2024-05-14T11:56:46-05:00 2023-06-30 450250958 EIDE BAILLY LLP 345 N REID PL STE 400 SIOUX FALLS SD 571037034 990 2022-07-01 237299995 DAKOTA STATE UNIVERSITY FOUNDATION DAKO 6052565157 820 N WASHINGTON AVE MADISON SD 57042 SAMANTHA ZOSS INTERIM PRESIDENT & CEO 6052565157 2024-05-13 1 SAMANTHA ZOSS 999009999 1 LAURIE HANSON CPA P00851848 6053391999 2024-05-03 0 AAL1 IAL1 2022 2023-04-26 12:10:37Z SAMANTHA ZOSS 820 N WASHINGTON AVE MADISON SD 57042 13001807 0 X WWW.FOUNDATION.DSU.EDU X 1970 SD TO RAISE FUNDS AND MANAGE PRIVATE FUNDING FOR THE BENEFIT OF DAKOTA STATE UNIVERSITY. 21 21 0 25 0 0 2837061 6769569 0 25629 2325303 -1381999 562822 473512 5725186 5886711 1908237 12554692 0 0 0 0 0 0 32242 978778 1144945 2887015 13699637 2838171 -7812926 118045718 96118718 98636082 53069757 19409636 43048961 DAKOTA STATE UNIVERSITY FOUNDATION IS AN INDEPENDENT NON-PROFIT CORPORATION ESTABLISHED FOR THE PURPOSE OF RAISING AND MANAGING PRIVATE FUNDING FOR THE BENEFIT OF DAKOTA STATE UNIVERSITY. 0 0 2535766 2535766 THE FOUNDATION ASSISTS IN MAKING PAYMENTS TO OR ON BEHALF OF DAKOTA STATE UNIVERSITY FOR SCHOLARSHIPS. 10018926 10018926 25629 EXPENDITURES FOR THE GENERAL SUPPORT OF DSU INCLUDING: PAYMENTS TO DSU ALUMNI ASSOCIATION FOR MAILING LIST, PAYMENTS FOR PROJECTS, AWARDS. 12554692 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 14 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 21 21 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 X THE ORGANIZATION 6052565157 820 N WASHINGTON AVE MADISON SD 57042 X X SUZY COLLINGNON-HODGEN CHAIR 1.00 X X 0 0 0 FLOYD RUMMEL IMMEDIATE PAST CHAIR 1.00 X X 0 0 0 TAMMY MILLER VICE CHAIR 1.00 X X 0 0 0 STACY KRUSEMARK TREASURER (UNTIL 09/2022) 1.00 X X 0 0 0 JUDY DITTMAN BOARD MEMBER 1.00 X 0 0 0 DAVID GEIVER BOARD MEMBER 1.00 X 0 0 0 RANDY SCHAEFFER BOARD MEMBER 1.00 X 0 0 0 MILES BEACOM TRUSTEE (UNTIL 12/2022) 1.00 X 0 0 0 BILL BECK TRUSTEE (UNTIL 02/2023) 1.00 X 0 0 0 JEFF BLOOM TRUSTEE 1.00 X 0 0 0 BOB CASAGRANDE TRUSTEE 1.00 X 0 0 0 ROGER DEGROOT TRUSTEE 1.00 X 0 0 0 HALI DIGGS TRUSTEE 1.00 X 0 0 0 KAZZI FOSTER-TEEL TRUSTEE 1.00 X 0 0 0 ROBB GRAHAM TRUSTEE 1.00 X 0 0 0 MICHAEL HALVERSON TRUSTEE 1.00 X 0 0 0 DELON MORK TRUSTEE 1.00 X 0 0 0 ERIN NIELSEN TRUSTEE 1.00 X 0 0 0 RENAE PROSTROLLO TRUSTEE (UNTIL 12/2022) 1.00 X 0 0 0 POOJA PULLMAN TRUSTEE 1.00 X 0 0 0 SCOTT SCHLISNER TRUSTEE 1.00 X 0 0 0 PAUL SCHROEDER TRUSTEE 1.00 X 0 0 0 SUMMER SCHULTZ TRUSTEE 1.00 X 0 0 0 CECELIA WITTMAYER TRUSTEE (UNTIL 12/2022) 1.00 X 0 0 0 MIKE MALONE TRUSTEE 1.00 X 0 0 0 DAVE MILLER TRUSTEE (BEGINNING 01/2023) 1.00 X 0 0 0 MIKE JASPERS TRUSTEE (UNTIL 12/2022) 1.00 X 0 0 0 JOSHUA ROBINSON BOARD MEMBER (UNTIL 7/2022) 1.00 X 0 0 0 JON SCHEMMEL CHIEF EXECUTIVE OFFICER 40.00 X 0 0 0 SAMANTHA ZOSS CHIEF OPERATING OFFICER 