Indiana University Foundation (EIN 356018940) - Form 990 Financial Analysis & Trantor Score

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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

1936

Legal Domicile

Principal Officer

J Thomas Forbes

Phone

8128558311

Tax Period

2024-07-01 to 2025-06-30

Indiana University Foundation, founded in 1936, is a major nonprofit in the Education sector that reported $598.7M in total revenue in fiscal year 2024. Revenue surged 34% from the prior year, signaling strong growth momentum. The organization ran a surplus of $96.7M, a strong 16% operating margin.

Mission

To maximize private philanthropic support for Indiana 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 (2024)

Revenue Breakdown

Contributions & Grants $335,287,411

Program Service Revenue $54,534,654

Investment Income $194,380,962

Other Revenue $14,449,197

TOTAL REVENUE $598,652,224

Expense Breakdown

Grants Paid $403,572,809

Salaries & Benefits $40,897,543

Fundraising Expenses $28,385,498

Program Expenses $447,372,087

Other Expenses $57,464,525

TOTAL EXPENSES $501,934,877

Year-over-Year Comparison

	2024	2023	Change
Revenue	$598,652,224	$447,818,816	+0.3%
Expenses	$501,934,877	$281,606,520	+0.8%
Net Income	$96,717,347	$166,212,296	-0.4%

