Civic Intelligence

Dakota State University Foundation

990 • Fiscal year 2017 • EIN 23-7299995

Jul 01, 2016 to Jun 30, 2017 • Filed on Oct 16, 2017

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

22nd percentile

0.03x

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

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

44th percentile

0.18x

Higher debt load relative to revenue than 44% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Net Margin

4th percentile

-63%

Higher net margin than 4% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

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.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Asset Growth

13th percentile

-5.5%

Faster asset growth than 13% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Revenue Growth

8th percentile

-28%

Faster revenue growth than 8% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets22nd percentile

Assets

Down

$16,181,925

Down $933,800 (-5.5%) from 2016

Net Assets

Down

$15,689,614

Down $922,518 (-5.6%) from 2016

Liabilities

Down

$492,311

Down $11,282 (-2.2%) from 2016

Revenue And Expenses
Liabilities / Revenue44th percentileNet Margin4th percentile

Revenue

Down

$2,717,176

Down $1,036,345 (-28%) from 2016

Expenses

Up

$4,439,096

Up $1,252,486 (+39%) from 2016

Net Income

Down

-$1,721,920

Down $2,288,831 (-404%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth13th 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

2017

Assets$16,181,925
Liabilities$492,311
Net Assets$15,689,614
Open 2017 Filing

Operations Trend

Revenue Growth8th 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

2017

Revenue$2,717,176
Expenses$4,439,096
Net Income-$1,721,920
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Oct 16, 2017
Return Version
2016v3.0
Gross Receipts
$5,914,633
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$13,954,027$12,731,450▼ $1,222,577
Savings and Temporary Cash Investments$1,836,203$2,163,683▲ $327,480
Land, Buildings, and Equipment, Net$1,014,649$971,549▼ $43,100
Accounts Receivable$225$225→ $0
Total Assets$17,115,725$16,181,925▼ $933,800
Other Assets Total$310,621$315,018▲ $4,397
Liabilities
Other Liabilities$503,593$492,289▼ $11,304
Accounts Payable and Accrued Expenses-$22-
Total Liabilities$503,593$492,311▼ $11,282
Net Assets / Fund Balance
Permanently Rstr Net Assets$10,614,937$10,844,688▲ $229,751
Temporarily Rstr Net Assets$4,739,300$3,123,801▼ $1,615,499
Unrestricted Net Assets$1,257,895$1,721,125▲ $463,230
Total Net Assets Fund Balance$16,612,132$15,689,614▼ $922,518
Total Liabilities and Net Assets / Fund Balance$17,115,725$16,181,925▼ $933,800

Asset Categories

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

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$10,614,937$219,739▲ $10,012-$10,844,688
2015$9,106,682$1,541,234▼ $32,979-$10,614,937
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
Compensation and Service Providers
Top Officer Pay12th percentile

Board Members and Trustees

NameTitle
Adam HafnerBoard Member
Bill BeckBoard Member
Bob CasagrandeBoard Member
Brian KernBoard Member
Cecelia WittmayerBoard Member
Dan MeadowsBoard Member
Darrel SimonBoard Member
David GeiverBoard Member
Delon MorkBoard Member
Erin NielsenBoard Member
Floyd RummelBoard Member
Hali McclellandBoard Member
Jeff BloomBoard Member
Judy DittmanBoard Member
Kazzi Foster-teelBoard Member
Lee StoddardBoard Member
Mike HalversonBoard Member
Miles BeacomBoard Member
Pat MaroneyBoard Member
Randy SchaeferBoard Member
Renae ProstrolloBoard 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
Dr Jose Marie GriffithsEx Officio
Jeff DittmanEx Officio
Mark JohnstonEx Officio
Stacy KrusemarkEx Officio
Revenue and Support

Revenue Composition

Contributions and Grants
$1,769,388
Program Service Revenue
$0
Investment Income
$830,500
Other Revenue
$117,288
All Other Contributions
$1,769,388
Change in Net Assets
$-1,721,920

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,717,176
Revenue Not Reported on Form 990
$799,402
Total Revenue per Audited Statements
$3,516,578
Total Revenue per Form 990
$2,717,176
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,776,009
Grants and Similar Amounts Paid$959,706
Salaries, Compensation, and Employee Benefits$703,381
Total Fundraising Expense$54,816
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$959,706--$959,706
Other Salaries and Wages-$703,381-$703,381
Office Expenses-$14,008$54,816$68,824
Fees for Service Investment Mgmnt Fees-$48,693-$48,693
Travel-$25,978-$25,978
All Other Expenses-$23,511-$23,511
Other Expenses$18,000$146,968-$18,000
Fees for Services Accounting-$10,090-$10,090
Information Technology-$7,833-$7,833
Total Functional Expenses$3,403,818$980,462$54,816$4,439,096

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$4,439,096
Total Expenses per Audited Statements$4,439,096
Total Expenses per Form 990$4,439,096
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Dakota State UnivMadison, SD--$959,706
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$446,060
Annuities Payable$46,229
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
2017-10-16

Organization Details

Principal Officer
Stacy Krusemark
Formed
1970
Legal Domicile
Sd
Voting Board Members
28
Independent Board Members
28
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

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$16,181,925
Liabilities
$492,311
Net assets
$15,689,614
Revenue
$2,717,176
Expenses
$4,439,096
Net income
-$1,721,920
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