2024-11-08T10:05:17-06:00 2024-06-30 410746749 CLIFTONLARSONALLEN LLP 8390 EAST CRESCENT PARKWAY SUITE 300 GREENWOOD VILLAGE CO 80111 990 2023-07-01 416033423 MINNESOTA STATE UNIVERSITY MANKATO FOUNDATION INC MINN 5073895595 224 ALUMNI FOUNDATION CENTER MANKATO MN 56001 JIM LUND BOARD CHAIR 5073895595 2024-10-25 1 1 SARAH HINTZ P00492291 3037795710 2024-11-04 2023 2024-10-15 13:58:12Z JIM LUND 224 ALUMNI FOUNDATION CENTER MANKATO MN 56001 32621801 0 X WWW.MNSU.EDU/GIVING/FOUNDATION X 1959 MN TO ENHANCE MINNESOTA STATE UNIVERSITY, MANKATO'S ABILITY TO ACHIEVE ITS MISSION. 25 25 0 37 39349 34514 7600826 12245036 0 0 270289 4037289 9266 33825 7880381 16316150 3282070 4019338 0 0 777689 855876 0 0 417255 2162151 2381820 6221910 7257034 1658471 9059116 86434052 101080500 1157651 900681 85276401 100179819 X MINNESOTA STATE UNIVERSITY, MANKATO FOUNDATION, INC. IS DEDICATED TO SECURING PRIVATE GIFTS AND GRANTS TO BENEFIT MINNESOTA STATE UNIVERSITY, MANKATO. EACH YEAR, THOUSANDS OF GENEROUS BENEFACTORS MAKE GIFTS TO HELP STUDENTS, FACULTY AND PROGRAMS AT THIS UNIVERSITY. THE FOUNDATION'S MISSION IS TO ENHANCE THE UNIVERSITY'S ABILITY TO ACHIEVE ITS MISSION BY ENCOURAGING AND STEWARDING SUSTAINED PHILANTHROPIC SUPPORT FROM ALUMNI AND FRIENDS. THE FOUNDATION OPERATES WITH RESPONSIBLE STEWARDSHIP, INTEGRITY, TRANSPARENCY AND TRUST, PROVIDES LEADERSHIP, ADVOCACY AND SUPPORT OF THE UNIVERSITY'S STRATEGIC PRIORITIES, PROVIDES SUPPORT FOR EDUCATIONAL ACCESS AND FOR ENRICHING EXPERIENCES FOR STUDENTS, AND PROVIDES LEADERSHIP IN PROMOTING AND ENGAGING DONOR PASSION. 0 0 2668476 2668476 0 THE ORGANIZATION PROVIDES STUDENT AID OPPORTUNITIES FOR STUDENTS TO RECEIVE ACADEMIC SCHOLARSHIPS, ATHLETIC TALENT GRANTS, AND OTHER AWARDS AND SCHOLARSHIPS. 1350863 1350863 0 THE ORGANIZATION PROVIDES SUPPORT TO VARIOUS ACADEMIC AND ATHLETIC PROGRAMS, CLUBS, AND CONFERENCES OF THE UNIVERSITY. SUPPORT FOR UNIVERSITY ATHLETIC PROGRAMS - $653,893. SUPPORT FOR FACILITIES FOR VARIOUS ACADEMIC PROGRAMS - $96,200. SUPPORT FOR UNIVERSITY MUSIC PROGRAMS - $10,900. SUPPORT FOR THEATRE & DANCE PROGRAMS - $74,761. SUPPORT OF THE CENTER FOR RURAL BEHAVIORAL HEALTH - $350,000. SUPPORT FOR UNIVERSITY AUXILIARY PROGRAMS - $50,176. SUPPORT FOR EQUIPMENT AND FACILITIES FOR VARIOUS ATHLETICS PROGRAMS - $64,933. SUPPORT FOR THE MAVERICK REC N READ PROGRAM - $50,000. 1591236 0 0 THE ORGANIZATION PROVIDES SUPPORT FOR THE DEVELOPMENT OF STUDENTS AND STAFF THROUGH CONFERENCES, CONVENTIONS, WORKSHOPS, MEETINGS, SPEAKERS, AND OTHER PROFESSIONAL DEVELOPMENT ACTIVITIES. THE ORGANIZATION PROVIDES SUPPORT FOR STAFF AND STUDENT SALARIES, SUPPLIES, EQUIPMENT RENTAL, PRINTING, POSTAGE, AND OTHER EXPENSES USED TO ASSIST DAILY EDUCATIONAL OPERATIONS AND ACTIVITIES. 