40.00 X 0 0 0 0 0 0 0 0 0 0 0 110018 6659551 73059 6769569 25629 25629 25629 1377519 1377519 379890 96185 283705 283705 283705 4108938 6765297 103159 -2656359 -103159 -2759518 -2759518 340262 110018 150455 189807 189807 5886711 25629 0 -908487 12554692 12554692 9642 9642 248007 248007 32240 32240 34419 34419 10059 10059 72609 72609 DISCRETIONARY 245829 245829 FOUNDATION PROJECTS 225538 225538 BAD DEBT 146411 146411 IN-KIND GOODS 73058 73058 47133 14891 32242 13699637 12554692 1112703 32242 19890627 759683 26886015 10143022 745 225 2805592 549477 2289641 2256115 68681344 82398511 0 104582 297346 456580 118045718 96118718 0 149297 26886015 0 672640 601189 71077427 52319271 98636082 53069757 X 2261370 2474529 17148266 40574432 19409636 43048961 118045718 96118718 X -7812926 3347582 28108600 -3931 X 0 1 X 1 0 X 2093704 2011335 12748572 2837061 6768569 26459241 2093704 2011335 12748572 2837061 6768569 26459241 4387874 22071367 1421030 1236326 1078757 2264996 1661224 7662333 34121574 0.64680 0.78580 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 17338888 934022 1574599 716986 19130523 15971554 4193088 -5537319 2520940 12106383 15263638 677698 30218 15971554 14871886 397182 -5430 15263638 14395993 483209 -7316 14871886 0.01000 0.99000 0 0 110430 110430 2664228 518543 2145685 30934 30934 0 2256115 FUNDS INVESTED AND HELD FOR THE UNIVERSITY 52319271 52319271 X 10256800 3347582 903591 -3931 4247242 6009558 9642 -132489 -122847 5886711 14726075 903591 132489 1036080 13689995 9642 9642 13699637 PART V, LINE 4: THE FOUNDATION'S ENDOWMENT CONSISTS OF APPROXIMATELY 387 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. ITS ENDOWMENT INCLUDES BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. PART V, LINE 1A: THE BEGINNING OF YEAR AMOUNT REPORTED IN COLUMN (A) WAS RESTATED TO APPROPRIATELY REFLECT THE JUNE 30, 2021 ENDOWMENT BALANCE. PART X, LINE 2: THE FOUNDATION 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 FOUNDATION WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS AND LIABILITIES IN INCOME TAX EXPENSE, IF SUCH INTEREST AND PENALTIES ARE INCURRED. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN SPLIT-INTEREST AGREEMENTS -3,931. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES -36,304. RENTAL EXPENSES -96,185. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 36,304. RENTAL EXPENSES 96,185. DSUNITE 361948 57118 304830 88195 350 18376 7230 GOLF EVENT 48423 27900 20523 510 13507 841 1956 2 39909 25000 14909 2320 10526 6264 380 450280 110018 340262 91025 24383 25481 7230 2336 150455 189807 1 DAKOTA STATE UNIVERSITY 830 N WASHINGTON MADISON SD 57042 466000364 GOVERNMENTAL 12552442 0 SCHOLARSHIPS TO DAKOTA STATE UNIVERSITY 1 0 PART I, LINE 2: FUNDS ARE DISTRIBUTED ANNUALLY TO STUDENTS FOR SCHOLARSHIPS. SCHOLARSHIPS