Northern State University Foundation
- Assets
- $85.0m
- Revenue
- $23.6m
- Investments
- $26.2m
- Employees
- 17
- Location
- Aberdeen, SD
- Founding
- 02/1969
- Data as of
- 06/2020
- 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 06/2022, Northern State University Foundation employed 17 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 06/2020, Northern State University Foundation generated $23.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 28.9% each year . All expenses for the organization totaled $24.7m during the year ending 06/2020. While expenses have increased by 10.6% 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, Northern State University Foundation has awarded 72 individual grants totaling $190,681,115. 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
TO SOLICIT, ADMINISTER FUNDS & PURSUE OTHER ACTIVITIES DEDICATED TO SECURING THE FUTURE OF NSU.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NSU FOUNDATION PAID 642 ATHLETIC, 776 ACADEMIC, AND 452 DEPARTMENTAL SCHOLARSHIPS TO STUDENTS ATTENDING NORTHERN STATE UNIVERSITY.
NSU FOUNDATION PROVIDED FUNDS TO SUPPORT NORTHERN STATE UNIVERSITY SPECIAL PROJECTS, INCLUDING COMMUNICATIONS & ALUMNI EVENTS OF 63,372, DEPARTMENTAL SUPPORT OF 1,260,885, OPERATIONAL SUPPORT OF 64,589 AND BUILDING ADDITIONS & RENOVATIONS OF 4,569,358.
NSU FOUNDATION PROVIDED SUPPORT OF VARIOUS NORTHERN STATE UNIVERSITY ATHLETIC ACTIVITIES, INCLUDING RECRUITMENT AND OPERATING SUPPORT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Zach Flakus President/ceo/non-Voting Director | OfficerTrustee | 40 | $91,293 |
Cathy Hall CFO (left July 2021) | Officer | 40 | $58,386 |
Dr Neal Schnoor Non-Voting Director | Trustee | 2 | $2,590 |
Greg Wieker Secretary | OfficerTrustee | 2 | $0 |
Chad Bergan Past-Chair | OfficerTrustee | 2 | $0 |
Michael Bockorny Chair | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $22,254,062 |
| Investment income | $497,738 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $125,178 |
| Net Gain/Loss on Asset Sales | $477,648 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $17,915 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $23,577,331 |
| 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. | $391,845 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $362,441 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $21,163 |
| Fees for services: Accounting | $54,837 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $80,551 |
| Fees for services: Other | $6,832 |
| Advertising and promotion | $4,046 |
| Office expenses | $22,038 |
| Information technology | $42,774 |
| Royalties | $0 |
| Occupancy | $17,865 |
| Travel | $8,909 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,887 |
| Interest | $340,310 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,920 |
| Insurance | $9,010 |
| All other expenses | $0 |
| Total functional expenses | $24,671,520 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $7,098,846 |
| Pledges and grants receivable | $32,773,270 |
| 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 | $66,736 |
| Prepaid expenses and deferred charges | $15,962 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $26,155,654 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $16,652,850 |
| Total assets | $84,974,607 |
| Accounts payable and accrued expenses | $822,331 |
| Grants payable | $0 |
| Deferred revenue | $134,233 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $13,315 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $120,900 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $9,171,872 |
| Total liabilities | $10,262,651 |
| 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 | $74,711,956 |
Grants Awarded
Over the last fiscal year, Northern State University Foundation has awarded $9,660,068 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
NORTHERN STATE UNIVERSITY PURPOSE: Capital Projects | $4,569,358 |
NORTHERN STATE UNIVERSITY PURPOSE: Scholarships | $3,091,027 |
NORTHERN STATE UNIVERSITY PURPOSE: Special Projects | $1,260,885 |
NORTHERN STATE UNIVERSITY PURPOSE: Athletic Support | $674,209 |
NORTHERN STATE UNIVERSITY PURPOSE: Operational Support | $64,589 |
Grants Recieved
Over the last fiscal year, we have identified 17 grants that Northern State University Foundation has recieved totaling $1,003,161.
| Awarding Organization | Amount |
|---|---|
Millicent Merle Atkins Charitable Tr Aberdeen, SD PURPOSE: Kindergarten and elementary school education programs at Northern State University | $444,608 |
South Dakota Community Foundation Pierre, SD PURPOSE: Education | $323,093 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $98,865 |
Hatterscheidt Foundation Inc Aberdeen, SD PURPOSE: SCHOLARSHIPS | $51,000 |
Christian Community Foundation Inc Colorado Springs, CO PURPOSE: EDUCATIONAL SUPPORT | $21,000 |
Charities Aid Foundation America Alexandria, VA PURPOSE: CHARITABLE DONATION | $20,451 |
Endowment Analysis
| Beg. Balance | $37,554,641 |
| Earnings | -$2,065,270 |
| Net Contributions | $2,874,017 |
| Grants | $2,091,715 |
| Ending Balance | $36,271,673 |
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 |