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        <PersonNm>LISA HYLAND</PersonNm>
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        <PersonNm>ERIC JOHNSON</PersonNm>
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        <PersonNm>ANGELA JUSTICE</PersonNm>
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        <PersonNm>KAMAL KARAM</PersonNm>
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      <Form990PartVIISectionAGrp>
        <PersonNm>BARB KAUS</PersonNm>
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        <PersonNm>TODD KELZENBERG</PersonNm>
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        <PersonNm>CHRISTINE LANTINEN</PersonNm>
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        <PersonNm>SUSAN MICHALETZ</PersonNm>
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        <PersonNm>DANIEL MUNDAHL</PersonNm>
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        <PersonNm>KAREN OBERLE</PersonNm>
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        <PersonNm>MICHELLE SCHOOFF</PersonNm>
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        <PersonNm>JENNIFER SPAUDE</PersonNm>
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        <PersonNm>CHAD TISCHER</PersonNm>
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        <PersonNm>BILL WILTGEN</PersonNm>
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        <PersonNm>JOHN ZAK</PersonNm>
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        <PersonNm>AMY M COONEY</PersonNm>
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        <PersonNm>JIM LUND</PersonNm>
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        <PersonNm>HAROLD K STANLEY</PersonNm>
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        <CurrentTaxYearMinus3YearsAmt>779790</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>898272</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>1422092</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>1651768</CurrentTaxYearAmt>
        <TotalAmt>4999748</TotalAmt>
      </GrossInvestmentIncome170Grp>
      <UnrelatedBusinessNetIncm170Grp>
        <CurrentTaxYearMinus4YearsAmt>24515</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>50100</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>106298</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>34514</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>0</CurrentTaxYearAmt>
        <TotalAmt>215427</TotalAmt>
      </UnrelatedBusinessNetIncm170Grp>
      <OtherIncome170Grp>
        <CurrentTaxYearMinus4YearsAmt>27182</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>45578</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>52151</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>48604</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>148074</CurrentTaxYearAmt>
        <TotalAmt>321589</TotalAmt>
      </OtherIncome170Grp>
      <TotalSupportAmt>74262703</TotalSupportAmt>
      <PublicSupportCY170Pct>0.90630</PublicSupportCY170Pct>
      <PublicSupportPY170Pct>0.90640</PublicSupportPY170Pct>
      <ThirtyThrPctSuprtTestsCY170Ind>X</ThirtyThrPctSuprtTestsCY170Ind>
      <Form990ScheduleAPartVIGrp>
        <FormAndLineReferenceDesc>SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME:</FormAndLineReferenceDesc>
        <ExplanationTxt>MISCELLANEOUS INCOME - 2020 AMOUNT: $ 27,182. 2021 AMOUNT: $ 45,578. 2022 AMOUNT: $ 52,151. 2023 AMOUNT: $ 48,604. 2024 AMOUNT: $ 148,074.</ExplanationTxt>
