Morehead State University Foundation Inc

Nonprofit profile at a glance

EIN
311003236
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Morehead, KY, USA
Phone
6067832599
Rating
81
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$12,815,744
Expenses
$6,752,177
Assets
$91,976,128
Liabilities
$12,577,591

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

Leadership & pay

29 people listed

Executive titles in this filing

  • MR RICK HESTERBERG (FOUNDATION, CEO (PARTIAL YEAR))
  • MS ALLISON CAUDILL (FOUNDATION, CEO (PARTIAL YEAR))

People named in this filing

  • MR RICK HESTERBERG (FOUNDATION, CEO (PARTIAL YEAR))
  • MS ALLISON CAUDILL (FOUNDATION, CEO (PARTIAL YEAR))
  • MR PERRY ALLEN (BOARD CHAIR)

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 provide margin of excellence opportunity funding to morehead state university in an effort to assist msu in reaching its established goals. The mission of morehead foundation is to prudently administer all assets of the foundation and/or morehead state university as provided by federal and state law and regulation and through fiduciary responsibility between the university and the foundation, to promote educational purposes in connection with or at the request of the university by encouraging, sponsoring and supporting institutional priorities, to provide advice, consultation and support to the president and the board of regents of morehead state university, and to provide volunteer leadership to morehead state university's fund raising programs and to assist other institutional advancement efforts.

What it reported doing in 2024

Endowment fund - provided support to morehead state university for professorships, chairs, and research projects.

Operating model

Revenue model
Donor-supported. 73% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 90% 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 the filed numbers largely add up. The filing reports few safeguards for money sent abroad and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 75
  • Accountability: 82
  • Sustainability: 90
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.4%; rating input score 81
  • Program expense ratio: 86.1%; rating input score 86
  • Fundraising efficiency: $33.74 raised per $1 spent on fundraising; rating input score 69; 69th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • 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: 4 of 7 controls in place; rating input score 57
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 47.3%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 13.62; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0.14; rating input score 68; 68th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 96; 96th percentile among comparable filings

Growth

  • Program expense growth: 3.1% per year; rating input score 100; 26th percentile among comparable filings
  • Revenue growth: 3.9% per year; rating input score 100; 33rd percentile among comparable filings
  • Asset growth: 6.3% per year; rating input score 100; 44th percentile among comparable filings

Details

  • Where the money goes: 81.4% of revenue deployed · 86.1% of spending went to programs
  • Governance: 26 of 26 board members independent · 4 of 7 filing controls reported
  • Programs: 4 filed program accomplishments · $5.8M in reported program spending
  • Leadership: top reported pay $0 · 29 people listed
  • Consistency: 32 of 32 current checks pass
  • Schedules: 8 filed schedules · includes major donors, foreign activity, and grants
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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: Foreign activity oversight scored 0/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.