Midwestern State University Foundation Inc

EIN: 751101337 501(c)(3) Education

Wichita Falls, TX

Total Revenue
$6,113,167
Total Expenses
$3,593,533
Total Assets
$79,935,439
Net Assets
$79,935,439
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1960
Legal Domicile
TX
Principal Officer
Kevin O'Connell
Phone
9403224436
Tax Period
2023-09-01 to 2024-08-31

Midwestern State University Foundation Inc, founded in 1960, is a community nonprofit in the Education sector that reported $6.1M in total revenue in fiscal year 2023. Revenue decreased 8% compared to the prior year. The organization ran a surplus of $2.5M, a strong 41% operating margin.

Mission

To receive contributions by means of donations, gifts, and bequests and to expend such funds for the advancement of the literary, scientific, and other educational endeavors of Midwestern State University, a tax exempt institution of higher learning.

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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 $919,314
Program Service Revenue $0
Investment Income $5,192,943
Other Revenue $910
TOTAL REVENUE $6,113,167

Expense Breakdown

Grants Paid $2,825,207
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $2,825,207
Other Expenses $768,326
TOTAL EXPENSES $3,593,533

Year-over-Year Comparison

2023 2022 Change
Revenue $6,113,167 $6,650,686 -0.1%
Expenses $3,593,533 $2,977,854 +0.2%
Net Income $2,519,634 $3,672,832 -0.3%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
14
Independent Members
14
Employees
N/A
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
4
$0
Total Directors
14
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Kevin O'Connell Chairman 2.00
Officer Director
$0 $0 $0
Anthony Inman Vice Chairman 1.00
Officer Director
$0 $0 $0
David Welch Treasurer 1.00
Officer Director
$0 $0 $0
Teresa Caves Secretary 1.00
Officer Director
$0 $0 $0
Darrell Coleman Trustee 1.00
Director
$0 $0 $0
Reno Gustafson Trustee 1.00
Director
$0 $0 $0
Mac Cannedy Jr Trustee 1.00
Director
$0 $0 $0
Erwin Davenport Trustee 1.00
Director
$0 $0 $0
Kay Yeager Trustee 1.00
Director
$0 $0 $0
Martha Fain Trustee 1.00
Director
$0 $0 $0
Butch Ford Trustee 1.00
Director
$0 $0 $0
Brian Hooker Trustee 1.00
Director
$0 $0 $0
Tyrone Moore Trustee 1.00
Director
$0 $0 $0
Tyler Sales 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
2024 $6,113,167 $3,593,533 $79,935,439 $2,519,634
2023 $6,650,686 $2,977,854 $71,288,656 $3,672,832
2022 $4,712,410 $1,883,229 $64,205,017 $2,829,181
2021 $1,097,185 $1,601,550 $32,541,120 $-504,365
2020 $1,570,611 $1,464,343 $29,686,488 $106,268
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