2021-02-03T12:46:49-06:00 2020-06-30 410746749 CLIFTONLARSONALLEN LLP 220 S 6TH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2019-07-01 816001649 MONTANA STATE UNIVERSITY FOUNDATION INC MONT 4069942053 1501 SOUTH 11TH AVE PO BOX 172750 BOZEMAN MT 597172750 CHRIS MURRAY CEO/PRESIDENT 4069942053 2021-01-22 1 KAREN GRIES P00078514 6123764500 2021-01-22 2019 2022-09-23 18:48:47Z MSU ALUMNI FOUNDATION CHRIS MURRAY 1501 SOUTH 11TH AVE PO BOX 172750 BOZEMAN MT 597172750 78046722 0 X WWW.MSUAF.ORG X 1946 MT CULTIVATE LIFELONG RELATIONSHIPS AND SECURE PRIVATE SUPPORT TO ADVANCE MONTANA STATE UNIVERSITY. 23 23 84 239 -456950 0 34881656 25949603 2762514 2926181 3116520 2258824 500995 558247 41261685 31692855 25321818 15168430 0 0 5045085 5212726 259031 262613 3033601 2103732 1874120 32729666 22517889 8532019 9174966 268984738 271741291 18326322 18249258 250658416 253492033 WE CULTIVATE LIFELONG RELATIONSHIPS AND SECURE PRIVATE SUPPORT TO ADVANCE MONTANA STATE UNIVERSITY. 0 0 8671294 8671294 1663071 MSUAF PROVIDED MONTANA STATE UNIVERSITY WITH PRIVATE DOLLARS TO ADVANCE ITS LAND-GRANT MISSION TO INTEGRATE EDUCATION, CREATE KNOWLEDGE AND ART AND SERVE COMMUNITIES. MSUAF PROVIDED $5 MILLION TO ENRICH INSTRUCTION, RESEARCH, AND PUBLIC SERVICE OF ITS 16,766 STUDENTS AS WELL AS $3.7 MILLION TO CONSTRUCT AND EQUIP FACILITIES THAT ENHANCE THEIR RESEARCH AND LEARNING ENVIRONMENTS. 6497136 6497136 1161038 MSUAF PROVIDED 2,796 STUDENTS WITH SCHOLARSHIPS TO ATTEND MONTANA STATE UNIVERSITY. SCHOLARSHIPS ALLOWED THESE STUDENTS TO PURSUE ADVANCED EDUCATION, LESSENING THE BURDEN OF TUITION, HOUSING, AND FEES. 816660 0 102072 ALUMNI ENGAGEMENT CONNECTS OVER 140,000 ALUMNI AND FRIENDS OF MONTANA STATE UNIVERSITY THROUGH INCLUSIVE COMMUNICATIONS, EVENTS, AND AFFILIATE NETWORKS. OVER 11,000 ALUMNI WERE APPRISED REGULARLY OF MSU NEWS, EVENTS, AND INVITATIONS TO CONNECT WITH ONE ANOTHER. 256 EVENTS BROUGHT PROGRAMS, MEANINGFUL EXPERIENCES AND UNIQUE OPPORTUNITIES ANNUALLY TO OVER 12,000 ALUMNI, FRIENDS, SUPPORTERS AND FANS, THAT PROVIDE FOR CONNECTION TO AND ENGAGEMENT WITH MSU. 15985090 1 1 0 1 0 0 0 0 0 1 1 1 0 0 1 1 0 1 0 0 1 0 0 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 0 0 1 44 0 1 84 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 23 23 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 VP OF FINANCE 4069942053 1501 SOUTH 11TH AVE PO BOX 172750 BOZEMAN MT 597172750 CHRISTOPHER MURRAY PRESIDENT & CEO 50.00 X 283921 0 40644 MARY JANE MCGARITY VP DEVELOPMENT 40.00 X 131918 0 26643 KATHLEEN SAYLOR VP OPERATIONS 40.00 X 134263 0 21983 MELISSA KINNEAR VP FINANCE & ACCTG 50.00 X 99942 0 25421 