Idaho State University Foundation

What it reported doing in 2024

The Idaho State University Foundation, Inc. (the Foundation) was formed in March 1967. The Foundation is a not-for-profit corporation incorporated in accordance with the laws of the State of Idaho and is managed by a volunteer Board of Directors. Under the Idaho State Board of Education's administrative rules the Foundation must be independent of, and cannot be controlled by, Idaho State University (the University). Operating and services agreements between the Foundation and the University define the relationship between the two entities in accordance with the State Board of Education's rules. The mission of the Foundation is accomplished by focusing on two primary service areas. (Continued on Schedule O)Academic, development and program support: The Foundation supports private individuals and organizations in contributing to the University programs and projects that are meaningful to the donor and important to the University. The Foundation provides assurance that contributions will be received, distributed and used in the manner the donor intended. The donated resources provide additional opportunities for students and promote a degree of institutional excellence unavailable with state funding levels.Endowment and private resource management: The Foundation manages the endowment and other privately donated funds received for the benefit of the University and its programs. Management of these resources includes selection of investment advisors, establishing investment targets and allocations, enhancing returns invested funds and managing cash flows to meet the spending needs of the University from endowment and other funds.

Financial Efficiency

• Mission deployment rate: 85.6%; rating input score 86
• Program expense ratio: 82.6%; rating input score 83
• Fundraising efficiency: $17.81 raised per $1 spent on fundraising; rating input score 54; 54th 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: 3.6%; rating input score 49; 49th percentile among comparable filings
• Total-asset coverage ratio: 6.33; rating input score 87; 87th percentile among comparable filings
• Liabilities to assets ratio: 0.05; rating input score 83; 83rd percentile among comparable filings
• Officer compensation ratio: 0.2%; rating input score 91; 91st percentile among comparable filings

Growth

• Program expense growth: 12.5% per year; rating input score 100; 78th percentile among comparable filings
• Revenue growth: 11% per year; rating input score 100; 77th percentile among comparable filings
• Asset growth: 8.3% per year; rating input score 100; 56th percentile among comparable filings