2021-10-07T10:42:29-05:00 2020-12-31 450250958 EIDE BAILLY LLP 200 E 10TH ST STE 500 SIOUX FALLS SD 571046375 990 2020-01-01 460273801 SOUTH DAKOTA STATE UNIVERSITY FOUNDATION SOUT 6056977475 815 MEDARY AVENUE BOX 525 BROOKINGS SD 570061303 TIM DWIRE VP OF OPERATIONS & FINANCE 6056977475 2021-10-07 1 TIM DWIRE 999009999 LAURIE HANSON CPA P00851848 6053391999 2021-10-07 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z STEVE ERPENBACH 815 MEDARY AVENUE BOX 525 BROOKINGS SD 570061303 138319657 0 X WWW.SDSTATEFOUNDATION.ORG X 1945 SD UNITING THE DREAMS OF OUR STUDENTS, UNIVERSITY, AND DONORS TO BUILD A BETTER SDSU. 13 13 47 125 -86864 0 46905198 46392211 2314693 2558549 8055973 5284467 703000 563110 57978864 54798337 20695058 26702551 0 0 3824865 4260061 0 0 3773174 3532130 3341075 28052053 34303687 29926811 20494650 252841362 287960105 31440106 28102947 221401256 259857158 ENHANCING EXCELLENCE BY CULTIVATING GENEROSITY AND TREASURING THE LOYALTY OF ALL WE SERVE. 0 0 26702551 26702551 1950000 TO UNITE THE DREAMS OF OUR STUDENTS, UNIVERSITY, AND DONORS TO BUILD A BETTER SDSU. APPROXIMATELY $7.9 MILLION IN SCHOLARSHIPS WERE AWARDED, $3.18 MILLION IN DEPARTMENTAL PROGRAMS WERE FUNDED, AND $15.07 MILLION IN CAPITAL PROJECTS WERE FUNDED DURING 2020. 26702551 1 1 0 0 0 0 0 0 0 1 1 1 0 1 1 1 0 1 0 0 1 0 0 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 70 0 1 47 1 1 1 0 0 0 1 1 1 1 1 1 0 0 0 0 0 X 13 13 0 0 0 0 1 1 0 1 0 0 0 1 1 1 1 1 1 1 1 1 1 CA FL HI IL KY MA MD MI MN NH NJ NY OR SC UT X TIM DWIRE 6056977475 815 MEDARY AVENUE BOX 525 BROOKINGS SD 570061303 BOB SCHMIDT CHAIR 1.00 X X 0 0 0 RITA EDWARDS CHAIR-ELECT 1.00 X X 0 0 0 MARC MOONEY BOARD MEMBER 1.00 X 0 0 0 JON BROWN BOARD MEMBER 1.00 X 0 0 0 GORDON NIVA BOARD MEMBER 1.00 X 0 0 0 CATHY VANDER WAL-ROUNDS BOARD MEMBER 1.00 X 0 0 0 KEVIN TETZLAFF BOARD MEMBER 1.00 X 0 0 0 MARK WAHLSTROM BOARD MEMBER 1.00 X 0 0 0 DANA DYKHOUSE BOARD MEMBER 1.00 X 0 0 0 TRAVYS HARVEY-KING BOARD MEMBER 1.00 X 0 0 0 MIKE ROBERTS BOARD MEMBER 1.00 X 0 0 0 MICHELLE MCCARVILLE BOARD MEMBER 1.00 X 0 0 0 KATHY WALKER BOARD MEMBER 1.00 X 0 0 0 STEVE ERPENBACH PRESIDENT/CEO 55.00 X 213686 0 48332 TIM DWIRE VP OF OPERATIONS & FINANCE 55.00 X 170513 0 38103 KEITH MAHLUM VP OF DEVELOPMENT 55.00 X 147414 0 51365 MARC LITTLECOTT DIRECTOR OF GIFT PLANNING 55.00 X 132287 0 31572 MICHAEL BIRGEN ASSOC VP FOR DEVELOPMENT 55.00 X 112507 0 17735 RINA REYNOLDS SENIOR DIRECTOR OF MAJOR GIFTS 55.00 X 104510 0 9841 LUCY FORMAN VP FOR DONOR RELATIONS 55.00 X 100613 0 8636 981530 0 205584 7 0 1 0 FIRST BANK & TRUST WEALTH MANAGEMENT PO BOX 5057 BROOKINGS SD 57006 