Civic Intelligence

Arkansas State University Red Wolves Foundation Inc.

990 • Fiscal year 2023 • EIN 71-0526367

Jul 01, 2022 to Jun 30, 2023 • Filed on Nov 03, 2023

Organization ProfileWWW.REDWOLVESFOUNDATION.COM
PO Box 2219State University, AR 72467

(870) 972-2401

Siviq Scores

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

Liabilities / Assets

90th percentile

0.88x

Higher debt load relative to assets than 90% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Liabilities / Revenue

95th percentile

6.67x

Higher debt load relative to revenue than 95% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Net Margin

6th percentile

-53%

Higher net margin than 6% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Top Officer Pay

9th percentile

$0

Higher top officer pay than 9% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Asset Growth

21st percentile

-1.9%

Faster asset growth than 21% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Revenue Growth

35th percentile

-1.8%

Faster revenue growth than 35% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets90th percentile

Assets

Down

$48,087,573

Down $951,759 (-1.9%) from 2022

Net Assets

Down

$5,550,848

Down $3,248,333 (-37%) from 2022

Liabilities

Up

$42,536,725

Up $2,296,574 (+5.7%) from 2022

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin6th percentile

Revenue

Down

$6,373,064

Down $115,742 (-1.8%) from 2022

Expenses

Up

$9,759,123

Up $40,331 (+0.4%) from 2022

Net Income

Down

-$3,386,059

Down $156,073 (-4.8%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth21st percentile

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

$80M$60M$40M$20M$0Assets 2012: $3,411,434Liabilities 2012: $79,143Net Assets 2012: $3,332,2912012Assets 2013: $3,617,870Liabilities 2013: $36,055Net Assets 2013: $3,581,8152013Assets 2014: $9,746,851Liabilities 2014: $3,638,464Net Assets 2014: $6,108,3872014Assets 2015: $25,215,795Liabilities 2015: $19,632,371Net Assets 2015: $5,583,4242015Assets 2016: $44,647,418Liabilities 2016: $39,736,454Net Assets 2016: $4,910,9642016Assets 2017: $42,764,237Liabilities 2017: $32,040,881Net Assets 2017: $10,723,3562017Assets 2018: $55,382,726Liabilities 2018: $46,691,383Net Assets 2018: $8,691,3432018Assets 2019: $63,405,312Liabilities 2019: $53,625,120Net Assets 2019: $9,780,1922019Assets 2020: $64,567,663Liabilities 2020: $54,560,010Net Assets 2020: $10,007,6532020Assets 2021: $56,883,433Liabilities 2021: $44,410,116Net Assets 2021: $12,473,3172021Assets 2022: $49,039,332Liabilities 2022: $40,240,151Net Assets 2022: $8,799,1812022Assets 2023: $48,087,573Liabilities 2023: $42,536,725Net Assets 2023: $5,550,8482023Assets 2024: $44,610,264Liabilities 2024: $40,043,098Net Assets 2024: $4,567,1662024Assets 2025: $41,002,714Liabilities 2025: $35,275,324Net Assets 2025: $5,727,3902025