KEVIN BROWN AVP DEVELOP, ESTATE, TRUST, GIFT PLANNING 40.00 X 100503 0 24582 JACKIE SATHER AVP DEVELOPMENT 40.00 X 101581 0 22545 THERESE WELLER SR DIR ESTATE, TRUST, GIFT PLANNING 40.00 X 100555 0 21579 JEAN B SWEENEY CHAIR 3.50 X X 0 0 0 STEVE ROVIG VICE CHAIR 3.60 X X 0 0 0 ROBERT MORRISON SECRETARY/TREASURER 3.30 X X 0 0 0 CORY PULFREY PAST CHAIR 0.50 X X 0 0 0 RON AASHEIM GOVERNOR 1.30 X 0 0 0 NORMAN ASBJORNSON GOVERNOR 0.04 X 0 0 0 MARK BACIGALUPO GOVERNOR 0.04 X 0 0 0 DAVID CAMERON GOVERNOR 0.80 X 0 0 0 DON CAPRE JR GOVERNOR 0.80 X 0 0 0 KAY CHAFEY GOVERNOR 6.30 X 0 0 0 GREG COLLINS GOVERNOR 2.30 X 0 0 0 JILL CUNIFF GOVERNOR 4.30 X 0 0 0 INGRID DEGREEF GOVERNOR 0.50 X 0 0 0 JILL JARRETT GOVERNOR 0.50 X 0 0 0 WES KREMER GOVERNOR 0.50 X 0 0 0 HEIDI MCLOUGHLIN GOVERNOR 1.40 X 0 0 0 HELENE MICHAEL GOVERNOR 0.20 X 0 0 0 ROBERT NAROTZKY GOVERNOR 0.60 X 0 0 0 MARY ANN PEARCE GOVERNOR 4.00 X 0 0 0 BILL SANDERSON GOVERNOR 2.00 X 0 0 0 RUSSEL STANDS OVER BULL GOVERNOR 0.90 X 0 0 0 GINNY SULLIVAN GOVERNOR 0.70 X 0 0 0 KENDRICK R WILSON GOVERNOR 0.50 X 0 0 0 952683 0 183397 6 0 1 0 RUFFALO NOEL LEVITZ 1025 KIRKWOOD PARKWAY SW CEDAR RAPIDS IA 52404 FUNDRAISING CONSULTING 282068 MONTANA STATE UNIVERSITY 1501 SOUTH 11TH AVE BOZEMAN MT 59717 CATERING, MAILING, JANITORIAL AND MAINTE 184527 ALPHAGRAPHICS BOZEMAN 201 E MENDENHALL ST BOZEMAN MT 59715 PRINTING AND MAILING 149410 3 71775 122823 25755005 1142362 25949603 CONTRACT FOR SERVICES 900099 1663071 1663071 SCHOLARSHIP INCOME 900099 1161038 1161038 ALUMNI RELATIONS PROGR 900099 102072 102072 2926181 1992443 -456950 2449393 33025 33025 46569368 46302987 266381 266381 266381 49941 122823 50880 -939 -939 ADMINISTRATIVE FEES 900099 393160 393160 INVESTMENT INCOME- ATI 523000 71177 71177 MISCELLANEOUS INCOME 900099 61824 61824 526161 31692855 2926181 -456950 3274021 15168430 15168430 463334 296756 166578 93193 93193 3386384 346570 1463508 1576306 269678 22167 127436 120075 705754 62020 363736 279998 294383 26844 137567 129972 34663 23986 10677 51310 51310 262613 262613 7077 7077 83650 3629 59887 20134 32400 23405 247 8748 600747 185555 257137 158055 340660 269843 70817 138382 137332 1050 157305 22638 1679 132988 243770 123832 24348 95590 54922 54922 98131 98131 31103 31103 22517889 15985090 3499198 3033601 729302 966409 27243949 14225349 23670078 19835054 10874 16684 4479815 4748367 0 101620 5896101 1265792 2343485 4630309 52435435 35031245 157770022 192916534 -259355 -1168177 561133 437897 268984738 271741291 1289184 1743433 941778 775271 1209266 534459 14886094 15196095 18326322 18249258 X 8365333 8238639 242293083 245253394 250658416 253492033 268984738 