Civic Intelligence

Kansas State University Foundation

990 • Fiscal year 2022 • EIN 48-0667209

Jul 01, 2021 to Jun 30, 2022 • Filed on May 15, 2023

1800 Kimball Ave Ste 200Manhattan, KS 66502

(785) 775-2000

Siviq Scores

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

Liabilities / Assets

15th percentile

0.07x

Higher debt load relative to assets than 15% of similar nonprofits.

2022 filings • 501(c)3 • $1B+ nonprofits • Source year 2022

Liabilities / Revenue

27th percentile

0.34x

Higher debt load relative to revenue than 27% of similar nonprofits.

2022 filings • 501(c)3 • $1B+ nonprofits • Source year 2022

Net Margin

91st percentile

51%

Higher net margin than 91% of similar nonprofits.

2022 filings • 501(c)3 • $1B+ nonprofits • Source year 2022

Top Officer Pay

18th percentile

$692,363

Higher top officer pay than 18% of similar nonprofits.

Top officer pay equals 0.3% of source-year revenue.

2022 filings • 501(c)3 • $1B+ nonprofits • Source year 2022

Asset Growth

84th percentile

7.6%

Faster asset growth than 84% of similar nonprofits.

2022 filings • 501(c)3 • $1B+ nonprofits • Annualized from 2021 to 2022

Revenue Growth

90th percentile

31%

Faster revenue growth than 90% of similar nonprofits.

2022 filings • 501(c)3 • $1B+ nonprofits • Annualized from 2021 to 2022

Assets

Up

$1,256,682,544

Up $88,874,951 (+7.6%) from 2021

Net Assets

Up

$1,170,355,078

Up $88,067,696 (+8.1%) from 2021

Liabilities

Up

$86,327,466

Up $807,255 (+0.9%) from 2021

Revenue

Up

$256,518,677

Up $60,114,167 (+31%) from 2021

Expenses

Up

$126,437,816

Up $20,866,317 (+20%) from 2021

Net Income

Up

$130,080,861

Up $39,247,850 (+43%) from 2021

Historical Trend

Balance Sheet Trend

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

$1.5B$1.0B$500M$0Assets 2010: $414,595,522Liabilities 2010: $32,044,044Net Assets 2010: $382,551,4782010Assets 2011: $497,498,045Liabilities 2011: $33,360,601Net Assets 2011: $464,137,4442011Assets 2012: $491,303,240Liabilities 2012: $33,909,159Net Assets 2012: $457,394,0812012Assets 2013: $531,252,591Liabilities 2013: $32,249,999Net Assets 2013: $499,002,5922013Assets 2014: $727,873,914Liabilities 2014: $45,375,673Net Assets 2014: $682,498,2412014Assets 2015: $733,780,723Liabilities 2015: $64,937,370Net Assets 2015: $668,843,3532015Assets 2016: $690,002,074Liabilities 2016: $51,301,576Net Assets 2016: $638,700,4982016Assets 2017: $718,675,159Liabilities 2017: $50,455,221Net Assets 2017: $668,219,9382017Assets 2018: $771,823,779Liabilities 2018: $73,044,621Net Assets 2018: $698,779,1582018Assets 2019: $855,938,673Liabilities 2019: $74,075,836Net Assets 2019: $781,862,8372019Assets 2020: $892,914,031Liabilities 2020: $76,944,733Net Assets 2020: $815,969,2982020Assets 2021: $1,167,807,593Liabilities 2021: $85,520,211Net Assets 2021: $1,082,287,3822021Assets 2022: $1,256,682,544Liabilities 2022: $86,327,466Net Assets 2022: $1,170,355,0782022Assets 2023: $1,336,368,901Liabilities 2023: $112,954,690Net Assets 2023: $1,223,414,2112023Assets 2024: $1,411,803,863Liabilities 2024: $110,907,030Net Assets 2024: $1,300,896,8332024

