Saginaw Valley State University Foundation in University Center, Michigan (MI)

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Saginaw Valley State University Foundation
Employer Identification Number (EIN)386085447
Name of OrganizationSaginaw Valley State University Foundation
Address7400 Bay Road, University Center, MI 48710-0001
ActivitiesGifts, grants, or loans to other organizations
SubsectionCharitable Organization, Educational Organization
Ruling Date02/1964
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2014
Assets$50,000,000 to greater
Income$10,000,000 to $49,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$76,154,334
Amount of Income$16,323,850
Form 990 Revenue Amount$14,323,850
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Single Organization Support


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Amount of income in 2014: $16,323,850
Saginaw Valley State University Foundation: 

 $16,323,850
Other organizations performing similar types of work: 

 $7,370,772

Assets in 2014: $76,154,334
This organization: 

 $76,154,334
Other organizations performing similar types of work: 

 $26,018,213

Expenses in 2014: $4,269,645
Saginaw Valley State University Foundation: 

 $4,269,645
Other organizations performing similar types of work: 

 $2,570,274

Income to expenses ratio in 2014: 3.8
This organization: 

 3.8
Other organizations performing similar types of work: 

 2.5

Expenses allocated to program services in 2007: 74.1%
This organization: 

 74.1%
Other organizations performing similar types of work: 

 84.4%

Grants share in income in 2014: 63.1%
Saginaw Valley State University Foundation: 

 63.1%
Other organizations performing similar types of work: 

 27.0%

Financial snapshot ($)