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

378

Volunteers

524

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

$900,225

Total Directors

$585,576

Key Employees

$2,401,184

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
J Thomas Forbes	President and CEO	40.00	Officer Director	$511,589	$73,987	$585,576
Pamela S Whitten	Chairman of the Board	0.00	Officer Director	$0	$0	$0
Louis G Jordan	Vice Chair	0.00	Officer Director	$0	$0	$0
Kenneth W Kaczmarek	IUF Board Director/Treasurer	0.00	Officer Director	$0	$0	$0
Aasif M Bade	IUF Board Director	0.00	Director	$0	$0	$0
Alan B Graf	IUF Board Director	0.00	Director	$0	$0	$0
Alisa L Hendrix	IUF Board Director	0.00	Director	$0	$0	$0
Amish Shah	IUF Board Director	0.00	Director	$0	$0	$0
Amy Balcius	IUF Board Director	0.00	Director	$0	$0	$0
Cheng Wu	IUF Board Director (until 6/30/25)	0.00	Director	$0	$0	$0
Cheryl Sullivan	IUF Board Director	0.00	Director	$0	$0	$0
Curtis A Ferguson	IUF Board Director	0.00	Director	$0	$0	$0
David C Evans	IUF Board Director (until 6/30/25)	0.00	Director	$0	$0	$0
David H Jacobs Jr	IUF Board Director	0.00	Director	$0	$0	$0
Dena Rae Hancock	IUF Board Director	0.00	Director	$0	$0	$0
Derrick Burks	IUF Board Director	0.00	Director	$0	$0	$0
Donna Spears	IUF Board Director (until 6/30/25)	0.00	Director	$0	$0	$0
Frank Graves	IUF Board Director	0.00	Director	$0	$0	$0
Glenn Scolnik	IUF Board Director	0.00	Director	$0	$0	$0
Gregg T Summerville	IUF Board Director (until 6/30/25)	0.00	Director	$0	$0	$0
James Fielding	IUF Board Director	0.00	Director	$0	$0	$0
James R Hodge	IUF Board Director	0.00	Director	$0	$0	$0
James Robert Quigg III	IUF Board Director	0.00	Director	$0	$0	$0
Jane M Jorgensen	IUF Board Director	0.00	Director	$0	$0	$0
John Fernandez	IUF Board Director	0.00	Director	$0	$0	$0
Jeff M Fettig	IUF Board Director	0.00	Director	$0	$0	$0
John Timothy Morris	IUF Board Director	0.00	Director	$0	$0	$0
Julie Christopher	IUF Board Director	0.00	Director	$0	$0	$0
Julie Davis	IUF Board Director	0.00	Director	$0	$0	$0
Kathryn R Booth	IUF Board Director	0.00	Director	$0	$0	$0
Kevin Gay	IUF Board Director	0.00	Director	$0	$0	$0
Kim I Pressman	IUF Board Director	0.00	Director	$0	$0	$0
Kristin Mays-Corbitt	IUF Board Director	0.00	Director	$0	$0	$0
Linda S Watson	IUF Board Director	0.00	Director	$0	$0	$0
Mary Boelke	IUF Board Director	0.00	Director	$0	$0	$0
Marya Rose	IUF Board Director	0.00	Director	$0	$0	$0
Melissa Proffitt Schmidt	IUF Board Director	0.00	Director	$0	$0	$0
Michael D Shumate	IUF Board Director	0.00	Director	$0	$0	$0
Nate Feltman	IUF Board Director	0.00	Director	$0	$0	$0
Pamela Carter	IUF Board Director	0.00	Director	$0	$0	$0
Patrica A Martin	IUF Board Director	0.00	Director	$0	$0	$0
Randolph L Seger	IUF Board Director	0.00	Director	$0	$0	$0
Richard E Woosnam	IUF Board Director	0.00	Director	$0	$0	$0
Rick L Johnson Jr	IUF Board Director	0.00	Director	$0	$0	$0
Robert Johnson	IUF Board Director	0.00	Director	$0	$0	$0
Robert L Zerbe	IUF Board Director	0.00	Director	$0	$0	$0
Rodney M Miller Sr	IUF Board Director	0.00	Director	$0	$0	$0
Rose C Mays	IUF Board Director (until 2/28/25)	0.00	Director	$0	$0	$0
Sallie Jo Tardy Mitzell	IUF Board Director	0.00	Director	$0	$0	$0
Steven L Tuchman	IUF Board Director	0.00	Director	$0	$0	$0
Theodore D Dickman	IUF Board Director	0.00	Director	$0	$0	$0
Victor E Renuart	IUF Board Director	0.00	Director	$0	$0	$0
W Michael Wells	IUF Board Director	0.00	Director	$0	$0	$0
William Q Buckner	IUF Board Director	0.00	Director	$0	$0	$0
Philippa Guthrie	EVP, Gen Counsel & Sec. (until 6/25)	40.00	Officer	$246,263	$68,386	$314,649
Steven A Martin	Assistant Corporate Secretary	0.00	Officer	$0	$0	$0
Mary Bonk	Interim EVP Finance and Bus Op, VP Project Managem	40.00	Key Emp	$288,207	$53,241	$341,448
James Bergstrom	Co-CIO	40.00	Key Emp	$435,986	$85,484	$521,470
D Abe Weldy	Co-CIO	40.00	Key Emp	$440,746	$86,040	$526,786
Sarah Beggs	Senior VP, Advancement Services	40.00	Key Emp	$237,876	$66,196	$304,072
Julie McFall	Senior VP, Human Resources & Culture	40.00	Key Emp	$246,597	$46,455	$293,052
Joyce Q Rogers	EVP for Development	40.00	Key Emp	$352,024	$62,332	$414,356
Jeffrey Lindauer	VP, University Advancement	40.00	Highest	$272,224	$36,699	$308,923
Paula Jenkins	VP, Principal Gifts	40.00	Highest	$263,452	$51,673	$315,125
Elizabeth Feeny	VP of Development	40.00	Highest	$231,410	$59,861	$291,271
Catherine Melvin	VP, Fin. and Accounting (until 1/25)	40.00	Highest	$224,884	$73,412	$298,296
Patricia Riveire	Chief Alumni Officer	40.00	Highest	$219,585	$69,055	$288,640
Jeffrey D Stumpf	Former EVP for Finance & Operations	40.00		$256,360	$0	$256,360

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	$598,652,224	$501,934,877	$4,668,012,589	$96,717,347
2024	No data	No data	No data	No data
2023	$426,110,057	$261,097,805	$4,180,043,938	$165,012,252
2022	$496,884,303	$389,768,635	$4,146,756,017	$107,115,668
2021	$362,892,310	$231,169,533	$4,047,053,926	$131,722,777
2020	$228,544,851	$238,335,156	$3,105,176,215	$-9,790,305
2019	$309,542,663	$239,782,427	$3,215,937,812	$69,760,236
2018	$460,633,062	$287,297,017	$3,058,468,864	$173,336,045

Indiana University Foundation