MINNESOTA STATE UNIVERSITY MOORHEAD FOUNDATION INC

EIN: 237101061 501(c)(3)

MOORHEAD, MN

Total Revenue
$6,196,450
Total Expenses
$4,824,504
Total Assets
$64,335,855
Net Assets
$59,534,835
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1969
Legal Domicile
MN
Principal Officer
ADAM BERNIER
Phone
2184772089
Tax Period
2023-07-01 to 2024-06-30

MINNESOTA STATE UNIVERSITY MOORHEAD FOUNDATION INC, founded in 1969, is a community nonprofit that reported $6.2M in total revenue in fiscal year 2023. Revenue surged 45% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.4M, a strong 22% operating margin.

Mission

PROVIDE STUDENT SCHOLARSHIPS, DEPARTMENT SUPPORT AND ALUMNI ACTIVITIES FOR MSUM.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $3,020,055
Program Service Revenue $0
Investment Income $2,977,485
Other Revenue $198,910
TOTAL REVENUE $6,196,450

Expense Breakdown

Grants Paid $1,593,514
Salaries & Benefits $1,534,967
Fundraising Expenses $797,080
Program Expenses $2,246,694
Other Expenses $1,696,023
TOTAL EXPENSES $4,824,504

Year-over-Year Comparison

2023 2022 Change
Revenue $6,196,450 $4,286,839 +0.4%
Expenses $4,824,504 $5,008,513 0.0%
Net Income $1,371,946 $-721,674 -2.9%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
21
Independent Members
21
Employees
16
Volunteers
26

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$0
Total Directors
23
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JAN MAHONEY PRESIDENT 4.00
Officer Director
$0 $0 $0
ADAM BERNIER VICE PRESIDENT 2.50
Officer Director
$0 $0 $0
RON GRAHAM SECRETARY 1.00
Officer Director
$0 $0 $0
TIM SAYLER TREASURER 2.00
Officer Director
$0 $0 $0
BRAD WIMMER PAST PRESIDENT 0.50
Officer Director
$0 $0 $0
TARA BALTES DIRECTOR 0.50
Director
$0 $0 $0
STACY BROMAN DIRECTOR 0.50
Director
$0 $0 $0
PETER BOLOGNA DIRECTOR 0.50
Director
$0 $0 $0
JEANNIE CAMARILLO DIRECTOR 0.50
Director
$0 $0 $0
ELLEN CASE DIRECTOR 0.50
Director
$0 $0 $0
LEAH CLEMEDTSON DIRECTOR 0.50
Director
$0 $0 $0
BRAD SHAMLA DIRECTOR 0.50
Director
$0 $0 $0
DAYNA DEL VAL DIRECTOR 0.50
Director
$0 $0 $0
ANNA KNUTSON DIRECTOR 0.50
Director
$0 $0 $0
BRIAN FRENCH DIRECTOR 0.50
Director
$0 $0 $0
JUDD GRAHAM DIRECTOR 0.50
Director
$0 $0 $0
JENNI HUOTARI DIRECTOR 0.50
Director
$0 $0 $0
KERSTIN KEALY DIRECTOR 0.50
Director
$0 $0 $0
GREGORY LOF DIRECTOR 0.50
Director
$0 $0 $0
PETER GEIB DIRECTOR 0.50
Director
$0 $0 $0
LISA GIESE DIRECTOR 0.50
Director
$0 $0 $0
TONYA STENDE DIRECTOR 0.50
Director
$0 $0 $0
COREY WALTHER DIRECTOR 0.50
Director
$0 $0 $0
GARY HAUGO EXECUTIVE DIRECTOR 20.00
Officer
$0 $0 $0
JARED MILLER AVP OF DEVELOPMENT 40.00
Highest
$142,713 $7,436 $150,149
NANETTE BOE DIRECTOR OF FINANCE AND AD 40.00
Highest
$117,524 $6,111 $123,635
JENNI WALTHALL SENIOR DIRECTOR OF DEVELOP 40.00
Highest
$112,687 $5,856 $118,543
CODY JANGULA DIRECTOR OF DEVELOPMENT 40.00
Highest
$105,394 $5,500 $110,894
JASON HERBERS DIRECTOR OF DEVELOPMENT - 40.00
Highest
$109,006 $0 $109,006
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 $6,196,450 $4,824,504 $64,335,855 $1,371,946
2023 $4,286,839 $5,008,513 $57,080,593 $-721,674
2022 $22,543,778 $4,300,248 $54,713,743 $18,243,530
2021 $9,416,004 $3,976,967 $57,837,892 $5,439,037
2020 $4,898,144 $3,906,471 $47,050,526 $991,673
2018 $5,875,849 $4,385,418 $38,654,732 $1,490,431
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