5610575 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 1 0 0 1 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 12 0 1 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 25 25 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 MN X X SUSAN JAEGER 5073895595 224 ALUMNI FOUNDATION CENTER MANKATO MN 56001 X X HAROLD K STANLEY EXECUTIVE DIR. THRU 06/24 40.00 X 206942 0 45091 ALLAN BOHLKE BOARD CHAIR 2.00 X X 0 0 0 JIM LUND BOARD VICE-CHAIR 0.60 X X 0 0 0 TODD LOOSBROCK TREASURER 0.60 X X 0 0 0 JENNIFER SPAUDE SECRETARY 0.30 X X 0 0 0 JAY ADAMS DIRECTOR 0.30 X 0 0 0 BRETT ANDERSON DIRECTOR 0.30 X 0 0 0 MONA ASKALANI DIRECTOR 0.30 X 0 0 0 MELISSA BRADLEY DIRECTOR 0.30 X 0 0 0 RODNEY BROWN DIRECTOR 0.30 X 0 0 0 CRAIG GOMEZ DIRECTOR 0.30 X 0 0 0 BARBARA HUBBARD DIRECTOR 0.40 X 0 0 0 TIMOTHY HUEBSCH DIRECTOR 0.30 X 0 0 0 LISA HYLAND DIRECTOR 0.30 X 0 0 0 ERIC JOHNSON DIRECTOR 0.30 X 0 0 0 ROD JOHNSON DIRECTOR THRU 05/24 0.50 X 0 0 0 KAMAL KARAM DIRECTOR 0.30 X 0 0 0 BARB KAUS DIRECTOR 0.30 X 0 0 0 TODD KELZENBERG DIRECTOR 0.30 X 0 0 0 CHRISTINE LANTINEN DIRECTOR 0.30 X 0 0 0 KRIS LINDAHL DIRECTOR THRU 05/24 0.30 X 0 0 0 SUSAN MICHALETZ DIRECTOR 0.50 X 0 0 0 DANIEL MUNDAHL DIRECTOR 0.30 X 0 0 0 KAREN OBERLE DIRECTOR 0.30 X 0 0 0 MICHELLE SCHOOFF DIRECTOR 0.30 X 0 0 0 CHAD TISCHER DIRECTOR 0.40 X 0 0 0 RON VETTER DIRECTOR THRU 05/24 0.30 X 0 0 0 KIRSTEN VOSS DIRECTOR 0.30 X 0 0 0 BILL WILTGEN DIRECTOR 0.40 X 0 0 0 206942 0 45091 0 0 0 1 0 12245036 376942 12245036 1413647 39349 1374298 5128 5128 42666 62573 -19907 -19907 -19907 18865814 906 16243078 0 2622736 906 2623642 2623642 MISCELLANEOUS INCOME 900099 48604 48604 48604 16316150 0 39349 4031765 X 3990513 3990513 28825 28825 622514 512703 109811 60227 49603 10624 128205 105590 22615 44930 37004 7926 463 463 45219 45219 595600 595600 240235 183505 56730 3736 3560 176 588021 331085 256936 233481 32381 71578 129522 4285 2953 1332 191161 170387 4570 16204 236898 147316 89582 13656 13656 BAD DEBT EXPENSE 120252 120252 TAXES PAID 40795 40795 OTHER EXPENSES 34952 1066 33761 125 MEMBERSHIPS 33066 14084 18982 7257034 5610575 1229204 417255 261644 479612 505331 2546217 4441017 8667650 43963 37319 1503547 1503547 1503547 78395911 86698252 204519 239261 1078120 908642 86434052 101080500 265780 84305 558413 558413 333458 257963 1157651 900681 X 3475066 3903218 81801335 96276601 85276401 100179819 86434052 101080500 X 9059116 5904383 -60081 X X 0 1 X 1 0 X 6230105 10955812 7895358 7600826 12245036 44927137 1742289 1825553 1945767 5513609 6230105 10955812 9637647 9426379 14190803 50440746 50440746 1446246 247826 779790 898272 1422092 4794226 24515 50100 106298 34514 215427 25383 27182 45578 52151 48604 198898 55649297 9712 0.90640 0.88140 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS INCOME - 2019 AMOUNT: $ 25,383. 