Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1b · Membership dues

  $236,949

• 1d · Related organizations

  $336,356

• 1e · Government grants (contributions)

  $267,624

• 1f · All other contributions, gifts and grants

  $8,026,310

• 1g · Noncash contributions included above

  $413,195

• 3 · Investment income

  total $541,223 · excluded $541,223

• 5 · Royalties

  total $10,613 · excluded $10,613

• 7a · Gross sales of assets other than inventory

  securities $962,183

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

  securities $885,551

• 7c · Gain or loss

  securities $76,632

• 7d · Net gain or loss

  total $76,632 · excluded $76,632

• 8a · Fundraising events: gross income

  $191,453

• 8b · Fundraising events: direct expenses

  $45,041

• 8c · Net income from fundraising events

  total $146,412 · excluded $146,412

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $2,113,180 · program services $2,113,180

• 7 · Other salaries and wages

  total $336,356 · management and general $184,996 · fundraising $151,360

• 11a · Fees: management

  total $178,962 · fundraising $178,962

• 11c · Fees: accounting

  total $50,375 · management and general $50,375

• 11e · Fees: professional fundraising services

  total $55,000 · fundraising $55,000

• 12 · Advertising and promotion

  total $19,021 · management and general $7,666 · fundraising $11,355

• 13 · Office expenses

  total $21,371 · management and general $10,294 · fundraising $11,077

• 15 · Royalties

  total $6,285 · fundraising $6,285

• 17 · Travel

  total $6,086 · management and general $6,086

• 19 · Conferences, conventions and meetings

  total $63,717 · management and general $36,079 · fundraising $27,638

• 22 · Depreciation, depletion and amortization

  total $395 · management and general $395

• 23 · Insurance

  total $6,200 · management and general $6,200

• 24a · Other expenses: Bad Debts

  total $500,990 · fundraising $500,990

• 24b · Other expenses: Printing and Publicatio

  total $98,039 · management and general $77,392 · fundraising $20,647

• 24c · Other expenses: Capital Campaign

  total $25,061 · fundraising $25,061

• 24d · Other expenses: Postage and Freight

  total $24,046 · management and general $19,834 · fundraising $4,212

• 24e · All other expenses

  total $55,165 · management and general $39,614 · fundraising $15,551

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $27,000 · end of year $37,443

• 2 · Savings and temporary cash investments

  beginning of year $1,151,421 · end of year $1,809,396

• 3 · Pledges and grants receivable

  beginning of year $3,544,088 · end of year $9,308,150

• 9 · Prepaid expenses and deferred charges

  beginning of year $23,230 · end of year $16,064

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

  $55,082

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

  $37,557

• 10c · Land, buildings and equipment, net

  beginning of year $396 · end of year $17,525

• 11 · Investments: publicly traded securities

  beginning of year $14,973,419 · end of year $16,303,947

• 13 · Investments: program-related

  beginning of year $7,300 · end of year $7,300

• 17 · Accounts payable and accrued expenses

  end of year $17,525

• 25 · Other liabilities

  beginning of year $153,451 · end of year $51,372

• 27 · Net assets without donor restrictions

  beginning of year $448,767 · end of year -$69,314

• 28 · Net assets with donor restrictions

  beginning of year $19,124,636 · end of year $27,500,242

The filer's explanations (Part III)

Part I, Line 1a

Valley City State University Foundation established a $10,000 budget for the fiscal year ending June 30, 2023 available to the President of Valley City State University to use for meals, meetings, social events and small projects on campus. $1,099 of the $10,000 budget was utilized for the fiscal year ending June 30, 2024.

Part I, Line 7

Ludvigson Braun & Co. provides tax, accounting and finance services to the Valley City State University Foundation. Ludvigson Braun & Co. is owned 75% by Matthew Pedersen, the Vice-Chairman of the Foundation. For the fiscal year ending June 30, 2024, Ludvigson Braun & Co. received $28,325 for services rendered.