2024-10-23T10:26:47-05:00 2023-12-31 450250958 Eide Bailly LLP 4585 Coleman St Ste 200 Bismarck ND 58503 990 2023-01-01 450397662 Theodore Roosevelt Medora Foundation THEO 7016234444 PO Box 198 Medora ND 586450198 Emily Klym Chief Financial Officer 7016234444 2024-10-22 1 1 Lisa Chaffee CPA P00193453 7012551091 2024-10-21 2023 2024-10-15 13:58:12Z Randy Hatzenbuhler PO Box 198 Medora ND 586450198 21130590 0 X www.medora.com X 1986 ND Operating history, education & entertainment businesses that allow guests to enjoy the ND Badlands. 16 16 458 670 -70757 0 7010462 7600308 8124920 8902726 208748 1510750 -1276597 5983 14067533 18019767 15000 22500 0 0 4848074 5861100 0 0 1178334 5323730 5906916 10186804 11790516 3880729 6229251 80037493 91131933 7098208 10396665 72939285 80735268 X Preserve the experience of the Badlands, the historic character of Medora and the heritage of Theodore Roosevelt and Harold Schafer; Present opportunities for our guests to be educated and inspired through interpretive programs, museums and attractions that focus on the Old West, our patriotic heritage, and the life of Theodore Roosevelt in the Badlands; Serve the traveling public, providing for their comfort while visiting historic Medora, the Badlands and Theodore Roosevelt National Park. 0 0 7798790 22500 8902726 The Organization educates visitors about the historical importance of the Medora area through the operation of museums, shows, and a musical. The Medora Musical is a seasonal historical and patriotic performing arts program and is the single largest program in support of the Theodore Roosevelt Medora Foundation's primary exempt purpose. In 2023, the Medora musical educated, informed, and entertained approximately 113,000 guests. To help serve and provide for the comfort of the traveling public, a variety of food service outlets are operated, most notably the Pitchfork Steak Fondue. Volunteers are a critical part of making operations successful in Medora. During 2023, 670 individuals filled 803 volunteer slots to help keep everything open and operating.In addition to the significant role played by volunteers, a seasonal workforce is also critical to the organization's success. Many college students fill these roles as the organization offers a college-like campus feel through its facilities and social opportunities. College students attending domestic colleges or universities are eligible for a $1,500 Tjaden Scholarship through the Tjaden Educational Assistance Program. All seasonal employees are eligible for the $500 Larson Ambassador Award, which is paid as a taxable bonus. In 2023, fifteen Tjaden Scholarships were issued to thirteen domestic student employees and two international student employees, all attending domestic colleges or universities. Thirty-three Ambassador Awards were paid out in 2023. 7798790 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 0 0 1 83 0 1 458 1 1 1 0 0 0 0 1 1 0 0 0 1 0 0 0 X 16 16 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 AL AR CA CT FL GA HI IL KS KY MD MA MI MN MS NH NJ NM NY NC ND OR PA RI SC TN TX UT VA WV WI X Emily Klym 7013948896 PO Box 198 Medora ND 586450198 Tim O'Keefe Chair of Board 3.00 0.50 X X 0 0 0 Levi Andrist Vice Chair of Board 2.00 0.00 X X 0 0 0 Michael Zaun Secretary/Treasurer 2.00 0.50 X X 0 0 0 Barry Schafer Director 1.00 0.00 X 0 0 0 Byron Snider Director (As of Feb 23) 1.00 0.00 X 0 0 0 Don Clement Director 1.00 0.00 X 0 0 0 Doug Mark Director 1.00 0.00 X 0 0 0 Jody Hodgson Director 1.00 0.00 X 0 0 0 Kate Black Director (As of Feb 23) 1.00 0.00 X 0 0 0 Kathy Neset Director 1.00 0.00 X 0 0 0 Kristi Hanson Director 1.00 0.00 X 0 0 0 Laurel Nelson Director 1.00 0.00 X 0 0 0 Linda Pancratz Director 1.00 0.00 X 0 0 0 Medora Sletten Lauf Director 1.00 0.00 X 0 0 0 Michelle Mongeon Allen Director 1.00 0.00 X 0 0 0 Rolf Sletten Director 1.00 0.00 X 0 0 0 Tom Gerhardt Director (Until Jan 23) 1.00 0.00 X 0 0 0 Bruce Furness Director (Until Feb 23) 1.00 0.00 X 0 0 0 Tracy Martin Director (Until Feb 23) 1.00 0.00 X 0 0 0 Twylah Blotsky Director (Until Feb 23) 1.00 0.00 X 0 0 0 Rich Becker Director (Until Feb 23) 1.00 0.00 X 0 0 0 Randy Hatzenbuhler President 40.00 0.00 X 229562 0 49420 Emily Klym Chief Financial Officer 40.00 0.00 X 105144 0 22889 Joe Wiegand Theodore Roosevelt Reprisor 40.00 0.00 X 172127 0 28104 Clarence Sitter Chief Operating Officer 40.00 0.00 X 138661 0 56476 Nathan Huntington - Chief Projects, Strategy, and Facilities Officer 40.00 0.00 X 138137 0 29482 Lyubomyr Shkandriy Hospitality Director 