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Nonprofiteer
← SOUTH DAKOTA FARMERS UNION FOUNDATION

Form 990 for tax year 2023

Filed by SOUTH DAKOTA FARMERS UNION FOUNDATION.

Totals

Total revenue
$70,679
Total expenses
$140,831
Contributions and grants received
$29,052
Grants paid
$0
Program service revenue
$0
Investment income
$12,549
Other revenue
$29,078
Total assets, end of year
$941,403
Total liabilities, end of year
$44
Net assets or fund balances, end of year
$941,359
Program services expenses (Part IX)
$129,912
Management and general expenses
$10,919
Fundraising expenses
$0
Program service expenses (Part III)
$129,912

Program services were 92.2% 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.

  • 1f · All other contributions, gifts and grants

    $29,052

  • 3 · Investment income

    total $5,691 · excluded $5,691

  • 7a · Gross sales of assets other than inventory

    securities $166,646 · other assets $699

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

    securities $160,487

  • 7c · Gain or loss

    securities $6,159 · other assets $699

  • 7d · Net gain or loss

    total $6,858 · related or exempt $6,159 · excluded $699

  • 8a · Fundraising events: gross income

    $34,982

  • 8b · Fundraising events: direct expenses

    $5,904

  • 8c · Net income from fundraising events

    total $29,078

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $9,657 · management and general $9,657

  • 13 · Office expenses

    total $1,982 · program services $720 · management and general $1,262

  • 24a · Other expenses: STATE FAIR

    total $55,000 · program services $55,000

  • 24b · Other expenses: CONFERENCES

    total $44,190 · program services $44,190

  • 24c · Other expenses: CAMP EXPENSE

    total $27,002 · program services $27,002

  • 24d · Other expenses: AWARDS/SCHOLARSHIPS

    total $3,000 · program services $3,000

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $890,590 · end of year $212,874

  • 2 · Savings and temporary cash investments

    end of year $500,204

  • 4 · Accounts receivable

    beginning of year $1,550

  • 11 · Investments: publicly traded securities

    beginning of year $200,040 · end of year $228,325

  • 17 · Accounts payable and accrued expenses

    beginning of year $86,796 · end of year $44

  • 27 · Net assets without donor restrictions

    beginning of year $829,860 · end of year $765,292

  • 28 · Net assets with donor restrictions

    beginning of year $175,524 · end of year $176,067

Mission and programs · 2023

Mission

TO PROVIDE MEMBER EDUCATION OPPORTUNITIES IN THE AREAS OF AGRICULTURE AND COOPERATIVE ORGANIZATIONS.

Activities or mission (Part I)

TO PROVIDE MEMBER EDUCATION OPPORTUNITIES THROUGH CONDUCTING YOUTH CAMPS AND PROVIDING SCHOLARSHIPS TO MEMBERS PURSUING A CAREER IN AGRICULTURE.

  • MONIES FROM THE FOUNDATION ARE USED TO FUND EDUCATIONAL OPPORTUNITIES PRIMARILY IN THE AREAS OF AGRICULTURE AND COOPERATIVE ORGANIZATIONS.

    Expenses $129,912

As filed on the 2023 return.

Listed in Part VII

  • Doug Sombke

    PRESIDENT

    Total calculated
    $190,635
    From this org
    $0
    From related orgs
    $186,640
    Other
    $3,995
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    not reported + $186,640 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $3,995 related
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $190,635 related

  • Karla Hofhenke

    SECRETARY-TR

    Total calculated
    $137,571
    From this org
    $0
    From related orgs
    $104,277
    Other
    $33,294
    Hours/week
    1 + 39 related

  • Gail Temple

    DIRECTOR

    Total calculated
    $6,000
    From this org
    $0
    From related orgs
    $6,000
    Other
    $0
    Hours/week
    0.1 + 3 related

  • Scott Kolousek

    DIRECTOR

    Total calculated
    $5,250
    From this org
    $0
    From related orgs
    $5,250
    Other
    $0
    Hours/week
    0.1 + 3 related

  • Oren Lesmeister

    DIRECTOR

    Total calculated
    $4,800
    From this org
    $0
    From related orgs
    $4,800
    Other
    $0
    Hours/week
    0.1 + 3 related

  • David Reis

    DIRECTOR

    Total calculated
    $4,500
    From this org
    $0
    From related orgs
    $4,500
    Other
    $0
    Hours/week
    0.1 + 3 related

  • Chad Johnson

    DIRECTOR

    Total calculated
    $4,200
    From this org
    $0
    From related orgs
    $4,200
    Other
    $0
    Hours/week
    0.1 + 3 related

  • Wayne Soren

    VICE PRESIDE

    Total calculated
    $4,200
    From this org
    $0
    From related orgs
    $4,200
    Other
    $0
    Hours/week
    0.1 + 3 related

  • Dallis Basel

    DIRECTOR

    Total calculated
    $3,600
    From this org
    $0
    From related orgs
    $3,600
    Other
    $0
    Hours/week
    0.1 + 3 related

  • Larry Birgen

    DIRECTOR

    Total calculated
    $2,700
    From this org
    $0
    From related orgs
    $2,700
    Other
    $0
    Hours/week
    0.1 + 3 related

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

No itemized grants to organizations on this return.

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.

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.

Related corporations and trusts

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

  • FARMERS UNION SERVICE ASSOCIATION

    C CORP · INSURANCE · SD

Provenance

Return type
form_990
Tax year
2023
Filed
19 September 2024
IRS schema version
2023v5.0
Source object
202432639349300233

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