MURRAY STATE UNIVERSITY FOUNDATION… - 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

1946

Legal Domicile

Principal Officer

DR DAVID DURR

Phone

2708093017

Tax Period

2023-07-01 to 2024-06-30

MURRAY STATE UNIVERSITY FOUNDATION INC, founded in 1946, is a mid-sized nonprofit in the Education sector that reported $15.7M in total revenue in fiscal year 2023. Revenue surged 55% from the prior year, signaling strong growth momentum. The organization ran a surplus of $8.3M, a strong 53% operating margin.

Mission

ENHANCEMENT OF MURRAY STATE UNIVERSITY BY ASSISTING IN FUNDRAISING, COLLECTING CONTRIBUTIONS FOR STUDENT SCHOLARSHIPS, FACULTY SUPPORT, AND SPECIAL PROJECTS. THE FOUNDATION ALSO ASSISTS IN MANAGING SCHOLARSHIP DISBURSEMENTS AND INVESTMENT MANAGEMENT.

Program Service Accomplishments

Program 1

Expenses: $5,827,246 Revenue: $17,373

IMPROVEMENT AND ENHANCEMENT OF MURRAY STATE UNIVERSITY BY ASSISTING IN FUNDRAISING, COLLECTING CONTRIBUTIONS, AIDING DONORS WITH ESTATE AND PLANNED GIVING AND ESTABLISHING ENDOWMENTS, DISBURSEMENT OF FUNDS TO BE USED FOR SCHOLARSHIPS, ENDOWED PROFESSORSHIPS, FACULTY SUPPORT, AND OTHER EXPENDITURES ON BEHALF OF STUDENTS AND FACULTY.

Program 2

Expenses: $637,782 Revenue: $128,505

PROVIDING RECREATION FOR THE CONVENIENCE OF THE STUDENTS, FACULTY, STAFF, AND ALUMNI OF MURRAY STATE UNIVERSITY, AS WELL AS THE COMMUNITY AND REGION. THROUGH THE OPERATION OF MILLER MEMORIAL GOLF...

PROVIDING RECREATION FOR THE CONVENIENCE OF THE STUDENTS, FACULTY, STAFF, AND ALUMNI OF MURRAY STATE UNIVERSITY, AS WELL AS THE COMMUNITY AND REGION. THROUGH THE OPERATION OF MILLER MEMORIAL GOLF COURSE, THE UNIVERSITY GOLF TEAM UTILIZES THE COURSE AS ITS PRACTICE FACILITY AND HOME COURSE.

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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 $7,356,389

Program Service Revenue $655,209

Investment Income $7,692,274

Other Revenue $35,932

TOTAL REVENUE $15,739,804

Expense Breakdown

Grants Paid $5,555,152

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $6,465,028

Other Expenses $1,865,456

TOTAL EXPENSES $7,420,608

Year-over-Year Comparison

	2023	2022	Change
Revenue	$15,739,804	$10,185,708	+0.5%
Expenses	$7,420,608	$6,973,782	+0.1%
Net Income	$8,319,196	$3,211,926	+1.6%

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

N/A

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

$246,102

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JERRY T SHROAT	CHAIR	2.00	Director	$0	$0	$0
HAROLD G DORAN JR	VICE-CHAIR	2.00	Director	$0	$0	$0
C STEVE STORY	TREASURER	2.00	Director	$0	$0	$0
TIMOTHY M ADAMS	TRUSTEE	1.00	Director	$0	$0	$0
RICHARD A DICK ANDERSON	TRUSTEE	1.00	Director	$0	$0	$0
MARY RHEAETTA RHEA ASHBY	TRUSTEE	1.00	Director	$0	$0	$0
DAVID M DILL	TRUSTEE	1.00	Director	$0	$0	$0
CAMISHA DUFFY	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL S HAMILTON	TRUSTEE	1.00	Director	$0	$0	$0
KAREN JONES SQUIRES	TRUSTEE	1.00	Director	$0	$0	$0
THOMAS B LOGAN	TRUSTEE	1.00	Director	$0	$0	$0
GEORGE E LONG II	TRUSTEE	1.00	Director	$0	$0	$0
JOE A OWEN	TRUSTEE	1.00	Director	$0	$0	$0
LANA G PORTER	TRUSTEE	1.00	Director	$0	$0	$0
JESSICA REED	TRUSTEE	1.00	Director	$0	$0	$0
SHAWN L REYNOLDS	TRUSTEE	1.00	Director	$0	$0	$0
DENNIS W SMITH	TRUSTEE	1.00	Director	$0	$0	$0
GARY THOMAS DRAFFEN	TRUSTEE	1.00	Director	$0	$0	$0
ALAN C STOUT	TRUSTEE	1.00	Director	$0	$0	$0
TIMOTHY S TODD	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL M PITMAN	TRUSTEE	1.00	Director	$0	$0	$0
KATHY HARRIS	TRUSTEE	1.00	Director	$0	$0	$0
DR DAVID W DURR	PRESIDENT	20.00	Officer	$81,715	$12,804	$94,519
CAROL GALLIMORE	SECRETARY	38.00	Officer	$41,975	$18,946	$60,921
ELLEN DALE	CONTROLLER	40.00	Officer	$80,927	$7,200	$88,127
JAMES CRAWFORD	CONTROLLER (PARTIAL YEAR)	40.00	Officer	$2,303	$232	$2,535

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	$15,739,804	$7,420,608	$192,247,701	$8,319,196
2023	$10,185,709	$6,973,783	$170,455,346	$3,211,926
2022	$13,383,107	$5,465,613	$158,062,479	$7,917,494
2021	$13,646,404	$5,530,455	$179,089,446	$8,115,949
2020	$8,079,153	$4,740,360	$141,577,757	$3,338,793
2019	$8,162,194	$4,434,297	$138,054,243	$3,727,897

MURRAY STATE UNIVERSITY FOUNDATION INC