Highlighted filing

2023

Assets$48,087,573
Liabilities$42,536,725
Net Assets$5,550,848
Open 2023 Filing

Operations Trend

Revenue Growth35th percentile

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

$15M$10M$5.0M$0-$5.0MRevenue 2012: $2,657,240Expenses 2012: $1,748,504Net Income 2012: $908,7362012Revenue 2013: $3,288,308Expenses 2013: $3,038,784Net Income 2013: $249,5242013Revenue 2014: $5,543,925Expenses 2014: $3,017,353Net Income 2014: $2,526,5722014Revenue 2015: $6,071,620Expenses 2015: $6,596,583Net Income 2015: -$524,9632015Revenue 2016: $7,500,866Expenses 2016: $8,173,326Net Income 2016: -$672,4602016Revenue 2017: $12,795,980Expenses 2017: $6,983,588Net Income 2017: $5,812,3922017Revenue 2018: $7,393,771Expenses 2018: $8,371,275Net Income 2018: -$977,5042018Revenue 2019: $9,015,385Expenses 2019: $7,926,536Net Income 2019: $1,088,8492019Revenue 2020: $8,137,847Expenses 2020: $8,547,800Net Income 2020: -$409,9532020Revenue 2021: $7,737,061Expenses 2021: $9,290,842Net Income 2021: -$1,553,7812021Revenue 2022: $6,488,806Expenses 2022: $9,718,792Net Income 2022: -$3,229,9862022Revenue 2023: $6,373,064Expenses 2023: $9,759,123Net Income 2023: -$3,386,0592023Revenue 2024: $8,307,278Expenses 2024: $9,375,281Net Income 2024: -$1,068,0032024Revenue 2025: $10,420,593Expenses 2025: $9,324,348Net Income 2025: $1,096,2452025

Highlighted filing

2023

Revenue$6,373,064
Expenses$9,759,123
Net Income-$3,386,059
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Nov 3, 2023
Return Version
2022v5.0
Gross Receipts
$16,695,362
Mission and Program Overview

Mission

Support Arkansas State University Intercollegiate Athletic program

Arkansas state university red wolves foundation, inc. Is dedicated to aid, assist and promote the development of intercollegiate athletics at arkansas state university and to work with asu's administration in serving the institution.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$5,661,449$19,436,495▲ $13,775,046
Land, Buildings, and Equipment, Net$28,875,434$17,676,314▼ $11,199,120
Investments Program Related$1,906,722$4,257,884▲ $2,351,162
Cash and Non-Interest-Bearing Accounts$7,235,499$3,224,175▼ $4,011,324
Prepaid Expenses and Deferred Charges$4,391,667$2,691,667▼ $1,700,000
Pledges and Grants Receivable$605,357$487,003▼ $118,354
Total Assets$49,039,332$48,087,573▼ $951,759
Other Assets Total$363,204$314,035▼ $49,169
Liabilities
Deferred Revenue$8,273,876$21,831,695▲ $13,557,819
Mortgage Notes Payable Secured by Investment Property$30,307,804$18,957,067▼ $11,350,737
Accounts Payable and Accrued Expenses$1,658,471$1,747,963▲ $89,492
Total Liabilities$40,240,151$42,536,725▲ $2,296,574
Net Assets / Fund Balance
Net Assets With Donor Restrictions$11,737,537$5,883,724▼ $5,853,813
Net Assets Without Donor Restrictions$-2,938,356$-332,876▲ $2,605,480
Total Net Assets Fund Balance$8,799,181$5,550,848▼ $3,248,333
Total Liabilities and Net Assets / Fund Balance$49,039,332$48,087,573▼ $951,759

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$17,310,879$1,419,535$18,730,414
Equipment$365,435$358,020$723,455
Investment Program Related Org$1,968,295--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$1,906,455$2,500▲ $119,649-$1,968,295
2021$2,204,295$2,000▼ $277,210-$1,906,455
2020$1,809,193$3,000▲ $468,430-$2,204,295
2019$1,824,239-▲ $58,292-$1,809,193
2018$1,799,734-▲ $95,486-$1,824,238
Compensation and Service Providers
Top Officer Pay9th percentile

Board Members and Trustees

NameTitle
Nathan LaruePast President
David HundleyPresident
Lisa GoldenVice President
Adam StaplesBoard Member
Andre ColemanBoard Member
Bill StanleyBoard Member
Eddie IshmaelBoard Member
Jeffrey HigginsBoard Member
Kelly CauseyBoard Member
Lance RamthunBoard Member
Mary Nell MastersonBoard Member
Paul RowtonBoard Member
Randall PopeBoard Member
Ted HergetBoard Member
Shawna BarberDirector
Chris WoodardSecretary
Jay AllenTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Cbj Enterprises Of Jonesboro LLCProfessional Services3880 RIDGEWOOD COVE, Jonesboro, AR 72404$626,507
Balado Enterprises LLCProfessional Services2317 SEA ISLAND DRIVE, Jonesboro, AR 72404$202,691
-Professional Services3620 RIVIERA DRIVE, Jonesboro, AR 72404$111,251
-Professional Services1563 CELEBRATION CIRCLE, Bridgeville, PA 15017$102,004
Revenue and Support

