2023-05-15T16:33:54-05:00 2022-06-30 410746749 CLIFTONLARSONALLEN LLP 8390 EAST CRESCENT PARKWAY SUITE 300 GREENWOOD VILLAGE CO 80111 990 2021-07-01 816001649 MONTANA STATE UNIVERSITY FOUNDATION INC MONT 4069942053 1501 SOUTH 11TH AVE PO BOX 172750 BOZEMAN MT 597172750 MARY JANE MCGARITY INTERIM CEO/PRESIDENT 4069942053 2023-04-12 1 MARY JANE MCGARITY 816001649 SARAH HINTZ P00492291 3037795710 2023-04-28 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z MSU ALUMNI FOUNDATION CHRIS MURRAY 1501 SOUTH 11TH AVE PO BOX 172750 BOZEMAN MT 597172750 105501548 0 X WWW.MSUAF.ORG X 1946 MT CULTIVATE LIFELONG RELATIONSHIPS AND SECURE PRIVATE SUPPORT TO ADVANCE MONTANA STATE UNIVERSITY. 22 22 76 125 350189 61122 21196615 53402688 1910288 3465810 12845234 11383577 531683 559817 36483820 68811892 19162493 37583886 0 0 4936823 6056951 271923 290060 3711709 1685973 2948233 26057212 46879130 10426608 21932762 333574086 330292309 22644022 20382827 310930064 309909482 WE CULTIVATE LIFELONG RELATIONSHIPS AND SECURE PRIVATE SUPPORT TO ADVANCE MONTANA STATE UNIVERSITY. 0 0 29542679 29542679 1754653 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 $5.9 MILLION TO ENRICH INSTRUCTION, RESEARCH, AND PUBLIC SERVICE OF MONTANA STATE UNIVERSITY'S 16,841 STUDENTS AS WELL AS $23.6 MILLION TO CONSTRUCT AND EQUIP FACILITIES THAT ENHANCE THEIR RESEARCH AND LEARNING ENVIRONMENTS. 8041207 8041207 1456426 MSUAF PROVIDED 2,840 STUDENTS WITH SCHOLARSHIPS TO ATTEND MONTANA STATE UNIVERSITY. SCHOLARSHIPS ALLOWED THESE STUDENTS TO PURSUE ADVANCED EDUCATION, LESSENING THE BURDEN OF TUITION, HOUSING, AND FEES. 1167856 0 254731 ALUMNI ENGAGEMENT CONNECTS OVER 220,000 CONTACTABLE ALUMNI AND FRIENDS OF MONTANA STATE UNIVERSITY THROUGH INCLUSIVE COMMUNICATIONS, EVENTS, AND AFFILIATE NETWORKS. ALUMNI (WHICH INCLUDED GRADUATES AND NON-DEGREED ATTENDEES) AND FRIENDS (AFFILIATES, STAFF, FACULTY, DONORS, PARENTS OF CURRENT STUDENTS) RECEIVE REGULAR MSU NEWS, EVENTS, AND INVITATIONS TO CONNECT WITH THE UNIVERSITY AND WITH ONE ANOTHER, LOCALLY, IN CHAPTER AREAS AND ACROSS THE COUNTRY. OVER 270 EVENTS INCLUDING IN-PERSON AND VIRTUAL, BROUGHT PROGRAMS, MEANINGFUL EXPERIENCES AND UNIQUE OPPORTUNITIES TO OVER 17,000 ALUMNI, FRIENDS, SUPPORTERS AND FANS. 38751742 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 25 0 1 76 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 22 22 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 STEVE ROVIG CHAIR 3.98 0.00 X X 0 0 0 GREG COLLINS VICE CHAIR 2.65 0.00 X X 0 0 0 BILL SANDERSON SECRETARY/TREASURER 3.58 0.00 X X 0 0 0 JEAN B SWEENEY PAST CHAIR 0.77 0.00 X X 0 0 0 RON AASHEIM GOVERNOR 0.77 0.00 X 0 0 0 BEHROOZ ABDI GOVERNOR 0.77 0.00 X 0 0 0 NORMAN ASBJORNSON GOVERNOR 0.77 0.00 X 0 0 0 MARK BACIGALUPO GOVERNOR 1.01 0.00 X 0 0 0 FRANK BENEVENTO GOVERNOR 0.77 0.00 X 0 0 0 DON CAPE JR GOVERNOR 0.58 0.00 X 0 0 0 DAVID CAMERON GOVERNOR (THROUGH 10/2021) 0.10 0.00 X 0 0 0 JILL CUNIFF GOVERNOR (THROUGH 10/2021) 0.10 0.00 X 0 0 0 INGRID DEGREEF GOVERNOR 0.77 0.00 X 0 0 0 DON GIMBEL GOVERNOR 0.77 0.00 X 0 0 0 JILL JARRETT GOVERNOR 0.77 0.00 X 0 0 0 WES KREMER GOVERNOR 0.77 0.00 X 0 0 0 CHRIS LOFGREN