2024-05-15T07:47:35-05:00 2023-06-30 450250958 Eide Bailly LLP 800 Nicollet Mall Ste 1300 Minneapolis MN 554027033 990 2022-07-01 911019819 Eastern Washington University Foundation EAST 5093596890 102 Hargreaves Hall Cheney WA 99004 Barb Richey Executive Director 5093596890 2024-05-14 1 Barb Richey 999009999 1 Deb Nelson CPA P01264758 6122536500 2024-05-13 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z Barb Richey 102 Hargreaves Hall Cheney WA 99004 7639648 0 X www.ewu.edu/foundation X 1977 WA To raise and manage resources in support of Eastern Washington University. 18 18 0 75 0 0 5022620 5924872 0 22012 1098860 1131486 398359 545875 6519839 7624245 2500689 4676449 0 0 0 0 85215 79575 315972 959056 891062 3544960 5647086 2974879 1977159 52356011 55979799 4652936 4018153 47703075 51961646 X The Eastern Washington University Foundation, a non-profit corporation, was established in 1977 under Washington law to identify, promote, receive, and manage all private gifts from individuals, corporations, foundations, and associations to Eastern Washington University. The Foundation is the catalyst and conduit through which gifts and endowment income flow to provide immediate and long-term support for the university and its programs. thus, the Foundation is a tool through which private support is raised and managed for the sole benefit of EWU.Overseen by a Board of Directors and staffed by a professional development team who are university employees, the Foundation administers all gifts in a business-like manner in accordance with the donor's wishes. When gifts are received by EWU colleges or operating units, they are forwarded for gift processing and official acceptance and acknowledgement by the Foundation. 0 0 2593957 2593957 Supporting the UniversityEWU is state-assisted rather than state-supported with approximately 30 percent of Eastern's operation budget being provided by state appropriations. Focused on developing the university of the future-one that anticipates student expectations as well as the needs of the 21st century professional workforce-the EWU Foundation rigorously fundraises to account for a decline in state support. By working to build permanent endowments and future generations of benefactors, the EWU Foundation is taking steps to ensure that students and programs will receive necessary financial support long into the future. 2027992 2027992 Supporting StudentsFinancial assistance unlocks enormous potential by helping Eastern Washington University students graduate and enter the professional workforce. The EWU Foundation awarded 735 scholarships in 2023. With this support, students can focus on their studies, progress more quickly to their degrees and graduate debt-free or with greatly reduced debt. 54500 54500 22012 Supporting FacultyThe EWU Foundation is committed to supporting faculty and staff proposals that will enhance the university and its mission to provide opportunities for student development, research, and participation. The EWU Foundation awards funds through the Eagle Grants Program. Those funds made learning and development programs possible in disciplines across campus, serving students at the highest level of excellence. 4676449 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 1 0 1 0 0 0 0 0 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 1 84 0 1 0 0 0 0 0 0 1 1 0 0 0 0 0 0 X 18 18 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 1 1 0 OR CA AK SC FL MN GA X X X John Drexel 5093596890 102 Hargreaves Hall Cheney WA 99004 Alexis Alexander Chair 2.00 X X 0 0 0 Stu Steiner Vice-Chair 1.00 X X 0 0 0 Sean Hoagland Treasurer 1.00 X X 0 0 0 Richard Marll Secretary 1.00 X X 0 0 0 Robert Dietz Director 1.00 X 0 0 0 Curtis Griffin Director 1.00 X 0 0 0 Marc Hughes Director 1.00 X 0 0 0 Claudette Kenmir Director 1.00 X 0 0 0 Jay Kirkpatrick Director 1.00 X 0 0 0 Richard Mount Director 1.00 X 0 0 0 Jeff Stannard Director 1.00 X 0 0 0 Vin Vu Director 1.00 X 0 0 0 Karen Weis Director 1.00 X 0 0 0 Brett Wright Director 1.00 X 0 0 0 Stacy Rasmussen Alumni Associate Representative 0.30 X 0 0 0 Dick Donley Retirees