Nonprofit · EIN 20-5733080
CARDINAL FUNDS INC
Tax-exempt · MUNCIE, IN 47304
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $304,264 | $173,718 | $130,546 | $2,940,184 | $0 | $2,940,184 |
| June 30, 2024 | 990 | $476,628 | $127,895 | $348,733 | $2,828,290 | $18,652 | $2,809,638 |
| June 30, 2023 | 990 | $25,806 | $144,750 | -$118,944 | $2,460,905 | $0 | $2,460,905 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $163,774
- Program service revenue
- $0
- Investment income
- $140,490
- Net gain from sales of assets
- $140,490
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $169,142
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Accounting fees
- $3,717
- Program services (functional)
- $169,142
- Management and general (functional)
- $4,576
Balance sheet and other
- Total assets, start of year
- $2,828,290
- Total assets, end of year
- $2,940,184
- Total liabilities, end of year
- $0
- Net assets, end of year
- $2,940,184
- Net assets without donor restrictions
- $196,692
- Net assets with donor restrictions
- $2,743,492
- Gross receipts
- $304,264
- Employees
- 0
- Volunteers
- 4
- Year formed
- 2008
- State of legal domicile
- IN
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| Jean Kramer Crosby | Board Member Trustee or director | 2 | $0 | $307,156 | $33,182 |
| Stephen Wachtmann | Secretary/Treasurer Trustee or director, Officer | 2 | $0 | $189,133 | $32,517 |
| Will Cooper | Board Member Trustee or director | 2 | $0 | $173,417 | $26,995 |
| David Heeter | Vice Chair Trustee or director, Officer | 1 | $0 | $0 | $0 |
| Patrick J Alderdice | Chair Trustee or director, Officer | 1 | $0 | $0 | $0 |
| Jill Lacy | Board Member Trustee or director | 1 | $0 | $0 | $0 |
| Michael C Ray | Board Member Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended June 30, 2024: 8 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| Jean Kramer Crosby | Board Member Trustee or director | 2 | $0 | $270,572 | $32,308 |
| Donald Ray Allen | Board Member (End 3/24) Trustee or director | 2 | $0 | $208,035 | $22,179 |
| Stephen Wachtmann | Secretary/Treasurer Trustee or director, Officer | 2 | $0 | $166,597 | $29,303 |
| Will Cooper | Board Member (Beg 3/24) Trustee or director | 2 | $0 | $93,282 | $16,594 |
| Michael C Ray | Chair Trustee or director, Officer | 1 | $0 | $0 | $0 |
| Patrick J Alderdice | Vice Chair Trustee or director, Officer | 1 | $0 | $0 | $0 |
| David Heeter | Board Member Trustee or director | 1 | $0 | $0 | $0 |
| Marla K Templeton | Board Member Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended June 30, 2023: 7 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| JEAN KRAMER CROSBY | BOARD MEMBER Trustee or director | 2 | $0 | $255,420 | $30,811 |
| DONALD RAY ALLEN | BOARD MEMBER Trustee or director | 2 | $0 | $201,383 | $20,893 |
| STEPHEN WACHTMANN | SECRETARY/TREASURER Trustee or director, Officer | 2 | $0 | $152,337 | $27,410 |
| MARLA K TEMPLETON | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| PATRICK J ALDERDICE | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| DAVID HEETER | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| MICHAEL C RAY | CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 2800 W BETHEL AVE, MUNCIE, IN 47304-2619
- In care of
- % BALL STATE UNIVERSITY FDN
- Principal officer (990 for 2024)
- Michael Ray - Chair, 2800 W Bethel Avenue, Muncie, IN 47304
- Signed the 990
- Michael Ray, Chair
- Phone
- (765) 285-8312
- Return prepared by
- Forvis Mazars LLP
Mission
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.
Program accomplishments
- CARDINAL FUNDS HOLDS FUNDS TO PRIMARILY SUPPORT SCHOLARSHIPS AND THE MISSION OF BALL STATE UNIVERSITY AND BALL STATE UNIVERSITY FOUNDATION.Expenses $169,142 · grants $169,142
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 20-5733080
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2008
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B11)
- Assets (IRS master file)
- $2,940,184
- Income (IRS master file)
- $304,264
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $304,264 | $173,718 | $2,940,184 | IRS |
| 990-T | June 2025 | – | – | – | IRS |
| 990 | June 2024 | $476,628 | $127,895 | $2,828,290 | IRS |
| 990-T | June 2024 | – | – | – | IRS |
| 990 | June 2023 | $25,806 | $144,750 | $2,460,905 | XML |
| 990-T | June 2023 | – | – | – | IRS |
| 990 | June 2022 | $86,713 | $124,398 | $2,579,849 | IRS |
| 990-T | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990-T | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 20-5733080).
Questions about CARDINAL FUNDS INC
- What is the EIN of CARDINAL FUNDS INC?
- The employer identification number (EIN) of CARDINAL FUNDS INC is 20-5733080.
- Is CARDINAL FUNDS INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2008.
- Are donations to CARDINAL FUNDS INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does CARDINAL FUNDS INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of CARDINAL FUNDS INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did CARDINAL FUNDS INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of CARDINAL FUNDS INC?
- The 990 for the year ended June 30, 2025 names Michael Ray - Chair.
- Who are the officers and directors of CARDINAL FUNDS INC?
- The 990 for the year ended June 30, 2025 lists 7 people; 0 received compensation from the organization.
- How much revenue does CARDINAL FUNDS INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $304,264, expenses of $173,718 and total assets of $2,940,184 at year end.
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