Highlighted filing

2022

Assets$1,256,682,544
Liabilities$86,327,466
Net Assets$1,170,355,078

Operations Trend

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

$300M$200M$100M$0-$100MExpenses 2010: $61,826,9602010Expenses 2011: $56,413,4902011Expenses 2012: $74,307,8082012Revenue 2013: $131,246,357Expenses 2013: $83,969,499Net Income 2013: $47,276,8582013Revenue 2014: $228,208,713Expenses 2014: $83,628,540Net Income 2014: $144,580,1732014Revenue 2015: $133,809,394Expenses 2015: $117,060,761Net Income 2015: $16,748,6332015Revenue 2016: $98,826,709Expenses 2016: $123,092,798Net Income 2016: -$24,266,0892016Revenue 2017: $112,613,538Expenses 2017: $104,329,766Net Income 2017: $8,283,7722017Revenue 2018: $130,950,585Expenses 2018: $113,813,657Net Income 2018: $17,136,9282018Revenue 2019: $164,560,314Expenses 2019: $112,710,784Net Income 2019: $51,849,5302019Revenue 2020: $132,355,724Expenses 2020: $104,368,228Net Income 2020: $27,987,4962020Revenue 2021: $196,404,510Expenses 2021: $105,571,499Net Income 2021: $90,833,0112021Revenue 2022: $256,518,677Expenses 2022: $126,437,816Net Income 2022: $130,080,8612022Revenue 2023: $185,341,726Expenses 2023: $139,708,363Net Income 2023: $45,633,3632023Revenue 2024: $265,184,453Expenses 2024: $160,469,150Net Income 2024: $104,715,3032024

Highlighted filing

2022

Revenue$256,518,677
Expenses$126,437,816
Net Income$130,080,861
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 15, 2023
Return Version
2021v4.2
Gross Receipts
$380,243,953
Mission and Program Overview

Mission

The mission of the kansas state university foundation is to secure and prudently manage private gifts in support of kansas state university and foster a culture that unites philanthropic desires with university priorities.

Ksu foundation encourages and prudently manages gifts donated for the benefit of ksu and fosters a culture that unites philanthropic desires with university priorities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$488,082,083$560,602,823▲ $72,520,740
Investments in Publicly Traded Securities$474,227,886$382,276,186▼ $91,951,700
Pledges and Grants Receivable$107,997,664$137,660,436▲ $29,662,772
Savings and Temporary Cash Investments$25,695,826$101,533,440▲ $75,837,614
Land, Buildings, and Equipment, Net$52,730,700$55,296,210▲ $2,565,510
Other Notes and Loans Receivable, Net$10,405,389$10,424,021▲ $18,632
Investments Program Related$8,668,045$8,889,428▲ $221,383
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Accounts Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$1,167,807,593$1,256,682,544▲ $88,874,951
Other Assets Total$0$0→ $0
Liabilities
Other Liabilities$43,188,823$41,731,748▼ $1,457,075
Mortgage Notes Payable Secured by Investment Property$19,319,874$19,542,384▲ $222,510
Tax Exempt Bond Liabilities$15,605,000$15,110,000▼ $495,000
Accounts Payable and Accrued Expenses$7,406,514$9,943,334▲ $2,536,820
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Total Liabilities$85,520,211$86,327,466▲ $807,255
Net Assets / Fund Balance
Net Assets With Donor Restrictions$977,349,308$1,084,406,039▲ $107,056,731
Net Assets Without Donor Restrictions$104,938,074$85,949,039▼ $18,989,035
Total Net Assets Fund Balance$1,082,287,382$1,170,355,078▲ $88,067,696
Total Liabilities and Net Assets / Fund Balance$1,167,807,593$1,256,682,544▲ $88,874,951