FIDUCIARY FEES 198763 BLACKBAUD PO BOX 930256 ATLANTA GA 311930256 SOFTWARE SUPPORT 157171 BENTZ WHALEY FLESSNER AND ASSOCIATES IN 7251 OHMS LANE MINNEAPOLIS MN 55439 CONSULTING 130506 3 46392211 14072302 46392211 SUPPORT SERVICES 900099 1950000 1950000 INVESTMENT IN SUBSIDIARY 561000 -103151 -86864 -16287 711700 711700 2558549 3595419 3595419 563110 0 563110 563110 563110 82786949 2423419 81067553 2453767 1719396 -30348 1689048 1689048 54798337 2661700 -86864 5831290 26702551 26702551 471551 340313 131238 2991092 1374374 1616718 171072 74140 96932 395781 167460 228321 230565 105700 124865 7612 7092 520 83975 81997 1978 286786 219214 67572 109039 12866 96173 68476 35860 32616 226728 94210 132518 338371 254350 84021 235735 197502 38233 64637 13652 50985 91327 87029 4298 212781 212781 760934 442930 318004 39920 32165 7755 ALUMNI ASSOCIATION EXPE 399553 399553 PROFESSIONAL FUNDRAISIN 132217 132217 RECOGNITION AND MEMORIA 113360 23971 89389 HOSPITALITY 105171 981 104190 64453 49375 15078 34303687 26702551 3827962 3773174 X 10752724 15214275 23018461 16546973 9966927 7531677 124836 189217 26028292 3942951 21776476 22085341 157121625 186729086 16160798 17494245 13919515 22169291 252841362 287960105 3263805 3542214 15211253 12560659 5295887 4688175 7669161 7311899 31440106 28102947 X -11609263 -11915870 233010519 271773028 221401256 259857158 252841362 287960105 X 20494650 17199430 761822 X 0 1 X 1 0 X 40359623 27121006 41101846 46905198 46392211 201879884 40359623 27121006 41101846 46905198 46392211 201879884 22598750 179281134 2939131 2791129 2791129 4387812 4158529 17067730 1220000 1437500 1722500 1900000 2661700 8941700 227889314 0.78670 0.81730 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 175342648 21279600 22198693 7144739 196144 2576956 208903102 141856480 23444485 17902339 5369217 265628 2225811 175342648 142602732 12887239 -5814745 5489251 271131 2058364 141856480 125897148 6880299 16226382 4600070 22662 1778365 142602732 117943260 8259556 6190170 4857078 24748 1614012 125897148 0.00290 0.97230 0.02480 0 0 4911110 1607081 6518191 3110170 11040245 2329858 11820557 4334922 1512885 2822037 923326 101438 100208 924556 22085341 NON-PUBLICLY TRADED PREFERRED STOCK 1374669 F NON-PUBLICLY TRADED PRIVATE EQUITY FUNDS 16119576 F 17494245 TRUSTS HELD BY OTHERS 10370850 LIFE ESTATES 7998402 INVESTMENT IN SUBSIDIARIES 694704 CASH SURRENDER VALUE OF LIFE INSURANCE 544771 BENEFICIAL INTEREST IN PERPETUAL TRUST 1156914 OTHER INVESTMENTS IN ANNUITIES, TRUSTS & ENDOWMENT POOLS 1403650 22169291 INVESTMENTS HELD FOR OTHERS 291006 GIFT ANNUITIES, LIFE INCOME AGREEMENTS, AND LIFE ESTATES 7020893 