University Of South Dakota Foundation
- Assets
- $352.8m
- Revenue
- $49.6m
- Investments
- $44.3m
- Employees
- 48
- Location
- Vermillion, SD
- Founding
- 07/1967
- Data as of
- 12/2020
- EIN
- 46-6018891
Organization Overview
University Of South Dakota Foundation is located in Vermillion, SD. The organization was established in 1967. 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 12/2021, University Of South Dakota Foundation employed 48 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University Of South Dakota 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 12/2020, University Of South Dakota Foundation generated $49.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 19.5% each year . All expenses for the organization totaled $22.1m during the year ending 12/2020. While expenses have increased by 18.4% 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.
Since 2015, University Of South Dakota Foundation has awarded 44 individual grants totaling $115,458,166. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE PRIVATE RESOURCES TO BENEFIT THE UNIVERSITY OF SOUTH DAKOTA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SCHOLARSHIP FUNDS TO INCREASE THE ACADEMIC EXCELLENCE OF THE STUDENT BODY AND THE QUALITY OF THEIR EDUCATIONAL EXPERIENCE. SCHOLARSHIPS ARE AWARDED FOR BOTH RECRUITING AND RETENTION PURPOSES. FOR THE 2020-2021 ACADEMIC YEAR, $9.5 MILLION IN SCHOLARSHIPS WERE AWARDED. FOR THE 2021-2022 ACADEMIC YEAR, $10 MILLION IN SCHOLARSHIPS WERE AWARDED. THIS LEVEL OF FUNDING REPRESENTS AN INCREASE OF 33.5% OVER THE LAST 5 YEARS.
PROVIDE FUNDS TO CONSTRUCT NEW CAMPUS FACILITIES AND RESTORE, REPAIR AND MAINTAIN EXISTING FACILITIES. THE FOUNDATION HAS BEEN INSTRUMENTAL IN A MAJOR RENOVATION AND RECONSTRUCTION PLAN FOR FACILITIES AT USD. SINCE 1996, $98.9 MILLION HAS BEEN PROVIDED FOR FACILITIES THAT HAVEENHANCED THE STUDENTS' EDUCATIONAL EXPERIENCE AND OPPORTUNITIES.
PROVIDE FUNDS TO SUPPORT ACADEMIC FACULTY THROUGH SALARY AUGMENTATION, RESEARCH AND PROFESSIONAL DEVELOPMENT, SUPPORT OF STUDENT TRAVEL AND RESEARCH, AND SUPPORT OF USD MUSEUMS AND VARIOUS AUXILIARY PROGRAMS. IN 2021, $3.5 MILLION WAS PROVIDED TO SUPPORT THESE NEEDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Brown President And CEO | Officer | 40 | $311,260 |
Christine Tjelmeland CFO | Officer | 40 | $214,979 |
Nick Kotzea Sec/treas; Chief Gov Officer | Officer | 40 | $170,107 |
Michelle Green Vp-Philanthropy & Engagement - Left 11/2021 | Officer | 40 | $158,565 |
Cynthia Whitney Executive Director Of Philanthropy | 40 | $152,275 | |
Andrew Carr Director Of Athletic Development | 40 | $121,801 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bwf Fundraising Support, Consulting, Benchma | 12/30/21 | $115,289 |
Wittkieffer Inc Ceo Search | 12/30/21 | $100,022 |
Erickson Solutions Group It Support And Equipment | 12/30/21 | $165,367 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $27,405,142 |
| Investment income | $4,240,140 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $13,792 |
| Net Gain/Loss on Asset Sales | $16,947,533 |
| Net Income from Fundraising Events | $156,604 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $49,591,248 |
| Statement of Expenses | |
|---|---|
| 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. | $744,377 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,990,465 |
| Pension plan accruals and contributions | $108,392 |
| Other employee benefits | $322,255 |
| Payroll taxes | $262,220 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $18,388 |
| Fees for services: Accounting | $50,188 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $118,195 |
| Fees for services: Investment Management | $1,111,519 |
| Fees for services: Other | $82,342 |
| Advertising and promotion | $269,332 |
| Office expenses | $89,452 |
| Information technology | $224,534 |
| Royalties | $0 |
| Occupancy | $187,564 |
| Travel | $92,314 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $130,025 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $157,059 |
| Insurance | $40,053 |
| All other expenses | $0 |
| Total functional expenses | $22,065,023 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $13,615,168 |
| Pledges and grants receivable | $22,283,536 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,000,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $207,865 |
| Investments—publicly traded securities | $266,305,852 |
| Investments—other securities | $44,291,136 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,710,485 |
| Total assets | $352,818,128 |
| Accounts payable and accrued expenses | $691,194 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $19,523,125 |
| Total liabilities | $20,214,319 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $332,603,809 |
Grants Awarded
Over the last fiscal year, University Of South Dakota Foundation has awarded $15,470,243 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF SOUTH DAKOTA PURPOSE: $9,985,479 FOR SCHOLARSHIPS, $1,996,378 FOR FACILITIES AND $3,449,882 OTHER DEPARTMENTAL SUPPORT | $15,431,739 |
SOUTH DAKOTA STATE UNIVERSITY PURPOSE: SCHOLARSHIPS | $23,504 |
Vermillion, SD PURPOSE: PROGRAM SUPPORT | $15,000 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that University Of South Dakota Foundation has recieved totaling $1,331,024.
| Awarding Organization | Amount |
|---|---|
Alumni Association Of The University Of South Dakota Vermillion, SD PURPOSE: ENDOWMENT FOR SCHOLARSHIPS OF USD ALUMNI CHILDREN | $1,197,534 |
Alumni Association Of The University Of South Dakota Vermillion, SD PURPOSE: FOR SCHOLARSHIPS OF USD ALUMNI CHILDREN | $58,188 |
Dokken Family Foundation Dakota Dunes, SD PURPOSE: COYOTE ATHLETIC COMPLEX | $50,000 |
Joy A Cunningham Charitable Foundation Tr Sarasota, FL PURPOSE: CHARITABLE | $25,000 |
First Interstate Bancsystem Foundation Inc Billings, MT PURPOSE: GENERAL OPERATING SUPPORT | $302 |
Endowment Analysis
| Beg. Balance | $308,697,131 |
| Earnings | $25,213,794 |
| Admin Expense | $5,073,977 |
| Net Contributions | $7,129,249 |
| Grants | $9,144,193 |
| Ending Balance | $326,822,004 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Und Aerospace Foundation Grand Forks, ND | $87,259,673 | $35,764,126 |
South Dakota State University Foundation Brookings, SD | $287,960,105 | $54,798,337 |
Und Alumni Association And Foundation Grand Forks, ND | $413,170,247 | $55,226,015 |
University Of Montana Foundation Missoula, MT | $300,141,439 | $43,572,466 |
North Dakota State University Foundation Fargo, ND | $450,450,295 | $29,663,255 |
Northern State University Foundation Aberdeen, SD | $84,974,607 | $23,577,331 |
Montana State University Foundation Bozeman, MT | $271,741,291 | $31,692,855 |
University Of South Dakota Foundation Vermillion, SD | $352,818,128 | $49,591,248 |
University Of Northern Iowa Foundation Cedar Falls, IA | $173,378,893 | $31,725,389 |
National Assistance Foundation Des Moines, IA | $16,519,301 | $16,875,706 |
Sioux Falls Christian Schools Association Sioux Falls, SD | $33,580,780 | $15,294,565 |
Grinnell College Medical Benefit Plan Trust Agreement Grinnell, IA | $11,174,588 | $9,791,771 |