2024-04-12T14:34:07-05:00 2023-06-30 410746749 CLIFTONLARSONALLEN LLP 8390 EAST CRESCENT PARKWAY SUITE 300 GREENWOOD VILLAGE CO 80111 990 2022-07-01 816001649 MONTANA STATE UNIVERSITY FOUNDATION INC MONT 4069942053 1501 SOUTH 11TH AVE PO BOX 172750 BOZEMAN MT 597172750 FRAN ALBRECHT CEO/PRESIDENT 4069942053 2024-01-31 1 FRAN ALBRECHT 0 SARAH HINTZ P00492291 3037795710 2024-03-29 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z MSU ALUMNI FOUNDATION FRAN ALBRECHT 1501 SOUTH 11TH AVE PO BOX 172750 BOZEMAN MT 597172750 84234678 0 X WWW.MSUAF.ORG X 1946 MT CULTIVATE LIFELONG RELATIONSHIPS AND SECURE PRIVATE SUPPORT TO ADVANCE MONTANA STATE UNIVERSITY. 21 21 80 161 400687 275129 53402688 47608471 3465810 3516549 11383577 9527963 559817 571557 68811892 61224540 37583886 18088640 0 0 6056951 7612086 290060 241613 4214872 2948233 3417986 46879130 29360325 21932762 31864215 330292309 379099449 20382827 20938414 309909482 358161035 WE CULTIVATE LIFELONG RELATIONSHIPS AND SECURE PRIVATE SUPPORT TO ADVANCE MONTANA STATE UNIVERSITY. 0 0 9838590 9838590 1876295 MSUAF PROVIDED MONTANA STATE UNIVERSITY WITH PRIVATE DOLLARS TO ADVANCE ITS LAND-GRANT MISSION TO INTEGRATE EDUCATION, CREATE KNOWLEDGE AND ART, AND SERVICE COMMUNITIES. MSUAF PROVIDED $7.4 MILLION TO ENRICH INSTRUCTION, RESEARCH, AND PUBLIC SERVICE OF MONTANA STATE UNIVERSITY'S 16,688 STUDENTS AS WELL AS $2.4 MILLION TO CONSTRUCT AND EQUIP FACILITIES THAT ENHANCE THEIR RESEARCH AND LEARNING ENVIRONMENTS. 8250050 8250050 1492522 MSUAF PROVIDED 2,790 STUDENTS WITH SCHOLARSHIPS TO ATTEND MONTANA STATE UNIVERSITY. SCHOLARSHIPS ALLOWED THESE STUDENTS TO PURSUE ADVANCED EDUCATION, LESSENING THE BURDEN OF TUITION, HOUSING, AND FEES. 1089187 0 147732 ALUMNI ENGAGEMENT CONNECTS OVER 240,000 CONTACTABLE ALUMNI AND FRIENDS OF MONTANA STATE UNIVERSITY THROUGH INCLUSIVE COMMUNICATIONS, EVENTS, AND AFFILIATE NETWORKS. ALUMNI (WHICH INCLUDED GRADUATES AND NONDEGREED ATTENDEES) AND FRIENDS (AFFILIATES, STAFF, FACULTY, DONORS, PARENTS OF CURRENT STUDENTS) RECEIVE REGULAR MSU NEWS, EVENTS, AND INVITATIONS TO CONNECT WITH MONTANA STATE AND ONE ANOTHER, LOCALLY, IN POPULUS TARGET REGIONS, AND IN CHAPTER AREAS AND ACROSS THE COUNTRY. OVER 270 EVENTS INCLUDING IN-PERSON AND HYBRID, BROUGHT PROGRAMS, MEANINGFUL EXPERIENCES AND UNIQUE OPPORTUNITIES TO ENGAGE WITH MSU, TO OVER 15,000 TRACKED ALUMNI,FRIENDS, SUPPORTERS AND FANS. 19177827 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 0 0 1 0 0 1 0 0 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 41 0 1 80 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 21 21 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 0 0 AK CA CO KY ME MD MA MI MN NJ NV NH NY OH OR SC UT WA X X MELISSA KINNEAR 4069942053 1501 SOUTH 11TH AVE PO BOX 