      </Form990ScheduleAPartVIGrp>
    </IRS990ScheduleA>
    <IRS990ScheduleB documentId="RetDoc1234500001">
      <ContributorInformationGrp>
        <ContributorNum>RESTRICTED</ContributorNum>
        <ContributorBusinessName>
          <BusinessNameLine1>RESTRICTED</BusinessNameLine1>
        </ContributorBusinessName>
        <ContributorUSAddress>
          <AddressLine1>RESTRICTED</AddressLine1>
          <AddressLine2>RESTRICTED</AddressLine2>
          <City>RESTRICTED</City>
          <State>RESTRICTED</State>
          <ZIPCode>RESTRICTED</ZIPCode>
        </ContributorUSAddress>
        <TotalContributionsAmt>RESTRICTED</TotalContributionsAmt>
      </ContributorInformationGrp>
    </IRS990ScheduleB>
    <IRS990ScheduleD documentId="RetDoc1040000001">
      <CYEndwmtFundGrp>
        <BeginningYearBalanceAmt>78232888</BeginningYearBalanceAmt>
        <ContributionsAmt>4977198</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>11187359</InvestmentEarningsOrLossesAmt>
        <GrantsOrScholarshipsAmt>2484744</GrantsOrScholarshipsAmt>
        <AdministrativeExpensesAmt>1191675</AdministrativeExpensesAmt>
        <EndYearBalanceAmt>90721026</EndYearBalanceAmt>
      </CYEndwmtFundGrp>
      <CYMinus1YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>68600003</BeginningYearBalanceAmt>
        <ContributionsAmt>3056144</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>9658398</InvestmentEarningsOrLossesAmt>
        <GrantsOrScholarshipsAmt>2351657</GrantsOrScholarshipsAmt>
        <AdministrativeExpensesAmt>730000</AdministrativeExpensesAmt>
        <EndYearBalanceAmt>78232888</EndYearBalanceAmt>
      </CYMinus1YrEndwmtFundGrp>
      <CYMinus2YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>62165685</BeginningYearBalanceAmt>
        <ContributionsAmt>1872134</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>7532260</InvestmentEarningsOrLossesAmt>
        <GrantsOrScholarshipsAmt>2097751</GrantsOrScholarshipsAmt>
        <AdministrativeExpensesAmt>872325</AdministrativeExpensesAmt>
        <EndYearBalanceAmt>68600003</EndYearBalanceAmt>
      </CYMinus2YrEndwmtFundGrp>
      <CYMinus3YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>71964099</BeginningYearBalanceAmt>
        <ContributionsAmt>2456768</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>-9513960</InvestmentEarningsOrLossesAmt>
        <GrantsOrScholarshipsAmt>1933180</GrantsOrScholarshipsAmt>
        <AdministrativeExpensesAmt>808042</AdministrativeExpensesAmt>
        <EndYearBalanceAmt>62165685</EndYearBalanceAmt>
      </CYMinus3YrEndwmtFundGrp>
      <CYMinus4YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>52881135</BeginningYearBalanceAmt>
        <ContributionsAmt>4726354</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>16980853</InvestmentEarningsOrLossesAmt>
        <GrantsOrScholarshipsAmt>1914243</GrantsOrScholarshipsAmt>
        <AdministrativeExpensesAmt>710000</AdministrativeExpensesAmt>
        <EndYearBalanceAmt>71964099</EndYearBalanceAmt>
      </CYMinus4YrEndwmtFundGrp>
      <BoardDesignatedBalanceEOYPct>0.01345</BoardDesignatedBalanceEOYPct>
      <PrmnntEndowmentBalanceEOYPct>0.96953</PrmnntEndowmentBalanceEOYPct>
      <TermEndowmentBalanceEOYPct>0.01702</TermEndowmentBalanceEOYPct>
      <EndowmentsHeldUnrelatedOrgInd>0</EndowmentsHeldUnrelatedOrgInd>
      <EndowmentsHeldRelatedOrgInd>0</EndowmentsHeldRelatedOrgInd>
      <LandGrp>
