Midwestern State University Founda… - 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

1960

Legal Domicile

Principal Officer

Kevin O'Connell

Phone

9403224436

Tax Period

2024-09-01 to 2025-08-31

Midwestern State University Foundation Inc, founded in 1960, is a community nonprofit in the Education sector that reported $8.6M in total revenue in fiscal year 2024. Revenue surged 41% from the prior year, signaling strong growth momentum. The organization ran a surplus of $4.6M, a strong 53% 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.

Program Service Accomplishments

Program 1

Expenses: $962,914

Awarding scholarships to qualified students on the basis of need and merit.

Program 2

Expenses: $2,206,444

Funding of various special projects of the 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 $2,953,187

Program Service Revenue $0

Investment Income $5,654,109

Other Revenue $1,119

TOTAL REVENUE $8,608,415

Expense Breakdown

Grants Paid $3,169,358

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $3,169,358

Other Expenses $838,957

TOTAL EXPENSES $4,008,315

Year-over-Year Comparison

	2024	2023	Change
Revenue	$8,608,415	$6,113,167	+0.4%
Expenses	$4,008,315	$3,593,533	+0.1%
Net Income	$4,600,100	$2,519,634	+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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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

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

Total Directors

Key Employees

Highest Compensated

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
Selby Lilly	Trustee	1.00	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
AR Dillard	Trustee	1.00	Director	$0	$0	$0
Spike Thomas	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
2025	$8,608,415	$4,008,315	$85,137,475	$4,600,100
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

Midwestern State University Foundation Inc