40.00 0.00 X 108827 0 35087 Matthew Hills Development Director 40.00 0.00 X 106853 0 17322 999311 0 238780 8 0 1 0 StageWest Entertainment 2500 Hwy 88 St Anthony MN 58760 Musical Production 919261 Inside & Out LLC 4940 Hwy 1806 Mandan ND 58554 Construction 315574 Lawrence & Schiller Inc 3932 S Willow Ave Sioux Falls SD 57105 Avertising Agency 298557 Majestic Oaks Holding 211 Naples Dr Duncanville TX 75116 Construction 249808 Winn Construction PO Box 1141 Dickinson ND 58601 Construction 130796 7 352881 76818 7170609 421749 7600308 Activities 713990 8266740 8266740 Management Fees 561499 475000 475000 160986 135294 25692 8902726 651191 651191 4199 4199 2918540 2943783 -25243 -25243 -618007 592764 895373 0 35814 895373 -35814 859559 -17242 876801 94453 352881 131226 -36773 -36773 Interest From a Controlled Entity 522200 63800 63800 63800 18019767 8402034 -70757 2088182 22500 22500 418343 273541 144802 4242104 2743334 929694 569076 109790 77150 19588 13052 514762 322208 119818 72736 576101 342575 146357 87169 33163 6770 26393 35555 34855 700 19849 19476 373 463373 297222 122237 43914 300954 299195 527 1232 463053 442255 20798 493041 245307 198595 49139 738607 520721 197474 20412 387442 134832 147224 105386 113844 7664 106180 1105380 738791 350538 16051 250389 208545 38106 3738 Theatrical Contracts 1032056 1012566 1552 17938 Repairs and Maintenance 266879 237842 29037 Taxes and Licenses 147158 125695 21463 Income taxes -36000 -36000 92173 49618 30737 11818 11790516 7798790 2813392 1178334 5621757 4529344 4656300 4277922 55943 184777 58533 58686 314173 222709 90415235 37687136 51512887 52728099 14627571 20105509 405480 269094 2784849 8755793 80037493 91131933 937765 1287009 1067953 1032154 4720190 4065576 372300 4011926 7098208 10396665 X 57866732 61337802 15072553 19397466 72939285 80735268 80037493 91131933 X 6229251 524429 875529 166774 X 0 1 X 1 0 X 5622920 5606699 11749054 7010462 7600308 37589443 8549950 5245102 8194108 7765492 8402034 38156686 14172870 10851801 19943162 14775954 16002342 75746129 615163 275191 539735 452339 3747595 5630023 0 615163 275191 539735 452339 3747595 5630023 70116106 518815 335172 842325 955292 1443092 4094696 0 0 0 0 0 518815 335172 842325 955292 1443092 4094696 14691685 11186973 20785487 15731246 17445434 79840825 0.87820 0.92650 0.05130 0.04440 X Short Year During 2021 the organization changed their reporting period to the calendar year. Column 2021 reports activity for the 11 month period from February 1, 2021 to December 31, 2021. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X Storage 1 11970059 1914922 1820515 370925 15334571 12661279 1537788 -1900787 328221 11970059 10265633 1125080 1570491 299925 12661279 8598344 572692 1308597 214000 10265633 6911259 728386 994199 35500 8598344 0.14880 0.74480 0.10640 0 0 2607330 2607330 52494272 20395619 32098653 14097045 9595758 4501287 21216588 7695759 13520829 52728099 Other Assets 12315 Deferred Tax Asset 310000 Related Party Receivable 671510 Investment in Subsidiary 201087 Finance Lease Asset 7560881 8755793 Deferred Compensation 464002 Annuities Payable 16971 Finance Lease Liability 3530953 4011926 X 22676721 524429 1017589 39927 1581945 21094776 -3075009 -3075009 18019767 15051597 142060 3119021 3261081 11790516 0 11790516 Part III, Line 4: The organization has a collection of Native American artifacts, a collection of historic furniture belonging to relatives of the Marquis de Mores, and various other artifacts related to Theodore Roosevelt, Marquis de Mores, and Harold Schafer, which are all directly related to the organization's primary exempt purpose of educating visitors about the historical importance of the Medora area. The Native American collection is currently in storage until such time that an appropriate exhibition venue is established in the Medora area. All other collections and artifacts are on display for the general public to view in various properties owned by the organization. Part V, Line 4: The organization's intended use of endowment funds is specified by the endowment agreements which are driven by donor intent. Part X, Line 2: Management believes that each entity 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 consolidated 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. Part XI, Line 2d - Other Adjustments: Change in Value of Split-Interest Agreement -3,454. Income (Loss) from Subsidiary -631. Intercompany interest 44,012. Part XI, Line 4b - Other Adjustments: Rental Expense reclass to Statement of Revenue for Form 990 -2,943,783. Special