Revenue for 2014

Assets at the end of 2014

Functional expenses for 2014

Support schedule

Checklist
201220132014
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?NoNoYes
Is the organization required to complete Schedule B, Schedule of Contributors?YesYesYes
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?NoNoNo
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?NoNoNo
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?NoNoNo
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?NoNoNo
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?NoNoNo
Did the organization maintain collections of works of art, historical treasures, or other similar assets?NoNoNo
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?NoNoNo
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?NoNoYes
Did the organization report an amount for land, buildings, and equipment?NoNoNo
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?YesYesYes
Did the organization report an amount for investments-program related that is 5% or more of its total assets?NoNoNo
Did the organization report an amount for other assets that is 5% or more of its total assets?NoYesYes
Did the organization report an amount for other liabilities?NoYesYes
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?NoNoNo
Did the organization obtain separate, independent audited financial statements for the tax year?NoNoNo
Was the organization included in consolidated, independent audited financial statements for the tax year?YesYesYes
Is the organization a school described in section 170(b)(1)(A)(ii)?NoNoNo
Did the organization maintain an office, employees, or agents outside of the United States?NoNoNo
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?NoNoNo
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?NoNoNo
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?NoNoNo
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?NoNoNo
Did the organization report more than $15,000 total of fundraising event gross income and contributions?NoNoNo
Did the organization report more than $15,000 of gross income from gaming activities?NoNoNo
Did the organization operate one or more hospital facilities?NoNoNo
Did the organization attach a copy of its audited financial statements?NoNoNo
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?YesYesYes
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?YesYesYes
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?YesYesYes
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?NoNoNo
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?NoNoNo
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?NoNoNo
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?NoNoNo
Did the organization engage in an excess benefit transaction with a disqualified person during the year?NoNoNo
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?NoNoNo
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?NoNoNo
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?NoNoNo
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?NoNoNo
A family member of a current or former officer, director, trustee, or key employee?NoNoNo
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?NoNoNo
Did the organization receive more than $25,000 in non-cash contributions?YesYesYes
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?NoNoNo
Did the organization liquidate, terminate, or dissolve and cease operations?NoNoNo
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?NoNoNo
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?NoNoNo
Was the organization related to any tax-exempt or taxable entity?YesYesYes
Did the organization have a controlled entity within the meaning of section 512(b)(13)?NoNoNo
Did the organization make any transfers to an exempt non-charitable related organization?NoNoNo
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?NoNoNo
Statements Regarding Other IRS Filings and Tax Compliance
2011201220132014
The number reported in Box 3 of Form 1096233
The number of Forms W-2G000
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?YesYesYes
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return000
Did the organization file all required federal employment tax returns?NoNoNo
Did the organization have unrelated business gross income of $1,000 or more during the year?NoNoNoNo
Has it filed a Form 990-T for this year?NoNoNo
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?YesYesYes
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?NoNoNo
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?NoNoNo
Did the organization file Form 8886-T?NoNoNo
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?NoNoNo
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?NoNoNo
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?YesYesYes
Did the organization notify the donor of the value of the goods or services provided?YesYesYes
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?NoNoNo
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNoNo
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNoNo
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?NoNoNo
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?NoNoNo
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?NoNoNo
Did the sponsoring organization make any taxable distributions under section 4966?NoNoNo
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?NoNoNo
Initiation fees and capital contributions$0$0$0$0
Gross receipts for public use of club facilities $0$0$0$0
Gross income from members or shareholders$0$0$0$0
