Western Michigan University Foundation

Nonprofit profile at a glance

EIN
382138856
IRS 990 coverage
2018–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Kalamazoo, MI, USA
Phone
2693872365
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$102,305,196
Expenses
$104,127,120
Assets
$1,087,565,746
Liabilities
$7,211

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

Leadership & pay

29 people listed

Executive titles in this filing

  • LARRY LUETH (PRESIDENT)

Highest reported compensation

  • EDWARD B MONTGOMERY (DESIGNATED D): $661,703 total reported compensation
  • KRISTEN R DEVRIES (SECRETARY (P): $388,350 total reported compensation
  • JANICE J VAN DER KLEY (TREASURER): $375,036 total reported compensation

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

Overview

Mission

Mission statement (adopted 2018) the mission of the western Michigan university foundation is to promote and support western Michigan university so that it can effectively carry out its mission of teaching, research and service. The foundation accomplishes its mission by maintaining and enlarging an endowment fund, the income from which provides supplemental financial assistance for current demands. The foundation also fulfills its mission through: cost-effective fund-raising programs, conducted by the university advancement office, which seek participation from a variety of western Michigan university constituents; prudent and responsible administration of the assets entrusted to it by its many constituents; and effective distribution of its resources to areas of priority within western Michigan the wmu foundation is administered by the executive director/secretary, who also serves as the vice president for university advancement, and a volunteer board of directors, who oversee how fu

What it reported doing in 2024

The foundation exists for the purpose of soliciting, collecting and investing donations for the benefit of western Michigan university. The foundation provides support for the objectives, goals, and mission of the university.

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 96% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. 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: 89
  • Transparency & Controls: 60
  • Accountability: 88
  • Sustainability: 58
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 91.7%; rating input score 92
  • Fundraising efficiency: $5.91 raised per $1 spent on fundraising; rating input score 26; 26th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th 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; 77th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 87.5%; rating input score 88; 34th 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: NotApplicable
    • 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: -1.8%; rating input score 20; 20th percentile among comparable filings
  • Total-asset coverage ratio: 10.44; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 98; 98th percentile among comparable filings
  • Officer compensation ratio: 0.3%; rating input score 89; 89th percentile among comparable filings

Growth

  • Program expense growth: 14.4% per year; rating input score 100; 86th percentile among comparable filings
  • Revenue growth: -8.5% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: 13.1% per year; rating input score 100; 81st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 91.7% of spending went to programs
  • Governance: 21 of 24 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $95.5M in reported program spending
  • Leadership: top reported pay $662K · 29 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 9 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 7 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 4 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.
  • High — Financial Efficiency: Fundraising efficiency scored 26/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 20/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.