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Nonprofiteer
← SIOUX FALLS AREA COMMUNITY FOUNDATION INC

Form 990 for tax year 2023

Filed by SIOUX FALLS AREA COMMUNITY FOUNDATION INC.

Totals

Total revenue
$106,816,971
Total expenses
$40,675,484
Contributions and grants received
$91,995,739
Grants paid
$38,394,837
Program service revenue
$0
Investment income
$14,848,306
Other revenue
-$27,074
Total assets, end of year
$364,501,593
Total liabilities, end of year
$45,231,726
Net assets or fund balances, end of year
$319,269,867
Program services expenses (Part IX)
$39,577,453
Management and general expenses
$369,057
Fundraising expenses
$728,974
Program service expenses (Part III)
$39,577,453

Program services were 97.3% 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

    $146,550

  • 1f · All other contributions, gifts and grants

    $91,849,189

  • 1g · Noncash contributions included above

    $6,608,945

  • 3 · Investment income

    total $10,293,247 · excluded $10,293,247

  • 7a · Gross sales of assets other than inventory

    securities $50,504,451

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

    securities $45,946,309 · other assets $3,083

  • 7c · Gain or loss

    securities $4,558,142 · other assets -$3,083

  • 7d · Net gain or loss

    total $4,555,059 · excluded $4,555,059

  • 8a · Fundraising events: gross income

    $13,450

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

    $146,550

  • 8b · Fundraising events: direct expenses

    $40,524

  • 8c · Net income from fundraising events

    total -$27,074 · excluded -$27,074

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $37,881,537 · program services $37,881,537

  • 2 · Grants to domestic individuals

    total $513,300 · program services $513,300

  • 5 · Compensation of officers, directors and key employees

    total $511,243 · program services $178,935 · management and general $122,698 · fundraising $209,610

  • 7 · Other salaries and wages

    total $503,420 · program services $176,197 · management and general $120,821 · fundraising $206,402

  • 8 · Pension plan contributions

    total $42,533 · program services $14,887 · management and general $10,208 · fundraising $17,438

  • 9 · Other employee benefits

    total $46,133 · program services $16,147 · management and general $11,072 · fundraising $18,914

  • 10 · Payroll taxes

    total $69,461 · program services $24,311 · management and general $16,671 · fundraising $28,479

  • 11a · Fees: management

    total $8,411 · program services $2,187 · management and general $2,860 · fundraising $3,364

  • 11b · Fees: legal

    total $30,097 · program services $7,825 · management and general $10,233 · fundraising $12,039

  • 12 · Advertising and promotion

    total $126,680 · program services $12,668 · fundraising $114,012

  • 13 · Office expenses

    total $83,491 · program services $29,467 · management and general $19,350 · fundraising $34,674

  • 14 · Information technology

    total $58,955 · program services $20,635 · management and general $14,149 · fundraising $24,171

  • 16 · Occupancy

    total $20,954 · program services $7,334 · management and general $5,029 · fundraising $8,591

  • 17 · Travel

    total $5,134 · program services $1,797 · management and general $1,232 · fundraising $2,105

  • 19 · Conferences, conventions and meetings

    total $19,510 · program services $6,828 · management and general $4,683 · fundraising $7,999

  • 22 · Depreciation, depletion and amortization

    total $55,886 · program services $19,560 · management and general $13,413 · fundraising $22,913

  • 23 · Insurance

    total $18,246 · program services $6,386 · management and general $4,379 · fundraising $7,481

  • 24a · Other expenses: LIFE INSURANCE PREMIUM

    total $375,495 · program services $375,495

  • 24b · Other expenses: DIRECT FUND EXPENSES

    total $270,408 · program services $270,408

  • 24c · Other expenses: ORGANIZATIONAL DUES

    total $18,348 · program services $1,834 · management and general $8,257 · fundraising $8,257

  • 24d · Other expenses: SCHOLARSHIP AND GRANTMA

    total $7,997 · program services $7,997

  • 24e · All other expenses

    total $8,245 · program services $1,718 · management and general $4,002 · fundraising $2,525

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $56,366,522 · end of year $77,705,802

