Montana State University Foundation Inc (EIN 816001649) - Form 990 Financial Analysis & Trantor Score

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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

Fran Albrecht

Phone

4069942053

Tax Period

2024-07-01 to 2025-06-30

Montana State University Foundation Inc, founded in 1946, is a major nonprofit in the Education sector that reported $147.4M in total revenue in fiscal year 2024. Revenue surged 46% from the prior year, signaling strong growth momentum. The organization ran a surplus of $60.0M, a strong 41% operating margin.

Mission

Cultivate lifelong relationships and secure private support to advance Montana State 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 $124,843,945

Program Service Revenue $4,503,494

Investment Income $17,705,535

Other Revenue $383,104

TOTAL REVENUE $147,436,078

Expense Breakdown

Grants Paid $73,058,871

Salaries & Benefits $8,659,967

Fundraising Expenses $5,058,233

Program Expenses $74,929,588

Other Expenses $5,750,893

TOTAL EXPENSES $87,469,731

Year-over-Year Comparison

	2024	2023	Change
Revenue	$147,436,078	$101,083,515	+0.5%
Expenses	$87,469,731	$41,668,972	+1.1%
Net Income	$59,966,347	$59,414,543	+0.0%

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

Volunteers

150

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

$586,588

Total Directors

Key Employees

$218,774

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Nancy Seleski	Chair	6.50	Officer Director	$0	$0	$0
Bill Sanderson	Vice Chair	0.80	Officer Director	$0	$0	$0
Mary Ann Pearce	Former Chair (Until 11/24)	1.50	Officer Director	$0	$0	$0
Darryl Thompson	Secretary/Treasurer	4.00	Officer Director	$0	$0	$0
Greg Collins	Past Chair	3.90	Officer Director	$0	$0	$0
Ron Aasheim	Governor	2.10	Director	$0	$0	$0
Behrooz Abdi	Governor	1.10	Director	$0	$0	$0
Mark Bacigalupo	Governor	1.20	Director	$0	$0	$0
Frank Benevento	Governor	0.50	Director	$0	$0	$0
Jomarie Bliss	Governor	1.80	Director	$0	$0	$0
Brian Brown	Governor (Joined 11/24)	0.50	Director	$0	$0	$0
Don Cape Jr	Governor	1.00	Director	$0	$0	$0
Jill Cuniff	Governor	2.70	Director	$0	$0	$0
Ingrid Degreef	Governor	2.30	Director	$0	$0	$0
Wayne Edwards	Governor (Joined 7/24)	0.70	Director	$0	$0	$0
Carol Ezrati	Governor (Joined 7/24)	1.50	Director	$0	$0	$0
Don Gimbel	Governor	0.20	Director	$0	$0	$0
Denise Juneau	Governor (Until 7/24)	0.10	Director	$0	$0	$0
Ron Lewis	Governor	0.30	Director	$0	$0	$0
Chris Nygren	Governor	0.80	Director	$0	$0	$0
Steve Rovig	Governor (Until 7/24)	0.30	Director	$0	$0	$0
Lynda Sedivy	Governor	0.80	Director	$0	$0	$0
Walter Smith	Governor	0.60	Director	$0	$0	$0
Kent Strazza	Governor	1.00	Director	$0	$0	$0
Steve Wheeler	Governor	0.70	Director	$0	$0	$0
Andrew Wilcox	Governer	0.70	Director	$0	$0	$0
Fran Albrecht	President and CEO	50.00	Officer	$301,975	$35,460	$337,435
Melissa Kinnear Until 1124	VP of Finance & Accounting	50.00	Officer	$213,143	$36,010	$249,153
Jen Nord From 0525	VP of Finance & Accounting	30.00	Officer	$0	$0	$0
Shannon Schumacher	VP of Development	50.00	Key Emp	$188,877	$29,897	$218,774
Kathleen Saylor	Sr. Director of Special Projects	40.00	Highest	$170,014	$24,612	$194,626
Kerry Hanson	VP of Engagement	40.00	Highest	$158,356	$25,885	$184,241
Kevin Brown	Assoc. VP of Development for ETGP	40.00	Highest	$150,897	$33,477	$184,374
Therese Weller	Sr. Managing Director of ETGP	40.00	Highest	$144,775	$28,929	$173,704
Jacqueline Sather Sr Managing	Director of Development, OR	40.00	Highest	$133,618	$27,897	$161,515
Christopher Murray	Former President and CEO	0.00		$169,292	$0	$169,292
Mary Jane McGarity	Former Interim President and CEO	40.00		$109,702	$25,747	$135,449
Chris Glick Until 0224	Former VP of Development	0.00		$109,177	$9,174	$118,351

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	$147,436,078	$87,469,731	$529,070,770	$59,966,347
2024	$101,083,515	$41,668,972	$453,249,914	$59,414,543
2023	$61,224,540	$29,360,325	$379,099,449	$31,864,215
2022	$68,811,892	$46,879,130	$330,292,309	$21,932,762
2021	$36,483,820	$26,057,212	$333,574,086	$10,426,608
2020	$31,692,855	$22,517,889	$271,741,291	$9,174,966
2019	$41,261,685	$32,729,666	$268,984,738	$8,532,019
2018	$30,477,479	$42,215,439	$260,560,693	$-11,737,960

Montana State University Foundation Inc