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$39,117,717$2,196,833$13,195,087
Equipment$1,972,368$2,186,067$4,158,435
Land$14,206,125-$415,996
Other Securities$560,602,823--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$841,404,846$57,205,479▲ $5,537,766$13,439,969$876,993,207
2020$620,299,994$37,258,159▲ $207,183,891$11,117,235$841,404,846
2019$621,009,532$23,323,640▲ $11,587,632$23,079,358$620,299,994
2018$581,746,190$29,381,535▲ $29,644,844$7,617,776$621,009,532
2017$538,649,819$28,937,282▲ $36,304,037$10,485,735$581,746,190
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Greg WillemsPresident/CEOFT$386,056$306,307$692,363
Lois CoxVP for Investments/CIOFT$302,675$358,776$661,451
Greg LohrentzSr VP Operations and FinanceFT$337,564$104,986$442,550
Paul ChaiDirector of InvestmentsFT$164,517$203,138$367,655
Christopher MillsAvp Information Tech and InfraFT$178,185$44,535$222,720
Jill TregoVP Culture and EngagementFT$176,606$45,957$222,563
Sheila WalkerAvp of Collegiate DevelopmentFT$175,868$45,713$221,581
Christopher SpoonerAvp University Wide DevelopmenFT$175,723$28,620$204,343
Deborah TuttleAvp Finance & Acct, ControllerFT$146,242$39,408$185,650
Christy ScottAvp of Compliance ServicesFT$134,418$16,748$151,166

Board Members and Trustees

NameTitle
Mary VanierChair, Bd of Directors
Candy DuncanDirector,bd of Directors
Damon HiningerMember, Bd of Directors
Gabe HernandezMember, Bd of Directors
Jim JohnsonMember, Bd of Directors
Jp BilbreyMember, Bd of Directors
Kelly LechtenbergMember, Bd of Directors
Steve TheedeMember, Bd of Directors
Sue BarsamianMember, Bd of Directors
Leann CaretMember,bd of Directors
Nabeeha Kazi HutchinsMember,bd of Directors
Ray DempseyMember,bd of Directors
Sabrina SchrinerMember,bd of Directors
Tim TaylorSecretary,bd of Directors
Charlene LakeTreasurer, Bd of Directors
David EverittTreasurer, Bd of Directors

Highest Paid Contractors

ContractorServicesLocationCompensation
Mccown Gordon Construction LLCConstruction422 ADMIRAL BLVD, Kansas City, MO 64106$3,593,000
Trinium INCConstruction212 4TH STREET SUITE 110, Manhattan, KS 66502$626,910
Aerosim Technologies INCHardware/software351 CLIFF ROAD E, Burnsville, MN 55057$427,500
Uc Innovation INCHardware/software2855 MICHELLE DR, Irvine, CA 92606$335,014
SalesforceHardware/software415 MISSION STREET, San Francisco, CA 64105$269,067
Revenue and Support

Revenue Composition

Contributions and Grants
$170,830,403
Program Service Revenue
$1,682,989
Investment Income
$63,381,483
Other Revenue
$20,623,802
All Other Contributions
$164,175,514
Change in Net Assets
$130,080,861

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded211$9,987,316Selling Price
Food Inventory3$370,626Cost or Sales
Other Non Cash Contri Table17$291,343Cost or Sales
Other Non Cash Contri Table19$290,969Cost or Sales
Other Non Cash Contri Table43$227,068Appraisal/sales
Cars and Other Vehicles1$97,784Appraisal
Clothing and Household Goods-$93,709Cost or Sales
Other Non Cash Contri Table6$53,682Cost or Sales
Works of Art20$44,410Appraisal
Real Estate Other1$22,600Appraisal
Total Noncash Contributions321$11,479,507-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$78,883,007
Other Expenses$30,986,725
Salaries, Compensation, and Employee Benefits$16,568,084
Total Fundraising Expense$12,678,946
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$60,748,526--$60,748,526
Grants to Domestic Individuals$18,092,636--$18,092,636
Other Salaries and Wages$1,100,673$2,991,664$6,943,816$11,036,153
Fees for Service Investment Mgmnt Fees-$7,510,850-$7,510,850
Fees for Services Other$6,246,633$406,398$630,656$7,283,687
Other Expenses$2,745,533$869,136$94,136$3,708,805
Current Officers, Directors, Trustees, and Key Employees-$1,769,823$280,147$2,049,970
Information Technology$626,747$1,360,450$22,819$2,010,016
Other Employee Benefits$105,671$548,485$1,031,169$1,685,325
Office Expenses$943,292$88,182$324,853$1,356,327
Travel$745,303$34,995$535,851$1,316,149
Advertising$27,316$266,920$917,597$1,211,833
Occupancy$439,371$390,584$228,220$1,058,175
Pension Plan Contributions$98,771$260,569$668,041$1,027,381
Payroll Taxes$70,479$194,375$504,401$769,255
Depreciation Depletion-$380,670$380,670$761,340
Insurance$261,575$105,326$353$367,254
Conferences and Meetings$106,977$58,435$116,210$281,622
Fees for Services Legal$11,319$131,157-$142,476
Fees for Services Accounting-$134,558-$134,558
Interest$94,215$1,193-$95,408
Foreign Grants$41,845--$41,845
Fees for Services Lobbying$21,971--$21,971
Total Functional Expenses$96,091,973$17,666,897$12,678,946$126,437,816
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Kansas State UniversityManhattan, KSGovernmentAdministrative Support$42,284,107
Kansas State UniversityManhattan, KSGovernmentScholarships and Support$16,002,446
K-state AthleticsManhattan, KS501(c)(3)Scholarships and Support$2,425,723
K-state AthleticsManhattan, KS501(c)(3)Administrative Support$20,000
Kansas State University Alumni AssociationManhattan, KS501(c)(3)Support/scholarships$5,250
American Council on Consumer InterestBelleair Bluffs, FL501(c)(3)--
Kansas State University Alumni AssocationManhattan, KS501(c)(3)Administrative Support,departmental Support, Prope-
Manhattan Chamber of CommerceManhattan, KS501(c)(6)Support-

