Southwest Minnesota State University Foundation logo

Southwest Minnesota State University Foundation

Public charity · Grantmaker Marshall, MN EIN: 23-7108470 Website

To promote southwest Minnesota state university and raise money for scholarships for students.

Key facts about Southwest Minnesota State University Foundation

In short: Southwest Minnesota State University Foundation gave $1.2M across 1 grant in 2025 (avg $1.2M), mostly in Minnesota. Source: 2025 IRS Form 990.

EIN
23-7108470
Latest 990 filing
Form 990, 2025
Annual giving (2025)
$1,199,624
Grants made (2025)
1
Average grant
$1,199,624
Median grant
$1,199,624
Total assets
$40,271,058
Primary geography
Minnesota (100% of itemized 2025 grant dollars)

Data from IRS Form 990, 2025; updated September 2026.

Financial Overview

From 2025 IRS Form 990 · View filing

Total Assets

$40.3M

+31.2% YoY

Annual Giving

$1.2M

+45.1% YoY

Grant Count

1

+0.0% YoY

Avg Grant Size

$1.2M

+45.1% YoY

How Southwest Minnesota State University Foundation gives

  • Giving grew 27% from 2022 to 2025. Method

From the foundation's IRS Form 990 filings. Methodology.

About Southwest Minnesota State University Foundation

Based on IRS filings

Southwest Minnesota State University Foundation is a public charity focused on Education, based in Marshall, MN. IRS filing data is available from 2021 through 2025. As of 2025, the organization holds $40.3M in total assets. In 2025, it awarded 1 grant totaling $1.2M. Net investment income was $1.3M.

Focus Areas

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

1state

Share of the 2025 grant dollars on its one itemized grant.

States

Cities

Marshall

Giving Over Time

Total grant dollars and number of grants per year

$0$500K$1M$1.5M1 grant2021 1 grant2022 1 grant2023 1 grant2024 1 grant2025

From 2021 to 2025, annual grant giving ranged from $471K (2021) to $1.2M (2025). In 2025 it made 1 grant totaling $1.2M.

Grant Insights

How this funder distributes its grants

Top Recipients

Top recipient in 2025

Southwest St Univer: $1.2MSouthwest St Univer$1.2M

The largest 2025 recipient was Southwest St Univer ($1.2M).

Grant Size Distribution

5 grants across all recorded years

<$50K$50–100K$100–250K1$250–500K3$500K–1M1$1–5M$5M+

The most common grant size was in the $500K–1M range: 3 grants of 5 (60%).

Giving History

Grant recipients and amounts by year

RecipientPurposeAmount
Southwest St Univer Marshall, MNUniversity Support$1,199,624

Financial History

Multi-year comparison from IRS filings

Revenue
Expenses
Net Investment Income
$0$2.5M$5M$7.5M$10M2021 2022 2023 2024 2025
Metric202520242023
Total Assets$40,271,058$30,694,384$28,630,680
Revenue$5,428,210$6,333,631$7,721,710
Expenses$4,234,837$3,746,514$2,654,701
Net Investment Income$1,297,344$2,877,120$547,906

Data update history

When this profile's IRS filing data changed on Grantable

  1. Updated Form 990 for fiscal year 2021 (received by the IRS November 12, 2021)
  2. IRS filings on file for fiscal years 2021–2025

Leadership & Key People

Officers and directors from IRS filings

Southwest Minnesota State University Foundation is led by Brad Bacon, President since 2024 (on filings since 2021); none of the 20 officers listed in 2025 report compensation.

Officers on the 2025 filing

  • Brad Bacon

    President

    Director → 1st Vice President, 2022

    1st Vice President → President, 2024

    On filings since 2021

    1 hr/week

    No compensation reported

  • Duane Carrow

    Director

    On filings since 2021

    No compensation reported

  • Joe Roers

    Director

    On filings since 2021

    No compensation reported

  • Julie Bleyhl

    Director

    On filings since 2021

    No compensation reported

  • Neal Wahlman

    Director

    On filings since 2021

    No compensation reported

  • Tina Cartwright

    Director

    On filings since 2021

    No compensation reported

  • Jason Hoffman

    Director

    On filings since 2022

    No compensation reported

  • Tyler Bowen

    Director

    On filings since 2022

    No compensation reported

  • Gary Range

    Director

    On filings since 2023

    No compensation reported

  • Steve Binder

    Director

    On filings since 2023

    No compensation reported

  • Tom Sahlstrom

    Director

    On filings since 2023

    No compensation reported

  • Al Anderson

    Director

    New on the 2025 filing

    No compensation reported

  • Jasmine Desmet

    Director

    New on the 2025 filing

    No compensation reported

  • Mario Hernandez

    Director

    New on the 2025 filing

    No compensation reported

  • Neil Kruse

    Director

    New on the 2025 filing

    No compensation reported

  • Summer Day

    Director

    New on the 2025 filing

    No compensation reported

  • Cindy Verschaetse

    Secretary

    Director → 2nd Vice President, 2023

    2nd Vice President → Secretary, 2025

    On filings since 2021

    No compensation reported

  • Dave Werpy

    Past President

    President → Past President, 2024

    On filings since 2021

    No compensation reported

  • Jerry Bly

    2nd Vice President

    Past President → Director, 2024

    Director → 2nd Vice President, 2025

    On filings since 2021

    No compensation reported

  • Kristi Mukomela

    1st Vice President

    Secretary → 1st Vice President, 2025

    On filings since 2021

    No compensation reported

Former officers (16)
  • Former: Brian Knochenmus (2021–2024) — Director
  • Former: Dorene Kronke-McCourt (2021–2024) — Director
  • Former: Lee French (2021–2024) — Director
  • Former: Timothy Burns (2021–2024) — Director
  • Former: Jim Fuhrmann (2022–2024) — Director
  • Former: Robert Gunther (2022–2024) — Director
  • Former: Jefferson Lee (2021–2023) — Director - N
  • Former: Brad Winkelman (2021–2022) — Director
  • Former: Linda Baun (2021–2022) — Director - N
  • Former: Ann Roemen (2021) — 1st Vice President
  • Former: Daniel Koster (2021) — Director
  • Former: Diane Taylor (2021) — Director
  • Former: Jim Kontz (2021) — Director
  • Former: Ken Mukomela (2021) — Director
  • Former: Valerie Swanson (2021) — Director
  • Former: Vicky Brockman (2021) — Director - N

Data from IRS Form 990 filings, 2021–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.

Frequently asked questions about Southwest Minnesota State University Foundation

How much does Southwest Minnesota State University Foundation give each year?

Southwest Minnesota State University Foundation gave $1.2M across 1 grant in 2025, according to its 2025 IRS Form 990. In 2024 it gave $827K across 1 grant.

How large is Southwest Minnesota State University Foundation?

Southwest Minnesota State University Foundation reported $40.3M in total assets on its 2025 IRS Form 990. Its revenue that year was $5.4M.

What is Southwest Minnesota State University Foundation?

Southwest Minnesota State University Foundation is a public charity focused on Education, based in Marshall, MN. It holds $40.3M in total assets as of 2025.

Where does Southwest Minnesota State University Foundation operate?

Southwest Minnesota State University Foundation has awarded grants in Minnesota.

What is Southwest Minnesota State University Foundation's EIN?

Southwest Minnesota State University Foundation's EIN (Employer Identification Number) is 23-7108470. IRS Form 990 filing data is available on this page for 2021–2025.

Data last updated September 2026. Sourced from IRS Form 990 filings.

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