2024-03-28T14:30:54-05:00 2023-06-30 450250958 Eide Bailly LLP 800 Nicollet Mall Ste 1300 Minneapolis MN 554027033 990 2022-07-01 237002314 Northern State University Foundation NORT 6056262550 620 15th Ave SE Aberdeen SD 574017610 Kaylee Babcock CFO 6056262550 2024-03-26 1 Kaylee Babcock 999009999 1 Deb Nelson CPA P01264758 6122536500 2024-03-25 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z X Zach Flakus 620 15th Ave SE Aberdeen SD 574017610 17899716 0 X https://northernstatefoundation.com X 1968 SD To solicit, administer funds & pursue other activities dedicated to securing the future of NSU. 15 15 32 201 789345 650646 6161878 5129590 885921 877094 2267141 2366529 115135 20348 9430075 8393561 9660068 5765153 0 0 842730 983046 0 0 644269 659634 989351 11162432 7737550 -1732357 656011 67511706 63521925 19609563 12406676 47902143 51115249 The Northern State University Foundation is dedicated to securing the future of Northern State University. Its purpose is to solicit and administer funds and to pursue other activities to advance this goal. 0 0 3422308 3422308 0 NSU Foundation paid 852 academic, 668 departmental, and 639 athletic scholarships to students attending Northern State University. 2342845 2342845 884413 NSU Foundation provided funds to support Northern State University special projects, including departmental support of $1,116,728, athletic support of $920,455 including $104,640 of donated services and use of facilities, operational support of $208,365 and building additions and renovations of $201,937. 82187 0 0 NSU Foundation provided support for alumni events to develop a spirit of camaraderie and fraternity among the NSU alumni, donors, and friends. 5847340 1 1 0 1 0 0 0 0 0 1 1 1 0 0 0 1 0 1 0 0 1 0 0 0 1 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 27 0 1 32 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 15 15 1 0 0 0 1 1 0 1 1 0 0 0 1 1 1 0 0 1 1 0 AK CA CO KY MA MD ME MI MN NH NJ NV OH PA SC UT WA X X Kaylee Babcock 6056262550 620 15th Ave SE Aberdeen SD 57401 Zach Flakus President/CEO/Non-Voting Director 40.00 X X 183119 0 9872 Dr Neal Schnoor Non-Voting Director 2.00 X 3597 0 0 Megan Biegler Chair 2.00 X X 0 0 0 Mike Bockorny Past-Chair 2.00 X X 0 0 0 Steve Stickelmyer Chair-Elect 2.00 X X 0 0 0 Greg Wieker Secretary/Treasurer 2.00 X X 0 0 0 Chad Bergan Director 0.50 X X 0 0 0 Andrew Rehder Director 0.50 X 0 0 0 Jennifer Ring Director 0.50 X 0 0 0 Jim Koehler Director 0.50 X 0 0 0 Mark McNeary Director 0.50 X 0 0 0 Allie Ryckman Director 1.00 X 0 0 0 Arthur Russo Director 0.50 X 0 0 0 Kyle Schwan Director 1.00 X 0 0 0 Ric Dias Director 0.50 X 0 0 0 Jess Koehler Director 1.00 X 0 0 0 Kila LeGrand Director 0.50 X 0 0 0 Kaylee Babcock CFO 40.00 X 74798 0 8227 261514 0 18099 1 0 1 1 0 304644 4824946 306236 5129590 Wolves Club 611710 777856 777856 APEX Events 611710 96207 96207 3031 3031 877094 582527 789345 -206818 67998 46772 21226 21226 7319 13907 10910605 16826 9126377 17052 1784228 -226 1784002 1784002 315076 304644 315954 -878 -878 8393561 884413 789345 1590213 5765153 5765153 349455 3961 186090 159404 633591 17652 243919 372020 13314 13314 68122 68122 158878 158878 7231 7231 64835 19638 11254 33943 48412 4016 29407 14989 72710 66410 6300 16488 16488 8012 3384 4628 8659 1254 7405 381290 381290 16670 16670 15706 15706 Events 29912 29912 Training & Development 14438 6344 8094 Annuity Payments 11602 11602 Income Tax Expense 2101 2101 50971 2370 3710 44891 7737550 5847340 1245941 644269 7961159 6812542 13189008 9340345 56642 56739 21350 19170 992021 182410 771877 809611 11766524 28273607 32721071 17238063 1995923 67511706 63521925 779596 534958 198339 227210 7119004 6045786 2150 1850 11510474 5596872 19609563 12406676 X 1378232 1489033 46523911 49626216 47902143 51115249 67511706 63521925 X 656011 1683641 873454 X 0 1 X 1 0 X 18274553 22254062 7983558 6161878 5129590 59803641 18274553 22254062 7983558 6161878 5129590 59803641 15982519 43821122 886331 545027 466242 407897 67998 2373495 386503 144254 15661 789345 1335763 63512899 3741676 0.69000 0.59600 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 7737550 7737550 536878 134220 0 0 536878 536878 805317 134220 134220 201330 0 1 X 36271673 11311383 3848534 2216219 49215371 37554641 2874017 -2065270 2091715 