Civic Intelligence

Wright State University Foundation Inc.

990 • Fiscal year 2020 • EIN 23-7019799

Jul 01, 2019 to Jun 30, 2020 • Filed on May 14, 2021

3640 Colonel Glenn Hwy Suite 100Dayton, OH 45435-0001

(937) 775-2869

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

13th percentile

0.02x

Higher debt load relative to assets than 13% of similar nonprofits.

2020 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2020

Liabilities / Revenue

22nd percentile

0.18x

Higher debt load relative to revenue than 22% of similar nonprofits.

2020 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2020

Net Margin

88th percentile

37%

Higher net margin than 88% of similar nonprofits.

2020 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2020

Top Officer Pay

7th percentile

$148,306

Higher top officer pay than 7% of similar nonprofits.

Top officer pay equals 0.9% of source-year revenue.

2020 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2020

Asset Growth

28th percentile

0.2%

Faster asset growth than 28% of similar nonprofits.

2020 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2019 to 2020

Revenue Growth

90th percentile

43%

Faster revenue growth than 90% of similar nonprofits.

2020 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2019 to 2020

Assets

Up

$137,644,851

Up $259,573 (+0.2%) from 2019

Net Assets

Up

$134,740,640

Up $561,504 (+0.4%) from 2019

Liabilities

Down

$2,904,211

Down $301,931 (-9.4%) from 2019

Revenue

Up

$15,971,511

Up $4,770,242 (+43%) from 2019

Expenses

Down

$10,076,052

Down $917,694 (-8.3%) from 2019

Net Income

Up

$5,895,459

Up $5,687,936 (+2741%) from 2019

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$200M$150M$100M$50M$0Assets 2010: $97,433,960Liabilities 2010: $2,444,691Net Assets 2010: $94,989,2692010Assets 2011: $111,193,152Liabilities 2011: $2,431,861Net Assets 2011: $108,761,2912011Assets 2012: $110,268,606Liabilities 2012: $3,252,698Net Assets 2012: $107,015,9082012Assets 2013: $119,883,799Liabilities 2013: $3,928,836Net Assets 2013: $115,954,9632013Assets 2014: $134,718,436Liabilities 2014: $4,739,044Net Assets 2014: $129,979,3922014Assets 2015: $137,403,057Liabilities 2015: $4,581,238Net Assets 2015: $132,821,8192015Assets 2016: $132,068,223Liabilities 2016: $4,249,541Net Assets 2016: $127,818,6822016Assets 2017: $137,236,585Liabilities 2017: $4,485,810Net Assets 2017: $132,750,7752017Assets 2019: $137,385,278Liabilities 2019: $3,206,142Net Assets 2019: $134,179,1362019Assets 2020: $137,644,851Liabilities 2020: $2,904,211Net Assets 2020: $134,740,6402020Assets 2021: $166,064,682Liabilities 2021: $3,505,349Net Assets 2021: $162,559,3332021Assets 2022: $149,282,142Liabilities 2022: $3,692,483Net Assets 2022: $145,589,6592022Assets 2024: $172,642,347Liabilities 2024: $3,589,849Net Assets 2024: $169,052,4982024

Highlighted filing

2020

Assets$137,644,851
Liabilities$2,904,211
Net Assets$134,740,640

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$30M$20M$10M$0-$10MExpenses 2010: $12,022,0922010Expenses 2011: $7,876,1622011Expenses 2012: $8,098,2732012Expenses 2013: $8,784,8542013Revenue 2014: $14,011,516Expenses 2014: $9,464,650Net Income 2014: $4,546,8662014Revenue 2015: $21,168,601Expenses 2015: $12,104,371Net Income 2015: $9,064,2302015Revenue 2016: $17,729,277Expenses 2016: $12,937,168Net Income 2016: $4,792,1092016Revenue 2017: $8,298,385Expenses 2017: $12,046,198Net Income 2017: -$3,747,8132017Revenue 2019: $11,201,269Expenses 2019: $10,993,746Net Income 2019: $207,5232019Revenue 2020: $15,971,511Expenses 2020: $10,076,052Net Income 2020: $5,895,4592020Revenue 2021: $13,302,016Expenses 2021: $8,096,772Net Income 2021: $5,205,2442021Revenue 2022: $22,301,900Expenses 2022: $9,335,808Net Income 2022: $12,966,0922022Revenue 2024: $13,746,175Expenses 2024: $10,298,905Net Income 2024: $3,447,2702024

