Civic Intelligence

Wayne State University Foundation

990 • Fiscal year 2024 • EIN 38-3555142

Oct 01, 2023 to Sep 30, 2024 • Filed on Aug 08, 2025

Organization ProfilePIVOTALMOMENTS.WAYNE.EDU/ABOUT/FOUNDATION
5700 Cass Avenue Aab 4602Detroit, MI 48202

(313) 577-2073

Siviq Scores

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

Liabilities / Assets

2nd percentile

0.00x

Higher debt load relative to assets than 2% of similar nonprofits.

2024 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2024

Liabilities / Revenue

3rd percentile

0.01x

Higher debt load relative to revenue than 3% of similar nonprofits.

2024 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2024

Net Margin

8th percentile

-22%

Higher net margin than 8% of similar nonprofits.

2024 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2024

Top Officer Pay

61st percentile

$1,059,378

Higher top officer pay than 61% of similar nonprofits.

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

2024 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2024

Asset Growth

86th percentile

18%

Faster asset growth than 86% of similar nonprofits.

2024 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Revenue Growth

96th percentile

133%

Faster revenue growth than 96% of similar nonprofits.

2024 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets2nd percentile

Assets

Up

$596,291,272

Up $92,117,097 (+18%) from 2023

Net Assets

Up

$596,140,284

Up $92,190,944 (+18%) from 2023

Liabilities

Down

$150,988

Down $73,847 (-33%) from 2023

Revenue And Expenses
Liabilities / Revenue3rd percentileNet Margin8th percentile

Revenue

Up

$21,711,369

Up $12,375,619 (+133%) from 2023

Expenses

Up

$26,385,001

Up $2,203,914 (+9.1%) from 2023

Net Income

Up

-$4,673,632

Up $10,171,705 (+69%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth86th percentile

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

$600M$400M$200M$0Assets 2011: $230,679,794Liabilities 2011: $0Net Assets 2011: $230,679,7942011Assets 2012: $262,431,740Liabilities 2012: $0Net Assets 2012: $262,431,7402012Assets 2013: $286,351,625Liabilities 2013: $271,543Net Assets 2013: $286,080,0822013Assets 2014: $304,719,123Liabilities 2014: $200,175Net Assets 2014: $304,518,9482014Assets 2015: $290,076,530Liabilities 2015: $204,974Net Assets 2015: $289,871,5562015Assets 2016: $322,290,048Liabilities 2016: $222,777Net Assets 2016: $322,067,2712016Assets 2017: $362,904,890Liabilities 2017: $555,390Net Assets 2017: $362,349,5002017Assets 2018: $391,944,258Liabilities 2018: $289,904Net Assets 2018: $391,654,3542018Assets 2019: $399,810,411Liabilities 2019: $590,741Net Assets 2019: $399,219,6702019Assets 2020: $420,994,306Liabilities 2020: $349,305Net Assets 2020: $420,645,0012020Assets 2021: $515,100,298Liabilities 2021: $968,193Net Assets 2021: $514,132,1052021Assets 2022: $453,355,197Liabilities 2022: $657,567Net Assets 2022: $452,697,6302022Assets 2023: $504,174,175Liabilities 2023: $224,835Net Assets 2023: $503,949,3402023Assets 2024: $596,291,272Liabilities 2024: $150,988Net Assets 2024: $596,140,2842024

