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Indiana · Nonprofit

Indiana State University Foundation Inc

Indiana State University Foundation Inc (Indiana) receives grants from 73 organizations whose IRS filings report $26,777,562 to it, the largest being LILLY ENDOWMENT INC ($16,532,327). 48 of them have funded it in more than one year.

Revenue FY2025
$19M
Funders on record
73
Grants received
$27M
Net assets
$156M
48/73 repeat funderspeak grant-dependency 47%
01What it does

What Indiana State University Foundation Inc does

Mission

The foundation's mission is to secure and preserve private resources for the betterment of indiana state university and its students, while providing donors with opportunities to witness and experience the results of their philanthropy.

As stated on its FY2025 Form 990.

Programs

  1. Restricted and designated expenditures - gifts received for specified purposes and expended for these purposes which provide support to educational and athletic programs including the bailey college of engineering and technology, college of arts and sciences, scott college of business, bayh college of education, and college of health and human services.

    $10,942,495 spentof which $10,942,495 as grants$1,454,620 earned by the program
    80% of program spending
  2. Provided 1,620 scholarships and awards to 1,108 indiana state university students.

    $2,712,253 spentof which $2,712,253 as grants
    20% of program spending
  3. Alumni association provides outreach and events which encourage former isu students to remain involved with isu.

    $100,281 spent
    1% of program spending

The 3 programs described on its FY2024 Form 990, listed largest first by expense. Program spending in total: $13,755,029.

02The organization over time

The organization over time

Each line starts at 100 in 2017, so what you read is the shape rather than the size: 150 means half as much again as 2017, 50 means half. The number beside each label in the key is where it ended. The shaded band is where the middle 50% of its peers' revenue would sit, given their growth.

100 = 20172017 Revenue 100 ($16M) Expenses 100 ($7.3M) Net assets 100 ($70M)2018 Revenue 61 ($9.5M) Expenses 98 ($7.2M) Net assets 106 ($74M)2019 Revenue 60 ($9.5M) Expenses 105 ($7.7M) Net assets 112 ($78M)2020 Revenue 61 ($9.6M) Expenses 91 ($6.6M) Net assets 116 ($81M)2021 Revenue 190 ($30M) Expenses 81 ($5.9M) Net assets 165 ($115M)2022 Revenue 137 ($22M) Expenses 137 ($10M) Net assets 152 ($106M)2023 Revenue 103 ($16M) Expenses 127 ($9.3M) Net assets 175 ($122M)2024 Revenue 136 ($21M) Expenses 153 ($11M) Net assets 204 ($142M)2025 Revenue 123 ($19M) Expenses 213 ($16M) Net assets 223 ($156M)
'17'18'19'20'21'22'23'24'25
Revenue (123)Expenses (213)Net assets (223)Peer revenue range

Balance sheet

Total assets and total liabilities at each year end, in dollars. The largest one-year move in total assets was 2020 to 2021, from $88M to $121M (+37%).

$78M
$81M
$85M
$88M
$121M
$115M
$130M
$150M
$164M
'17'18'19'20'21'22'23'24'25
Total assetsTotal liabilities

How it's funded, over time

Each bar is one year's revenue split into where it came from, and every bar is the same height — these are shares, not amounts, so a year that raised twice as much looks the same size. Hover a bar for the split.

2017
2018
2019
2020
2021
2022
2023
2024
2025
ContributionsProgram revenueInvestmentOther

59% of Indiana State University Foundation Inc’s revenue is contributions — more donation-reliant than the typical peer (23% for the typical peer).

This organization
Typical peer · 4,254 orgs

Surplus & reserves

Operating surplus or deficit each year, and months of liquidity in hand. 0 of the last 9 reported years ran a deficit.

$8.4M
’17
$2.4M
’18
$1.8M
’19
$2.9M
’20
$24M
’21
$12M
’22
$6.9M
’23
$10M
’24
$3.9M
’25
6.8
months of
reserve

Leadership and staff

The officers, directors, trustees and key employees listed on each return. Joined and no longer listed compare each filing with the year before, matching people by surname and first initial; a year after a gap, or a roster under three people, has no comparison.

Chief executive

Andrea Angel

CEO

As listed on its FY2025 Form 990.

'17'18'19'20'21'22'23'24'25
Listed463732434143383836
Joined·+6+9+24+6+17+8+6+5
No longer listed·1514138151367
03Who funds it

Who funds it, year by year

2017 → 2023: the base broadened from 20 funders to 34 funders, grant income rose $715k → $7.5M.

27 of 73 of your funders are donor-advised or pass-through sponsors (tagged DAF) — 11% of grant dollars received. That money is really individual donors directing a sponsor; the institutions to cultivate are the non-DAF funders.

From the IRS filings of Indiana State University Foundation Inc’s funders (the co-funder graph). Top 30 of 73 funders by total. Association, not causation. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.

