Civic Intelligence

Michigan State University Foundation

990 • Fiscal year 2014 • EIN 38-2418381

Jul 01, 2013 to Jun 30, 2014 • Filed on Nov 06, 2014

Organization ProfileWWW.MBI.ORG

View Organization Page

3815 Technology BoulevardEast Lansing, MI 48910

(517) 337-3181

Siviq Scores

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

Liabilities / Assets

79th percentile

0.61x

Higher debt load relative to assets than 79% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Liabilities / Revenue

63rd percentile

0.33x

Higher debt load relative to revenue than 63% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Net Margin

65th percentile

8.3%

Higher net margin than 65% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Top Officer Pay

90th percentile

$353,284

Higher top officer pay than 90% of similar nonprofits.

Top officer pay equals 4.9% of source-year revenue.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Asset Growth

40th percentile

0.5%

Faster asset growth than 40% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2013 to 2014

Revenue Growth

46th percentile

2.7%

Faster revenue growth than 46% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets79th percentile

Assets

Up

$3,917,275

Up $18,146 (+0.5%) from 2013

Net Assets

Up

$1,509,614

Up $594,586 (+65%) from 2013

Liabilities

Down

$2,407,661

Down $576,440 (-19%) from 2013

Revenue And Expenses
Liabilities / Revenue63rd percentileNet Margin65th percentile

Revenue

Up

$7,194,346

Up $187,845 (+2.7%) from 2013

Expenses

Up

$6,599,760

Up $194,084 (+3.0%) from 2013

Net Income

Down

$594,586

Down $6,239 (-1.0%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth40th percentile

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

$4.0M$2.0M$0-$2.0MAssets 2011: $2,964,619Liabilities 2011: $3,965,630Net Assets 2011: -$1,001,0112011Assets 2012: $2,995,259Liabilities 2012: $2,681,056Net Assets 2012: $314,2032012Assets 2013: $3,899,129Liabilities 2013: $2,984,101Net Assets 2013: $915,0282013Assets 2014: $3,917,275Liabilities 2014: $2,407,661Net Assets 2014: $1,509,6142014Assets 2015: $3,092,409Liabilities 2015: $1,938,292Net Assets 2015: $1,154,1172015Assets 2016: $1,310,095Liabilities 2016: $323,046Net Assets 2016: $987,0492016Assets 2017: $2,153,908Liabilities 2017: $586,033Net Assets 2017: $1,567,8752017Assets 2018: $1,742,415Liabilities 2018: $574,338Net Assets 2018: $1,168,0772018Assets 2019: $1,224,594Liabilities 2019: $152,601Net Assets 2019: $1,071,9932019Assets 2020: $861,027Liabilities 2020: $3,115Net Assets 2020: $857,9122020Assets 2021: $770,303Liabilities 2021: $953Net Assets 2021: $769,3502021Assets 2022: $718,619Liabilities 2022: $484Net Assets 2022: $718,1352022Assets 2023: $626,700Liabilities 2023: $407Net Assets 2023: $626,2932023Assets 2024: $429,855Liabilities 2024: $41Net Assets 2024: $429,8142024

Highlighted filing

2014

Assets$3,917,275
Liabilities$2,407,661
Net Assets$1,509,614
Open 2014 Filing

Operations Trend

Revenue Growth46th percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2011: $5,163,2652011Expenses 2012: $5,748,2932012Revenue 2013: $7,006,501Expenses 2013: $6,405,676Net Income 2013: $600,8252013Revenue 2014: $7,194,346Expenses 2014: $6,599,760Net Income 2014: $594,5862014Revenue 2015: $6,046,928Expenses 2015: $6,402,425Net Income 2015: -$355,4972015Revenue 2016: $4,316,243Expenses 2016: $4,483,311Net Income 2016: -$167,0682016Revenue 2017: $2,097,239Expenses 2017: $1,516,413Net Income 2017: $580,8262017Revenue 2018: $696,635Expenses 2018: $1,096,433Net Income 2018: -$399,7982018Revenue 2019: $814,106Expenses 2019: $910,190Net Income 2019: -$96,0842019Revenue 2020: $253,225Expenses 2020: $467,306Net Income 2020: -$214,0812020Revenue 2021: $17,281Expenses 2021: $105,843Net Income 2021: -$88,5622021Revenue 2022: $47,911Expenses 2022: $99,126Net Income 2022: -$51,2152022Revenue 2023: $2,936Expenses 2023: $94,778Net Income 2023: -$91,8422023Revenue 2024: -$116,776Expenses 2024: $79,703Net Income 2024: -$196,4792024

Highlighted filing

2014

Revenue$7,194,346
Expenses$6,599,760
Net Income$594,586
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Nov 6, 2014
Return Version
2013v3.1
Gross Receipts
$7,232,354
Mission and Program Overview

Mission

Bridging the gap between early-stage innovation and commercial application partnering to de-risk, develop and scale-up discoveries into commercially-viable technology packages.

