Indiana State University Foundation Inc

Nonprofit profile at a glance

EIN
356045550
IRS 990 coverage
2011–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Terre Haute, IN, USA
Phone
8122376100
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$19,425,902
Expenses
$15,553,362
Assets
$164,173,105
Liabilities
$8,407,319

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

Leadership & pay

36 people listed

Executive titles in this filing

  • Andrea Angel (CEO)
  • Michael Godard (President, ISU)

Highest reported compensation

  • Andrea Angel (CEO): $256,817 total reported compensation
  • Jeremiah Turner (Assc VP Univ Advancement): $153,146 total reported compensation
  • Kenneth Menefee (Planned/Principal gifts ex dir): $142,133 total reported compensation

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

Overview

Mission

The foundation's mission is to secure and preserve private resources for the betterment of Indiana state university and its students, while providing donors with opportunities to witness and experience the results of their philanthropy.

What it reported doing in 2024

Restricted and designated expenditures - gifts received for specified purposes and expended for these purposes which provide support to educational and athletic programs including the bailey college of engineering and technology, college of arts and sciences, scott college of business, bayh college of education, and college of health and human services.

Operating model

Revenue model
Donor-supported. 68% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 99% 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 most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 61
  • Accountability: 98
  • Sustainability: 86
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 86.5%; rating input score 87
  • Program expense ratio: 88.4%; rating input score 88
  • Fundraising efficiency: $35.69 raised per $1 spent on fundraising; rating input score 70; 70th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.7%; rating input score 95; 24th 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: 96.9%; rating input score 97; 31st percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 19.9%; rating input score 82; 82nd percentile among comparable filings
  • Total-asset coverage ratio: 10.56; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 83; 83rd percentile among comparable filings
  • Officer compensation ratio: 0.7%; rating input score 88; 88th percentile among comparable filings

Growth

  • Program expense growth: 7.9% per year; rating input score 100; 61st percentile among comparable filings
  • Revenue growth: 6% per year; rating input score 100; 52nd percentile among comparable filings
  • Asset growth: 7.5% per year; rating input score 100; 52nd percentile among comparable filings

Details

  • Where the money goes: 86.5% of revenue deployed · 88.4% of spending went to programs
  • Governance: 31 of 32 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $13.8M in reported program spending
  • Leadership: top reported pay $257K · 36 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $452K reported
  • Consistency: 37 of 37 current checks pass
  • Schedules: 10 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.