7311899 X PART V, LINE 4: TO ASSIST IN FULFILLING THE FOUNDATION'S MISSION OF UNITING THE DREAMS OF OUR STUDENTS, UNIVERSITY, AND DONORS TO BUILD A BETTER SDSU, THROUGH SCHOLARSHIPS AND DEPARTMENTAL PROGRAMS. PART X, LINE 2: THE FOUNDATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AFFECTING ITS ANNUAL FILING REQUIREMENTS, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS AT DECEMBER 31, 2020 AND 2019 THAT ARE MATERIAL TO THE CONSOLIDATED FINANCIAL STATEMENTS. FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS AND LIABILITIES WILL BE RECOGNIZED IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENT 5665014 0 0 0 0 0 0 5665014 0 5665014 1 0 0 1 1 0 PART III ACCOUNTING METHOD: SCHEDULE F, PART IV: THE FOUNDATION REVIEWS ITS DIRECT AND INDIRECT INVESTMENTS DURING THE TAX PERIOD FOR DETERMINING REQUIRED FOREIGN FILINGS. THE FOUNDATION MAKES DIRECT AND INDIRECT TRANSFERS TO FOREIGN CORPORATIONS AND FOREIGN PARTNERSHIPS. THE FOUNDATION WOULD FILE FORM 926 OR FORM 8865 IF THE TRANSFERS MET THE REQUIREMENTS FOR FILING. THE FOUNDATION'S TRANSFERS TO FOREIGN CORPORATIONS DID REQUIRE FILING FORM 926. THE FOUNDATION'S TRANSFERS TO FOREIGN PARTNERSHIPS DID NOT REQUIRE FILING FORM 8865. THE FOUNDATION HAS OWNERSHIP INTERESTS IN FOREIGN PARTNERSHIPS. THE FOUNDATION WOULD FILE FORM 8865 IF THE OWNERSHIP MET THE REQUIREMENTS FOR FILING. THE FOUNDATION'S OWNERSHIP IN FOREIGN PARTNERSHIPS DID NOT REQUIRE FILING FORM 8865. THE FOUNDATION INVESTS IN PARTNERSHIPS THAT HOLD DIRECT OR INDIRECT INTERESTS IN PASSIVE FOREIGN INVESTMENT COMPANIES (PFICS). THE FOUNDATION WOULD FILE FORM 8621 FOR UNDERLYING INVESTMENTS THAT GENERATE UNRELATED BUSINESS INCOME. THE FOUNDATION WOULD NOT FILE FORM 8621 WHERE THE INVESTMENT PARTNERSHIPS HAVE PROPERLY FILED FORM 8621, OR WHERE THE UNDERLYING INVESTMENTS DID NOT GENERATE ANY UNRELATED BUSINESS INCOME. THE FOUNDATION DID NOT REQUIRE FILING FORM 8621. 1 SOUTH DAKOTA STATE UNIVERSITY PO BOX 2201 BROOKINGS SD 57007 466000364 GOVERNMENTAL 26168235 GIFTS, GRANTS, SCHOLARSHIPS; SDSU DEPT EXPENSES, BUILDING & EQUIPMENT PURCHASES. SIGMA PHI EPSILON FRATERNITY 1439 7TH ST 2 BROOKINGS SD 57007 454106831 501(C)(7) 500000 EDUCATIONAL SPACE FOR SIGMA PHI EPSILON FRATERNITY JACKRABBIT GOLF CLUB INC 2180 CLUBHOUSE DRIVE BROOKINGS SD 57006 823239554 501(C)(3) 27874 ENDOWED SCHOLARSHIP 2 1 PART I, LINE 2: FUNDS MADE AVAILABLE TO THE SDSU FOUNDATION ARE TYPICALLY RESTRICTED BY THE DONOR FOR SPECIFIC SCHOLARSHIPS AND/OR PROGRAMS. THE FOUNDATION PROVIDES THE SELECTION CRITERIA TO THE SDSU FINANCIAL AID OFFICE, WHO USES THIS TO DETERMINE ELIGIBILITY OF STUDENTS. THE