2024-03-30T17:09:31-05:00 2023-06-30 FORVIS LLP 201 N Illinois Street Indianapolis IN 46204 990 2022-07-01 205733080 CARDINAL FUNDS INC % BALL STATE UNIVERSITY FDN CARD 7652858312 2800 W BETHEL AVENUE MUNCIE IN 47304 STEPHEN J WACHTMANN SECRETARY/TREASURER 7652858312 2024-05-15 true STEPHEN J WACHTMANN 999009999 NICOLE B FISHBACK P01279475 3173834000 2024-05-15 3 2022 2023-04-26 12:10:37Z MICHAEL RAY - CHAIR 2800 W BETHEL AVENUE MUNCIE IN 47304 162308 false X N/A X 2008 IN CARDINAL FUNDS INC IS ORGANIZED TO HOLD FUNDS TO SUPPORT BALL STATE UNIVERSITY FOUNDATION AND THEIR MISSIONS. 7 4 0 5 0 0 213779 162308 0 0 -127066 -136502 0 0 86713 25806 94076 137959 0 0 0 0 0 0 0 30322 6791 124398 144750 -37685 -118944 2579849 2460905 0 0 2579849 2460905 X THE MISSION OF CARDINAL FUNDS INC IS TO HOLD BALL STATE UNIVERSITY FOUNDATION SCHOLARSHIP FUNDS FOR CURRENT STUDENTS OR GRADUATES OF THE UNIVERSITY, INDIANA ACADEMY AND BURRIS LABORATORY SCHOOL AS WELL AS FUNDS FOR THE BENEFIT OF OTHER QUALIFIED EXEMPT ORGANIZATIONS THAT SERVE UNIVERSITY STUDENTS, ALUMNI, FACULTY AND STAFF. false false 137979 137959 CARDINAL FUNDS HOLDS FUNDS TO PRIMARILY SUPPORT SCHOLARSHIPS AND THE MISSION OF BALL STATE UNIVERSITY AND BALL STATE UNIVERSITY FOUNDATION. 137979 true true false false false false false false false true false false false true false false false true false false false false false false false false false true false true false false false false false false false false false false false false false true false false false true 1 0 true 0 false false false false false false false false false false false false X 7 4 false true false false true false false true true false false true true true true true true false false false IN X X BALL STATE UNIVERSITY FDN 7652858312 2800 W BETHEL AVENUE MUNCIE IN 47304 JEAN KRAMER CROSBY BOARD MEMBER 2.0 53.0 X 0 255420 30811 DONALD RAY ALLEN BOARD MEMBER 2.0 53.0 X 0 201383 20893 STEPHEN WACHTMANN SECRETARY/TREASURER 2.0 53.0 X X 0 152337 27410 MARLA K TEMPLETON BOARD MEMBER 1.0 2.0 X 0 0 0 PATRICK J ALDERDICE VICE CHAIR 1.0 1.0 X X 0 0 0 DAVID HEETER BOARD MEMBER 1.0 2.0 X 0 0 0 MICHAEL C RAY CHAIR 1.0 1.0 X X 0 0 0 0 609140 79114 0 false true false 0 162308 9914 162308 0 0 0 0 0 0 0 0 136502 -136502 -136502 -136502 0 0 0 0 0 0 0 0 0 0 25806 -136502 137959 137959 0 0 0 0 0 0 0 0 0 0 0 3220 3220 0 0 0 0 0 0 0 0 0 0 0 20 20 0 0 0 2569 2569 OTHER 982 982 144750 137979 6771 0 103267 70121 0 0 7436 5832 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2469146 2384952 2579849 2460905 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 130708 69395 2449141 2391510 2579849 2460905 2579849 2460905 -118944 X false true X true false X 292377 202003 145371 