559333 137644851 166064682 X 5205244 22276363 337086 X false true X true false X 4258691 4872470 4406457 10055494 3259650 26852762 0 0 4258691 4872470 4406457 10055494 3259650 26852762 3023659 23829103 3398806 4749388 6543673 6049839 5018158 25759864 26651 25879 4917 0 2840 60287 191278 173924 156501 31968 71044 624715 53297628 0 0.4471 0.4754 X Schedule A, Part II, Line 10 Other Income DESCRIPTION - OTHER INCOME, COLUMN A - 191278.0, COLUMN B - 173924.0, COLUMN C - 156501.0, COLUMN D - 31968.0, COLUMN E - 71044.0, COLUMN F - 624715.0; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true X 91645650 750791 24724119 4972497 112148063 93011676 3588517 -263014 4691529 91645650 92312291 842478 4296732 4439825 93011676 89786367 1209141 5633411 4316628 92312291 84808864 587739 9071998 4682234 89786367 0.0054 0.6162 0.3784 false false 173000 173000 2644131 889424 1754707 28632 28632 0 1927707 Limited Partnerships 372952 F Alternative Assets 20685190 F Private Placement Bonds 0 F 21058142 Due to Wright State University 496570 Annuities Payable 351300 847870 X 35205361 22276363 337086 22613449 12591912 710104 0 710104 13302016 7386668 0 0 7386668 710104 0 710104 8096772 Schedule D, Part IV, Line 2b Explanation of escrow agreement WSU Foundation holds and invests assets on behalf of the Western Ohio Education Foundation (WOEF) and the WSU Alumni Association (WSUAA). WOEF is the educational foundation that benefits the Lake Campus branch of Wright State University, located in Celina, Ohio. WSUAA is an association of former Wright State students that encourages continued interaction with the University. Both entities share proportionately in the investment earnings and losses of the WSU Foundation non-endowed portfolio, including fees charged by professional investment managers. Assets deposited by WOEF and WSUAA with the WSU Foundation may be withdrawn or supplemented at any time with little or no notice required. Assets on deposit at the end of the fiscal year are included in the "investments in securities" line of the WSU Foundation statement of activities. The related liability is listed as "deposits held in custody for others." Schedule D, Part V, Line 4 Intended uses of endowment funds Endowment funds have been established with the Foundation to support three major program areas; academic and support programs, student financial aid and research. Specifically, endowments fund program operations, student scholarships and awards, department chair positions, professorships, student support programs and individual research projects. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The Foundation has been approved under the Internal Revenue Code Section 501(c)(3) as a nonprofit organization exempt from federal taxes on its normal activities. However, the Foundation is subject to federal income tax on any unrelated business taxable income. The Foundation files tax returns in the U.S. federal jurisdiction. GAAP prescribes recognition thresholds and measurement attributes for the consolidated financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. A tax position is recognized as a benefit only if it is "more likely than not" that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the "more likely than not" test, no tax benefit is recorded. Management has concluded that they are unaware of any tax benefits or liabilities to be recognized at June 30, 2021 and 2020, respectively. The Foundation does not have any tax benefits recorded at June 30, 2021, and does not expect that position to significantly change in the next year. The Foundation would recognize interest and/or penalties related to income tax matters in income tax expense, if applicable, and there were no amounts accrued for interest and penalties at June 30, 2021 and 2020. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 CHANGE IN VALUE OF SPLIT INTEREST TRUSTS - 331888 CHANGE IN VALUE OF SURRENDER VALUE OF LIFE INSURANCE - 5198 Central America and the Caribbean 0 0 Investments 12997000 0 0 0 0 0 0 12997000 0 12997000 false false true true false false true WRIGHT STATE UNIVERSITY 3640 COLONEL GLENN HWY DAYTON OH 454350001 310732831 STATE UNIVERSITY 2555680 INSTITUTIONAL SUPPORT 1 0 SCHOLARSHIPS 1275 3072025 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. All expenditures of grant proceeds for program support, research, athletics and miscellaneous grants are subject to approval of the Foundation's CFO or his/her designee. Prior to approval, the CFO reviews the purpose of the expenditure in conjunction with donor restrictions as specified in gift agreements and other related gift documents. With respect to scholarship awards, grant proceeds are released to the Financial Aid Office of Wright State University, a related tax-exempt organization, which credits individual student accounts in the amount of scholarships awarded. X X false false false false false false false false false R Scott Rash President & CEO 251982 0 0 0 690 0 12634 0 10171 0 275477 0 0 0 X 8 95180 Market value 14 false true false Schedule M, Part I Explanations of reporting method for number of contributions Securities - Publicly traded - Number of contributions Form 990, Part III, Line 4d Description of other program services (Expenses $ 218,218 including grants of $ 218,218)(Revenue $ 71,044) ATHLETIC PROGRAMS Form 