Highlighted filing

2024

Assets$596,291,272
Liabilities$150,988
Net Assets$596,140,284
Open 2024 Filing

Operations Trend

Revenue Growth96th percentile

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

$150M$100M$50M$0-$50MRevenue 2011: $5,441,409Expenses 2011: $11,519,420Net Income 2011: -$6,078,0112011Revenue 2012: $42,942,618Expenses 2012: $12,174,369Net Income 2012: $30,768,2492012Revenue 2013: $37,552,696Expenses 2013: $11,819,524Net Income 2013: $25,733,1722013Revenue 2014: $26,909,351Expenses 2014: $10,663,138Net Income 2014: $16,246,2132014Revenue 2015: -$1,629,229Expenses 2015: $11,748,075Net Income 2015: -$13,377,3042015Revenue 2016: $46,320,991Expenses 2016: $11,678,382Net Income 2016: $34,642,6092016Revenue 2017: $41,842,389Expenses 2017: $16,272,443Net Income 2017: $25,569,9462017Revenue 2018: $39,724,639Expenses 2018: $17,606,998Net Income 2018: $22,117,6412018Revenue 2019: $32,838,241Expenses 2019: $17,947,015Net Income 2019: $14,891,2262019Revenue 2020: $23,111,509Expenses 2020: $18,798,342Net Income 2020: $4,313,1672020Revenue 2021: $23,428,469Expenses 2021: $19,297,349Net Income 2021: $4,131,1202021Revenue 2022: $143,332,679Expenses 2022: $23,095,067Net Income 2022: $120,237,6122022Revenue 2023: $9,335,750Expenses 2023: $24,181,087Net Income 2023: -$14,845,3372023Revenue 2024: $21,711,369Expenses 2024: $26,385,001Net Income 2024: -$4,673,6322024

Highlighted filing

2024

Revenue$21,711,369
Expenses$26,385,001
Net Income-$4,673,632
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2023 to Sep 30, 2024
Signed
Aug 8, 2025
Return Version
2023v6.0
Gross Receipts
$177,223,777
Mission and Program Overview

Mission

Wayne state university foundation was established to be a centralized means of encouraging and managing financial support to wayne state university. This support allows wayne state university to provide its students, faculty, and scientists with opportunities for learning and discovery that otherwise would not have been financially possible.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$503,949,340$596,140,284▲ $92,190,944
Investments in Publicly Traded Securities$361,708,444$420,671,131▲ $58,962,687
Investments Other Securities$139,272,780$175,173,023▲ $35,900,243
Cash and Non-Interest-Bearing Accounts$2,858,276$0▼ $2,858,276
Accounts Receivable$334,675$447,118▲ $112,443
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related$0--
Land, Buildings, and Equipment, Net-$0-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Loans From Officers Directors-$0-
Total Assets$504,174,175$596,291,272▲ $92,117,097
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$224,835$150,988▼ $73,847
Other Liabilities$0$0→ $0
Total Liabilities$224,835$150,988▼ $73,847
Net Assets / Fund Balance
Total Net Assets Fund Balance$503,949,340$596,140,284▲ $92,190,944
Total Liabilities and Net Assets / Fund Balance$504,174,175$596,291,272▲ $92,117,097

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$55,663,937--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$503,949,340$14,002,863▲ $104,573,081$4,990,288$596,140,284
2023$452,697,630$18,677,275▲ $56,755,522$4,653,652$503,949,340
2022$514,132,105$28,806,459▼ $67,145,867$4,352,030$452,697,630
2021$420,645,001$13,282,746▲ $99,501,707$1,774,896$514,132,105
2020$399,219,670$11,126,278▲ $29,097,395$1,671,597$420,645,001
Compensation and Service Providers
Top Officer Pay61st percentile

Employees

NameTitleFull / Part TimeOtherTotal
Alana AskewAsst VP TreasuryPT$139,127$139,127
Neco T WalkerSecretaryPT$121,335$121,335

Board Members and Trustees

NameTitle
James A AndersonChair
David RippleDirector/foundation President
Tosha Padgett BrownDirector/president Wsu Alumni Association
Kimberly Andrews EspyDirector/university President
Linda BealeDirector/WSU Law Professor & President of Academic Senate
Susan E BurnsPresident (former)
M Roy Wilson MD MSUniversity President (former)
Angelo VitaleDirector
Bryan C Barnhill IIIDirector
Denise J LewisDirector
Elizabeth GoldsberryDirector
Kolleen T KennedyDirector
Marilyn KellyDirector
Matthew J SimonciniDirector
Quincy AllenDirector
Sean WerdlowDirector
Susan TelangDirector
Terri Lynn LandDirector
Robert ReavesDirector (former)
Bethany GielczykSr VP, CFO & Treasurer
David MassaronSr VP, CFO & Treasurer (part Year)

Highest Paid Contractors

ContractorServicesLocationCompensation
CommonfundInvestment Management Services5 STRATTON STREET, London, Uk$596,597
Revenue and Support

