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Ball State University Foundation
The Ball State University Foundation was established in 1951 to manage private gifts for Ball State University. It operates as the primary fundraising and...
Ball State University Foundation
The Ball State University Foundation was established in 1951 to manage private gifts for Ball State University. It operates as the primary fundraising and investment vehicle for the institution, separate from but aligned with the Ball Brothers Foundation. The foundation's board is chaired by Patrick J. Alderdice. Capital is deployed across real estate, private equity, and venture commitments. Confirmed positions include Commonfund Capital Venture Partners IX, Commonfund Capital Private Equity Partners VII, and Commonfund Realty Partners I LP. The foundation also holds direct ownership through Cardinal Properties Inc in The Village Redevelopment Project, a mixed-use development that includes the Cantio Hotel and the Center for Innovation and Collaboration. Geographic exposure centers on Indiana and broader United States markets. The foundation employs 51 professionals and maintains an ESG-focused alternative investment sleeve available to designated donors. It participates in the Intentional Endowments Network and NACUBO. April 2024: Sponsored One Ball State Day, a 24-hour fundraising event for university programs. The David Owsley Museum of Art collection, valued at approximately $40 million, sits on the balance sheet as a direct holding. Governance separates the foundation's investment decisions from university operations while maintaining close coordination on strategic priorities. A student-managed investment fund of roughly $2.8 million provides hands-on portfolio experience within the endowment structure. The foundation's 100 percent ownership of Cardinal Properties Inc creates an internal vehicle for local real estate execution.
General information
Firm type
Endowment / Foundation
Year founded
1951
Location
Region
North America
Country
United States
City
Muncie
Corporate office
2800 West Bethel Avenue, Muncie, IN, United States
Principals
Lola Mauer
President
Patrick J. Alderdice
Chair of the Board of Directors
Sector focus
Frequently asked questions
Who runs investment decisions at Ball State University Foundation?
Lola Mauer serves as president. The board, chaired by Patrick J. Alderdice, oversees policy. External advisors FEG Investment Advisors and Agility provide day-to-day management.
Does Ball State University Foundation participate in fund commitments or only direct deals?
The foundation holds limited partnership interests in Commonfund Capital Venture Partners IX and Commonfund Capital Private Equity Partners VII. It also executes direct real estate investments through Cardinal Properties Inc.
What investment stages does Ball State University Foundation typically target?
The foundation maintains exposure to early-stage venture through Commonfund vehicles and startup-stage opportunities indicated in its strategy set. Real estate investments focus on development and operating assets.
How is Ball State University Foundation related to Ball State University?
The foundation serves as the primary fundraising and investment arm. It provides over $18.6 million annually to the university, including 1,800 scholarships in FY2024.
Where does the underlying wealth come from?
The endowment traces to gifts from the Ball family, whose manufacturing businesses produced glass jars and related products. Wealth origin is attributed to Lucius L. Ball, William C. Ball, Edmund B. Ball, Frank C. Ball, and George A. Ball.
Does Ball State University Foundation maintain philanthropic structures, and how are they separated?
The foundation itself functions as the philanthropic vehicle. It remains legally separate from the university while directing grants and scholarships according to donor intent and board policy.
What is Ball State University Foundation's known posture on co-investments alongside external GPs?
The foundation invests as a limited partner in Commonfund funds. Direct real estate execution occurs through its wholly owned Cardinal Properties Inc subsidiary rather than alongside external managers.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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