FOUNDATION PROVIDES DONOR-IMPOSED RESTRICTIONS ON PROGRAM FUNDS TO THE DEPARTMENT HEADS AND LEADERSHIP OF SOUTH DAKOTA STATE UNIVERSITY. REQUESTS ARE MONITORED BY THE FOUNDATION FOR PROPER AUTHORIZATION AND UTILIZATION. OTHER ORGANIZATIONS THAT ARE RECIPIENTS OF GRANTS FROM SDSU FOUNDATION ARE REQUIRED TO PROVIDE COPIES OF THEIR 501(C)(3) IRS DETERMINATION LETTER. IF AN ORGANIZATION IS NOT A 501(C)(3) ORGANIZATION, REPORTS AND OTHER COMMUNICATIONS ARE REQUESTED TO CONFIRM THE FUNDS WERE USED FOR CHARITABLE PURPOSES AS INTENDED BY THE DONORS. SCHEDULE I PART II DISBURSEMENTS TO SOUTH DAKOTA STATE UNIVERSITY INCLUDED THE FOLLOWING: $7,911,488 FOR GIFTS, GRANTS AND SCHOLARSHIPS; $18,256,747 FOR DEPARTMENTAL EXPENSES, BUILDING AND EQUIPMENT PURCHASES. X X X X 0 0 0 0 0 0 0 0 0 STEVE ERPENBACH PRESIDENT/CEO 213686 0 0 0 0 0 13844 0 34946 0 262476 0 0 0 TIM DWIRE VP OF OPERATIONS & FINANCE 169513 0 1000 0 0 0 10834 0 27727 0 209074 0 0 0 KEITH MAHLUM VP OF DEVELOPMENT 147414 0 0 0 0 0 9820 0 42003 0 199237 0 0 0 MARC LITTLECOTT DIRECTOR OF GIFT PLANNING 132287 0 0 0 0 0 8299 0 23696 0 164282 0 0 0 A CITY OF BROOKINGS 466000069 2017-12-22 9700000 BUILDING PROJECTS ON THE SDSU CAMPUS IN BROOKINGS, SD. 0 0 0 B BROOKINGS COUNTY 466000070 2017-12-01 10000000 BUILDING PROJECTS ON THE SDSU CAMPUS IN BROOKINGS, SD. 0 0 0 A 3363719 9700000 50000 9650000 2018 0 0 1 1 B 3775622 10000000 50000 9950000 2018 0 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 0 0 0 0 0 1 B 0 0 0 0 0 0 0 0 1 A 1 B 1 X 91 1601638 AVG HIGH/LOW DOT X 41 2999110 FMV X 1 157000 APPRAISAL X 3 9143000 APPRAISAL X LIVESTOCK/GRAIN 15 148598 SELLING PRICE X OTHER 8 22956 FMV 2 0 1 1 PART I, COLUMN (B): COLUMN B REPRESENTS THE NUMBER OF ITEMS CONTRIBUTED. PART I, LINE 32B: AUCTION AND REALTOR SERVICES FOR LAND GIFTS FORM 990, PART VI, SECTION A, LINE 6 TRUSTEES OF THE FOUNDATION WILL CONSTITUTE THE MEMBERSHIP OF THE CORPORATION. THE COUNCIL OF TRUSTEES SHALL CONSIST OF NO MORE THAN 150 MEMBERS, ALTHOUGH THAT NUMBER MAY BE MODIFIED AT ANY TIME BY MAJORITY VOTE OF THE TRUSTEES. TRUSTEES SHALL BE ELECTED BY THE COUNCIL OF TRUSTEES DURING THE SPRING MEETING TO SERVE THREE YEAR TERMS. THERE ARE NO TERM LIMITS. TRUSTEES SHALL BEGIN THEIR TERM OF OFFICE ON JANUARY 1 FOLLOWING ELECTION. FORM 990, PART VI, SECTION A, LINE 7A THE BUSINESS AND AFFAIRS OF THE CORPORATION SHALL BE EXERCISED BY A BOARD OF GOVERNORS WHICH IS ELECTED BY THE COUNCIL OF TRUSTEES. FORM 990, PART VI, SECTION A, LINE 8B COMMITTEES KEEP MINUTES OF THEIR MEETINGS, ALTHOUGH THERE IS NO COMMITTEE THAT HAS BROAD AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE FOUNDATION'S FINANCE OFFICE REVIEWS THE 990 IN DETAIL, AND QUESTIONS ARE RESOLVED WITH THE GOVERNING BODY. THE ENTIRE 990 WAS PROVIDED TO THE BOARD OF GOVERNORS PRIOR FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY COVERS OFFICERS, DIRECTORS OR TRUSTEES. A REQUEST IS MADE ANNUALLY FOR ALL OFFICERS, DIRECTORS OR TRUSTEES TO DISCLOSE ANY POTENTIAL CONFLICT OF INTEREST. THE BOARD MAKES A DETERMINATION OF WHETHER THERE IS A CONFLICT OF INTEREST AND IF SO, IMPLEMENTS THE PROCEDURE FOR EVALUATING THE ISSUE OR TRANSACTION INVOLVED. THE OFFICER, DIRECTOR OR TRUSTEE WITH THE CONFLICT MUST REFRAIN FROM VOTING. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS FOR DETERMINING COMPENSATION INCLUDES THE USE OF SUB-COMMITTEES, COMPENSATION STUDIES, AND JOB DESCRIPTIONS. THIS PROCESS IS UNDERTAKEN ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 THE DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART X, LINE 27 SUPPORT FOR VARIOUS SDSU SCHOLARSHIPS AS WELL AS PROGRAMS AND CAPITAL PROJECTS IN EXCESS OF GIFTS, INCLUDING PROMISES TO GIVE, TOTALED APPROXIMATELY $18,980,000 AND $17,426,000 AS OF DECEMBER 31, 2020 AND 2019, RESPECTIVELY. THE CUMULATIVE DEFICIENCY IS REPORTED IN NET ASSETS WITHOUT DONOR RESTRICTIONS, WHICH TOTAL ($11,915,870) AND ($11,609,263) AS OF DECEMBER 31, 2020 AND 2019, RESPECTIVELY. THERE ARE CERTAIN PROMISES TO FUND VARIOUS SDSU CAPITAL PROJECTS WHICH ARE RESTRICTED BY SPECIFIC CRITERIA DESIGNATED BY THE DONOR WHICH HAVE NOT YET BEEN RECOGNIZED. AS OF DECEMBER 31, 2020, THE FOUNDATION HAS RECEIVED $10,960,000 IN CONDITIONAL PROMISES TO GIVE RELATED TO DEFICIENT PROJECTS. THE FOUNDATION PLANS TO RECOVER THE REMAINING NET ASSETS WITHOUT DONOR RESTRICTIONS DEFICIT WITH FUTURE GIFTS. NET ASSETS WITHOUT DONOR RESTRICTIONS ALSO INCLUDE A BOARD-DESIGNATED ENDOWMENT OF $599,347 AND $315,409 AS OF DECEMBER 31, 2020 AND 2019. FORM 990, PART XI, LINE 9: CHANGE IN SPLIT INTEREST AGREEMENTS 761,822. MEDARY AVIATION LLC 815 MEDARY AVENUE BROOKINGS SD 57006 AIRPLANE LEASING SD -124975 1875839 SDSU FOUNDATION MISSION HILLS PLAZA 2420 ENTERPRISE ROAD SUITE 105 CLEARWATER FL 33763 593110740 RENTAL ACTIVITY FL SOUTH DAKOTA STATE UNIVERSITY FOUNDATION EXCLUDED 14131 95559 0 1 0.50000 MIGHTY FLY SD INC 110 S PHILLIPS AVE SUITE 200 SIOUX FALLS SD 57104 411931279 LEASING OF AIRPLANES TO SDSU SD SDSU FOUNDATION C 94165 694703 1.00000 1 CHARITABLE REMAINDER TRUSTS (33) CHARITABLE REMAINDER TRUST SD N/A T 1 POOLED INCOME FUND (2) POOLED INCOME FUND SD N/A T 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 MIGHTY FLY F 94165 FMV CHARITABLE REMAINDER TRUSTS (3) S 297072 FMV