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Nonprofiteer
← FOSSUM FOUNDATION INC

Form 990 for tax year 2023

Filed by FOSSUM FOUNDATION INC.

Totals

Total revenue
$99,358
Total expenses
$51,532
Contributions and grants received
$0
Grants paid
$49,551
Program service revenue
$0
Investment income
$3,249
Other revenue
$96,109
Total assets, end of year
$584,746
Total liabilities, end of year
$8,519
Net assets or fund balances, end of year
$576,227
Program services expenses (Part IX)
$49,551
Management and general expenses
$1,981
Fundraising expenses
$0
Program service expenses (Part III)
$49,551

Program services were 96.2% 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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $0

  • 1g · Noncash contributions included above

    $0

  • 3 · Investment income

    total $3,249 · related or exempt $0 · unrelated business $0 · excluded $3,249

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $55,755 · related or exempt $0 · unrelated business $0 · excluded $55,755

  • 6a · Gross rents

    real property $48,873 · personal property $0

  • 6b · Less rental expenses

    real property $8,519 · personal property $0

  • 6c · Rental income or loss

    real property $40,354 · personal property $0

  • 6d · Net rental income or loss

    total $40,354 · related or exempt $0 · unrelated business $0 · excluded $40,354

  • 7c · Gain or loss

    securities $0 · other assets $0

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

    $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $49,551 · program services $49,551

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11a · Fees: management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $51 · program services $0 · management and general $51 · fundraising $0

  • 11c · Fees: accounting

    total $1,000 · program services $0 · management and general $1,000 · fundraising $0

  • 11d · Fees: lobbying

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 14 · Information technology

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 15 · Royalties

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 17 · Travel

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $624 · program services $0 · management and general $624 · fundraising $0

  • 20 · Interest

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 21 · Payments to affiliates

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $306 · program services $0 · management and general $306 · fundraising $0

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $92,692 · end of year $141,110

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

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

    $464,186

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

    $20,550

  • 10c · Land, buildings and equipment, net

    beginning of year $443,636 · end of year $443,636

  • 11 · Investments: publicly traded securities

    beginning of year $0

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 14 · Intangible assets

    beginning of year $0

  • 15 · Other assets

    beginning of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,928 · end of year $8,519

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $528,400 · end of year $576,227

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2023

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.

Activities or mission (Part I)

To assist the North Dakota State University Foundation in carrying out its exempt purpose of supporting North Dakota State University.

  • Withheld by Nonprofiteer: this text may name a private individual.

    Expenses $20,000 · Grants $20,000

  • Grants to North Dakota State University (1340 Administration Ave, Fargo, ND 58102) for the following: $29,551 was used to support the NDSU undergraduate merit scholarships program.

    Expenses $29,551 · Grants $29,551

  • ...........................................................

As filed on the 2023 return. A text marked withheld matched a screen for wording that may name a private individual, such as an honorific or "in memory of". Most of what it withholds names no one; it is withheld so that what does is never shown.

Listed in Part VII

  • Allyson Peterson

    Assistant Secretary/Treasurer

    Total calculated
    $247,208
    From this org
    $0
    From related orgs
    $195,096
    Other
    $52,112
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $194,721 related
    Bonus
    $0
    Other
    $0 + $375 related
    Deferred
    $0 + $20,740 related
    Nontaxable benefits
    $0 + $32,039 related
    Filer's total
    $0 + $247,875 related

  • John Shotwell

    President

    Total calculated
    $0
    Hours/week
    0.02

  • Clyde Fossum

    Vice President

    Total calculated
    $0
    Hours/week
    0.01

  • Burdell Fossum

    Secretary

    Total calculated
    $0
    Hours/week
    0.02

  • Carl Larson

    Treasurer

    Total calculated
    $0
    Hours/week
    0.01

  • Karen Morrison

    Director

    Total calculated
    $0
    Hours/week
    0.03

  • Gregg Halverson

    Director

    Total calculated
    $0
    Hours/week
    0.02

  • Donn Diederich

    Director

    Total calculated
    $0
    Hours/week
    0.01

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

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

  • North Dakota State University

    $29,551

    Scholarships

  • NDSU Foundation

    $20,000

    Scholarship endowment

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.

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.0
Source object
202433189349309848

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