SOUTHWEST MINNESOTA STATE UNIVERSITY FOUNDATION

EIN: 237108470 501(c)(3) Education

MARSHALL, MN

Total Revenue
$6,333,631
Total Expenses
$3,746,514
Total Assets
$30,694,384
Net Assets
$28,028,128
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1963
Legal Domicile
MN
Principal Officer
BRAD BACON
Phone
5075326265
Tax Period
2023-07-01 to 2024-06-30

SOUTHWEST MINNESOTA STATE UNIVERSITY FOUNDATION, founded in 1963, is a community nonprofit in the Education sector that reported $6.3M in total revenue in fiscal year 2023. Revenue decreased 18% compared to the prior year. The organization ran a surplus of $2.6M, a strong 41% operating margin.

Mission

TO PROMOTE SOUTHWEST MINNESOTA STATE UNIVERSITY AND RAISE MONEY FOR SCHOLARSHIPS FOR STUDENTS.

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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 $2,628,570
Program Service Revenue $336,004
Investment Income $2,877,120
Other Revenue $491,937
TOTAL REVENUE $6,333,631

Expense Breakdown

Grants Paid $2,178,324
Salaries & Benefits $333,191
Fundraising Expenses $183,933
Program Expenses $2,815,622
Other Expenses $1,234,999
TOTAL EXPENSES $3,746,514

Year-over-Year Comparison

2023 2022 Change
Revenue $6,333,631 $7,721,710 -0.2%
Expenses $3,746,514 $2,654,701 +0.4%
Net Income $2,587,117 $5,067,009 -0.5%
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

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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
18
Independent Members
18
Employees
N/A
Volunteers
52

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
4
$0
Total Directors
14
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DORENE KRONKE-MCCOURT DIRECTOR N/A
Director
$0 $0 $0
KRISTI MUKOMELA SECRETARY/TR N/A
Officer
$0 $0 $0
JULIE BLEYHL DIRECTOR N/A
Director
$0 $0 $0
TINA CARTWRIGHT DIRECTOR N/A
Director
$0 $0 $0
JERRY BLY DIRECTOR N/A
Director
$0 $0 $0
TIMOTHY BURNS DIRECTOR N/A
Director
$0 $0 $0
CINDY VERSCHAETSE 2ND VICE PRE N/A
Officer
$0 $0 $0
LEE FRENCH DIRECTOR N/A
Director
$0 $0 $0
DAVE WERPY PAST PRESIDE N/A
Officer
$0 $0 $0
BRAD BACON PRESIDENT 1.00
Officer
$0 $0 $0
DUANE CARROW DIRECTOR N/A
Director
$0 $0 $0
JOE ROERS DIRECTOR N/A
Director
$0 $0 $0
NEAL WAHLMAN DIRECTOR N/A
Director
$0 $0 $0
TYLER BOWEN DIRECTOR N/A
Director
$0 $0 $0
JIM FUHRMANN DIRECTOR N/A
Director
$0 $0 $0
ROBERT GUNTHER DIRECTOR N/A
Director
$0 $0 $0
JASON HOFFMAN DIRECTOR N/A
Director
$0 $0 $0
BRIAN KNOCHENMUS DIRECTOR N/A
Director
$0 $0 $0
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 $6,333,631 $3,746,514 $30,694,384 $2,587,117
2023 $7,721,710 $2,654,701 $28,630,680 $5,067,009
2022 $4,996,168 $3,427,939 $22,472,214 $1,568,229
2021 $3,698,366 $2,939,857 $24,583,502 $758,509
2020 $4,232,311 $3,036,148 $22,365,491 $1,196,163
2019 $4,365,490 $2,828,723 $20,701,336 $1,536,767
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