Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $1,733,719

• 3 · Investment income

  total $121,278 · excluded $121,278

• 6a · Gross rents

  real property $1,756,974

• 6b · Less rental expenses

  real property $2,015,104

• 6c · Rental income or loss

  real property -$258,130

• 6d · Net rental income or loss

  total -$258,130 · unrelated business -$209,538 · excluded -$48,592

• 7a · Gross sales of assets other than inventory

  securities $326

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

  securities $0

• 7c · Gain or loss

  securities $326

• 7d · Net gain or loss

  total $326 · related or exempt $326

• 9a · Gaming: gross income

  $25,119,433

• 9b · Gaming: direct expenses

  $23,999,006

• 9c · Net income from gaming

  total $1,120,427 · excluded $1,120,427

• 11a · Other revenue: RECOVERIES OF BAD DEBT

  total $10,000 · related or exempt $10,000

• 11b · Other revenue: MISCELLANEOUS

  total $222 · related or exempt $222

• 11e · Other revenue, total

  $10,222

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $4,525,510 · program services $4,525,510

• 5 · Compensation of officers, directors and key employees

  total $278,198 · program services $63,642 · management and general $176,828 · fundraising $37,728

• 7 · Other salaries and wages

  total $61,760 · program services $12,519 · management and general $12,240 · fundraising $37,001

• 8 · Pension plan contributions

  total $7,620 · program services $1,468 · management and general $1,561 · fundraising $4,591

• 9 · Other employee benefits

  total $19,448 · program services $3,804 · management and general $3,947 · fundraising $11,697

• 10 · Payroll taxes

  total $21,396 · program services $4,793 · management and general $11,695 · fundraising $4,908

• 11b · Fees: legal

  total $4,528 · management and general $4,528

• 11c · Fees: accounting

  total $23,382 · management and general $23,382

• 11g · Fees: other

  total $20,768 · fundraising $20,768

• 12 · Advertising and promotion

  total $14,365 · program services $14,365

• 13 · Office expenses

  total $3,019 · management and general $859 · fundraising $2,160

• 16 · Occupancy

  total $10,329 · management and general $10,329

• 17 · Travel

  total $2,904 · fundraising $2,904

• 22 · Depreciation, depletion and amortization

  total $5,211 · management and general $5,211

• 23 · Insurance

  total $2,176 · management and general $2,176

• 24a · Other expenses: TETON THUNDER EXPENSE

  total $14,659 · program services $14,659

• 24b · Other expenses: SPECIAL EVENTS

  total $10,876 · program services $5,438 · fundraising $5,438

• 24c · Other expenses: MISCELLANEOUS

  total $7,242 · management and general $5,381 · fundraising $1,861

• 24d · Other expenses: SUPPLIES

  total $2,317 · management and general $2,317

• 24e · All other expenses

  total -$27,313 · program services -$27,313

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $673,578 · end of year $712,817

• 2 · Savings and temporary cash investments

  beginning of year $2,375,598 · end of year $4,156,368

• 3 · Pledges and grants receivable

  beginning of year $2,950,000 · end of year $3,000,000

• 4 · Accounts receivable

  beginning of year $51,426 · end of year $49,207

• 9 · Prepaid expenses and deferred charges

  beginning of year $59,281 · end of year $84,005

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

  $19,932,070

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

  $5,668,153

• 10c · Land, buildings and equipment, net

  beginning of year $14,877,902 · end of year $14,263,917

• 11 · Investments: publicly traded securities

  end of year $21,495

• 14 · Intangible assets

  beginning of year $1,597,451 · end of year $1,365,094

• 15 · Other assets

  beginning of year $528,911 · end of year $789,818

• 17 · Accounts payable and accrued expenses

  beginning of year $208,897 · end of year $305,122

• 21 · Escrow or custodial account liability

  beginning of year $99,110 · end of year $101,502

• 23 · Secured mortgages and notes payable

  beginning of year $5,677,150 · end of year $5,529,177

• 24 · Unsecured notes and loans payable

  beginning of year $6,000,000 · end of year $6,000,000

• 25 · Other liabilities

  beginning of year $27,482 · end of year $1,880,880

• 27 · Net assets without donor restrictions

  beginning of year $1,957,365 · end of year $6,009,432

• 28 · Net assets with donor restrictions

  beginning of year $9,144,143 · end of year $4,616,608

The filer's explanations (Part III)

PART I, LINE 3

HUNTER BERG IS COMPENSATED BY WILLISTON STATE COLLEGE AND WILLISTON STATE COLLEGE FOUNDATION REIMBURSES WILLISTON STATE COLLEGE FOR HUNTER'S COMPENSATION. THE BOXES MARKED ABOVE REPRESENT THE STEPS TAKEN BY THE FOUNDATION TO DETERMINE HUNTER'S COMPENSATION THAT WILL BE REIMBURSED BY THE FOUNDATION.

PART II

THE COMPENSATION REPORTED IN PART II IS DETERMINED BY WILLISTON STATE COLLEGE FOUNDATION. PAID BY WILLISTON STATE COLLEGE, AND REIMBURSED BY THE FOUNDATION.

PART 1, LINE 1A

HUNTER BERG, EXECUTIVE DIRECTOR, RECEIVED $10,000 IN A DISCRETIONARY SPENDING ACCOUNT WHICH WAS APPROVED BY THE BOARD. THE FUNDS ARE USED FOR SMALL DONATIONS AND SPONSORSHIPS TO OTHER CHARITIES IN THE AREA. THE BOARD SEES ALL EXPENDITURES PAID OUT FROM THIS ACCOUNT. THE AMOUNT IS NOT TREATED AS TAXABLE WAGES TO MR. BERG.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• WILLISTON STATE COLLEGE HOUSING

  AFFORDABLE HOUSING FOR WSC EMPLOYEES AND OTHER ESSENTIAL PERSONNEL. · ND · income $1,782,664 · assets $15,798,962

  Directly controlled by WILLISTON STATE COLLEGE FOUNDATION