How concentrated its funding is

Indiana State University Foundation Inc leans on a few funders — its largest provides 62% of grant income and the top three 76%; half comes from just 1 funder.

the vertical line marks half of all grant income — 1 funder to its left

62%
largest funder
76%
top three
~3
effective funders

Largest funder’s share by year: 2017 28% · 2018 35% · 2019 27% · 2020 70% · 2021 71% · 2022 45% · 2023 80% — growing more concentrated.

“Effective funders” = inverse Herfindahl index (1 / Σ shareᵢ²) — the number of equal-sized funders that would give the same concentration. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.

How long its funders stay

46% of Indiana State University Foundation Inc's funders are still giving 3 years after their first grant; 66% give in more than one year at all.

first grant+1y+2y+3y+4y+5y+6y

Share of funders still giving k years after their first recorded grant, pooled across every acquisition cohort. A funder counts as retained in a year only if it made a grant that year. Measured to FY2023, the last fiscal year that has finished arriving — a funder cannot be counted as lapsed in a year most filers have not reached.

Where its funders are

90% of Indiana State University Foundation Inc's grant income comes from Indiana funders.

MN
IL
NY
NV
IN
PA
NJ
CT
MO
AZ
TN
NC
TX

In-state vs out-of-state, by year

’17
’18
’19
’20
’21
’22
’23
Indiana out of state home

Funder states come from each funder’s own filing. $2.9M arriving through sponsors registered in 15 states is excluded from the map and the split above: a sponsor holds money on a donor’s behalf, so its registered address would place those dollars somewhere no donor need ever have been. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.

04Its place in the field

Against its field

Indiana State University Foundation Inc runs a healthier operating margin than three-quarters of the 3,794 education nonprofits its size.

Operating margin20% · top quartile
Months of reserve6.8mo · top quartile
Revenue growth (annualized)3% · bottom quartile

this organization peer median middle 50% of peers· 3,794 education nonprofits $10M–$100M, FY2025

Organizations like Indiana State University Foundation Inc

Organizations whose mission and program text most resemble this one, by semantic similarity over every organization in the US filings — the closest peers, and often the clearest route to shared or prospective funders.

In Indiana

Nationally

05Profile & governance

Read directly from this organization’s own Form 990, as neutral context.

Where the money goes

88% of spending goes to programs.

Program 88%Management 10%Fundraising 2%

Governance

32
board members
97%
independent
✓Conflict-of-interest policy✓Whistleblower policy✓Document retention✓Board reviewed the 990✓Audited financials

Public support

45%

Share of support from the public (Schedule A) — the basis for its public-charity status.

Footprint & structure

Files a return copy in 29 states

NH
ND
MN
IL
WI
MI
NY
MA
OR
IN
PA
NJ
RI
CA
KY
WV
VA
MD
NM
KS
AR
TN
NC
SC
HI
MS
AL
GA
FL

Part of a family of 2 related entities

  • Indiana State University · exempt
  • Charitable Remainder Trusts (9) · corp_trust

Screen this organization

A dated, signed PDF of the compliance screen for Indiana State University Foundation Inc: IRS status (Business Master File, Publication 78, auto-revocation), the OFAC sanctions lists, the Internal Revenue Bulletin, and California registration, with the Rev. Proc. 2018-32 §8.01 reliance elements stated element by element. Generated from the current files at the moment you download it.

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Screens are triage, not determinations; a source that cannot be read reports not screened, never clear. Screen this nonprofit · How the screen works · on the API as GET /api/screening/{ein}?format=pdf

Questions and answers

Who funds Indiana State University Foundation Inc?
Indiana State University Foundation Inc (Indiana) receives grants from 73 organizations whose IRS filings report $26,777,562 to it, the largest being LILLY ENDOWMENT INC ($16,532,327). 48 of them have funded it in more than one year.
How many funders does Indiana State University Foundation Inc have?
IRS filings report 73 organizations giving $26,777,562 in grants to Indiana State University Foundation Inc, 48 of which have funded it in more than one year.
Who is the largest funder of Indiana State University Foundation Inc?
LILLY ENDOWMENT INC is the largest funder on record, with $16,532,327 in grants. The full list of funders is on this page.
How can an organization like Indiana State University Foundation Inc find more funders?
Start with the funders already giving here, then look at the foundations that back similar organizations in Indiana. The funding by cause and by state pages list the largest funders for a given area and how to approach them.

These figures are read directly from IRS Form 990 / 990-PF e-file XML: this organization’s own return for FY2025 (financials across 2017–2025), and the filings of 73 funders that report grants to it. “On record” means captured in the filings we have parsed — a funder that does not e-file, or whose grant detail is not itemized, will not appear. Filings run roughly 12–24 months behind. Trends on this page end at FY2023, the last fiscal year that has finished arriving; later years are shown and marked, and move no figure. Data on this page was exported October 22, 2026. What this page cannot tell you · view filing