Williston State College Foundation
- Assets
- $26.9m
- Revenue
- $7.2m
- Investments
- $0.0
- Employees
- 15
- Location
- Williston, ND
- Founding
- 10/1963
- Data as of
- 06/2022
- EIN
- 45-6012226
Organization Overview
Williston State College Foundation is located in Williston, ND. The organization was established in 1963. 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 06/2022, Williston State College Foundation employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Williston State College 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 06/2022, Williston State College Foundation generated $7.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $3.3m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Williston State College Foundation has awarded 16 individual grants totaling $17,087,403. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND SUPPORT WILLISTON STATE COLLEGE IN WILLISTON, NORTH DAKOTA.
Describe the Organization's Program Activity:
THE FOUNDATION PROVIDES SCHOLARSHIPS TO STUDENTS OF WILLISTON STATE COLLEGE FOR HIGHER EDUCATION, CONTINUING EDUCTION, AND STAFF GRANTS TO SUPPORT COLLEGE AND COMMUNITY PROJECTS.
THE FOUNDATION OWNS PROPERTY AND EQUIPMENT THROUGH THEIR PARTNERSHIP WITH WILLISTON STATE COLLLEGE HOUSING, LLC. THIS PROPERTY IS RENTED BY WILLISTON STATE COLLEGE EMPLOYEES AND OTHER ESSENTIAL PERSONNEL AND AFFILIATES. REVENUES DERIVED FROM THIS PROGRAM SERVICE WERE $1,446,603, AND RELATED EXPENSES WERE $1,943,671. THIS PROGRAM RENTAL ACTIVITY IS PRESENTED ON FORM 990 IN SECTION VIII, LINES 6A AND 6B.
THE FOUNDATION MAKES CONTRIBUTIONS TO VARIOUS CHARITABLE ORGANIZATIONS THAT PROVIDE SUPPORT TO THE WILLISTON, NORTH DAKOTA AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ward Koeser President | OfficerTrustee | 2.5 | $0 |
Larry Grondahl Vice President | OfficerTrustee | 0.5 | $0 |
Katie Kringen Secretary/treasurer | OfficerTrustee | 0.5 | $0 |
Lee Murphy Director | Trustee | 0.5 | $0 |
Rick Medalen Director | Trustee | 0.5 | $0 |
Brandon Johnson Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,825,489 |
| Noncash contributions included in lines 1a–1f | $586,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,825,489 |
| Total Program Service Revenue | $0 |
| Investment income | $9,508 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$475,068 |
| Net Gain/Loss on Asset Sales | $196,154 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $563,164 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,223,320 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,822,961 |
| 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. | $212,016 |
| Compensation of current officers, directors, key employees. | $96,009 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $75,994 |
| Pension plan accruals and contributions | $36,164 |
| Other employee benefits | $35,288 |
| Payroll taxes | $21,392 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $24,437 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $750 |
| Advertising and promotion | $36,884 |
| Office expenses | $7,034 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $30,587 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $28 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,695 |
| Insurance | $3,855 |
| All other expenses | -$27,874 |
| Total functional expenses | $3,328,260 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $142,523 |
| Savings and temporary cash investments | $5,382,045 |
| Pledges and grants receivable | $3,546,000 |
| Accounts receivable, net | $6,500 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $15,222 |
| Net Land, buildings, and equipment | $15,515,351 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,829,807 |
| Other assets | $413,836 |
| Total assets | $26,851,284 |
| Accounts payable and accrued expenses | $201,032 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $98,409 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $5,817,583 |
| Unsecured mortgages and notes payable | $6,000,000 |
| Other liabilities | $18,496 |
| Total liabilities | $12,135,520 |
| Net assets without donor restrictions | $2,710,070 |
| Net assets with donor restrictions | $12,005,694 |
| 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 | $26,851,284 |
Grants Awarded
Over the last fiscal year, Williston State College Foundation has awarded $2,790,361 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
WILLISTON STATE COLLEGE PURPOSE: STUDENT SCHOLARSHIPS, COLLEGE INFRASTRUCTURE AND PROGRAM SUPPORT. | $2,773,061 |
TETON BOOSTER CLUB PURPOSE: IMPROVEMENTS TO BASEBALL FIELD | $5,500 |
BRAS FOR A CAUSE WILLISTON ND PURPOSE: PROVIDE AID AND RELIEF TO WILLISTON COMMUNITY MEMBERS | $11,800 |