271741291 X 9174966 -5732002 -609347 X 0 1 X 1 0 X 79845042 25789980 19971798 34881656 25949603 186438079 79845042 25789980 19971798 34881656 25949603 186438079 57898062 128540017 644902 849230 1377799 1768405 2480418 7120754 261808 136029 492942 294794 -454950 730623 454005 526161 980166 195269622 5753870 0.65830 0.64880 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 1 1 0 0 1 205 0 0 0 1 1352 1557 0 PART II-B, LINE 1: PLANNING FOR THE 2021 LEGISLATIVE SESSION TO SUPPORT HIGHER EDUCATION. OTHER ACTIVITIES INCLUDE EXPENSES RELATED TO RECRUITMENT, TRAINING, AND TRACKING OF VOLUNTEERS; INTERNAL PLANNING MEETINGS; AND RESEARCH AND PREPARATION FOR LEGISLATIVE SESSION. 176623189 7459527 -4035883 5773603 3089417 171183813 149395498 33157018 4907588 7628657 3208258 176623189 138039542 8402190 10738575 4382892 651107 2750810 149395498 116869392 14356321 13385445 4202566 2369050 138039542 113929843 11782324 -2815133 3850593 2177049 116869392 0.00040 0.99880 0.00080 0 0 399550 451750 851300 2041869 868326 1173543 610361 397466 212895 2392571 2392571 4630309 342954 F VANGUARD TOTAL STOCK 17278718 F HARDING LOEVNER INTERNATIONAL 17189017 F OTHER SECURITIES 94680341 F SPLIT INTEREST AGREEMENTS 11456035 F BENEFICIAL INTEREST IN TRUSTS 6631224 F VANGAURD TOTAL BOND 13711832 F OAKMARK INTERNATIONAL INVESTOR 15678642 F PRUDENTIAL TOTAL RETURN BOND 15947771 F 192916534 DEFERRED GIFT OBLIGATIONS 5756381 FUNDS HELD ON BEHALF OF OTHERS 9439714 15196095 X 26764192 -5732002 35785 767554 -4928663 31692855 0 31692855 23258053 35785 704379 740164 22517889 0 22517889 PART V, LINE 4: TO PROVIDE INCOME FOR THE MAINTENANCE OF THE ORGANIZATION AND ITS CHARITABLE PURPOSES. PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3), BY A DETERMINATION LETTER DATED SEPTEMBER 11, 1958, AND HAS BEEN RULED BY THE INTERNAL REVENUE SERVICE NOT TO BE A PRIVATE FOUNDATION. INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO THE FOUNDATION'S TAX-EXEMPT PURPOSE IS SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME, AS WELL AS INCOME SPECIFICALLY CATEGORIZED AS UNRELATED BY LAW. CERTAIN INVESTMENTS IN ALTERNATIVE INVESTMENTS GENERATE UNRELATED BUSINESS INCOME. PART XI, LINE 2D - OTHER ADJUSTMENTS: SUBSIDIARY OPERATIONS 716,674. SPECIAL EVENTS EXPENSES 50,880. PART XII, LINE 2D - OTHER ADJUSTMENTS: SUBSIDIARY OPERATIONS 653,499. SPECIAL EVENTS EXPENSES 50,880. CENTRAL AMERICA AND CARIBBEAN 0 0 INVESTMENTS N/A 39135000 EUROPE 0 0 INVESTMENTS N/A 5793000 EAST ASIA AND PACIFIC 0 0 INVESTMENTS N/A 987000 0 0 0 0 0 0 45915000 0 45915000 1 0 1 1 1 0 PART III ACCOUNTING METHOD: X X X X X X 1 RUFFALO NOEL LEVITZ 1025 KIRKWOOD