        <InvestmentCostOrOtherBasisAmt>1503547</InvestmentCostOrOtherBasisAmt>
        <OtherCostOrOtherBasisAmt>1690000</OtherCostOrOtherBasisAmt>
        <BookValueAmt>3193547</BookValueAmt>
      </LandGrp>
      <TotalBookValueLandBuildingsAmt>3193547</TotalBookValueLandBuildingsAmt>
      <OtherLiabilitiesOrgGrp>
        <Desc>GIFT ANNUITIES PAYABLE</Desc>
        <Amt>730235</Amt>
      </OtherLiabilitiesOrgGrp>
      <TotalLiabilityAmt>730235</TotalLiabilityAmt>
      <FootnoteTextInd>X</FootnoteTextInd>
      <TotalRevEtcAuditedFinclStmtAmt>39424472</TotalRevEtcAuditedFinclStmtAmt>
      <NetUnrealizedGainsInvstAmt>4428485</NetUnrealizedGainsInvstAmt>
      <DonatedServicesAndUseFcltsAmt>5615025</DonatedServicesAndUseFcltsAmt>
      <OtherRevenueAmt>-424207</OtherRevenueAmt>
      <RevenueNotReportedAmt>9619303</RevenueNotReportedAmt>
      <RevenueSubtotalAmt>29805169</RevenueSubtotalAmt>
      <InvestmentExpensesNotIncldAmt>602262</InvestmentExpensesNotIncldAmt>
      <OtherRevenuesNotIncludedAmt>-63574</OtherRevenuesNotIncludedAmt>
      <RevenueNotReportedFinclStmtAmt>538688</RevenueNotReportedFinclStmtAmt>
      <TotalRevenuePerForm990Amt>30343857</TotalRevenuePerForm990Amt>
      <TotExpnsEtcAuditedFinclStmtAmt>14187281</TotExpnsEtcAuditedFinclStmtAmt>
      <DonatedServicesUseFcltsAmt>5615025</DonatedServicesUseFcltsAmt>
      <OtherExpensesIncludedAmt>63574</OtherExpensesIncludedAmt>
      <ExpensesNotReportedAmt>5678599</ExpensesNotReportedAmt>
      <ExpensesSubtotalAmt>8508682</ExpensesSubtotalAmt>
      <InvestmentExpensesNotIncld2Amt>602262</InvestmentExpensesNotIncld2Amt>
      <OtherExpensesNotIncludedAmt>20205</OtherExpensesNotIncludedAmt>
      <ExpensesNotRptFinclStmtAmt>622467</ExpensesNotRptFinclStmtAmt>
      <TotalExpensesPerForm990Amt>9131149</TotalExpensesPerForm990Amt>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART V, LINE 4:</FormAndLineReferenceDesc>
        <ExplanationTxt>IN ALL ENDOWED PROGRAMS AND POSITIONS, THE PRINCIPAL CONTRIBUTED TOWARD THE POSITION OR PROGRAM IS INVESTED BY THE MINNESOTA STATE UNIVERSITY, MANKATO FOUNDATION, INC. CONSISTENT WITH THE MINNESOTA UNIFORM PRUDENT MANAGEMENT OF INSTITUTIONAL FUNDS ACT (UPMIFA). THE ENDOWMENT IS INVESTED FOR PURPOSES OF EARNING INCOME (DIVIDENDS, INTEREST, AND REALIZED AND UNREALIZED GAINS). A PORTION OF ANNUAL INCOME IS APPORTIONED BY THE FOUNDATION BOARD OF DIRECTORS AND DETERMINED ANNUALLY BASED ON BOARD POLICIES WHICH SEEK TO PRESERVE THE CAPITAL OF THE ORIGINAL GIFT WHILE MEETING THE WISHES OF DONORS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART X, LINE 2:</FormAndLineReferenceDesc>
        <ExplanationTxt>MINNESOTA STATE UNIVERSITY, MANKATO FOUNDATION, INC. (THE FOUNDATION) IS ORGANIZED AS A MINNESOTA NONPROFIT CORPORATION AND HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE (IRS) AS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3), QUALIFIES FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER SECTION 170(B)(1)(A)(VI), AND HAS BEEN DETERMINED NOT TO BE A PRIVATE FOUNDATION UNDER SECTION 509(A)(1). MAVERICK PHILANTHROPIC PROPERTIES, LLC AND MAVERICK REAL ESTATE FOUNDATION, INC. MAINTAIN EXEMPT STATUS UNDER THE FOUNDATION'S EXEMPTION SINCE THE FOUNDATION IS THE SOLE MEMBER OF BOTH ENTITIES. THE FOUNDATION IS ANNUALLY REQUIRED TO FILE A RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) WITH THE IRS. IN ADDITION, THE FOUNDATION IS SUBJECT TO INCOME TAX ON NET INCOME THAT IS DERIVED FROM BUSINESS ACTIVITIES THAT ARE UNRELATED TO THE EXEMPT PURPOSE. THE FOUNDATION BELIEVES THAT IT 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 CONSOLIDATED 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.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART XI, LINE 2D - OTHER ADJUSTMENTS:</FormAndLineReferenceDesc>