Revenue Composition

Contributions and Grants
$4,638,166
Program Service Revenue
$0
Investment Income
$-1,033,292
Other Revenue
$2,768,190
All Other Contributions
$4,638,166
Change in Net Assets
$-3,386,059

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,373,064
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$137,726
Total Revenue per Audited Statements
$6,510,790
Total Revenue per Form 990
$6,373,064
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$9,582,229
Salaries, Compensation, and Employee Benefits$176,894
Total Fundraising Expense$55,483
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Payments to Affiliates$2,030,479--$2,030,479
Interest$1,548,725--$1,548,725
Depreciation Depletion$872,620$74-$872,694
All Other Expenses$172,352$73,233$24,336$269,921
Travel$232,315$8,096-$240,411
Other Employee Benefits$3,600$173,294-$176,894
Other Expenses$159,570$55,809$14,848$159,570
Fees for Services Management$83,036$50,250-$133,286
Advertising-$31,678$16,299$47,977
Insurance$25,377$4,729-$30,106
Conferences and Meetings$492--$492
Total Functional Expenses$9,212,201$491,439$55,483$9,759,123

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$9,759,123
Total Expenses per Audited Statements$9,759,123
Total Expenses per Form 990$9,759,123
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
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
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, Section A, Line 6

“Membership is open to all persons interested and committed to the purposes of the organization in accordance with the by-laws of the organization.”

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

“Any member in good standing who has been duly nominated and meets all the qualifications may be elected as a director.”

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

“All members in good standing shall be eligible to vote at the meetings and to otherwise enjoy the rights and privileges of membership.”

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

“A complete copy of form 990 is presented for the approval of the board of directors during the regularly scheduled board meeting.”

Form 990, Part VI, Section C, Line 19

“The organization's policy documents and financial statements are available by request.”

Filing and Contact Details

Filer

Filer Name
Arkansas State University Red Wolves
EIN
71-0526367
Phone
8709722401
Address
PO BOX 2219, STATE UNIVERSITY, AR 72467

Signing Officer

Name
Shawna Barber
Title
Director
Phone
8709722401
Signed
2023-11-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Shawna Barber
Formed
1979
Legal Domicile
Ar
Voting Board Members
16
Independent Board Members
16
Employees
0
Volunteers
25

Preparer

Firm
Hcj Cpas & Advisors Pllc
Address
PO BOX 16307, JONESBORO, AR 72403
Preparer
Jeremy Watson CPA
Phone
8709352871
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“The board of directors continues to oversee and respond to the audit results. Any change in the independent auditors is approved by the board of directors.”

Financial Statement Notes

PART V, LINE 4:

“The arkansas state university red wolves foundation, inc.'s endowment fund was created to award scholarships to arkansas state university athletes.”

