Mission
CARDINAL PROPERTIES, INC. RECEIVES, HOLDS, MANAGES, AND DISPOSES OF REAL ESTATE, INTERESTS IN REAL ESTATE (INCLUDING CONSERVATION EASEMENTS), AND TANGIBLE AND INTANGIBLE PERSONAL PROPERTY FOR THE BENEFIT OF BALL STATE UNIVERSITY FOUNDATION.
Public Charity
Cardinal Properties
Cardinal Properties is a Public Charity headquartered in Muncie, IN. Financial data from the 2025 filing: $1.3M revenue, $579K expenses, $5.2M total assets. IRS filings disclose 2 grants awarded by this foundation, totaling roughly $1.7M.
EIN: 201872207
Muncie, IN
Private Grantmaking Foundations
NTEE: T20
Latest filing: 2025
Total Revenue$1.3M
Total Expenses$579K
Total Assets$5.2M
Grants Given2
Grant Total$1.7M
Filing Years2021–2025
Where $100 goes at Cardinal Properties
How Cardinal Properties divides every $100 it spends, from its own Form 990 filings, averaged across 9 years.
$98
Programs
the work itself
$2
Management
running the organization
$0
Fundraising
none reported
No fundraising costs are reported. That often means fundraising runs through a separate affiliated organization that files its own return.
Inside the $98 for programs
$98
Holding and managing real estate properties throughout the year used for student housing by ball state university, as well as holding and managing other properties and real estate…
Source: Form 990 filings with the IRS, latest fiscal year 2025. Shares are from the organization's reported expenses. Data by Imperigo; not affiliated with the IRS.
Sample Grants Given
SEE PART IV
$169,359
SEE PART IV
$1,513,383
Showing up to 5 of 2 total records — full history available with membership.
Officers & Directors
VP for Business Affairs & Treasurer (End 02/25)
Alan Finn
Board Member
Geoffrey S Mearns
Board Member
Gregory Zimmerman
Board Member
Jean Kramer Crosby
Board Vice President
Kenneth R Briner
Ex Officio Board Member
Michael Ray
Officer compensation and complete director data available with membership.
Top Grant Purposes
Financial Trends
| Year | Revenue | Expenses | Assets |
|---|---|---|---|
| 2025 | $1.3M | $579K | $5.2M |
| 2024 | $492K | $706K | $6.6M |
| 2023 | $731K | $973K | $6.6M |
| 2022 | $343K | $1.2M | $6.9M |
| 2021 | $791K | $851K | $7.8M |
Between 2021 and 2025, reported annual revenue grew from $791K to $1.3M (+70%), with total assets most recently reported at $5.2M.
Interactive year-over-year charts and full filing details available with membership.
Grant Geography
Grants from this foundation were reported to recipients in IN.
IN
Full geographic grant map with state-by-state breakdown available with membership.