2020 AMOUNT: $ 27,182. 2021 AMOUNT: $ 45,578. 2022 AMOUNT: $ 52,151. 2023 AMOUNT: $ 48,604. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 68600003 3056144 9658398 2351657 730000 78232888 62165685 1872134 7532260 2097751 872325 68600003 71964099 2456768 -9513960 1933180 808042 62165685 52881135 4726354 16980853 1914243 710000 71964099 57908049 1597124 165079 1660685 4385421 743011 52881135 0.01480 0.96740 0.01780 0 0 1503547 1503547 1503547 GIFT ANNUITIES PAYABLE 257963 257963 X 23598545 5904383 2020150 -109111 7815422 15783123 595600 -62573 533027 16316150 8695127 2020150 62573 2082723 6612404 595600 49030 644630 7257034 PART V, LINE 4: IN ALL ENDOWED PROGRAMS AND POSITIONS, THE PRINCIPAL CONTRIBUTED TOWARD THE POSITION OR PROGRAM IS INVESTED BY THE MINNESOTA STATE UNIVERSITY, MANKATO FOUNDATION, INC. CONSISTENT WITH THE MINNESOTA UNIFORM PRUDENT MANAGEMENT OF INSTITUTIONAL FUNDS ACT (UPMIFA). THE ENDOWMENT IS INVESTED FOR PURPOSES OF EARNING INCOME (DIVIDENDS, INTEREST, AND REALIZED AND UNREALIZED GAINS). A PORTION OF ANNUAL INCOME IS APPORTIONED BY THE FOUNDATION BOARD OF DIRECTORS AND DETERMINED ANNUALLY BASED ON BOARD POLICIES WHICH SEEK TO PRESERVE THE CAPITAL OF THE ORIGINAL GIFT WHILE MEETING THE WISHES OF DONORS. PART X, LINE 2: MINNESOTA STATE UNIVERSITY, MANKATO FOUNDATION, INC. (THE FOUNDATION) IS ORGANIZED AS A MINNESOTA NONPROFIT CORPORATION AND HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE (IRS) AS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3), QUALIFIES FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER SECTION 170(B)(1)(A)(VI), AND HAS BEEN DETERMINED NOT TO BE A PRIVATE FOUNDATION UNDER SECTION 509(A)(1). MAVERICK PHILANTHROPIC PROPERTIES, LLC AND LIME VALLEY WETLANDS, LLC MAINTAIN EXEMPT STATUS UNDER THE FOUNDATION'S EXEMPTION SINCE THE FOUNDATION IS THE SOLE MEMBER OF BOTH ENTITIES. THE FOUNDATION IS ANNUALLY REQUIRED TO FILE A RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) WITH THE IRS. IN ADDITION, THE FOUNDATION IS SUBJECT TO INCOME TAX ON NET INCOME THAT IS DERIVED FROM BUSINESS ACTIVITIES THAT ARE UNRELATED TO THE EXEMPT PURPOSE. THE FOUNDATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AFFECTING ITS ANNUAL FILING REQUIREMENTS, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE CONSOLIDATED FINANCIAL STATEMENTS. THE FOUNDATION WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS AND LIABILITIES IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN CARRYING VALUE OF THE SPLIT INTEREST AGREEMENT -60,081. TAXES PAID INCLUDED IN REVENUE -40,795. AUDIT FEES NETTED WITH INVESTMENT REVENUE -8,235. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -62,573. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 62,573. PART XII, LINE 4B - OTHER ADJUSTMENTS: TAXES PAID INCLUDED IN REVENUE 40,795. AUDIT FEES NETTED WITH INVESTMENT REVENUE 8,235. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS N/A 2336573 0 0 0 0 0 0 2336573 0 2336573 1 0 1 1 1 0 PART I, LINE 3: EXPENDITURES AND INVESTMENTS IN COLUMN F ARE REPORTED UNDER THE ACCRUAL BASIS OF ACCOUNTING. 1 MINNESOTA STATE UNIVERSITY 236 WIGLEY ADMINISTRATION CENTER MANKATO MN 56001 411687554 STATE OF MN 1602039 0 N/A N/A ASSISTING THE UNIVERSITY WITH PROGRAM RELATED COSTS AND PROMOTING THE UNIVERSITY, INCLUDING ATHLETIC TALENT GRANTS. MINNESOTA STATE UNIVERSITY 236 WIGLEY ADMINISTRATION CENTER MANKATO MN 56001 411687554 STATE OF MN 2388474 0 N/A N/A TO ASSIST THE UNIVERSITY IN AWARDING STUDENT SCHOLARSHIPS 1 0 ENTREPRENEURSHIP & INNOVATION AWARDS 18 26950 0 N/A N/A PSYCHOLOGY DEPT DAN HOULIHAN RESEARCH AWARD 1 300 0 N/A N/A SCIENCE FAIR AWARDS 44 1575 0 N/A N/A PART I, LINE 2: THE FOUNDATION WORKS CLOSELY WITH MINNESOTA STATE UNIVERSITY MANKATO WITH THE PAYMENT OF ALL GRANTS. THE FOUNDATION PROVIDES OVERSIGHT OF THE USE OF THE FUNDS ENSURING THAT ALL EXPENDITURES ARE IN ACCORDANCE WITH THE DONOR'S INTENT. RECIPIENTS OF SCHOLARSHIPS MUST BE ENROLLED IN THE UNIVERSITY AS WELL AS MEET THE CRITERIA SPECIFIED BY THE DONOR AND/OR THE ACADEMIC DEPARTMENT CHOOSING THE SCHOLARSHIP RECIPIENTS. 0 0 0 0 0 0 0 0 0 HAROLD K STANLEY EXECUTIVE DIR. THRU 06/24 206942 0 0 0 0 0 18400 0 26691 0 252033 0 0 0 FORM 990, SCHEDULE J, PART II THE FOUNDATION'S EXECUTIVE DIRECTOR, HAROLD STANLEY, IS COMPENSATED BY AN UNRELATED ORGANIZATION, MINNESOTA STATE UNIVERSITY, MANKATO FOR SERVICES PROVIDED TO THE FILING ORGANIZATION. X 2749 230834 FAIR MARKET VALUE X 25 59683 VALUED BY DONOR X EQUIPMENT 1 40000 VALUED BY DONOR X EVENT SUPPLIES 1010 38636 VALUED BY DONOR X SUPPLIES 24 7789 VALUED BY DONOR 0 0 1 0 PART I, COLUMN (B): THE NUMBER OF ITEMS DONATED WAS USED FOR SECURITIES - PUBLICLY TRADED IN PART I COLUMN B. THE NUMBER OF CONTRIBUTORS WAS USED FOR ALL OTHER LINES IN PART I COLUMN B. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE IS COMPRISED OF THE BOARD CHAIR, VICE CHAIR, SECRETARY, TREASURER, EXECUTIVE DIRECTOR OF THE FOUNDATION, PRESIDENT OF THE UNIVERSITY, AND THE VP OF FINANCE & ADMINISTRATION OF THE UNIVERSITY. DURING THE INTERVALS BETWEEN MEETINGS OF THE BOARD OF DIRECTORS THE EXECUTIVE COMMITTEE SHALL HAVE AND EXERCISE ALL OF THE RIGHTS AND POWERS OF THE BOARD, EXCEPT THAT THE EXECUTIVE COMMITTEE SHALL NOT HAVE THE RIGHT OR POWER TO DO ANY OF THE FOLLOWING: (A) TAKE ANY ACTION WHICH IS MATERIALLY INCONSISTENT WITH AN ESTABLISHED POLICIES OF THE FOUNDATION, (B) TAKE ANY