36271673 31232627 1253562 6995130 1926678 37554641 31714535 737080 724567 1931714 11841 31232627 30771230 572730 2245529 1848670 26284 31714535 0.29500 0.70500 0 0 621300 73796 42834 652262 296925 139576 157349 809611 4457322 F Commingled funds and hedge fund 28263749 F 32721071 X 10894317 1683641 104640 873454 2661735 8232582 158878 2101 160979 8393561 7681211 104640 104640 7576571 158878 2101 160979 7737550 Part IV, Line 2b: FOHO I, LLC collects security deposits from the apartment complex tenants which are held until completion of a satisfactory moveout at which point the money is returned to the tenants. Part V, Line 4: Endowment funds are used to provide scholarships and university support to Northern State University. 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 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 Split Interest Agreements 873,454. Part XI, Line 4b - Other Adjustments: Income Tax Expense 2,101. Part XII, Line 4b - Other Adjustments: Income Tax Expense 2,101. Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas, 0 0 Investments 1566000 0 0 0 0 0 0 1566000 0 1566000 1 0 1 1 0 0 Part III Accounting Method: Schedule F, Part IV NSU Foundation reviews its direct and indirect investments during the tax period for determining required foreign filings. NSU Foundation would file Form 926 or Form 8865 if direct or indirect transfers to foreign corporations and partnerships met the requirements for filing. NSU Foundation's transfers to foreign corporations did require filing Form 926 and there were no transfers to foreign partnerships. NSU Foundation would file Form 5471 if its ownership met the requirements for filing. NSU Foundation's ownership in foreign corporations did not require filing Form 5471. NSU Foundation invests in partnerships that hold direct or indirect interests in passive foreign investment companies (PFICs). NSU Foundation would file Form 8621s for underlying investments that generate unrelated business income. NSU 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. NSU Foundation did not require filing Form 8621. Northern Night 343304 194448 148856 1500 72082 42904 13655 18716 Wolves on the Water 168380 46175 122205 42244 36586 11262 32113 2 98635 64021 34614 2000 15111 3888 8626 4988 610319 304644 305675 45744 123779 3888 62792 13655 55817 305675 0 1 Northern State University 1200 South Jay Street Aberdeen SD 57401 466000364 Government 3422308 0 Scholarships Northern State University 1200 South Jay Street Aberdeen SD 57401 466000364 Government 201937 0 Capital Projects Northern State University 1200 South Jay Street Aberdeen SD 57401 466000364 Government 1116728 0 Special Projects Northern State University 1200 South Jay Street Aberdeen SD 57401 466000364 Government 815815 0 Athletic Support Northern State University 1200 South Jay Street Aberdeen SD 57401 466000364 Government 208365 0 Operational Support 1 0 Part I, Line 2: The Foundation notifies NSU of the scholarships available, including amounts and criteria to be used for the selection process. NSU selects recipients based on information provided by the Foundation. The Foundation receives a detailed scholarship list for the academic year from Northern State University prior to the scholarship grant award. For non-scholarship grants, payments made to NSU are based on donor restrictions, i.e. capital projects or special projects. X X 0 1 X 0 0 0 0 0 0 0 0 0 Zach Flakus President/CEO/Non-Voting Director 183119 0 0 0 0 0 0 0 9872 0 192991 0 0 0 Part I, Line 1a The NSU Foundation has an agreement with the South Dakota Board of Regents to lease real property for the University President's, Dr. Neal Schnoor, use by him and his immediate family for their residence. Zach Flakus and Dr. Neal Schnoor each receive a country club membership as part of their compensation. Part I, Line 1b The Executive Committee approved the membership as part of their annual salary packages. Part I, Line 3 Zach Flakus and Kaylee Babcock are compensated through the Northern State University state payroll system but all salaries and benefits are paid by the NSU Foundation through reimbursement to the state payroll system. Salaries are approved by the Executive Committee. A Brown County South Dakota 466000011 000000000 2020-12-31 