Event Expense reclass to Statement of Revenue for Form 990 -131,226. Part XII, Line 2d - Other Adjustments: Rental Expense reclass to Statement of Revenue for Form 990 2,943,783. Special Event Expense reclass to Statement of Revenue for Form 990 131,226. Intercompany interest 44,012. Rod Tjaden Golf Tournament 64810 38810 26000 16531 5178 10878 Black Tie & Spurs 382524 314071 68453 845 3506 5507 88781 447334 352881 94453 16531 845 8684 5507 99659 131226 -36773 1 Scholarships 15 22500 Part I, Line 2: Scholarship checks are made payable to the recipient and the domestic institution of higher education as co-payees. If a recipient does not attend school, the check is returned to Theodore Roosevelt Medora Foundation. Tjaden Educational Assistance Program: Each year, 15-20 awards of $1,500 each are awarded to seasonal employees who have demonstrated outstanding work qualities, leadership, and good character. Hubbard Scholarship: Up to two students attending the University of North Dakota will be presented with a Don Hubbard Educational Assistance Scholarship. Tim Johnson Memorial Scholarship: Up to two scholarships are awarded each year to employees who exhibit leadership and positive influence on guests and co-workers through courage and humor. Winston Satran Scholarship: A scholarship is awarded each year to an employee who demonstrates leadership through compassion, patience and - most of all - hard work. Wade Westin Scholarship: Up to two scholarships are awarded each year for dedication to Medora and enthusiasm for the Badlands, the Musical, and all that Medora offers. Sunshine Award: A scholarship to honor Sheila Schafer is awarded each year to a student worker who is a true "daymaker" - someone who enriches the lives of co-workers and guests through a positive attitude, energy in their work and genuine kindness. Shannon "Sunshine" Larson Scholarship: A scholarship is awarded to a student worker who demonstrates leadership and positively influences guests and co-workers through a truly sunny outlook on life. Dean Hildebrand Conservation Scholarship: A scholarship is awarded to a student worker who shows, in addition to good character, work ethic, and leadership, an active desire to promote the conservation of natural resources. Eligibility requirements include the following criteria: 1. Individuals must have graduated from high school. 2. The monies must be used within 13 months of the award or is forfeited. 3. Top-level TRMF Officers or their dependents are ineligible. Schedule I, Part III, Item B: Scholarship receipents are determined through a nomination process by managers and meeting certain criteria. TRMF estimates the number receipents based on funding available each year and number of applications/nominations. X 0 0 X X X 0 0 0 1 0 0 0 0 0 Randy Hatzenbuhler President 190441 0 37375 0 1746 0 31659 0 28384 0 289605 0 0 0 Joe Wiegand Theodore Roosevelt Reprisor 172002 0 125 0 0 0 9723 0 19103 0 200953 0 0 0 Clarence Sitter Chief Operating Officer 133531 0 5130 0 0 0 9300 0 47778 0 195739 0 0 0 Nathan Huntington - Chief Projects, Strategy, and Facilities O 138012 0 125 0 0 0 0 0 30205 0 168342 0 0 0 Part I, Line 1a Randy Hatzenbuhler, Clarence Sitter, Nate Huntington, Lyubomyr Shkandriy, and Joe Wiegand all reside in TRMF housing for all or part of the year in Medora. Joe's housing is taxable for a portion of the year and he lives in it year-round other than when he is traveling. Clarence, Lyubomyr, and Nate live in the housing year-round they have met the requirements for it to be tax-free. Randy lives in the housing during the summer months and it is also tax-free. Part I, Line 5 Individual incentive plans for Randy, Clarence, Emily, Lyubomyr, and Nate have a portion tied to the result of meeting the company's financial goals. Members of the Executive Team of TRMF have individual incentive plans which is why the employees noted above have them and Joe Wiegand does not. Matthew Hills was a member of the Executive Team so did have one as well but was not employed at the end of the year so was not eligible for any payout. Everyone on the Executive Team was also subject to the company-wide incentive plan which is based on the revenue/financial performance of the company. A company-wide incentive for 2023 was earned but paid out in 2024. This was accrued in 2023 for book purposes. A Billings County North Dakota 456002200 000000000 2015-06-01 8000000 Refinance Existing MIDA Bond and for Construction of Life Skills Center 0 0 0 B Billings County North Dakota 