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Nonprofiteer
← SOUTH DAKOTA STATE UNIVERSITY FOUNDATION

Form 990 for tax year 2023

Filed by SOUTH DAKOTA STATE UNIVERSITY FOUNDATION.

Totals

Total revenue
$63,664,809
Total expenses
$68,418,903
Contributions and grants received
$51,939,815
Grants paid
$59,562,516
Program service revenue
$2,461,204
Investment income
$8,568,406
Other revenue
$695,384
Total assets, end of year
$389,380,417
Total liabilities, end of year
$12,479,317
Net assets or fund balances, end of year
$376,901,100
Program services expenses (Part IX)
$59,562,516
Management and general expenses
$4,996,571
Fundraising expenses
$3,859,816
Program service expenses (Part III)
$59,562,516

Program services were 87.1% 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.

  • 1f · All other contributions, gifts and grants

    $51,939,815

  • 1g · Noncash contributions included above

    $8,634,027

  • 2a · Program service revenue: SUPPORT SERVICES

    total $2,300,000 · related or exempt $2,300,000

  • 2b · Program service revenue: OTHER REVENUE

    total $161,204 · related or exempt $260,786 · unrelated business -$99,582

  • 3 · Investment income

    total $8,848,656 · excluded $8,848,656

  • 6a · Gross rents

    real property $695,384

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $695,384

  • 6d · Net rental income or loss

    total $695,384 · excluded $695,384

  • 7a · Gross sales of assets other than inventory

    securities $30,319,051 · other assets $492,140

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

    securities $30,742,038 · other assets $349,403

  • 7c · Gain or loss

    securities -$422,987 · other assets $142,737

  • 7d · Net gain or loss

    total -$280,250 · excluded -$280,250

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $59,562,516 · program services $59,562,516

  • 5 · Compensation of officers, directors and key employees

    total $774,998 · management and general $389,057 · fundraising $385,941

  • 7 · Other salaries and wages

    total $3,233,920 · management and general $1,814,018 · fundraising $1,419,902

  • 8 · Pension plan contributions

    total $248,155 · management and general $136,345 · fundraising $111,810

  • 9 · Other employee benefits

    total $350,473 · management and general $202,627 · fundraising $147,846

  • 10 · Payroll taxes

    total $274,692 · management and general $148,346 · fundraising $126,346

  • 11b · Fees: legal

    total $27,984 · management and general $23,894 · fundraising $4,090

  • 11c · Fees: accounting

    total $98,675 · management and general $96,811 · fundraising $1,864

  • 11f · Fees: investment management

    total $315,165 · management and general $249,592 · fundraising $65,573

  • 11g · Fees: other

    total $179,255 · management and general $73,306 · fundraising $105,949

  • 12 · Advertising and promotion

    total $126,601 · management and general $49,466 · fundraising $77,135

  • 13 · Office expenses

    total $215,849 · management and general $105,724 · fundraising $110,125

  • 14 · Information technology

    total $387,033 · management and general $235,658 · fundraising $151,375

  • 16 · Occupancy

    total $331,104 · management and general $270,666 · fundraising $60,438

  • 17 · Travel

    total $190,668 · management and general $12,332 · fundraising $178,336

  • 19 · Conferences, conventions and meetings

    total $222,540 · management and general $209,066 · fundraising $13,474

  • 20 · Interest

    total $121,501 · management and general $121,501

  • 22 · Depreciation, depletion and amortization

    total $820,625 · management and general $523,741 · fundraising $296,884

  • 23 · Insurance

    total $75,507 · management and general $64,254 · fundraising $11,253

  • 24a · Other expenses: RECOGNITION AND MEMORIA

    total $333,556 · management and general $249,718 · fundraising $83,838

  • 24b · Other expenses: HOSPITALITY

    total $297,718 · management and general $3,775 · fundraising $293,943

  • 24c · Other expenses: PROFESSIONAL FUNDRAISIN

    total $108,414 · fundraising $108,414

  • 24d · Other expenses: DUES AND SUBSCRIPTIONS

    total $28,690 · management and general $10,616 · fundraising $18,074

  • 24e · All other expenses

    total $93,264 · management and general $6,058 · fundraising $87,206

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $18,422,622 · end of year $20,062,110

  • 3 · Pledges and grants receivable

    beginning of year $41,049,332 · end of year $47,057,072

  • 7 · Other notes and loans receivable

    beginning of year $3,852,611 · end of year $8,009,588

  • 9 · Prepaid expenses and deferred charges

    beginning of year $229,100 · end of year $206,073

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

    $35,640,888

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

    $5,794,649

  • 10c · Land, buildings and equipment, net

    beginning of year $23,920,969 · end of year $29,846,239

  • 11 · Investments: publicly traded securities

    beginning of year $258,152,969 · end of year $257,500,541

  • 12 · Investments: other securities

    beginning of year $17,468,633 · end of year $17,295,452

  • 15 · Other assets

    beginning of year $11,646,244 · end of year $9,403,342

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,515,142 · end of year $4,883,290

  • 19 · Deferred revenue

    beginning of year $0 · end of year $450,000

  • 23 · Secured mortgages and notes payable

    beginning of year $2,045,846 · end of year $1,955,827

  • 25 · Other liabilities

    beginning of year $5,731,535 · end of year $5,190,200

  • 27 · Net assets without donor restrictions

    beginning of year -$6,608,448 · end of year -$1,760,631

  • 28 · Net assets with donor restrictions

    beginning of year $369,058,405 · end of year $378,661,731

Mission and programs · 2023

Mission

ENHANCING EXCELLENCE BY CULTIVATING GENEROSITY AND TREASURING THE LOYALTY OF ALL WE SERVE.

