MICHIGAN STATE UNIVERSITY FOUNDATION: Form 990, tax year 2020
View the entire original 990 at ProPublica ↗
- Organization
- MICHIGAN STATE UNIVERSITY FOUNDATION (EIN 23-7326030)
- Tax period
- 2020-07-01 to 2021-06-30
- Filed
- 2022-05-13
- IRS object ID
- 202231339349308263
- Schema version
- 2020v4.2
- 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 | 2022-05-13T16:02:09-05:00 | ReturnTs |
| Tax Period End | 2021-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 366055558 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GRANT THORNTON LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 171 N CLARK ST SUITE 200 | AddressLine1Txt |
| City | CHICAGO | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 60601 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2020-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 237326030 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MICHIGAN STATE UNIVERSITY FOUNDATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | MICH | BusinessNameControlTxt |
| Phone | 5173539268 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 325 E GRAND RIVER AVE NO 275 | AddressLine1Txt |
| City | EAST LANSING | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 48823 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DAVID WASHBURN | PersonNm |
| Person Title | EXECUTIVE DIRECTOR | PersonTitleTxt |
| Phone | 5173539268 | PhoneNum |
| Signature | 2022-05-15 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | DAVID | PersonFirstNm |
| Person Last | WASHBURN | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | XXX-XX-XXXX | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | BRIDGET T ROCHE | PreparerPersonNm |
| PTIN | P00666837 | PTIN |
| Phone | 3128560200 | 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 | 2020 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | DAVID WASHBURN | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 325 E GRAND RIVER AVE NO 275 | AddressLine1Txt |
| City | EAST LANSING | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 48823 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $202,227,431 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Group Exemption | 5167 | GroupExemptionNum |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.MSUFOUNDATION.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1973 | FormationYr |
| Legal Domicile State | MI | LegalDomicileStateCd |
| Activity Or Mission | TO PROVIDE SUPPORT FOR THE BOARD OF TRUSTEES OF MICHIGAN STATE UNIVERSITY (CONTINUED IN SCHEDULE O) AND TO PROMOTE, SPONSOR, ASSIST, AND CARRY OUT EDUCATIONAL, SCIENTIFIS, CHARITABLE AND RELATED ACTIVITIES AND OBJECTIVES OF MICHIGAN STATE UNIVERSITY. | ActivityOrMissionDesc |
| Voting Members Governing Body | 20 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 19 | VotingMembersIndependentCnt |
| Total Employee | 25 | TotalEmployeeCnt |
| Total Volunteers | 21 | TotalVolunteersCnt |
| Total Gross UBI | $1,761,258 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $269,895 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $1,698,782 | PYContributionsGrantsAmt |
| CY Contributions Grants | $3,897,622 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $0 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $359,800 | CYProgramServiceRevenueAmt |
| PY Investment Income | $14,389,536 | PYInvestmentIncomeAmt |
| CY Investment Income | $49,675,807 | CYInvestmentIncomeAmt |
| PY Other Revenue | $632,581 | PYOtherRevenueAmt |
| CY Other Revenue | $1,917,709 | CYOtherRevenueAmt |
| PY Total Revenue | $16,720,899 | PYTotalRevenueAmt |
| CY Total Revenue | $55,850,938 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $14,256,763 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $12,203,569 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $3,923,855 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $2,737,669 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $6,019,191 | PYOtherExpensesAmt |
| CY Other Expenses | $4,574,657 | CYOtherExpensesAmt |
| PY Total Expenses | $24,199,809 | PYTotalExpensesAmt |
