Foundation Facts
- The Missouri Southern Foundation is a 501(c)(3) not-for-profit organization.
- The Foundation’s sole purpose is to accept and steward gifts in support of Missouri Southern State University.
- The Missouri Southern Foundation’s sole mission is “to foster, cooperate, assist in the growth, development, and advancement of Missouri Southern State University.”
- A memorandum of understanding exists between the Foundation and the university which outlines both organizations’ responsibilities to one another.
- The Foundation is governed by an external Board of Directors comprised of Missouri Southern graduates, donors and community leaders. The full Board meets four times per year and has grown from 14 members in 2015 to more than 30 today. Board members serve up to three three-year terms.
- Members of the Board of Directors participate in committees which have different roles and responsibilities.
Community Relations: Create and promote high impact donor and community engagement strategies that foster continued giving and a sense of ownership of both the Foundation and university.
Executive: Act on behalf of the full board between meetings and supervises the Foundation Executive Director.
Finance: Review quarterly financial statements, approve the annual budget, review and approve Foundation expenditures over $500, and recommend engagement of a audit firm.
Governance: Facilitate active participation of board members and serve as the organization’s nominating committee for new members.
Investment: Sets goals and guidelines for the investment of funds, including recommending managers and reviewing results.
Philanthropy: Assist the university’s fundraising staff in identifying prospects, developing funding opportunities and providing direction for effective messaging to internal and external audiences.
- The Foundation is audited externally each year and received another clean audit from The Whitlock Co. for fiscal year 2021.
- All Foundation expenses of $500 or more, included scholarship disbursements, are approved by the Finance Committee of the Foundation Board of Directors.
- The Foundation is supported by Office of Development staff members who work in close partnership with university administration, deans, faculty, and staff to secure contributions from individuals, corporations, and foundations.
- The operating budget of the Foundation and Office of Development is funded entirely by the Foundation; the university provides no budget support. The Foundation reimburses the university for salary and benefits of those employees who perform exclusively Foundation-related work.
- Over $1 million in private scholarship funds were disbursed to MSSU students in FY19, marking the first time in the Foundation’s history this mark was surpassed. The $1 million mark was surpassed again in FY20 and FY21.
- Total assets held by the Foundation has grown 18% from $35 million in 2015 to $41 million in 2020.
Nearly 400 different Foundation scholarships have been established through the Foundation. These scholarships were disbursed to nearly 700 MSSU students in FY21.
