2024-10-24T15:44:22-05:00 2024-06-30 472119490 LUDVIGSON BRAUN AND CO PO BOX 845 VALLEY CITY ND 580720845 990 2023-07-01 237178785 VALLEY CITY STATE UNIVERSITY FOUNDATION VALL 7018457203 101 COLLEGE STREET VALLEY CITY ND 580724024 Cory Anderson Executive Director 7018457203 2024-10-21 1 1 Daniel Kriefall CPA CMA P02067699 7018451457 2024-10-21 2023 2024-10-15 13:58:12Z Cory Anderson 101 College Street Valley City ND 58072 10572711 0 X http://alumni.vcsu.edu/ X FOUNDATION 1972 ND To aid advancement by awarding scholarships and promoting Valley City State University. 20 19 0 20 0 0 1408095 8867239 0 0 690013 617855 231128 157025 2329236 9642119 1972715 2113180 0 0 305627 336356 45000 55000 1008138 479388 1055713 2802730 3560249 -473494 6081870 19726854 27499825 153451 68897 19573403 27430928 X Valley City State University Foundation aids in the advancement of Valley City State University by awarding scholarships and by promoting the University. Support comes primarily from contributions by individuals and businesses, fundraising events, and investment income. 0 0 1973768 1973768 Scholarships were awarded to students attending Valley City State University 124412 124412 Contributions were given to Valley City State University to fund activities and certain athletics 15000 15000 Membership in Valley City State University's Century Club (athletics) and local charitable donations Membership in Valley City State University's Century Club (athletics) and local charitable donations 2113180 1 1 0 0 0 0 0 0 1 1 1 0 0 0 1 1 1 1 0 0 0 0 0 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 1 1 0 0 0 0 X 20 19 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X Cory Anderson 7018457203 101 College Street Valley City ND 580724024 Dee Jensen Director 2.00 X 0 0 0 DuWayne Bott Director 2.00 X 0 0 0 George Gaukler Director 2.00 X 0 0 0 Matt Klabo Director 2.00 X 0 0 0 Dave Bass Secretary 10.00 X X 0 0 0 Matt Pedersen Vice Chairman 10.00 X X 0 0 0 Al LaFave Non-Voting Director 2.00 X 0 0 0 Karsten Melgaard Director 2.00 X 0 0 0 Phil Mueller Director 2.00 X 0 0 0 Bob Bergan Director 2.00 X 0 0 0 Mark Finstad Director 2.00 X 0 0 0 Ken Astrup Director 2.00 X 0 0 0 Jeff Nathan President 10.00 X X 0 0 0 Kirsten Baesler Director 2.00 X 0 0 0 Liz Ryerson Treasurer 10.00 X X 0 0 0 Larry Robinson Director 40.00 X 131545 0 18645 Dr Genevieve Goven Director 2.00 X 0 0 0 Mark Richman Director 2.00 X 0 0 0 Robert Horne Director 2.00 X 0 0 0 Josh Kasowski Director 2.00 X 0 0 0 Cory Anderson Non-Voting Director 40.00 X 102548 0 18645 Paul Sandness Director 2.00 X 0 0 0 Ryan Leroux Director 2.00 X 0 0 0 Erica Buchholz Non-Voting Director 2.00 X 0 0 0 234093 0 37290 2 0 0 1 0 236949 336356 267624 8026310 413195 8867239 541223 541223 10613 10613 962183 885551 76632 76632 76632 191453 45041 146412 146412 9642119 0 0 774880 2113180 2113180 336356 184996 151360 178962 178962 50375 50375 55000 55000 19021 7666 11355 21371 10294 11077 6285 6285 6086 6086 63717 36079 27638 395 395 6200 6200 Bad Debts 500990 500990 Printing and Publicatio 98039 77392 20647 Capital Campaign 25061 25061 Postage and Freight 24046 19834 4212 55165 39614 15551 3560249 2113180 438931 1008138 27000 37443 1151421 1809396 3544088 9308150 23230 16064 55082 37557 396 17525 14973419 16303947 7300 7300 19726854 27499825 17525 153451 51372 153451 68897 X 448767 -69314 19124636 27500242 19573403 27430928 19726854 27499825 6081870 1775655 0 X 0 1 X 1 0 X 1077262 3123606 5481669 1382458 8867239 19932234 1077262 3123606 5481669 1382458 8867239 19932234 1246877 18685357 887328 1038562 1922006 703684 551836 5103416 20182 159628 196691 234248 146412 757161 25792811 0.72440 0.52310 X Schedule A, Part II, Line 10, Explanation of Other Income: Special events and gaming - 2019 Amount: $ 20,182. 2020 Amount: $ 159,628. 2021 Amount: $ 196,691. 2022 Amount: $ 234,248. 2023 Amount: $ 146,412. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1128997 169195 26754 1271438 0 19124636 8430771 2041504 1463159 702824 27430928 18118231 1088073 1760126 1467998 373796 19124636 18496225 4049562 -2863697 1177387 386472 18118231 13597222 2446165 4064341 1212818 398685 18496225 14613451 454106 771355 1125432 813863 302395 13597222 0 0 37557 37557 0 17525 17525 17525 DUE TO AFFILIATE 51372 51372 X 11409426 1775655 1775655 9633771 8348 8348 9642119 3551901 0 3551901 8348 8348 3560249 Part IV, Line 1b: Valley City State University Foundation is custodian for funds belonging to Valley City State University and invests these funds for the purpose of generating income to fund scholarships. Part V, Line 4: Advancement of Valley City State University by awarding scholarships and by promoting the University. Part X, Line 2: The entity believes that it has appropriate support for any tax positions taken affecting its annual filing requirements, and as such, does not have any uncertain tax positions that are material to the financial statements. The entity would recognize future acrued interest and penalties related to unrecognized tax benefits and liabilities in income tax expense if such interest and penalties are incurred. Part XI, Line 4b - Other Adjustments: Income netted with direct expenses included in Part VIII 6,285. Royalties expenses (netted on audited financial statements) Event expenses (netted with revenue in audited financial statements) 2,063. Part XII, Line 4b - Other Adjustments: Income netted with direct expenses included in Part VIII 6,285. Royalties expenses (netted on audited financial statements) Event expenses (netted with revenue in audited financial statements) 2,063. X X X X X X 0 PACE Fundraising 3337 4th St E 4 West Fargo ND 58078 Capital Campaign 0 6923119 55000 6868119 6923119 55000 6868119 Auction 148532 148532 15564 20932 Golf and Bingo 21091 21091 1022 1633 1 21830 21830 5625 265 191453 191453 5625 16851 22565 45041 146412 ND 1 0 1 0 1.00000 Kim Hesch VCSU Foundation 101 College Street Valley City ND 58072 0 1 1 Valley City State University 101 College Street Valley City ND 58072 456002482 170(b)(1)(A)(iv) 2032826 80354 FMV Donated books, tools, etc. The Foundation provides funds to Valley City State University for student scholarships, equipment, facility improvements, and activities. X 1 1 0 0 0 0 0 0 0 1 0 Part I, Line 1a Valley City State University Foundation established a $10,000 budget for the fiscal year ending June 30, 2023 available to the President of Valley City State University to use for meals, meetings, social events and small projects on campus. $1,099 of the $10,000 budget was utilized for the fiscal year ending June 30, 2024. Part I, Line 7 Ludvigson Braun & Co. provides tax, accounting and finance services to the Valley City State University Foundation. Ludvigson Braun & Co. is owned 75% by Matthew Pedersen, the Vice-Chairman of the Foundation. For the fiscal year ending June 30, 2024, Ludvigson Braun & Co. received $28,325 for services rendered. X Salaries and benefits 1 0 Actual payroll X Auction, raffle and misc items 252 0 Cost and revenue rcv 0 0 0 Form 990, Part VI, Section B, line 11b A copy of the Form 990 is available for the Board of Directors for review before it is filed with the IRS. Form 990, Part VI, Section B, line 12c Directors and officers annually disclose conflict of interests at the Board of Directors annual meeting. Form 990, Part VI, Section B, line 15 The Executive Director's compensation and responsibilities are reviewed and approved by the President of the University. Key employees' compensation and responsibilities are reviewed and approved by the Executive Director. Form 990, Part VI, Section C, line 19 Form 990, Conflict of Interest Policy, audited financial statements and governing documents are made available to the public upon written request. Valley City State University 101 College Street Valley City ND 580724024 456002482 Public university ND 170(b)(1)(A)(iv) N/A 0 0 1 1 0 0 0 0 0 0 0 0 1 0 1 1 1 0 0 1