ARE AWARDED TO STUDENTS THAT MEET THE SCHOLARSHIP CRITERIA DETERMINED BY THE GRANT QUALIFICATIONS. A SCHOLARSHIP COMMITTEE COMPRISED OF UNIVERSITY STAFF IS RESPONSIBLE FOR REVIEWING AND AWARDING SCHOLARSHIPS TO STUDENTS WHO MEET THE GRANT REQUIREMENTS. THAT INFORMATION IS THEN SHARED WITH THE FOUNDATION AND A CHECK IS CUT TO THE UNIVERSITY FOR THE SCHOLARSHIPS AWARDED TO BE APPLIED TO THE STUDENT'S TUITION BILL. X AUCTION ITEMS 261 73059 FAIR MARKET VALUE 0 0 1 0 PART I, COLUMN (B): THE NUMBER REPORTED IN COLUMN B IS THE NUMBER OF ITEMS. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE SHALL BE COMPRISED OF: 1. NO FEWER THAN FIVE (5) VOTING TRUSTEES NOR MORE THAN ELEVEN (11), APPOINTED BY THE CHAIR OF THE BOARD OF TRUSTEES, AND MUST INCLUDE THE CHAIR, VICE CHAIR, AND IMMEDIATE PAST CHAIR OF THE BOARD OF TRUSTEES; AND 2. EX OFFICIO TRUSTEES AS FOLLOWS, DAKOTA STATE UNIVERSITY PRESIDENT, FOUNDATION CHIEF EXECUTIVE OFFICER, AND FOUNDATION CHIEF OPERATING OFFICER. THE EXECUTIVE COMMITTEE SHALL HAVE AND MAY EXERCISE, DURING THE INTERVAL BETWEEN MEETINGS OF THE BOARD OF TRUSTEES, ALL OF THE POWERS VESTED IN THE BOARD OF TRUSTEES WITH THESE EXCEPTIONS: FILL VACANCIES ON THE BOARD OF TRUSTEES, AND THE POWER TO CHANGE THE ARTICLES OF INCORPORATION OR BYLAWS. FORM 990, PART VI, SECTION A, LINE 4 THE FOUNDATION AMENDED ITS BYLAWS DURING THE FISCAL YEAR. THE CHANGES INCLUDE REDUCING THE SIZE RANGE OF THE BOARD FROM 30-50 DOWN TO 20-30, REDUCING TRUSTEE TERMS FROM 3 YEARS TO 2 YEARS, AND ADDING TRUSTEE REMOVAL POLICIES AND DIGITAL CORRESPONDENCE. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION PROVIDES A COPY OF ITS FORM 990 TO THE AUDIT COMMITTEE AND VOTING BOARD MEMBERS BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C THE FOUNDATION HAS FORMAL POLICIES AND PROCEDURES IN PLACE FOR ANNUALLY DOCUMENTING POTENTIAL CONFLICTS OF INTEREST AMONG ITS GOVERNING BODY. AT THE BEGINNING OF EACH FISCAL YEAR, THE ORGANIZATION'S CONFLICT OF INTEREST POLICY AND CODE OF ETHICS ARE SENT TO ALL NEW AND RETURNING DIRECTORS. ALL DIRECTORS ARE ASKED TO ACKNOWLEDGE AND TO AGREE TO ABIDE BY THESE POLICIES AND DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST PERTAINING TO FOUNDATION BUSINESS. ALL DIRECTORS MUST REVIEW POTENTIAL CONFLICTS AND DISCLOSE IF ANY ARISE. BOARD OF TRUSTEE MEMBERS AND FOUNDATION STAFF MEMBERS ARE COVERED BY THE CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND IRS FORM 990 ARE MADE AVAILABLE TO THE PUBLIC ON REQUEST. ADDITIONALLY, ANNUAL AUDITED FINANCIAL STATEMENTS AND INFORMATION REGARDING ENDOWMENT HOLDINGS ARE AVAILABLE TO THE PUBLIC ON REQUEST. FORM 990, PART VII THE CEO AND COO OF THE FOUNDATION ARE PAID BY DAKOTA STATE UNIVERSITY, AN UNRELATED PARTY. FORM 990, PART XI, LINE 9: CHANGE IN SPLIT INTEREST -3,931.