PARKWAY SW CEDAR RAPIDS IA 52404 FUNDRAISING CONSULTATION FEE 0 269618 262613 7005 269618 262613 7005 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 135080 115158 19922 4000 1197 20607 1000 487 BUSINESS GOLF TOURNAMENT 32155 7665 24490 6027 9640 5371 458 1 5529 5529 2093 172764 122823 49941 12120 10837 25978 1000 945 50880 -939 1 MONTANA STATE UNIVERSITY PO BOX 172720 BOZEMAN MT 59717 363412482 GOV'T 14975762 192668 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 X 0 0 0 0 0 0 0 0 0 CHRISTOPHER MURRAY PRESIDENT & CEO 254046 0 23000 0 6875 0 19958 0 20686 0 324565 0 0 0 MARY JANE MCGARITY VP DEVELOPMENT 122268 0 8750 0 900 0 9487 0 17156 0 158561 0 0 0 KATHLEEN SAYLOR VP OPERATIONS 125634 0 7729 0 900 0 9335 0 12648 0 156246 0 0 0 PART I, LINE 1B SOCIAL CLUB DUES ARE PAID FOR INDIVIDUALS WHO NEED TO ENTERTAIN FOR FUNDRAISING PURPOSES. CHRISTOPHER MURRAY RECEIVED $5,940 OF SOCIAL CLUB DUES. X 89 967380 STOCK MARKET QUOTES X 1 505 PROCEEDS FROM SALE X 10 12939 PROCEEDS FROM SALE X 38 102213 FMV AT DATE OF GIFT X EQUIPMENT 3 50150 FMV X AUCTION ITEM 21 4305 FMV X OTHER 5 3020 FMV 0 0 1 0 PART I, COLUMN (B): THE FOUNDATION DISCLOSES THE NUMBER OF CONTRIBUTORS IN COLUMN B. FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE IS COMPOSED OF THE CHAIR, VICE CHAIR, PAST CHAIR, SECRETARY/TREASURER, THE CHAIRS OF THE BUDGET, INVESTMENT, GOVERNANCE, AND NOMINATING COMMITTEES, AND THE CHAIR OF ALUMNI ENGAGEMENT ADVISORY BOARD. 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 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 EXECUTIVE COMMITTEE, WHICH INCLUDES ALL INDEPENDENT GOVERNORS. THIS PROCESS WAS LAST COMPLETED IN 2020. THE PRESIDENT AND CEO REVIEWS THE PERFORMANCE OF EACH OFFICER & KEY EMPLOYEE OF THE ORGANIZATION. THE PRESIDENT AND CEO REVIEWS THE COMPENSATION OF EACH OFFICER AND 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 OFFICERS AND 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 2020. 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 -609,347. MONTANA STATE UNIVERSITY - BOZEMAN PO BOX 172720 BOZEMAN MT 59717 363412482 PUBLIC UNIVERSITY MT 115 N/A N/A 0 MSU INNOVATION CAMPUS PO BOX 172755 BOZEMAN MT 59717 445507328 REAL ESTATE MT 501(C)(3) LINE 10 MSU FOUNDATION 1 ADVANCED TECHNOLOGY INC PO BOX 172755 BOZEMAN MT 59717 810448958 REAL ESTATE MT MSU FOUNDATION C 71178 1492237 1.00000 1 1 0 0 1 1 1 0 0 0 0 0 1 1 1 0 0 0 0 0 MSU INNOVATION CAMPUS D 272931 AMOUNT PAID ADVANCED TECHNOLOGY INC E 676570 AMOUNT PAID ADVANCED TECHNOLOGY INC F 980000 AMOUNT PAID MONTANA STATE UNIVERSITY L 1710000 AMOUNT RECEIVED MONTANA STATE UNIVERSITY M 116808 AMOUNT PAID