Nonprofit · EIN 45-6013302
FOSSUM FOUNDATION INC
Tax-exempt · FARGO, ND 58102
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $94,955 | $99,238 | -$4,283 | $581,333 | $9,390 | $571,943 |
| December 31, 2023 | 990 | $99,358 | $51,532 | $47,826 | $584,746 | $8,519 | $576,227 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $0
- Investment income
- $8,393
- Royalties
- $45,281
- Net rental income
- $41,281
- Other revenue
- $86,562
Expenses
- Grants and similar amounts paid
- $96,918
- Compensation of officers, directors and key employees
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $51
- Accounting fees
- $1,000
- Program services (functional)
- $96,918
- Management and general (functional)
- $2,320
Balance sheet and other
- Total assets, start of year
- $584,746
- Total assets, end of year
- $581,333
- Total liabilities, end of year
- $9,390
- Net assets, end of year
- $571,943
- Land, buildings and equipment
- $443,636
- Net assets without donor restrictions
- $571,943
- Gross receipts
- $104,345
- Employees
- 0
- Volunteers
- 8
- Year formed
- 1959
- State of legal domicile
- ND
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| Allyson Peterson | Assistant Secretary/Treasurer Officer | 0.5 | $0 | $212,337 | $48,221 |
| John Shotwell | President Trustee or director | 0.02 | $0 | $0 | $0 |
| Clyde Fossum | Vice President Trustee or director | 0.01 | $0 | $0 | $0 |
| Burdell Fossum | Secretary Trustee or director | 0.02 | $0 | $0 | $0 |
| Carl Larson | Treasurer Trustee or director | 0.01 | $0 | $0 | $0 |
| Karen Morrison | Director Trustee or director | 0.03 | $0 | $0 | $0 |
| Gregg Halverson | Director Trustee or director | 0.02 | $0 | $0 | $0 |
| Donn Diederich | Director Trustee or director | 0.01 | $0 | $0 | $0 |
990 for the year ended December 31, 2023: 8 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| Allyson Peterson | Assistant Secretary/Treasurer Officer | 0.5 | $0 | $195,096 | $52,112 |
| John Shotwell | President Trustee or director | 0.02 | $0 | $0 | $0 |
| Clyde Fossum | Vice President Trustee or director | 0.01 | $0 | $0 | $0 |
| Burdell Fossum | Secretary Trustee or director | 0.02 | $0 | $0 | $0 |
| Carl Larson | Treasurer Trustee or director | 0.01 | $0 | $0 | $0 |
| Karen Morrison | Director Trustee or director | 0.03 | $0 | $0 | $0 |
| Gregg Halverson | Director Trustee or director | 0.02 | $0 | $0 | $0 |
| Donn Diederich | Director Trustee or director | 0.01 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1241 UNIVERSITY DR N, FARGO, ND 58102-2524
- In care of
- % NDSU DEVELOPMENT FOUNDATION
- Principal officer (990 for 2024)
- John W Shotwell, 1241 University Dr N, Fargo, ND 58102
- Signed the 990
- Allyson Peterson, Assistant Secretary/Treasurer
- Phone
- (701) 231-6800
Mission
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.
Program accomplishments
- 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.Expenses $20,000 · grants $20,000
- 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.Expenses $76,918 · grants $76,918
- ...........................................................0
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 45-6013302
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Suspense
- Donations deductible (Pub 78)
- Charity of unknown status, 50% limit
- Exempt since
- 1963
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $581,333
- Income (IRS master file)
- $104,345
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $94,955 | $99,238 | $581,333 | XML |
| 990 | December 2023 | $99,358 | $51,532 | $584,746 | XML |
| 990 | December 2022 | $110,221 | $67,947 | $536,328 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 45-6013302).
Questions about FOSSUM FOUNDATION INC
- What is the EIN of FOSSUM FOUNDATION INC?
- The employer identification number (EIN) of FOSSUM FOUNDATION INC is 45-6013302.
- Is FOSSUM FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1963.
- Are donations to FOSSUM FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Charity of unknown status, 50% limit).
- Which annual return does FOSSUM FOUNDATION INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of FOSSUM FOUNDATION INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did FOSSUM FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of FOSSUM FOUNDATION INC?
- The 990 for the year ended December 31, 2024 names John W Shotwell.
- Who are the officers and directors of FOSSUM FOUNDATION INC?
- The 990 for the year ended December 31, 2024 lists 8 people; 0 received compensation from the organization.
- How much revenue does FOSSUM FOUNDATION INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $94,955, expenses of $99,238 and total assets of $581,333 at year end.
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