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Nonprofiteer
← SIOUX FALLS AREA COMMUNITY FOUNDATION INC

Form 990 for tax year 2024

Filed by SIOUX FALLS AREA COMMUNITY FOUNDATION INC.

Totals

Total revenue
$50,631,506
Total expenses
$41,427,307
Contributions and grants received
$33,119,743
Grants paid
$38,909,054
Program service revenue
$0
Investment income
$17,536,015
Other revenue
-$24,252
Total assets, end of year
$390,919,507
Total liabilities, end of year
$48,676,199
Net assets or fund balances, end of year
$342,243,308
Program services expenses (Part IX)
$40,157,307
Management and general expenses
$397,345
Fundraising expenses
$872,655
Program service expenses (Part III)
$40,157,307

Program services were 96.9% 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.

  • 1c · Fundraising events

    $152,500

  • 1f · All other contributions, gifts and grants

    $32,967,243

  • 1g · Noncash contributions included above

    $11,674,461

  • 3 · Investment income

    total $10,391,004 · excluded $10,391,004

  • 7a · Gross sales of assets other than inventory

    securities $54,825,646

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

    securities $47,680,635

  • 7c · Gain or loss

    securities $7,145,011

  • 7d · Net gain or loss

    total $7,145,011 · excluded $7,145,011

  • 8a · Fundraising events: gross income

    $14,700

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

    $152,500

  • 8b · Fundraising events: direct expenses

    $38,952

  • 8c · Net income from fundraising events

    total -$24,252 · excluded -$24,252

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $38,417,554 · program services $38,417,554

  • 2 · Grants to domestic individuals

    total $491,500 · program services $491,500

  • 5 · Compensation of officers, directors and key employees

    total $627,274 · program services $250,910 · management and general $125,454 · fundraising $250,910

  • 7 · Other salaries and wages

    total $608,837 · program services $243,535 · management and general $121,767 · fundraising $243,535

  • 8 · Pension plan contributions

    total $39,353 · program services $15,741 · management and general $7,871 · fundraising $15,741

  • 9 · Other employee benefits

    total $41,210 · program services $16,484 · management and general $8,242 · fundraising $16,484

  • 10 · Payroll taxes

    total $84,818 · program services $33,927 · management and general $16,964 · fundraising $33,927

  • 11b · Fees: legal

    total $8,909 · program services $1,638 · management and general $2,013 · fundraising $5,258

  • 11c · Fees: accounting

    total $37,467 · program services $12,739 · management and general $12,364 · fundraising $12,364

  • 12 · Advertising and promotion

    total $113,872 · program services $11,387 · fundraising $102,485

  • 13 · Office expenses

    total $160,471 · program services $64,189 · management and general $31,583 · fundraising $64,699

  • 14 · Information technology

    total $75,358 · program services $30,143 · management and general $15,072 · fundraising $30,143

  • 16 · Occupancy

    total $42,696 · program services $17,078 · management and general $8,540 · fundraising $17,078

  • 17 · Travel

    total $9,486 · program services $3,794 · management and general $1,898 · fundraising $3,794

  • 19 · Conferences, conventions and meetings

    total $30,345 · program services $12,138 · management and general $6,069 · fundraising $12,138

  • 22 · Depreciation, depletion and amortization

    total $113,201 · program services $45,280 · management and general $22,641 · fundraising $45,280

  • 23 · Insurance

    total $19,434 · program services $7,774 · management and general $3,886 · fundraising $7,774

  • 24a · Other expenses: DIRECT FUND EXPENSES

    total $298,072 · program services $298,072

  • 24b · Other expenses: LIFE INSURANCE PREMIUMS

    total $169,671 · program services $169,671

  • 24c · Other expenses: ORGANIZATIONAL DUES

    total $19,234 · program services $1,924 · management and general $8,655 · fundraising $8,655

  • 24d · Other expenses: COMMUNOTY INVESTMENT

    total $7,352 · program services $7,352

  • 24e · All other expenses

    total $11,193 · program services $4,477 · management and general $4,326 · fundraising $2,390

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $77,705,802 · end of year $70,840,704

