2022-03-03T17:51:01-07:00 2021-06-30 135565207 KPMG LLP 1918 Eighth Ave Suite 2900 Seattle WA 98101 990 2020-07-01 911075542 WASHINGTON STATE UNIVERSITY FOUNDATION WASH 5093351686 PO Box 641927 Pullman WA 991641927 Michael C Connell CEO 5093356686 2022-03-04 1 Sue Robison P00560062 4259226071 2022-03-03 1 11 1 AAL2 X 2020 2022-09-23 18:48:47Z Michael C Connell PO Box 641927 Pullman WA 991641927 251833414 0 X http://foundation.wsu.edu X 1979 WA The mission of the Foundation is to promote, accept, and maximize private support for programs, initiatives, and properties of Washington State University and its regional campuses. The Foundation also prudently manages, invests, and stewards assets entrusted to it. 21 20 116 230 -74377 0 69793999 80100918 7565983 7907345 10974844 17362726 0 0 88334826 105370989 58606172 60684217 0 0 8895717 9413725 432764 519517 7547075 13066566 13526658 81001219 84144117 7333607 21226872 556928680 715596678 15522409 16388468 541406271 699208210 X The mission of the Foundation is to promote, accept, and maximize private support for programs, initiatives, and properties of Washington State University and its regional campuses. The Foundation also prudently manages, invests, and stewards assets entrusted to it. 0 0 28163639 27492246 3582326 General Program Support: The Foundation does not directly provide the program service. However, contributions received for this purpose were distributed to the University for use in accordance with donor agreements. These contributions earmarked funds for general and administrative expenses, entrepreneurial activities, and other departmental and university wide programs. 19249525 18790637 2448479 Scholarships & Fellowships: The Foundation does not directly award scholarships and fellowships. However, contributions for these purposes were distributed to the University for use in accordance with donor agreements. Student financial aid was received for loans, graduate fellowships, general scholarships and scholarships with specific criteria, such as merit, need, and multiculturalism. 5904466 5763710 751030 Professorships, Chairs and Instructions: The Foundation does not directly provide this program service. However, contributions received for this purpose were distributed to the University for disbursement in accordance with donor agreements. Contributions were largely used for faculty research projects, salary support and instructions outside the normal classroom. 5597896 5464448 712035 Facilities Operation and Maintenance: The Foundation does not directly provide facility and maintenance program services. However, contributions received for this purpose are distributed to the University for use in accordance with the donor agreements. Contributions were received for the purchase and maintenance of buildings and equipment. 3250669 3173176 413475 Research: The Foundation does not directly provide this program service. However, contributions received for this purpose were distributed to the University for disbursement in accordance with donor agreements. Contributions were received to further University wide research projects. 8848565 8637624 1125510 62166195 1 1 0 1 0 0 0 0 1 1 1 0 0 1 1 1 1 0 0 0 1 1 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 0 0 0 1 X 2 0 1 116 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 X 21 20 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 WA X X Jon Derek Croteau 5093351686 PO Box 641927 Pullman WA 991641927 Lisa D Calvert Vice President, Chief Executive Officer 40 0 X 375652 0 39990 JoAnn Grainger Senior Associate Vice President 40 0 X 303869 0 39990 George Keegan Senior Associate Vice President 40 0 X 299169 0 32865 Jon Thorsen Senior Associate Vice President 40 0 X 284025 0 38713 Michael Connell Senior Associate Vice President 40 0 X 239814 0 42529 Harold Don Shearer Senior Associate Vice President 40 0 X 163251 0 27242 Karen Rasch Director 40 0 X 155487 0 27256 Juan Zavala Associate Vice President 40 0 X 155614 0 23045 Theresa James Chief Financial Officer 40 0 X 143420 0 25957 Trevor Durham Associate Vice President 40 0 X 144490 0 22491 Victoria Miles Director 40 0 X 141770 0 22347 Amanto Marcotulli Director 40 0 X 137828 0 25459 Theresa Boyer Director 40 0 X 124723 0 21644 Dana Ulrich Director 40 0 X 117830 0 20415 Jason Roesler Director 40 0 X 110401 0 26509 Jon Derek Croteau Senior Associate Vice President 40 0 X 112045 0 6043 Bruce Amundson Board of Directors, Member 0.32 0 X 0 0 0 K Duane Brelsford