| CY Total Expenses | $19,515,895 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$7,478,910 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $36,335,043 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $407,199,391 | TotalAssetsBOYAmt |
| Total Assets EOY | $535,425,307 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $27,285,039 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $37,012,623 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $379,914,352 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $498,412,684 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | TO PROVIDE SUPPORT FOR THE BOARD OF TRUSTEES OF MICHIGAN STATE UNIVERSITY AND TO PROMOTE, SPONSOR, ASSIST, AND CARRY OUT EDUCATIONAL, SCIENTIFIC, CHARITABLE AND RELATED ACTIVITIES AND OBJECTIVES OF MICHIGAN STATE UNIVERSITY. | MissionDesc |
| Significant New Program Srvc | Yes (1) | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $14,204,679 | ExpenseAmt |
| Grant | $12,203,569 | GrantAmt |
| Revenue | $359,800 | RevenueAmt |
| Desc | GRANTING FUNDS TO ADVANCE RESEARCH AND THE UNIVERSITY'S SCHOLARLY INFRASTRUCTURE OF TEACHING AND DISSEMINATION OF NEW KNOWLEDGE, UNDERWRITING MSU'S WORK IN TECHNOLOGY COMMERCIALIZATION, DEVELOPING, SCALING AND DE-RISKING BIO BASED TECHNOLOGIES THROUGH MBI INTERNATIONAL, A WHOLLY-OWNED FOUNDATION SUBSIDIARY, FOSTERING THE CREATION OF STARTUP ENTERPRISES ORIGINATING FROM MSU THROUGH THE FOUNDATION'S SPARTAN INNOVATIONS, MICHIGAN RISE PRE-SEED FUND III AND INVESTMENT HOLDINGS SUBSIDIARIES, AND PROVIDING FACILITIES AND BUILDING SITES AT THE UNIVERSITY CORPORATE RESEARCH PARK FOR TECHNOLOGY ENTERPRISES, UNIVERSITY TECHNOLOGY-DEVELOPMENT INITIATIVES, AND UNIVERSITY/INDUSTRY COLLABORATIONS. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $978,363 | ExpenseAmt |
| Desc | SPARTAN INNOVATIONS PROVIDES THE EDUCATIONAL AND FINANCIAL SUPPORT NECESSARY TO TURN MSU RESEARCH TECHNOLOGIES INTO SUCCESSFUL MICHIGAN BUSINESSES - AND SPUR ENTREPRENEURSHIP IN THE MICHIGAN ECONOMY. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $15,183,042 | 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 | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (1) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | 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 | Yes (1) | 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 | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | Yes (1) | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | 0 | TransactionWithControlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 41 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 25 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | Yes (1) | ForeignFinancialAccountInd |
| Foreign Country | CJ | ForeignCountryCd |
| 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 |
| 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 | 20 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 19 | IndependentVotingMemberCnt |
| Family Or Business Rln | Yes (1) | 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 | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | CA | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | FL | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | IA | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | KS | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | MO | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | NC | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | ND | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | NM | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | OK | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | VA | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | MI | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | REBEKAH SKRZYNIARZ | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 5173539268 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 325 E GRAND RIVER AVE SUITE 275 | AddressLine1Txt |