Revenue Composition

Contributions and Grants
$14,002,863
Program Service Revenue
$0
Investment Income
$7,708,506
Other Revenue
$0
Change in Net Assets
$-4,673,632
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$19,912,528
Other Expenses$6,472,473
Total Fundraising Expense$4,990,288
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$19,912,528--$19,912,528
Other Expenses--$4,990,288$4,990,288
Fees for Service Investment Mgmnt Fees-$1,482,185-$1,482,185
Total Functional Expenses$19,912,528$1,482,185$4,990,288$26,385,001
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Wayne State UniversityDetroit, MISection 115Program Support$19,912,528

International Summary

Offices
0
Employees
0
Spending
$61,907,990

International Compliance

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

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanInvestments-00$61,907,990
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-
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
No
Other officer compensation reviewed
No
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, Part VI, Line 7A Members or stockholders electing members of governing body

“Yes, in accordance with wayne state university foundation (foundation) by-laws in effect for this fiscal year, wayne state university's board of governors directly appoints two foundation board of directors ("board") members, and it indirectly appoints five other board members because the foundation's by-laws indicate that certain wayne state university officers would automatically become foundation board members.”

Form 990, Part VI, Line 7B Decisions requiring approval by members or stockholders

“Yes, in accordance with wayne state university foundation (foundation) by-laws in effect for this fiscal year, wayne state university's board of governors approves the foundation's endowment fund annual spending rate.”

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

“The form 990 is prepared by plante & moran pllc. The form 990 is sent to the wayne state university foundation board of directors one week prior to a regularly scheduled board meeting. The treasurer formally presents, reviews, and discuss at the meeting. This process is completed before the return is filed with the irs.”

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

“Members of the governing body and all committee members are required to annually review and update a conflict of interest statement identifying any situation where a possible conflict of interest may exist between the board or committee member, or members of their immediate family, and a particular nonprofit agency. Administration reviews all conflict of interest statements to determine if any actual conflict of interest exists. If a matter is under consideration of the board or committee in which there is a conflict of interest, the board or committee member shall not vote or use their personal influence on the matter.”

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

“Wayne state university foundation governing documents and financial information are made available to the general public upon request.”

Filing and Contact Details

Filer

Filer Name
Wayne State University Foundation
EIN
38-3555142
Phone
3135772073
Address
5700 CASS AVENUE AAB 4602, DETROIT, MI 48202

Signing Officer

Name
Bethany Gielczyk
Title
Sr VP Fin Busn Affairs, CFO, Treas
Signed
2025-08-08
Discuss with paid preparer
Yes

Organization Details

Formed
2000
Legal Domicile
Mi
Voting Board Members
16
Independent Board Members
14
Employees
0
Volunteers
20

Preparer

Firm
Plante & Moran Pllc
Address
3000 TOWN CENTER SUITE 100, SOUTHFIELD, MI 48075
Preparer
Dori J Eggett
Phone
2483522500
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“There has been no change in process from prior year.”

Financial Statement Notes

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

“The organization's endowment funds are used to provide wayne state university students, faculty, and scientists with the opportunities for learning and discovery that otherwise would not have been financially possible.”

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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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IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR/PRESIDENT WSU ALUMNI ASSOCIATION
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$596,291,272
Liabilities
$150,988
Net assets
$596,140,284
Revenue
$21,711,369
Expenses
$26,385,001
Net income
-$4,673,632
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$596$0.15$596$21.7$26.4$4.67
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$504$0.22$504$9.34$24.2$14.8
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$453$0.66$453$143$23.1$120
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$515$0.97$514$23.4$19.3$4.13
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$421$0.35$421$23.1$18.8$4.31
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$400$0.59$399$32.8$17.9$14.9
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$392$0.29$392$39.7$17.6$22.1
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$363$0.56$362$41.8$16.3$25.6
2016Summary only. Only limited summary data is available for this year.$322$0.22$322$46.3$11.7$34.6
2015Summary only. Only limited summary data is available for this year.$290$0.20$290$1.63$11.7$13.4
2014Summary only. Only limited summary data is available for this year.$305$0.20$305$26.9$10.7$16.2
2013Summary only. Only limited summary data is available for this year.$286$0.27$286$37.6$11.8$25.7
2012Summary only. Only limited summary data is available for this year.$262$0.00$262$42.9$12.2$30.8
2011Summary only. Only limited summary data is available for this year.$231$0.00$231$5.44$11.5$6.08