Civic Intelligence

North Dakota State University Foundation

990 • Fiscal year 2017 • EIN 23-7120898

Jan 01, 2017 to Dec 31, 2017 • Filed on Oct 01, 2018

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

22nd percentile

0.11x

Higher debt load relative to assets than 22% of similar nonprofits.

2017 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2017

Liabilities / Revenue

55th percentile

0.61x

Higher debt load relative to revenue than 55% of similar nonprofits.

2017 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2017

Net Margin

97th percentile

75%

Higher net margin than 97% of similar nonprofits.

2017 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2017

Top Officer Pay

8th percentile

$271,346

Higher top officer pay than 8% of similar nonprofits.

Top officer pay equals 0.5% of source-year revenue.

2017 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2017

Asset Growth

80th percentile

15%

Faster asset growth than 80% of similar nonprofits.

2017 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2015 to 2017

Revenue Growth

91st percentile

51%

Faster revenue growth than 91% of similar nonprofits.

2017 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2015 to 2017

Assets

Up

$322,704,523

Up $112,287,323 (+53%) from 2012

Net Assets

Up

$287,922,965

Up $114,546,128 (+66%) from 2012

Liabilities

Down

$34,781,558

Down $2,258,805 (-6.1%) from 2012

Revenue

$57,378,454

No earlier filing loaded for comparison.

Expenses

Down

$14,386,375

Down $768,195 (-5.1%) from 2012

Net Income

$42,992,079

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

2017

Assets$322,704,523
Liabilities$34,781,558
Net Assets$287,922,965

Operations Trend

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

2017

Revenue$57,378,454
Expenses$14,386,375
Net Income$42,992,079
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Oct 1, 2018
Return Version
2017v2.3
Gross Receipts
$77,874,008
Mission and Program Overview

Mission

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$140,493,244$176,999,212▲ $36,505,968
Investments Other Securities$45,535,834$60,850,984▲ $15,315,150
Pledges and Grants Receivable$31,899,658$37,472,585▲ $5,572,927
Land, Buildings, and Equipment, Net$38,487,158$35,653,324▼ $2,833,834
Savings and Temporary Cash Investments$8,641,399$8,465,516▼ $175,883
Other Notes and Loans Receivable, Net$961,537$900,289▼ $61,248
Accounts Receivable$537,975$584,711▲ $46,736
Prepaid Expenses and Deferred Charges$142,964$148,950▲ $5,986
Inventories for Sale or Use$9,456$8,211▼ $1,245
Total Assets$267,672,690$322,704,523▲ $55,031,833
Other Assets Total$963,465$1,620,741▲ $657,276
Liabilities
Tax Exempt Bond Liabilities$15,243,024$14,256,021▼ $987,003
Mortgage Notes Payable Secured by Investment Property$15,639,343$11,582,503▼ $4,056,840
Other Liabilities$7,540,413$7,694,161▲ $153,748
Accounts Payable and Accrued Expenses$457,913$776,288▲ $318,375
Escrow Account Liability$277,690$388,670▲ $110,980
Deferred Revenue$8,394$83,915▲ $75,521
Total Liabilities$39,166,777$34,781,558▼ $4,385,219
Net Assets / Fund Balance
Permanently Rstr Net Assets$166,417,960$181,371,992▲ $14,954,032
Temporarily Rstr Net Assets$30,343,273$73,904,339▲ $43,561,066
Unrestricted Net Assets$31,744,680$32,646,634▲ $901,954
Total Net Assets Fund Balance$228,505,913$287,922,965▲ $59,417,052
Total Liabilities and Net Assets / Fund Balance$267,672,690$322,704,523▲ $55,031,833

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$31,373,146$16,103,011$42,403,278
Leasehold Improvements$645,748$2,830,767$3,476,515
Equipment$377,971$1,867,819$2,245,790
Land$2,613,882-$1,282,777
Other Land Buildings$642,577$248,025$890,602
Other Securities$29,160,069--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
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
2015$138,010,237$21,868,428▼ $1,756,349$10,381,449$142,674,144
2014$121,989,430$14,991,952▲ $6,291,966$867,726$138,010,237
2013$109,538,221$6,401,027▲ $16,211,546$5,933,315$121,989,430
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
John R GloverPresident & CEOFT$225,170$47,388$272,558
Allyson PetersonSr. VP of Finance & Operations/CFOFT$124,800$23,286$148,086
Monique AndersonVP of DevelopmentFT$109,043$28,975$138,018

