Civic Intelligence

Minot State University Development Foundation

990 • Fiscal year 2014 • EIN 45-0344784

Jul 01, 2013 to Jun 30, 2014 • Filed on Dec 15, 2014

Organization ProfileN/A
500 University Ave W58701

(701) 858-3368

Siviq Scores

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

Liabilities / Assets

43rd percentile

0.18x

Higher debt load relative to assets than 43% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Liabilities / Revenue

74th percentile

0.74x

Higher debt load relative to revenue than 74% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Net Margin

97th percentile

80%

Higher net margin than 97% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Top Officer Pay

79th percentile

$296,533

Higher top officer pay than 79% of similar nonprofits.

Top officer pay equals 5.1% of source-year revenue.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Asset Growth

92nd percentile

34%

Faster asset growth than 92% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2013 to 2014

Revenue Growth

87th percentile

41%

Faster revenue growth than 87% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2011 to 2014

Balance Sheet
Liabilities / Assets43rd percentile

Assets

Up

$24,326,635

Up $6,211,230 (+34%) from 2013

Net Assets

Up

$20,067,898

Up $5,718,280 (+40%) from 2013

Liabilities

Up

$4,258,737

Up $492,950 (+13%) from 2013

Revenue And Expenses
Liabilities / Revenue74th percentileNet Margin97th percentile

Revenue

$5,762,806

No earlier filing loaded for comparison.

Expenses

Down

$1,142,813

Down $66,425 (-5.5%) from 2013

Net Income

$4,619,993

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth92nd percentile

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

$80M$60M$40M$20M$0Assets 2011: $13,964,553Liabilities 2011: $222,361Net Assets 2011: $13,742,1922011Assets 2012: $17,461,769Liabilities 2012: $4,349,514Net Assets 2012: $13,112,2552012Assets 2013: $18,115,405Liabilities 2013: $3,765,787Net Assets 2013: $14,349,6182013Assets 2014: $24,326,635Liabilities 2014: $4,258,737Net Assets 2014: $20,067,8982014Assets 2015: $25,125,218Liabilities 2015: $3,581,980Net Assets 2015: $21,543,2382015Assets 2016: $28,783,696Liabilities 2016: $6,681,803Net Assets 2016: $22,101,8932016Assets 2017: $30,970,392Liabilities 2017: $5,925,058Net Assets 2017: $25,045,3342017Assets 2018: $34,124,884Liabilities 2018: $5,825,560Net Assets 2018: $28,299,3242018Assets 2019: $37,010,968Liabilities 2019: $6,580,879Net Assets 2019: $30,430,0892019Assets 2020: $37,175,761Liabilities 2020: $6,026,385Net Assets 2020: $31,149,3762020Assets 2021: $52,044,466Liabilities 2021: $10,665,621Net Assets 2021: $41,378,8452021Assets 2022: $52,940,174Liabilities 2022: $10,126,088Net Assets 2022: $42,814,0862022Assets 2023: $57,770,697Liabilities 2023: $10,454,711Net Assets 2023: $47,315,9862023Assets 2024: $61,683,908Liabilities 2024: $10,496,725Net Assets 2024: $51,187,1832024

