2025-11-14T17:06:51-07:00 2024-12-31 990 2024-01-01 456013302 FOSSUM FOUNDATION INC FOSS 7012316800 1241 University Dr N Fargo ND 58102 Allyson Peterson Assistant Secretary/Treasurer 7012316820 2025-11-07 1 2024 2025-03-06 01:10:19Z John W Shotwell 1241 University Dr N Fargo ND 58102 104345 0 X X 1959 ND To assist the North Dakota State University Foundation in carrying out its exempt purpose of supporting North Dakota State University. 7 7 0 8 0 0 0 0 0 0 3249 8393 96109 86562 99358 94955 49551 96918 0 0 0 0 0 0 0 1981 2320 51532 99238 47826 -4283 584746 581333 8519 9390 576227 571943 To assist in carrying out the purpose of the North Dakota State University Foundation, a nonprofit corporation, organized and existing for the support of North Dakota State University. 0 0 20000 20000 0 Grants to North Dakota State University Foundation (1241 University Dr N, Fargo, ND 58102-2524), the supported organization, for use in carrying out its exempt purpose of supporting North Dakota State University. $20,000 was contributed to the Fossum Foundation endowment fund held by the NDSU Foundation, which has a restricted purpose of using the annual distribution of income, as set by the Investment Committee of the NDSU Foundation, for merit scholarships at North Dakota State University. 76918 76918 0 Grants to North Dakota State University (1340 Administration Ave, Fargo, ND 58102) for the following: $76,918 was used to support the NDSU undergraduate merit scholarships program. 0 0 0 ........................................................... 0 0 0 96918 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 X 7 7 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 X Allyson Peterson 7012316820 1241 University Dr N Fargo ND 58102 X Allyson Peterson Assistant Secretary/Treasurer 0.50 40 X 0 212337 48221 John Shotwell President 0.02 X 0 0 0 Clyde Fossum Vice President 0.01 0 X 0 0 0 Burdell Fossum Secretary 0.02 0 X 0 0 0 Carl Larson Treasurer 0.01 0 X 0 0 0 Karen Morrison Director 0.03 0 X 0 0 0 Gregg Halverson Director 0.02 0 X 0 0 0 Donn Diederich Director 0.01 0 X 0 0 0 0 212337 48221 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 8393 0 0 8393 0 0 0 0 45281 0 0 45281 50671 0 9390 0 41281 0 41281 0 0 41281 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 94955 0 0 94955 96918 96918 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 51 0 51 0 1000 0 1000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 766 0 766 0 0 0 0 0 0 0 0 0 0 0 0 0 503 0 503 0 0 0 0 0 99238 96918 2320 0 0 0 0 0 0 0 141110 137697 0 0 0 0 0 0 0 0 0 0 464186 20550 443636 443636 0 0 0 0 0 0 0 0 0 0 584746 581333 8519 9390 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 8519 9390 X 576227 571943 0 0 576227 571943 584746 581333 -4283 -1 0 0 0 0 X X 0 1 0 0 X X 1 North Dakota State University Foundation 237120898 5 1 96918 0 1 96918 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 Schedule A, Part I, Line 12g(i) Monetary support includes payments to North Dakota State University Foundation for a contribution to the Fossum Foundation endowment fund, which has a restricted purpose of using the annual distribution of income, as set by the Investment Committee of the NDSU Foundation, for the merit scholarships at North Dakota State University. Monetary support also includes payments to North Dakota State University for grants to scholarships. 2439329 20000 165490 192484 0 0 2432335 2285686 20000 146938 13295 0 0 2439329 2554921 20000 -249735 39500 0 0 2285686 2305224 10000 312367 72670 0 0 2554921 2151167 20000 171156 37099 0 0 2305224 1 0 0 0 1 1 442616 0 442616 13520 0 12500 1020 0 0 0 0 7000 0 7000 0 1050 0 1050 0 443636 0 0 X Schedule D, Part V, Line 4 The endowment funds are held by the North Dakota State University Foundation (related organization). The annual distribution of the endowment is currently being used by NDSU for merit scholarships. Schedule D, Part X, Line 2 The foundation is a publicly supported organization under the Internal Revenue Code Section 501 (c) (3), and is classified as an organization which is not a private foundation. Accordingly, the Foundation is not subject is not subject to federal income taxes. Schedule D, Part XI, Line 5 The Fossum Foundation does not issue separate audited financial statements. Schedule D, Part XII, Line 5 The Fossum Foundation does not issue separate audited financial statements. 1 NDSU Foundation 1241 University Dr N Fargo ND 58102 237120898 501 (c) (3) 20000 0 book scholarship endowment North Dakota State University 1340 Administration Avenue Fargo ND 58102 456002439 Government 76918 0 book scholarships 2 0 Schedule I, Part I, Line 2 All grants to the North Dakota State University Foundation and North Dakota State University are in accordance with the Foundation's stated purpose of assisting in carrying out the purpose of the NDSU Foundation. The Foundation's Board of Directors reviews reports on the issued funds at its annual meeting. The use of the grant funds are monitored throughout the year through the scholarship process of the NDSU Foundation's Donor Compliance Services Department. In addition, the Foundation relies on the University to monitor appropriate use of funds. 0 0 0 0 0 0 0 0 0 Allyson Peterson Assistant Secretary/Treasurer 0 211787 0 0 0 550 0 21860 0 27028 0 261225 0 0 Form 990, Part VI, Section A, Line 2 Burdell Fossum, Clyde Fossum and Karen Morrison have a familial relationship. Form 990, Part VI, Section A, Line 8b There were no meetings of the Executive Committee Form 990, Part VI, Section B, Line 11b Before filing, the completed 990 was reviewed in detail by Allyson Peterson, Assistant Secretary/Treasurer. After filing, a copy of the 990 was delivered via email to the complete board. Form 990, Part VI, Section B, Line 15 Fossum Foundation has no employees. Management services are provided by the NDSU Foundation, the supported organization. Form 990, Part VI, Section C, Line 19 The Foundation's governing documents and financial statements (consolidated with supported organization) are made available upon request. Form 990, Part VII, Section A, Line 1a Allyson Peterson, Assistant Secretary/Treasurer of the Foundation, is the Senior Vice President of Finance and Operations/CFO of the supported organization, NDSU Foundation. Form 990, Part XII, Line 2b The financial data of the Foundation is included in the audit of the consolidated statements of the supported organization, NDSU Foundation. Form 990, Part XII, Line 2c The Finance and Audit Committee of the supported organization, NDSU Foundation, assumes responsibility for oversight to the consolidated financial statements and selection of the independent auditor. North Dakota State University Foundation 1241 University Dr N Fargo ND 58102 237120898 Support NDSU ND 501 (c) (3) 5 N/A 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 North Dakota State University Foundation b 20000 general ledger Schedule R, Part V, Line 2 Gifts, grants, or capital contributions to related organizations includes the following: $20,000 was contributed to the Fossum Foundation endowment fund held by the NDSU Foundation, which has a restricted purpose of using annual distribution of income, as set by the Investment Committee of the NDSU Foundation, for merit scholarships at North Dakota State University. An extension to file Form 990 was made in May of 2025 and granted. This filing is not late.