Board of Directors, Member 0.32 0 X 0 0 0 Scott Carson Board of Directors, Member 0.32 0 X 0 0 0 Jim Coughlin Board of Directors, Member 0.32 0 X 0 0 0 Elizabeth A Cowles Board of Directors, Member 0.32 0 X 0 0 0 Bob Crist Board of Directors, Member 0.32 0 X 0 0 0 Shari L Freidenrich Board of Directors, Member 0.32 0 X 0 0 0 Vicki Gordon Board of Directors, Member 0.32 0 X 0 0 0 Michael Hambelton Board of Directors, Member 0.32 0 X 0 0 0 Lisa King Board of Directors, President 0.32 0 X 0 0 0 Lewis C Lee Board of Directors, Member 0.32 0 X 0 0 0 David McGoldrick Board of Directors, Member 0.32 0 X 0 0 0 John C Minge Board of Directors, Member 0.32 0 X 0 0 0 Linda J Nihoul Board of Directors, Member 0.32 0 X 0 0 0 Glenn Osterhout Board of Directors, Member 0.32 0 X 0 0 0 Molly Philopant Board of Directors, Member 0.32 0 X 0 0 0 Gary Schneidmiller Board of Directors, Secretary 0.32 0 X 0 0 0 Jack Thompson Board of Directors, Member 0.32 0 X 0 0 0 Eugene J Voiland Board of Directors, Member 0.32 0 X 0 0 0 Bill Ward Board of Directors, Treasurer 0.32 0 X 0 0 0 3009388 0 442495 18 0 1 0 Ruffalo Noel Levitz 1025 Kirkwood Parkway SW Cedar Rapids IA 52404 Fundraising 349576 Ellucian 2003 Edmund Halley Drive Reston VA 20191 Consulting 308939 DHB Services 6106 S Autumn St Spokane WA 99224 Consulting 185000 State Street 801 Pennsylvania Ave Kansas City MO 64105 Custodian fees 146992 Pavilion 701 Market Street Suite 100 St Louis MO 63101 Investment management 112888 5 0 0 0 4947904 0 75153014 4439720 80100918 Advancement fee 900099 7907345 7907345 0 0 0 0 0 0 7907345 4350924 0 -74377 4425301 0 0 0 0 0 0 0 0 0 0 159474227 0 146462425 0 13011802 0 13011802 0 0 13011802 0 0 105370989 7907345 -74377 17437103 50644641 50644641 0 0 10039576 10039576 0 0 2603759 0 1674854 928905 0 0 0 0 5112055 137075 2600048 2374932 418412 11219 212809 194384 735526 19722 374097 341707 543973 14586 276671 252716 6981133 0 6981133 0 193052 0 61410 131642 31850 0 31850 0 0 0 0 0 519517 519517 1310125 1290282 19843 0 801679 0 801679 0 0 0 0 0 232939 0 174987 57952 625817 0 590193 35624 0 0 0 0 465572 8978 252637 203957 11385 0 1047 10338 0 0 0 0 257427 0 128333 129094 0 0 0 0 0 0 0 0 5998 116 3274 2608 59954 0 59954 0 Constituency support 1766345 0 0 1766345 Cultivation 433773 0 0 433773 Miscellaneous 208674 0 186028 22646 Campaign & Marketing 140935 0 0 140935 0 0 0 0 84144117 62166195 14430847 7547075 306717 192141 31641507 37950835 3402 2530 0 0 0 0 667895 423685 0 0 248534 385839 2127578 1592413 1211164 535165 443705385 588014605 0 0 0 79144076 88091878 556928680 715596678 1049420 973347 0 381514 356588 0 0 0 0 0 14091475 15058533 15522409 16388468 X 7295660 8215057 534110611 690993153 541406271 699208210 556928680 715596678 X 21226872 143116416 0 0 0 -6541349 X 0 1 X 1 0 X 58628741 65873280 63314752 64571549 75153014 327541336 58628741 65873280 63314752 64571549 75153014 327541336 327541336 2201989 3951116 5204551 4168221 4350924 19876801 795315 480770 0 577706 0 1853791 10883901 11337256 11937430 12408825 12855248 59422660 408694588 0.80143 0.77105 X Schedule A, Part II, Line 10 Other income as a percentage of revenue is comprised of: advancement fee at 7.5%, and support from Washington State University at 4.7%. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 0 0 0 1 59500 0 0 0 0 59500 0 Schedule C, Part II-B, Line 1 WSU Impact is a volunteer-run program associated with WSU Foundation. The majority of the program does is to prepare educational materials to the public. 1 0 1643475 1643475 0 0 443705386 25405488 144641975 0 25738244 0 588014605 453053627 23418777 -8282750 0 24484268 0 443705386 439594009 21314705 15298623 0 23153709 0 453053628 407062978 22895196 31335523 0 21699688 0 439594009 379368772 16218550 46022171 0 34546515 0 407062978 0 1 0 1 0 530000 0 530000 0 0 0 0 0 34868 33328 1540 0 391124 387499 3625 0 1171586 1171586 0 535165 0 0 Assets held in charitable trusts 30411741 Beneficial interest in perpetual trusts 41854963 Bequest receivable 1116756 Contribution receivable from charitable trusts 6121458 Due from WSU 8561010 Other receivable 25950 88091878 0 Annuities payable 13406176 Remainder interest payable 1652357 15058533 X 240616281 143116416 0 0 -7871124 135245292 105370989 0 0 0 105370989 82814341 0 0 0 0 0 82814341 1322989 6787 1329776 84144117 Schedule D, Part IV, Line 1b Donations received on behalf of Ruckelshaus Center Foundation and WSU's Endowment established prior to the formation of the Foundation - These