Civic Intelligence

North Dakota State University Foundation

990 • Fiscal year 2020 • EIN 23-7120898

Jan 01, 2020 to Dec 31, 2020 • Filed on Oct 11, 2021

Organization Profilewww.ndsufoundation.com

View Organization Page

1241 N University DriveFargo, ND 58102

(701) 231-6800

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

20th percentile

0.08x

Higher debt load relative to assets than 20% of similar nonprofits.

2020 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2020

Liabilities / Revenue

78th percentile

1.20x

Higher debt load relative to revenue than 78% of similar nonprofits.

2020 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2020

Net Margin

71st percentile

11%

Higher net margin than 71% of similar nonprofits.

2020 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2020

Top Officer Pay

17th percentile

$361,724

Higher top officer pay than 17% of similar nonprofits.

Top officer pay equals 1.2% of source-year revenue.

2020 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2020

Asset Growth

49th percentile

5.7%

Faster asset growth than 49% of similar nonprofits.

2020 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2019 to 2020

Revenue Growth

1st percentile

-71%

Faster revenue growth than 1% of similar nonprofits.

2020 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets20th percentile

Assets

Up

$450,450,295

Up $24,370,712 (+5.7%) from 2019

Net Assets

Up

$414,767,679

Up $21,472,536 (+5.5%) from 2019

Liabilities

Up

$35,682,616

Up $2,898,176 (+8.8%) from 2019

Revenue And Expenses
Liabilities / Revenue78th percentileNet Margin71st percentile

Revenue

Down

$29,663,255

Down $74,090,575 (-71%) from 2019

Expenses

Down

$26,474,179

Down $8,022,493 (-23%) from 2019

Net Income

Down

$3,189,076

Down $66,068,082 (-95%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth49th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$800M$600M$400M$200M$0Assets 2012: $210,417,200Liabilities 2012: $37,040,363Net Assets 2012: $173,376,8372012Assets 2017: $322,704,523Liabilities 2017: $34,781,558Net Assets 2017: $287,922,9652017Assets 2019: $426,079,583Liabilities 2019: $32,784,440Net Assets 2019: $393,295,1432019Assets 2020: $450,450,295Liabilities 2020: $35,682,616Net Assets 2020: $414,767,6792020Assets 2021: $630,421,600Liabilities 2021: $34,181,680Net Assets 2021: $596,239,9202021Assets 2022: $575,494,411Liabilities 2022: $40,784,715Net Assets 2022: $534,709,6962022Assets 2024: $688,411,663Liabilities 2024: $47,753,068Net Assets 2024: $640,658,5952024

Highlighted filing

2020

Assets$450,450,295
Liabilities$35,682,616
Net Assets$414,767,679
Open 2020 Filing

Operations Trend

Revenue Growth1st percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$200M$150M$100M$50M$0Expenses 2012: $15,154,5702012Revenue 2017: $57,378,454Expenses 2017: $14,386,375Net Income 2017: $42,992,0792017Revenue 2019: $103,753,830Expenses 2019: $34,496,672Net Income 2019: $69,257,1582019Revenue 2020: $29,663,255Expenses 2020: $26,474,179Net Income 2020: $3,189,0762020Revenue 2021: $199,184,967Expenses 2021: $28,095,849Net Income 2021: $171,089,1182021Revenue 2022: $58,170,689Expenses 2022: $55,497,623Net Income 2022: $2,673,0662022Revenue 2024: $102,362,441Expenses 2024: $52,535,207Net Income 2024: $49,827,2342024

Highlighted filing

2020

Revenue$29,663,255
Expenses$26,474,179
Net Income$3,189,076
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Oct 11, 2021
Return Version
2020v4.1
Gross Receipts
$96,665,119
Mission and Program Overview

Mission

Building enduring relationships that maximize advocacy and philanthropy to support North Dakota State University.

Building enduring relationships that maximize advocacy and philanthropy to support NDSU.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$203,979,507$235,598,181▲ $31,618,674
Investments Other Securities$92,981,840$107,688,757▲ $14,706,917
Pledges and Grants Receivable$57,999,465$47,574,013▼ $10,425,452
Land, Buildings, and Equipment, Net$32,930,963$31,620,559▼ $1,310,404
Savings and Temporary Cash Investments$35,254,566$24,292,660▼ $10,961,906
Accounts Receivable$109,834$963,292▲ $853,458
Other Notes and Loans Receivable, Net$775,488$711,940▼ $63,548
Prepaid Expenses and Deferred Charges$350,171$252,579▼ $97,592
Inventories for Sale or Use$16,360$250▼ $16,110
Total Assets$426,079,583$450,450,295▲ $24,370,712
Other Assets Total$1,681,389$1,748,064▲ $66,675
Liabilities
Mortgage Notes Payable Secured by Investment Property$11,081,881$12,307,312▲ $1,225,431
Tax Exempt Bond Liabilities$12,175,205$11,085,000▼ $1,090,205
Other Liabilities$7,176,676$9,078,112▲ $1,901,436
Accounts Payable and Accrued Expenses$2,062,590$1,890,200▼ $172,390
Escrow Account Liability$183,557$1,172,015▲ $988,458
Grants Payable$70,625$110,073▲ $39,448
Deferred Revenue$33,906$39,904▲ $5,998
Total Liabilities$32,784,440$35,682,616▲ $2,898,176
Net Assets / Fund Balance
Net Assets With Donor Restrictions$361,796,949$379,674,774▲ $17,877,825
Net Assets Without Donor Restrictions$31,498,194$35,092,905▲ $3,594,711
Total Net Assets Fund Balance$393,295,143$414,767,679▲ $21,472,536
Total Liabilities and Net Assets / Fund Balance$426,079,583$450,450,295▲ $24,370,712

