Ball State University Foundation

Legal name: Ball State University Foundation Inc

Nonprofit profile at a glance

EIN
356024566
IRS 990 coverage
2009–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024, Form 990-T 2024
Location
Muncie, IN, US
Phone
800-382-8540
Rating
83
Verdict
STRONG
Rating confidence
Standard
Sector
Single Organization Support

Official website

Reported finances

Revenue
$30,232,984
Expenses
$37,729,015
Assets
$438,758,562
Liabilities
$15,968,377

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

48 people listed

Executive titles in this filing

  • JEAN KRAMER CROSBY (PRESIDENT)

Highest reported compensation

  • GEOFFREY MEARNS (EX-OFFICIO VICE CHAIR & PRES.): $680,526 total reported compensation
  • ALAN FINN (VP OF FINANCE & TREASURER (End 02/25)): $346,699 total reported compensation
  • JEAN KRAMER CROSBY (PRESIDENT): $340,338 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To support Ball State University by securing and managing private gifts that advance the university's mission of education, research, and service.

What it reported doing in 2024

Support is provided to ball state university in the following areas academic programs, advancement and development, faculty support, research, faculty and student recruitment, public service, external relationships, artwork, library materials, and athletics. These programs serve to enhance the educational experience.

Operating model

Revenue model
Donor-supported. 81% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 93% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 88
  • Accountability: 89
  • Sustainability: 44
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.9%; rating input score 93
  • Program expense ratio: 73.5%; rating input score 74
  • Fundraising efficiency: $6.08 raised per $1 spent on fundraising; rating input score 25; 25th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 89.2%; rating input score 89; 22nd percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -24.8%; rating input score 4; 4th percentile among comparable filings
  • Total-asset coverage ratio: 11.63; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 86; 86th percentile among comparable filings
  • Officer compensation ratio: 5.7%; rating input score 45; 45th percentile among comparable filings

Growth

  • Program expense growth: 3.4% per year; rating input score 100; 29th percentile among comparable filings
  • Revenue growth: 5.8% per year; rating input score 100; 50th percentile among comparable filings
  • Asset growth: 5.5% per year; rating input score 100; 39th percentile among comparable filings

Details

  • What they do: 1 operating location identified
  • Where the money goes: 92.9% of revenue deployed · 73.5% of spending went to programs
  • Governance: 33 of 37 board members independent · 8 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $27.7M in reported program spending
  • Leadership: top reported pay $681K · 48 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 3 contractors listed · $1.5M reported
  • Consistency: 40 of 40 current checks pass
  • Schedules: 10 filed schedules · includes major donors, grants, executive pay, and related organizations
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 13 filed money-flow records
  • Related organizations: 6 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Fundraising efficiency scored 25/100.
  • High — Sustainability: Operating margin scored 4/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 45/100.