Gross income from other sources$0$0$0$0
Is the organization filing Form 990 in lieu of Form 1041?NoNoNo
The amount of tax-exempt interest received or accrued during the year$0$0$0
Is the organization licensed to issue qualified health plans in more than one state?NoNoNo
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans$0$0$0
The amount of reserves on hand$0$0$0
Did the organization receive any payments for indoor tanning services during the tax year?NoNoNo
Has it filed a Form 720 to report these payments?NoNoNo
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
201220132014
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization$0$0$0
Total reportable compensation from related organizations$802,752$815,866$1,133,197
Total estimated amount of other compensation from the organization and related organizations$147,690$149,811$229,985
Total number of individuals who received more than $100,000 of reportable compensation from the organization000
Total number of independent contractors who received more than $100,000 of compensation from the organization000
Statement of Revenue
2011201220132014
Total revenue$7,410,690$6,508,091$6,628,733$14,323,850
Contributions, Gifts, Grants and Other Similar Amounts$4,843,137$4,590,501$4,214,070$9,034,347
Program Service Revenue$0$0$0$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$1,146,328$1,122,848$1,616,169$1,535,704
Income from investment of tax-exempt bond proceeds$0$0$0$0
Royalties$0$0$0$0
Net rental income$0$0$0$0
Net gain/loss from sales of assets other than inventory$519,082$-125,713$-160,548$2,876,341
Gross amount from sales of assets other than inventory (Securities / Other)$2,871,293 / $0$1,584,287 / $0$1,689,452 / $0$4,876,341 / $0
Less: cost or other basis and sales expenses (Securities / Other)$2,352,211 / $0$1,710,000 / $0$1,850,000 / $0$2,000,000 / $0
Gain or (loss) (Securities / Other)$519,082 / $0$-125,713 / $0$-160,548 / $0$2,876,341 / $0
Net income/loss from fundraising events$0$0$0$0
Net income/loss from gaming activities$0$0$0$0
Net income/loss from sales of inventory$0$0$0$0
Miscellaneous Revenue$902,143$920,455$959,042$877,458
Educational Support Services$920,455$959,042$877,458
All other revenue$0$0$0
Statement of Functional Expenses
2011201220132014
Total functional expenses$3,706,188$3,502,903$3,975,303$4,269,645
Grants and other assistance to domestic organizations and domestic governments$2,340,691$2,766,999$3,087,825
Grants and other assistance to domestic individuals$75,017$85,664$57,257
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$0$0$0
Benefits paid to or for members$0$0$0
Compensation of current officers, directors, trustees, and key employees$0$0$0$0
Compensation not included above, to disqualified persons$0$0$0
Other salaries and wages$0$0$0$0
Pension plan accruals and contributions$0$0$0
Other employee benefits$0$0$0
Payroll taxes$0$0$0$0
Fees for services (non-employees)
Management$0$0$0
Legal$0$0$0
Accounting$0$0$0
Lobbying$0$0$0
Professional fundraising services$0$0$0$0
Investment management fees$131,965$129,363$136,082
Other$0$0$0
Advertising and promotion$0$0$0
Office expenses$0$0$0
Information technology$0$0$0
Royalties$0$0$0
Occupancy$0$0$0
Travel$0$0$0
Payments of travel or entertainment expenses for any federal, state, or local public officials$0$0$0
Conferences, conventions, and meetings$0$0$0
Interest$0$0$0
Payments to affiliates$0$0$0
Depreciation, depletion, and amortization$0$0$0
Insurance$0$0$0
Other expenses$631,535$841,839$824,938
Other expenses$323,695$117,203$105,488
Other expenses$0$25,247$52,520
Other expenses$0$8,988$5,535
Balance Sheet
2011201220132014
Total assets$51,492,749$53,085,821$60,889,682$76,154,334
Cash - non-interest-bearing$1,553,322$1,924,198$2,971,655
Savings and temporary cash investments$0$0$0
Pledges and grants receivable, net$7,179,838$1,995,728$5,781,316
Accounts receivable, net$0$235,706$22,621
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$0$0$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations$0$0$0
Notes and loans receivable, net$0$0$0
Inventories for sale or use$0$0$0
Prepaid expenses and deferred charges$0$0$0
Land, buildings, and equipment: cost or other basis$0$0$0
Investments - publicly traded securities$40,406,618$46,559,818$56,056,869
Investments - other securities$3,946,043$5,474,255$6,096,852
Investments - program-related$0$0$0
Intangible assets$0$0$0
Other assets$0$4,699,977$5,225,021
Total liabilities$509,709$515,808$775,210$1,068,658
Accounts payable and accrued expenses$446,931$521,424$749,123
Grants payable$0$0$0
Deferred revenue$68,877$0$0
Tax-exempt bond liabilities$0$0$0$0
Escrow or custodial account liability$0$0$0
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons$0$0$0
Secured mortgages and notes payable to unrelated third parties$0$0$0$0
Unsecured notes and loans payable to unrelated third parties$0$0$0$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)$0$253,786$319,535
Total net assets or fund balances$50,983,040$52,570,013$60,114,472$75,085,676
Unrestricted net assets$6,502,500$7,424,664$9,900,352
Temporarily restricted net assets$42,734,285$7,764,551$14,860,040
Permanently restricted net assets$3,333,228$44,925,257$50,325,284
Capital stock or trust principal, or current funds$0$0$0
Paid-in or capital surplus, or land, building, or equipment fund$0$0$0
Retained earnings, endowment, accumulated income, or other funds$0$0$0$0
Reason for Public Charity Status (for 2014)
The organization is not a private foundation because it is:A federal, state, or local government or governmental unit described in section 170(b)(1)(A)(v)
