Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $162,160

• 1f · All other contributions, gifts and grants

  $15,334,465

• 1g · Noncash contributions included above

  $329,891

• 2a · Program service revenue: ADMINISTRATIVE FEES

  total $1,147,606 · related or exempt $1,147,606

• 3 · Investment income

  total $6,262,301 · excluded $6,262,301

• 6a · Gross rents

  real property $82,005 · personal property $64,000

• 6b · Less rental expenses

  real property $73,721 · personal property $53,663

• 6c · Rental income or loss

  real property $8,284 · personal property $10,337

• 6d · Net rental income or loss

  total $18,621 · related or exempt $10,337 · excluded $8,284

• 7a · Gross sales of assets other than inventory

  securities $55,261,006

• 7b · Less cost or other basis and sales expenses

  securities $51,806,939

• 7c · Gain or loss

  securities $3,454,067

• 7d · Net gain or loss

  total $3,454,067 · excluded $3,454,067

• 8a · Fundraising events: gross income

  $118,994

• 8a · Fundraising events: contributions included on line 1c

  $162,160

• 8b · Fundraising events: direct expenses

  $182,463

• 8c · Net income from fundraising events

  total -$63,469 · excluded -$63,469

• 11a · Other revenue: BLACKSTONE INVESTMENTS

  total $7,640 · unrelated business $7,640

• 11b · Other revenue: STATE TAX REFUNDS

  total $4,883 · unrelated business $4,883

• 11e · Other revenue, total

  $12,523

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $18,966,903 · program services $18,966,903

• 5 · Compensation of officers, directors and key employees

  total $710,666 · management and general $664,045 · fundraising $46,621

• 7 · Other salaries and wages

  total $2,292,094 · management and general $233,944 · fundraising $2,058,150

• 8 · Pension plan contributions

  total $119,835 · management and general $35,446 · fundraising $84,389

• 9 · Other employee benefits

  total $317,187 · management and general $110,936 · fundraising $206,251

• 10 · Payroll taxes

  total $284,942 · management and general $108,278 · fundraising $176,664

• 11c · Fees: accounting

  total $58,370 · management and general $58,370

• 11d · Fees: lobbying

  total $10,730 · management and general $10,730

• 11e · Fees: professional fundraising services

  total $179,535 · fundraising $179,535

• 11f · Fees: investment management

  total $463,445 · management and general $463,445

• 11g · Fees: other

  total $242,150 · management and general $242,150

• 12 · Advertising and promotion

  total $507,223 · management and general $299,439 · fundraising $207,784

• 13 · Office expenses

  total $141,357 · management and general $63,854 · fundraising $77,503

• 14 · Information technology

  total $272,175 · management and general $190,892 · fundraising $81,283

• 16 · Occupancy

  total $169,739 · management and general $75,756 · fundraising $93,983

• 17 · Travel

  total $280,622 · management and general $39,068 · fundraising $241,554

• 19 · Conferences, conventions and meetings

  total $37,314 · management and general $34,574 · fundraising $2,740

• 22 · Depreciation, depletion and amortization

  total $130,884 · management and general $64,715 · fundraising $66,169

• 23 · Insurance

  total $61,563 · management and general $43,762 · fundraising $17,801

• 24a · Other expenses: RECRUITMENT & RETENTION

  total $35,625 · management and general $33,412 · fundraising $2,213

• 24b · Other expenses: UBI TAX

  total -$3,415 · management and general -$3,415

• 24e · All other expenses

  total $11,350 · management and general $11,350

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $14,876,778 · end of year $15,630,359

• 3 · Pledges and grants receivable

  beginning of year $18,464,309 · end of year $17,912,609

• 7 · Other notes and loans receivable

  beginning of year $2,000,000 · end of year $2,000,000

• 9 · Prepaid expenses and deferred charges

  beginning of year $140,948 · end of year $274,454

• 10a · Land, buildings and equipment: cost or other basis

  $3,478,090

• 10b · Land, buildings and equipment: accumulated depreciation

  $1,271,836

• 10c · Land, buildings and equipment, net

  beginning of year $2,337,138 · end of year $2,206,254

• 11 · Investments: publicly traded securities

  beginning of year $291,971,985 · end of year $259,896,669

• 12 · Investments: other securities

  beginning of year $44,222,215 · end of year $34,687,438

• 15 · Other assets

  beginning of year $1,450,889 · end of year $2,373,707

• 17 · Accounts payable and accrued expenses

  beginning of year $908,493 · end of year $1,140,438

• 25 · Other liabilities

  beginning of year $19,946,375 · end of year $16,914,362

• 27 · Net assets without donor restrictions

  beginning of year -$6,640,690 · end of year -$8,675,577

• 28 · Net assets with donor restrictions

  beginning of year $361,250,084 · end of year $325,602,267

The filer's explanations (Part III)

PART I, LINE 1A

AS PART OF THE COMPENSATION PACKAGE REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE, THE PRESIDENT & CEO IS PROVIDED A MONTHLY ALLOWANCE FOR THE BUSINESS USE OF PERSONAL VEHICLE. AS PART OF THE COMPENSATION PACKAGE REVIEWED AND APPROVED BY THE CEO, THE CHIEF FINANCIAL OFFICER, THE CHIEF GOVERNANCE OFFICER & LEGAL COUNSEL, AND THE EXECUTIVE DIRECTOR OF PHILANTHROPY ARE PROVIDED A MONTHLY ALLOWANCE FOR BUSINESS USE OF PERSONAL VEHICLES. THESE BENEFITS ARE CONSIDERED TAXABLE BENEFITS AND INCLUDED IN TAXABLE INCOME.

PART I, LINE 4A

SEVERANCE PAYMENT FOR TERMINATION OF EMPLOYMENT: CHRISTINE TJELMELAND $47,579.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• USDF LLC

  HOLD AND MANAGE REAL ESTATE FOR FOUNDATION · SD · income $3,533 · assets $1,411,575

  Directly controlled by UNIVERSITY OF SOUTH DAKOTA FOUNDATION

• USDF2 LLC

  HOLD AND MANAGE AIRPLANE FOR FOUNDATION · SD · income -$10,337 · assets $671,760

  Directly controlled by UNIVERSITY OF SOUTH DAKOTA FOUNDATION

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• CHARITABLE REMAINDER TRUSTS (12)

  T · CRT · SD · controlled entity

• CHARITABLE LEAD TRUSTS (3)

  T · CRT · SD · controlled entity