International Summary

Offices
0
Employees
0
Spending
$223,171,777

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
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$154,375,802
Europe (Including Iceland and Greenland)Investments-00$67,175,259
East Asia and the PacificInvestments-00$1,578,871
Europe (Including Iceland and Greenland)Grantmaking-00$22,500
Middle East and North AfricaGrantmaking-00$19,345
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$1,021,359
Fundraising Direct Expenses$861,394
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
catbacker aucti$968,186$292,263$70,571$221,692
Wabash$695,700$104,058$121,546$-17,488
Total Events$2,911,633$970,449$858,488$111,961
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
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
Unitrust/annuity$22,123,435
Assets Held for Others$19,608,313

Bond Issues

BondIssuerIssuedIssue PricePurpose
BKansas Development Finance Authority2019-08-15$8,751,145SEE PART VI
AKansas Development Finance Authority2013-09-12$7,982,005SEE PART VI

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$8,785,616$31,819$100,000$165,395
A$7,982,349$58$1,010,000$140,183

Bond Financing Compliance

No rebate due
Yes
Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Corrective action procedures
Yes
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

Members of the kansas state university foundation include alumni and friends of kansas state university with a demonstrated record of dedication and/or contribution to the well-being and development of kansas state university. These individuals are elected to the board of trustees of the kansas state university foundation by current members of the board of trustees (a maximum of 500 members is provided for in the bylaws). Serving as a member of the board of trustees is more than honorary, it encourages active participation in a variety of activities contributing to the educational and financial success of the university and the foundation. However, members of the board of trustees shall not have any fiduciary duty to the foundation or the other members. The members have the right to elect members of the board of directors. The members are not entitled to receive a share of kansas state university's net assets upon dissolution.

Form 990, Part VI, Section A, Line 7A

The board of trustees elect from its membership, up to 14 persons to serve on the board of directors, which shall be a separate and distinct body from the board of trustees. The chief executive officer of the alumni association board of directors (or designate), makes up the 15th member to the board of directors. The management, control and supervision of the business and affairs of the foundation shall be vested in the board of directors.

Form 990, Part VI, Section A, Line 7B

The bylaws for the foundation may be amended by (i) a two-thirds (2/3) vote of those members present and entitled to vote at any annual or duly called special meeting of the board of trustees, provided the proposed amendments have been submitted to the members at least thirty (30) days prior to such meeting; or (ii) a majority vote of those directors present and entitled to vote at any meeting of the board of directors. Otherwise, no decisions of the board of directors are subject to approval by the board of trustees (members).

Form 990, Part VI, Section B, Line 11B

The irs form 990 is prepared by the compliance services team of the kansas state university foundation. The form 990 is then reviewed by an independent accounting firm. Any questions or concerns that the independent accountant has are addressed and any corrections or clarifications that need to be made are made. The completed draft of the return is then reviewed by the foundation's sr. Vice-president, operations and finance. Once all reviews are completed, the final return is provided to all members of the board of directors prior to filing the return with the irs. The return is filed electronically with the irs.

