Form 990 for tax year 2023

Filed by JAMESTOWN COLLEGE FOUNDATION INC.

Totals

Total revenue: $919,805
Total expenses: $1,319,578
Contributions and grants received: $0
Grants paid: $0
Program service revenue: $0
Investment income: $576,385
Other revenue: $343,420
Total assets, end of year: $21,084,825
Total liabilities, end of year: $18,226,077
Net assets or fund balances, end of year: $2,858,748
Program services expenses (Part IX): $727,839
Management and general expenses: $591,739
Fundraising expenses: $0
Program service expenses (Part III): $727,839

Program services were 55.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

3 · Investment income

total $576,385 · excluded $576,385
6a · Gross rents

real property $343,420
6b · Less rental expenses

real property $0
6c · Rental income or loss

real property $343,420
6d · Net rental income or loss

total $343,420 · related or exempt $343,420

Functional expenses

Part IX, the statement of functional expenses.

11c · Fees: accounting

total $2,805 · management and general $2,805
20 · Interest

total $588,934 · management and general $588,934
22 · Depreciation, depletion and amortization

total $727,839 · program services $727,839

Balance sheet

Part X, book values.

2 · Savings and temporary cash investments

beginning of year $317 · end of year $317
7 · Other notes and loans receivable

beginning of year -$7,778 · end of year -$10,582
10a · Land, buildings and equipment: cost or other basis

$31,627,993
10b · Land, buildings and equipment: accumulated depreciation

$10,532,903
10c · Land, buildings and equipment, net

beginning of year $21,822,929 · end of year $21,095,090
25 · Other liabilities

beginning of year $18,556,947 · end of year $18,226,077
27 · Net assets without donor restrictions

beginning of year $3,258,521 · end of year $2,858,748

Mission and programs · 2023

Mission

The Jamestown College Foundation is organized solely as a means of generating financial support for the programs and services of the University of Jamestown.

Activities or mission (Part I)

To provide financial support for the programs and services of the University of Jamestown.

The sole purpose for which the corporation is formed is funding the work of the University of Jamestown.

Expenses $727,839 · Revenue $343,420

As filed on the 2023 return.

Listed in Part VII

Jim Unruh

Chairman (July-Oct)

Total calculated

$0

Hours/week

0.1 + 3 related
Todd Steinwand -1st Vice Chair

(Jul-Oct)/Chairman starting Oct

Total calculated

$0

Hours/week

0.1 + 3 related
Shane Berg - Trustee Jul-Oct

1st Vice Chair starting Oct

Total calculated

$0

Hours/week

0.1 + 2 related
Jo-Ida Hansen - 2nd Vice Chair

(Jul-Oct)/Trustee starting Oct

Total calculated

$0

Hours/week

0.1 + 2 related
Steve Bietz - Trustee Jul-Oct

2nd Vice Chair starting Oct

Total calculated

$0

Hours/week

0.1 + 2 related
Alan Berg

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
William Bernhagen

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
David Evinger

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Kelly Krein

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Alan Lindberg

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Virgil Miedema

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Robert Piatz

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Sandi Piatz

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Jasper Schneider

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Peggy Foss

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Brian Johnson

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Jim Johnson

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Jill Seibold Sisk

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Paul Sukut

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Terry Wanzek

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Mark Wolf

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Jeff Young

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Richard Hall

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
David Haukaas

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Bart Holaday

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Larry Langemo

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Robert McLennan

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
David Muhs

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Kari Newman Ness

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Sheryl Ramstad

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Marybeth Hegstad

Ex Officio Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Polly Peterson

President

Total calculated

$343,666

From this org

$0

From related orgs

$309,376

Other

$34,290

Hours/week

0.1 + 40 related

Schedule J breakdown matched by us

Base

$0 + $309,376 related

Bonus

$0

Other

$0

Deferred

$0 + $15,469 related

Nontaxable benefits

$0 + $18,851 related

Filer's total

$0 + $343,696 related
Kresha Wiest

Chief Financial Officer

Total calculated

$140,545

From this org

$0

From related orgs

$133,852

Other

$6,693

Hours/week

0.1 + 40 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

4a · Severance or change-of-control payment
4b · Supplemental nonqualified retirement plan
4c · Equity-based compensation arrangement
5a · Pay contingent on this organization's revenues
5b · Pay contingent on a related organization's revenues
6a · Pay contingent on this organization's net earnings
6b · Pay contingent on a related organization's net earnings
7 · Other non-fixed payments
8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 3: The Organization does not establish the compensation of the President. Compensation is determined by the related organization, University of Jamestown, and the organization relied on a related organization to establish compensation.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

University of Jamestown

501(c)(3) · Education · ND · controlled entity

Directly controlled by Jamestown College Foundation

Provenance

Return type: form_990
Tax year: 2023
Filed: 14 October 2024
IRS schema version: 2023v5.1
Source object: 202412889349302196

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