| City | EAST LANSING | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 48823 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (29 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|---|---|
| DAVID WASHBURN | ||||||||||
| EXECUTIVE DIRECTOR | 40.00 | 3.00 | Yes (X) | Yes (X) | $381,744 | $0 | $54,355 | |||
| TRACI CANNON | ||||||||||
| FMR SPECIAL PROJECTS (THRU 6/2020) | 0.00 | 0.00 | $327,955 | $0 | $21,626 | Yes (X) | ||||
| JEFFREY WESLEY | ||||||||||
| EXECUTIVE DIRECTOR | 40.00 | 0.00 | $265,557 | $0 | $50,727 | Yes (X) | ||||
| FRANK URBAN | ||||||||||
| DIRECTOR OF VENTURE CREATION | 40.00 | 0.00 | $141,368 | $0 | $41,348 | Yes (X) | ||||
| BRADLEY FINGLAND | ||||||||||
| DIRECTOR OF VENTURE CREATION | 40.00 | 0.00 | $140,872 | $0 | $29,189 | Yes (X) | ||||
| PREM BODAGALA | ||||||||||
| DIRECTOR OF RED CEDAR VENTURES | 40.00 | 0.00 | $138,888 | $0 | $25,856 | Yes (X) | ||||
| REBEKAH SKRZYNIARZ | ||||||||||
| DIRECTOR OF FINANCE | 40.00 | 2.00 | Yes (X) | $129,354 | $0 | $31,780 | ||||
| MELISSA WOO | ||||||||||
| PRESIDENT | 2.00 | 0.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |||
| RANDOLPH COWEN | ||||||||||
| CHAIRMAN | 2.00 | 0.20 | Yes (X) | Yes (X) | $0 | $0 | $0 | |||
| SCOTT ESTON | ||||||||||
| VICE CHAIRMAN | 2.00 | 0.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |||
| JOHN PHILLIPS | ||||||||||
| SECRETARY | 2.00 | 0.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |||
| BRUCE LEECH | ||||||||||
| TREASURER | 2.00 | 0.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |||
| JON BRAEUTIGAM | ||||||||||
| DIRECTOR | 2.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||||
| KERMITT BROOKS | ||||||||||
| DIRECTOR (BEG 9/2020) | 2.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||||
| DIANNE BYRUM | ||||||||||
| DIRECTOR (THRU 2/2021) | 2.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||||
| JEFFREY DEGRAAF | ||||||||||
| DIRECTOR | 2.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||||
| MELANIE FOSTER | ||||||||||
| DIRECTOR | 2.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||||
| DOUGLAS GAGE | ||||||||||
| DIRECTOR | 2.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||||
| PATRICIA HEMINGWAY HALL | ||||||||||
| DIRECTOR | 2.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||||
| STEVE HSU | ||||||||||
| DIRECTOR (THRU 7/2020) | 2.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||||
| LINDA HUBBARD | ||||||||||
| DIRECTOR | 2.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||||
| PAT O'KEEFE | ||||||||||
| DIRECTOR (BEG 2/2021) | 2.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||||
| WILLIAM SEIFERT | ||||||||||
| DIRECTOR | 2.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||||
| STAN SOKOLOWSKI | ||||||||||
| DIRECTOR | 2.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||||
| SAMUEL L STANLEY JR MD | ||||||||||
| DIRECTOR | 2.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||||
| JANICE STIPP | ||||||||||
| DIRECTOR | 2.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||||
| TERESA SULLIVAN | ||||||||||
| DIRECTOR (THRU 9/2020) | 2.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||||
| JOEL WITTENBERG | ||||||||||
| DIRECTOR | 2.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||||
| TERESA WOODRUFF | ||||||||||
| DIRECTOR (BEG 8/2020) | 2.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,525,738 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $254,881 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 7 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | Yes (1) | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (2 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| CAMBRIDGE ASSOCIATES LLC | |||||
| PO BOX 83232 | CHICAGO | IL | 606910232 | CONSULTING SERVICES | $453,577 |
| GRANT THORNTON LLP | |||||
| 171 N CLARK ST SUITE 200 | CHICAGO | IL | 60601 | ACCOUNTING SERVICES | $101,200 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 2 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $3,236,011 | GovernmentGrantsAmt |
| All Other Contributions | $661,611 | AllOtherContributionsAmt |