  • 3 · Pledges and grants receivable

    beginning of year $45,056,774 · end of year $45,455,005

  • 9 · Prepaid expenses and deferred charges

    beginning of year $236,162 · end of year $23,640

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

    $4,159,155

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

    $639,859

  • 10c · Land, buildings and equipment, net

    beginning of year $1,498,873 · end of year $3,519,296

  • 11 · Investments: publicly traded securities

    beginning of year $231,698,208 · end of year $265,264,534

  • 12 · Investments: other securities

    beginning of year $14,918 · end of year $15,114

  • 15 · Other assets

    beginning of year $8,290,856 · end of year $5,801,214

  • 17 · Accounts payable and accrued expenses

    beginning of year $241,114 · end of year $200,346

  • 18 · Grants payable

    beginning of year $30,000 · end of year $92,914

  • 25 · Other liabilities

    beginning of year $44,960,612 · end of year $48,382,939

  • 27 · Net assets without donor restrictions

    beginning of year $264,336,628 · end of year $285,032,458

  • 28 · Net assets with donor restrictions

    beginning of year $54,933,239 · end of year $57,210,850

Mission and programs · 2024

Mission

IN PARTNERSHIP WITH DONORS, SIOUX FALLS AREA COMMUNITY FOUNDATION (SFACF) PROVIDES PHILANTHROPIC LEADERSHIP THAT ASSURES THE QUALITY OF LIFE IN OUR AREA, FOR GOOD, FOR EVER.THE COMMUNITY FOUNDATION CULTIVATES PHILANTHROPY BY INSPIRING NEW GENERATIONS OF DONORS TO NURTURE SIOUX FALLS' POSITION AS A NATIONALLY RECOGNIZED CHARITABLE FRONTRUNNER.TO THAT END, SFACF MANAGES AND GROWS ENDOWMENTS AND DIRECTS CHARITABLE GRANTS TO SOCIAL, CULTURAL, EDUCATIONAL, RELIGIOUS, COMMUNITY DEVELOPMENT, AND ENVIRONMENTAL ACTIVITIES THAT ADDRESS THE AREA'S EMERGING NEEDS AND OPPORTUNITIES. THIS EMPHASIS ON GROWING LONG-TERM CHARITABLE ENDOWMENTS ASSURES THAT THE STABILITY AND QUALITY OF LIFE WE ENJOY TODAY WILL BE SUSTAINED FOR GENERATIONS TO COME, IN GOOD TIMES OR BAD.SFACF SERVES MINNEHAHA, LINCOLN, MCCOOK, AND TURNER COUNTIES AND COMMUNITIES WITHIN A 25-MILE RADIUS OF THE CITY OF SIOUX FALLS, SOUTH DAKOTA.

Activities or mission (Part I)

THE SIOUX FALLS AREA COMMUNITY FOUNDATION (SFACF) PROVIDES TRUSTED LEADERSHIP THAT INSPIRES PHILANTHROPY.

  • SIOUX FALLS AREA COMMUNITY FOUNDATION IS A PUBLICLY SUPPORTED COMMUNITY FOUNDATION THAT ATTRACTS, MANAGES, AND DISTRIBUTES CHARITABLE CAPITAL. ITS PRIMARY SERVICE AREA IS THE SIOUX FALLS MSA, A FOUR-COUNTY AREA WITH A POPULATION OF APPROXIMATELY 275,000, AND OTHER COMMUNITIES WITHIN A 25-MILE RADIUS OF THE CITY OF SIOUX FALLS, SOUTH DAKOTA.SFACF'S GRANTMAKING IS AIMED AT IMPROVING THE QUALITY OF LIFE IN THE SERVICE AREA, FOR GOOD, FOR EVER. IN FISCAL YEAR 2025, NEARLY 3,900 GRANTS WERE MADE. STUDENTS BENEFITED FROM COMPETITIVELY AWARDED SCHOLARSHIPS AND COMPETITIVELY AWARDED GRANTS WERE MADE TO ORGANIZATIONS THAT SOUGHT TO ADDRESS THE AREA'S MOST PRESSING NEEDS AND OPPORTUNITIES.CHARITABLE ORGANIZATIONS RECEIVED SUPPORT IN PROGRAM AREAS THAT INCLUDE ARTS AND HUMANITIES, COMMUNITY DEVELOPMENT, EDUCATION, ENVIRONMENT, HEALTH, HUMAN SERVICES, AND RELIGION.SFACF HAS MET AND ADHERES TO NATIONAL STANDARDS FOR COMMUNITY FOUNDATIONS IN THE U.S. AS ESTABLISHED BY THE COUNCIL ON FOUNDATIONS, HYPERLINK "HTTP://WWW.COF.ORG"WWW.COF.ORG, ARLINGTON, VIRGINIA.

    Expenses $40,157,307 · Grants $38,909,054

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Suzanne Veenis

    CHAIR OF THE BOARD

    Total calculated
    $0
    Hours/week
    2

  • Todd Ernst

    PAST CHAIR OF THE BOARD

    Total calculated
    $0
    Hours/week
    2

  • Aaron Severson

    VICE CHAIR OF THE BOARD

    Total calculated
    $0
    Hours/week
    2

  • Matt Gassen

    TREASURER, CHAIR OF FINANCE COMMITTEE

    Total calculated
    $0
    Hours/week
    2

  • Marilyn Korsten

    SECRETARY, CHAIR OF GRANTS COMMITTEE

    Total calculated
    $0
    Hours/week
    2

  • Stacy Erdmann

    CHAIR OF AUDIT COMMITTEE

    Total calculated
    $0
    Hours/week
    2

  • Mandy Gaikowski

    CHAIR OF LEGAL COMMITTEE

    Total calculated
    $0
    Hours/week
    2

  • Maggie Groteluschen

    MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Jason Herrboldt

    MEMBER (THRU 09/25/24)