Highlighted filing

2014

Assets$24,326,635
Liabilities$4,258,737
Net Assets$20,067,898
Open 2014 Filing

Operations Trend

Revenue Growth87th percentile

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

$15M$10M$5.0M$0-$5.0MRevenue 2011: $2,054,843Expenses 2011: $508,779Net Income 2011: $1,546,0642011Expenses 2012: $1,097,6402012Expenses 2013: $1,209,2382013Revenue 2014: $5,762,806Expenses 2014: $1,142,813Net Income 2014: $4,619,9932014Revenue 2015: $3,302,809Expenses 2015: $1,471,265Net Income 2015: $1,831,5442015Revenue 2016: $5,710,206Expenses 2016: $1,224,868Net Income 2016: $4,485,3382016Revenue 2017: $4,123,166Expenses 2017: $1,517,175Net Income 2017: $2,605,9912017Revenue 2018: $5,982,199Expenses 2018: $2,976,193Net Income 2018: $3,006,0062018Revenue 2019: $3,875,157Expenses 2019: $2,454,641Net Income 2019: $1,420,5162019Revenue 2020: $3,378,893Expenses 2020: $2,545,458Net Income 2020: $833,4352020Revenue 2021: $7,678,265Expenses 2021: $2,368,146Net Income 2021: $5,310,1192021Revenue 2022: $11,663,994Expenses 2022: $2,806,889Net Income 2022: $8,857,1052022Revenue 2023: $5,304,845Expenses 2023: $3,230,752Net Income 2023: $2,074,0932023Revenue 2024: $5,668,064Expenses 2024: $5,668,219Net Income 2024: -$1552024

Highlighted filing

2014

Revenue$5,762,806
Expenses$1,142,813
Net Income$4,619,993
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Dec 15, 2014
Return Version
2013v3.0
Gross Receipts
$6,835,490
Mission and Program Overview

Mission

To establish, promote and stimulate voluntary financial support for the benefit of minot state university, especially in building of endowment and in addressing the long-term priorities of the university.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$11,310,098$17,058,483▲ $5,748,385
Land, Buildings, and Equipment, Net$4,720,922$5,348,709▲ $627,787
Cash and Non-Interest-Bearing Accounts$1,630,264$826,168▼ $804,096
Pledges and Grants Receivable$30,500$560,857▲ $530,357
Other Notes and Loans Receivable, Net$422,213$344,971▼ $77,242
Prepaid Expenses and Deferred Charges-$9,355-
Accounts Receivable$1,408$360▼ $1,048
Total Assets$18,115,405$24,326,635▲ $6,211,230
Other Assets Total$0$177,732▲ $177,732
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,933,987$3,419,904▲ $485,917
Other Liabilities$830,248$828,154▼ $2,094
Accounts Payable and Accrued Expenses$1,552$10,679▲ $9,127
Total Liabilities$3,765,787$4,258,737▲ $492,950
Net Assets / Fund Balance
Permanently Rstr Net Assets$11,384,865$16,027,983▲ $4,643,118
Temporarily Rstr Net Assets$358$2,036,573▲ $2,036,215
Unrestricted Net Assets$2,964,395$2,003,342▼ $961,053
Total Net Assets Fund Balance$14,349,618$20,067,898▲ $5,718,280
Total Liabilities and Net Assets / Fund Balance$18,115,405$24,326,635▲ $6,211,230

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,101,594$407,575-
Other Land Buildings$703,759--
Land$533,710--
Equipment$9,646$109,764-

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2013$14,207,306$3,948,283▲ $2,170,750$976,852$19,733,733
2012$12,412,174$632,196▲ $763,872$560,697$13,247,545
2011$12,758,023$471,393▼ $320,477$496,765$12,412,174
2010$10,345,275$1,274,402▲ $1,758,985$620,639$12,758,023
2009$9,611,477$638,814▲ $965,193$870,209$10,345,275
Compensation and Service Providers
Top Officer Pay79th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Marv SemrauDirectorPT$139,134$139,134

Board Members and Trustees

NameTitle
Maynard SandbergPresident
Tom ProbstVice President
Bob SandoDirector
Dave ReitenDirector
David GowanDirector
Dr David FullerDirector
Dr Doris SlaatenDirector
Jon BackesDirector
Karen KrebsbachDirector
Kathy AasDirector
Kathy GaddieDirector
Myron ThompsonDirector
Brian FoisyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$4,529,456
Program Service Revenue
$139,701
Investment Income
$960,836
Other Revenue
$132,813
All Other Contributions
$4,145,210
Change in Net Assets
$4,619,993