Form 990, Part VI, Section B, Line 12C

Annually, members of the board of directors, officers of the foundation, members of any foundation committee with board-delegated powers, and key employees must complete the conflict of interest statement. Any potential conflicts that are disclosed on the completed statement are discussed at a board of directors meeting. It is the responsibility of each person who is required to complete the questionnaire to notify the chair of the board of directors as soon as any potential conflict of interest measure, contract, resolution, grant, or other transaction occurs. The following procedures are required for board action when a conflict of interest exists; the interested person may make a presentation at a board meeting, but after must leave the meeting during the vote on the transaction; the board may appoint a disinterested person or committee to investigate alternatives; the board shall determine by a majority vote of disinterested members whether the transaction is in the foundation's best interest; the board will follow all conflicts of interest laws to the extent they apply to the board.

Form 990, Part VI, Section B, Line 15A

Annually, the compensation committee of the kansas state university foundation will follow the rebuttable presumption procedure when determining and approving the compensation of the ceo. Contemporaneous minutes are maintained.

Form 990, Part VI, Section B, Line 15B

Annually, the compensation committee of the kansas state university foundation will follow the rebuttable presumption procedure when determining and approving the compensation of the vp of investments/cio. Contemporaneous minutes are maintained.

Form 990, Part VI, Section C, Line 19

The kansas state university foundation makes its governing documents, conflict of interest policy and financial statements available to the public on its website at www.ksufoundation.org

Filing and Contact Details

Filer

Filer Name
Kansas State University Foundation
EIN
48-0667209
In Care Of
% GREG LOHRENTZ
Phone
7857752000
Address
1800 KIMBALL AVE STE 200, MANHATTAN, KS 66502

Signing Officer

Name
Greg Lohrentz
Title
Sr VP Ops/finance
Phone
7855326266
Signed
2023-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Greg Lohrentz
Formed
1944
Legal Domicile
Ks
Voting Board Members
15
Independent Board Members
15
Employees
234
Volunteers
550

Preparer

Firm
Forvis Llp
Address
1201 Walnut Suite 1700, Kansas City, MO 64106-2246
Preparer
Michael J Engle
Phone
8162216300
Supplemental Narrative

Additional Explanations

fORM 990, PART III, LINE 4D

Kansas state university construction projects, including construction and professional services associated with the construction & improvement of buildings located on the campus of kansas state university.

Form 990, Part XI, line 9

OTHER ADJUSTMENTS $ 7

Financial Statement Notes

Schedule D, Part V, Line 4

The foundation holds permanent endowments in perpetuity, investing the principal and using a portion of the annual investment return to support the purpose designated by the donor.

Schedule D, Part X, Line 2

Management has evaluated their income tax positions under the guidance included in asc 740. Based on their review, management has not identified any material uncertain tax positions to be recorded or disclosed in the financial statements.

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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1,412$111$1,301$265$160$105
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1,336$113$1,223$185$140$45.6
2022Detailed filing. Detailed filing data is available for this year.$1,257$86.3$1,170$257$126$130
2021Detailed filing. Detailed filing data is available for this year.$1,168$85.5$1,082$196$106$90.8
2020Detailed filing. Detailed filing data is available for this year.$893$76.9$816$132$104$28.0
2019Detailed filing. Detailed filing data is available for this year.$856$74.1$782$165$113$51.8
2018Detailed filing. Detailed filing data is available for this year.$772$73.0$699$131$114$17.1
2017Detailed filing. Detailed filing data is available for this year.$719$50.5$668$113$104$8.28
2016Detailed filing. Detailed filing data is available for this year.$690$51.3$639$98.8$123$24.3
2015Detailed filing. Detailed filing data is available for this year.$734$64.9$669$134$117$16.7
2014Detailed filing. Detailed filing data is available for this year.$728$45.4$682$228$83.6$145
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$531$32.2$499$131$84.0$47.3
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$491$33.9$457$74.3
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$497$33.4$464$56.4
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$415$32.0$383$61.8