MINNESOTA STATE UNIVERSITY MANKATO FOUNDATION INC

EIN: 416033423 501(c)(3) Education

MANKATO, MN

Total Revenue
$16,316,150
Total Expenses
$7,257,034
Total Assets
$101,080,500
Net Assets
$100,179,819
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Financial Trends

Organization Details

Formation Year
1959
Legal Domicile
MN
Principal Officer
JIM LUND
Phone
5073895595
Tax Period
2023-07-01 to 2024-06-30

MINNESOTA STATE UNIVERSITY MANKATO FOUNDATION INC, founded in 1959, is a mid-sized nonprofit in the Education sector that reported $16.3M in total revenue in fiscal year 2023. Revenue surged 107% from the prior year, signaling strong growth momentum. The organization ran a surplus of $9.1M, a strong 56% operating margin.

Mission

MINNESOTA STATE UNIVERSITY, MANKATO FOUNDATION, INC. IS DEDICATED TO SECURING PRIVATE GIFTS AND GRANTS TO BENEFIT MINNESOTA STATE UNIVERSITY, MANKATO. EACH YEAR, THOUSANDS OF GENEROUS BENEFACTORS MAKE GIFTS TO HELP STUDENTS, FACULTY AND PROGRAMS AT THIS UNIVERSITY. THE FOUNDATION'S MISSION IS TO ENHANCE THE UNIVERSITY'S ABILITY TO ACHIEVE ITS MISSION BY ENCOURAGING AND STEWARDING SUSTAINED PHILANTHROPIC SUPPORT FROM ALUMNI AND FRIENDS. THE FOUNDATION OPERATES WITH RESPONSIBLE STEWARDSHIP, INTEGRITY, TRANSPARENCY AND TRUST, PROVIDES LEADERSHIP, ADVOCACY AND SUPPORT OF THE UNIVERSITY'S STRATEGIC PRIORITIES, PROVIDES SUPPORT FOR EDUCATIONAL ACCESS AND FOR ENRICHING EXPERIENCES FOR STUDENTS, AND PROVIDES LEADERSHIP IN PROMOTING AND ENGAGING DONOR PASSION.

Program Service Accomplishments

Program 1
Expenses: $2,668,476 Revenue: $0

THE ORGANIZATION PROVIDES STUDENT AID OPPORTUNITIES FOR STUDENTS TO RECEIVE ACADEMIC SCHOLARSHIPS, ATHLETIC TALENT GRANTS, AND OTHER AWARDS AND SCHOLARSHIPS.

Program 2
Expenses: $1,350,863 Revenue: $0

THE ORGANIZATION PROVIDES SUPPORT TO VARIOUS ACADEMIC AND ATHLETIC PROGRAMS, CLUBS, AND CONFERENCES OF THE UNIVERSITY. SUPPORT FOR UNIVERSITY ATHLETIC PROGRAMS - $653,893. SUPPORT FOR FACILITIES FOR...

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THE ORGANIZATION PROVIDES SUPPORT TO VARIOUS ACADEMIC AND ATHLETIC PROGRAMS, CLUBS, AND CONFERENCES OF THE UNIVERSITY. SUPPORT FOR UNIVERSITY ATHLETIC PROGRAMS - $653,893. SUPPORT FOR FACILITIES FOR VARIOUS ACADEMIC PROGRAMS - $96,200. SUPPORT FOR UNIVERSITY MUSIC PROGRAMS - $10,900. SUPPORT FOR THEATRE & DANCE PROGRAMS - $74,761. SUPPORT OF THE CENTER FOR RURAL BEHAVIORAL HEALTH - $350,000. SUPPORT FOR UNIVERSITY AUXILIARY PROGRAMS - $50,176. SUPPORT FOR EQUIPMENT AND FACILITIES FOR VARIOUS ATHLETICS PROGRAMS - $64,933. SUPPORT FOR THE MAVERICK REC N READ PROGRAM - $50,000.

Program 3
Expenses: $1,591,236 Revenue: $0

THE ORGANIZATION PROVIDES SUPPORT FOR THE DEVELOPMENT OF STUDENTS AND STAFF THROUGH CONFERENCES, CONVENTIONS, WORKSHOPS, MEETINGS, SPEAKERS, AND OTHER PROFESSIONAL DEVELOPMENT ACTIVITIES. THE...