Activities or mission (Part I)

UNITING THE DREAMS OF OUR STUDENTS, UNIVERSITY, AND DONORS TO BUILD A BETTER SDSU.

  • TO UNITE THE DREAMS OF OUR STUDENTS, UNIVERSITY, AND DONORS TO BUILD A BETTER SDSU. APPROXIMATELY $10.65 MILLION IN SCHOLARSHIPS WERE AWARDED, $9.08 MILLION IN DEPARTMENTAL PROGRAMS WERE FUNDED, AND $37.2 MILLION IN CAPITAL PROJECTS WERE FUNDED DURING 2023.

    Expenses $59,562,516 · Grants $59,562,516 · Revenue $2,560,786

As filed on the 2023 return.

Listed in Part VII

  • Marc Mooney

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Kevin Tetzlaff

    CHAIR-ELECT

    Total calculated
    $0
    Hours/week
    1

  • Bob Schmidt

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Brian Aamlid

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Roberta Olson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Rita Edwards

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mark Wahlstrom

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Dana Dykhouse

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Travys Harvey-King

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mike Roberts

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Michelle McCarville

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Kathy Walker

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Dave Schaefer

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Steve Erpenbach

    PRESIDENT/CEO

    Total calculated
    $303,839
    From this org
    $243,663
    From related orgs
    $0
    Other
    $60,176
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $243,663
    Bonus
    $0
    Other
    $0
    Deferred
    $20,883
    Nontaxable benefits
    $39,906
    Filer's total
    $304,452

  • Tim Dwire

    VP FOR FINANCE & OPERATIONS

    Total calculated
    $236,219
    From this org
    $188,710
    From related orgs
    $0
    Other
    $47,509
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $188,710
    Bonus
    $0
    Other
    $0
    Deferred
    $15,946
    Nontaxable benefits
    $32,176
    Filer's total
    $236,832

  • Keith Mahlum

    VP FOR DEVELOPMENT

    Total calculated
    $233,103
    From this org
    $180,804
    From related orgs
    $0
    Other
    $52,299
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $180,804
    Bonus
    $0
    Other
    $0
    Deferred
    $11,913
    Nontaxable benefits
    $40,999
    Filer's total
    $233,716

  • Michael Birgen

    ASSOC VP FOR PHILANTHROPY

    Total calculated
    $144,676
    From this org
    $122,503
    From related orgs
    $0
    Other
    $22,173
    Hours/week
    55

  • Rina Reynolds

    ASSOC VP FOR PHILANTHROPY

    Total calculated
    $135,748
    From this org
    $124,754
    From related orgs
    $0
    Other
    $10,994
    Hours/week
    55

  • Arian Bunde

    VP FOR STRATEGY & INNOVATION

    Total calculated
    $140,005
    From this org
    $123,726
    From related orgs
    $0
    Other
    $16,279
    Hours/week
    55

  • Ned Gavlick

    ASSOC VP FOR GIFT PLANNING

    Total calculated
    $134,689
    From this org
    $117,274
    From related orgs
    $0
    Other
    $17,415
    Hours/week
    55

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

  • SOUTH DAKOTA STATE UNIVERSITY

    $56,899,969

    GIFTS, GRANTS, SCHOLARSHIPS; SDSU DEPT EXPENSES, BUILDING & EQUIPMENT PURCHASES

  • DAKOTA BIOWORX

    $2,124,558

    CAPITAL PROJECT

  • SDSU ALUMNI ASSOCIATION

    $533,843

    PROGRAM SUPPORT

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.

  • MEDARY AVIATION LLC

    AIRPLANE LEASING · SD · income -$248,027 · assets $5,892,944

    Directly controlled by SDSU FOUNDATION

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • MISSION HILLS PLAZA VENTURE

    EXCLUDED · RENTAL ACTIVITY · FL · 50% owned · share of income $13,450 · share of assets $81,676 · general or managing partner

    Directly controlled by SOUTH DAKOTA STATE UNIVERSITY FOUNDATION

Related corporations and trusts

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

  • CHARITABLE REMAINDER TRUSTS (29)

    T · CHARITABLE REMAINDER TRUST · SD · controlled entity

  • POOLED INCOME FUND (2)

    T · POOLED INCOME FUND · SD · controlled entity

Provenance

Return type
form_990
Tax year
2023
Filed
23 September 2024
IRS schema version
2023v5.1
Source object
202422679349301057

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