MULTI-STATE LOTTERY ASSOCIATION

EIN: 421302701 501(c)(3) Public & Societal Benefit

JOHNSTON, IA

Total Revenue
$40,627,021
Total Expenses
$35,453,998
Total Assets
$923,899,374
Net Assets
$68,010,748
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1988
Legal Domicile
IA
Principal Officer
Shannon Underwood
Phone
5154531409
Tax Period
2024-07-01 to 2025-06-30

MULTI-STATE LOTTERY ASSOCIATION, founded in 1988, is a mid-sized nonprofit in the Public & Societal Benefit sector that reported $40.6M in total revenue in fiscal year 2024. Revenue decreased 11% compared to the prior year. Expenses of $35.5M left a modest 13% surplus.

Mission

The Multi-State Lottery Association MUSL is a non-profit government benefit voluntary association that is entirely owned and operated by its 39 member lotteries. Each MUSL member lottery offers one or more multi-jurisdictional lottery games administered with the assistance of MUSL. All profits are retained by the individual lotteries and are used to fund projects or purposes approved by their authorizing legislatures. Among the services offered to member and licensee lotteries MUSL conducts drawings; performs game development and research; provides central accounting including multi-jurisdictional prize fund holdings and transfer; and purchases government securities and annuities to fund prize payments.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $71,238
Investment Income $39,661,268
Other Revenue $894,515
TOTAL REVENUE $40,627,021

Expense Breakdown

Grants Paid $0
Salaries & Benefits $3,621,676
Fundraising Expenses $0
Program Expenses $0
Other Expenses $31,832,322
TOTAL EXPENSES $35,453,998

Year-over-Year Comparison

2024 2023 Change
Revenue $40,627,021 $45,604,280 -0.1%
Expenses $35,453,998 $17,420,220 +1.0%
Net Income $5,173,023 $28,184,060 -0.8%
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
39
Independent Members
39
Employees
34
Volunteers
N/A

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
1
$469,244
Total Directors
39
$0
Key Employees
0
$0
Highest Compensated
6
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
J Bret Toyne Executive Director 40.00
Officer
$371,730 $97,514 $469,244
Wayne Dolezal Deputy Executive Director 40.00
Highest
$215,541 $53,895 $269,436
Robert Nitz Director of Information Security 40.00
Highest
$194,327 $40,621 $234,948
Patricia Lantz General Counsel 40.00
Highest
$182,397 $45,373 $227,770
Dallas Beek Senior Developer 40.00
Highest
$164,141 $37,253 $201,394
Shannon Underwood Director of Finance 40.00
Highest
$168,911 $18,427 $187,338
Sue Dooley Director of Draws and Production 40.00
Highest
$132,380 $15,105 $147,485
Sharon Strong Board Member 0.00
Director
$0 $0 $0
Alec Esteban Thomson Board Member 0.00
Director
$0 $0 $0
Tom Seaver Board Member 0.00
Director
$0 $0 $0
Randy Burnside Board Member 0.00
Director
$0 $0 $0
Frank Suarez Board Member 0.00
Director
$0 $0 $0
Helene Keeley Board Member 0.00
Director
$0 $0 $0
John Davis Board Member 0.00
Director
$0 $0 $0
Matt Strawn Board Member 0.00
Director
$0 $0 $0
Andrew Arulandandam Board Member 0.00
Director
$0 $0 $0
Sarah Taylor Board Member 0.00
Director
$0 $0 $0
Stephen Durrell Board Member 0.00
Director
$0 $0 $0
Mary Harville Board Member 0.00
Director
$0 $0 $0
Rose Hudson Board Member 0.00
Director
$0 $0 $0
Michael Boardman Board Member 0.00
Director
$0 $0 $0
Adam Prock Board Member 0.00
Director
$0 $0 $0
Lester Elder Board Member 0.00
Director
$0 $0 $0
Jeff Hewitt Board Member 0.00
Director
$0 $0 $0
Bob Brown Board Member 0.00
Director
$0 $0 $0
Mark Michalko Board Member 0.00
Director
$0 $0 $0
Thomas Lawler Board Member 0.00
Director
$0 $0 $0
Brian Rockey Board Member 0.00
Director
$0 $0 $0
Charlie McIntyre Board Member 0.00
Director
$0 $0 $0
David Barden Board Member 0.00
Director
$0 $0 $0
Gweneth Dean Board Member 0.00
Director
$0 $0 $0
Jay Finks Board Member 0.00
Director
$0 $0 $0
Mike Wells Board Member 0.00
Director
$0 $0 $0
Drew Svitko Board Member 0.00
Director
$0 $0 $0
John Martin Board Member 0.00
Director
$0 $0 $0
Jayson Torres Board Member 0.00
Director
$0 $0 $0
Mark Furcolo Board Member 0.00
Director
$0 $0 $0
Dolly Garfield Board Member 0.00
Director
$0 $0 $0
Norm Lingle Board Member 0.00
Director
$0 $0 $0
Rebecca Paul Board Member 0.00
Director
$0 $0 $0
Courtney Arbour Board Member 0.00
Director
$0 $0 $0
Raymond Williams Board Member 0.00
Director
$0 $0 $0
Mike Ferrant Board Member 0.00
Director
$0 $0 $0
Cindy Polzin Board Member 0.00
Director
$0 $0 $0
David Bradley Board Member 0.00
Director
$0 $0 $0
Jon Clontz Board Member 0.00
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 $40,627,021 $35,453,998 $923,899,374 $5,173,023
2024 $45,604,280 $17,420,220 $782,441,843 $28,184,060
2023 $30,929,483 $6,353,212 $857,187,900 $24,576,271
2022 $3,442,102 $5,580,330 $767,024,005 $-2,138,228
2021 $1,324,240 $4,832,262 $848,609,729 $-3,508,022
2020 $7,523,146 $13,781,535 $534,266,385 $-6,258,389
2019 $18,637,167 $6,716,528 $507,711,452 $11,920,639
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