are not recognized on the face of the Foundation's financial statements. Schedule D, Part V, Line 4 Endowment Funds are used by Washington State University in accordance with donor agreements for programs and initiatives such as, funding for purpose of scholarships, graduate fellowships, department chairs, distinguished professorships, research, instruction, libraries, operational support, and facilities. Schedule D, Part X, Line 2 The Foundation and its wholly owned subsidiaries have been recognized by the Internal Revenue Service as exempt from federal income taxes under section 501(a) of the Internal Revenue Code as organizations described in section 501(c)3 of the Internal Revenue Code. Unrelated business income is considered taxable income. Donations to the Foundation are generally tax deductible. Neither the Foundation nor its subsidiaries have unrecognized tax benefits that would have required an adjustment to net assets, nor unrecognized tax benefits at June 30, 2021 and 2020. Schedule D, Part XI, Line 2d Investment manager expense - $1,322,989 Change in the split-interest agreement - $6,541,348 Other - Negative expense - $6,787 Schedule D, Part XII, Line 4a Investment manager expense - $1,322,989 Other - Negative expense - $6,787 Schedule D, Part XII, Line 4b Negative expense East Asia and the Pacific 0 0 Fundraising 0 Europe (including Iceland and Greenland) 0 0 Fundraising 0 Middle East and North Africa 0 0 Fundraising 0 North America (including Canada and Mexico, but not the United States) 0 0 Fundraising 0 Russia and the newly independent States 0 0 Fundraising 0 South America 0 0 Fundraising 0 South Asia 0 0 Fundraising 0 Sub-Saharan Africa 0 0 Fundraising 0 Europe (including Iceland and Greenland) 0 0 Investments Investment at book value 13503667 0 0 13503667 Sub-Saharan Africa Research 524738 Wire transfer 0 Cash value Sub-Saharan Africa Research 1564234 Wire transfer 0 Cash value Central America and the Caribbean Research 393283 Wire transfer 0 Cash value Europe (including Iceland and Greenland) Tuition 6088 Wire transfer 0 Cash value Sub-Saharan Africa Research 7551233 Wire transfer 0 Cash value Sub-Saharan Africa Research 5600 Wire transfer 0 Cash value 5 1 1 0 1 1 1 0 Schedule F, Part I, Line 1 The Foundation did not make any grants to entities outside of the United States. However, some of the revenues given to Washington State University were used to fund overseas projects. Schedule F, Part I, Line 3 The diversified endowment portfolio includes investments with a company legally domiciled in the United Kingdom. The investments are recorded at book value - $13,503,667. X X X X X 1 Ruffalo Noel Levitz 1025 Kirkwood Parkway SW Cedar Rapids IA 52404 Solicitation 0 1043734 519517 524217 1043734 519517 524217 All States Schedule G, Part I, Line 2b Per the agreements with the fundraisers noted below, the Foundation paid both fees for services and expenses. The payments were made after the fundraisers submitted itemized invoices. The total payment made to Ruffalo Noel Levitz included services and expenses for the fiscal year was $557,295.93. Of this total, $519,517.11 was paid for services, and $37,778.82 was for miscellaneous expenses. 1 Washington State University NE Wilson Road Pullman WA 99164 919001108 Washington 47174653 3469988 Cost, FMV and appraisals Animal feed, animals, publications, vehicles, drugs & medical supplies, equipment, food, real estate Fulfill mission of the University. 1 0 Schedule I, Part I, Line 2 Washington State University Foundation's principal mission is to fundraise for Washington State University and its regional campuses. It also manages and invests the endowed gifts. All non-endowed donations and quarterly distributions from the endowment pool are deposited directly into the University's account. The funds are expended in accordance with the donor agreements provided to the University by the Foundation. Schedule I, Part II, Line 1 Column (g) Non-cash assistance include animal feed, animals, publications, vehicles, drugs & medical supplies, equipment, food, real estate, scientific specimens, works of arts and miscellaneous items. X 1 1 X X X X 0 0 0 0 0 0 0 0 0 Lisa D Calvert Vice President, Chief Executive Officer 375652 0 0 0 0 0 28500 0 11490 0 415642 0 0 0 JoAnn Grainger Senior Associate Vice President 303869 0 0 0 0 0 28500 0 11490 0 343859 0 0 0 George Keegan Senior Associate Vice President 299169 0 0 0 0 0 21375 0 11490 0 332034 0 0 0 Jon Thorsen Senior