213779 162308 1015838 0 0 292377 202003 145371 213779 162308 1015838 308133 707705 0 0 0 1015838 0.69667 0.69900 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1912982 41902 -82799 54310 1817775 1996894 34997 -78970 39939 1912982 1790834 49499 376012 189370 30081 1996894 2205080 50719 16305 461010 20260 1790834 2063107 158162 46621 62810 2205080 0.00000 0.67500 0.32500 false false DUE FROM BSUF 2384952 2384952 25806 25806 25806 144750 144750 144750 SCHEDULE D, PART V, LINE 4 INTENDED USE OF THE ORGANIZATION'S ENDOWMENT FUNDS: THE ORGANIZATION IS THE BENEFICIARY OF CHARITABLE REMAINDER TRUSTS AND VARIOUS PERPETUAL TRUSTS ADMINISTERED BY OUTSIDE PARTIES. THE ORGANIZATION'S ENDOWMENT CONSISTS OF NUMEROUS INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES, INCLUDING SCHOLARSHIPS AND FINANCIAL AID EXPENSES, FACULTY COMPENSATION AND SUPPORT EXPENSES, ACADEMIC PROGRAM EXPENSES, RESEARCH EXPENSES, PUBLIC SERVICE EXPENSES, ATHLETICS, RECRUITMENT, PUBLIC SERVICE, EXTERNAL RELATIONS, ARTWORK, LIBRARY MATERIALS AND OTHER PROGRAMS MANAGED PER THE DONOR AGREEMENT. THE ORGANIZATION HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS AND OTHER ITEMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT. SCHEDULE D, PART X, LINE 2 ASC 740 DISCLOSURE: MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. true BALL STATE UNIVERSITY 2000 W UNIVERSITY AVENUE MUNCIE IN 47306 356000221 115 137959 SCHOLARSHIP FUNDING 1 SCHEDULE I, PART I, LINE 2 PROCEDURES FOR MONITORING USE OF GRANTS FUNDS IN THE US: CARDINAL FUNDS PROVIDES SUPPORT FOR SCHOLARSHIPS THROUGH TRANSFER OF CASH TO THE DESIGNATED COLLEGE OR UNIVERSITY. THE USE OF THE SUPPORT IS SPECIFIED AT THE TIME OF THE TRANSFER. SCHOLARSHIPS ARE PROVIDED TO VARIOUS COLLEGES AND UNIVERSITIES TO BE APPLIED AS A CREDIT TO THE STUDENT ACCOUNT. false false false false false false false false false JEAN KRAMER CROSBY BOARD MEMBER 0 255420 0 0 0 0 0 26628 0 4183 0 286231 STEPHEN WACHTMANN SECRETARY/TREASURER 0 152337 0 0 0 0 0 16955 0 10455 0 179747 DONALD RAY ALLEN BOARD MEMBER 0 199883 0 1500 0 0 0 10450 0 10443 0 222276 SCHEDULE J, PART I PROCESS TO REVIEW COMPENSATION: CARDINAL FUNDS DOES NOT HAVE EMPLOYEES. PER THE ADMINISTRATIVE AGREEMENT WITH BALL STATE UNIVERSITY FOUNDATION, CARDINAL FUNDS IS PROVIDED EMPLOYEES FROM BALL STATE UNIVERSITY FOUNDATION. FORM 990, PART IV, QUESTION 12 & PART XII, QUESTION 2 THE AUDITED FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES ON A CONSOLIDATED BASIS WITH BALL STATE UNIVERSITY FOUNDATION, CARDINAL PROPERTIES, AND BALL STATE ALUMNI ASSOCIATION, INC. BALL STATE UNIVERSITY FOUNDATION HAS ESTABLISHED A COMMITTEE FOR THE OVERSIGHT OF THE AUDIT. FORM 990, PART VI, QUESTION 1B AS OF 