Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $193,866

• 1f · All other contributions, gifts and grants

  $4,192,686

• 1g · Noncash contributions included above

  $76,656

• 3 · Investment income

  total $600,948 · excluded $600,948

• 6a · Gross rents

  real property $116,612

• 6b · Less rental expenses

  real property $129,353

• 6c · Rental income or loss

  real property -$12,741

• 6d · Net rental income or loss

  total -$12,741 · related or exempt -$10,448 · unrelated business -$2,293

• 7a · Gross sales of assets other than inventory

  securities $750,184 · other assets $8,918

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

  securities $586,804

• 7c · Gain or loss

  securities $163,380 · other assets $8,918

• 7d · Net gain or loss

  total $172,298 · excluded $172,298

• 8a · Fundraising events: gross income

  $88,574

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

  $193,866

• 8b · Fundraising events: direct expenses

  $51,403

• 8c · Net income from fundraising events

  total $37,171 · excluded $37,171

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $551,768 · program services $551,768

• 2 · Grants to domestic individuals

  total $1,574,286 · program services $1,574,286

• 7 · Other salaries and wages

  total $10,070 · management and general $10,070

• 10 · Payroll taxes

  total $1,164 · management and general $1,164

• 11c · Fees: accounting

  total $52,210 · program services $12,264 · management and general $39,946

• 11f · Fees: investment management

  total $69,951 · management and general $69,951

• 11g · Fees: other

  total $60,224 · program services $6,335 · management and general $30,406 · fundraising $23,483

• 12 · Advertising and promotion

  total $1,841 · program services $1,546 · management and general $228 · fundraising $67

• 13 · Office expenses

  total $118,343 · program services $71,350 · management and general $37,917 · fundraising $9,076

• 16 · Occupancy

  total $9,345 · program services $6,508 · management and general $2,837

• 17 · Travel

  total $16,046 · program services $8,984 · management and general $4,140 · fundraising $2,922

• 19 · Conferences, conventions and meetings

  total $658 · program services $658

• 20 · Interest

  total $26,141 · program services $26,141

• 22 · Depreciation, depletion and amortization

  total $33,908 · management and general $33,908

• 23 · Insurance

  total $18,608 · management and general $18,608

• 24a · Other expenses: BAD DEBT

  total $269,718 · management and general $269,718

• 24b · Other expenses: MEALS & ENT

  total $58,706 · program services $39,044 · management and general $8,568 · fundraising $11,094

• 24c · Other expenses: GIFTS & MEMORIALS

  total $43,429 · program services $29,206 · management and general $13,246 · fundraising $977

• 24d · Other expenses: SPEAKERS

  total $3,145 · program services $3,145

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $73,380 · end of year $250,795

• 2 · Savings and temporary cash investments

  beginning of year $2,789,830 · end of year $4,999,790

• 3 · Pledges and grants receivable

  beginning of year $2,424,884 · end of year $1,478,699

• 4 · Accounts receivable

  beginning of year $4,169 · end of year $20,975

• 9 · Prepaid expenses and deferred charges

  beginning of year $12,226 · end of year $11,263

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

  $4,064,290

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

  $896,461

• 10c · Land, buildings and equipment, net

  beginning of year $3,223,135 · end of year $3,167,829

• 11 · Investments: publicly traded securities

  beginning of year $22,240,553 · end of year $28,581,483

• 15 · Other assets

  beginning of year $2,164,491 · end of year $2,273,469

• 17 · Accounts payable and accrued expenses

  beginning of year $48,542 · end of year $310,605

• 19 · Deferred revenue

  beginning of year $23,980 · end of year $2,980

• 23 · Secured mortgages and notes payable

  beginning of year $547,076 · end of year $531,980

• 25 · Other liabilities

  beginning of year $3,878,503 · end of year $6,793,184

• 27 · Net assets without donor restrictions

  beginning of year $3,609,938 · end of year $3,966,956

• 28 · Net assets with donor restrictions

  beginning of year $24,824,629 · end of year $29,178,598

The filer's explanations (Part III)

SCHEDULE J, PAGE 1, PART I, LINE 1A

PART 1, LINE 3: OFFICERS' SALARIES ARE PAID BY BLACK HILLS STATE UNIVERSITY. COMPENSATION IS DETERMINED BY THE SOUTH DAKOTA BOARD OF REGENTS.