456002200 000000000 2017-12-01 4500000 Construction of Elkhorn Quarters 0 0 0 A 6963061 8000000 87194 5478456 2434350 2017 1 0 1 1 B 1363418 4500000 80611 4419389 2018 0 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 B 0 1 1 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 0 1 1 0 0 0 0 B 0 0 0 1 1 0 0 0 0 A 0 B 0 Date Rebate Computation Performed Issuer Name: Billings County North Dakota Date the Rebate Computation was Performed: 09/30/2022 Issuer Name: Billings County North Dakota Date the Rebate Computation was Performed: 09/30/2022 Wild Horse Place LLC Entity owned by Rick Berg, husband of board member Tracy Martin 2652475 Lease payments and lease prepayments for pledge received 0 X 1 28100 Cost X 3 44739 FMV X 1 738 Cost of Product X Concrete 1 250000 Cost X BTS Auction 115 70001 Cost X Other 18 16535 Cost X Tjaden Tourny 42 11636 Cost 0 0 1 0 Part I, Column (b): The amounts reported in Part I, column (b) represents the number of items contributed. Form 990, Part VI, Section A, line 1a TRMF has an Executive Committee that meets monthly and is given the authority to act on behalf of the board for any business that may be needed in between the 3 board meetings held during the fiscal year. The Executive Committee is comprised of the Chairman, Vice Chairman, Secretary, Treasurer, and committee chairs. The President/CEO is a non-voting member. The Executive Committee may exercise the authority of the board of directors in the governance of the corporation; provided, however, that the committee shall not have the authority of the board of directors in reference to amending, altering or repealing the bylaws; electing, appointing, or removing any member of the committee or any director or officer of the corporation; amending the articles of incorporation; adopting a plan of merger or adopting a plan of consolidation with another corporation; authorizing the sale, lease, exchange or mortgage of a substantial portion of the property and assets of the corporation; authorizing the voluntary dissolution of the corporation; adopting a plan for the distribution of assets of the corporation; or amending, altering or repealing any resolution provided by the board of directors. Form 990, Part VI, Section A, line 2 Michael Zaun and Tim O'Keefe have a business relationship since they both serve on the Board of Directors of Bully Pulpit Inc. the wholly owned subsidiary of Theodore Roosevelt Medora Foundation. Rolf Sletten and Medora Sletten have a family relationship. Form 990, Part VI, Section B, line 11b A draft of the Form 990 will be reviewed by the finance committee which will then recommend it to the full board for approval prior to the Form 990 being filed with the IRS. Form 990, Part VI, Section B, line 12c On an annual basis, each board member receives and is asked to sign a board member statement of commitment and understanding as well as a conflict of interest policy. This statement is also discussed at the annual meeting as an agenda item. Conflicts are reviewed at the board level. The person with the conflict is recused from the discussion and voting pertaining to the area of which a conflict exists. Form 990, Part VI, Section B, line 15a The organization has a compensation committee made up of between 4-6 individuals from the board of directors whose responsibility is to annually review compenation and benefits for the President. During this annual review process, comparability data is reviewed along with other information as may be requested by committee members and provided by management. Benefit and incentive plans are also reviewed and approved annually by the compensation commitee. The deliberation and decision is documented in the meeting minutes. Form 990, Part VI, Section C, line 19 The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request. Form 990, Part XI, line 9: Change in Value of Split-Interest Agreement -3,454. Change in Value of Investment in BPI 170,228. TRMF Third Street Housing LLC 405 E River Rd S Medora ND 58645 883297452 Lease Units in Apartment Building ND 112449 7669867 Theodore Roosevelt Medora Foundation Bully Pulpit Inc 405 East River Road Medora ND 58645 450549273 Golf Course, Retail and Hotels ND Theodore Roosevelt Medora Foundation C 11533137 1707897 1.00000 1 Charitable Remainder Unitrusts (1) Charitable Trust ND T 0 1 0 0 1 0 0 0 0 0 1 0 1 0 1 1 0 0 0 0 Bully Pulpit Inc A 63800 Accrual Bully Pulpit Inc D 704243 Accrual Bully Pulpit Inc J 2090000 Accrual Bully Pulpit Inc L 527099 Accrual Bully Pulpit Inc O 475000 Accrual