Civic Intelligence

Dakota State University Foundation

990 • Fiscal year 2016 • EIN 23-7299995

Jul 01, 2015 to Jun 30, 2016 • Filed on Nov 04, 2016

Organization ProfileWWW.FOUNDATION.DSU.EDU
820 N WashingtonMadison, SD 57042

(605) 256-5157

Siviq Scores

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

Liabilities / Assets

20th percentile

0.03x

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

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

35th percentile

0.13x

Higher debt load relative to revenue than 35% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Net Margin

77th percentile

15%

Higher net margin than 77% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Top Officer Pay

12th percentile

$0

Higher top officer pay than 12% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Asset Growth

14th percentile

-6.5%

Faster asset growth than 14% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Revenue Growth

9th percentile

-36%

Faster revenue growth than 9% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets20th percentile

Assets

Down

$17,115,725

Down $1,190,219 (-6.5%) from 2015

Net Assets

Down

$16,612,132

Down $257,837 (-1.5%) from 2015

Liabilities

Down

$503,593

Down $932,382 (-65%) from 2015

Revenue And Expenses
Liabilities / Revenue35th percentileNet Margin77th percentile

Revenue

Down

$3,753,521

Down $2,071,619 (-36%) from 2015

Expenses

Up

$3,186,610

Up $1,687,454 (+113%) from 2015

Net Income

Down

$566,911

Down $3,759,073 (-87%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth14th percentile

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

$150M$100M$50M$0Assets 2011: $9,739,315Liabilities 2011: $2,205,643Net Assets 2011: $7,533,6722011Assets 2012: $10,268,914Liabilities 2012: $1,967,937Net Assets 2012: $8,300,9772012Assets 2013: $11,141,725Liabilities 2013: $1,930,255Net Assets 2013: $9,211,4702013Assets 2014: $14,334,413Liabilities 2014: $1,492,189Net Assets 2014: $12,842,2242014Assets 2015: $18,305,944Liabilities 2015: $1,435,975Net Assets 2015: $16,869,9692015Assets 2016: $17,115,725Liabilities 2016: $503,593Net Assets 2016: $16,612,1322016Assets 2017: $16,181,925Liabilities 2017: $492,311Net Assets 2017: $15,689,6142017Assets 2018: $45,973,776Liabilities 2018: $28,693,148Net Assets 2018: $17,280,6282018Assets 2019: $40,519,237Liabilities 2019: $22,291,069Net Assets 2019: $18,228,1682019Assets 2020: $34,127,740Liabilities 2020: $16,068,852Net Assets 2020: $18,058,8882020Assets 2021: $48,525,169Liabilities 2021: $15,760,334Net Assets 2021: $32,764,8352021Assets 2022: $118,045,718Liabilities 2022: $98,636,082Net Assets 2022: $19,409,6362022Assets 2023: $96,118,718Liabilities 2023: $53,069,757Net Assets 2023: $43,048,9612023Assets 2024: $102,151,272Liabilities 2024: $76,848,409Net Assets 2024: $25,302,8632024

Highlighted filing

2016

Assets$17,115,725
Liabilities$503,593
Net Assets$16,612,132
Open 2016 Filing

Operations Trend

Revenue Growth9th percentile

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

$40M$20M$0-$20MExpenses 2011: $1,112,1382011Expenses 2012: $1,417,4732012Expenses 2013: $1,581,2392013Revenue 2014: $4,185,658Expenses 2014: $1,392,599Net Income 2014: $2,793,0592014Revenue 2015: $5,825,140Expenses 2015: $1,499,156Net Income 2015: $4,325,9842015Revenue 2016: $3,753,521Expenses 2016: $3,186,610Net Income 2016: $566,9112016Revenue 2017: $2,717,176Expenses 2017: $4,439,096Net Income 2017: -$1,721,9202017Revenue 2018: $7,046,474Expenses 2018: $5,692,876Net Income 2018: $1,353,5982018Revenue 2019: $3,847,910Expenses 2019: $2,221,983Net Income 2019: $1,625,9272019Revenue 2020: $3,444,107Expenses 2020: $2,774,279Net Income 2020: $669,8282020Revenue 2021: $15,213,740Expenses 2021: $2,592,406Net Income 2021: $12,621,3342021Revenue 2022: $5,725,186Expenses 2022: $2,887,015Net Income 2022: $2,838,1712022Revenue 2023: $5,886,711Expenses 2023: $13,699,637Net Income 2023: -$7,812,9262023Revenue 2024: $10,218,415Expenses 2024: $27,965,827Net Income 2024: -$17,747,4122024