Raw XML AppendixShowing 400 of 567 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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IRS990/Form990PartVIISectionAGrp/PersonNm15ADAM STAPLES
IRS990/Form990PartVIISectionAGrp/PersonNm16PAUL ROWTON
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt110
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt150
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt160
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IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4PAST PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt15BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt16BOARD MEMBER
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IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
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IRS990/GrossReceiptsAmt016695362
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IRS990/InsuranceGrp/ProgramServicesAmt025377
IRS990/InsuranceGrp/TotalAmt030106
IRS990/InterestGrp/ProgramServicesAmt01548725
IRS990/InterestGrp/TotalAmt01548725
IRS990/InvestmentIncomeGrp/ExclusionAmt0189006
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0189006
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IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0ARKANSAS STATE UNIVERSITY RED WOLVES FOUNDATION, INC. IS DEDICATED TO AID, ASSIST AND PROMOTE THE DEVELOPMENT OF INTERCOLLEGIATE ATHLETICS AT ARKANSAS STATE UNIVERSITY AND TO WORK WITH ASU'S ADMINISTRATION IN SERVING THE INSTITUTION.
IRS990/MoreThan5000KToIndividualsInd00
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IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
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IRS990/OtherChangesInNetAssetsAmt00
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IRS990/OtherEmployeeBenefitsGrp/TotalAmt0176894
IRS990/OtherExpensesGrp/Desc0CONTRACT SERVICES
IRS990/OtherExpensesGrp/Desc1RENT
IRS990/OtherExpensesGrp/Desc2MEALS & ENTERTAINMENT
IRS990/OtherExpensesGrp/Desc3IN-KIND CONTRIBUTIONS
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt093476
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1800
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt255809
IRS990/OtherExpensesGrp/ProgramServicesAmt02099231
IRS990/OtherExpensesGrp/ProgramServicesAmt11700000
IRS990/OtherExpensesGrp/ProgramServicesAmt2284404
IRS990/OtherExpensesGrp/ProgramServicesAmt3159570
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IRS990/OtherExpensesGrp/TotalAmt11700800
IRS990/OtherExpensesGrp/TotalAmt2355061
IRS990/OtherExpensesGrp/TotalAmt3159570
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IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS REVENUE
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt02768190
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IRS990/PoliticalCampaignActyInd00
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IRS990/PYExcessBenefitTransInd00
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IRS990/PYProgramServiceRevenueAmt00
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IRS990/PYSalariesCompEmpBnftPaidAmt089554
IRS990/PYTotalExpensesAmt09718792
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IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd01
IRS990ScheduleA/CollegeOrganizationInd0X
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0OTHER INCOME IS COMPRISED OF PREMIUM STADIUM SEATING, ARKANSAS STATE UNIVERSITY BOWL GAME, CONTRACT SERVICE BUYOUTS; FOOTBALL STADIUM ENHANCEMENTS FOR THE BENEFIT OF ARKANSAS STATE UNIVERSITY; CORPORATE AND INDIVIDUAL SPONSORSHIPS.
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IRS990ScheduleA/PublicSupportCY170Pct00.49270
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IRS990ScheduleA/TotalSupportAmt037478419

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$48,087,573
Liabilities
$42,536,725
Net assets
$5,550,848
Revenue
$6,373,064
Expenses
$9,759,123
Net income
-$3,386,059
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$41.0$35.3$5.73$10.4$9.32$1.10
2024Detailed filing. Detailed filing data is available for this year.$44.6$40.0$4.57$8.31$9.38$1.07
2023Detailed filing. Detailed filing data is available for this year.$48.1$42.5$5.55$6.37$9.76$3.39
2022Detailed filing. Detailed filing data is available for this year.$49.0$40.2$8.80$6.49$9.72$3.23
2021Detailed filing. Detailed filing data is available for this year.$56.9$44.4$12.5$7.74$9.29$1.55
2020Detailed filing. Detailed filing data is available for this year.$64.6$54.6$10.0$8.14$8.55$0.41
2019Detailed filing. Detailed filing data is available for this year.$63.4$53.6$9.78$9.02$7.93$1.09
2018Detailed filing. Detailed filing data is available for this year.$55.4$46.7$8.69$7.39$8.37$0.98
2017Detailed filing. Detailed filing data is available for this year.$42.8$32.0$10.7$12.8$6.98$5.81
2016Detailed filing. Detailed filing data is available for this year.$44.6$39.7$4.91$7.50$8.17$0.67
2015Summary only. Only limited summary data is available for this year.$25.2$19.6$5.58$6.07$6.60$0.52
2014Summary only. Only limited summary data is available for this year.$9.75$3.64$6.11$5.54$3.02$2.53
2013Summary only. Only limited summary data is available for this year.$3.62$0.04$3.58$3.29$3.04$0.25
2012Summary only. Only limited summary data is available for this year.$3.41$0.08$3.33$2.66$1.75$0.91