2025-05-12T09:15:31+00:00 2024-06-30 440160260 Forvis Mazars LLP 820 Massachusetts Ave Suite 1370 Indianapolis IN 46204 990 2023-07-01 205733080 Cardinal Funds Inc CARD 7652858312 2800 W Bethel Avenue Muncie IN 47304 Michael Ray Chair 7652858312 2025-05-12 true true Nicole Fishback P01279475 3173834000 2024-05-15 2023 2025-03-06 01:10:19Z Michael Ray - Chair 2800 W Bethel Avenue Muncie IN 47304 476628 false X N/A X 2008 IN CARDINAL FUNDS INC IS ORGANIZED TO HOLD FUNDS TO SUPPORT BALL STATE UNIVERSITY FOUNDATION AND THEIR MISSIONS. 7 4 0 4 0 0 162308 203591 0 -136502 273037 0 25806 476628 137959 108167 0 0 0 0 6791 19728 144750 127895 -118944 348733 2460905 2828290 0 18652 2460905 2809638 THE MISSION OF CARDINAL FUNDS INC IS TO HOLD BALL STATE UNIVERSITY FOUNDATION SCHOLARSHIP FUNDS FOR CURRENT STUDENTS OR GRADUATES OF THE UNIVERSITY, INDIANA ACADEMY AND BURRIS LABORATORY SCHOOL AS WELL AS FUNDS FOR THE BENEFIT OF OTHER QUALIFIED EXEMPT ORGANIZATIONS THAT SERVE UNIVERSITY STUDENTS, ALUMNI, FACULTY AND STAFF. false false 108167 108167 CARDINAL FUNDS HOLDS FUNDS TO PRIMARILY SUPPORT SCHOLARSHIPS AND THE MISSION OF BALL STATE UNIVERSITY AND BALL STATE UNIVERSITY FOUNDATION. 108167 true true false false false false false false true false false false true false false false true false false false false false false false false false true false true false false false false false false false false false false false false false true false false false true 1 0 true 0 false false false false false false false false false false false false X 7 4 false true false false true false false true true false false true true true true true true false false false IN X X Ball State University Foundation 7652858312 2800 W Bethel Avenue Muncie IN 47304 Michael C Ray Chair 1.0 1.0 X X 0 0 0 Patrick J Alderdice Vice Chair 1.0 1.0 X X 0 0 0 Stephen Wachtmann Secretary/Treasurer 2.0 53.0 X X 0 166597 29303 David Heeter Board Member 1.0 2.0 X 0 0 0 Donald Ray Allen Board Member (End 3/24) 2.0 53.0 X 0 208035 22179 Jean Kramer Crosby Board Member 2.0 53.0 X 0 270572 32308 Marla K Templeton Board Member 1.0 2.0 X 0 0 0 Will Cooper Board Member (Beg 3/24) 2.0 53.0 X 0 93282 16594 0 738486 100384 0 false true false 0 203591 10033 203591 0 0 0 0 0 0 0 273037 0 273037 0 273037 273037 0 0 0 0 0 476628 0 0 273037 108167 108167 3518 3518 0 0 0 0 2578 2578 Other 13632 13632 0 0 0 0 127895 108167 19728 0 70121 113369 5832 10352 0 0 0 0 0 0 0 0 0 0 2384952 2704569 2460905 2828290 0 18652 0 0 0 0 0 18652 X 69395 127424 2391510 2682214 2460905 2809638 2460905 2828290 348733 0 X false true X true false X 202003 145371 213779 162308 203591 927052 0 0 202003 145371 213779 162308 203591 927052 266298 660754 0 0 0 0 0 0 0 0 927052 0 0.7127 0.6967 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1817775 54398 211417 50718 16330 2016542 1912982 41902 -82799 54310 1817775 1996894 34997 -78970 39939 1912982 1790834 49499 376012 189370 30081 1996894 2205080 50719 16305 461010 20260 1790834 0.3341 0.6659 false false Due from BSUF 2704569 2704569 476628 0 0 476628 0 0 476628 127895 0 0 127895 0 0 127895 Schedule D, Part X, Line 2 ASC 740 DISCLOSURE MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. Schedule D, Part V, Line 4 Intended uses of endowment funds THE ORGANIZATION IS THE BENEFICIARY OF CHARITABLE REMAINDER TRUSTS AND VARIOUS PERPETUAL TRUSTS ADMINISTERED BY OUTSIDE PARTIES. THE ORGANIZATION'S ENDOWMENT CONSISTS OF NUMEROUS INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES, INCLUDING SCHOLARSHIPS AND FINANCIAL AID EXPENSES, FACULTY COMPENSATION AND SUPPORT EXPENSES, ACADEMIC PROGRAM EXPENSES, RESEARCH EXPENSES, PUBLIC SERVICE EXPENSES, ATHLETICS, RECRUITMENT, PUBLIC SERVICE, EXTERNAL RELATIONS, ARTWORK, LIBRARY MATERIALS AND OTHER PROGRAMS MANAGED PER THE DONOR AGREEMENT. THE ORGANIZATION HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS AND OTHER ITEMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT. true BALL STATE UNIVERSITY 2000 W UNIVERSITY AVE MUNCIE IN 47306 356000221 115 108167 SCHOLARSHIP FUNDING 0 1 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. CARDINAL FUNDS PROVIDES SUPPORT FOR SCHOLARSHIPS THROUGH