172750 BOZEMAN MT 597172750 GREG COLLINS CHAIR 3.98 X X 0 0 0 MARY ANN PEARCE VICE CHAIR 2.65 X X 0 0 0 BILL SANDERSON SECRETARY/TREASURER 3.58 X X 0 0 0 STEVE ROVIG PAST CHAIR 0.77 X X 0 0 0 RON AASHEIM GOVERNOR 0.77 X 0 0 0 BEHROOZ ABDI GOVERNOR 0.77 X 0 0 0 NORMAN ASBJORNSON GOVERNOR 0.77 X 0 0 0 MARK BACIGALUPO GOVERNOR 0.77 X 0 0 0 FRANK BENEVENTO GOVERNOR 0.77 X 0 0 0 DON CAPE JR GOVERNOR 0.77 X 0 0 0 INGRID DEGREEF GOVERNOR 0.77 X 0 0 0 DON GIMBEL GOVERNOR 0.77 X 0 0 0 DENISE JUNEAU GOVERNOR 0.77 X 0 0 0 WES KREMER GOVERNOR 0.77 X 0 0 0 RON LEWIS GOVERNOR 0.77 X 0 0 0 CHRIS LOFGREN GOVERNOR 0.77 X 0 0 0 HEIDI MCLOUGHLIN GOVERNOR 0.77 X 0 0 0 RISA SCOTT GOVERNOR 0.77 X 0 0 0 NANCY SELESKI GOVERNOR 0.77 X 0 0 0 WALTER SMITH GOVERNOR 0.77 0.20 X 0 0 0 GINNY SULLIVAN GOVERNOR 0.77 X 0 0 0 ANDREW WILCOX GOVERNOR 0.77 X 0 0 0 CHRISTOPHER MURRAY PRESIDENT & CEO THRU 2/23 50.00 X 317272 0 48948 MELISSA KINNEAR VP FINANCE & ACCTG 50.00 X 153449 0 24969 MARY JANE MCGARITY VP DEV. / INTERIM CEO AS OF 2/23 40.00 X 132204 0 20269 KATHLEEN SAYLOR VP OPERATIONS 40.00 X 142417 0 20431 JACKIE SATHER SR DEV DIRECTOR 40.00 X 123610 0 25463 SHANNON SCHUMACHER ASSOC. VP DEVELOPMENT 40.00 X 118715 0 22538 NEAL ZANDONELLA VP INFORMATION TECH 40.00 X 120964 0 31765 KEVIN BROWN ASSOC. VP PLANNED GIVING 40.00 X 118304 0 31025 1226935 0 225408 13 0 1 0 MARTEL CONSTRUCTION INC 1203 S CHURCH AVE BOZEMAN MT 59715 BUILDING CONSTRUCTION 363413 WILSHIRE ADVISORS LLC 1299 OCEAN AVE SUITE 600 SANTA MONICA CA 90401 INVESTMENT CONSULTANT 220000 BLACKBAUD INC PO BOX 930256 ATLANTA GA 31193 TECHNOLOGY SERVICES 217147 RUFFALO NOEL LEVITZ 1025 KIRKWOOD PARKWAY SW CEDAR RAPIDS IA 52404 FUNDRAISING SERVICES 209327 PUBLICATIONS PRINTERS CORP 2001 S PLATTE RIVER DR DENVER CO 80225 PRINTING SERVICES 171428 6 47608471 14076112 47608471 CONTRACT FOR SERVICES 561499 1876295 1876295 SCHOLARSHIP INCOME 611710 1492522 1492522 ALUMNI RELATIONS PROGR 611710 147732 147732 3516549 5649167 400687 5248480 181 181 19200 0 19200 19200 19200 26835622 22956826 3878796 3878796 3878796 67565 53312 14253 14253 ADMINISTRATIVE FEES 523000 234595 234595 INVEST INCOME - ATI 523000 198372 198372 MISCELLANEOUS REVENUE 900099 104956 104956 537923 61224540 3516549 400687 9698833 18088640 18088640 691417 563187 128230 5230976 430092 2502837 2298047 372158 28463 178600 165095 855163 73385 439886 341892 462372 35153 231458 195761 15523 8879 6644 68987 68987 241613 241613 5491 5491 286975 7203 177387 102385 379551 243156 26239 110156 953253 12002 906883 34368 520698 6204 339178 175316 181382 177869 3513 261906 51794 11088 199024 482154 201735 67591 212828 20049 20049 200836 200836 41181 41181 29360325 19177827 5967626 4214872 29945 35427 22984435 31437666 16125815 18792337 78696 7667 5220440 