North Dakota State University Foundation
- Assets
- $575.5m
- Revenue
- $58.2m
- Investments
- $156.4m
- Employees
- 58
- Location
- Fargo, ND
- Founding
- 07/1971
- Data as of
- 12/2022
- EIN
- 23-7120898
Organization Overview
North Dakota State University Foundation, operating under the name NDSU Foundation NDSU Foundation and Alumni Association, is located in Fargo, ND. The organization was established in 1971. 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 12/2022, NDSU Foundation NDSU Foundation and Alumni Association employed 58 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. NDSU Foundation NDSU Foundation and Alumni Association 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 12/2022, NDSU Foundation NDSU Foundation and Alumni Association generated $58.2m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 14.9% each year . All expenses for the organization totaled $55.5m during the year ending 12/2022. While expenses have increased by 15.4% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
BUILDING ENDURING RELATIONSHIPS THAT MAXIMIZE ADVOCACY AND PHILANTHROPY TO SUPPORT NDSU.
Describe the Organization's Program Activity:
GRANTS TO NDSU FOR BUILDINGS, EQUIPMENT, RESEARCH, LECTURES, FACULTY DEVELOPMENT, SUPPLIES, TRAVEL AND OTHER DEPARTMENTAL NEEDS AND ACTIVITIES NOT FUNDED THROUGH STATE APPROPRIATIONS OR STUDENT TUITION FEES.
SCHOLARSHIPS AND AWARDS TO STUDENTS ENROLLED AT NORTH DAKOTA STATE UNIVERSITY SELECTED BY INDEPENDENT SCHOLARSHIP COMMITTEES.
ALUMNI RECORDS, NEWSLETTERS AND SPECIAL EVENTS SUCH AS HOMECOMING, CITY ALUMNI/STUDENT EXCHANGES. SPONSOR UNIVERSITY PROGRAMS SUCH AS HARVEST BOWL AND CELEBRATION OF EXCELLENCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John R Glover President & CEO | Officer | 60 | $375,608 |
Allyson Peterson Sr. VP Of Finance & Operation/cfo | Officer | 40 | $196,684 |
Monique Anderson Sr. VP Of Development | 40 | $184,141 | |
Gail Dancer VP Of Information Services | 40 | $138,971 | |
Lisa Otterson Managing Director Of Development | 40 | $121,950 | |
Randy Schmeling Sr. Director Of Development | 40 | $121,599 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Blackbaud Donor & Financial Software Service | 12/30/22 | $226,819 |
Sei Investment Management | 12/30/22 | $2,037,201 |
Pioneer Llc Housing Demolition | 12/30/22 | $155,269 |
Ruffalo Noel Levitz Professional Fundraising | 12/30/22 | $172,247 |
Livewire Entertainment Media Services Event Audio/visual Services | 12/30/22 | $147,519 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $583,767 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $31,126,535 |
| Noncash contributions included in lines 1a–1f | $5,828,153 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $31,710,302 |
| Total Program Service Revenue | $993,494 |
| Investment income | $24,391,038 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $176,187 |
| Net Rental Income | -$666,907 |
| Net Gain/Loss on Asset Sales | $1,640,622 |
| Net Income from Fundraising Events | -$118,355 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $33,618 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $58,170,689 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $44,592,776 |
| 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. | $669,893 |
| Compensation of current officers, directors, key employees. | $455,369 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,630,627 |
| Pension plan accruals and contributions | $328,517 |
| Other employee benefits | $742,376 |
| Payroll taxes | $298,813 |
| Fees for services: Management | $119,182 |
| Fees for services: Legal | $90,504 |
| Fees for services: Accounting | $46,270 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $172,247 |
| Fees for services: Investment Management | $2,126,802 |
| Fees for services: Other | $5,991 |
| Advertising and promotion | $105,911 |
| Office expenses | $381,133 |
| Information technology | $301,987 |
| Royalties | $0 |
| Occupancy | $218,012 |
| Travel | $333,366 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $177,121 |
| Interest | $246,584 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $182,518 |
| Insurance | $108,239 |
| All other expenses | $197 |
| Total functional expenses | $55,497,623 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $7,351,267 |
| Pledges and grants receivable | $54,954,377 |
| Accounts receivable, net | $559,348 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $582,400 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $318,647 |
| Net Land, buildings, and equipment | $28,879,272 |
| Investments—publicly traded securities | $324,856,006 |
| Investments—other securities | $156,399,142 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,593,952 |
| Total assets | $575,494,411 |
| Accounts payable and accrued expenses | $3,213,719 |
| Grants payable | $262,753 |
| Deferred revenue | $39,080 |
| Tax-exempt bond liabilities | $9,610,000 |
| Escrow or custodial account liability | $1,049,460 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $18,145,890 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,463,813 |
| Total liabilities | $40,784,715 |
| Net assets without donor restrictions | $30,280,246 |
| Net assets with donor restrictions | $504,429,450 |
| 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 | $575,494,411 |
Grants Awarded
Over the last fiscal year, North Dakota State University Foundation has awarded $18,936,300 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
NORTH DAKOTA STATE UNIVERSITY PURPOSE: Cash grants provided for student scholarships, faculty support, departmental support for equipment, research, supplies, travel, etc. | $17,968,800 |
TEAM MAKERS CLUB INC PURPOSE: Construction of the NDSU Sports Bubble | $967,500 |