Board Members and Trustees

NameTitle
Steven J SwiontekChair of the Board
John EricksonVice Chair
Connie NicholasEGB Member
Daniel J DunnEGB Member
James HambrickEGB Member
Joel HoneymanEGB Member
John WoldEGB Member
Michael KruegerEGB Member
Robert E ChalleyEGB Member
Brian HoukomEGB Member (Thru 6/30/17)
Kathy MeagherSecretary
Gary PaulsrudTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Ruffalo Noel LevitzProfessional FundraiserPO BOX 718, Des Moines, IA 50303-0718$130,984
Brailsford & Dunlavey IncProperty Development (Owner's Rep)1140 Connecticut Ave NW Suite 400, Washington, DC 20036$117,824
Bentz Whaley FlessnerCampaign Consulting7521 Ohms Lane, Minneapolis, MN 55439$115,496
Revenue and Support

Revenue Composition

Contributions and Grants
$46,535,740
Program Service Revenue
$560,758
Investment Income
$11,047,430
Other Revenue
$-765,474
All Other Contributions
$46,231,007
Change in Net Assets
$42,992,079

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 Traded70$1,266,686Average High/Low
Other Non Cash Contri Table130$70,270Fair Market Value (FMV)
Art Historical Treasures14$12,160Fair Market Value (FMV)
Securities Closely Held Stock1$8,000Audited Value
Other Non Cash Contri Table4$7,228Fair Market Value (FMV)
Works of Art1$3,000Fair Market Value (FMV)
Clothing and Household Goods-$2,875Fair Market Value (FMV)
Food Inventory2$1,172Fair Market Value (FMV)
Other Non Cash Contri Table2$307-
Collectibles2$210Fair Market Value (FMV)
Total Noncash Contributions226$1,371,908-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$8,319,075
Salaries, Compensation, and Employee Benefits$3,308,661
Other Expenses$2,627,655
Total Fundraising Expense$1,706,016
Professional Fundraising Fees$130,984

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$8,319,075--$8,319,075
Other Salaries and Wages$545,833$661,655$875,209$2,082,697
Fees for Service Investment Mgmnt Fees-$793,112-$793,112
Other Employee Benefits$10,968$259,596$229,336$499,900
Current Officers, Directors, Trustees, and Key Employees$65,520$278,558$65,520$409,598
Interest-$226,862-$226,862
Travel$16,374$56,304$146,030$218,708
Office Expenses$18,758$191,155$4,796$214,709
Depreciation Depletion-$177,176-$177,176
Payroll Taxes$34,102$63,668$67,823$165,593
Pension Plan Contributions$30,971$57,326$62,576$150,873
Information Technology-$138,959-$138,959
Occupancy-$137,228-$137,228
Fees for Services Professional Fundraising--$130,984$130,984
Fees for Services Other-$129,571-$129,571
Conferences and Meetings$3,055$104,686$2,455$110,196
Insurance-$54,566-$54,566
Advertising$25,152$8,145$20,037$53,334
Fees for Services Accounting-$43,384-$43,384
Fees for Services Legal-$29,532-$29,532
Other Expenses$19,085$2,278$73,282$2,278
All Other Expenses-$1,000-$1,000
Total Functional Expenses$9,249,756$3,430,603$1,706,016$14,386,375
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
North Dakota State UniversityFargo, NDNdsuCash grants provided for student scholarships, faculty support, departmental support for equipment, research, supplies, travel, etc.$8,319,075

International Summary

Offices
0
Employees
0
Spending
$29,160,000

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
Yes
Foreign partnership interest
No
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$29,160,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$226,797
Fundraising Gross Income$215,723
Professional Fundraising Fees$130,984

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
BBB Auction$392,745$106,012$26,195$79,817
BBB Dinner$96,255$96,255$13,681$82,574
Total Events$520,456$215,723$226,797$-11,074
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$4,476,925
Gift Annuities Payable$3,082,203
Special Assessments Payable$109,376
Due To Fossum$25,657

Bond Issues

BondIssuerIssuedIssue PricePurpose
CCity of Fargo ND2012-05-23$12,145,894To refund bonds issued 11/29/2007
BNorth Dakota State University Foundation and Alumni Association2010-12-17$5,650,000Payment of loan incurred for renovation of bldg for classrooms and offices
ACass County ND2005-12-20$3,500,000Finance Construction & Equipment of Offices

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
C$12,145,894-$3,015,894$162,239
B$5,650,000-$1,440,000$31,489
A$3,500,000$11,983,655$2,583,979$18,500

Bond Financing Compliance

No rebate due
Yes
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
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 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 & Alumni Association shall serve as ex-officio, non-voting members.