| Total Contributions | $3,897,622 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| MANAGEMENT FEE REVENUE | 900099 | $326,300 | $326,300 |
| SPONSORSHIP | 900099 | $33,500 | $33,500 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $359,800 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,971,853 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | $172,988 | UnrelatedBusinessRevenueAmt |
| Exclusion | $2,798,865 | ExclusionAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,767,398 | TotalRevenueColumnAmt |
| Exclusion | $1,767,398 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $193,080,447 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $146,376,493 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $46,703,954 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $46,703,954 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | $1,588,270 | UnrelatedBusinessRevenueAmt |
| Exclusion | $45,115,684 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | ExclusionExclusionAmt |
|---|---|---|---|
| MISCELLANEOUS REVENUE | 900099 | $150,001 | $150,001 |
| REBATE REVENUE | 900099 | $310 | $310 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $150,311 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $55,850,938 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $359,800 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $1,761,258 | UnrelatedBusinessRevenueAmt |
| Exclusion | $49,832,258 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $12,203,569 | TotalAmt |
| Program Services | $12,203,569 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,028,872 | TotalAmt |
| Program Services | $823,098 | ProgramServicesAmt |
| Management And General | $205,774 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,331,192 | TotalAmt |
| Program Services | $1,198,073 | ProgramServicesAmt |
| Management And General | $133,119 | ManagementAndGeneralAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $97,674 | TotalAmt |
| Program Services | $87,907 | ProgramServicesAmt |
| Management And General | $9,767 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $219,593 | TotalAmt |
| Program Services | $197,634 | ProgramServicesAmt |
| Management And General | $21,959 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $60,338 | TotalAmt |
| Program Services | $54,304 | ProgramServicesAmt |
| Management And General | $6,034 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $31,542 | TotalAmt |
| Program Services | $8,558 | ProgramServicesAmt |
| Management And General | $22,984 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $353,824 | TotalAmt |
| Program Services | $177,151 | ProgramServicesAmt |
| Management And General | $176,673 | ManagementAndGeneralAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,320,063 | TotalAmt |
| Program Services | $33,496 | ProgramServicesAmt |
| Management And General | $3,286,567 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $20,159 | TotalAmt |
| Program Services | $10,079 | ProgramServicesAmt |
| Management And General | $10,080 | ManagementAndGeneralAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $76,674 | TotalAmt |
| Program Services | $41,465 | ProgramServicesAmt |
| Management And General | $35,209 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $86,475 | TotalAmt |
| Program Services | $21,619 | ProgramServicesAmt |
| Management And General | $64,856 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $45,793 | TotalAmt |
| Program Services | $11,448 | ProgramServicesAmt |
| Management And General | $34,345 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $137,864 | TotalAmt |
| Program Services | $34,466 | ProgramServicesAmt |
| Management And General | $103,398 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,492 | TotalAmt |
| Program Services | $373 | ProgramServicesAmt |
| Management And General | $1,119 | ManagementAndGeneralAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,995 | TotalAmt |
| Program Services | $749 | ProgramServicesAmt |
| Management And General | $2,246 | ManagementAndGeneralAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $12,242 | TotalAmt |