ACTION WHICH ESTABLISHES A NEW POLICY AND, (C) TAKE ANY ACTION WHICH IS WITHHELD FORM THE EXECUTIVE COMMITTEE BY RESOLUTION OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE FEDERAL FORM 990 IS INITIALLY REVIEWED BY THE FOUNDATION DIRECTOR OF FINANCE, THEN THE VP OF UNIVERSITY ADVANCEMENT AND THE CFO OF THE UNIVERSITY. NEXT STEP IS THE AUDIT COMMITTEE FOR THEIR REVIEW AND APPROVAL. IT IS THEN SUBMITTED TO THE FULL BOARD FOR THEIR REVIEW AND FINAL APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C DISCLOSURES OF POSSIBLE CONFLICTS ARE REVIEWED ANNUALLY BY THE AUDIT COMMITTEE. IF FOLLOW-UP IS REQUIRED, THE COMMITTEE ASSIGNS A MEMBER OR STAFF TO HANDLE OR MONITOR AS NECESSARY. DIRECTORS OR OFFICERS WHO HAVE DECLARED OR HAVE BEEN FOUND TO HAVE A CONFLICT OF INTEREST SHALL REFRAIN FROM CONSIDERATION OF PROPOSED TRANSACTIONS, UNLESS FOR SPECIAL REASONS THE BOARD OR ADMINISTRATION REQUESTS INFORMATION OR INTERPRETATION. PERSONS WITH CONFLICTS SHALL NOT VOTE, PARTICIPATE IN DISCUSSION, NOR BE PRESENT AT THE TIME OF THE VOTE. ANY PROPOSED TRANSACTION IN WHICH A CONFLICT OF INTEREST HAS BEEN DECLARED OR FOUND TO EXIST MUST BE APPROVED BY A MAJORITY OF THE DISINTERESTED MEMBERS OF THE BOARD OR THE APPROPRIATE COMMITTEE OF THE BOARD AFTER DISCLOSURE OF THE CONFLICT OF INTEREST. FORM 990, PART VI, SECTION C, LINE 19 THE FINANCIAL STATEMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE. ALL OTHER GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST AND CAN BE E-MAILED OR MAILED. FORM 990, PART VII: THE INDIVIDUALS NOTED AS MANAGERS IN THE ATTACHED FORM 990, PART VII ALSO SERVE ON THE BOARD OF GOVERNORS, THE GOVERNING BODY OF MAVERICK PHILANTHROPIC PROPERTIES, LLC. FORM 990, PART IX: AN UNRELATED ORGANIZATION (MINNESOTA STATE UNIVERSITY) EMPLOYS INDIVIDUALS THAT WORK FOR THE FOUNDATION, SOME OF THESE EXPENSES ARE CHARGED BACK TO THE FOUNDATION. THERE ARE ALSO EMPLOYEES OF THE UNRELATED ORGANIZATION THAT HAVE ALL OR PART OF THEIR SALARIES CHARGED BACK TO THE FOUNDATION UNDER A DONOR RESTRICTED AGREEMENT. THE COMPENSATION IN PART VII, SECTION A, REPRESENTS THE AMOUNTS PAID BY THE UNRELATED ORGANIZATION. FORM 990, PART XI, LINE 9: CHANGE IN CARRYING VALUE OF SPLIT INTEREST AGREEMENTS -60,081. FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSEEING AND SELECTING AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. MAVERICK PHILANTHROPIC PROPERTIES LLC 224 ALUMNI FOUNDATION CENTER MANKATO MN 56001 416033423 CREATED TO HOLD PROPERTY FOR FOUNDATION MN 0 1503547 MINNESOTA STATE UNIVERSITY MANKATO FOUNDATION LIME VALLEY WETLANDS LLC 224 ALUMNI FOUNDATION CENTER MANKATO MN 56001 416033423 CREATED TO HOLD WETLAND PROPERTY FOR FOUNDATION MN 0 0 MINNESOTA STATE UNIVERSITY MANKATO FOUNDATION