Civic Intelligence

Purdue University Fort Wayne Foundation Inc.

990 • Fiscal year 2022 • EIN 35-6033698

Jul 01, 2021 to Jun 30, 2022 • Filed on May 09, 2023

2101 E Coliseum BlvdFort Wayne, IN 46805-1499

(260) 481-6618

Siviq Scores

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

Liabilities / Assets

26th percentile

0.04x

Higher debt load relative to assets than 26% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

67th percentile

0.46x

Higher debt load relative to revenue than 67% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Net Margin

28th percentile

-1.0%

Higher net margin than 28% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

88th percentile

$419,177

Higher top officer pay than 88% of similar nonprofits.

Top officer pay equals 24.8% of source-year revenue.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Asset Growth

60th percentile

4.1%

Faster asset growth than 60% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

37th percentile

-2.6%

Faster revenue growth than 37% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Assets

Up

$21,085,748

Up $835,633 (+4.1%) from 2021

Net Assets

Up

$20,309,679

Up $591,459 (+3.0%) from 2021

Liabilities

Up

$776,069

Up $244,174 (+46%) from 2021

Revenue

Down

$1,689,766

Down $45,761 (-2.6%) from 2021

Expenses

Down

$1,706,530

Down $350,227 (-17%) from 2021

Net Income

Up

-$16,764

Up $304,466 (+95%) from 2021

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2021: $20,250,115Liabilities 2021: $531,895Net Assets 2021: $19,718,2202021Assets 2022: $21,085,748Liabilities 2022: $776,069Net Assets 2022: $20,309,6792022Assets 2023: $20,394,834Liabilities 2023: $413,715Net Assets 2023: $19,981,1192023Assets 2024: $21,139,484Liabilities 2024: $516,600Net Assets 2024: $20,622,8842024

Highlighted filing

2022

Assets$21,085,748
Liabilities$776,069
Net Assets$20,309,679

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2021: $1,735,527Expenses 2021: $2,056,757Net Income 2021: -$321,2302021Revenue 2022: $1,689,766Expenses 2022: $1,706,530Net Income 2022: -$16,7642022Revenue 2023: $2,391,334Expenses 2023: $2,287,184Net Income 2023: $104,1502023Revenue 2024: $2,786,663Expenses 2024: $2,790,317Net Income 2024: -$3,6542024

Highlighted filing

2022

Revenue$1,689,766
Expenses$1,706,530
Net Income-$16,764
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 9, 2023
Return Version
2021v4.2
Gross Receipts
$1,912,135
Mission and Program Overview

Mission

Provide support for Purdue University Fort Wayne with program development, scholarships and campus development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$12,791,814$12,801,716▲ $9,902
Investments Program Related$11,322,282$10,804,685▼ $517,597
Land, Buildings, and Equipment, Net$6,929,236$6,612,830▼ $316,406
Pd in Cap Srpls Land Bldg Eqp Fund$6,817,874$6,492,974▼ $324,900
Accounts Receivable$1,369,889$1,055,234▼ $314,655
Rtn Earn Endowment Incm Other Fnds$1,324,556$1,014,989▼ $309,567
Investments Other Securities$721,700$966,731▲ $245,031
Cash and Non-Interest-Bearing Accounts$797,948$818,094▲ $20,146
Pledges and Grants Receivable$437,627$175,175▼ $262,452
Prepaid Expenses and Deferred Charges$2,618$3,609▲ $991
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$22,555,385$21,085,748▼ $1,469,637
Other Assets Total$974,085$649,390▼ $324,695
Liabilities
Other Liabilities$1,085,447$769,246▼ $316,201
Accounts Payable and Accrued Expenses$535,694$6,823▼ $528,871
Mortgage Notes Payable Secured by Investment Property$0--
Total Liabilities$1,621,141$776,069▼ $845,072
Net Assets / Fund Balance
Total Net Assets Fund Balance$20,934,244$20,309,679▼ $624,565
Total Liabilities and Net Assets / Fund Balance$22,555,385$21,085,748▼ $1,469,637

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$8,766,981--
Buildings$1,635,216$1,418,111-
Land$4,977,614--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$8,980,351$82,172▼ $295,542-$8,766,981
2020$6,820,161$1,315▲ $2,158,875-$8,980,351
2019$7,300,861$2,296▼ $482,996-$6,820,161
2018$7,241,606$3,152▲ $56,103-$7,300,861
2017$7,103,388$5,102▲ $133,116-$7,241,606
Compensation and Service Providers

Employees

NameTitleOtherTotal
-Secretary$131,825$131,825

Board Members and Trustees

NameTitle
-President
-Vice President
-Director
-Interim Chief Operating Officer/Asst. Treasurer
-Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$861,006
Program Service Revenue
$0
Investment Income
$323,751
Other Revenue
$505,009
Change in Net Assets
$-16,764
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,265,803
Other Expenses$440,727
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,265,803--$1,265,803
Depreciation Depletion$418,731--$418,731
Insurance$17,999--$17,999
Other Expenses$3,997--$3,997
Total Functional Expenses$1,706,530$0$0$1,706,530
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Purdue UniversityWest Lafayette, IN501(c)(3)PFW Departments$564,404
Purdue UniversityWest Lafayette, IN501(c)(3)Library$262,600
Purdue UniversityWest Lafayette, IN501(c)(3)PFW Athletics$253,020
Purdue UniversityWest Lafayette, IN501(c)(3)University Relations$81,498
Purdue UniversityWest Lafayette, IN501(c)(3)Development$36,489
Purdue UniversityWest Lafayette, IN501(c)(3)Schrey Professorship$18,918
Purdue UniversityWest Lafayette, IN501(c)(3)Campus Support$17,999
Purdue UniversityWest Lafayette, IN501(c)(3)Lantz Scholarship$15,547
Purdue UniversityWest Lafayette, IN501(c)(3)Chestnut Scholarship$9,923
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-
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease (Debt) Liabilities$769,246
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
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
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

The Form 990 is reviewed by the Asst. Treasurer.

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

The PFW Foundation implemented the written Conflict of Interest Policy during the 2011-2012 fiscal year. It is mailed to all PFW Foundation board members who can complete and return it at the annual meeting, or if they are unable to attend, they can mail it the PFW Foundation office. The Board of Directors shall be responsible for oversight of all disclosures or failures to disclose, and for taking appropriate action in the case of any conflict of interest transaction.

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

The governing documents and financial statements are available to the public upon request at: 2101 E. Coliseum Blvd. Fort Wayne, IN 46805

Filing and Contact Details

Filer

Filer Name
PFW Foundation
EIN
35-6033698
Phone
2604816618
Address
2101 E Coliseum Blvd, Fort Wayne, IN 46805-1499

Signing Officer

Name
Diana Jackson
Title
Director
Phone
2604816618
Signed
2023-05-09

Organization Details

Formed
1958
Legal Domicile
In
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
14
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 1 Change of accounting method or other type of acounting method

For the reporting period ended June 30, 2022, the PFW Foundation implemented a change in reporting of leases per the GASB issued Statement No. 87. Under this statement, a lessee is required to recognize a lease liability and an intangible right-to-use lease asset, and a lessor is required to recognize a lease receivable and a deferred inflow of resources. A restatement was needed to record the lease items for the reporting period ended June 30, 2021 and lease was recorded for fiscal year 2022.

Financial Statement Notes

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

Endowments support University scholarships, professorships and library acquisitions.

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