| Management And General | $12,242 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $102,453 | TotalAmt |
| Management And General | $102,453 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| BAD DEBT EXPENSE | $270,839 | $270,839 | |
| UNRELATED BUSINESS TAX | $78,146 | $78,146 | |
| SUBS/ONLINE SERVICES | $28,721 | $7,180 | $21,541 |
| MEMBERSHIPS | $4,136 | $1,034 | $3,102 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,239 | TotalAmt |
| Management And General | $1,239 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $19,515,895 | TotalAmt |
| Program Services | $15,183,042 | ProgramServicesAmt |
| Management And General | $4,332,853 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,184,589 | BOYAmt |
| EOY | $1,205,041 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $15,080,493 | BOYAmt |
| EOY | $21,985,143 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,291,219 | BOYAmt |
| EOY | $2,626,980 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,033,067 | BOYAmt |
| EOY | $3,082,835 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $50,641 | BOYAmt |
| EOY | $55,181 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $9,540,410 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $28,652 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,742,635 | BOYAmt |
| EOY | $9,511,758 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $175,982,467 | BOYAmt |
| EOY | $191,928,835 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $193,066,416 | BOYAmt |
| EOY | $278,012,038 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $5,508,554 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $15,767,864 | BOYAmt |
| EOY | $21,508,942 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $407,199,391 | BOYAmt |
| EOY | $535,425,307 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,073,833 | BOYAmt |
| EOY | $2,957,323 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,856,420 | BOYAmt |
| EOY | $19,883,743 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $6,047,524 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,354,786 | BOYAmt |
| EOY | $8,124,033 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $27,285,039 | BOYAmt |
| EOY | $37,012,623 | 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 | $343,581,972 | BOYAmt |
| EOY | $457,180,437 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $36,332,380 | BOYAmt |
| EOY | $41,232,247 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $379,914,352 | BOYAmt |
| EOY | $498,412,684 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $407,199,391 | BOYAmt |
| EOY | $535,425,307 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $36,335,043 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $79,376,892 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $2,786,397 | OtherChangesInNetAssetsAmt |
| 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) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| 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 | $4,297,601 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $9,276,982 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $2,317,054 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $1,698,782 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $3,897,622 | CurrentTaxYearAmt |
| Total | $21,488,041 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $4,297,601 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $9,276,982 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $2,317,054 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $1,698,782 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $3,897,622 | CurrentTaxYearAmt |
| Total | $21,488,041 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total170 | $21,488,041 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $6,465,462 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $10,131,881 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $9,350,559 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $8,024,217 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $4,739,251 | CurrentTaxYearAmt |