5615245 683960 757614 9089775 1919800 2185217 7169975 158804383 177575204 124551070 137894468 -660800 -462427 289148 276273 330292309 379099449 1302561 1445156 617199 529692 2056780 2193990 16406287 16769576 20382827 20938414 X 13107775 14389418 296801707 343771617 309909482 358161035 330292309 379099449 X 31864215 15657186 730152 X X 0 1 X 1 0 X 34881656 25949603 21196615 53402688 47608471 183039033 34881656 25949603 21196615 53402688 47608471 183039033 41381652 141657381 1768405 2480418 526515 2237275 5267861 12280474 265045 86777 399169 289382 1040373 454005 526161 532272 501442 537923 2551803 198911683 14581342 0.71220 0.79110 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 231524220 21879112 21169234 6607869 3870436 264094261 218707875 31934845 -8639743 6609357 3869400 231524220 171183813 6266668 50486281 5774516 3454371 218707875 176623189 7459527 -4035883 5773603 3089417 171183813 149395498 33157018 4907588 7628657 3208258 176623189 0.00250 0.99690 0.00060 0 0 686050 1580301 2266351 5713742 1154665 4559077 1109182 765135 344047 500 500 7169975 200200 F OTHER SECURITIES 117904922 F SPLIT INTEREST AGREEMENTS 12905605 F BENEFICIAL INTEREST IN TRUSTS 6883741 F 137894468 DEFERRED GIFT OBLIGATIONS 5290879 FUNDS HELD ON BEHALF OF OTHERS 11419139 LEASE LIABILITY 59558 16769576 78716181 15657186 338750 1442393 17438329 61277852 -53312 -53312 61224540 31405866 1538729 453500 1992229 29413637 -53312 -53312 29360325 PART V, LINE 4: TO PROVIDE INCOME FOR THE MAINTENANCE OF THE ORGANIZATION AND ITS CHARITABLE PURPOSES. PART XI, LINE 2D - OTHER ADJUSTMENTS: SUBSIDIARY OPERATIONS 712,241. CHANGE IN SPLIT INTEREST AGREEMENT 730,152. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES -53,312. PART XII, LINE 2D - OTHER ADJUSTMENTS: SUBSIDIARY OPERATIONS 453,500. PART XII, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES -53,312. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS N/A 72756000 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS N/A 11170000 EAST ASIA AND THE PACIFIC 0 0 INVESTMENTS N/A 4286000 NORTH AMERICA 0 0 INVESTMENTS N/A 313000 0 0 0 0 0 0 88525000 0 88525000 1 0 0 0 1 0 PART III ACCOUNTING METHOD: PART I, LINE 3, COLUMN (F): THE ACCOUNTING METHOD USED IS ACCRUAL. X X X X X 1 RUFFALO NOEL LEVITZ 1025 KIRKWOOD PARKWAY SW CEDAR RAPIDS IA 52404 PHONATHON SERVICES 0 178402 241613 0 178402 241613 AK CA CO CT FL GA HI IL KS MD MA MI MO MS NH NC ND OH OK OR SC TN UT VA WA WV DC MN QUARTERBACK CLUB BANQUET 32750 32750 6000 24328 WOMEN'S CIRCLE OF EXCELLENCE 19905 19905 3349 2878 4437 1 14910 14910 12320 67565 67565 6000 12320 27677 2878 4437 53312 14253 1 MONTANA STATE UNIVERSITY PO BOX 172720 BOZEMAN MT 59717 363412482 STATE OF MONTANA 18031089 57551 FAIR VALUE DONATED ASSETS SCHOLARSHIPS TO