Bridging the gap between early-stage innovation and commercial application. Partnering to de-risk, develop and scale-up discoveries into commercially-viable technology packages.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,651,155$1,751,420▲ $100,265
Intangible Assets$1,191,101$1,359,657▲ $168,556
Pledges and Grants Receivable$821,770$627,559▼ $194,211
Cash and Non-Interest-Bearing Accounts$199,255$175,495▼ $23,760
Prepaid Expenses and Deferred Charges$35,848$3,144▼ $32,704
Total Assets$3,899,129$3,917,275▲ $18,146
Liabilities
Other Liabilities$2,046,243$1,630,255▼ $415,988
Accounts Payable and Accrued Expenses$937,858$777,406▼ $160,452
Total Liabilities$2,984,101$2,407,661▼ $576,440
Net Assets / Fund Balance
Unrestricted Net Assets$915,028$1,509,614▲ $594,586
Total Net Assets Fund Balance$915,028$1,509,614▲ $594,586
Total Liabilities and Net Assets / Fund Balance$3,899,129$3,917,275▲ $18,146

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,751,420$2,969,376$4,720,796

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$14,192,540$19,909▲ $2,011,139$593,588$15,630,000
2013$14,782,706$25,751▲ $1,319,207$1,935,124$14,192,540
2012$14,299,125$624,219▲ $278,541$419,179$14,782,706
2011$12,747,669$152,030▲ $1,758,749$359,323$14,299,125
2010$11,977,544$107,580▲ $1,211,298$543,943$12,747,669
Compensation and Service Providers
Top Officer Pay90th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
George BensonDirector-$266,880$126,404$353,284
Venkataraman BringiPres/CEOFT$203,500$43,060$257,182
W Allen JulianCBOFT$167,750$44,079$210,648
David SenykVP Eng.FT$154,750$32,118$198,768
James WynnDirectorFT$126,550$5,391$150,600
Kevin FitzgeraldVP Fin & AdmFT$125,950$11,317$137,267
Susanne KleffProject ManaFT$119,750$11,141$130,891
Robert HancharProject ManaFT$115,405$10,352$125,757
Farzaneh TeymouriProject ManaFT$112,080$10,746$122,826

Board Members and Trustees

NameTitle
Chuck ConawayBoard Chair
Craig BrownDirector
Darrell SteeleDirector
Ian GrayDirector
John MclaneDirector
Ron GoldsberryDirector
Roy ParrottDirector
Joan GaretyTreas/secr
Revenue and Support

Revenue Composition

Contributions and Grants
$4,168,676
Program Service Revenue
$2,571,399
Investment Income
$418,506
Other Revenue
$35,765
All Other Contributions
$40,000
Change in Net Assets
$594,586

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported Amount
Other Non Cash Contri Table1$40,000
Total Noncash Contributions1$40,000

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,815,398
Revenue Not Reported on Financial Statements
$378,948
Revenue Not Reported on Form 990
$233,333
Other Revenue Adjustments
$378,948
Total Revenue per Audited Statements
$7,048,731
Total Revenue per Form 990
$7,194,346
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,182,621
Other Expenses$2,382,318
Total Fundraising Expense$41,594
Professional Fundraising Fees$34,821
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,729,387$488,787$975$2,219,149
Current Officers, Directors, Trustees, and Key Employees$202,324$698,940$2,662$903,926
Other Employee Benefits$449,366$277,142-$726,508
Depreciation Depletion$389,758$20,513-$410,271
Occupancy-$400,000-$400,000
Fees for Services Other$236,356$63,033$40$299,429
Fees for Services Management$176,711$88,940-$265,651
Payroll Taxes$139,202$85,852-$225,054
Fees for Services Legal$75,969$83,409-$159,378
Pension Plan Contributions$66,791$41,064$129$107,984
Office Expenses$67,661$14,105-$81,766
Travel$63,951$13,245$2,701$79,897
Information Technology-$40,952-$40,952
Fees for Services Accounting-$35,405-$35,405
Fees for Services Professional Fundraising--$34,821$34,821
All Other Expenses-$18,470-$18,470
Insurance-$17,633-$17,633
Conferences and Meetings$10,645$2,782-$13,427
Other Expenses$1,022$10,535-$10,535
Royalties-$8,802-$8,802
Advertising-$550$266$816
Total Functional Expenses$4,055,170$2,502,996$41,594$6,599,760

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$6,599,760
Total Expenses per Audited Statements$6,454,145
Expenses per Audited Statements$6,220,812
Expenses Not Reported on Financial Statements$378,948
Other Expense Adjustments$378,948
Expenses Not Reported on Form 990$233,333
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$34,821
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Subsidiary Losses$1,567,287
Deferred Compensation$62,968
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 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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“100% of mbi's stock is held by the msu foundation.”