        <ExplanationTxt>CHANGE IN CARRYING VALUE OF THE SPLIT INTEREST AGREEMENT -404,002. TAX FEES INCLUDED IN REVENUE -9,923. INTEREST EXPENSE INCLUDED REVENUE -12,690. TAX CREDIT OFFSETTING TAX EXPENSES 2,408.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART XI, LINE 4B - OTHER ADJUSTMENTS:</FormAndLineReferenceDesc>
        <ExplanationTxt>RENTAL EXPENSES -63,574.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART XII, LINE 2D - OTHER ADJUSTMENTS:</FormAndLineReferenceDesc>
        <ExplanationTxt>RENTAL EXPENSES 63,574.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART XII, LINE 4B - OTHER ADJUSTMENTS:</FormAndLineReferenceDesc>
        <ExplanationTxt>TAX FEES INCLUDED IN REVENUE 9,923. INTEREST EXPENSE INCLUDED REVENUE 12,690. TAX CREDIT OFFSETTING TAX EXPENSES -2,408.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleD>
    <IRS990ScheduleF documentId="RetDoc1040500001">
      <AccountActivitiesOutsideUSGrp>
        <RegionTxt>CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA &amp; BARBUDA, ARUBA, BAHAMAS,</RegionTxt>
        <OfficesCnt>0</OfficesCnt>
        <EmployeeCnt>0</EmployeeCnt>
        <TypeOfActivitiesConductedTxt>INVESTMENTS</TypeOfActivitiesConductedTxt>
        <SpecificServicesProvidedTxt>N/A</SpecificServicesProvidedTxt>
        <RegionTotalExpendituresAmt>2662318</RegionTotalExpendituresAmt>
      </AccountActivitiesOutsideUSGrp>
      <SubtotalOfficesCnt>0</SubtotalOfficesCnt>
      <SubtotalEmployeesCnt>0</SubtotalEmployeesCnt>
      <ContinuationTotalOfficeCnt>0</ContinuationTotalOfficeCnt>
      <ContinuationTotalEmployeeCnt>0</ContinuationTotalEmployeeCnt>
      <TotalOfficeCnt>0</TotalOfficeCnt>
      <TotalEmployeeCnt>0</TotalEmployeeCnt>
      <SubtotalSpentAmt>2662318</SubtotalSpentAmt>
      <ContinuationSpentAmt>0</ContinuationSpentAmt>
      <TotalSpentAmt>2662318</TotalSpentAmt>
      <TransferToForeignCorpInd>1</TransferToForeignCorpInd>
      <InterestInForeignTrustInd>0</InterestInForeignTrustInd>
      <ForeignCorpOwnershipInd>1</ForeignCorpOwnershipInd>
      <PassiveForeignInvestmestCoInd>1</PassiveForeignInvestmestCoInd>
      <ForeignPartnershipInd>1</ForeignPartnershipInd>
      <BoycottCountriesInd>0</BoycottCountriesInd>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART I, LINE 3:</FormAndLineReferenceDesc>
        <ExplanationTxt>INVESTMENTS IN COLUMN F ARE REPORTED UNDER THE ACCRUAL BASIS OF ACCOUNTING.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleF>
    <IRS990ScheduleI documentId="RetDoc1041900001">
      <GrantRecordsMaintainedInd>1</GrantRecordsMaintainedInd>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>MINNESOTA STATE UNIVERSITY</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>236 WIGLEY ADMINISTRATION CENTER</AddressLine1Txt>
          <CityNm>MANKATO</CityNm>
          <StateAbbreviationCd>MN</StateAbbreviationCd>
          <ZIPCd>56001</ZIPCd>
        </USAddress>
        <RecipientEIN>411687554</RecipientEIN>
        <IRCSectionDesc>STATE OF MN</IRCSectionDesc>
        <CashGrantAmt>1343108</CashGrantAmt>
        <NonCashAssistanceAmt>0</NonCashAssistanceAmt>