MONTANA STATE UNIVERSITY STUDENTS AND PROGRAM SUPPORT 1 0 PART I, LINE 2: MONTANA STATE UNIVERSITY FOUNDATION (MSUF) MANAGES DISBURSEMENT OF DONOR GIFTS ACCORDING TO PURPOSES SET FORTH BY DONORS. TO REQUEST FUNDS FROM MSUF, MONTANA STATE UNIVERSITY (MSU) PREPARES A VOUCHER COMPLETE WITH DOCUMENTATION AND MSU APPROVAL. MSUF VERIFIES THAT THE EXPENDITURE FALLS WITHIN THE DONOR CRITERIA, MSUF'S DISBURSEMENT POLICY, AND THAT THE REQUEST IS FROM AN AUTHORIZED MSU REPRESENTATIVE. ALL REQUESTS ARE APPROVED BY MSUF BEFORE DISBURSEMENT TO MSU. X 1 1 X X X 0 0 0 0 0 0 0 0 0 CHRISTOPHER MURRAY PRESIDENT & CEO THRU 2/23 274556 0 35000 0 7716 0 22203 0 26745 0 366220 0 0 0 MELISSA KINNEAR VP FINANCE & ACCTG 146549 0 6000 0 900 0 10678 0 14291 0 178418 0 0 0 KATHLEEN SAYLOR VP OPERATIONS 137517 0 4000 0 900 0 9906 0 10525 0 162848 0 0 0 NEAL ZANDONELLA VP INFORMATION TECH 115064 0 5000 0 900 0 8708 0 23057 0 152729 0 0 0 MARY JANE MCGARITY VP DEV. / INTERIM CEO AS OF 2/23 125304 0 6000 0 900 0 9191 0 11078 0 152473 0 0 0 PART I, LINE 1B SOCIAL CLUB DUES ARE PAID FOR INDIVIDUALS WHO NEED TO ENTERTAIN FOR FUNDRAISING PURPOSES. CHRISTOPHER MURRAY RECEIVED $6,816 OF SOCIAL CLUB DUES THAT WERE INCLUDED IN TAXABLE COMPENSATION. X 52 13462777 FMV AT DATE OF GIFT X 17 30584 FMV AT DATE OF GIFT X 1 525000 FMV AT DATE OF GIFT X 32 53071 FMV AT DATE OF GIFT X SUPPLIES 4 4680 FMV AT DATE OF GIFT 0 0 1 0 PART I, COLUMN (B): COLUMN (B) REPORTS THE NUMBER OF CONTRIBUTIONS. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE IS COMPOSED OF THE CHAIR, VICE CHAIR, PAST CHAIR, SECRETARY/TREASURER, THE CHAIRS OF THE BUDGET, INVESTMENT, GOVERNANCE AND AUDIT, AND NOMINATING COMMITTEES. THE COMMITTEE SHALL BE RESPONSIBLE FOR THE OVERSIGHT OF ALL ACTIVITIES, OPERATIONS, MONIES AND ASSETS OF THE CORPORATION, SUBJECT TO REVIEW BY THE BOARD. BETWEEN MEETINGS OF THE BOARD, THE COMMITTEE SHALL HAVE GENERAL POWERS TO DECIDE ALL MATTERS RELATING TO THE POLICY, PROPERTY, AND FUNCTIONS OF THE CORPORATION, SUBJECT TO THE APPROVAL OF THE BOARD, BUT SHALL NOT REVERSE THE ACTION OF THE BOARD UPON ANY MATTER WHICH HAS BEEN PRESENTED AND ACTED ON BY THE BOARD. POWERS SHALL INCLUDE, BUT ARE NOT LIMITED TO, THE AUTHORITY TO ACCEPT GIFTS, TO ACQUIRE AND DISPOSE OF PROPERTY, TO BORROW MONEY, AND TO PLEDGE ASSETS OF THE CORPORATION AS SECURITY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS PREPARED BY AN INDEPENDENT ACCOUNTANT AND REVIEWED BY MANAGEMENT. THE FORM 990 WAS PROVIDED TO THE GOVERNANCE AND AUDIT COMMITTEE AND BOARD OF GOVERNORS FOR REVIEW. THE COMMITTEE AND BOARD THEN DISCUSSED THE FORM WITH MANAGEMENT AND APPROVED IT PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, ALL OFFICERS AND GOVERNORS MUST SIGN THE ACKNOWLEDGEMENT THAT THEY HAVE READ AND COMPLIED