Minnesota State University Mankato Foundation Inc

Nonprofit profile at a glance

EIN
416033423
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Mankato, MN, USA
Phone
5073895595
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$30,343,857
Expenses
$9,131,149
Assets
$127,735,165
Liabilities
$2,318,155

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

Leadership & pay

31 people listed

Executive titles in this filing

  • AMY M COONEY (EXECUTIVE DIRECTOR AS OF 03/25)

Highest reported compensation

  • HAROLD K STANLEY (FORMER OFFICER THRU 05/24): $200,434 total reported compensation
  • AMY M COONEY (EXECUTIVE DIRECTOR AS OF 03/25): $186,828 total reported compensation
  • RICHARD ORTEGA (INTERIM EXEC. DIRECTOR THRU 03/25): $109,559 total reported compensation

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

Overview

Mission

Minnesota state university, mankato foundation, inc. Is dedicated to securing private gifts and grants to benefit Minnesota state university, mankato. Each year, thousands of generous benefactors make gifts to help students, faculty and programs at this university. The foundation's mission is to enhance the university's ability to achieve its mission by encouraging and stewarding sustained philanthropic support from alumni and friends. The foundation operates with responsible stewardship, integrity, transparency and trust, provides leadership, advocacy and support of the university's strategic priorities, provides support for educational access and for enriching experiences for students, and provides leadership in promoting and engaging donor passion.

What it reported doing in 2024

Our organization invested funds to make possible the transformational experiences that define a Minnesota state university, mankato education. This support spans a diverse array of programs and initiatives including $570,813 to bolster university athletic programs which is fueling student-athlete success; $150,000 to strengthen the center for rural behavioral health by expanding vital services; $105,331 to provide equipment and facilities for athletics, improving training and competition environments; $74,240 fueled the maverick innovation gateway, fostering entrepreneurship and innovation; $68,000 powered the maverick rec n read program, promoting literacy and wellness; $59,406 sustained university auxiliary programs, ensuring operational excellence; $41,543 supported theatre and dance programs, bringing creative expression to campus; $11,698 to enhance facilities for academic programs, creating spaces for learning and discovery; and $8,800 to advance the university's music programs, nurturing artistic talent.from immersive learning in the classroom to leadership roles, community engagement, and global study opportunities, philanthropic support turns potential into achievement. Each grant reflects the organization's dedication to cultivating opportunity, excellence, and community impact across Minnesota state university, mankato.

Operating model

Revenue model
Donor-supported. 93% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 42% for direct work, and 58% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - Most voting board members are independent and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 50
  • Transparency & Controls: 60
  • Accountability: 91
  • Sustainability: 89
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 33.1%; rating input score 33
  • Program expense ratio: 75.3%; rating input score 75
  • Fundraising efficiency: $21.84 raised per $1 spent on fundraising; rating input score 59; 59th 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 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • 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: 69.9%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 13.99; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 90; 90th percentile among comparable filings
  • Officer compensation ratio: 5.4%; rating input score 47; 47th percentile among comparable filings

Growth

  • Program expense growth: 2.6% per year; rating input score 100; 23rd percentile among comparable filings
  • Revenue growth: 9.4% per year; rating input score 100; 71st percentile among comparable filings
  • Asset growth: 7% per year; rating input score 100; 49th percentile among comparable filings

Details

  • Where the money goes: 33.1% of revenue deployed · 75.3% of spending went to programs
  • Governance: 25 of 25 board members independent · 7 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $6.9M in reported program spending
  • Leadership: top reported pay $200K · 31 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 35 of 35 current checks pass
  • Schedules: 9 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 33/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Review — Financial Efficiency: Fundraising efficiency scored 59/100.
  • Moderate — Sustainability: Officer compensation ratio scored 47/100.