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2010 - 2014)
2010 - 2014 Total
Public Support$22,893,772
Subtotal Support$29,310,962
Gifts, grants, contributions, and membership fees received$24,854,658
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$4,456,304
The portion of total contributions by each person (other than a governmental unit or publicly supported organization) that exceeds 2% of the total support$6,417,190
Total Support$35,713,496
Public Support$29,310,962
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$6,402,534
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income. Do not include gain or loss from the sale of capital assets$0
Gross receipts from related activities, etc.$877,458
Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$11,204,519$6,074,516$1,029,101$2,651,724$3,278,240$10,800,372$10,529,745$5,434,456
Contributions, gifts, grants, and similar amounts received$4,935,725$4,572,728$2,207,212$1,594,568$880,705$8,714,060$4,369,455$3,129,614
Contributions to donor advised funds$4,369,455$0
Direct public support$4,935,725$4,572,728$2,207,212$1,594,568$880,705$8,714,060$0$3,129,614
Indirect public support$0$0$0$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0$0$0$0
Program service revenue including government fees and contracts$0$0$0$0$0$0$0$0
Membership dues and assessments$0$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$157,612$182,960$53,691$21,931$40,828$65,382$141,570$87,878
Dividends and interest from securities$652,773$660,205$435,355$370,959$399,158$543,951$1,120,734$1,444,662
Net rental income or (loss)$0$0$0$0$0$0$0$0
Gross rents$0$0$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0$0$0
Other investment income$0$0$10,629$9,923$8,946$8,407$3,911$0
Gain or (loss) from sales of assets other than inventory$4,972,983$-6,009$-2,224,947$39,721$1,271,424$557,338$3,935,785$89,180
Gross amount from sales of assets other than inventory$10,556,439$646,065$12,005,629$539,721$2,271,424$2,557,338$5,000,000$1,000,000
Less: cost or other basis and sales expenses$5,583,456$652,074$14,230,576$500,000$1,000,000$2,000,000$1,064,215$910,820
Net income or (loss) from special events and activities$0$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0$0
Other revenue$485,426$664,632$547,161$614,622$677,179$911,234$958,290$683,122
Total expenses$2,153,950$3,414,815$7,242,165$3,561,729$3,429,626$3,541,688$3,492,569$3,458,299
Program services$1,550,015$2,727,767$6,578,196$2,827,993$2,633,204$2,454,342$2,387,590$2,563,807
Management and general$485,365$555,174$633,124$675,020$796,422$1,087,346$1,104,979$894,492
Fundraising$118,570$131,874$30,845$58,716$0$0$0$0
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$24,600,446$25,942,509$27,240,860$29,096,456$28,941,484$37,078,832$43,822,086$42,339,826
Excess or (deficit) for the year$9,050,569$2,659,701$-6,213,064$-910,005$-151,386$7,258,684$7,037,176$1,976,157
Net assets or fund balances at beginning of year$21,019,336$24,600,446$31,754,586$27,240,860$29,096,456$28,941,484$37,078,832$43,822,086
Other changes in net assets or fund balances$-5,469,459$-1,317,638$1,699,338$2,765,601$-3,586$878,664$-293,922$-3,458,417
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$3,458,299$2,563,807$894,492$0
Grants paid from donor advised funds$0
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$0$0$0$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$0$0$0$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$0$0$0$0
Payroll taxes$0$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$0$0$0$0
Legal fees$0$0$0$0
Supplies$0$0$0$0
Telephone$0$0$0$0
Postage and shipping$0$0$0$0
Occupancy$0$0$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$0$0$0$0
Travel$0$0$0$0
Conferences, conventions, and meetings$0$0$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$0$0$0$0
Other expenses not covered above$3,458,299$2,563,807$894,492$0
Balance Sheets
20002001200220032004200520062007
Total assets$25,033,367$26,460,130$27,370,590$29,291,704$29,168,627$37,493,713$44,305,757$42,820,803
Cash - non-interest-bearing$0$0$0$0$0$1,543,676$2,678,533$1,735,459
Savings and temporary cash investments$3,791,664$5,144,953$1,111,288$1,086,291$1,263,422$0$0$0
Accounts receivable less allowance for doubtful accounts$0$96$3,627$330,545$7,035$9,769$1,617$2,405
Pledges receivable less allowance for doubtful accounts$0$0$7,117,227$5,752,569$4,760,301$10,608,581$9,125,107$6,300,180
Grants receivable$0$0$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$0
Inventories for sale or use$0$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$0$0$0$0$0$0$0$0
Investments - publicly-traded securities$26,933,242$24,790,124
Investments - other securities$14,388,918$16,826,675$13,159,489$16,857,782$17,477,393$18,307,338$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0$0
Investments - other$6,697,785$4,333,406$5,978,961$5,264,517$5,660,476$7,024,349$5,567,258$9,992,635
Land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0$0
Other assets, including program-related investments$155,000$155,000$0$0$0$0$0$0
Total liabilities$432,921$517,621$129,732$195,248$227,143$414,881$483,671$480,977
Accounts payable and accrued expenses$277,245$361,945$105,139$171,594$204,425$299,375$373,113$375,316
Grants payable$0$0$0$0$0$0$0$0
Deferred revenue$155,676$155,676$24,593$23,654$22,718$115,506$110,558$105,661
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0$0
Mortgages and other notes payable$0$0$0$0$0$0$0$0
Other liabilities$0$0$0$0$0$0$0$0