Highlighted filing

2020

Revenue$15,971,511
Expenses$10,076,052
Net Income$5,895,459
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 14, 2021
Return Version
2019v5.0
Gross Receipts
$22,033,765
Mission and Program Overview

Mission

To secure, manage, and distribute private support to enhance the growth and development of Wright State University such that it can provide quality educational experiences for students, conduct scholarly research, and service the community.

We are the successors of a group of far-sighted Dayton community leaders who, in 1966, formed a separately incorporated not-for-profit foundation to encourage private donations to Wright State University. Today as then, the WSU Foundation's sole mission is to raise and distribute private support to help the University accomplish its strategic goals. We manage over $130 million in assets so generously provided by our alumni and other community partners. As a qualified charitable organization, the WSU Foundation is exempt from taxes under Section 501(c)(3) of the Internal Revenue Code and annually files a Form 990 with the IRS. Our financial records are subjected to an annual audit by an outside, independent accounting firm. For copies of our latest Form 990s and audited financial statements, as well as other Foundation governing documents, please see our web site at: https://www.wright.edu/giving/documents-and-financial-reports.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$101,764,146$103,677,002▲ $1,912,856
Investments Other Securities$21,839,411$19,519,678▼ $2,319,733
Pledges and Grants Receivable$5,932,900$7,205,300▲ $1,272,400
Cash and Non-Interest-Bearing Accounts$2,156,547$2,170,778▲ $14,231
Land, Buildings, and Equipment, Net$2,165,797$2,045,729▼ $120,068
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0--
Loans From Officers Directors$0$0→ $0
Total Assets$137,385,278$137,644,851▲ $259,573
Other Assets Total$3,526,477$3,026,364▼ $500,113
Liabilities
Escrow Account Liability$2,113,602$2,031,782▼ $81,820
Other Liabilities$947,689$726,514▼ $221,175
Accounts Payable and Accrued Expenses$144,851$145,915▲ $1,064
Total Liabilities$3,206,142$2,904,211▼ $301,931
Net Assets / Fund Balance
Net Assets With Donor Restrictions$124,943,912$126,206,285▲ $1,262,373
Net Assets Without Donor Restrictions$9,235,224$8,534,355▼ $700,869
Total Net Assets Fund Balance$134,179,136$134,740,640▲ $561,504
Total Liabilities and Net Assets / Fund Balance$137,385,278$137,644,851▲ $259,573

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,872,729$771,402$2,644,131
Land$173,000-$173,000
Equipment$0$28,632$28,632
Other Securities$1,324,000--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$93,011,676$3,588,517▼ $263,014$4,691,529$91,645,650
2018$92,312,291$842,478▲ $4,296,732$4,439,825$93,011,676
2017$89,786,367$1,209,141▲ $5,633,411$4,316,628$92,312,291
2016$84,808,864$587,739▲ $9,071,998$4,682,234$89,786,367
2015$92,150,379$1,065,020▼ $1,658,461$6,748,074$84,808,864
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
-CFOFT$136,259$12,047$148,306
-President & CEO as of 9/30/19FT$71,772$6,603$78,375
-Assistant SecretaryFT$61,804$6,092$67,896

Board Members and Trustees

NameTitle
-Chair
-Immediate Past Chair
-Vice Chair
-Trustee
-Trustee (Partial Year)
-Secretary
-Treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
SeiInvestment Manager1 Freedom Valley Drive, Oaks, PA 19456$766,738
Revenue and Support

Revenue Composition

Contributions and Grants
$10,055,494
Program Service Revenue
$0
Investment Income
$5,809,371
Other Revenue
$106,646
All Other Contributions
$10,055,494
Change in Net Assets
$5,895,459