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,269,657
Revenue Not Reported on Financial Statements
$-506,851
Revenue Not Reported on Form 990
$1,098,288
Other Revenue Adjustments
$-506,851
Total Revenue per Audited Statements
$7,367,945
Total Revenue per Form 990
$5,762,806
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$841,565
Other Expenses$224,437
Salaries, Compensation, and Employee Benefits$76,811
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$841,565--$841,565
Other Salaries and Wages$76,811--$76,811
Occupancy$20,438--$20,438
Fees for Services Accounting$14,050--$14,050
All Other Expenses$11,756--$11,756
Depreciation Depletion$7,121--$7,121
Insurance$6,805--$6,805
Other Expenses$6,061--$6,061
Travel$1,415--$1,415
Advertising$1,285--$1,285
Total Functional Expenses$1,142,813$0$0$1,142,813

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,649,665
Expenses per Audited Statements$1,142,813
Total Expenses per Form 990$1,142,813
Expenses Not Reported on Form 990$506,852
Expenses Not Reported on Financial Statements$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
45-6002481-501(c)(3)Provide Scholarship Funds to Minot State University Students$841,565
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
Due to Minot State University$458,077
Annuities Payable$369,376
Accrued Liabilities$701
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
No
Other officer compensation reviewed
No
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 B, Line 11

“The board of directors reviews the 990 prior to filing”

Form 990, Part VI, Section B, Line 12C

“Board members monitor compliance with the conflict of interest policy”

Form 990, Part VI, Section C, Line 19

“All documents are available upon request”

Filing and Contact Details

Filer

EIN
45-0344784
Phone
7018583368

Signing Officer

Name
Brian Foisy
Title
VP for Administration and Finance
Phone
7018583368
Signed
2014-12-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brian Foisy
Formed
1943
Legal Domicile
Nd
Voting Board Members
14
Independent Board Members
11
Employees
17
Volunteers
14

Preparer

Preparer
Angela K Zerr CPA
Phone
7018520196
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“Oversight process has not changed”

Financial Statement Notes

PART V, LINE 4:

“PAYMENT OF SCHOLARSHIPS”

PART X, LINE 2:

“Income tax status - the foundation is organized as a north dakota nonprofit corporation and is exempt from federal income taxes under section 501(c)(3) of the internal revenue code. The foundation's policy is to evaluate the likelihood that its uncertain tax positions will prevail upon examination based on the extent to which those positions have substantial support within the internal revenue code and regulations, revenue ruling, court decisions and other evidence. It is the opinion of management that the foundation has no significant uncertain tax positions that would be subject to change upon examination. The federal income tax returns of the foundation are subject to examination by the irs, generally for three years after they were filed.”

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“Rental expenses netted with income on page 1 line 11 -506,851.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Rental expenses netted with rental income on page 1 line 11 506,852.”