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THE ORGANIZATION PROVIDES SUPPORT FOR THE DEVELOPMENT OF STUDENTS AND STAFF THROUGH CONFERENCES, CONVENTIONS, WORKSHOPS, MEETINGS, SPEAKERS, AND OTHER PROFESSIONAL DEVELOPMENT ACTIVITIES. THE ORGANIZATION PROVIDES SUPPORT FOR STAFF AND STUDENT SALARIES, SUPPLIES, EQUIPMENT RENTAL, PRINTING, POSTAGE, AND OTHER EXPENSES USED TO ASSIST DAILY EDUCATIONAL OPERATIONS AND ACTIVITIES.

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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 $12,245,036
Program Service Revenue $0
Investment Income $4,037,289
Other Revenue $33,825
TOTAL REVENUE $16,316,150

Expense Breakdown

Grants Paid $4,019,338
Salaries & Benefits $855,876
Fundraising Expenses $417,255
Program Expenses $5,610,575
Other Expenses $2,381,820
TOTAL EXPENSES $7,257,034

Year-over-Year Comparison

2023 2022 Change
Revenue $16,316,150 $7,880,381 +1.1%
Expenses $7,257,034 $6,221,910 +0.2%
Net Income $9,059,116 $1,658,471 +4.5%
Key Indicators
✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
25
Independent Members
25
Employees
N/A
Volunteers
37

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
5
$252,033
Total Directors
28
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
HAROLD K STANLEY EXECUTIVE DIR. THRU 06/24 40.00
Officer
$206,942 $45,091 $252,033
ALLAN BOHLKE BOARD CHAIR 2.00
Officer Director
$0 $0 $0
JIM LUND BOARD VICE-CHAIR 0.60
Officer Director
$0 $0 $0
TODD LOOSBROCK TREASURER 0.60
Officer Director
$0 $0 $0
JENNIFER SPAUDE SECRETARY 0.30
Officer Director
$0 $0 $0
JAY ADAMS DIRECTOR 0.30
Director
$0 $0 $0
BRETT ANDERSON DIRECTOR 0.30
Director
$0 $0 $0
MONA ASKALANI DIRECTOR 0.30
Director
$0 $0 $0
MELISSA BRADLEY DIRECTOR 0.30
Director
$0 $0 $0
RODNEY BROWN DIRECTOR 0.30
Director
$0 $0 $0
CRAIG GOMEZ DIRECTOR 0.30
Director
$0 $0 $0
BARBARA HUBBARD DIRECTOR 0.40
Director
$0 $0 $0
TIMOTHY HUEBSCH DIRECTOR 0.30
Director
$0 $0 $0
LISA HYLAND DIRECTOR 0.30
Director
$0 $0 $0
ERIC JOHNSON DIRECTOR 0.30
Director
$0 $0 $0
ROD JOHNSON DIRECTOR THRU 05/24 0.50
Director
$0 $0 $0
KAMAL KARAM DIRECTOR 0.30
Director
$0 $0 $0
BARB KAUS DIRECTOR 0.30
Director
$0 $0 $0
TODD KELZENBERG DIRECTOR 0.30
Director
$0 $0 $0
CHRISTINE LANTINEN DIRECTOR 0.30
Director
$0 $0 $0
KRIS LINDAHL DIRECTOR THRU 05/24 0.30
Director
$0 $0 $0
SUSAN MICHALETZ DIRECTOR 0.50
Director
$0 $0 $0
DANIEL MUNDAHL DIRECTOR 0.30
Director
$0 $0 $0
KAREN OBERLE DIRECTOR 0.30
Director
$0 $0 $0
MICHELLE SCHOOFF DIRECTOR 0.30
Director
$0 $0 $0
CHAD TISCHER DIRECTOR 0.40
Director
$0 $0 $0
RON VETTER DIRECTOR THRU 05/24 0.30
Director
$0 $0 $0
KIRSTEN VOSS DIRECTOR 0.30
Director
$0 $0 $0
BILL WILTGEN DIRECTOR 0.40
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 $16,316,150 $7,257,034 $101,080,500 $9,059,116
2023 $7,880,381 $6,221,910 $86,434,052 $1,658,471
2022 $9,285,148 $7,531,061 $77,015,205 $1,754,087
2021 $15,243,614 $9,705,209 $85,675,162 $5,538,405
2020 $9,663,782 $6,846,305 $67,577,762 $2,817,477
2019 $8,513,698 $7,828,270 $67,583,531 $685,428
2018 $10,963,272 $7,803,299 $67,537,592 $3,159,973
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