Civic Intelligence

Wright State University Foundation Inc.

990 • Fiscal year 2024 • EIN 23-7019799

Jul 01, 2023 to Jun 30, 2024 • Filed on May 14, 2025

3640 Colonel Glenn Hwy 3rd FloorDayton, OH 45435-0001

(937) 775-2251

Siviq Scores

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

Liabilities / Assets

14th percentile

0.02x

Higher debt load relative to assets than 14% of similar nonprofits.

2024 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

35th percentile

0.26x

Higher debt load relative to revenue than 35% of similar nonprofits.

2024 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2024

Net Margin

81st percentile

25%

Higher net margin than 81% of similar nonprofits.

2024 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2024

Top Officer Pay

25th percentile

$304,717

Higher top officer pay than 25% of similar nonprofits.

Top officer pay equals 2.2% of source-year revenue.

2024 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2024

Asset Growth

57th percentile

7.8%

Faster asset growth than 57% of similar nonprofits.

2024 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Revenue Growth

6th percentile

-28%

Faster revenue growth than 6% of similar nonprofits.

2024 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Assets

Up

$172,642,347

Up $23,360,205 (+16%) from 2022

Net Assets

Up

$169,052,498

Up $23,462,839 (+16%) from 2022

Liabilities

Down

$3,589,849

Down $102,634 (-2.8%) from 2022

Revenue

Down

$13,746,175

Down $8,555,725 (-38%) from 2022

Expenses

Up

$10,298,905

Up $963,097 (+10%) from 2022

Net Income

Down

$3,447,270

Down $9,518,822 (-73%) from 2022

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

2024

Assets$172,642,347
Liabilities$3,589,849
Net Assets$169,052,498

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

2024

Revenue$13,746,175
Expenses$10,298,905
Net Income$3,447,270
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 14, 2025
Return Version
2023v6.0
Gross Receipts
$20,478,782
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.

The Wright State University Foundation's mission is to partner with Wright State University in providing funding that assists students from the Dayton region and beyond to obtain an affordable, quality education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$124,899,158$137,697,765▲ $12,798,607
Investments Other Securities$22,422,845$24,062,507▲ $1,639,662
Pledges and Grants Receivable$5,634,200$3,784,800▼ $1,849,400
Cash and Non-Interest-Bearing Accounts$2,286,610$1,877,147▼ $409,463
Land, Buildings, and Equipment, Net$1,691,663$1,607,830▼ $83,833
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$160,143,120$172,642,347▲ $12,499,227
Other Assets Total$3,208,644$3,612,298▲ $403,654
Liabilities
Escrow Account Liability$2,298,714$2,514,830▲ $216,116
Other Liabilities$968,060$779,608▼ $188,452
Accounts Payable and Accrued Expenses$666,893$295,411▼ $371,482
Total Liabilities$3,933,667$3,589,849▼ $343,818
Net Assets / Fund Balance
Net Assets With Donor Restrictions$143,857,304$153,809,620▲ $9,952,316
Net Assets Without Donor Restrictions$12,352,149$15,242,878▲ $2,890,729
Total Net Assets Fund Balance$156,209,453$169,052,498▲ $12,843,045
Total Liabilities and Net Assets / Fund Balance$160,143,120$172,642,347▲ $12,499,227

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,434,830$1,244,367$2,679,197
Land$173,000-$173,000
Equipment$0$28,632$28,632
Other Securities$23,971,293--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$105,178,369$1,497,629▲ $12,296,227$5,795,640$113,176,585
2022$97,727,773$4,327,627▲ $8,472,157$5,349,188$105,178,369
2021$112,148,063$1,263,105▼ $10,280,099$5,403,296$97,727,773
2020$91,645,650$750,791▲ $24,724,119$4,972,497$112,148,063
2019$93,011,676$3,588,517▼ $263,014$4,691,529$91,645,650
Compensation and Service Providers

Employees

NameTitleBaseOtherTotal
R Scott RashPresident & CEO$251,189$53,528$304,717
Robert T BatsonCFO$132,941$27,653$160,594
Andrea WallAssistant Secretary$65,259$7,337$72,596

Board Members and Trustees

NameTitle
Linda Black-KurekChair
David DeptulaImmediate Past Chair
Rob WeisgarberVice Chair
Anupam BediTrustee
Bob ReynoldsTrustee
Brittney WhitesideTrustee
Chris BrookshireTrustee
Danielle RolfesTrustee
Dave DirksenTrustee
David DonaldsonTrustee
Dr Megan DinesTrustee
Dr Michael RobertsonTrustee
Dr Samia BorchersTrustee
Gary McCulloughTrustee
Hernan OlivasTrustee
Holly Di FloraTrustee
Janet HeppardTrustee
Karla Garrett-HarshawTrustee
Loghan YoungTrustee
Martha BalyeatTrustee
Matt WatsonTrustee
Michael DanielsTrustee
Mike ClarkTrustee
Natasha SandellaTrustee
Pamela vonMatthiessenTrustee
Pete JulianTrustee
Randy PhillipsTrustee
Roberta Cornist-BordeneauTrustee
Sharon RabTrustee
Tom SheehanTrustee
Vercie LarkTrustee
Doug FecherTrustee (AS OF 9/18/23)
Keith MeyerTrustee (until 12/31/23)
Marc PorterTrustee (until 4/24/24)
Tom GunlockTrustee (until 9/18/23)
Bill DiedrichSecretary
Kristina KeanTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
SeiInvestment Manager1 Freedom Valley Drive, Oaks, PA 19456$614,374
Revenue and Support

