South Dakota School Of Mines And Technology Foundation
- Assets
- $102.5m
- Revenue
- $14.6m
- Investments
- $13.7m
- Employees
- 18
- Location
- Rapid City, SD
- Founding
- 10/1959
- Data as of
- 06/2020
- EIN
- 46-6011771
Organization Overview
South Dakota School Of Mines And Technology Foundation, operating under the name Sdsm&t Foundation, is located in Rapid City, SD. The organization was established in 1959. As of 06/2020, Sdsm&t Foundation employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 06/2020, Sdsm&t Foundation generated $14.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (39.5%) each year. All expenses for the organization totaled $7.2m during the year ending 06/2020. As we would expect to see with falling revenues, expenses have declined by (47.4%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Sdsm&t Foundation has awarded 19 individual grants totaling $262,248,506. 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
THE SDSM&T FOUNDATION'S MISSION IS TO ASSIST THE SOUTH DAKOTA SCHOOL OF MINES AND TECHNOLOGY UNIVERSITY IN PROVIDING EXCEPTIONAL INTELLECTUAL, PROFESSIONAL, AND PERSONAL DEVELOPMENT OPPORTUNITIES. WE SEEK THE REQUIRED RESOURCES TO ENHANCE THOSE OPPORTUNITIES TO ENRICH AND EMPOWER THE INDIVIDUAL'S ATTAINMENT OF OUTSTANDING EDUCATIONAL EXPERIENCES, PROFESSIONAL ACCOMPLISHMENTS, AND LIFETIME EXPERIENCES TO ADDRESS SOCIETY'S NEEDS THROUGH TECHNOLOGY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SCHOLARSHIPS AND FELLOWSHIPS TO STUDENTS ATTENDING SOUTH DAKOTA SCHOOL OF MINES AND TECHNOLOGY (SDSM&T). SCHOLARSHIP RECIPIENTS ARE SELECTED BY THE SDSM&T SCHOLARSHIP COMMITTEE. PRIZES AND AWARDS ARE GIVEN TO STUDENTS, FACULTY, AND STAFF ACCORDING TO SPECIFIC AWARD CRITERIA.
GENERAL SUPPORT TO SDSM&T, ITS DEPARTMENTS, AND ITS STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joel Kincart President | Officer | 40 | $213,890 |
Bradley Johnson Vp-Pres. Dev | Officer | 40 | $125,274 |
Julie Carver 2nd Vice Cha | OfficerTrustee | 1 | $0 |
Lynn Kading Secretary | OfficerTrustee | 1 | $0 |
Todd Kenner Chair | OfficerTrustee | 1 | $0 |
Stephen O'rouke Member At La | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $6,175 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,814,384 |
| Noncash contributions included in lines 1a–1f | $1,060,610 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,820,559 |
| Total Program Service Revenue | $384,481 |
| Investment income | $1,872,155 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $108,871 |
| Net Gain/Loss on Asset Sales | $1,428,351 |
| Net Income from Fundraising Events | $11,000 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,625,417 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,211,331 |
| 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. | $375,736 |
| Compensation of current officers, directors, key employees. | $143,906 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $638,874 |
| Pension plan accruals and contributions | $48,235 |
| Other employee benefits | $117,280 |
| Payroll taxes | $70,489 |
| Fees for services: Management | $37,208 |
| Fees for services: Legal | $71,394 |
| Fees for services: Accounting | $24,655 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $56,805 |
| Fees for services: Investment Management | $87,978 |
| Fees for services: Other | $0 |
| Advertising and promotion | $108,871 |
| Office expenses | $122,845 |
| Information technology | $17,334 |
| Royalties | $0 |
| Occupancy | $54,094 |
| Travel | $58,681 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $14,022 |
| Interest | $13,228 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $101,555 |
| Insurance | $12,048 |
| All other expenses | $0 |
| Total functional expenses | $7,242,663 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $566,165 |
| Savings and temporary cash investments | $12,264,690 |
| Pledges and grants receivable | $2,984,184 |
| Accounts receivable, net | $285,770 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $296,475 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $100,220 |
| Net Land, buildings, and equipment | $8,719,945 |
| Investments—publicly traded securities | $63,118,960 |
| Investments—other securities | $13,727,483 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $459,718 |
| Total assets | $102,523,610 |
| Accounts payable and accrued expenses | $704,515 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $47,627 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $317,028 |
| Unsecured mortgages and notes payable | $244,100 |
| Other liabilities | $3,228,977 |
| Total liabilities | $4,542,247 |
| Net assets without donor restrictions | $6,484,035 |
| Net assets with donor restrictions | $91,497,328 |
| 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 | $102,523,610 |
Grants Awarded
Over the last fiscal year, South Dakota School Of Mines And Technology Foundation has awarded $5,211,331 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
SDSM&T PURPOSE: SCHOLARSHIPS/FELLOWS | $3,312,853 |
SDSM&T PURPOSE: GENERAL SUPPORT | $1,690,412 |
Rapid City, SD PURPOSE: GENERAL SUPPORT | $143,000 |
Rapid City, SD PURPOSE: GENERAL SUPPORT | $65,066 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that South Dakota School Of Mines And Technology Foundation has recieved totaling $50,952.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $50,952 |
Endowment Analysis
| Beg. Balance | $69,924,860 |
| Earnings | $2,192,471 |
| Net Contributions | $6,731,026 |
| Other Expense | -$265,887 |
| Grants | -$1,388,667 |
| Ending Balance | $77,193,803 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Blackburn University Carlinville, IL | $69,417,787 | $20,572,819 |
St Coletta Of Wisconsin Inc Jefferson, WI | $24,376,393 | $19,715,046 |
Aspira Inc Of Illinois Chicago, IL | $38,781,754 | $20,471,178 |
Carmen High School Of Science And Technology Inc Milwaukee, WI | $20,389,030 | $25,595,281 |
Lionsgate Academy Minnetonka, MN | $10,919,147 | $18,942,630 |
Alpha Kappa Alpha Sorority Inc Chicago, IL | $50,053,085 | $22,865,578 |
Hoyleton Youth And Family Services Fairview Heights, IL | $12,134,993 | $23,440,573 |
University Of Chicago Charter School Corporation Chicago, IL | $11,573,071 | $19,713,793 |
Lycee Francais De Chicago Inc Chicago, IL | $46,369,926 | $22,168,746 |
Turtle Mountain Community College Inc Belcourt, ND | $46,303,389 | $20,250,677 |
Peak To Peak Charter Schools Inc Lafayette, CO | $48,258,920 | $19,765,740 |
Missouri State University Foundation Springfield, MO | $170,270,696 | $43,600,075 |