| Total | $38,711,370 | TotalAmt |
Unrelated Business Net Incm170 UnrelatedBusinessNetIncm170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $113,738 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $0 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $499,088 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $0 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $442,883 | CurrentTaxYearAmt |
| Total | $1,055,709 | TotalAmt |
Other Income170 OtherIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $7,958 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year | $150,311 | CurrentTaxYearAmt |
| Total | $158,269 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $61,413,389 | TotalSupportAmt |
| Gross Receipts Rltd Activities | $409,053 | GrossReceiptsRltdActivitiesAmt |
| Public Support CY170 | 0.34990 | PublicSupportCY170Pct |
| Public Support PY170 | 0.38120 | PublicSupportPY170Pct |
| Thirty Thr Pct Suprt Tests CY170 | Yes (X) | ThirtyThrPctSuprtTestsCY170Ind |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: | FormAndLineReferenceDesc |
| Explanation | FEE FOR VIOLATION ON CONTRACT - 2016 AMOUNT: $ 0. 2017 AMOUNT: $ 0. 2018 AMOUNT: $ 0. 2019 AMOUNT: $ 0. 2020 AMOUNT: $ 150,001. REBATE REVENUE - 2016 AMOUNT: $ 0. 2017 AMOUNT: $ 0. 2018 AMOUNT: $ 0. 2019 AMOUNT: $ 0. 2020 AMOUNT: $ 310. MISCELLANEOUS REVENUE - 2016 AMOUNT: $ 7,958. 2017 AMOUNT: $ 0. 2018 AMOUNT: $ 0. 2019 AMOUNT: $ 0. 2020 AMOUNT: $ 0. | ExplanationTxt |
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
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $7,411,525 | InvestmentCostOrOtherBasisAmt |
| Book Value | $7,411,525 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $24,828 | OtherCostOrOtherBasisAmt |
| Depreciation | $7,492 | DepreciationAmt |
| Book Value | $17,336 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $36,930 | OtherCostOrOtherBasisAmt |
| Depreciation | $21,160 | DepreciationAmt |
| Book Value | $15,770 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,067,127 | OtherCostOrOtherBasisAmt |
| Book Value | $2,067,127 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $9,511,758 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp (2 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| VENTURE CAPITAL INVESTMENT | $151,082,350 | F |
| LIMITED PARTNERSHIPS | $126,929,688 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $278,012,038 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (3 entries)
| DescDesc | AmtAmt |
|---|---|
| ANNUITIES PAYABLE | $6,344,747 |
| DUE TO RELATED ENTITIES | $1,347,655 |
| LIFE ESTATE AGREEMENT OBLIGATIONS | $431,631 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $8,124,033 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | FIN 48 FOOTNOTE THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE INTERNAL REVENUE CODE (CODE) SECTION 501(C)(3), AND IS ALSO NOT A PRIVATE FOUNDATION UNDER THE MEANING OF THE CODE, SECTION 509(A)(1). HOWEVER, INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO THE FOUNDATION'S TAX-EXEMPT PURPOSE IS SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. THE FOUNDATION RECORDED FEDERAL AND STATE UNRELATED BUSINESS INCOME TAX EXPENSE IN THE AMOUNT OF $78,156 AND $48,856 DURING FISCAL YEARS 2021 AND 2020, RESPECTIVELY. SPARTAN INNOVATIONS IS A LOW-PROFIT, LIMITED LIABILITY COMPANY AND IS TREATED AS A DISREGARDED ENTITY (AN ENTITY THAT IS NOT RECOGNIZED AS AN ENTITY SEPARATE FROM ITS OWNER, THE FOUNDATION) FOR INCOME TAX PURPOSES. INVESTMENT HOLDINGS LLC AND RED CEDAR VENTURES ARE FOR-PROFIT LIMITED LIABILITY COMPANIES AND ARE TREATED AS DISREGARDED ENTITIES FOR INCOME TAX PURPOSES. THE ORGANIZATION RECORDS INTEREST AND PENALTIES RELATED TO TAX POSITIONS AS INTEREST EXPENSE OR OTHER EXPENSES, RESPECTIVELY, IN THE CONSOLIDATED STATEMENTS OF ACTIVITIES AND CHANGES IN NET ASSETS. THERE WERE NO MATERIAL INTEREST AND PENALTIES. | ExplanationTxt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable
Recipient Business Name RecipientBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MICHIGAN STATE UNIVERSITY BOARD OF TRUSTEES | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 325 E GRAND RIVER AVE STE 275 | AddressLine1Txt |
| City | EAST LANSING | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 48824 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient EIN | 386005984 | RecipientEIN |
| IRC Section | 115 | IRCSectionDesc |
| Cash Grant | $12,203,569 | CashGrantAmt |
| Purpose Of Grant | SUPPORT UNIVERSITY | PurposeOfGrantTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 1 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS ALL GRANTS TO MICHIGAN STATE UNIVERSITY ARE DISCUSSED AND APPROVED BY THE EXECUTIVE COMMITTEE, GRANTS COMMITTEE, AND BOARD OF DIRECTORS. DISBURSEMENTS ARE MADE THROUGHOUT THE YEAR AS FUNDS ARE REQUESTED. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | Yes (1) | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (7 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DAVID WASHBURN | ||||||||||||||
| EXECUTIVE DIRECTOR | $317,672 | $0 | $55,750 | $0 | $8,322 | $0 | $28,500 | $0 | $25,855 | $0 | $436,099 | $0 | $0 | $0 |
| TRACI CANNON | ||||||||||||||
| FMR SPECIAL PROJECTS (THRU 6/2020) | $92,560 | $0 | $0 | $0 | $235,395 | $0 | $9,511 | $0 | $12,115 | $0 | $349,581 | $0 | $0 | $0 |
| JEFFREY WESLEY | ||||||||||||||
| EXECUTIVE DIRECTOR | $236,900 | $0 | $26,500 | $0 | $2,157 | $0 | $23,600 | $0 | $27,127 | $0 | $316,284 | $0 | $0 | $0 |
| FRANK URBAN | ||||||||||||||
| DIRECTOR OF VENTURE CREATION | $127,108 | $0 | $14,000 | $0 | $260 | $0 | $12,981 | $0 | $28,367 | $0 | $182,716 | $0 | $0 | $0 |
| BRADLEY FINGLAND | ||||||||||||||
| DIRECTOR OF VENTURE CREATION | $126,692 | $0 | $14,000 | $0 | $180 | $0 | $12,981 | $0 | $16,208 | $0 | $170,061 | $0 | $0 | $0 |
| PREM BODAGALA | ||||||||||||||
| DIRECTOR OF RED CEDAR VENTURES | $124,708 | $0 | $14,000 | $0 | $180 | $0 | $12,981 | $0 | $12,875 | $0 | $164,744 | $0 | $0 | $0 |
| REBEKAH SKRZYNIARZ | ||||||||||||||
| DIRECTOR OF FINANCE | $115,192 | $0 | $14,000 | $0 | $162 | $0 | $12,019 | $0 | $19,761 | $0 | $161,134 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 7 | FormAndLineReferenceDesc |
| Explanation | COMPENSATION INCLUDES BOTH BASE AND VARIABLE COMPENSATION (NON-FIXED PAYMENTS). IN ACCORDANCE WITH ITS POLICIES, ALL ELEMENTS (BASE, VARIABLE, BENEFITS, AND PERQUISITES) ARE COMPARED TO MARKET. FOR THOSE INDIVIDUALS LISTED IN FORM 990, PART VII, SECTION A, LINE 1A, WHO ARE ELIGIBLE, BONUSES ARE PAID PURSUANT TO THEIR SERVICE AGREEMENT WITH THE ORGANIZATION. BONUS AMOUNTS ARE PROPOSED BY THE INDIVIDUALS SUPERVISOR TO THE EXECUTIVE DIRECTOR AND DIRECTOR OF FINANCE. THE BOARD CHAIR APPROVES FINAL BONUS AMOUNTS. BONUS AMOUNTS PAID ARE DIRECTLY CORRELATED TO THE INDIVIDUALS PERFORMANCE AND GOAL ACHIEVEMENT. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART I, LINE 6: | THE NUMBER OF VOLUNTEERS IS THE TOTAL FOR MSU FOUNDATION AND SPARTAN INNOVATIONS. |
| FORM 990, PART III, LINE 2 | MICHIGAN RISE PRE-SEED FUND III, LLC WAS ADDED DURING THE YEAR AND PROVIDES EARLY STAGE FINANCING FOR COMPANIES IN THE STATE OF MICHIGAN. |
| FORM 990, PART VI, SECTION A, LINE 1 | DELEGATION OF AUTHORITY ACCORDING TO THE ORGANIZATION'S BY-LAWS, A SIX-MEMBER EXECUTIVE COMMITTEE, CONSISTING OF THE CHAIRPERSON OF THE BOARD, THE VICE CHAIRPERSON, THE PRESIDENT, THE SECRETARY, THE TREASURER, AND EXECUTIVE DIRECTOR TO ACHIEVE A MEMBERSHIP OF SIX. DURING THE INTERVALS BETWEEN MEETINGS OF THE BOARD, THE EXECUTIVE COMMITTEE SHALL HAVE AND MAY EXERCISE ON BEHALF OF THE BOARD ALL OF THE AUTHORITY OF THE BOARD IN RESPECT TO THE MANAGEMENT OF THE FOUNDATION. THE EXECUTIVE COMMITTEE SHALL OVERSEE BUDGETARY AND FISCAL POLICY AND MAKE RECOMMENDATIONS TO THE BOARD REGARDING THE GENERAL FISCAL POLICY OF THE FOUNDATION. THE EXECUTIVE COMMITTEE SHALL REPORT ITS ACTS TO THE BOARD AT THE NEXT REGULARLY SCHEDULED MEETING OF THE BOARD. |
| FORM 990, PART VI, SECTION A, LINE 2 | BUSINESS RELATIONSHIPS CERTAIN LISTED OFFICERS AND BOARD MEMBERS ALSO SERVE AS OFFICERS AND BOARD MEMBERS OF A RELATED ENTITY. |