Associate Vice President 284025 0 0 0 0 0 27223 0 11490 0 322738 0 0 0 Michael Connell Senior Associate Vice President 239814 0 0 0 0 0 31039 0 11490 0 282343 0 0 0 Harold Don Shearer Senior Associate Vice President 163251 0 0 0 0 0 15752 0 11490 0 190493 0 0 0 Karen Rasch Director 155487 0 0 0 0 0 15766 0 11490 0 182743 0 0 0 Juan Zavala Associate Vice President 155614 0 0 0 0 0 11555 0 11490 0 178659 0 0 0 Theresa James Chief Financial Officer 143420 0 0 0 0 0 14467 0 11490 0 169377 0 0 0 Trevor Durham Associate Vice President 144490 0 0 0 0 0 11001 0 11490 0 166981 0 0 0 Victoria Miles Director 141770 0 0 0 0 0 10857 0 11490 0 164117 0 0 0 Amanto Marcotulli Director 137828 0 0 0 0 0 13969 0 11490 0 163287 0 0 0 Schedule J, Part I Compensation may include relocation costs and up to 4-month of living expenses for some new hires. This recruitment cost is taxable to the employee and is reportable on the form W-2 (Wages and tax statement). The Foundation utilizes a search committee to evaluate qualified candidates for skills, experiences, fit and conflict of interest. An external compensation specialist provides salary comparisons based on the state of Washington and national data. The documentation regarding deliberations, comparable data and compensation arrangements are maintained as part of the employee's permanent file. This process is followed for all hires within the WSU Foundation. Schedule J, Part I, Line 1a Employee's partner is allowed to travel for bona fide business purposes for up to $10,000 per calendar year and it is not taxable to the employee. K Duane Brelsford Board member 343306 Lease - Office space 0 X 9 36952 Expert opinion X 16756 Similar sales X 6616 Similar sales X 268 121907 Similar sales X 107 2863115 Similar sales X 2 541000 Appraisal X 9 10571 Cost X 4 28140 Similar sales X Animal feed 18 45494 Similar sales X Equipment 5 209235 Similar sales X Miscellaneous 112 559934 Similar sales 3 0 1 1 Schedule M, Part I Column (b): The Foundation reports a combination of both number of contributions and number of items received in this column. Schedule M, Part I, Lines 25-28 A minimal value of $1.00 is assigned to animals which failed/did not have a medical exam and those of advanced age. Similar sales are used for all other animals. The related feed is valued at cost. Schedule M, Part I, Line 32b The Foundation has contracted with Charitable Auto Resources, Inc (CARS) to administer and operate the Foundation's vehicle donation program. Form 990, Part I, Line 5 Washington State University processes payroll and files all payroll-related returns for the Foundation. Form 990, Part I, Line 6 Part-time volunteer services are largely provided by the Board of Directors and Advocates and Advocates Emeriti. Board members serve on the following committees: Executive, Governance, Audit, Finance, and Investment. Form 990, Part III, Line 1 The mission of the Foundation is to promote, accept, and maximize private support for programs, initiatives, and properties of Washington State University and its regional campuses. The Foundation also prudently manages, invests, and stewards assets entrusted to it. Form 990, Part V, Line 2b Washington State University processes payroll and files all payroll-related returns for the Foundation. Form 990, Part VI, Section A, Line 7a The Chair of the Board of Director is selected by the Governance Committee. Form 990, Part VI, Section B, Line 11b Review of the Form 990 prior to submission to the IRS - The Form 990, with all required schedules, is reviewed by the Foundation's Independent Audit Committee for presentation to the Foundation's Board of Directors and key officers of the organization. The Form 990 is then reviewed and accepted by all voting members of the Board to ensure that the financial information including all filings to the Secretary of State's Office represent, in all material respects, the financial condition and results of operations of the organization. The Form 990 with schedules is sent to each Board Member prior to their acceptance of the document. Form 990, Part VI, Section B, Line 12c Annually after the Fall meeting of the Foundation, the Board of Directors, all officers, and all other Members of the Foundation's standing committees are provided a copy of the WSU Foundation Conflicts of Interest Policy along with a questionnaire and certification statement. The policy is designed to help fiduciaries of the Foundation identify situations that present