6/30/2023, STEPHEN WACHTMANN, JEAN KRAMER CROSBY, AND DONALD RAY ALLEN ARE PAID EMPLOYEES OF BALL STATE UNIVERSITY FOUNDATION, A RELATED ORGANIZATION AND ARE THEREFORE NON-INDEPENDENT BOARD MEMBERS. FORM 990, PART VI, QUESTION 3 DELEGATE CONTROL OVER MANAGEMENT DUTIES: CARDINAL FUNDS HAS REQUESTED THAT BALL STATE UNIVERSITY FOUNDATION, A RELATED ENTITY, PROVIDE CARDINAL FUNDS WITH CERTAIN ADMINISTRATIVE SERVICES IN ORDER TO KEEP CARDINAL FUNDS' ADMINISTRATIVE COSTS TO A MINIMUM. THE PROVISION OF SUCH SERVICES IN ORDER TO ALLOW CARDINAL FUNDS TO PURSUE ITS CHARITABLE PURPOSES IS IN FURTHERANCE OF THE CHARITABLE PURPOSES OF BALL STATE UNIVERSITY FOUNDATION. ADMINISTRATIVE SERVICES PROVIDED BY BALL STATE UNIVERSITY FOUNDATION INCLUDE FUND MANAGEMENT AND INVESTMENT; FUND ACCOUNTING AND AUDITING; ADMINISTRATIVE SUPPORT; CLERICAL SUPPORT; PAYROLL TAXES AND EMPLOYEE BENEFIT SUPPORT; OFFICE SUPPLIES AND EQUIPMENT USE; AND OFFICE SPACE. FORM 990, PART VI, QUESTION 6 MEMBERS OR STOCKHOLDERS: BALL STATE UNIVERSITY FOUNDATION IS THE SOLE MEMBER. FORM 990, PART VI, LINE 11B PROCESS TO REVIEW THE FORM 990: THE FORM 990 AND RELATED SCHEDULES ARE THOROUGHLY REVIEWED BY THE BOARD OF DIRECTORS AND AN INDEPENDENT ACCOUNTING FIRM PRIOR TO SUBMISSION TO THE IRS. FORM 990, PART VI, LINE 12C PROCESS FOR MONITORING COMPLIANCE WITH CONFLICT OF INT. POLICY: AN ANNUAL QUESTIONNAIRE IS REQUIRED TO BE COMPLETED BY ALL BOARD MEMBERS. THE QUESTIONNAIRE REQUIRES ALL INTERESTED PERSONS TO DISCLOSE PERSONAL CONFLICTS OF INTEREST. UPON DISCLOSURE OF AN INTEREST, THE BOARD DISCUSSES THE POTENTIAL CONFLICT WITHOUT THE INTERESTED PERSON PRESENT TO DETERMINE IF A CONFLICT ACTUALLY EXISTS. THE BOARD THEN DETERMINES THE APPROPRIATE ACTION AFTER ANALYZING THE CONFLICT. FORM 990, PART VI, LINES 15A & 15B PROCESS TO REVIEW COMPENSATION: CARDINAL FUNDS DOES NOT HAVE EMPLOYEES. PER THE ADMINISTRATIVE AGREEMENT WITH BALL STATE UNIVERSITY FOUNDATION, CARDINAL FUNDS IS PROVIDED EMPLOYEES FROM BALL STATE UNIVERSITY FOUNDATION. FORM 990, PART VI, LINE 19 GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC: CARDINAL FUNDS MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. BALL STATE UNIVERSITY FOUNDATION 2800 WEST BETHEL AVENUE MUNCIE IN 47304 356024566 SUPPORT IN 501(C)3 5 NA false CARDINAL PROPERTIES 2800 WEST BETHEL AVENUE MUNCIE IN 47304 201872207 REAL ESTATE IN 501(C)3 12A BS UNIV FDN false BALL STATE UNIVERSITY 2000 W UNIVERSITY MUNCIE IN 47304 356000221 EDUCATION IN 115 NA false BALL STATE UNIVERSITY ALUMNI ASSOCIATION 2800 WEST BETHEL AVENUE MUNCIE IN 47304 270458828 ALUMNI SPT IN 501(C)3 5 NA false false true false false false false false false false false false false false true true false false false false