Michigan State University Foundation
325 E Grand River Ave Ste 275, East Lansing, MI · IRS data through FY2025
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2025 | $44,725,234 | $24,891,311 | $602,585,205 |
| FY2024 | $31,661,100 | $25,784,029 | $575,369,108 |
| FY2023 | $35,711,061 | $29,167,774 | $520,919,934 |
| FY2022 | $51,499,585 | $23,721,227 | $475,967,178 |
| FY2021 | $55,850,938 | $19,515,895 | $498,412,684 |
| FY2020 | $16,720,899 | $24,199,809 | $379,914,352 |
| FY2019 | $39,012,217 | $21,648,384 | $391,639,305 |
| FY2018 | $31,660,320 | $44,407,805 | $388,563,360 |
| FY2017 | $17,353,453 | $19,699,435 | $392,244,097 |
| FY2016 | $28,754,405 | $21,278,118 | $356,694,116 |
| FY2015 | $29,508,064 | $23,565,849 | $383,929,299 |
| FY2014 | $15,597,259 | $21,248,103 | $389,910,933 |
| FY2013 | $33,144,546 | $21,847,671 | $356,997,391 |
| FY2012 | $12,824,978 | $20,533,366 | $342,115,246 |
Form 990 filings
The returns filed by Michigan State University Foundation (EIN 23-7326030), including Form 990 PDFs and e-file data by year, are available in ProPublica's Nonprofit Explorer. The figures on this page come from IRS data files built from those returns.
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $8,894,747 | 20% |
| Program service revenue | $874,135 | 2% |
| Other revenue | $34,956,352 | 78% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $20,371,384 | 82% |
| Management & general | $4,519,927 | 18% |
| Fundraising | $0 | 0% |
What the numbers show
- Other revenue made up 78% of total revenue in FY2025.
- Program services accounted for 82% of functional expenses, management & general 18%, and fundraising 0%.
- 82% of functional expenses went to program services in FY2025. That is higher than 42.9% of 63 Education organizations in MI.
- Net assets covered about 290.5 months of expenses at the end of the reporting year. That puts it in the 95th percentile among 1365 Education organizations in MI.
- Total revenue was higher than 98.4% of 1396 Education organizations in MI.
- Total revenue rose from $12,824,978 in FY2012 to $44,725,234 in FY2025. Revenue increased in 6 and decreased in 7 of 13 year-over-year comparisons.
- Expenses exceeded revenue in 5 of 14 reported years (FY2012, FY2014, FY2017, FY2018, FY2020).
- The highest revenue on record here is $55,850,938 in FY2021.
- Net assets grew from $342,115,246 to $602,585,205 between FY2012 and FY2025.
- Contributions and grants made up 70% of revenue in FY2012 and 20% in FY2025.
- Listed in the IRS Publication 78 data as a central organization with a group exemption; its subordinate units may also be eligible.
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
IRS status
| Ruling year | 1991 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | B110 — Education (in MI) |
| Donations | Listed in the IRS Publication 78 data as a central organization with a group exemption; its subordinate units may also be eligible. |
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Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded November 4, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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