Highlighted filing

2016

Revenue$3,753,521
Expenses$3,186,610
Net Income$566,911
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Nov 4, 2016
Return Version
2015v2.1
Gross Receipts
$6,050,565
Mission and Program Overview

Mission

Dakota state university foundation is an independent non-profit corporation established for the purpose of raising and managing private funding for the benefit of dakota state university.

The dakota state university foundation provides gifts, grants and scholarships to or for the benefit of dakota state university. These funds are disbursed to dsu students or departments based on financial need, qualifications, and/or in accordance with the donor's wishes.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$12,717,688$13,954,027▲ $1,236,339
Savings and Temporary Cash Investments$4,098,025$1,836,203▼ $2,261,822
Land, Buildings, and Equipment, Net$1,157,748$1,014,649▼ $143,099
Intangible Assets$763--
Accounts Receivable$225$225→ $0
Total Assets$18,305,944$17,115,725▼ $1,190,219
Other Assets Total$331,495$310,621▼ $20,874
Liabilities
Other Liabilities$1,415,975$503,593▼ $912,382
Unsecured Notes Loans Payable$20,000--
Total Liabilities$1,435,975$503,593▼ $932,382
Net Assets / Fund Balance
Permanently Rstr Net Assets$9,626,801$10,614,937▲ $988,136
Temporarily Rstr Net Assets$5,643,971$4,739,300▼ $904,671
Unrestricted Net Assets$1,599,197$1,257,895▼ $341,302
Total Net Assets Fund Balance$16,869,969$16,612,132▼ $257,837
Total Liabilities and Net Assets / Fund Balance$18,305,944$17,115,725▼ $1,190,219

Asset Categories

AssetBook ValueDepreciationBasis
Land$79,230-$79,230

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$8,439,580$1,056,727▼ $389,625-$9,106,682
2013$7,207,556$522,180▲ $709,844-$8,439,580
2012$6,454,113$253,176▲ $500,267-$7,207,556
2011$6,026,062$448,558▲ $706,074-$7,180,694
Compensation and Service Providers
Top Officer Pay12th percentile

Board Members and Trustees

NameTitle
Arden JonesBoard Member
Bill BeckBoard Member
Bob CasagrandeBoard Member
Dan MeadowsBoard Member
Darrel SimonBoard Member
David BockornyBoard Member
David GeiverBoard Member
Delon MorkBoard Member
Erin NielsenBoard Member
Floyd RummelBoard Member
Hali McclellandBoard Member
Judy DittmanBoard Member
Kazzi Foster-teelBoard Member
Kristine AndersonBoard Member
Lee StoddardBoard Member
Mike HalversonBoard Member
Miles BeacomBoard Member
Pat MaroneyBoard Member
Randy SchaeferBoard Member
Robb GrahamBoard Member
Roger DegrootBoard Member
Scott SchlisnerBoard Member
Suzy Collignon-hodgenBoard Member
Tammy MillerBoard Member
Ted PinsBoard Member
Tom OrtonBoard Member
Wayne PauliBoard Member
Bob OttersonEx Officio
Dr Jose Marie GriffithsEx Officio
Jeff DittmanEx Officio
Stacy KrusemarkEx Officio
Revenue and Support

Revenue Composition

Contributions and Grants
$2,796,894
Program Service Revenue
$0
Investment Income
$796,424
Other Revenue
$160,203
All Other Contributions
$2,796,894
Change in Net Assets
$566,911

