Midwestern State University Foundation Inc

Nonprofit profile at a glance

EIN
751101337
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Wichita Falls, TX, USA
Phone
9403224436
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
University or Technological Institute

Reported finances

Revenue
$8,608,415
Expenses
$4,008,315
Assets
$85,137,475
Liabilities
$0

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

Leadership & pay

17 people listed

People named in this filing

  • Kevin O'Connell (Chairman)
  • Anthony Inman (Vice Chairman)
  • David Welch (Treasurer)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

To receive contributions by means of donations, gifts, and bequests and to expend such funds for the advancement of the literary, scientific, and other educational endeavors of Midwestern State University, a tax exempt institution of higher learning.

What it reported doing in 2024

Awarding scholarships to qualified students on the basis of need and merit.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 94
  • Accountability: 88
  • Sustainability: 94
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 78%; rating input score 78
  • Program expense ratio: 79.1%; rating input score 79
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • 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: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • 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: 53.4%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 21.24; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 22.5% per year; rating input score 100; 88th percentile among comparable filings
  • Revenue growth: 31.1% per year; rating input score 100; 94th percentile among comparable filings
  • Asset growth: 20.2% per year; rating input score 100; 84th percentile among comparable filings

Details

  • Where the money goes: 78% of revenue deployed · 79.1% of spending went to programs
  • Governance: 17 of 17 board members independent · 5 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $3.2M in reported program spending
  • Leadership: top reported pay $0 · 17 people listed
  • Highest-paid contractors: 2 contractors listed · $337K reported
  • Consistency: 21 of 21 current checks pass
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 3 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.

  • Review — Accountability: Governance controls: 2 of 7 not reported.