Total liabilities and net assets/fund balances$25,033,367$26,460,130$27,370,592$29,291,704$29,168,627$37,493,713$44,305,757$42,820,803
Total net assets or fund balances$24,600,446$25,942,509$27,240,860$29,096,456$28,941,484$37,078,832$43,822,086$42,339,826
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$11,204,519$0$1,029,101$2,651,724$3,278,240$10,800,372$10,529,745$5,434,456
Total revenue, gains, and other support per audited financial statements$5,735,060$0$2,728,439$5,309,753$3,155,411$11,502,924$10,089,134$1,833,352
Other expenses$-5,469,459$0$1,699,338$2,765,601$-3,586$878,664$293,922$0
Net unrealized gains on investments$-5,469,459$0$1,699,338$2,765,601$-3,586$878,664$0$0
Donated services and use of facilities$0$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$293,922$0
Other revenue$0$0$0$107,572$119,243$176,112$146,689$3,601,104
Investment expenses$0$0$0$107,572$119,243$176,112$146,689$142,687
Other$0$0$0$0$0$0$0$3,458,417
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$2,153,950$0$7,242,165$3,561,729$3,429,626$3,541,688$3,492,569$3,458,299
Total expenses and losses per audited financial statements$2,153,950$0$7,242,165$3,454,157$3,310,383$3,365,576$3,345,880$3,315,612
Other revenue$0$0$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Other expenses$0$0$0$107,572$119,243$176,112$146,689$142,687
Investment expenses$0$0$0$107,572$119,243$176,112$146,689$142,687
Other$0$0$0$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings24
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?Yes
Does the organization have a written conflict of interest policy?No
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20060
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$1,621,720$683,122
Program service revenue
Program service revenue 1000000$000$0$0
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$87,878$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$1,444,662$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$89,180$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$683,122
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization operated for the benefit of a college or university
Support Schedule
19992000200120022003200420052006
Total$2,473,863$3,221,536$1,343,403$4,888,161$3,927,781$3,322,594$4,392,020$8,085,586
Gifts, grants, and contributions received$2,378,291$1,925,725$961,442$3,841,325$2,910,346$2,196,483$2,863,046$5,861,081
Membership fees received$0$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$105,319$810,385$93,866$499,675$402,813$448,932$617,740$1,266,215
Net income from unrelated business activities not included above$0$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$485,426$288,095$547,161$614,622$677,179$911,234$958,290
Other income$-9,747$0$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Michigan State University Foundation2727 Alliance Drive, Lansing, MI 48910-3868MI1991-05$171,354,286
2Western Michigan University Foundation1903 W Michigan Ave Seibert Admin, Kalamazoo, MI 49008MI1976-11$80,187,230
3Michigan Tech Fund1400 Townsend Dr, Houghton, MI 49931-1200MI1955-07$58,233,871
4Saginaw Valley State University Foundation7400 Bay Road, University Center, MI 48710-0001MI1964-02$16,323,850
5Grand Rapids Community College Foundation143 Bostwick Ave Ne, Grand Rapids, MI 49503-3201MI1965-05$12,723,553
6Gerald R Ford Foundation303 Pearl St Nw, Grand Rapids, MI 49504-5343MI1981-07$7,485,691
7Jackson Community College Foundation3000 Blake Rd, Jackson, MI 49201-7715MI1983-10$825,268
8Calvin Christian School Education Foundation3750 Ivanrest Ave Sw, Grandville, MI 49418-2089MI1984-10$461,725
9Mecosta County Medical Center Foundation605 Oak St, Big Rapids, MI 49307-2048MI1998-03$411,720
10Midland Christian School Association503 Crescent Dr, Midland, MI 48640-3432MI1974-07$323,633
11Friends Of Imagine International Academy Of North Texas5100 W Eldorado Parkway Ste 102-589, Mckinney, TX 75070TX2009-09$7,669,453
12Royal Arch Research Assistance IncPO BOX 128, Greenfield, IN 46140-0128IN1975-02$3,764,269
13University Metro Town Center Endowment Inc9201 University City Blvd, Charlotte, NC 28223-0001NC1982-11$1,563,501
14Fond Du Lac Area Catholic Education Foundation Inc255 County Road K, Fond Du Lac, WI 54937-8162WI2001-05$978,222
15Auld Public Library Foundation537 N Webster St, Red Cloud, NE 68970-2421NE1999-12$643,901
16Round Top Library Association IncPO BOX 245, Round Top, TX 78954-0245TX1999-10$221,005
17Uu World Of Children1135 State Park Rd, Greenville, SC 29609-1518SC2007-04$215,918
18Gandhi Medical College Global Alliance Inc540 Morningside Drive, Crown Point, IN 46307IN2006-04$149,058
19Rockenbaugh Elementary School Parent Teacher Organization700 Chaucer Ct, Southlake, TX 76092-8926TX1999-02$120,008
20Dewitt High School Panthers Football Touchdown ClubPO BOX 348, Dewitt, MI 48820-0348MI2008-08$63,681
Number of organizations performing similar types of work
Alaska1
Alabama13
Arkansas8
Arizona5
California78
Colorado11
Connecticut7
District of Columbia6
Delaware5
Florida38
Georgia18
Hawaii2
Iowa15
Idaho6
Illinois33
Indiana13
Kansas16
Kentucky17
Louisiana12
Massachusetts19
Maryland10
Maine2
Michigan15
Minnesota17
Missouri7
Mississippi4
Montana5
North Carolina30
North Dakota4
Nebraska5
New Hampshire2
New Jersey12
New Mexico6
Nevada2
New York42
Ohio32
Oklahoma11
Oregon7
Pennsylvania19
Rhode Island6
South Carolina8
South Dakota2
Tennessee8
Texas52
Utah4
Virginia29
Washington10
Wisconsin15
West Virginia6
Wyoming2
International4
Total701

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