Association Representative 0.30 X 0 0 0 Lucas Fyre ASEWU President Representative 0.30 X 0 0 0 Wade Romine ASEWU University Advancement Council Representativ 0.30 X 0 0 0 Barb Richey Executive Director 20.00 X 223846 0 48548 John Drexel Chief Budget Officer 34.00 X 96415 0 30416 Laura Thayer AVP Philanthropy 38.00 X 124272 0 35335 Lance Kissler AVP Communications 25.00 X 131358 0 33705 575891 0 148004 0 0 1 1 0 13230 5911642 346197 5924872 22012 22012 22012 1012360 1012360 551057 551057 99126 20000 0 0 99126 20000 119126 119126 10221 13230 15403 -5182 -5182 7624245 22012 0 1677361 4676449 4676449 23325 23325 79575 79575 148852 148852 106074 106074 59667 59667 154555 23430 131125 136023 136023 4770 4770 86110 86110 3654 3654 17829 17829 Bad Debt 80360 80360 Meals & Entertainment 38405 38405 Bank Fees 28452 28452 Dues & Memberships 556 556 2430 2430 5647086 4676449 654665 315972 X 7824267 7134799 2263465 5064561 10347325 8481391 53103 44272 12485 8831 28844518 31751270 3063951 3538947 52356011 55979799 9827 95184 4182075 3500000 461034 422969 4652936 4018153 X 962720 1183001 46740355 50778645 47703075 51961646 52356011 55979799 X 1977159 2115209 166203 X 0 1 X 1 0 X 9595039 3752572 6102429 5022620 5924872 30397532 1446603 1728120 1693036 1543044 1877674 8288477 11041642 5480692 7795465 6565664 7802546 38686009 5923129 32762880 1088342 1139461 669993 1211364 1563417 5672577 12707 13336 26043 44384629 22012 0.73820 0.75750 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 245442 X X X X 0 29131665 1654389 2436613 1153889 32068778 33180438 1703326 -4708479 1043620 29131665 24093746 3094343 6909515 917166 33180438 23513603 806782 645944 872583 24093746 22170416 638448 1473227 768488 23513603 0.00440 0.79510 0.20050 0 0 53103 44272 8831 8831 Art Collection 245442 Beneficial interests in perpetual trusts 2187971 Assets held under split-interest agreements 655797 Beneficial interest in charitable trusts held by others 449737 3538947 Liabilities under split-interest agreements 422969 422969 X 11701387 2281412 1877674 66908 4225994 7475393 148852 148852 7624245 7423543 1877674 47635 1925309 5498234 148852 148852 5647086 Part III, Line 4: To provide a visual art experience of the highest quality to the student body, faculty, and community through exhibition or loan. Part V, Line 4: it is the goal of the foundation to maintain proper stewardship of assets donors have entrusted to the foundation for the benefit of the university, its programs, and its students. Part X, Line 2: Management believes that each entity has appropriate support for any tax positions taken affecting its annual filing requirements, and as such, does not have any uncertain tax positions that are material to the financial statements. The Foundation would recognize future accrued interest and penalties related to unrecognized tax benefits and liabilities in income tax expense if such interest and penalties are incurred. Part XI, Line 2d - Other Adjustments: Revenue reported on Alumni Association Return 59,286. Fundraising Expense included in Part VIII 7,622. Part XII, Line 2d - Other Adjustments: Alumni Association Expenses 40,013. Fundraising Expense excluded from Part IX 7,622. X X X 1 Ruffalo Noel Levitz LLC 1025 Kirkwood parkway SW Cedar Rapids IA 52404 Phone, text, email & direct mail solicitation 0 149724 79575 70149 149724 79575 70149 AL AK AZ AR CA CO CT DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY FB Coaches Golf Tournament 23451 13230 10221 2273 13130 23451 13230 10221 2273 13130 15403 -5182 1 Eastern Washington University 202 Sutton Hall Cheney WA 99004 916000624 GOV 2648457 0 Program Support Eastern Washington University 202 Sutton Hall Cheney WA 99004 916000624 GOV 2027992 0 Scholarship Support 1 0 Part I, Line 2: No funds can be spent without providing an invoice voucher, signed by three different individuals including the Dean or Vice President. The vouchers must state the reason for the expense. These are then compared to the MOU, grant documentation or foundation guidelines by advancement services before being signed off on. Each voucher is approved by the Executive Director