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$27,671,264$20,524,328$42,521,245
Leasehold Improvements$92,250$3,384,265$3,476,515
Equipment$432,554$1,994,374$2,426,928
Land$2,814,457-$1,364,601
Other Land Buildings$610,034$275,471$885,505
Other Securities$16,427,750--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$248,636,124$10,921,068▲ $24,820,445$2,410,291$273,318,499
2019$208,172,700$19,838,146▲ $30,504,617$2,125,370$248,636,124
2018$206,293,111$15,788,641▼ $4,115,595$2,747,102$208,172,700
2017$167,201,113$22,709,487▲ $25,161,615$2,910,976$206,293,111
2016$142,674,144$23,942,773▲ $10,454,255$4,539,954$167,201,113
Compensation and Service Providers
Top Officer Pay17th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
John R GloverPresident & CEOFT$290,651$71,824$362,475
Allyson PetersonSr VP of Finance & Operations/CFOFT$154,939$42,736$197,675
Monique AndersonVP of DevelopmentFT$145,674$41,416$187,090
Mike MeyerManaging Director of DevelopmentFT$117,978$32,796$150,774
Curtis CoxSr Director of Gift PlanningFT$104,466$43,425$147,891

Board Members and Trustees

NameTitle
Jennifer Hopkins Secretary(Jan-June); Chair (July-Dec)
Michael KruegerChair of the Board (Jan-June)
Dan DunnVice Chair
John Erickson Treasurer(Jan-June)/Board Member (July-Dec)
Connie NicholasBoard Member
Dave OligBoard Member
Jeff VolkBoard Member
Jim HambrickBoard Member
Neal FisherBoard Member
Dave Maring Board Member(Jan-June)/Secretary (July-Dec)
Stacey AckermanTreasurer (July-Dec)

Highest Paid Contractors

ContractorServicesLocationCompensation
SeiInvestment Management100 Cider Mill Road, Oaks, PA 19456$1,470,121
Ruffalo Noel LevitzProfessional FundraisingPO Box 718, Des Moines, IA 50303-0718$201,267
BlackbaudDonor & Financial SoftwarePO Box 930256, Atlanta, GA 31193-0256$157,557
Revenue and Support

Revenue Composition

Contributions and Grants
$14,826,317
Program Service Revenue
$828,623
Investment Income
$14,039,248
Other Revenue
$-30,933
All Other Contributions
$13,910,764
Change in Net Assets
$3,189,076

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded62$1,732,331Average High/Low
Other Non Cash Contri Table93$62,863Cost/Fair Market Value (FMV)
Real Estate Commercial1$7,085Appraised Value
Clothing and Household Goods-$4,125Appraised Value
Other Non Cash Contri Table2$2,093Quoted Market Price
Food Inventory1$1,177Cost
Total Noncash Contributions159$1,809,674-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$18,051,259
Salaries, Compensation, and Employee Benefits$4,610,265
Other Expenses$3,613,713
Total Fundraising Expense$3,195,469
Professional Fundraising Fees$198,942

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$18,051,259--$18,051,259
Other Salaries and Wages$395,981$858,626$1,698,341$2,952,948
Fees for Service Investment Mgmnt Fees-$1,470,121-$1,470,121
Other Employee Benefits$91,924$216,462$293,097$601,483
Current Officers, Directors, Trustees, and Key Employees$90,619$378,912$90,619$560,150
Office Expenses$51,885$112,119$111,214$275,218
Interest-$262,602-$262,602
Pension Plan Contributions$39,734$70,094$151,470$261,298
Information Technology$37,339$91,024$118,211$246,574
Payroll Taxes$33,559$71,235$129,592$234,386
Fees for Services Professional Fundraising--$198,942$198,942
Travel$17,698$52,469$96,450$166,617
Occupancy$20,615$72,518$72,176$165,309
Depreciation Depletion$22,035$66,123$77,149$165,307
Fees for Services Legal-$75,687-$75,687
Conferences and Meetings$1,099$73,165$327$74,591
Insurance$10,441$29,768$33,054$73,263
Fees for Services Accounting-$49,906-$49,906
Fees for Services Other$2,234$9,362$21,133$32,729
Advertising$15,656$1,631$12,028$29,315
Other Expenses$0$12,517$147$12,664
All Other Expenses-$10,192$128$10,320
Total Functional Expenses$18,945,682$4,333,028$3,195,469$26,474,179
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
North Dakota State UniversityFargo, NDNdsuCash grants provided for student scholarships, faculty support, departmental support, and capital projects.$18,051,259