| FORM 990, PART VI, SECTION B, LINE 11B | ORGANIZATION'S PROCESS TO REVIEW FORM 990 THE FORM 990 WAS PREPARED BY A NATIONAL INDEPENDENT ACCOUNTING FIRM IN CONJUNCTION WITH THE ORGANIZATION'S INTERNAL FINANCE DEPARTMENT. A DRAFT OF THE RETURN IS REVIEWED BY THE DIRECTOR OF FINANCE, EXECUTIVE DIRECTOR, AND INTERNAL ACCOUNTING PERSONNEL. FOLLOWING THE REVIEW AND APPROVAL THE FORM 990 WAS PROVIDED TO EACH OF THE OTHER VOTING MEMBERS OF THE BOARD OF DIRECTORS PRIOR TO THE FILING. |
| FORM 990, PART VI, SECTION B, LINE 12C | ENFORCEMENT OF CONFLICTS POLICY: CONFLICT OF INTEREST STATEMENT IS SIGNED BY EACH BOARD MEMBER AT THE START OF EACH NEW CALENDAR YEAR. IF THE BOARD MEMBER IS NOT ABLE TO SIGN OR IF THEY DISCLOSE THAT THERE IS A CONFLICT, THIS IS DISCUSSED WITH THE GOVERNING BOARD. |
| FORM 990, PART VI, SECTION B, LINE 15 | COMPENSATION PROCESS FOR TOP OFFICIAL UPON HIRING THE EXECUTIVE DIRECTOR, THE FOUNDATION UTILIZES INDEPENDENT CONSULTANTS AND THE FOUNDATION'S COMPENSATION COMMITTEE TO PREPARE A WRITTEN OFFER OF EMPLOYMENT LETTER. IN ADDITION, COMPENSATION OF THE EXECUTIVE DIRECTOR IS REVIEWED BY THE COMPENSATION COMMITTEE EACH YEAR AND COMPENSATION IS ADJUSTED ACCORDINGLY. COMPENSATION PROCESS FOR OFFICERS COMPENSATION OF THE FOUNDATION'S MANAGEMENT TEAM AND REMAINING STAFF IS REVIEWED AND APPROVED AS A SALARY LINE ITEM BY THE BOARD OF DIRECTORS DURING THE ANNUAL (JUNE) BUDGETING PROCESS AND IS DOCUMENTED IN THE BOARD MEETING MINUTES. ANNUALLY, SALARIES ARE REVIEWED BY THE EXECUTIVE DIRECTOR AND CHIEF FINANCIAL OFFICER WITH LOCAL AND NATIONAL COMPARATIVES TO JOB DESCRIPTIONS FOUND ON THE INTERNET AND WITHIN THE MSU STRUCTURE. |
| FORM 990, PART VI, SECTION C, LINE 19 | AVAILABLE UPON REQUEST. |
| FORM 990, PART XI, LINE 9: | CAPITAL CONTRIBUTION - SPARTAN INNOVATIONS 653,500. CAPITAL CONTRIBUTION - INVESTMENT HOLDINGS 1,550,000. CAPITAL CONTRIBUTION - MI RISE 3,556,875. GAIN/LOSS IN SUBSIDIARY -1,322,973. SATISFACTION OF PROGRAM RESTRICTIONS -1,651,005. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp (5 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Total IncomeTotalIncomeAmt | End Of Year AssetsEndOfYearAssetsAmt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt |
|---|---|---|---|---|---|---|---|---|---|
| SPARTAN INNOVATIONS | |||||||||
| 325 E GRAND RIVER SUITE 275 | EAST LANSING | MI | 48823 | 460683865 | ENTERPRENEUR | MI | $230,644 | $530,691 | MSU FOUNDATION |
| INVESTMENT HOLDINGS LLC | |||||||||
| 325 E GRAND RIVER SUITE 275 | EAST LANSING | MI | 48823 | 464056160 | INVESTMENT | MI | $464,079 | $5,156,424 | MSU FOUNDATION |
| FOUNDATION PARK I LLC | |||||||||
| 325 E GRAND RIVER SUITE 275 | EAST LANSING | MI | 48823 | 802432427 | INVESTMENT | MI | $0 | $8,114,651 | MSU FOUNDATION |
| MICHIGAN RISE PRE-SEED FUND III LLC | |||||||||
| 325 E GRAND RIVER SUITE 275 | EAST LANSING | MI | 48823 | 802482435 | INVESTMENT | MI | $191,214 | $3,749,217 | MSU FOUNDATION |
| TECHNOLOGY INVESTMENTS I LLC | |||||||||
| 325 E GRAND RIVER SUITE 275 | EAST LANSING | MI | 48823 | 320421927 | INVESTMENT | DE | $0 | $0 | INVESTMENT HOLD |
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CHARITABLE REMAINDER TRUSTS (1) | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 000000000 | EIN |
| Primary Activities | N/A | PrimaryActivitiesTxt |
| Legal Domicile State | MI | LegalDomicileStateCd |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MSU FOUNDATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Controlled Organization | 0 | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | Yes (1) | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | Yes (1) | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | Yes (1) | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | Yes (1) | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (1) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | Yes (1) | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | Yes (1) | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |