Form 990 for tax year 2022

Filed by JAMESTOWN COLLEGE FOUNDATION INC.

Totals

Total revenue: $919,805
Total expenses: $1,330,952
Contributions and grants received: $0
Grants paid: $0
Program service revenue: $0
Investment income: $586,854
Other revenue: $332,951
Total assets, end of year: $21,815,468
Total liabilities, end of year: $18,556,947
Net assets or fund balances, end of year: $3,258,521
Program services expenses (Part IX): $728,733
Management and general expenses: $602,219
Fundraising expenses: $0
Program service expenses (Part III): $728,733

Program services were 54.8% 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.

3 · Investment income

total $586,854 · excluded $586,854
6a · Gross rents

real property $332,951
6b · Less rental expenses

real property $0
6c · Rental income or loss

real property $332,951
6d · Net rental income or loss

total $332,951 · related or exempt $332,951

Functional expenses

Part IX, the statement of functional expenses.

11c · Fees: accounting

total $2,650 · management and general $2,650
20 · Interest

total $599,569 · management and general $599,569
22 · Depreciation, depletion and amortization

total $728,658 · program services $728,658
24a · Other expenses: Bank Fees

total $75 · program services $75

Balance sheet

Part X, book values.

2 · Savings and temporary cash investments

beginning of year $392 · end of year $317
7 · Other notes and loans receivable

beginning of year $19,077,243 · end of year -$7,778
10a · Land, buildings and equipment: cost or other basis

$31,627,993
10b · Land, buildings and equipment: accumulated depreciation

$9,805,064
10c · Land, buildings and equipment, net

beginning of year $22,551,587 · end of year $21,822,929
25 · Other liabilities

beginning of year $37,959,553 · end of year $18,556,947
27 · Net assets without donor restrictions

beginning of year $3,669,669 · end of year $3,258,521

Mission and programs · 2022

Mission

The Jamestown College Foundation is organized solely as a means of generating financial support for the programs and services of the University of Jamestown.

Activities or mission (Part I)

To provide financial support for the programs and services of the University of Jamestown.

The sole purpose for which the corporation is formed is funding the work of the University of Jamestown.

Expenses $728,733 · Revenue $332,951

As filed on the 2022 return.

Listed in Part VII

James Unruh

Chairman

Total calculated

$0

Hours/week

0.1 + 3 related
Todd Steinwand

1st Vice Chair

Total calculated

$0

Hours/week

0.1 + 2 related
Jo-Ida Hansen

2nd Vice Chair

Total calculated

$0

Hours/week

0.1 + 2 related
Kelly Krein

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Alan Berg

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Kari Ness

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Bart Holaday

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Jim Johnson

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Larry Langemo

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
C Alan Lindberg

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
David Muhs

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Robert Piatz

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Jasper Schneider

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
H George Schuler

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Jill Sisk

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Paul Sukut

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
William Bernhagen

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Virgil Miedema

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Richard Hall

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Peggy Foss

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Chrystal Veazey-Watson

Trustee until May 2023

Total calculated

$0

Hours/week

0.1 + 1 related
Brian Johnson

Trustee starting Feb 2023

Total calculated

$0

Hours/week

0.1 + 1 related
Jeff Young

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Mark Wolf

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
MaryBeth Hegstad

Ex Officio Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Robert McLennan

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
David Evinger

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Terry Wanzek

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Shane Berg

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Steven Bietz

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Sandi Piatz

Trustee

Total calculated

$0

Hours/week

0.1 + 1 related
Polly Peterson

President

Total calculated

$334,231

From this org

$0

From related orgs

$301,584

Other

$32,647

Hours/week

0.1 + 40 related

Schedule J breakdown matched by us

Base

$0 + $301,584 related

Bonus

$0

Other

$0

Deferred

$0 + $15,079 related

Nontaxable benefits

$0 + $17,598 related

Filer's total

$0 + $334,261 related
Kresha Wiest

CFO University of Jamestown

Total calculated

$125,179

From this org

$0

From related orgs

$119,218

Other

$5,961

Hours/week

0.1 + 40 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

The filer's explanations (Part III)

Part I, Line 3: The Organization does not establish the compensation of the President. Compensation is determined by the related organization, University of Jamestown, and the organization relied on a related organization to establish compensation.

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.

University of Jamestown

501(c)(3) · Education · ND · controlled entity

Directly controlled by Jamestown College Foundation

Provenance

Return type: form_990
Tax year: 2022
Filed: 30 October 2023
IRS schema version: 2022v5.0
Source object: 202333109349302468

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