Cleveland State University Foundation

What it reported doing in 2024

In fiscal year 2025 the foundation received $14.9 million in new gifts and pledges, including $7 million for scholarships. Gifts received by the foundation fall into two basic categories; restricted and unrestricted. Unrestricted gifts may be used for university priorities, programs and services not supported by state funds, endowment income, or other sources. Most gifts received are restricted for specific purposes as directed by the donors, the foundation, and the university. For example, restricted gifts can be directed to a specified academic department, scholarship, etc. Whether restricted or unrestricted, annual gifts are usually spent within the year they are received. Endowment funds are pooled with other gifts and invested. Under the direction of the foundation's investment committee, endowments are invested by professional fund managers for maximum yield with minimum risk. Endowment funds support general university operations, all nine academic colleges, the school of nursing, athletics, and the library.at csu, 30% of students are from underrepresented minority populations and more than 40% of undergraduates are the first in their families to attend college. More than half of undergraduates receiving federal aid qualify for the maximum amount and 88% of first-time, full-time freshmen rely on financial assistance.the cleveland state university foundation (csuf) is a non-profit organization incorporated under the laws of the state of Ohio and tax-exempt under section 501(c)(3) of the internal revenue code. An outright gift to the csuf is a fully tax-deductible charitabledonation. The csuf does not receive public funds, such as state and federal grants.state of Ohio appropriations help fund the university's basic operations. Other sources of revenue, such as student fees and auxiliary services, help meet basic operating costs not covered by state funding. Private support, generated through gifts to the csuf, provides the university a margin of excellence by creating students and faculty resource opportunities from private fundraising that would otherwise not be available. The foundation further serves the university by maintaining private fund accounts (endowment and current use) from one fiscal year to the next.the csuf is governed by an independent volunteer board of directors, consisting of no more than 50 directors, and ex-officio directors, including the president of the university. The foundation's financial records are audited annually by independent auditors.

Financial Efficiency

• Mission deployment rate: 80%; rating input score 80
• Program expense ratio: 93.1%; rating input score 93
• Fundraising efficiency: $79.95 raised per $1 spent on fundraising; rating input score 82; 82nd percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
• Pay-setting controls: 0 of 6 controls in place; rating input score 0
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Missing
• Foreign activity oversight: Scored; rating input score 0
• Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
• Governance controls: 7 of 8 controls in place; rating input score 88
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Fail
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 32.4%; rating input score 89; 89th percentile among comparable filings
• Total-asset coverage ratio: 11.22; rating input score 92; 92nd percentile among comparable filings
• Liabilities to assets ratio: 0.07; rating input score 79; 79th percentile among comparable filings
• Officer compensation ratio: 0.2%; rating input score 91; 91st percentile among comparable filings

Growth

• Program expense growth: 2.7% per year; rating input score 100; 24th percentile among comparable filings
• Revenue growth: 4.3% per year; rating input score 100; 38th percentile among comparable filings
• Asset growth: 6.2% per year; rating input score 100; 44th percentile among comparable filings