potential conflicts of interest and to emphasize the importance of adhering to high standards of responsibility, accountability, and public scrutiny. It describes what a conflict of interest is and the process necessary if one is identified. Under the policy, each Board of Director, officer, and standing committee member must file the annual certification statement, at or immediately following the annual meeting of the Foundation. This statement must set forth any conflicts of interest that might be expected to occur within the coming year. The statement shall disclose as fully as possible the nature of the potential conflicts and the nature of the individuals' (or their family members') interest in the potential transactions. All statements that anticipate conflicts of interest are then circulated to the full Board. In the interim, if any Board of Director or committee member or member of his/her family has or is about to assume an interest or other relationship which might result in a conflict of interest, it is the Board of Director's or committee member's responsibility to immediately disclose all material facts to the chair of the Board of Directors or the Chair of the Audit Committee. This conflict of interest process is managed by the internal Foundation Board Relations team which tracks and monitors submission of the annual certification statements and processes instances where a conflict is identified. If a Responsible Person is aware that the WSU Foundation is about to enter into any transaction or make any decision involving a conflict of interest (a "Conflicting Interest Transaction") such person shall: (i) immediately inform those charged with approving the Conflicting Interest Transaction on behalf of the WSU Foundation of the interest or position of such person or any party related to such person; (ii) aid the persons charged with making the decision by disclosing any material facts within the Responsible Person's knowledge that bear on the advisability of the WSU Foundation entering into the Conflicting Interest Transaction; and (iii) not be entitled to vote on the decision to enter into such transaction. Form 990, Part VI, Section B, Line 15 Line 15a, Compensation Review and Approval process - CEO & Top Management: The Foundation utilizes a search committee to evaluate qualified candidates for skills, experience, fit and conflict of interest. An external compensation specialist provides salary comparisons based on the state of Washington and national data. The documentation regarding deliberations, comparable data and compensation arrangements are maintained as part of the employees' permanent file. This process is followed for all hires within the WSU Foundation. This process is established and ongoing. Line 15b, Compensation Review and Approval process - Officers & Key Employees: The Foundation utilizes a search committee to evaluate qualified candidates for skills, experience, fit and conflict of interest. An external compensation specialist provides salary comparisons based on the state of Washington and national data. The documentation regarding deliberations, comparable data and compensation arrangements are maintained as part of the employees' permanent file. This process is followed for all hires within the WSU Foundation. This process is established and ongoing. Form 990, Part VI, Section C, Line 19 The Foundation makes its governing documents, Conflict of Interest Policy, and Financial Statements available to the public through its website - http://wsufoundation.wsu.edu/ and by request. Form 990, Part XI, Line 9 Change in the split interest agreement $-6,541,348. WSUF Properties LLC 255 E Main Street Suite 201 Pullman WA 99163 832089247 Assets held for WSU Foundation WA 10912 189122 WSU Foundation Cougar Property Holdings PO Box 641927 Pullman WA 991631927 912031421 Assets held for WSU Foundation WA 501 (c)(3) 12 (a) N/A 0 Ruckelshaus Center 215 Hulbert Hall Pullman WA 99163 204490085 Collaborative problem solving WA 501 (c)(3) 7 N/A 0 Chartiable Remainder UT (43) PO Box 641927 Pullman WA 991631927 Charitable trusts WA N/A T 0 0 0 Charitable Remainder AT (3) PO Box 641927 Pullman WA 991641927 Charitable trusts WA N/A T 0 0 0 Charitable Lead Trust (1) PO Box 641927 Pullman WA 991641927 Charitable trusts WA N/A T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 1 1 Ruckelshaus Center r 871338 Cash Chartiable Remainder UT (43) s 2745427 Cash Charitable Remainder AT (3) s 638187 Cash