GOVERNOR 0.77 0.00 X 0 0 0 HEIDI MCLOUGHLIN GOVERNOR 0.77 0.00 X 0 0 0 MARY ANN PEARCE GOVERNOR (THROUGH 10/2021) 0.10 0.00 X 0 0 0 RISA SCOTT GOVERNOR 0.77 0.00 X 0 0 0 NANCY SELESKI GOVERNOR 0.77 0.00 X 0 0 0 WALTER SMITH GOVERNOR 0.77 0.00 X 0 0 0 RUSSELL STANDS OVER BULL GOVERNOR 0.77 0.00 X 0 0 0 GINNY SULLIVAN GOVERNOR 1.12 0.00 X 0 0 0 ANDREW WILCOX GOVERNOR 0.77 0.00 X 0 0 0 CHRISTOPHER MURRAY PRESIDENT & CEO 50.00 0.00 X 295331 0 41514 MELISSA KINNEAR VP FINANCE & ACCTG 50.00 0.00 X 117047 0 21627 MARY JANE MCGARITY VP DEVELOPMENT 40.00 0.00 X 137771 0 22550 KATHLEEN SAYLOR VP OPERATIONS 40.00 0.00 X 134070 0 21970 JACKIE SATHER SR DEVELOPMENT DIRECTOR 40.00 0.00 X 109732 0 23290 NICHOLAS LONARDO DIRECTOR OF THE ANNUAL FUND 40.00 0.00 X 100506 0 23851 KERRY HANSON VICE PRESIDENT OF ALUMNI RELATIONS 40.00 0.00 X 103672 0 21185 998129 0 175987 7 0 1 0 MARTEL CONSTRUCTION INC 1203 S CHURCH AVE BOZEMAN MT 59715 BUILDING CONSTRUCTION 10635226 RUFFALO NOEL LEVITZ 1025 KIRKWOOD PARKWAY SW CEDAR RAPIDS IA 52404 FUNDRAISING SERVICES 290190 A & E ARCHITECTS PC 124 N 29TH STE 100 BILLINGS MT 59101 CONSTRUCTION ADMIN SERVICES 185581 CLIFTONLARSONALLEN LLP 8390 EAST CRESCENT PARKWAY SUITE 3 GREENWOOD VILLAGE CO 80111 ACCOUNTING SERVICES 105009 4 53402688 15885292 53402688 CONTRACT FOR SERVICES 561499 1754653 1754653 SCHOLARSHIP INCOME 611710 1456426 1456426 ALUMNI RELATIONS PROGR 611710 254731 254731 3465810 2583694 350189 2233505 3770 3770 45450227 36650344 8799883 8799883 8799883 93917 39312 54605 54605 ADMINISTRATIVE FEES 523930 241773 241773 INVESTMENT INCOME- ATI 523000 187950 187950 MISCELLANEOUS INCOME 900099 71719 71719 501442 68811892 3465810 350189 11593205 37583886 37583886 475068 168197 306871 68175 68175 4071652 199607 1788520 2083525 313509 24474 143912 145123 774418 68991 401234 304193 354129 28971 163041 162117 153544 14899 123922 14723 30454 11980 18474 54503 54503 290060 290060 8546 8546 36898 12382 1207 23309 971132 230483 539549 201100 577000 6204 371769 199027 128314 125727 2587 221787 48630 9762 163395 520372 364452 59129 96791 20079 20079 189048 189048 18511 22541 -4030 MISCELLANEOUS 18045 566 6164 11315 46879130 38751742 4415679 3711709 4108814 29945 11437372 22984435 8984562 16125815 2300 78696 4968001 5220440 313483 683960 3804405 1619188 15313047 2185217 45541233 158804383 243481626 124551070 -1076845 -660800 500493 289148 333574086 330292309 2112281 1302561 1261007 617199 508926 2056780 18761808 16406287 22644022 20382827 X 15707953 13107775 295222111 296801707 310930064 309909482 333574086 330292309 X 21932762 -21173616 -1779728 X X 0 1 X 1 0 X 19971798 34881656 25949603 21196615 53402688 155402360 19971798 34881656 25949603 21196615 53402688 155402360 22279074 133123286 884857 1768405 2480418 526515 2237275 7897470 440725 265045 0 86777 399169 1191716 1776879 454005 526161 532272 501442 3790759 168282305 14085360 0.79110 0.42350 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 218707875 31934845 -8639743 6609357 3869400 231524220 171183813 6266668 50486281 5774516 3454371 218707875 176623189 7459527 -4035883 5773603 3089417 171183813 149395498 33157018 4907588 7628657 