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,753,521
Revenue Not Reported on Form 990
$-824,748
Total Revenue per Audited Statements
$2,928,773
Total Revenue per Form 990
$3,753,521
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,113,242
Grants and Similar Amounts Paid$770,222
Salaries, Compensation, and Employee Benefits$303,146
Total Fundraising Expense$43,844
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$770,222--$770,222
Other Salaries and Wages-$303,146-$303,146
Other Expenses$76,318$54,682-$54,682
Fees for Service Investment Mgmnt Fees-$46,947-$46,947
Office Expenses--$43,844$43,844
All Other Expenses$18,000$10,438-$28,438
Fees for Services Accounting-$9,750-$9,750
Information Technology-$7,000-$7,000
Travel-$6,129-$6,129
Conferences and Meetings-$405-$405
Total Functional Expenses$2,509,952$632,814$43,844$3,186,610

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,186,610
Total Expenses per Audited Statements$3,186,610
Total Expenses per Form 990$3,186,610
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Dakota State UnivMadison, SD--$770,222
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Investments Held for Others$445,770
Annuities Payable$57,823
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“After preparation and thorough review by the organization's v.p. And tax accountants, a draft of the form 990 is distributed to the audit committee for full review and comment. Once approved by the audit committee, the final 990 is made available for all voting board members for final approval. The tax return is then filed with the irs.”

Form 990, Page 6, Part VI, Line 12C

“The dakota state university foundation has formal policies and procedures in place for annually documenting potential conflicts of interests among its governing body. At the beginning of each fiscal year, the organization's conflict of interest policy and code of ethics are sent to all new and returning directors. All directors are asked to acknowledge to agree to abide by these policies and disclose any potential conflicts of interest pertaining to foundation business.”

Form 990, Page 6, Part VI, Line 19

“The organization's governing documents, conflict of interest policy, and irs form 990 are made available to the public upon request. Additionally, annual audited financial statements and information regarding endowment holdings are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Dakota State University Foundation
EIN
23-7299995
Phone
6052565157
Address
820 N WASHINGTON, MADISON, SD 57042

Signing Officer

Name
Stacy Krusemark
Title
Ex Officio
Phone
6052565157
Signed
2016-11-04

Organization Details

Principal Officer
Stacy Krusemark
Formed
1970
Legal Domicile
Sd
Voting Board Members
29
Independent Board Members
29
Employees
0

Preparer

Firm
Wohlenberg Ritzman & Co LLC
Address
PO BOX 1018, YANKTON, SD 57078
Preparer
Jason Maxwell
Phone
6056654401
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The dakota state university foundation provides gifts, grants and scholarships to or for the benefit of dakota state university. These funds are disbursed to dsu students or departments based on financial need, qualifications, and/or in accordance with the donor's wishes.”

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Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$17,115,725
Liabilities
$503,593
Net assets
$16,612,132
Revenue
$3,753,521
Expenses
$3,186,610
Net income
$566,911
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$102$76.8$25.3$10.2$28.0$17.7
2023Detailed filing. Detailed filing data is available for this year.$96.1$53.1$43.0$5.89$13.7$7.81
2022Detailed filing. Detailed filing data is available for this year.$118$98.6$19.4$5.73$2.89$2.84
2021Detailed filing. Detailed filing data is available for this year.$48.5$15.8$32.8$15.2$2.59$12.6
2020Detailed filing. Detailed filing data is available for this year.$34.1$16.1$18.1$3.44$2.77$0.67
2019Detailed filing. Detailed filing data is available for this year.$40.5$22.3$18.2$3.85$2.22$1.63
2018Detailed filing. Detailed filing data is available for this year.$46.0$28.7$17.3$7.05$5.69$1.35
2017Detailed filing. Detailed filing data is available for this year.$16.2$0.49$15.7$2.72$4.44$1.72
2016Detailed filing. Detailed filing data is available for this year.$17.1$0.50$16.6$3.75$3.19$0.57
2015Detailed filing. Detailed filing data is available for this year.$18.3$1.44$16.9$5.83$1.50$4.33
2014Detailed filing. Detailed filing data is available for this year.$14.3$1.49$12.8$4.19$1.39$2.79
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.1$1.93$9.21$1.58
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.3$1.97$8.30$1.42
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.74$2.21$7.53$1.11