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded13$2,603,010Market value
Total Noncash Contributions13$2,603,010-

Audited Revenue Reconciliation

Revenue per Audited Statements
$15,204,773
Revenue Not Reported on Financial Statements
$766,738
Revenue Not Reported on Form 990
$-5,333,955
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$9,870,818
Total Revenue per Form 990
$15,971,511
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$7,558,441
Other Expenses$1,593,517
Salaries, Compensation, and Employee Benefits$924,094
Total Fundraising Expense$799,055
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$4,618,586--$4,618,586
Grants to Domestic Individuals$2,939,855--$2,939,855
Fees for Service Investment Mgmnt Fees-$766,738-$766,738
Other Salaries and Wages-$129,396$273,241$402,637
Information Technology-$12,034$263,414$275,448
Current Officers, Directors, Trustees, and Key Employees-$275,234$0$275,234
Other Employee Benefits-$128,914$117,309$246,223
Fees for Services Other$0$64,604$72,941$137,545
Depreciation Depletion-$120,070-$120,070
Occupancy-$107,174-$107,174
Travel-$29,669$65,576$95,245
Other Expenses-$41,246$3,642$44,888
Fees for Services Accounting-$20,593-$20,593
Fees for Services Legal-$13,963-$13,963
Office Expenses-$8,921$2,932$11,853
Total Functional Expenses$7,558,441$1,718,556$799,055$10,076,052

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$10,076,052
Expenses per Audited Statements$9,309,314
Total Expenses per Audited Statements$9,309,314
Expenses Not Reported on Financial Statements$766,738
Expenses Not Reported on Form 990$0
Other Expense Adjustments$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Wright State UniversityDayton, OHState UniversityInstitutional support$4,618,586

International Summary

Offices
0
Employees
0
Spending
$10,080,000

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
Yes
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
Yes
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanInvestments-00$10,080,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Wright State University$365,714
Annuities Payable$360,800
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 1A Delegate broad authority to A committee

The Executive Committee is composed of the President & CEO (non-voting), Board Chair, Vice Chair, Treasurer, Secretary, Chairs of each of the standing committees (5) and an at-large Trustee. The Foundation's Code of Regulations authorizes the Executive Committee to exercise all of the authority of the Board of Trustees, but only in the intervals between meetings of the Board.

Form 990, Part VI, Line 2 Family/business relationships amongst interested persons

Andrea Kunk, Michael Bridges - Family relationship

Form 990, Part VI, Line 4 Significant changes to organizational documents

Since inception, the chief administrative officer of the Foundation has been combined with the position of Vice President of University Advancement, who reported to the University President. Beginning July 1, 2019, these roles were split with two different individuals filling them. The Foundation President now reports only to the Foundation Board of Trustees. The Vice President of University Advancement remains a University employee. Changes made to the Code of Regulations in FY20 facilitated the division of these roles and eliminated any reference to the Vice President of University Advancement also serving as the Foundation President.

Form 990, Part VI, Line 11B Review of form 990 by governing body

Prior to filing with the IRS, the Form 990 is reviewed by the Foundation's Audit Committee. The full document is presented to the Committee and staff provides an overview of the information contained in the report. Once the Audit Committee is satisfied that the form is accurately completed, it approves the form for filing. Prior to filing, the final version of the Form 990 is distributed to each member of the Foundation Board.

Form 990, Part VI, Line 12C Conflict of interest policy

Trustees of the Wright State University Foundation (the Foundation) are annually required to sign a conflict of interest policy statement and to disclose any potential conflicts that may exist. These disclosures are reviewed by the Foundation's CFO. This position is responsible for reviewing and approving all operating expenditures authorized by the annual Foundation budget. Such authorizations are made in light of the CFO's knowledge of conflict disclosures. Trustees are expected to abstain from self-dealing and any votes that may be biased by personal conflicts of interest. The annual disclosure procedure helps them identify and avoid such conditions. The Foundation's key employees are also required to complete a conflict of interest disclosure and to avoid involvement in any transactions which might involve a conflict.

