Montana State University Foundation
Also known as MSU Alumni Foundation
Montana State University Foundation reported $147.4 million in revenue and $87.5 million in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $85.66 went to program services, $8.56 to management and general costs and $5.78 to fundraising. Its largest source of revenue was contributions and grants: 84.7% of the total. The highest compensation it reported for one person was $337,435 (President and CEO). 23 people received more than $100,000 in reportable compensation. Revenue rose 365% between FY2020 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending June 30, 2025 · Form 990, Part IX, line 25 · total expenses $87MFor context, the median across 5,499 covered education charities: $85.56 programs, $13.59 management, $0.85 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending June 30, 2025 · Form 990, Part VIII · total revenue $147MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 85.7% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 8.6% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 5.8% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.04 | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 84.7% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 3.1% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $337,435 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.39% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 23 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 69.7 | 13.3 |
| Independent voting board members Part VI 1a–1b | 23 of 23 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expenseMSUAF provided Montana State University with private dollars to advance its land-grant mission to integrate education, create knowledge and art, and service communities. MSUAF provided $9.2 million to enrich instruction, research, and public service of Montana State University's 17,144 students as well as $54.3 million to construct and equip facilities that enhance their research and learning environments
MSUAF provided 3,338 students with scholarships to attend Montana State University. Scholarships allowed these students to pursue advanced education, lessening the burden of tuition, housing, and fees
Alumni engagement connects over 252,000 contactable alumni and friends of Montana State University through inclusive communications, events, and affiliate networks. Alumni (which included graduates and non-degreed attendees) and friends (affiliates, staff, faculty, donors, parents of current students) receive regular MSU news, events, and invitations to connect with Montana State and one another, locally, in populus target regions, and in chapter areas and across the country. Over 300 events including in-person and hybrid, brought programs, meaningful experiences and unique opportunities to…
Highest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| President and CEO Officer, 50.00 hrs/week | $301,975 | $0 | $35,460 | $337,435 |
| VP of Finance & Accounting Officer, 50.00 hrs/week | $213,143 | $0 | $36,010 | $249,153 |
| VP of Development Key employee, 50.00 hrs/week | $188,877 | $0 | $29,897 | $218,774 |
| Sr. Director of Special Projects Highest compensated employee, 40.00 hrs/week | $170,014 | $0 | $24,612 | $194,626 |
| Assoc. VP of Development for ETGP Highest compensated employee, 40.00 hrs/week | $150,897 | $0 | $33,477 | $184,374 |
| VP of Engagement Highest compensated employee, 40.00 hrs/week | $158,356 | $0 | $25,885 | $184,241 |
| Sr. Managing Director of ETGP Highest compensated employee, 40.00 hrs/week | $144,775 | $0 | $28,929 | $173,704 |
| Former President and CEO Former, 0.00 hrs/week | $169,292 | $0 | $0 | $169,292 |
23 people received more than $100,000 in reportable compensation from Montana State University Foundation (Part VII, line 2). Compensation of current officers, directors and key employees totaled $746K (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b23 · 23 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bYes
- Employees Part I, line 590
- Volunteers Part I, line 6150
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| Blackbaud Inc Technology Services | $247,116 |
| Wilshire Advisors LLC Investment Consultant | $220,000 |
| Ologie Inc Marketing Services | $165,000 |
| Color World Printing & Mailing Services | $135,310 |
Individuals listed as contractors are left out. 4 contractors were paid more than $100,000 in all.
Private foundation grants it received
24 private foundations reported grants to Montana State University Foundation totaling $942K on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Montana State University Foundation's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Montana State University Foundation, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 Montana State University Foundation spent in FY2025, $85.66 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Carroll UniversityWaukesha, WI · revenue $147M · programs 89.9% · FY2025
- Robert W Woodruff Health Sciences Center FundAtlanta, GA · revenue $148M · programs 98.4% · FY2025
- Eastern UniversitySt Davids, PA · revenue $147M · programs 82.4% · FY2025
- Olivet Nazarene UniversityBourbonnais, IL · revenue $148M · programs 89.8% · FY2025
- Mountain Area Health Education CenterAsheville, NC · revenue $147M · programs 94.7% · FY2025
Questions people ask
How much of Montana State University Foundation's spending goes to programs?
In the fiscal year ending June 30, 2025, Montana State University Foundation reported that 85.7% of its $87.5 million in expenses went to program services, 8.6% to management and general and 5.8% to fundraising (Form 990, Part IX).
How much does Montana State University Foundation pay its top executive?
The largest total compensation Montana State University Foundation reported for one person in the fiscal year ending June 30, 2025 was $337,435, for the role of President and CEO (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Montana State University Foundation get its money?
Of $147.4 million in revenue in the fiscal year ending June 30, 2025, 84.7% came from contributions and grants and 3.1% from program service revenue (Form 990, Part VIII).
Is Montana State University Foundation a registered charity?
The IRS lists EIN 81-6001649 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending June 30, 2025, object 202621259349302907 · read the filing · XML
- FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202511219349302201 · read the filing
- FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202411039349301726 · read the filing
- FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202341359349316659 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202200209349300910 · read the filing
- FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202110349349300336 · read the filing
All filings for EIN 81-6001649: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.