WITH THE CONFLICT OF INTEREST POLICY. ANY CONFLICTS DURING THE PERIOD ARE REPORTED AT THIS TIME AND DOCUMENTED. TRANSACTIONS WITH PARTIES WITH WHOM A CONFLICTING INTEREST EXISTS MAY BE UNDERTAKEN ONLY IF ALL SIX (6) THE FOLLOWING ARE OBSERVED: 1. THE CONFLICTING INTEREST IS FULLY DISCLOSED; AND 2. THE PERSON WHO HAS OR APPEARS TO HAVE A CONFLICT OF INTEREST: A. SHALL BE EXCLUDED FROM THE DISCUSSION OF THE TRANSACTION; OR B. IF DEEMED TO BE IN THE BEST INTEREST OF THE MSU ALUMNI FOUNDATION, MAY PROVIDE INFORMATION FOR AND ANSWER QUESTIONS RELATING TO THE TRANSACTION AS PERMITTED BY AND LIMITED BY THE INDIVIDUAL PRESIDING OVER THE DISCUSSION OF THE TRANSACTION. BY PARTICIPATING, THE PERSON SHALL NOT INTENTIONALLY INFLUENCE A DECISION ON THE MATTER; AND 3. THE PERSON WHO HAS OR APPEARS TO HAVE A CONFLICT OF INTEREST SHALL BE EXCLUDED FROM VOTING ON THE TRANSACTION; AND 4. A COMPETITIVE BID OR COMPARABLE VALUATION EXISTS IF APPROPRIATE; AND 5. THE TRANSACTION HAS BEEN APPROVED AS BEING IN THE BEST INTEREST OF THE MSU ALUMNI FOUNDATION; AND 6. ALL DECISIONS AND ACTIONS PURSUANT TO THIS PROVISION ARE CLEARLY DOCUMENTED IN THE MINUTES OF THE PROCEEDING. FORM 990, PART VI, SECTION B, LINE 15A THE CEO IS EVALUATED ANNUALLY BY THE EXECUTIVE COMMITTEE OF THE BOARD OF GOVERNORS. THIS COMMITTEE MEETS IN A CLOSED SESSION AND DISCUSSES THE CEO'S PERFORMANCE DURING THE YEAR AND COMPARABLE PAY FOR THE POSITION AND REGION. THE CEO'S COMPENSATION IS APPROVED BY A MAJORITY VOTE OF THE BOARD OF GOVERNORS, WHICH INCLUDES ALL INDEPENDENT GOVERNORS. THIS PROCESS WAS LAST COMPLETED IN 2023. THE PRESIDENT AND CEO REVIEWS THE PERFORMANCE OF EACH KEY EMPLOYEE OF THE ORGANIZATION. THE PRESIDENT AND CEO REVIEWS THE COMPENSATION OF EACH KEY EMPLOYEE WITH INPUT FROM THE DIRECTOR OF HR, BASED ON PERFORMANCE AND COMPARABLE PAY AS DETERMINED FROM REGIONAL BENCHMARKING SURVEYS COMPLETED THROUGHOUT THE YEAR. THE KEY EMPLOYEES OF THE ORGANIZATION ARE EVALUATED ANNUALLY BY THE PRESIDENT AND CEO AND GIVEN NOTICE OF THEIR COMPENSATION DURING THE PERFORMANCE REVIEW MEETING. THIS PROCESS WAS LAST COMPLETED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICIES ARE AVAILABLE UPON REQUEST. THE FINANCIAL STATEMENTS ARE AVAILABLE ON THE FOUNDATION'S WEBSITE. FORM 990, PART XI, LINE 9: CHANGE IN SPLIT INTEREST AGREEMENT 730,152. FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSIGHT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. MSU INNOVATION CAMPUS PO BOX 172755 BOZEMAN MT 59717 445507328 REAL ESTATE MT 501(C)(3) LINE 12A, I MSU FOUNDATION 1 ADVANCED TECHNOLOGY INC PO BOX 172755 BOZEMAN MT 59717 810448958 REAL ESTATE MT MSU FOUNDATION C 336356 1750891 1.00000 1 0 0 0 1 0 0 0 0 0 0 0 1 0 1 1 0 1 0 0 MSU INNOVATION CAMPUS D 328711 BALANCE AT YEAR END