Form 990, Part VI, Line 15A Process to establish compensation of top management official

The performance and compensation of the President & CEO of the organization is reviewed and approved by the Executive Committee of the Foundation Board of Trustees. The Board uses comparability data, surveys and other sources to determine compensation. The last compensation review was performed and documented in FY 2020.

Form 990, Part VI, Line 15B Process to establish compensation of other employees

The performance and compensation of the Foundation CFO and Assistant Secretary. Executive Assistant to the President & CEO is reviewed and approved by the Executive Committee of the Foundation Board of Trustees. The Board uses comparability data, surveys and other sources to determine compensation. The last compensation review was performed and documented in FY 2020.

Form 990, Part VI, Line 19 Required documents available to the public

In general, documents maintained by Wright State University Foundation, Inc. (the Foundation) are subject to the State of Ohio's Public Records Law, which generally holds that all requests for documents will be fulfilled. The Foundation's annual financial statements, Form 990s and several governing documents are also published on its website.

Filing and Contact Details

Filer

Filer Name
Wright State University Foundation Inc
EIN
23-7019799
Phone
9377752869
Address
3640 Colonel Glenn Hwy Suite 100, Dayton, OH 45435-0001

Signing Officer

Name
Robert T Batson
Title
CFO
Signed
2021-05-14
Discuss with paid preparer
Yes

Organization Details

Formed
1966
Legal Domicile
Oh
Voting Board Members
26
Independent Board Members
26
Employees
3
Volunteers
40

Preparer

Firm
Crowe Llp
Address
155 West Nationwide Blvd Suite 500, Columbus, OH 43215-2570
Preparer
Kim Scifres
Phone
6144690001
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D Description of other program services

(Expenses $ 353,825 including grants of $ 353,825)(Revenue $ 31,968) ATHLETIC PROGRAMS

Form 990, Part III, Line 4D Description of other program services

(Expenses $ 45,541 including grants of $ 45,541) THE FOUNDATION ENTERTAINS REQUESTS TO ASSIST WITH FUNDING VARIOUS UNIVERSITY PURCHASES AND PROJECTS FOR THE BETTERMENT OF THE ENTIRE CAMPUS COMMUNITY. THE MAJORITY OF EXPENSES IN THE CURRENT FISCAL YEAR WERE MADE IN SUPPORT OF THE UNIVERSITY'S VARIOUS PROMOTION, OUTREACH AND ENROLLMENT EFFORTS.

Form 990, Part V, Line 1C Required Federal Employment Tax Returns and Backup Withholding

Wright State University Foundation, Inc. (WSUF) was incorporated to receive and hold gifts, grants and bequests of money and property for the benefit of Wright State University (WSU) and its students and faculty. WSUF has three employees of its own providing staff support. Although WSUF is a legally separate, tax-exempt entity, it has been determined that it does meet the criteria for discrete presentation within WSU's financial statements. Based on the IRS instructions for Schedule R, WSUF and WSU are not considered related based on the definitions provided. However, to provide transparency and clarity to the reader the Form 990 has been presented as WSUF and WSU being related entities to accurately reflect the on-going operations.

Form 990, Part XI, Line 9 Other changes in net assets or fund balances

Change in value of split interest trusts - -45041; change in cash surrender value of life insurance - -6195;

Financial Statement Notes

Schedule D, Part IV, Line 2B Explanation of escrow agreement

WSU Foundation holds and invests assets on behalf of the Western Ohio Education Foundation (WOEF) and the WSU Alumni Association (WSUAA). WOEF is the educational foundation that benefits the Lake Campus branch of Wright State University, located in Celina, Ohio. WSUAA is an association of former Wright State students that encourages continued interaction with the University. Both entities share proportionately in the investment earnings and losses of the WSU Foundation non-endowed portfolio, including fees charged by professional investment managers. Assets deposited by WOEF and WSUAA with the WSU Foundation may be withdrawn or supplemented at any time with little or no notice required. Assets on deposit at the end of the fiscal year are included in the "investments in securities" line of the WSU Foundation statement of activities. The related liability is listed as "deposits held in custody for others."