        <ValuationMethodUsedDesc>N/A</ValuationMethodUsedDesc>
        <NonCashAssistanceDesc>N/A</NonCashAssistanceDesc>
        <PurposeOfGrantTxt>ASSISTING THE UNIVERSITY WITH PROGRAM RELATED COSTS AND PROMOTING THE UNIVERSITY, INCLUDING ATHLETIC TALENT GRANTS.</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>MINNESOTA STATE UNIVERSITY</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>236 WIGLEY ADMINISTRATION CENTER</AddressLine1Txt>
          <CityNm>MANKATO</CityNm>
          <StateAbbreviationCd>MN</StateAbbreviationCd>
          <ZIPCd>56001</ZIPCd>
        </USAddress>
        <RecipientEIN>411687554</RecipientEIN>
        <IRCSectionDesc>STATE OF MN</IRCSectionDesc>
        <CashGrantAmt>2606817</CashGrantAmt>
        <NonCashAssistanceAmt>0</NonCashAssistanceAmt>
        <ValuationMethodUsedDesc>N/A</ValuationMethodUsedDesc>
        <NonCashAssistanceDesc>N/A</NonCashAssistanceDesc>
        <PurposeOfGrantTxt>TO ASSIST THE UNIVERSITY IN AWARDING STUDENT SCHOLARSHIPS</PurposeOfGrantTxt>
      </RecipientTable>
      <Total501c3OrgCnt>1</Total501c3OrgCnt>
      <TotalOtherOrgCnt>0</TotalOtherOrgCnt>
      <GrantsOtherAsstToIndivInUSGrp>
        <GrantTypeTxt>ENTREPRENEURSHIP AND INNOVATION AWARDS</GrantTypeTxt>
        <RecipientCnt>19</RecipientCnt>
        <CashGrantAmt>25150</CashGrantAmt>
        <ValuationMethodUsedDesc>N/A</ValuationMethodUsedDesc>
        <NonCashAssistanceDesc>N/A</NonCashAssistanceDesc>
      </GrantsOtherAsstToIndivInUSGrp>
      <GrantsOtherAsstToIndivInUSGrp>
        <GrantTypeTxt>PSYCHOLOGY DEPT DAN HOULIHAN RESEARCH AWARD</GrantTypeTxt>
        <RecipientCnt>1</RecipientCnt>
        <CashGrantAmt>300</CashGrantAmt>
        <ValuationMethodUsedDesc>N/A</ValuationMethodUsedDesc>
        <NonCashAssistanceDesc>N/A</NonCashAssistanceDesc>
      </GrantsOtherAsstToIndivInUSGrp>
      <GrantsOtherAsstToIndivInUSGrp>
        <GrantTypeTxt>SCIENCE FAIR AWARDS</GrantTypeTxt>
        <RecipientCnt>3</RecipientCnt>
        <CashGrantAmt>500</CashGrantAmt>
        <ValuationMethodUsedDesc>N/A</ValuationMethodUsedDesc>
        <NonCashAssistanceDesc>N/A</NonCashAssistanceDesc>
      </GrantsOtherAsstToIndivInUSGrp>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART I, LINE 2:</FormAndLineReferenceDesc>
        <ExplanationTxt>THE FOUNDATION WORKS CLOSELY WITH MINNESOTA STATE UNIVERSITY MANKATO WITH THE PAYMENT OF ALL GRANTS. THE FOUNDATION PROVIDES OVERSIGHT OF THE USE OF THE FUNDS ENSURING THAT ALL EXPENDITURES ARE IN ACCORDANCE WITH THE DONOR'S INTENT. RECIPIENTS OF SCHOLARSHIPS MUST BE ENROLLED IN THE UNIVERSITY AS WELL AS MEET THE CRITERIA SPECIFIED BY THE DONOR AND/OR THE ACADEMIC DEPARTMENT CHOOSING THE SCHOLARSHIP RECIPIENTS.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleI>
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      <SeverancePaymentInd>1</SeverancePaymentInd>
      <SupplementalNonqualRtrPlanInd>0</SupplementalNonqualRtrPlanInd>
      <EquityBasedCompArrngmInd>0</EquityBasedCompArrngmInd>
      <CompBasedOnRevenueOfFlngOrgInd>0</CompBasedOnRevenueOfFlngOrgInd>
      <CompBsdOnRevRelatedOrgsInd>0</CompBsdOnRevRelatedOrgsInd>
      <CompBsdNetEarnsFlngOrgInd>0</CompBsdNetEarnsFlngOrgInd>
      <CompBsdNetEarnsRltdOrgsInd>0</CompBsdNetEarnsRltdOrgsInd>
      <AnyNonFixedPaymentsInd>0</AnyNonFixedPaymentsInd>
      <InitialContractExceptionInd>0</InitialContractExceptionInd>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>HAROLD K STANLEY</PersonNm>
