WESTERN MICHIGAN UNIVERSITY FOUNDATION
Mission Statement
The mission of the Western Michigan University Foundation is to promote and support Western Michigan University so that it can effectively carry out its mission of teaching, research and service. The Foundation accomplishes its mission by maintaining and enlarging an endowment fund, the income from which provides supplemental financial assistance for current demands. The WMU Foundation also fulfills its mission through: Cost-effective fund-raising programs, conducted by the University Advancement Office, which seek participation from a variety of Western Michigan University constituents; and Prudent and responsible administration of the assets entrusted to it by its many constituents; and Effective distribution of its resources to areas of priority within Western Michigan University. The WMU Foundation is administered by the executive director/secretary, who also serves as the Vice President for University Advancement, and a volunteer Board of Directors, who oversee how funds can best be used to address the most urgent campus priorities. How funds are allocated is dictated by the governing documents for true endowments and/or departments owning the endowment.
Financial Overview — FY 2024
Compared with Peers
FY 2024| Ratio | This org | Peer median | Position (P10 → P90) | |
|---|---|---|---|---|
|
Program expense ratio
Program expenses / total expenses
· higher is better
|
85.2% | 84.6% |
P10P90
|
Above median |
|
Admin expense ratio
Management and general / total expenses
· lower is better
|
4.1% | 13.3% |
P10P90
|
Top quarter |
|
Fundraising expense ratio
Fundraising expenses / total expenses
· lower is better
|
10.7% | 0.7% |
P10P90
|
Bottom quarter |
|
Operating reserve
Months of expenses covered by net assets
· higher is better
|
227.6 mo | 10.6 mo |
P10P90
|
Top quarter |
|
Liabilities to assets
Total liabilities / total assets
· lower is better
|
0.0% | 31.2% |
P10P90
|
Top quarter |
|
Revenue concentration
Share of revenue from the largest source
· lower is better
|
52.0% | 88.3% |
P10P90
|
Top quarter |
|
Revenue growth
Year over year revenue growth
|
23.3% | 7.9% |
P10P90
|
|
|
Expense growth
Year over year expense growth
|
-6.8% | 7.4% |
P10P90
|
|
|
Surplus margin
Surplus as a share of revenue
|
4.1% | 3.0% |
P10P90
|
Financial History
| Year | Revenue | Expenses | Net Assets | Program % | Staff |
|---|---|---|---|---|---|
| 2024 | $58.8M | $56.4M | $1069.2M | 85.2% | 0 |
| 2023 | $47.7M | $60.5M | $1029.0M | 89.8% | 0 |
| 2022 | $103.7M | $49.5M | $1004.8M | 91.9% | 0 |
| 2021 | $603.5M | $35.4M | N/A | — | 0 |
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