2023-11-15T08:06:28-06:00 2022-12-31 450250958 Eide Bailly LLP 800 Nicollet Mall Ste 1300 Minneapolis MN 554027033 990 2022-01-01 237120898 North Dakota State University Foundation NORT 7012316800 1241 N University Drive Fargo ND 58102 Allyson Peterson Sr VP of Fin & Operation/CFO 7012316820 2023-10-23 1 Allyson Peterson XXX-XX-XXXX 1 Deb Nelson CPA P01264758 6122536500 2023-11-14 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z NDSU Foundation NDSU Foundation and Alumni Association John R Glover 1241 N University Drive Fargo ND 58102 117697839 0 X www.ndsufoundation.com X 1971 ND Building enduring relationships that maximize advocacy and philanthropy to support NDSU. 11 11 58 345 434028 432626 157720874 31710302 967067 993494 40912564 26031660 -415538 -564767 199184967 58170689 18959308 44592776 0 0 5108697 5670226 203165 172247 3598395 3824679 5062374 28095849 55497623 171089118 2673066 630421600 575494411 34181680 40784715 596239920 534709696 Building enduring relationships that maximize advocacy and philanthropy to support North Dakota State University. 0 0 35283245 35283245 Grants to NDSU for buildings, equipment, research, lectures, faculty development, supplies, travel and other departmental needs and activities not funded through state appropriations or student tuition fees. 9309531 9309531 Scholarships and awards to students enrolled at North Dakota State University selected by independent scholarship committees. 1349421 1027112 Alumni records, newsletters and special events such as Homecoming, city alumni/student exchanges. Sponsor University programs such as Harvest Bowl and Celebration of Excellence. 45942197 1 1 0 1 0 0 0 1 1 1 1 1 0 0 1 1 0 1 0 0 1 0 0 1 1 0 0 1 0 1 1 0 0 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 0 0 1 90 0 1 58 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 11 11 0 0 0 0 0 1 0 1 0 0 0 1 1 1 1 1 1 1 1 0 MN CA AK MD MA MI NH SC UT VA NJ X X Allyson Peterson CFO 7012316820 1241 University Drive N Fargo ND 58102 John R Glover President & CEO 60.00 X 375608 0 52175 Allyson Peterson Sr. VP of Finance & Operation/CFO 40.00 X 196684 0 43149 Monique Anderson Sr. VP of Development 40.00 X 184141 0 46791 Gail Dancer VP of Information Services 40.00 X 138971 0 36703 Lisa Otterson Managing Director of Development 40.00 X 121950 0 44838 Randy Schmeling Sr. Director of Development 40.00 X 121599 0 38059 Sara Wald Sr. Director of Development 40.00 X 122717 0 27885 Jennifer Hopkins Chair Jan- June)/Board Member (July-Dec) 5.00 X X 0 0 0 Stacey Ackerman Treasurer Jan- June)/Chair (July-Dec) 4.00 X X 0 0 0 Neal Fisher Vice Chair Jan- June)/Board Member (July-Dec) 3.00 X X 0 0 0 Dave Goodin Board Member Jan- July)/Vice Chair (July-Dec) 2.00 X X 0 0 0 Dave Olig Secretary 2.00 X X 0 0 0 Mike Vipond Treasurer (July-Dec) 2.50 X X 0 0 0 Dan Dunn Board Member (Jan-June) 2.00 X 0 0 0 Dave Maring Board Member 2.00 X 0 0 0 Keith Peltier Board Member 2.00 X 0 0 0 Barb Jones Board Member 5.00 X 0 0 0 Jim Hambrick Board Member (Jan-June) 0.50 X 0 0 0 Chuck Ulmer Board Member (July-Dec) 2.00 X 0 0 0 Hugh McDonald Board Member (July-Dec) 1.60 X 0 0 0 1261670 0 289600 10 0 1 0 SEI PO Box 1099 Oaks PA 19456 Investment Management 2037201 Blackbaud PO Box 930256 Atlanta GA 311930256 Donor & Financial Software Service 226819 Ruffalo Noel Levitz 1025 Kirkwood Pkwy SW Cedar Rapids IA 52404 Professional Fundraising 172247 Pioneer LLC 4041 36th Ave S Fargo ND 58104 Housing Demolition 155269 LiveWire Entertainment Media Services 18 135 St N Fargo ND 58102 Event Audio/Visual Services 147519 5 583767 31126535 5828153 31710302 Alumni Records Fees 611710 863638 863638 Program Event Revenue 611710 69327 69327 Miscellaneous Program Income 611710 60529 60529 993494 24391038 423338 23967700 176187 176187 1953082 2619989 -666907 -666907 -666907 58172147 56531525 1640622 1640622 1640622 257281 583767 375636 -118355 -118355 33618 0 33618 33618 Advertising 900099 5100 5100 Alumni Insurance, Net 524298 4867 4867 Alumni Travel 561500 723 723 10690 58170689 1027112 434028 24999247 44592776 44592776 669893 107262 455369 107262 3630627 360555 1418279 1851793 328517 27663 134786 166068 742376 79946 349970 312460 298813 28886 126634 143293 119182 26115 55631 37436 90504 90504 46270 46270 172247 172247 2126802 2126802 5991 5991 105911 95104 7138 3669 381133 153410 123915 103808 301987 57542 103785 140660 218012 31153 109010 77849 333366 35400 79001 218965 177121 419 175427 1275 246584 246584 182518 26082 91259 65177 108239 19170 42208 46861 Event Expense 376210 292466 48932 34812 Public Relations/Donor 147815 8248 24877 114690 Income Taxes 83893 83893 Dues & Subscriptions 10639 10569 70 197 197 55497623 45942197 5957031 3598395 10848401 7351267 65230793 54954377 590169 559348 647572 582400 314490 318647 58241398 29362126 29670489 28879272 393561985 324856006 127671400 156399142 1886301 1593952 630421600 575494411 2190191 3213719 212073 262753 27526 39080 10285000 9610000 1286710 1049460 10417605 18145890 9762575 8463813 34181680 40784715 X 38520415 30280246 557719505 504429450 596239920 534709696 630421600 575494411 X 2673066 -65243971 1040681 X 0 1 X 1 0 X 40384574 87899445 14826317 157720874 31710302 332541512 40384574 87899445 14826317 157720874 31710302 332541512 156916714 175624798 15549746 15055641 12728609 33642247 26520307 103496550 256358 483902 331109 274872 433626 1779867 437817929 5671518 0.40110 0.39490 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1308 15537 16845 45925352 45942197 1000000 250000 0 0 1000000 1000000 1500000 16845 16845 250000 250000 375000 1308 1308 0 89447 X X 1 0 1 X 437026056 17790668 -35335419 6627585 2310796 4677717 405865207 273318499 134231916 42985031 5757850 3394733 4356807 437026056 248636124 10921068 24820445 5174314 2410291 3474533 273318499 208172700 19838146 30504617 4819476 2125370 2934493 248636124 206293111 15788641 -4115595 4324523 2747102 2721832 208172700 0.90000 0.10000 0 0 1324795 1455987 2780782 5851378 42694808 23634780 24911406 3476515 3476515 0 2552410 1973455 578955 885505 277376 608129 28879272 Partnership Funds 58146108 F Real Estate Fund 29535510 F Global hedge funds 51469371 F Equity Method Investments 17248153 F 156399142 Gift Annuities Payable 2942672 Trusts Payable 5198122 Due To Fossum 87959 Special Assessments Payable 235060 8463813 X Part III, Line 4: The Foundation has a bronze statue and wall hanging, depicting the bison mascot and symbol of NDSU. Items are on public display to promote the University. Collection of art is displayed on campus to promote the visual arts and used in study for related majors. Part IV, Line 2b: Cash and cash equivalents held for others consist of funds held and invested for various organizations. Investments held for others represent the portion of charitable remainder unitrusts for which the Foundation holds the assets, but is not the beneficiary. Part V, Line 4: The endowment funds held by North Dakota State University Foundation have been established to follow donors' wishes to provide an ongoing reliable source of funding to North Dakota State University for student scholarships, faculty support, departmental support and organization operations. From time to time, certain donor-restricted endowment funds may have fair values less than the amount required to be maintained by donors or by law (underwater endowments). The Foundation has interpreted UPMIFA to permit spending from underwater endowments in accordance with prudent measures required under law. At December 31, 2022, funds with original gift values of $127,549,910, fair values of $117,275,233, and deficiencies