        <TitleTxt>FORMER OFFICER THRU 05/24</TitleTxt>
        <BaseCompensationFilingOrgAmt>169052</BaseCompensationFilingOrgAmt>
        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>0</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>0</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>13619</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>17763</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>200434</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>AMY M COONEY</PersonNm>
        <TitleTxt>EXECUTIVE DIRECTOR AS OF 03/25</TitleTxt>
        <BaseCompensationFilingOrgAmt>145791</BaseCompensationFilingOrgAmt>
        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>0</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>0</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>13490</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>27547</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>186828</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>RICHARD ORTEGA</PersonNm>
        <TitleTxt>INTERIM EXEC. DIRECTOR THRU 03/25</TitleTxt>
        <BaseCompensationFilingOrgAmt>96005</BaseCompensationFilingOrgAmt>
        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>0</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>0</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>8178</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>5376</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>109559</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, SCHEDULE J, PART II</FormAndLineReferenceDesc>
        <ExplanationTxt>THE FOUNDATION'S FORMER AND CURRENT EXECUTIVE DIRECTORS HAROLD STANLEY, RICHARD ORTEGA, AND AMY M COONEY ARE COMPENSATED BY AN UNRELATED ORGANIZATION, MINNESOTA STATE UNIVERSITY, MANKATO FOR SERVICES PROVIDED TO THE FILING ORGANIZATION.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleJ>
    <IRS990ScheduleM documentId="RetDoc1042900001">
      <SecuritiesPubliclyTradedGrp>
        <NonCashCheckboxInd>X</NonCashCheckboxInd>
        <ContributionCnt>13702</ContributionCnt>
        <NoncashContributionsRptF990Amt>867063</NoncashContributionsRptF990Amt>
        <MethodOfDeterminingRevenuesTxt>FAIR MARKET VALUE</MethodOfDeterminingRevenuesTxt>
      </SecuritiesPubliclyTradedGrp>
      <RealEstateOtherGrp>
        <NonCashCheckboxInd>X</NonCashCheckboxInd>
        <ContributionCnt>2</ContributionCnt>
        <NoncashContributionsRptF990Amt>1690000</NoncashContributionsRptF990Amt>
        <MethodOfDeterminingRevenuesTxt>FAIR MARKET VALUE</MethodOfDeterminingRevenuesTxt>
      </RealEstateOtherGrp>
      <FoodInventoryGrp>
        <NonCashCheckboxInd>X</NonCashCheckboxInd>
        <ContributionCnt>14</ContributionCnt>
        <NoncashContributionsRptF990Amt>81829</NoncashContributionsRptF990Amt>
        <MethodOfDeterminingRevenuesTxt>VALUED BY DONOR</MethodOfDeterminingRevenuesTxt>
      </FoodInventoryGrp>
      <OtherNonCashContriTableGrp>
        <NonCashCheckboxInd>X</NonCashCheckboxInd>
        <Desc>EQUIPMENT</Desc>
        <ContributionCnt>571</ContributionCnt>
        <NoncashContributionsRptF990Amt>297606</NoncashContributionsRptF990Amt>
        <MethodOfDeterminingRevenuesTxt>VALUED BY DONOR</MethodOfDeterminingRevenuesTxt>
      </OtherNonCashContriTableGrp>
      <OtherNonCashContriTableGrp>
        <NonCashCheckboxInd>X</NonCashCheckboxInd>
        <Desc>SUPPLIES</Desc>
        <ContributionCnt>2203</ContributionCnt>
