Civic Intelligence

Dakota State University Foundation

990 • Fiscal year 2015 • EIN 23-7299995

Jul 01, 2014 to Jun 30, 2015 • Filed on Dec 03, 2015

Organization ProfileWWW.FOUNDATION.DSU.EDU
830 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

30th percentile

0.08x

Higher debt load relative to assets than 30% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Liabilities / Revenue

50th percentile

0.25x

Higher debt load relative to revenue than 50% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Net Margin

96th percentile

74%

Higher net margin than 96% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

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.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Asset Growth

90th percentile

28%

Faster asset growth than 90% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Revenue Growth

88th percentile

39%

Faster revenue growth than 88% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets30th percentile

Assets

Up

$18,305,944

Up $3,971,531 (+28%) from 2014

Net Assets

Up

$16,869,969

Up $4,027,745 (+31%) from 2014

Liabilities

Down

$1,435,975

Down $56,214 (-3.8%) from 2014

Revenue And Expenses
Liabilities / Revenue50th percentileNet Margin96th percentile

Revenue

Up

$5,825,140

Up $1,639,482 (+39%) from 2014

Expenses

Up

$1,499,156

Up $106,557 (+7.7%) from 2014

Net Income

Up

$4,325,984

Up $1,532,925 (+55%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth90th 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

2015

Assets$18,305,944
Liabilities$1,435,975
Net Assets$16,869,969
Open 2015 Filing

Operations Trend

Revenue Growth88th 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

2015

Revenue$5,825,140
Expenses$1,499,156
Net Income$4,325,984
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Dec 3, 2015
Return Version
2014v6.0
Gross Receipts
$6,622,676
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$11,044,678$12,717,688▲ $1,673,010
Savings and Temporary Cash Investments$1,722,863$4,098,025▲ $2,375,162
Land, Buildings, and Equipment, Net$1,200,848$1,157,748▼ $43,100
Intangible Assets$2,290$763▼ $1,527
Accounts Receivable$225$225→ $0
Total Assets$14,334,413$18,305,944▲ $3,971,531
Other Assets Total$363,509$331,495▼ $32,014
Liabilities
Other Liabilities$1,472,189$1,415,975▼ $56,214
Unsecured Notes Loans Payable$20,000$20,000→ $0
Total Liabilities$1,492,189$1,435,975▼ $56,214
Net Assets / Fund Balance
Permanently Rstr Net Assets$8,602,364$9,626,801▲ $1,024,437
Temporarily Rstr Net Assets$3,091,592$5,643,971▲ $2,552,379
Unrestricted Net Assets$1,148,268$1,599,197▲ $450,929
Total Net Assets Fund Balance$12,842,224$16,869,969▲ $4,027,745
Total Liabilities and Net Assets / Fund Balance$14,334,413$18,305,944▲ $3,971,531

Asset Categories

AssetBook ValueDepreciationBasis
Land$179,230-$179,230

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
2010$5,334,158$284,911▲ $406,993-$6,026,062
Compensation and Service Providers
Top Officer Pay12th percentile

Board Members and Trustees

NameTitle
Al WiemanBoard Member
Alice PoppenBoard Member
Bill BeckBoard Member
Bob CasagrandeBoard Member
Chris WedeBoard Member
Dan MeadowsBoard Member
Darrel SimonBoard Member
David BockornyBoard Member
David GeiverBoard Member
Delon MorkBoard Member
Dr Richard BelattiBoard Member
Dr Theodore SeesBoard Member
Erin NielsenBoard Member
Floyd RummelBoard Member
Hali McclellandBoard Member
Judy DittmanBoard Member
Kazzi Foster-teelBoard Member
Kristine AndersonBoard Member
Lee StoddardBoard Member
Mark StollerBoard Member
Mike HalversonBoard Member
Miles BeacomBoard Member
Monie IssenhuthBoard Member
Nini HartBoard Member
Pat MaroneyBoard Member
Randy SchaeferBoard Member
Robb GrahamBoard Member
Roger DegrootBoard Member
Sarah LinnemanBoard Member
Scott SchlisnerBoard Member
Scott ScofieldBoard Member
Suzy Collignon-hodgenBoard Member
Tammy MillerBoard Member
Ted PinsBoard Member
Tom OrtonBoard Member
Wayne PauliBoard Member
Dr David BorofskyEx Officio
Jeff DittmanEx Officio
Stacy KrusemarkEx Officio
Revenue and Support

Revenue Composition

Contributions and Grants
$5,081,676
Program Service Revenue
$0
Investment Income
$612,863
Other Revenue
$130,601
All Other Contributions
$5,081,676
Change in Net Assets
$4,325,984

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,825,140
Revenue Not Reported on Form 990
$-306,982
Total Revenue per Audited Statements
$5,518,158
Total Revenue per Form 990
$5,825,140
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$760,766
Other Expenses$398,750
Salaries, Compensation, and Employee Benefits$339,640
Total Fundraising Expense$44,615
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$760,766--$760,766
Other Salaries and Wages-$339,640-$339,640
Office Expenses--$44,615$44,615
Fees for Service Investment Mgmnt Fees-$44,036-$44,036
All Other Expenses-$22,766-$22,766
Other Expenses$18,000$113,293-$18,000
Fees for Services Accounting-$10,250-$10,250
Travel-$4,242-$4,242
Information Technology-$1,205-$1,205
Total Functional Expenses$919,109$535,432$44,615$1,499,156

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$1,499,156
Expenses per Audited Statements$1,490,413
Total Expenses per Audited Statements$1,490,413
Expenses Not Reported on Financial Statements$8,743
Other Expense Adjustments$8,743
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Dakota State UnivMadison, SD--$760,766
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$1,364,276
Annuities Payable$51,699
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
830 N WASHINGTON, MADISON, SD 57042

Signing Officer

Name
Stacy Krusemark
Title
CEO
Phone
6052565157
Signed
2015-12-03

Organization Details

Formed
1970
Legal Domicile
Sd
Voting Board Members
27
Independent Board Members
27
Employees
4

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.”

Form 990, Part XI, Line 9

“Book / tax depreciation difference 8,743”

Financial Statement Notes

Schedule D, Page 4, Part XII, Line 4B

“Book / tax depreciation difference 8,743”

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Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$18,305,944
Liabilities
$1,435,975
Net assets
$16,869,969
Revenue
$5,825,140
Expenses
$1,499,156
Net income
$4,325,984
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