of $10,274,677 were reported in net assets with donor restrictions. Part X, Line 2: The Foundation believes that it has appropriate support for any tax positions taken affecting its annual filing requirements, and as such, does not have any uncertain tax positions that are material to the financial statements. The Foundation would recognize future accrued interest and penalties related to unrecognized tax benefits and liabilities in income tax expense if such interest and penalties are incurred. The Foundation files an Exempt Organization Business Income Tax Return (Form 990-T) with the IRS to report its unrelated business taxable income. Central America and the Caribbean - 0 0 Investments 51469000 0 0 0 0 0 0 51469000 0 51469000 1 0 1 1 1 0 Part III Accounting Method: Schedule F, Part IV: The Foundation reviews its direct and indirect investments during the tax period for determining required foreign filings. The Foundation makes direct and indirect transfers to foreign corporations and foreign partnerships. The Foundation would file Form 926 or Form 8865 if the transfers met the requirements for filing. The Foundation's transfers to foreign partnerships did not require filing Form 8865. The Foundation has ownership interests in foreign corporations and foreign partnerships. The Foundation would file Form 5471 or Form 8865 if the ownership met the requirements for filing. The Foundation's ownership in foreign corporations did not require filing Form 5471. The Foundation's ownership in foreign partnerships did not require filing Form 8865. The Foundation invests in partnerships that hold direct or indirect interests in passive foreign investment companies (PFICs). The Foundation would file Form 8621s for underlying investments that generate unrelated business income. The Foundation would not file Form 8621s where the investment partnerships have properly filed Form 8621s, or where the underlying investments did not generate any unrelated business income. The Foundation did not require filing Form 8621. X X X X X 1 Ruffalo Noel Levitz PO BOX 718 Des Moines IA 503030718 Telemarketing & Direct Mail 0 135962 172247 -36285 135962 172247 -36285 AL AK AZ AR CA CO CT DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY BBB Auction 630139 503913 126226 126226 27091 BBB Dinner 95510 0 95510 7385 68816 43674 11447 2 115399 79854 35545 1017 41466 37678 10836 841048 583767 257281 126226 8402 110282 81352 49374 375636 -118355 1 North Dakota State University 1340 Administration Ave Fargo ND 58102 456002439 NDSU 44592776 0 Cash grants provided for student scholarships, faculty support, departmental support, and capital projects. 1 0 Part I, Line 2: Grants are paid to or at the direction of North Dakota State University for scholarships, departmental expenses, grants, and buildings and equipment. We provide grants in accordance with applicable donor restrictions. The use of these grant funds are monitored throughout the year through the Request of Payment process and scholarship process. In addition, we rely on the University to monitor appropriate use of funds and perform internal testing through our Donor Compliance Services department. X X X X X 0 0 0 0 0 0 0 0 0 John R Glover President & CEO 340267 0 25000 0 10341 0 34768 0 18675 0 429051 0 0 0 Allyson Peterson Sr. VP of Finance & Operation/CFO 192346 0 4038 0 300 0 19835 0 24325 0 240844 0 0 0 Monique Anderson Sr. VP of Development 179387 0 3854 0 900 0 17793 0 29988 0 231922 0 0 0 Gail Dancer VP of Information Services 135716 0 2655 0 600 0 13572 0 23974 0 176517 0 0 0 Lisa Otterson Managing Director of Development 121050 0 0 0 900 0 11720 0 34644 0 168314 0 0 0 Randy Schmeling Sr. Director of Development 118274 0 2425 0 900 0 11361 0 27426 0 160386 0 0 0 Sara Wald Sr. Director of Development 