Form 990, Page 6, Part VI, Line 7A

“Members of the msu foundation's board of directors are also members of mbi's board and therefore msu foundation (stockholder) is involved in the decision making process.”

Form 990, Page 6, Part VI, Line 7B

“Members of the msu foundation's board of directors are also members of mbi's board and therefore msu foundation (stockholder) is involved in the decision making process.”

Form 990, Page 6, Part VI, Line 11B

“The form 990 is prepared by an outside public accounting firm and it is reviewed by management (president/ceo, vp, and finance & administration) and mbi's audit committee.”

Form 990, Page 6, Part VI, Line 12C

“Conflict of interest form is filled out at the beginning of each calendar year and reviewed.”

Form 990, Page 6, Part VI, Line 15A

“The process for determining compensation for the ceo of the organization involves the following: utilizing the compensation committee, independent consultants, compensation surveys, final approval by the board of directors and finalizing the salary package with a written employment agreement. This process was last completed in 2014.”

Form 990, Page 6, Part VI, Line 15B

“The process for determining compensation for the officers or key employees of the organization involves the following: utilizing the compensation committee, independent consultants, compensation surveys, final approval by the board of directors and finalizing the salary package with a written employment agreement. This process was last completed in 2014.”

Form 990, Page 6, Part VI, Line 19

“Governing documents, conflict of interest policy, and financial statements are made available to the public upon request.”

Filing and Contact Details

Filer

EIN
38-2418381
Phone
5173373181

Signing Officer

Name
Kevin Fitzgerald
Title
VP Finance & Administration
Phone
5173373181
Signed
2014-11-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Venkataraman Bringi
Formed
1981
Legal Domicile
Mi
Voting Board Members
9
Independent Board Members
7
Employees
46

Preparer

Preparer
Julie M Pfeifle
Phone
5177060800
Supplemental Narrative

Additional Explanations

Form 990

“All lines left blank are not applicable to the organization.”

Form 990, Part XI, Line 9

“Equity change in invest incl in expense on afs -416,956 loss on asset disposal incl in expense on afs 38,008 equity change in invest incl in expense on afs 416,956 loss on asset disposal incl in expense on afs -38,008”

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

“Mbi does not hold endowments. The endowments are held by msu foundation, which is a related organization illustrated in schedule r. The endowment funds are held on behalf of michigan state university to be paid out on an annual basis according to the endowment agreement.”

Schedule D, Page 4, Part XI, Line 4B

“Equity change in invest incl in expense on afs 416,956 loss on asset disposal incl in expense on afs -38,008”

Schedule D, Page 4, Part XII, Line 4B

“Equity change in invest incl in expense on afs 416,956 loss on asset disposal incl in expense on afs -38,008”

Raw XML AppendixShowing 400 of 805 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleA/Form990ScheduleAPartIVGrp/ExplanationTxt0ROYALTIES 187,755 OTHER INCOME 14,296
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Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,917,275
Liabilities
$2,407,661
Net assets
$1,509,614
Revenue
$7,194,346
Expenses
$6,599,760
Net income
$594,586
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.43$0.00$0.43$0.12$0.08$0.20
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.63$0.00$0.63$0.00$0.09$0.09
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.72$0.00$0.72$0.05$0.10$0.05
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.77$0.00$0.77$0.02$0.11$0.09
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.86$0.00$0.86$0.25$0.47$0.21
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.22$0.15$1.07$0.81$0.91$0.10
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.74$0.57$1.17$0.70$1.10$0.40
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.15$0.59$1.57$2.10$1.52$0.58
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.31$0.32$0.99$4.32$4.48$0.17
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.09$1.94$1.15$6.05$6.40$0.36
2014Detailed filing. Detailed filing data is available for this year.$3.92$2.41$1.51$7.19$6.60$0.59
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.90$2.98$0.92$7.01$6.41$0.60
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.00$2.68$0.31$5.75
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.96$3.97$1.00$5.16