Revenue Composition

Contributions and Grants
$5,172,459
Program Service Revenue
$0
Investment Income
$8,163,457
Other Revenue
$410,259
All Other Contributions
$5,172,459
Change in Net Assets
$3,447,270

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 Traded5$67,971Market value
Total Noncash Contributions5$67,971-

Audited Revenue Reconciliation

Revenue per Audited Statements
$12,893,584
Revenue Not Reported on Financial Statements
$852,591
Revenue Not Reported on Form 990
$9,395,775
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$22,289,359
Total Revenue per Form 990
$13,746,175
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$7,308,784
Other Expenses$1,941,770
Salaries, Compensation, and Employee Benefits$1,048,351
Total Fundraising Expense$551,704
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$3,973,376--$3,973,376
Grants to Domestic Individuals$3,335,408--$3,335,408
Fees for Service Investment Mgmnt Fees-$852,591-$852,591
Current Officers, Directors, Trustees, and Key Employees-$537,965-$537,965
Information Technology-$51,475$358,011$409,486
Other Salaries and Wages-$274,641-$274,641
Other Employee Benefits-$235,745-$235,745
Occupancy-$171,064-$171,064
Fees for Services Other$0$55,870$97,545$153,415
Travel-$26,072$93,247$119,319
Depreciation Depletion-$118,899-$118,899
Other Expenses-$42,359$1,077$43,436
Fees for Services Accounting-$35,272-$35,272
Fees for Services Legal-$24,200-$24,200
Office Expenses-$12,264$1,824$14,088
Total Functional Expenses$7,308,784$2,438,417$551,704$10,298,905

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$10,298,905
Expenses per Audited Statements$9,446,314
Total Expenses per Audited Statements$9,446,314
Expenses Not Reported on Financial Statements$852,591
Expenses Not Reported on Form 990$0
Other Expense Adjustments$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Wright State UniversityDayton, OHState UniversityInstitutional Support$3,973,376

International Summary

Offices
0
Employees
0
Spending
$19,144,000

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$19,144,000
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$467,808
Annuities Payable$311,800
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
No
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 11B Review of form 990 by governing body

Prior to filing with the IRS, the Form 990 is reviewed by the Foundation's Audit and Finance Committee. The full document is presented to the Committee and staff provides an overview of the information contained in the report. Once the Audit and Finance 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 FY2024.

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

The executive committee reviews and approves the performance and compensation of all other officers/key employees. Comparibility data, surveys and other sources are used to detremine compensation. The last compensation review was performed and documentated in fy2024.

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
9377752251
Address
3640 Colonel Glenn Hwy 3rd Floor, Dayton, OH 45435-0001

Signing Officer

Name
Bobby Jones
Title
CFO
Phone
9377752869
Signed
2025-05-14
Discuss with paid preparer
Yes

Organization Details

Formed
1966
Legal Domicile
Oh
Voting Board Members
34
Independent Board Members
34
Employees
9
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 $ 146,125 including grants of $ 146,125) RESEARCH: SCHOLARLY RESEARCH IS A CORE PART OF WRIGHT STATE UNIVERSITY'S MISSION. THE FOUNDATION SEEKS TO ENHANCE FUNDING FOR THESE ACTIVITIES BY RAISING PRIVATE SUPPORT THAT PROVIDES PERSONNEL AND OPERATING COST COVERAGE FOR VARIOUS PROJECTS. MANY, ALTHOUGH NOT ALL, OF THE UNIVERSITY-SUPPORTED RESEARCH PROGRAMS ARE IN THE FIELD OF MEDICINE. THE AMOUNT OF RESEARCH SUPPORT PROVIDED BY THE FOUNDATION WAS $146,125.

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

(Expenses $ 89,730 including grants of $ 89,730)(Revenue $ 258,300) OTHER/VARIOUS: 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 RECRUITING, RETAINING AND RELATIONSHIP GOALS.

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 eight 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 - 208017; change in cash surrender value of life insurance - -3539;

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 and Raider Food Pantry have been approved under the Internal Revenue Code Section 501(c)(3) as nonprofit organizations exempt from federal taxes on their normal activities. However, the Foundation and Raider Food Pantry are subject to federal income tax on any unrelated business taxable income. The Foundation and Raider Food Pantry file tax returns in the U.S. federal jurisdiction. WSUF Emergence Center No. 1, LLC is a disregarded entity for tax purposes. 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, 2024 and 2023, respectively. The Foundation and Raider Food Pantry do not have any tax benefits recorded at June 30, 2024 and do not expect that position to significantly change in the next year. The Foundation and Raider Food Pantry 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, 2024 and 2023.

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

Change in cash surrender value of life insurance - -3539 change in value of split interest trusts - 208017

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IRS990/Desc0SCHOLARSHIPS: STUDENTS AT WRIGHT STATE UNIVERSITY RECEIVE A QUALITY EDUCATION THAT IS PAID PARTLY BY TUITION AND PARTLY BY STATE SUBSIDY. THE LATTER REVENUE SOURCE HAS DECLINED IN RECENT YEARS THEREBY MAKING IT MORE DIFFICULT TO FINANCE A COLLEGE EDUCATION. ALTHOUGH WRIGHT STATE REMAINS ONE OF THE MOST AFFORDABLE PUBLIC INSTITUTIONS IN OHIO, THE FOUNDATION SEEKS TO OFFSET THE LOSS OF STATE TUITION SUBSIDIES BY RAISING PRIVATE CONTRIBUTIONS IN SUPPORT OF STUDENT TUITION PAYMENTS. DISTRIBUTIONS OF STUDENT FINANCIAL AID TOTALED $3,335,408 DURING THE YEAR.
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$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
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$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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