        <NoncashContributionsRptF990Amt>48968</NoncashContributionsRptF990Amt>
        <MethodOfDeterminingRevenuesTxt>VALUED BY DONOR</MethodOfDeterminingRevenuesTxt>
      </OtherNonCashContriTableGrp>
      <OtherNonCashContriTableGrp>
        <NonCashCheckboxInd>X</NonCashCheckboxInd>
        <Desc>EVENT HOSTING</Desc>
        <ContributionCnt>17</ContributionCnt>
        <NoncashContributionsRptF990Amt>16943</NoncashContributionsRptF990Amt>
        <MethodOfDeterminingRevenuesTxt>VALUED BY DONOR</MethodOfDeterminingRevenuesTxt>
      </OtherNonCashContriTableGrp>
      <Form8283ReceivedCnt>0</Form8283ReceivedCnt>
      <AnyPropertyThatMustBeHeldInd>0</AnyPropertyThatMustBeHeldInd>
      <ReviewProcessUnusualNCGiftsInd>1</ReviewProcessUnusualNCGiftsInd>
      <ThirdPartiesUsedInd>0</ThirdPartiesUsedInd>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART I, COLUMN (B):</FormAndLineReferenceDesc>
        <ExplanationTxt>THE NUMBER OF ITEMS DONATED WAS USED FOR SECURITIES - PUBLICLY TRADED IN PART I COLUMN B. THE NUMBER OF CONTRIBUTORS WAS USED FOR ALL OTHER LINES IN PART I COLUMN B.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleM>
    <IRS990ScheduleO documentId="RetDoc1044400001">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION A, LINE 1A</FormAndLineReferenceDesc>
        <ExplanationTxt>THE EXECUTIVE COMMITTEE IS COMPRISED OF THE BOARD CHAIR, VICE CHAIR, SECRETARY, TREASURER, EXECUTIVE DIRECTOR OF THE FOUNDATION, PRESIDENT OF THE UNIVERSITY, AND THE VP OF FINANCE &amp; ADMINISTRATION OF THE UNIVERSITY. DURING THE INTERVALS BETWEEN MEETINGS OF THE BOARD OF DIRECTORS THE EXECUTIVE COMMITTEE SHALL HAVE AND EXERCISE ALL OF THE RIGHTS AND POWERS OF THE BOARD, EXCEPT THAT THE EXECUTIVE COMMITTEE SHALL NOT HAVE THE RIGHT OR POWER TO DO ANY OF THE FOLLOWING: (A) TAKE ANY ACTION WHICH IS MATERIALLY INCONSISTENT WITH AN ESTABLISHED POLICIES OF THE FOUNDATION, (B) TAKE ANY ACTION WHICH ESTABLISHES A NEW POLICY AND, (C) TAKE ANY ACTION WHICH IS WITHHELD FORM THE EXECUTIVE COMMITTEE BY RESOLUTION OF THE BOARD.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>THE FEDERAL FORM 990 IS INITIALLY REVIEWED BY THE FOUNDATION DIRECTOR OF FINANCE, THEN THE VP OF UNIVERSITY ADVANCEMENT AND THE CFO OF THE UNIVERSITY. NEXT STEP IS THE AUDIT COMMITTEE FOR THEIR REVIEW AND APPROVAL. IT IS THEN SUBMITTED TO THE FULL BOARD FOR THEIR REVIEW AND FINAL APPROVAL.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>DISCLOSURES OF POSSIBLE CONFLICTS ARE REVIEWED ANNUALLY BY THE AUDIT COMMITTEE. IF FOLLOW-UP IS REQUIRED, THE COMMITTEE ASSIGNS A MEMBER OR STAFF TO HANDLE OR MONITOR AS NECESSARY. DIRECTORS OR OFFICERS WHO HAVE DECLARED OR HAVE BEEN FOUND TO HAVE A CONFLICT OF INTEREST SHALL REFRAIN FROM CONSIDERATION OF PROPOSED TRANSACTIONS, UNLESS FOR SPECIAL REASONS THE BOARD OR ADMINISTRATION REQUESTS INFORMATION OR INTERPRETATION. PERSONS WITH CONFLICTS SHALL NOT VOTE, PARTICIPATE IN DISCUSSION, NOR BE PRESENT AT THE TIME OF THE VOTE. ANY PROPOSED TRANSACTION IN WHICH A CONFLICT OF INTEREST HAS BEEN DECLARED OR FOUND TO EXIST MUST BE APPROVED BY A MAJORITY OF THE DISINTERESTED MEMBERS OF THE BOARD OR THE APPROPRIATE COMMITTEE OF THE BOARD AFTER DISCLOSURE OF THE CONFLICT OF INTEREST.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION C, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>THE FINANCIAL STATEMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE. ALL OTHER GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST AND CAN BE E-MAILED OR MAILED.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VII:</FormAndLineReferenceDesc>
