Northern State University Foundation
- Assets
- $63.5m
- Revenue
- $8.4m
- Investments
- $32.7m
- Employees
- 32
- Location
- Aberdeen, SD
- Founding
- 02/1969
- Data as of
- 06/2023
- EIN
- 23-7002314
Organization Overview
Northern State University Foundation is located in Aberdeen, SD. The organization was established in 1969. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2023, Northern State University Foundation employed 32 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northern State University Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Northern State University Foundation generated $8.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.3% each year. All expenses for the organization totaled $7.7m during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Northern State University Foundation has awarded 75 individual grants totaling $155,909,753. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO SOLICIT, ADMINISTER FUNDS & PURSUE OTHER ACTIVITIES DEDICATED TO SECURING THE FUTURE OF NSU.
Describe the Organization's Program Activity:
NSU FOUNDATION PAID 852 ACADEMIC, 668 DEPARTMENTAL, AND 639 ATHLETIC SCHOLARSHIPS TO STUDENTS ATTENDING NORTHERN STATE UNIVERSITY.
NSU FOUNDATION PROVIDED FUNDS TO SUPPORT NORTHERN STATE UNIVERSITY SPECIAL PROJECTS, INCLUDING DEPARTMENTAL SUPPORT OF $1,116,728, ATHLETIC SUPPORT OF $920,455 INCLUDING $104,640 OF DONATED SERVICES AND USE OF FACILITIES, OPERATIONAL SUPPORT OF $208,365 AND BUILDING ADDITIONS AND RENOVATIONS OF $201,937.
NSU FOUNDATION PROVIDED SUPPORT FOR ALUMNI EVENTS TO DEVELOP A SPIRIT OF CAMARADERIE AND FRATERNITY AMONG THE NSU ALUMNI, DONORS, AND FRIENDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Zach Flakus President/ceo/non-Voting Director | OfficerTrustee | 40 | $183,119 |
Dr Neal Schnoor Non-Voting Director | Trustee | 2 | $3,597 |
Megan Biegler Chair | OfficerTrustee | 2 | $0 |
Mike Bockorny Past-Chair | OfficerTrustee | 2 | $0 |
Steve Stickelmyer Chair-Elect | OfficerTrustee | 2 | $0 |
Greg Wieker Secretary/treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $304,644 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,824,946 |
| Noncash contributions included in lines 1a–1f | $306,236 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,129,590 |
| Total Program Service Revenue | $877,094 |
| Investment income | $582,527 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $21,226 |
| Net Gain/Loss on Asset Sales | $1,784,002 |
| Net Income from Fundraising Events | -$878 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,393,561 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,765,153 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $349,455 |
| Compensation of current officers, directors, key employees. | $186,090 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $633,591 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,314 |
| Fees for services: Accounting | $68,122 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $158,878 |
| Fees for services: Other | $7,231 |
| Advertising and promotion | $64,835 |
| Office expenses | $48,412 |
| Information technology | $72,710 |
| Royalties | $0 |
| Occupancy | $16,488 |
| Travel | $8,012 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,659 |
| Interest | $381,290 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,670 |
| Insurance | $15,706 |
| All other expenses | $50,971 |
| Total functional expenses | $7,737,550 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $6,812,542 |
| Pledges and grants receivable | $9,340,345 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $56,739 |
| Prepaid expenses and deferred charges | $19,170 |
| Net Land, buildings, and equipment | $809,611 |
| Investments—publicly traded securities | $11,766,524 |
| Investments—other securities | $32,721,071 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,995,923 |
| Total assets | $63,521,925 |
| Accounts payable and accrued expenses | $534,958 |
| Grants payable | $0 |
| Deferred revenue | $227,210 |
| Tax-exempt bond liabilities | $6,045,786 |
| Escrow or custodial account liability | $1,850 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $5,596,872 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $12,406,676 |
| Net assets without donor restrictions | $1,489,033 |
| Net assets with donor restrictions | $49,626,216 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $63,521,925 |
Grants Awarded
Over the last fiscal year, Northern State University Foundation has awarded $5,765,153 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
NORTHERN STATE UNIVERSITY PURPOSE: Scholarships | $3,422,308 |
NORTHERN STATE UNIVERSITY PURPOSE: Capital Projects | $201,937 |
NORTHERN STATE UNIVERSITY PURPOSE: Athletic Support | $815,815 |
NORTHERN STATE UNIVERSITY PURPOSE: Operational Support | $208,365 |
NORTHERN STATE UNIVERSITY PURPOSE: Special Projects | $1,116,728 |