University Of South Dakota Foundation
- Assets
- $335.0m
- Revenue
- $26.3m
- Investments
- $34.7m
- Employees
- 45
- Location
- Vermillion, SD
- Founding
- 07/1967
- Data as of
- 12/2022
- 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 12/2023, University Of South Dakota Foundation employed 45 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 12/2022, University Of South Dakota Foundation generated $26.3m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $25.3m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (4.0%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, University Of South Dakota Foundation has awarded 53 individual grants totaling $159,204,836. 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
2022
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. $11.1 MILLION AND $10.8 MILLION IN SCHOLARSHIPS WERE AWARDED AS OF DECEMBER 31, 2023 AND 2022, RESPECTIVELY. THIS LEVEL OF FUNDING REPRESENTS AN INCREASE OF 13.1% 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, $111.2 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 2023, $6 MILLION WAS PROVIDED TO SUPPORT THESE NEEDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Doyle Vice Chair/chair Beg. 10/2023 | OfficerTrustee | 0.7 | $0 |
Lance Bultena - Vice Chair Elect/vice Chair Beg. 10/2023 | OfficerTrustee | 0.7 | $0 |
Gary Begeman - Left 102023 Immediate Past Chair | OfficerTrustee | 0.7 | $0 |
Ryan Taylor - Chairimmediate Past Chair Beg. 10/2023 | OfficerTrustee | 0.7 | $0 |
James Clement - Left 102023 Board Of Directors | Trustee | 0.4 | $0 |
Margaret Doyle - Left 102023 Board Of Directors | Trustee | 0.4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ruffalo Noel Levitz Llc Annual Fundraising | 12/30/23 | $203,460 |
Mrj Advisors Llc Consulting | 12/30/23 | $107,297 |
Erickson Solutions Group It Support And Equipment | 12/30/23 | $106,147 |
Pinnacle Productions Inc Video Productions | 12/30/23 | $175,381 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $162,160 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $15,334,465 |
| Noncash contributions included in lines 1a–1f | $329,891 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,496,625 |
| Total Program Service Revenue | $1,147,606 |
| Investment income | $6,262,301 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $18,621 |
| Net Gain/Loss on Asset Sales | $3,454,067 |
| Net Income from Fundraising Events | -$63,469 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $26,328,274 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $18,966,903 |
| 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. | $710,666 |
| Compensation of current officers, directors, key employees. | $664,045 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,292,094 |
| Pension plan accruals and contributions | $119,835 |
| Other employee benefits | $317,187 |
| Payroll taxes | $284,942 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $58,370 |
| Fees for services: Lobbying | $10,730 |
| Fees for services: Fundraising | $179,535 |
| Fees for services: Investment Management | $463,445 |
| Fees for services: Other | $242,150 |
| Advertising and promotion | $507,223 |
| Office expenses | $141,357 |
| Information technology | $272,175 |
| Royalties | $0 |
| Occupancy | $169,739 |
| Travel | $280,622 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $37,314 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $130,884 |
| Insurance | $61,563 |
| All other expenses | $11,350 |
| Total functional expenses | $25,290,294 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $15,630,359 |
| Pledges and grants receivable | $17,912,609 |
| 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 | $274,454 |
| Net Land, buildings, and equipment | $2,206,254 |
| Investments—publicly traded securities | $259,896,669 |
| Investments—other securities | $34,687,438 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,373,707 |
| Total assets | $334,981,490 |
| Accounts payable and accrued expenses | $1,140,438 |
| 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 | $16,914,362 |
| Total liabilities | $18,054,800 |
| Net assets without donor restrictions | -$8,675,577 |
| Net assets with donor restrictions | $325,602,267 |
| 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 | $334,981,490 |
Grants Awarded
Over the last fiscal year, University Of South Dakota Foundation has awarded $24,784,520 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
SOUTH DAKOTA STATE UNIVERSITY PURPOSE: SCHOLARSHIPS | $8,875 |
VERMILLION AREA CHAMBER & DEVELOPMENT COMPANY PURPOSE: PROGRAM SUPPORT | $15,000 |
UNIVERSITY OF SOUTH DAKOTA PURPOSE: $11,092,663 FOR SCHOLARSHIPS, $7,754,711 FOR FACILITIES AND $5,868,615 OTHER DEPARTMENTAL SUPPORT | $24,715,989 |
BLACK HILLS PLAYHOUSE PURPOSE: SCHOLARSHIPS/PROGRAM SUPPORT | $18,142 |
SOUTH DAKOTA STATE MEDICAL ASSOCIATION FOUNDATION PURPOSE: STUDENT SUPPORT | $26,514 |