8699150 0 0 0 A 2649943 8699150 8688150 2021 0 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 0 0 0 0 0 0 1 A 1 Schedule K, Part I, Bond Issues: (f) Description of Purpose: The May 2019 bonds were reissued to reflect change in interest rates. Purpose of 2019 bonds were for athletic field complex and SD School for the Blind and Visually Impaired. X 108177 FMV X 6 32249 FMV Date of Gift X 1 27868 NAV X Interest Savings 1 137942 0 0 1 0 Part I, Column (b): Number of items contributed contributed. Form 990, Part VI, Section A, line 1a The Executive Committee shall consist of five (4) voting members, who are the Chair, Chair Elect, Past Chair, and Secretary/Treasurer, and two (2) non-voting members, who are the NSU Foundation CEO/President and the Northern State University President. Individuals listed in Part VII that are non-voting include Zach Flakus and Dr. Neal Schnoor. This committee will assist the Board of Directors by: (a) Having oversight of the standing committees of the Board of Directors and calling upon standing committee chairperson(s) to report to the Executive Committee at their bi-monthly meeting, and (b) In situations where it is not practicable for the entire Board of Directors to address a matter by special meeting, the Executive Committee shall have the authority of the Board of Directors to conduct necessary business. The Executive Committee shall be chaired by the Chair of the Board of Directors. Form 990, Part VI, Section A, line 2 Jim and Jess Koehler have a family and business relationship. Form 990, Part VI, Section A, line 6 The Foundation will have one class of Members. Any person or entity who makes a contribution to the Foundation during the fiscal year will be a member for that year ("Member"). Members will have the right to vote in the Board of Directors election. The Board of Directors may at any time create additional membership classifications. Form 990, Part VI, Section A, line 7a The Members will elect Officers at the Annual Meeting from the slate of qualified candidates presented at the Annual Meeting (typically terms run two years). Members will have the opportunity to nominate qualified Board candidates prior to the Annual Meeting. Board members are nominated throughout the year and approved at bi-monthly board meetings as needed. These elections are held in accordance with the Bylaws and procedures established by the Board. In addition, the members will consider such other business as may properly be brought before the meeting. Form 990, Part VI, Section B, line 11b The Chief Financial Officer at Northern State University Foundation will review the draft and provide questions to the preparer. A draft will also be provided to the Finance & Audit Committee for review prior to filing with the IRS. Form 990, Part VI, Section B, line 12c Board members will abstain from decisions in which they have an interest. This is on every board and committee agenda and any conflicts are documented in the board/committee minutes. In addition, all board and committee members sign annual conflict of interest disclosure forms at the beginning of each academic year. Staff sign a "Code of Ethics" document at time of hire that requires them to disclose any conflicts of interest that arise. Form 990, Part VI, Section B, line 15 The Board of Directors has charged the Executive committee with the responsibility to determine the appropriate compensation for the President. The President, in consultation with the Executive Committee, determines the salary and benefits for all other Foundation employees subject to Board approval of the Foundation budget. Form 990, Part VI, Section C, line 19 Upon approval by the President/CEO, these documents are made available to the public upon request and via the organization's website at https://northernstatefoundation.com. Form 990, Part XI, line 9: Change in Split Interest Agreements 873,454. FOHO I LLC 620 15th Ave SE Aberdeen SD 57401 273836141 Apartment buildings to provide additional housing for NSU students. SD 12891 839986 Northern State University Foundation APEX Events LLC 620 15th Ave SE Aberdeen SD 57401 814976453 Provide hospitality suites and Service of alcoholic beverages at events SD 96207 76087 Northern State University Foundation