Raw XML AppendixShowing 400 of 610 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/ActivityOrMissionDesc0TO ESTABLISH, PROMOTE AND STIMULATE VOLUNTARY FINANCIAL SUPPORT FOR THE BENEFIT OF MINOT STATE UNIVERSITY, ESPECIALLY IN BUILDING OF ENDOWMENT AND IN ADDRESSING THE LONG-TERM PRIORITIES OF THE UNIVERSITY.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
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IRS990/InsuranceGrp/ProgramServicesAmt06805
IRS990/InsuranceGrp/TotalAmt06805
IRS990/InvestmentIncomeGrp/ExclusionAmt0266174
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0266174
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsPubTradedSecGrp/BOYAmt011310098
IRS990/InvestmentsPubTradedSecGrp/EOYAmt017058483
IRS990/IRPDocumentCnt022
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0517339
IRS990/LandBldgEquipBasisNetGrp/BOYAmt04720922
IRS990/LandBldgEquipBasisNetGrp/EOYAmt05348709
IRS990/LandBldgEquipCostOrOtherBssAmt05866048
IRS990/LegalDomicileStateCd0ND
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt0565833
IRS990/LessRentalExpensesGrp/RealAmt0506851
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO ESTABLISH, PROMOTE AND STIMULATE VOLUNTARY FINANCIAL SUPPORT FOR THE BENEFIT OF MINOT STATE UNIVERSITY, ESPECIALLY IN BUILDING OF ENDOWMENT AND IN ADDRESSING THE LONG-TERM PRIORITIES OF THE UNIVERSITY.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt02933987
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt03419904
IRS990/NetAssetsOrFundBalancesBOYAmt014349618
IRS990/NetAssetsOrFundBalancesEOYAmt020067898
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt0694662
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0694662
IRS990/NetRentalIncomeOrLossGrp/ExclusionAmt0107626
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt0116969
IRS990/NetRentalIncomeOrLossGrp/UnrelatedBusinessRevenueAmt09343
IRS990/NetUnrelatedBusTxblIncmAmt08104
IRS990/NetUnrlzdGainsLossesInvstAmt01098287
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt020438
IRS990/OccupancyGrp/TotalAmt020438
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt00
IRS990/OtherAssetsTotalGrp/EOYAmt0177732
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0FEES
IRS990/OtherExpensesGrp/Desc1ENTREPRENEURSHIP CLUB C
IRS990/OtherExpensesGrp/Desc2SALES TAX
IRS990/OtherExpensesGrp/Desc3SUPPLIES
IRS990/OtherExpensesGrp/ProgramServicesAmt0104390
IRS990/OtherExpensesGrp/ProgramServicesAmt141474
IRS990/OtherExpensesGrp/ProgramServicesAmt29642
IRS990/OtherExpensesGrp/ProgramServicesAmt36061
IRS990/OtherExpensesGrp/TotalAmt0104390
IRS990/OtherExpensesGrp/TotalAmt141474
IRS990/OtherExpensesGrp/TotalAmt29642
IRS990/OtherExpensesGrp/TotalAmt36061
IRS990/OtherLiabilitiesGrp/BOYAmt0830248
IRS990/OtherLiabilitiesGrp/EOYAmt0828154
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0ACTIVITY FEES
IRS990/OtherRevenueMiscGrp/ExclusionAmt015844
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt015844
IRS990/OtherRevenueTotalAmt015844
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt076811
IRS990/OtherSalariesAndWagesGrp/TotalAmt076811
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0422213
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0344971
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt011384865
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt016027983
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt030500
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0560857
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt09355
IRS990/PrincipalOfficerNm0BRIAN FOISY
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0722210
IRS990/ProgramServiceRevenueGrp/Desc0ENTREPRENEURSHIP CLUB REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0139701
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0139701
IRS990/ProgSrvcAccomActy2Grp/Desc0ENTREPRENEURSHIP CLUB WHICH PROVIDES LEARNING OPPORTUNITIES FOR STUDENTS IN THE COLLEGE OF BUSINESS.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0185467
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0139701
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt01238877
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0934525
IRS990/PYInvestmentIncomeAmt0820777
IRS990/PYOtherExpensesAmt0206039
IRS990/PYOtherRevenueAmt0112322
IRS990/PYProgramServiceRevenueAmt0104228
IRS990/PYRevenuesLessExpensesAmt01066966
IRS990/PYSalariesCompEmpBnftPaidAmt068674
IRS990/PYTotalExpensesAmt01209238
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt02276204
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt04619993
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/RealAmt0116969
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990ScheduleA/Contribution35ControlledInd00
IRS990ScheduleA/ContributionControllerInd00
IRS990ScheduleA/ContributionFamilyInd00
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0456002481
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeDesc06
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt0841565
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine10MINOT STATE UNIVERSITY
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrgNotifiedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/USOrganizedInd01
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType2Ind0X
IRS990ScheduleA/SupportSumAmt0841565
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BoardDesignatedBalanceEOYPct00.08460
IRS990ScheduleD/BuildingsGrp/BookValueAmt04101594
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0407575
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt04509169
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt014207306
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt03948283
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt019733733
IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt0384246
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt02170750
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt0976852
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt012412174
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt0632196
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt013247545
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0763872
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt0560697
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt012758023
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt0471393
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt012412174
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-320477
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/OtherExpendituresAmt0496765
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt010345275
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt01274402
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt012758023
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt01758985
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/OtherExpendituresAmt0620639
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt09611477
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt0638814
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt010345275
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0965193
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/OtherExpendituresAmt0870209
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt09646
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0109764
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt0119410
IRS990ScheduleD/ExpensesNotReportedAmt0506852
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01142813
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt0533710
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt0533710
IRS990ScheduleD/NetUnrealizedGainsInvstAmt01098288
IRS990ScheduleD/OtherExpensesIncludedAmt0506852
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0703759
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt0703759
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0369376
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1701
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2458077
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ANNUITIES PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1ACCRUED LIABILITIES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2DUE TO MINOT STATE UNIVERSITY
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0-506851
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.81220
IRS990ScheduleD/RevenueNotReportedAmt01098288
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0-506851
IRS990ScheduleD/RevenueSubtotalAmt06269657
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0PAYMENT OF SCHOLARSHIPS
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1INCOME TAX STATUS - THE FOUNDATION IS ORGANIZED AS A NORTH DAKOTA NONPROFIT CORPORATION AND IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE FOUNDATION'S POLICY IS TO EVALUATE THE LIKELIHOOD THAT ITS UNCERTAIN TAX POSITIONS WILL PREVAIL UPON EXAMINATION BASED ON THE EXTENT TO WHICH THOSE POSITIONS HAVE SUBSTANTIAL SUPPORT WITHIN THE INTERNAL REVENUE CODE AND REGULATIONS, REVENUE RULING, COURT DECISIONS AND OTHER EVIDENCE. IT IS THE OPINION OF MANAGEMENT THAT THE FOUNDATION HAS NO SIGNIFICANT UNCERTAIN TAX POSITIONS THAT WOULD BE SUBJECT TO CHANGE UPON EXAMINATION. THE FEDERAL INCOME TAX RETURNS OF THE FOUNDATION ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2RENTAL EXPENSES NETTED WITH INCOME ON PAGE 1 LINE 11 -506,851.

