MOREHEAD STATE UNIVERSITY FOUNDATI… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1979

Legal Domicile

Principal Officer

RICHARD L HESTERBERG

Phone

6067832599

Tax Period

2023-07-01 to 2024-06-30

MOREHEAD STATE UNIVERSITY FOUNDATION INC, founded in 1979, is a mid-sized nonprofit that reported $10.2M in total revenue in fiscal year 2023. Revenue surged 57% from the prior year, signaling strong growth momentum. The organization ran a surplus of $3.5M, a strong 34% operating margin.

Mission

TO PROVIDE MARGIN OF EXCELLENCE OPPORTUNITY FUNDING TO MOREHEAD STATE UNIVERSITY IN AN EFFORT TO ASSIST MSU IN REACHING ITS ESTABLISHED GOALS. THE MISSION OF MOREHEAD FOUNDATION IS TO PRUDENTLY ADMINISTER ALL ASSETS OF THE FOUNDATION AND/OR MOREHEAD STATE UNIVERSITY AS PROVIDED BY FEDERAL AND STATE LAW AND REGULATION AND THROUGH FIDUCIARY RESPONSIBILITY BETWEEN THE UNIVERSITY AND THE FOUNDATION, TO PROMOTE EDUCATIONAL PURPOSES IN CONNECTION WITH OR AT THE REQUEST OF THE UNIVERSITY BY ENCOURAGING, SPONSORING AND SUPPORTING INSTITUTIONAL PRIORITIES, TO PROVIDE ADVICE, CONSULTATION AND SUPPORT TO THE PRESIDENT AND THE BOARD OF REGENTS OF MOREHEAD STATE UNIVERSITY, AND TO PROVIDE VOLUNTEER LEADERSHIP TO MOREHEAD STATE UNIVERSITY'S FUND RAISING PROGRAMS AND TO ASSIST OTHER INSTITUTIONAL ADVANCEMENT EFFORTS.

Program Service Accomplishments

Program 1

Expenses: $2,476,875 Revenue: $555,067

GENERAL FUND - PROVIDED ASSISTANCE TO THE VARIOUS ACADEMIC PROGRAMS AT MOREHEAD STATE UNIVERSITY.

Program 2

Expenses: $1,045,507

SCHOLARSHIP FUND - PROVIDED SCHOLARSHIPS FOR ELIGIBLE STUDENTS AT MOREHEAD STATE UNIVERSITY.

Program 3

Expenses: $1,654,322 Revenue: $325,117

EAGLE ATHLETIC FUND - PROVIDED ASSISTANCE TO THE VARIOUS SPORTS PROGRAMS AT MOREHEAD STATE UNIVERSITY.

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $7,261,212

Program Service Revenue $0

Investment Income $2,052,472

Other Revenue $877,472

TOTAL REVENUE $10,191,156

Expense Breakdown

Grants Paid $4,919,933

Salaries & Benefits $242,768

Fundraising Expenses $105,114

Program Expenses $5,749,170

Other Expenses $1,531,226

TOTAL EXPENSES $6,693,927

Year-over-Year Comparison

	2023	2022	Change
Revenue	$10,191,156	$6,483,169	+0.6%
Expenses	$6,693,927	$6,288,780	+0.1%
Net Income	$3,497,229	$194,389	+17.0%

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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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MR PERRY ALLEN	BOARD CHAIR	1.00	Director	$0	$0	$0
MR ANDREW JONES	VICE CHAIR	1.00	Director	$0	$0	$0
MR BOB ALBERT	TREASURER	1.00	Director	$0	$0	$0
MR BRETT TRAVER	TRUSTEE	1.00	Director	$0	$0	$0
MR RICK HESTERBERG	FOUNDATION, CEO	1.00	Officer Director	$0	$0	$0
MR RONALD CARTEE	TRUSTEE	1.00	Director	$0	$0	$0
MR RONALD COOPER	TRUSTEE	1.00	Director	$0	$0	$0
MR JON HARVILLE	TRUSTEE	1.00	Director	$0	$0	$0
MR KEVIN JOHNS	TRUSTEE	1.00	Director	$0	$0	$0
MR JOHN MERCHANT	TRUSTEE	1.00	Director	$0	$0	$0
MR ANDRE PREFONTAINE	TRUSTEE	1.00	Director	$0	$0	$0
MS HEATHER THOMPSON	TRUSTEE	1.00	Director	$0	$0	$0
MS JANICE TOWLES	TRUSTEE	1.00	Director	$0	$0	$0
MR JAMES JENNINGS	TRUSTEE	1.00	Director	$0	$0	$0
MR BRIAN MCBRAYER	TRUSTEE	1.00	Director	$0	$0	$0
MS PEGGY OSBORNE	TRUSTEE	1.00	Director	$0	$0	$0
MS BARBARA ISON	TRUSTEE	1.00	Director	$0	$0	$0
MR BRANDON FRALEY	TRUSTEE	1.00	Director	$0	$0	$0
MR DANIEL MCGOWAN	TRUSTEE	1.00	Director	$0	$0	$0
MR BERNIE MCKAY	TRUSTEE	1.00	Director	$0	$0	$0
MS COLLEEN PAYNE	TRUSTEE	1.00	Director	$0	$0	$0
MR TODD PHILLIPS	TRUSTEE	1.00	Director	$0	$0	$0
MS KIMBERLY HAYES TAYLOR	TRUSTEE	1.00	Director	$0	$0	$0
MS TERRI WALTERS	TRUSTEE	1.00	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	$10,191,156	$6,693,927	$85,025,098	$3,497,229
2023	$6,483,169	$6,288,780	$75,848,542	$194,389
2022	$5,625,447	$4,860,752	$71,026,535	$764,695
2021	$4,891,243	$3,294,665	$74,127,957	$1,596,578
2020	$9,754,504	$3,979,488	$59,808,708	$5,775,016
2019	$6,240,724	$5,153,766	$56,100,714	$1,086,958

MOREHEAD STATE UNIVERSITY FOUNDATION INC