        <ExplanationTxt>THE INDIVIDUALS NOTED AS MANAGERS IN THE ATTACHED FORM 990, PART VII ALSO SERVE ON THE BOARD OF GOVERNORS, THE GOVERNING BODY OF MAVERICK PHILANTHROPIC PROPERTIES, LLC.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART IX:</FormAndLineReferenceDesc>
        <ExplanationTxt>AN UNRELATED ORGANIZATION (MINNESOTA STATE UNIVERSITY) EMPLOYS INDIVIDUALS THAT WORK FOR THE FOUNDATION, SOME OF THESE EXPENSES ARE CHARGED BACK TO THE FOUNDATION. THERE ARE ALSO EMPLOYEES OF THE UNRELATED ORGANIZATION THAT HAVE ALL OR PART OF THEIR SALARIES CHARGED BACK TO THE FOUNDATION UNDER A DONOR RESTRICTED AGREEMENT. THE COMPENSATION IN PART VII, SECTION A, REPRESENTS THE AMOUNTS PAID BY THE UNRELATED ORGANIZATION.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART XI, LINE 9:</FormAndLineReferenceDesc>
        <ExplanationTxt>CHANGE IN CARRYING VALUE OF SPLIT INTEREST AGREEMENTS -404,002.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART XII, LINE 2C:</FormAndLineReferenceDesc>
        <ExplanationTxt>THE PROCESS FOR OVERSEEING AND SELECTING AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
    <IRS990ScheduleR documentId="RetDoc1043400001">
      <IdDisregardedEntitiesGrp>
        <DisregardedEntityName>
          <BusinessNameLine1Txt>MAVERICK PHILANTHROPIC PROPERTIES LLC</BusinessNameLine1Txt>
        </DisregardedEntityName>
        <USAddress>
          <AddressLine1Txt>224 ALUMNI FOUNDATION CENTER</AddressLine1Txt>
          <CityNm>MANKATO</CityNm>
          <StateAbbreviationCd>MN</StateAbbreviationCd>
          <ZIPCd>56001</ZIPCd>
        </USAddress>
        <EIN>416033423</EIN>
        <PrimaryActivitiesTxt>CREATED TO HOLD PROPERTY FOR FOUNDATION</PrimaryActivitiesTxt>
        <LegalDomicileStateCd>MN</LegalDomicileStateCd>
        <TotalIncomeAmt>0</TotalIncomeAmt>
        <EndOfYearAssetsAmt>1503547</EndOfYearAssetsAmt>
        <DirectControllingEntityName>
          <BusinessNameLine1Txt>MINNESOTA STATE UNIVERSITY MANKATO FOUNDATION</BusinessNameLine1Txt>
        </DirectControllingEntityName>
      </IdDisregardedEntitiesGrp>
      <IdDisregardedEntitiesGrp>
        <DisregardedEntityName>
          <BusinessNameLine1Txt>MAVERICK REAL ESTATE FOUNDATION INC</BusinessNameLine1Txt>
        </DisregardedEntityName>
        <USAddress>
          <AddressLine1Txt>224 ALUMNI FOUNDATION CENTER</AddressLine1Txt>
          <CityNm>MANKATO</CityNm>
          <StateAbbreviationCd>MN</StateAbbreviationCd>
          <ZIPCd>56001</ZIPCd>
        </USAddress>
        <EIN>392246464</EIN>
        <PrimaryActivitiesTxt>RECEIVE, PURCHASE, DEVELOP AND HOLD REAL ESTATE FOR THE BENEFIT OF THE UNIV</PrimaryActivitiesTxt>
        <LegalDomicileStateCd>MN</LegalDomicileStateCd>
        <TotalIncomeAmt>0</TotalIncomeAmt>
        <EndOfYearAssetsAmt>0</EndOfYearAssetsAmt>
        <DirectControllingEntityName>
          <BusinessNameLine1Txt>MINNESOTA STATE UNIVERSITY MANKATO FOUNDATION INC</BusinessNameLine1Txt>
        </DirectControllingEntityName>
      </IdDisregardedEntitiesGrp>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, SCHEDULE R, PART I</FormAndLineReferenceDesc>
        <ExplanationTxt>MAVERICK REAL ESTATE FOUNDATION, INC. DID NOT HOLD ANY PROPERTY AT 06/30/2025 DUE TO PENDING 501(C)(3) STATUS.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleR>
  </ReturnData>
</Return>