Overview
What is Midwestern State University Foundation Inc?
Midwestern State University Foundation Inc is a charitable organization, headquartered in Wichita Falls, Texas. The primary purpose of this nonprofit is to support the educational pursuits of Midwestern State University, a renowned institution of higher learning. They accomplish this by accepting donations, gifts, and bequests, and subsequently utilizing these funds to bolster the university's literary, scientific, and overall educational ventures. The organization's mission is to award scholarships to eligible students, based on both their academic merit and financial need, thereby fostering access to quality education.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 90% (Four-Star out of Four Stars)
Midwestern State University Foundation Inc has received a commendable Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The overall rating is based entirely on accountability and finance metrics, highlighting the organization's commitment to transparency and effective financial management.
The foundation demonstrates exceptional governance with a fully independent board and robust auditing practices, including no material diversions of assets. Its program expense ratio of 76.56% indicates that a significant portion of its funds is dedicated to its programs, while its impressive fundraising efficiency ratio suggests successful fundraising efforts that do not incur additional costs.
However, while the financial health indicators such as a liabilities to assets ratio of 0.00% and a working capital ratio of 33.09 years are strong, the data does not provide information on qualitative aspects like program impact or community feedback. Overall, Midwestern State University Foundation Inc stands out for its financial accountability and effective use of resources.
This AI summary has been generated from information found on Charity Navigator.
Is Midwestern State University Foundation Inc legitimate?
Midwestern State University Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Midwestern State University Foundation Inc 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:
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What is the mission statement of Midwestern State University Foundation Inc?
The Midwestern State University Foundation Inc's mission is centered around receiving donations, gifts, and bequests with the intention of advancing the educational pursuits of Midwestern State University, a tax-exempt institution of higher learning. They aim to use these funds to support various literary, scientific, and educational endeavors. In addition, the foundation awards scholarships to deserving students based on both merit and financial need.
Who is the CEO of Midwestern State University Foundation Inc?
Stephen Gustafson is the Chairman of Midwestern State University Foundation Inc.
What is the revenue of Midwestern State University Foundation Inc?
Midwestern State University Foundation Inc's revenue in 2022 was $4,712,410.
Who are the executives of Midwestern State University Foundation Inc and what are their salaries?
Here are 12 key members and their salaries:
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Where can I find the form 990 for Midwestern State University Foundation Inc?
Midwestern State University Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Midwestern State University Foundation Inc
Midwestern State University Foundation Inc is committed to receiving contributions in the form of donations, gifts, and bequests. Their primary objective is to utilize these funds for the betterment of Midwestern State University, an esteemed institution of higher learning that is exempt from taxation. This nonprofit organization's mission is centered around advancing the literary, scientific, and other educational pursuits at Midwestern State University. By channeling these contributions towards educational endeavors, Midwestern State University Foundation Inc plays a pivotal role in supporting the growth and development of the university and its students.
In addition to receiving and allocating funds, Midwestern State University Foundation Inc also awards scholarships to qualified students. These scholarships are granted on the basis of both need and merit, which means that deserving students with financial constraints and outstanding academic achievements are given the opportunity to further their education. By offering scholarships, Midwestern State University Foundation Inc is not only supporting the university's educational mission but also empowering talented individuals who may otherwise be unable to pursue their academic goals. This commitment to student success is a testament to the organization's dedication to the advancement of Midwestern State University and its community.
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Impact
July, 2024
Midwestern State University Foundation Inc plays a significant role in supporting the advancement of educational endeavors at Midwestern State University in Wichita Falls, TX. Through receiving contributions in the form of donations, gifts, and bequests, the foundation is able to award scholarships to qualified students based on both need and merit. This support directly impacts students by providing them with financial assistance to pursue their academic goals. By promoting education and helping students access higher learning opportunities, Midwestern State University Foundation Inc contributes to the growth and development of individuals and the community as a whole.
This information is meant to be a general summary of Midwestern State University Foundation Inc. 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: $3,728,325
- Gross Receipts: $18,491,541
Assets and Liabilities:
- Total Assets: $64,205,017
- Total Liabilities: $9,172
- Net Assets: $64,195,845
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Organization Details
Founding Year
1960
Phone
(940) 322-4436Principal Officer
Stephen Gustafson
Main Address
807 8th Street 2nd Floor, Wichita Falls, TX, 763013381
NTEE Category
Code: B43 - Education
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