990, Part III, Line 4d Description of other program services (Expenses $ 40,711 including grants of $ 40,711) THE FOUNDATION ENTERTAINS REQUESTS TO ASSIST WITH FUNDING VARIOUS UNIVERSITY PURCHASES AND PROJECTS FOR THE BETTERMENT OF THE ENTIRE CAMPUS COMMUNITY. THE MAJORITY OF EXPENSES IN THE CURRENT FISCAL YEAR WERE MADE IN SUPPORT OF THE UNIVERSITY'S VARIOUS PROMOTION, OUTREACH AND ENROLLMENT EFFORTS. Form 990, Part V, Line 1c Required Federal Employment Tax Returns and Backup Withholding Wright State University Foundation, Inc. (WSUF) was incorporated to receive and hold gifts, grants and bequests of money and property for the benefit of Wright State University (WSU) and its students and faculty. WSUF has five employees of its own providing staff support. Although WSUF is a legally separate, tax-exempt entity, it has been determined that it does meet the criteria for discrete presentation within WSU's financial statements. Based on the IRS instructions for Schedule R, WSUF and WSU are not considered related based on the definitions provided. However, to provide transparency and clarity to the reader the Form 990 has been presented as WSUF and WSU being related entities to accurately reflect the on-going operations. Form 990, Part VI, Line 1a Delegate broad authority to a committee The Executive Committee is composed of the President & CEO (non-voting), Board Chair, Vice Chair, Treasurer, Secretary, Chairs of each of the standing committees (5) and an at-large Trustee. The Foundation's Code of Regulations authorizes the Executive Committee to exercise all of the authority of the Board of Trustees, but only in the intervals between meetings of the Board. Form 990, Part VI, Line 2 Family/business relationships amongst interested persons Andrea Kunk, Michael Bridges - Family relationship Form 990, Part VI, Line 4 Significant changes to organizational documents The Engagement Committee was added as a permanent standing committee of the Board. Form 990, Part VI, Line 11b Review of form 990 by governing body Prior to filing with the IRS, the Form 990 is reviewed by the Foundation's Audit Committee. The full document is presented to the Committee and staff provides an overview of the information contained in the report. Once the Audit Committee is satisfied that the form is accurately completed, it approves the form for filing. Prior to filing, the final version of the Form 990 is distributed to each member of the Foundation Board. Form 990, Part VI, Line 12c Conflict of interest policy Trustees of the Wright State University Foundation (the Foundation) are annually required to sign a conflict of interest policy statement and to disclose any potential conflicts that may exist. These disclosures are reviewed by the Foundation's CFO. This position is responsible for reviewing and approving all operating expenditures authorized by the annual Foundation budget. Such authorizations are made in light of the CFO's knowledge of conflict disclosures. Trustees are expected to abstain from self-dealing and any votes that may be biased by personal conflicts of interest. The annual disclosure procedure helps them identify and avoid such conditions. The Foundation's key employees are also required to complete a conflict of interest disclosure and to avoid involvement in any transactions which might involve a conflict. Form 990, Part VI, Line 15a Process to establish compensation of top management official The performance and compensation of the President/CEO of the organization is reviewed and approved by the Executive Committee of the Foundation Board of Trustees. The Board uses comparability data, surveys and other sources to determine compensation. The last compensation review was performed and documented in FY 2021. Form 990, Part VI, Line 15b Process to establish compensation of other employees THE EXECUTIVE COMMITTEE REVIEWS AND APPROVES THE PERFORMANCE AND COMPENSATION OF ALL OTHER OFFICERS/KEY EMPLOYEES. COMPARIBILITY DATA, SURVEYS AND OTHER SOURCES ARE USED TO DETREMINE COMPENSATION. THE LAST COMPENSATION REVIEW WAS PERFORMED AND DOCUMENTATED IN FY2021. Form 990, Part VI, Line 19 Required documents available to the public In general, documents maintained by Wright State University Foundation, Inc. (the Foundation) are subject to the State of Ohio's Public Records Law, which generally holds that all requests for documents will be fulfilled. The Foundation's annual financial statements, Form 990s and several governing documents are also published on its website. Form 990, Part XI, Line 9 Other changes in net assets or fund balances CHANGE IN VALUE OF SPLIT INTEREST TRUSTS - 331888; CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE - 5198; WSUF Emergence Center No 1 LLC (formerly Fairborn Office Property LLC) 3070 PRESIDENTIAL DRIVE FAIRBORN OH 453246293 HOLDS TITLE TO PROPERTY OCCUPIED BY WSU FOUNDATION, INC. OH 76878 1927707 Wright State University Foundation Inc RAIDER FOOD PANTY 3640 Colonel Glenn Highway DAYTON OH 454350001 FOOD PANTRY OH 0 0 WRIGHT STATE UNIVERSITY FOUNDATION WRIGHT STATE UNIVERSITY 3640 COLONEL GLENN HIGHWAY DAYTON OH 454350001 310732831 EDUCATION OH 501(c)(1) NA false CHARITABLE REMAINDER TRUSTS (3) INVESTMENTS OH NA Trust true false true false false false false false false false false false true true true true true false false false