Schedule D, Part V, Line 4 Intended uses of endowment funds

Endowment funds have been established with the Foundation to support three major program areas; academic and support programs, student financial aid and research. Specifically, endowments fund program operations, student scholarships and awards, department chair positions, professorships, student support programs and individual research projects.

Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote

The Foundation has been approved under the Internal Revenue Code Section 501(c)(3) as a nonprofit organization exempt from federal taxes on its normal activities. However, the Foundation is subject to federal income tax on any unrelated business taxable income. The Foundation files tax returns in the U.S. federal jurisdiction. GAAP prescribes recognition thresholds and measurement attributes for the consolidated financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. A tax position is recognized as a benefit only if it is "more likely than not" that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the "more likely than not" test, no tax benefit is recorded. Management has concluded that they are unaware of any tax benefits or liabilities to be recognized at June 30, 2020 and 2019, respectively. The Foundation does not have any tax benefits recorded at June 30, 2020, and does not expect that position to significantly change in the next year. The Foundation would recognize interest and/or penalties related to income tax matters in income tax expense, if applicable, and there were no amounts accrued for interest and penalties at June 30, 2020 and 2019.

Schedule D, Part XI, Line 2(D) Other revenues in audited financial statements not in form 990

Change in value of split interest trusts - -45041 Change in cash surrender value of life insurance - -6195

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IRS990/Desc0DONATED RESOURCES FOR VARIOUS ACADEMIC AND SUPPORT FUNCTIONS AT WRIGHT STATE UNIVERSITY ALLOWS ADMINISTRATORS FLEXIBILITY TO DELIVER QUALITY PROGRAMS TO THEIR CONSTITUENCIES. THESE CONTRIBUTIONS SUPPLEMENT THE UNIVERSITY'S BUDGET ALLOCATION AND ALLOW PROGRAM MANAGERS TO OFFER UNIQUE AND CREATIVE LEARNING OPPORTUNITIES FOR STUDENTS. DURING THE CURRENT YEAR, 54% OF EXPENSES IN THIS AREA RELATED TO PARTIAL OR COMPLETE SUPPORT OF PROGRAM PERSONNEL THAT OTHERWISE WOULD NOT HAVE BEEN SUPPORTED BY THE UNIVERSITY'S OPERATING BUDGET. PROCEEDS IN THIS AREA ARE ALSO USED TO CONSTRUCT, RENOVATE AND REHABILITATE UNIVERSITY FACILITIES.
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IRS990/MissionDesc0We are the successors of a group of far-sighted community leaders who, in 1966, formed a separately incorporated not-for-profit foundation to encourage private donations to Wright State University. Today as then, the WSU Foundation's sole mission is to raise, manage and distribute private support to help the University accomplish its strategic goals. Our most recent campaign, "Rise. Shine. The Campaign for Wright State University." successfully raised over $167 million in private support. We manage over $130 million in assets so generously provided by our alumni and other community partners, and annually distribute millions of dollars to the University in support of its students, faculty and programs.
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$173$3.59$169$13.7$10.3$3.45
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$149$3.69$146$22.3$9.34$13.0
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$166$3.51$163$13.3$8.10$5.21
2020Detailed filing. Detailed filing data is available for this year.$138$2.90$135$16.0$10.1$5.90
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$137$3.21$134$11.2$11.0$0.21
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$137$4.49$133$8.30$12.0$3.75
2016Detailed filing. Detailed filing data is available for this year.$132$4.25$128$17.7$12.9$4.79
2015Detailed filing. Detailed filing data is available for this year.$137$4.58$133$21.2$12.1$9.06
2014Detailed filing. Detailed filing data is available for this year.$135$4.74$130$14.0$9.46$4.55
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$120$3.93$116$8.78
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$110$3.25$107$8.10
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$111$2.43$109$7.88
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$97.4$2.44$95.0$12.0
Peer Organizations

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