    Total calculated
    $0
    Hours/week
    0

  • Angela Lammers

    MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Angeline Lavin

    CHAIR OF INVESTMENT COMMITTEE

    Total calculated
    $0
    Hours/week
    2

  • Lorrae Lindquist

    MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Steve Sarbacker

    CHAIR OF GIFT ACCEPTANCE

    Total calculated
    $0
    Hours/week
    2

  • Jim Soukup

    MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Pat Sweetman

    MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Ben Wiener

    MEMBER (THRU 6/27/25)

    Total calculated
    $0
    Hours/week
    2

  • Andrew Patterson

    PRESIDENT/CEO

    Total calculated
    $246,175
    From this org
    $226,250
    From related orgs
    $0
    Other
    $19,925
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $193,250
    Bonus
    $33,000
    Other
    $0
    Deferred
    $19,925
    Nontaxable benefits
    $0
    Filer's total
    $246,175

  • Mary Kolsrud

    CHIEF PHILANTHROPY OFFICER

    Total calculated
    $153,607
    From this org
    $134,643
    From related orgs
    $0
    Other
    $18,964
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $134,643
    Bonus
    $0
    Other
    $0
    Deferred
    $13,964
    Nontaxable benefits
    $5,000
    Filer's total
    $153,607

  • Mike Finnegan

    CHIEF FINANCIAL OFFICER

    Total calculated
    $153,546
    From this org
    $136,387
    From related orgs
    $0
    Other
    $17,159
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $136,387
    Bonus
    $0
    Other
    $0
    Deferred
    $13,959
    Nontaxable benefits
    $3,200
    Filer's total
    $153,546

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

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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

  • SIOUX FALLS SCHOOL DISTRICT #49-5

    $7,010,169

    ANGEL FUND, COMMUNITY LEARNING CENTERS, SUMMER MUSIC CAMP SUPPORT, BOYS & GIRLS CLUB BUILDING PROJECT, FIELD TRIPS, PROGRAM SUPPORT

  • AUGUSTANA UNIVERSITY

    $3,517,321

    GENERAL SUPPORT, CAPITAL PROJECTS, DEPARTMENT SUPPORT, ATHLETICS SUPPORT, LIBRARY SUPPORT, SCHOLARSHIP FUNDING, CENTER FOR WESTERN STUDIES SUPPORT

  • CITY OF SIOUX FALLS

    $2,608,224

    AQUATIC CENTER, MUNICIPAL BAND SUPPORT, MAINTENANCE AND IMPROVEMENTS TO CITY PARKS, BIKE TRAIL EXPANSION

  • DAKOTA STATE UNIVERSITY FOUNDATION

    $1,210,000

    CYBER EXTENSION, FUNDRAISING SUPPORT

  • BLACK HILLS STATE UNIVERSITY FOUNDATION

    $1,108,750

    PROGRAM SUPPORT, GENERAL SUPPORT, WOMEN'S BUSINESS CENTER, WOMEN'S ATHLETIC SUPPORT

  • CENTRAL CHURCH

    $1,030,505

    GENERAL SUPPORT, BUILDING EXPANSION/ADDITION, MISSION TRIPS

  • VETERANS COMMUNITY PROJECT

    $969,400

    GENERAL SUPPORT, BUILDING PROJECT

  • LIFESCAPE FOUNDATION

    $885,798

    GENERAL SUPPORT, SD ACHIEVE PROGRAM, CHILDREN'S HOSPITAL, JOURNEY OF HOPE CAMPAIGN, CAPITAL PROJECT

  • SIOUX EMPIRE UNITED WAY -

    $764,513

    GENERAL SUPPORT

  • CATHOLIC COMMUNITY FOUNDATION FOR EASTERN SD

    $697,836

    PROGRAM SUPPORT, PARISH SUPPORT, PRIEST RETIREMENT APPEAL, BROOM TREE RETREAT CENTER, CAPITAL PROJECTS

The 10 largest by cash amount. The API serves every itemized grant.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

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

  • (1) EASTBANK LAND COMPANY II LLC

    HOLD TITLE TO R.E. · SD · income $0 · assets $565,000

    Directly controlled by SFACF

  • (2) EASTBANK LAND IV LLC

    HOLD TITLE TO R.E. · SD · income $218,029 · assets $0

    Directly controlled by SFACF

  • (3) EASTBANK LAND V LLC

    HOLD TITLE TO R.E. · SD · income $0 · assets $0

    Directly controlled by SFACF

Provenance

Return type
form_990
Tax year
2024
Filed
1 April 2026
IRS schema version
2024v5.5
Source object
202600919349300940

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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