119225 0 2592 0 900 0 12276 0 16362 0 151355 0 0 0 A North Dakota State University Foundation 237120898 2010-12-17 5650000 Payment of loan incurred for renovation of bldg for classrooms and offices 0 1 0 B City of Fargo ND 456002069 307522BC5 2012-05-23 12145894 To refund bonds issued 11/29/2007 0 0 0 A 2795000 5650000 31489 5618511 2010 0 0 1 1 B 5390894 12145894 162239 11983655 2012 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 0 0 0 0 0 1 B 0 0 1 0 0 0 0 0 1 A 1 B 1 X 2 13333 Appraised Value X 5 2904 Appraised Value X 48 5246797 Average High/Low X Grain 3 450979 Quoted Market Price X Various Household Goods for Auction 91 79190 Cost/FMV X Educational Equipment 1 34950 Cost/FMV 3 0 1 0 Form 990, Part VI, Section A, line 1a The President of North Dakota State University and the President and CEO of the North Dakota State University Foundation shall serve as ex-officio, non-voting members. Form 990, Part VI, Section A, line 7a A group known as the "Trustees" shall have authority to elect eleven individuals from among its members to serve on the Executive Governing Board. Form 990, Part VI, Section A, line 8b There are no committees with authority to act on behalf of the governing body. Form 990, Part VI, Section B, line 11b The Form 990 was reviewed by the Finance and Audit Committee and the Executive Governing Board before filing. Form 990, Part VI, Section B, line 12c Foundation officers, Executive Governing Board (EGB) members, and staff are required to report any potential conflicts of interest to the Chair of the EGB and the Foundation's President and CEO for review and possible remedial action. Such action may include holding the information on file, informing the EGB of the appearance of a conflict of interest, or requiring the EGB member to either cease and desist the activity or to resign from the Foundation EGB. Form 990, Part VI, Section B, line 15 The process for determining compensation for the President and CEO is the responsibility of the Foundation's Compensation Committee, comprised of the officers of the Board. The Committee annually reviews mutually determined goals and objectives of the incumbent. Salary adjustments are based on a review of similar positions using competitive market compensation paid by other regional and national foundations with similar endowment and staff size. In making salary recommendations, the committee takes advantage of information compiled annually by various regional and national salary surveys within the industry. In turn, the President and CEO evaluates four direct reports, one of which is the CFO, using mutually agreed to goals and objectives for each person. The President and CEO's recommendation on salary is forwarded to the Committee for review. As part of the annual budget, all salaries are then approved, in turn, by the Finance & Audit Committee and the Executive Governing Board. Form 990, Part VI, Section C, line 19 The Organization's governing documents, conflict of interest policy and financial statements are available upon request. In addition, the most recent audited financial statements are available on our website. Form 990, Part XI, line 9: Change in Split Interest Agreements 1,020,681. Fossum Transfer 20,000. Pathway Ventures LLC 1241 University Drive Fargo ND 58102 872208599 Student Venture Capital ND 0 0 North Dakota State University Foundation Fossum Foundation Inc 1241 University Dr N Fargo ND 58102 456013302 Supporting Organization ND 501(c)(3) Line 12a, I North Dakota State University Foundation 1 Charitable Remainder Unitrusts (24) Charitable Trust ND N/A T 1 Charitable Remainder Annuity Trust (1) Charitable Trust ND N/A T 1 Perpetual Trusts (2) Charitable Trust MN N/A T 1 Perpetual Trust (1) Charitable Trust ND N/A T 0 0 0 0 0 1 0 0 0 0 0 0 1 0 0 0 0 1 0 1