Form 990, Part VI, Section A, line 7A

A group known as Foundation Trustees shall have authority to elect six individuals from among its members to serve on the Executive Governing Board. Another group known as Alumni Directors shall have authority to elect five 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 CUPA report is used for salary comparisons for similar positions at peer institutions. 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
EIN
23-7120898
Phone
7012316800
Address
1241 N University Drive, Fargo, ND 58102
Doing Business As
NDSU Foundation and Alumni Association

Signing Officer

Name
Allyson Peterson
Title
Sr VP Finance & Operations/CFO
Phone
7012316820
Signed
2018-10-01
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
53
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 -875,974. Fossum Transfer 15,000.

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 & Alumni Association 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 is a publicly supported organization under Internal Revenue Code Section 501(c)(3), and is classified as an organization which is not a private foundation. Accordingly the Foundation is not subject to federal income taxes. In addition, the Foundation is subject to income tax on net income that is derived from business activities that are unrelated to its exempt purposes. 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.

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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt80
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt90
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt100
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt110
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1238299
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1323286
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1428975
IRS990/Form990PartVIISectionAGrp/PersonNm0Steven J Swiontek
IRS990/Form990PartVIISectionAGrp/PersonNm1John Erickson
IRS990/Form990PartVIISectionAGrp/PersonNm2Kathy Meagher
IRS990/Form990PartVIISectionAGrp/PersonNm3Gary Paulsrud
IRS990/Form990PartVIISectionAGrp/PersonNm4John Wold
IRS990/Form990PartVIISectionAGrp/PersonNm5Robert E Challey
IRS990/Form990PartVIISectionAGrp/PersonNm6Michael Krueger
IRS990/Form990PartVIISectionAGrp/PersonNm7Connie Nicholas
IRS990/Form990PartVIISectionAGrp/PersonNm8Daniel J Dunn
IRS990/Form990PartVIISectionAGrp/PersonNm9Joel Honeyman
IRS990/Form990PartVIISectionAGrp/PersonNm10Brian Houkom
IRS990/Form990PartVIISectionAGrp/PersonNm11James Hambrick
IRS990/Form990PartVIISectionAGrp/PersonNm12John R Glover
IRS990/Form990PartVIISectionAGrp/PersonNm13Allyson Peterson
IRS990/Form990PartVIISectionAGrp/PersonNm14Monique Anderson
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt12233047
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt140
IRS990/Form990PartVIISectionAGrp/TitleTxt0Chair of the Board
IRS990/Form990PartVIISectionAGrp/TitleTxt1Vice Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt2Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt3Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt4EGB Member
IRS990/Form990PartVIISectionAGrp/TitleTxt5EGB Member
IRS990/Form990PartVIISectionAGrp/TitleTxt6EGB Member
IRS990/Form990PartVIISectionAGrp/TitleTxt7EGB Member
IRS990/Form990PartVIISectionAGrp/TitleTxt8EGB Member
IRS990/Form990PartVIISectionAGrp/TitleTxt9EGB Member
IRS990/Form990PartVIISectionAGrp/TitleTxt10EGB Member (Thru 6/30/17)
IRS990/Form990PartVIISectionAGrp/TitleTxt11EGB Member
IRS990/Form990PartVIISectionAGrp/TitleTxt12President & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt13Sr. VP of Finance & Operations/CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt14VP of Development
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IRS990/FundraisingActivitiesInd01
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IRS990/GainOrLossGrp/SecuritiesAmt02505677
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0996
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt26958
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IRS990/PayrollTaxesGrp/ProgramServicesAmt034102
IRS990/PayrollTaxesGrp/TotalAmt0165593
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IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt057326
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IRS990/PrincipalOfficerNm0John R Glover
IRS990/ProfessionalFundraisingInd01
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IRS990/ProgramServiceRevenueGrp/Desc1Program Event Revenue
IRS990/ProgramServiceRevenueGrp/Desc2Miscellaneous Income
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt237736
IRS990/ProgSrvcAccomActy2Grp/Desc0Scholarships and awards to students enrolled at North Dakota State University selected by independent scholarship committees.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt04106860
IRS990/ProgSrvcAccomActy2Grp/GrantAmt04106860
IRS990/ProgSrvcAccomActy3Grp/Desc0Alumni records, newsletters and special events such as Homecoming, city alumni/student exchanges. Sponsor University programs such as Harvest Bowl and Celebration of Excellence.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt0930681
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt0593778

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