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$24,326,635
Liabilities
$4,258,737
Net assets
$20,067,898
Revenue
$5,762,806
Expenses
$1,142,813
Net income
$4,619,993
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$61.7$10.5$51.2$5.67$5.67$0.00
2023Detailed filing. Detailed filing data is available for this year.$57.8$10.5$47.3$5.30$3.23$2.07
2022Detailed filing. Detailed filing data is available for this year.$52.9$10.1$42.8$11.7$2.81$8.86
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$52.0$10.7$41.4$7.68$2.37$5.31
2020Detailed filing. Detailed filing data is available for this year.$37.2$6.03$31.1$3.38$2.55$0.83
2019Detailed filing. Detailed filing data is available for this year.$37.0$6.58$30.4$3.88$2.45$1.42
2018Detailed filing. Detailed filing data is available for this year.$34.1$5.83$28.3$5.98$2.98$3.01
2017Detailed filing. Detailed filing data is available for this year.$31.0$5.93$25.0$4.12$1.52$2.61
2016Detailed filing. Detailed filing data is available for this year.$28.8$6.68$22.1$5.71$1.22$4.49
2015Detailed filing. Detailed filing data is available for this year.$25.1$3.58$21.5$3.30$1.47$1.83
2014Detailed filing. Detailed filing data is available for this year.$24.3$4.26$20.1$5.76$1.14$4.62
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.1$3.77$14.3$1.21
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.5$4.35$13.1$1.10
2011Summary only. Only limited summary data is available for this year.$14.0$0.22$13.7$2.05$0.51$1.55