of the Foundation. If the funds are sent to Eastern Washington University for spending, they are held and monitored by the grant department. The Foundation works with Eastern Washington University (EWU) to grant scholarships to students who go through an application process and meet eligibility requirements. The Foundation provides the funds to EWU and EWU distributes the funds to the scholarship recipients. X X 1 1 0 0 0 0 0 0 0 0 0 Barb Richey Executive Director 215661 0 0 0 8185 0 22879 0 25669 0 272394 0 0 0 Lance Kissler AVP Communications 131358 0 0 0 0 0 10570 0 23135 0 165063 0 0 0 Laura Thayer AVP Philanthropy 124272 0 0 0 0 0 12790 0 22545 0 159607 0 0 0 John Drexel Chief Budget Officer 96415 0 0 0 0 0 9923 0 20493 0 126831 0 0 0 Part I, Line 1a The Executive Director of the Foundation is given a discretionary fund of $3,000 for uses within the guidelines of the Foundation spending policy. These funds are also shared with each VP unit in the University, each college and department. They receive $500 in discretionary funds. A membership to the Spokane Club is paid for by the Foundation and used for meeting rooms for committee meetings and a central location to meet donors in Spokane. Part I, Line 1b The Foundation spending guidelines and the Eastern Washington University employment contract are followed. Part I, Line 3 The Executive Director receives compensation from an unrelated organization for services provided to the Foundation. The Foundation relies on the unrelated organization to determine compensation. Amounts on Part II reflect calendar year reportable compensation and benefits. X 6 Donor Value X 5 124726 Fair Value X Technology 8 186984 Donor Value X Various 3 23308 Donor Value X Auction Gifts 9 11173 Donor Value 0 0 1 0 Part I, Column (b): All amounts reported on Part 1, Column b refer to the number of contributions made Form 990, Part VI, Section A, line 8b The Audit Committee can act on behalf of the Board of Directors to approve the audited financial statements. The Finance Committee can act on behalf of the Board of Directors for approval of large gifts and the Form 990. There are no committees with broad authority to act on behalf of the governing body. Form 990, Part VI, Section B, line 11b The Form 990 will be reviewed by the Finance Committee and Board of Directors before filing. Form 990, Part VI, Section B, line 12c All Board of Directors are required to sign the conflict of interest policy every year. All conflicts are made at the individual level and reviewed by the Board Chair and Executive Director. If conflicts arise, the individual is asked to refrain from participating in the discussion and vote. Depending on the conflict, they may be requested to leave the room during discussions. Form 990, Part VI, Section B, line 15 The Executive Director, AVP Communications, AVP Philanthropy, and Chief Budget officer are employees of Eastern Washington University, an unrelated organization. The officers are paid wages and benefits for services provided to the Foundation. All compensation is based upon Washington state rules and regulations since all employees are state employees. Form 990, Part VI, Section C, line 19 Eastern Washington University Foundations makes it's governing documents, conflict of interest policy, and financial statements available to the public via its website. Form 990, Part X, Line 18: During the 2018 fiscal year, the Foundation received a promise to give from two donors totaling $5,000,000. In response to this, the Foundation has promised a $5,000,000 support payment to the University. The promise to pay will be paid over 10 years. The funds will be used by the University for other educational purposes in the state-of-the-art catalyst building. The remaining balance payable at the end of the tax year is $3,500,000. Form 990, Part XI, line 9: Change in value of split-interest agreements held by the Foundation 83,983. Change in value of beneficial interests in assets held by others 82,220. Charitable Remainder Trusts (4) Investments WA EWU FOundation 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 1