TRANSFER OF CASH TO THE DESIGNATED COLLEGE OR UNIVERSITY. THE USE OF THE SUPPORT IS SPECIFIED AT THE TIME OF THE TRANSFER. SCHOLARSHIPS ARE PROVIDED TO VARIOUS COLLEGES AND UNIVERSITIES TO BE APPLIED AS A CREDIT TO THE STUDENT ACCOUNT. false false false false false false false false false Stephen Wachtmann Secretary/Treasurer 0 165597 0 1000 0 0 0 18394 0 10909 0 195900 0 0 Jean Kramer Crosby Board Member 0 269572 0 1000 0 0 0 28115 0 4193 0 302880 0 0 Donald Ray Allen Board Member (End 3/24) 0 204035 0 4000 0 0 0 10709 0 11470 0 230214 0 0 Schedule J, Part I PROCESS TO REVIEW COMPENSATION CARDINAL FUNDS DOES NOT HAVE EMPLOYEES. PER THE ADMINISTRATIVE AGREEMENT WITH BALL STATE UNIVERSITY FOUNDATION, CARDINAL FUNDS IS PROVIDED EMPLOYEES FROM BALL STATE UNIVERSITY FOUNDATION. THESE INDIVIDUALS ARE PAID BY BALL STATE UNIVERSITY FOUNDATION AND COMPENSATION IS DECIDED THROUGH BALL STATE UNIVERSITY'S PROCESS. Form 990, Part IV, Line 12b Audited Financial Statements THE AUDITED FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES ON A CONSOLIDATED BASIS WITH BALL STATE UNIVERSITY FOUNDATION, CARDINAL PROPERTIES, AND BALL STATE ALUMNI ASSOCIATION, INC. BALL STATE UNIVERSITY FOUNDATION HAS ESTABLISHED A COMMITTEE FOR THE OVERSIGHT OF THE AUDIT. Form 990, Part VI, Line 1b Number of Independent Board Members AS OF 6/30/2024, WILL COOPER, STEPHEN WACHTMANN, JEAN KRAMER CROSBY ARE PAID EMPLOYEES OF BALL STATE UNIVERSITY FOUNDATION, A RELATED ORGANIZATION AND ARE THEREFORE NON-INDEPENDENT BOARD MEMBERS. Form 990, Part VI, Line 15 Process to Review Compensation CARDINAL FUNDS DOES NOT HAVE EMPLOYEES. PER THE ADMINISTRATIVE AGREEMENT WITH BALL STATE UNIVERSITY FOUNDATION, CARDINAL FUNDS IS PROVIDED EMPLOYEES FROM BALL STATE UNIVERSITY FOUNDATION. THESE INDIVIDUALS ARE PAID BY BALL STATE UNIVERSITY FOUNDATION AND COMPENSATION IS DECIDED THROUGH BALL STATE UNIVERSITY'S PROCESS. Form 990, Part VI, Line 3 Delegation of management duties CARDINAL FUNDS HAS REQUESTED THAT BALL STATE UNIVERSITY FOUNDATION, A RELATED ENTITY, PROVIDE CARDINAL FUNDS WITH CERTAIN ADMINISTRATIVE SERVICES IN ORDER TO KEEP CARDINAL FUNDS' ADMINISTRATIVE COSTS TO A MINIMUM. THE PROVISION OF SUCH SERVICES IN ORDER TO ALLOW CARDINAL FUNDS TO PURSUE ITS CHARITABLE PURPOSES IS IN FURTHERANCE OF THE CHARITABLE PURPOSES OF BALL STATE UNIVERSITY FOUNDATION. ADMINISTRATIVE SERVICES PROVIDED BY BALL STATE UNIVERSITY FOUNDATION INCLUDE FUND MANAGEMENT AND INVESTMENT; FUND ACCOUNTING AND AUDITING; ADMINISTRATIVE SUPPORT; CLERICAL SUPPORT; PAYROLL TAXES AND EMPLOYEE BENEFIT SUPPORT; OFFICE SUPPLIES AND EQUIPMENT USE; AND OFFICE SPACE. Form 990, Part VI, Line 6 Classes of members or stockholders BALL STATE UNIVERSITY FOUNDATION IS THE SOLE MEMBER. Form 990, Part VI, Line 11b Review of form 990 by governing body THE FORM 990 AND RELATED SCHEDULES ARE THOROUGHLY REVIEWED BY THE BOARD OF DIRECTORS AND AN INDEPENDENT ACCOUNTING FIRM PRIOR TO SUBMISSION TO THE IRS. Form 990, Part VI, Line 12c Conflict of interest policy AN ANNUAL QUESTIONNAIRE IS REQUIRED TO BE COMPLETED BY ALL BOARD MEMBERS. THE QUESTIONNAIRE REQUIRES ALL INTERESTED PERSONS TO DISCLOSE PERSONAL CONFLICTS OF INTEREST. UPON DISCLOSURE OF AN INTEREST, THE BOARD DISCUSSES THE POTENTIAL CONFLICT WITHOUT THE INTERESTED PERSON PRESENT TO DETERMINE IF A CONFLICT ACTUALLY EXISTS. THE BOARD THEN DETERMINES THE APPROPRIATE ACTION AFTER ANALYZING THE CONFLICT. Form 990, Part VI, Line 19 Required documents available to the public CARDINAL FUNDS MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST AND THROUGH THE BALL STATE UNIVERSITY FOUNDATION WEBSITE. Ball State University Foundation 2800 West Bethel Avenue Muncie IN 47304 356024566 Support IN 501(c)(3) 5 NA false Cardinal Properties 2800 West Bethel Avenue Muncie IN 47304 201872207 Real Estate IN 501(c)(3) Type I BS Univ Fdn false Ball State University 2000 W University Muncie IN 47306 356000221 Education IN NA false Ball State University Alumni Association 2800 West Bethel Avenue Muncie IN 47304 270458828 Alumni Spt IN 501(c)(3) 5 NA false false true false false false false false false false false false false false true true false false false false