  • 3 · Pledges and grants receivable

    beginning of year $1,025,219 · end of year $45,056,774

  • 9 · Prepaid expenses and deferred charges

    beginning of year $16,534 · end of year $236,162

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

    $2,089,353

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

    $590,480

  • 10c · Land, buildings and equipment, net

    beginning of year $1,343,843 · end of year $1,498,873

  • 11 · Investments: publicly traded securities

    beginning of year $211,459,017 · end of year $231,698,208

  • 12 · Investments: other securities

    beginning of year $4,004,704 · end of year $14,918

  • 15 · Other assets

    beginning of year $8,907,761 · end of year $8,290,856

  • 17 · Accounts payable and accrued expenses

    beginning of year $89,851 · end of year $241,114

  • 18 · Grants payable

    beginning of year $96,400 · end of year $30,000

  • 25 · Other liabilities

    beginning of year $41,237,542 · end of year $44,960,612

  • 27 · Net assets without donor restrictions

    beginning of year $228,933,876 · end of year $264,336,628

  • 28 · Net assets with donor restrictions

    beginning of year $12,765,931 · end of year $54,933,239

Mission and programs · 2023

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.

Activities or mission (Part I)

THE SIOUX FALLS AREA COMMUNITY (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 FY 2024, NEARLY 3,500 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.

    Expenses $39,577,453 · Grants $38,394,837

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Todd Ernst

    CHAIR OF THE BOARD

    Total calculated
    $0
    Hours/week
    2

  • Suzanne Veenis

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Matt Gassen

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Aaron Severson

    TREASURER,CHAIR OF FINANCE

    Total calculated
    $0
    Hours/week
    2

  • Amange Aware

    MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Stacy Erdmann

    CHAIR OF AUDIT

    Total calculated
    $0
    Hours/week
    2

  • Mandy Gaikowski

    CHAIR OF LEGAL/EASTBANK LAND

    Total calculated
    $0
    Hours/week
    2

  • Marilyn Korsten

    CHAIR OF GRANTS

    Total calculated
    $0
    Hours/week
    2

  • Angela Lammers

    MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Angeline Lavin

    CHAIR OF INV. MNGMT. (BEG. 01/24)

    Total calculated
    $0
    Hours/week
    2

  • Lorrae Lindquist

    MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Sarah Madison

    CHAIR OF INV. MNGMT. (THROUGH 01/24)

    Total calculated
    $0
    Hours/week
    2

  • Steve Sarbacker

    CHAIR OF GIFT ACCEPTANCE

    Total calculated
    $0
    Hours/week
    2

  • Pat Sweetman

    MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Doug Tribble

    MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Ben Wiener

    MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Andrew Patterson

    PRESIDENT/CEO

    Total calculated
    $233,730
    From this org
    $182,935
    From related orgs
    $0
    Other
    $50,795
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $155,935
    Bonus
    $27,000
    Other
    $0
    Deferred
    $17,425
    Nontaxable benefits
    $33,370
    Filer's total
    $233,730

  • Mike Finnegan

    VP, FINANCE/CFO

    Total calculated
    $132,124
    From this org
    $118,613
    From related orgs
    $0
    Other
    $13,511
    Hours/week
    50

  • Mary Kolsrud

    VP, PHILANTHROPY

    Total calculated
    $133,050
    From this org
    $112,078
    From related orgs
    $0
    Other
    $20,972
    Hours/week
    50

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

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.

  • EASTBANK LAND COMPANY II LLC

    TO OWN, MANAGE, SELL, LEASE & OTHERWISE HOLD TITLE TO & OPERATE REAL ESTATE · SD · income $0 · assets $565,000

    Directly controlled by SIOUX FALLS AREA COMMUNITY FOUNDATION

  • EASTBANK LAND IV LLC

    TO OWN, MANAGE, SELL, LEASE & OTHERWISE HOLD TITLE TO & OPERATE REAL ESTATE · SD · income $0 · assets $150,000

    Directly controlled by SIOUX FALLS AREA COMMUNITY FOUNDATION

  • EASTBANK LAND V LLC

    TO OWN, MANAGE, SELL, LEASE & OTHERWISE HOLD TITLE TO & OPERATE REAL ESTATE · SD · income $0 · assets $0

    Directly controlled by SIOUX FALLS AREA COMMUNITY FOUNDATION

Provenance

Return type
form_990
Tax year
2023
Filed
1 April 2025
IRS schema version
2023v6.0
Source object
202500939349300880

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