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Nonprofiteer
← BEMIDJI STATE UNIVERSITY ALUMNI AND FOUNDATION

Form 990 for tax year 2022

Filed by BEMIDJI STATE UNIVERSITY ALUMNI AND FOUNDATION.

Totals

Total revenue
$4,435,133
Total expenses
$3,326,044
Contributions and grants received
$3,690,157
Grants paid
$1,904,481
Program service revenue
$0
Investment income
$616,002
Other revenue
$128,974
Total assets, end of year
$38,040,879
Total liabilities, end of year
$115,998
Net assets or fund balances, end of year
$37,924,881
Program services expenses (Part IX)
$2,059,087
Management and general expenses
$127,089
Fundraising expenses
$1,139,868
Program service expenses (Part III)
$2,059,087

Program services were 61.9% 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.

  • 1f · All other contributions, gifts and grants

    $3,690,157

  • 3 · Investment income

    total $616,002 · related or exempt $616,002

  • 5 · Royalties

    total $885 · related or exempt $885

  • 6a · Gross rents

    real property $61,087

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $61,087

  • 6d · Net rental income or loss

    total $61,087 · excluded $61,087

  • 8a · Fundraising events: gross income

    $120,498

  • 8b · Fundraising events: direct expenses

    $54,927

  • 8c · Net income from fundraising events

    total $65,571 · excluded $65,571

  • 11a · Other revenue: NET INCREASE (DECREASE

    total $1,431 · related or exempt $1,431

  • 11e · Other revenue, total

    $1,431

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $1,904,481 · program services $1,904,481

  • 7 · Other salaries and wages

    total $775,941 · program services $108,632 · management and general $31,038 · fundraising $636,271

  • 11e · Fees: professional fundraising services

    total $244,402 · fundraising $244,402

  • 11g · Fees: other

    total $17,575 · management and general $7,030 · fundraising $10,545

  • 14 · Information technology

    total $87,022 · management and general $34,809 · fundraising $52,213

  • 16 · Occupancy

    total $5,692 · program services $1,526 · fundraising $4,166

  • 17 · Travel

    total $7,344 · program services $734 · management and general $2,202 · fundraising $4,408

  • 19 · Conferences, conventions and meetings

    total $11,949 · management and general $4,780 · fundraising $7,169

  • 22 · Depreciation, depletion and amortization

    total $19,726 · program services $19,726

  • 23 · Insurance

    total $80,943 · management and general $5,666 · fundraising $75,277

  • 24a · Other expenses: MISCELLANEOUS

    total $63,525 · management and general $25,410 · fundraising $38,115

  • 24b · Other expenses: PURCHASED SERVICES

    total $18,751 · program services $17,813 · fundraising $938

  • 24c · Other expenses: PROFESSIONAL DEVELOPMEN

    total $18,730 · management and general $10,863 · fundraising $7,867

  • 24d · Other expenses: PHONATHON INCENTIVES

    total $18,499 · fundraising $18,499

  • 24e · All other expenses

    total $51,464 · program services $6,175 · management and general $5,291 · fundraising $39,998

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $784,509 · end of year $1,053,424

  • 3 · Pledges and grants receivable

    beginning of year $1,288,872 · end of year $1,584,676

  • 4 · Accounts receivable

    beginning of year $44,704 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $11,222 · end of year $12,632

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

    $796,607

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

    $559,685

  • 10c · Land, buildings and equipment, net

    beginning of year $256,648 · end of year $236,922

  • 12 · Investments: other securities

    beginning of year $31,503,195 · end of year $34,924,831

  • 15 · Other assets

    beginning of year $303,578 · end of year $228,394

  • 17 · Accounts payable and accrued expenses

    beginning of year $114,418 · end of year $38,328

  • 25 · Other liabilities

    beginning of year $83,792 · end of year $77,670

  • 27 · Net assets without donor restrictions

    beginning of year $3,744,252 · end of year $3,728,245

  • 28 · Net assets with donor restrictions

    beginning of year $30,250,266 · end of year $34,196,636

Mission and programs · 2022

Mission

THE BEMIDJI STATE UNIVERSITY FOUNDATION WILL INVEST IN THE ADVANCEMENT OF THE UNIVERSITY BY PROMOTING A CULTURE OF PHILANTHROPY AND ENSURING THE FOUNDATION'S FINANCIAL INTEGRITY.

Activities or mission (Part I)

SEE SCHEDULE O

  • SCHOLARSHIPS AND EDUCATIONAL AWARDS AND ALLOCATIONS TO BSU STUDENTS.

    Expenses $1,111,376 · Grants $1,131,376

  • SUPPORT FOR D1 HOCKEY PROGRAM

    Expenses $11,106 · Grants $11,106 · Revenue $11,106

  • ENDOWED CHAIRS

    Expenses $68,000 · Grants $68,000 · Revenue $129,644

  • STUDENT ACTIVITY FUNDS - DISBURSEMENTS MADE IN TRUST FOR VARIOUS BSU ACTIVITY EVENTS.

    Expenses $868,605 · Grants $693,999 · Revenue $477,568

  • VARIOUS OTHER

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Cynthia Cashman

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Scott Kurtzweg

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Xihao Hu

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Carrie Jones

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jane Berman

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Kay Mack

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Abby Meyer

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Doug Fredrickson

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Roger Reierson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Tom Heaviland

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Lisa Kittleson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jake Richmann

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Joe Grabowski

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Jim Walrath

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Allyssa Joseph

    BOARD MEMBER

    Total calculated
    $15,642
    From this org
    $15,642
    From related orgs
    $0
    Other
    $0
    Hours/week
    1 + 40 related

  • Joshue Christianson

    FORMER BOARD MEMBER

    Total calculated
    $133,703
    From this org
    $133,703
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $133,703
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $133,703

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

  • 1a · Discretionary spending account
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Written employment contract
  • 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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
12 October 2023
IRS schema version
2022v5.0
Source object
202332979349301133

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