International Summary

Offices
0
Employees
0
Spending
$41,181,000

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
Yes
Foreign partnership interest
Yes
Interest in foreign trust
No
Passive foreign investment company interest
Yes
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the Caribbean -Investments-00$41,181,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$198,942
Fundraising Direct Expenses$145,814
Fundraising Gross Income$98,849

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
BBB Auction$216,802$98,849$46,965$51,884
Total Events$216,802$98,849$145,814$-46,965
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Trusts Payable$5,962,123
Gift Annuities Payable$2,940,544
Special Assessments Payable$166,507
Due To Fossum$8,938

Bond Issues

BondIssuerIssuedIssue PricePurpose
BCity of Fargo ND2012-05-23$12,145,894To refund bonds issued 11/29/2007
ANorth Dakota State University Foundation2010-12-17$5,650,000Payment of loan incurred for renovation of bldg for classrooms and offices

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$12,145,894-$4,490,894$162,239
A$5,650,000$11,983,655$2,220,000$31,489

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
Yes
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 1

“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.”

Filing and Contact Details

Filer

Filer Name
North Dakota State University Foundation
EIN
23-7120898
Phone
7012316800
Address
1241 N University Drive, Fargo, ND 58102
Doing Business As
NDSU Foundation NDSU Foundation and

Signing Officer

Name
Allyson Peterson
Title
CFO
Phone
7012316820
Signed
2021-10-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John R Glover
Formed
1971
Legal Domicile
Nd
Voting Board Members
11
Independent Board Members
11
Employees
54
Volunteers
345

Preparer

Firm
Eide Bailly LLP
Address
800 Nicollet Mall Ste 1300, Minneapolis, MN 55402-7033
Preparer
Deb Nelson CPA
Phone
6122536500
Supplemental Narrative

Additional Explanations

Form 990, Part XI, line 9:

“Change in Split Interest Agreements -1,120,850. Fossum Transfer 20,000.”

Financial Statement Notes

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.”

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.”

Raw XML AppendixShowing 400 of 1,100 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/PersonNm1Allyson Peterson
IRS990/Form990PartVIISectionAGrp/PersonNm2Monique Anderson
IRS990/Form990PartVIISectionAGrp/PersonNm3Mike Meyer
IRS990/Form990PartVIISectionAGrp/PersonNm4Curtis Cox
IRS990/Form990PartVIISectionAGrp/PersonNm5Michael Krueger
IRS990/Form990PartVIISectionAGrp/PersonNm6Jennifer Hopkins Secretary
IRS990/Form990PartVIISectionAGrp/PersonNm7Dan Dunn
IRS990/Form990PartVIISectionAGrp/PersonNm8Dave Maring Board Member
IRS990/Form990PartVIISectionAGrp/PersonNm9John Erickson Treasurer
IRS990/Form990PartVIISectionAGrp/PersonNm10Stacey Ackerman
IRS990/Form990PartVIISectionAGrp/PersonNm11Neal Fisher
IRS990/Form990PartVIISectionAGrp/PersonNm12Jim Hambrick
IRS990/Form990PartVIISectionAGrp/PersonNm13Connie Nicholas
IRS990/Form990PartVIISectionAGrp/PersonNm14Dave Olig
IRS990/Form990PartVIISectionAGrp/PersonNm15Jeff Volk
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IRS990/Form990PartVIISectionAGrp/TitleTxt0President & CEO
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IRS990/Form990PartVIISectionAGrp/TitleTxt2VP of Development
IRS990/Form990PartVIISectionAGrp/TitleTxt3Managing Director of Development
IRS990/Form990PartVIISectionAGrp/TitleTxt4Sr Director of Gift Planning
IRS990/Form990PartVIISectionAGrp/TitleTxt5Chair of the Board (Jan-June)
IRS990/Form990PartVIISectionAGrp/TitleTxt6(Jan-June); Chair (July-Dec)
IRS990/Form990PartVIISectionAGrp/TitleTxt7Vice Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt8(Jan-June)/Secretary (July-Dec)
IRS990/Form990PartVIISectionAGrp/TitleTxt9(Jan-June)/Board Member (July-Dec)
IRS990/Form990PartVIISectionAGrp/TitleTxt10Treasurer (July-Dec)
IRS990/Form990PartVIISectionAGrp/TitleTxt11Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt12Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt13Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt14Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt15Board Member
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IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0395981
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IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0711940

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$450,450,295
Liabilities
$35,682,616
Net assets
$414,767,679
Revenue
$29,663,255
Expenses
$26,474,179
Net income
$3,189,076
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$688$47.8$641$102$52.5$49.8
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$575$40.8$535$58.2$55.5$2.67
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$630$34.2$596$199$28.1$171
2020Detailed filing. Detailed filing data is available for this year.$450$35.7$415$29.7$26.5$3.19
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$426$32.8$393$104$34.5$69.3
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$323$34.8$288$57.4$14.4$43.0
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$210$37.0$173$15.2
Peer Organizations

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