3208258 176623189 138039542 8402190 10738575 4382892 651107 2750810 149395498 0.00222 0.99712 0.00066 0 0 191050 451750 642800 2087107 976641 1110466 1073998 642547 431451 500 500 2185217 298425 F OTHER SECURITIES 104516033 F SPLIT INTEREST AGREEMENTS 12848863 F BENEFICIAL INTEREST IN TRUSTS 6887749 F 124551070 DEFERRED GIFT OBLIGATIONS 5504741 FUNDS HELD ON BEHALF OF OTHERS 10901546 16406287 46521903 -21173616 -1155685 -22329301 68851204 -39312 -39312 68811892 47412884 494442 494442 46918442 -39312 -39312 46879130 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 624,043. CHANGE IN SPLIT INTEREST AGREEMENT -1,779,728. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES -39,312. PART XII, LINE 2D - OTHER ADJUSTMENTS: SUBSIDIARY OPERATIONS 494,442. PART XII, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES -39,312. CENTRAL AMERICA AND CARIBBEAN 0 0 INVESTMENTS N/A 66773000 EUROPE 0 0 INVESTMENTS N/A 8592000 EAST ASIA AND PACIFIC 0 0 INVESTMENTS N/A 3544000 0 0 0 0 0 0 78909000 0 78909000 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 165370 290060 0 165370 290060 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 59300 59300 6615 22612 WOMEN'S CIRCLE OF EXCELLENCE 17432 17432 159 750 189 2 17185 17185 8987 93917 93917 6615 31758 750 189 39312 54605 1 ENGINEERS WITHOUT BORDERS-USA 1031 33RD ST SUITE 210 DENVER CO 80205 841589324 501C3 7094 0 N/A N/A GIVING DAY FUNDRAISER PASS THRU GRANT MONTANA STATE UNIVERSITY PO BOX 172720 BOZEMAN MT 59717 363412482 STATE OF MONTANA 0 17408556 BOOK VALUE BAC BUILDING PROGRAM SUPPORT MONTANA STATE UNIVERSITY PO BOX 172720 BOZEMAN MT 59717 363412482 STATE OF MONTANA 20107384 40681 FAIR VALUE DONATED ASSETS SCHOLARSHIPS TO MONTANA STATE UNIVERSITY STUDENTS AND PROGRAM SUPPORT . STUDENTS AGAINST SEXUAL ASSUALT VOICE CENTER STRAND UNION BLDG 370 BOZEMAN MT 59717 454230248 501C3 13847 0 N/A N/A GIVING DAY FUNDRAISER PASS THRU GRANT WOMENS CLUB VOLLEYBALL AT MSU PO BOX 174200 BOZEMAN MT 59717 871259930 6324 0 N/A N/A GIVING DAY FUNDRAISER PASS THRU GRANT 3 1 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 262035 0 26000 0 7296 0 21153 0 20361 0 336845 0 0 0 MARY JANE MCGARITY VP DEVELOPMENT 132871 0 4000 0 900 0 9602 0 12948 0 160321 0 0 0 KATHLEEN SAYLOR VP OPERATIONS 129170 0 4000 0 900 0 9322 0 12648 0 156040 0 0 0 PART I, LINE 1B SOCIAL CLUB DUES ARE PAID FOR INDIVIDUALS WHO NEED TO ENTERTAIN FOR FUNDRAISING PURPOSES. CHRISTOPHER MURRAY RECEIVED $6,396 OF SOCIAL CLUB DUES. X 98 15794338 FMV AT DATE OF GIFT X 9 50773 FMV AT DATE OF GIFT X 28 28151 FMV AT DATE OF GIFT X SUPPLIES 7 12030 FMV AT DATE OF GIFT 1 0 1 0 PART I, COLUMN (B): THE FOUNDATION DISCLOSES THE NUMBER OF CONTRIBUTIONS IN COLUMN B, EXCEPT FOR SECURITIES WHICH IS NUMBER OF CONTRIBUTORS. 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 2022. 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 2022. 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 -1,779,728. 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 369699 1557511 1.00000 1 0 0 0 1 0 0 0 0 0 0 0 1 0 1 1 0 1 1 0 MSU INNOVATION CAMPUS D 242066 AMOUNT PAID ADVANCED TECHNOLOGY INC R 228095 AMOUNT PAID