Overview
What is Western Michigan University Foundation?
The Western Michigan University Foundation is a charitable organization based in Kalamazoo, Michigan, with the address 1903 W Michigan Ave SEIBERT ADM. Its primary objective is to gather, invest, and manage donations for the benefit of Western Michigan University. The Foundation's mission, adopted in 2018, is to support and promote the university, enabling it to effectively carry out its roles in teaching, research, and service. It accomplishes this mission by maintaining and expanding an endowment fund, which generates additional financial assistance for the university. The Foundation also conducts cost-effective fundraising programs led by the University Advancement Office and manages its resources efficiently while distributing them to priority areas within Western Michigan University. The Foundation is governed by an Executive Director/Secretary, who is also the Vice President for University Advancement, and a volunteer Board of Directors.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 95% (Four-Star out of Four Stars)
The Western Michigan University Foundation has achieved a Four-Star rating from Charity Navigator, reflecting its strong commitment to accountability and finance. The organization scored exceptionally well across various metrics, particularly with an impressive Accountability & Finance score of 95%. This high rating indicates effective management and transparency in financial practices, reassuring stakeholders of the foundation's fiscal responsibility.
Strengths noted include a majority independent board, with 88% of its members being independent, and a robust audit and oversight committee. The foundation has demonstrated excellent financial health, with a liabilities to assets ratio of 0.00% and a program expense ratio of 90.27%, signifying that a significant portion of donations is directed towards its programs rather than administrative costs. Fundraising efficiency is also commendable, with an impressive ratio of $0.01 spent for fundraising, indicating effective use of resources.
There are no significant limitations or concerns identified in the feedback. The foundation has established a comprehensive set of policies, including conflict of interest and whistleblower policies, which enhance its integrity. Overall, the Western Michigan University Foundation exemplifies a well-managed nonprofit with a clear focus on maximizing its impact through prudent financial practices.
This AI summary has been generated from information found on Charity Navigator.
Is Western Michigan University Foundation legitimate?
Western Michigan University Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Western Michigan University Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Western Michigan University Foundation?
The Western Michigan University Foundation's mission is to enhance and support Western Michigan University's ability to fulfill its mission of teaching, research, and service. This is accomplished through maintaining and growing an endowment fund, which supplies supplemental financial assistance for current needs. The foundation uses cost-effective fundraising programs overseen by the University Advancement Office to engage various constituents. Prudent and responsible administration of assets is also crucial. The foundation's resources are distributed to areas of priority within the university. The Western Michigan University Foundation is administered by the Executive Director/Secretary, who is also the Vice President for University Advancement, and a volunteer Board of Directors.
Who is the CEO of Western Michigan University Foundation?
Stephen K Parker is the President of Western Michigan University Foundation.
What is the revenue of Western Michigan University Foundation?
Western Michigan University Foundation's revenue in 2022 was $103,674,460.
Who are the executives of Western Michigan University Foundation and what are their salaries?
There 21 volunteers at Western Michigan University Foundation.
Here are 28 key members and their salaries:
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- Other: $70,419
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Where can I find the form 990 for Western Michigan University Foundation?
Western Michigan University Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Western Michigan University Foundation
The Western Michigan University Foundation plays a vital role in supporting its namesake institution by promoting and enhancing its endowment fund. Adopted in 2018, the Foundation's mission statement is geared towards facilitating Western Michigan University's mission of teaching, research, and service. It achieves this goal by maintaining and expanding the endowment fund, the income from which provides supplementary financial assistance for current demands.
Beyond the endowment fund, the Western Michigan University Foundation engages in cost-effective fund-raising programs, overseen by the University Advancement Office, to solicit participation from various Western Michigan University constituents. The Foundation also administers the assets entrusted to it responsibly and distributes its resources to priority areas within the University.
The Western Michigan University Foundation is led by an Executive Director/Secretary, who also serves as the Vice President for University Advancement, and a volunteer Board of Directors who oversee its operations. By maintaining and enlarging the endowment fund, as well as executing effective fund-raising programs and administering resources wisely, the Western Michigan University Foundation contributes significantly to the University's ability to thrive and excel in its academic pursuits.
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Impact
October, 2024
The Western Michigan University Foundation plays a crucial role in supporting the university's mission of teaching, research, and service. By maintaining and enhancing an endowment fund, the foundation solicits, collects, and invests donations to benefit the university. This enables the university to address current demands and priorities effectively.
Through cost-effective fundraising programs, conducted by the University Advancement Office, the foundation engages various constituents from the university community, fostering a sense of participation and investment in WMU's future. The foundation is committed to the prudent and responsible administration of the assets it manages, ensuring that the resources are effectively distributed to areas of priority within the university.
Ultimately, the Western Michigan University Foundation's impact lies in its ability to provide supplemental financial assistance and support for the university's objectives and goals, helping to enhance the overall educational experience and institutional effectiveness for students and faculty alike.
This information is meant to be a general summary of Western Michigan University Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $52,377,377
- Gross Receipts: $419,709,763
Assets and Liabilities:
- Total Assets: $1,004,803,081
- Total Liabilities: $7,045
- Net Assets: $1,004,796,036
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Organization Details
Founding Year
1976
Phone
(269) 387-2365Principal Officer
Stephen K Parker
Main Address
1903 W MICHIGAN AVE SEIBERT ADM, KALAMAZOO, MI, 49008
NTEE Category
Code: B110 - Education
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