2015-11-16T16:09:19-06:00 2014-12-31 450250958 EIDE BAILLY LLP 4310 17TH AVE S PO BOX 2545 FARGO ND 581082545 990 2014-01-01 237120898 North Dakota State University Development Foundation NORT 7012316800 1241 N University Drive Fargo ND 58102 Allyson Peterson VP Of Finance/CFO 7012316800 2015-11-16 1 LISA CHAFFEE CPA P00193453 7012398500 2015-11-16 2014 2016-02-25 16:41:14Z NDSU Development FoundationAlumni Association John R Glover 1241 N University Drive Fargo ND 58102 62369784 0 X www.ndsufoundation.com X 1971 ND To advance education, research, and service at North Dakota State University; to work with faculty, staff, students, alumni, business and the community to represent common interests; to raise funds, manage assets and administer resources to stimulate continued development at the University. 61 61 96 345 102241 41110 15288493 39910767 423181 597465 19627071 1186992 3849545 -77959 39188290 41617265 8347781 17432171 0 0 2735152 2717955 0 112847 1300814 1606612 1693658 12689545 21956631 26498745 19660634 226438703 247939444 29963450 28816622 196475253 219122822 X The North Dakota State University Development Foundation creates opportunities to advance education, research, and service at NDSU. We work in close collaboration with faculty, staff, students and alumni, along with business, industry and the community to best understand and represent common interests. With the needs of the entire University in mind, we efficiently and effectively raise funds, manage assets and administer other privately funded resources to stimulate continued development at NDSU. 0 0 14435071 14435071 Grants to NDSU for buildings, equipment, research, lectures, faculty development, supplies, travel and other departmental needs and activities not funded through state appropriations or student tuition fees. 2997100 2997100 Scholarships and awards to students enrolled at North Dakota State University selected by independent scholarship committees. 745771 621416 Alumni records, newsletters and special events such as Homecoming, city alumni/student exchanges. Sponsor University programs such as Harvest Bowl and Celebration of Excellence. 18177942 1 1 0 1 0 0 0 1 1 1 1 0 0 0 1 1 0 1 0 0 1 0 0 1 1 0 0 1 0 1 1 0 0 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 1 99 0 1 96 1 1 1 0 0 0 0 1 1 0 0 0 0 X 61 61 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 MN X X Allyson Peterson VP FinanceCFO 7012316820 1241 University Drive N Fargo ND 58102 Ryn Pitts Chair of the Board 10.00 X X 0 0 0 Jonal Uglem Past Chair of the Board 2.00 X X 0 0 0 John S Wold Vice Chair 2.00 X X 0 0 0 Steven J Swiontek Treasurer 3.00 X X 0 0 0 Robert E Challey Secretary 7.00 X X 0 0 0 Sue Andrews Trustee 0.50 X 0 0 0 Julie Barner Trustee 1.00 X 0 0 0 Sally Berrell Trustee 0.50 X 0 0 0 Dr Dean Bresciani Trustee 0.50 X 0 0 0 Barbara Burgum Trustee 0.50 X 0 0 0 Julie Burgum Trustee 1.00 X 0 0 0 Paul Cossette Trustee 2.00 X 0 0 0 Terrence C Dahl Trustee 0.50 X 0 0 0 Spencer Duin Trustee 0.50 X 0 0 0 Dave Ekman Trustee 0.50 X 0 0 0 Larry Ellingson Trustee 1.00 X 0 0 0 Jane Bale Emison Trustee (through 7/1/14) 0.50 X 0 0 0 Richard J Erickson Trustee 0.50 X 0 0 0 Susan Freeman Trustee (through 7/1/14) 0.50 X 0 0 0 JoAnn Garaas Skabo Trustee 1.00 X 0 0 0 Dr David J Glatt Trustee 0.50 X 0 0 0 Kristi Hanson Trustee 1.00 X 0 0 0 Michael E Hanson Trustee 1.00 X 0 0 0 Terry J Hanson Trustee 0.50 X 0 0 0 Robert Heller Trustee 2.00 X 0 0 0 Paul Horn Trustee 1.00 X 0 0 0 James R Howe Trustee 1.00 X 0 0 0 Frank Jennings Trustee 0.50 X 0 0 0 Nancy Johnson Trustee 0.50 X 0 0 0 Barbara Jones Trustee 0.50 X 0 0 0 Nancy Johnson Jordheim Trustee 1.00 X 0 0 0 John R Klai II Trustee 2.00 X 0 0 0 Terrance Kristensen Trustee 1.00 X 0 0 0 Michael Krueger Trustee 1.00 X 0 0 0 Russel J Kuzel Trustee 1.00 X 0 0 0 Robert C Lauf Trustee 1.00 X 0 0 0 Robert Lervick Trustee 2.00 X 0 0 0 Brady Lipp Trustee 0.50 X 0 0 0 Thomas E Lundeen Trustee 0.50 X 0 0 0 David S Maring Trustee 1.00 X 0 0 0 Richard Marsden Trustee 0.50 X 0 0 0 Dr James Meier Trustee 2.00 X 0 0 0 Franklin D Meyers Trustee 1.00 X 0 0 0 Dr Larry Milsow Trustee (through 7/1/14) 0.50 X 0 0 0 Dr Robert C Montgomery Trustee 1.00 X 0 0 0 Connie Nicholas Trustee 2.00 X 0 0 0 David Olig Trustee 1.00 X 0 0 0 Ronald G Olson Trustee 0.50 X 0 0 0 John Q Paulsen Trustee 3.00 X 0 0 0 Gary Paulsrud Trustee 1.00 X 0 0 0 Keith Peltier Trustee 3.00 X 0 0 0 Jan Promersberger Trustee 1.00 X 0 0 0 James Roers Trustee 0.50 X 0 0 0 Eileen Scheel Trustee 0.50 X 0 0 0 Mary Lou Shott Trustee (through 7/1/14) 4.00 X 0 0 0 Kenneth Skuza Trustee 1.00 X 0 0 0 Terry Stroh Trustee 0.50 X 0 0 0 Charles Ulmer Trustee 2.00 X 0 0 0 Jeffry Volk Trustee 2.00 X 0 0 0 Mark D Walstead Trustee 0.50 X 0 0 0 Mary Zweber Trustee 0.50 X 0 0 0 Barry Batcheller Trustee 0.50 X 0 0 0 Carol Goodman Trustee 0.50 X 0 0 0 Phil Hansen Trustee 0.50 X 0 0 0 Matthew Vettel Trustee 0.50 X 0 0 0 Douglas P Mayo President & CEO 50.00 X 198097 0 37188 Carol Gustad CFO (through 11/31/14) 50.00 X 101513 0 26357 Allyson Peterson CFO (Beginning 12/1/14) 50.00 X 67932 0 27163 Sherri Schmidt Sr Director of Engagement 50.00 X 124403 0 31274 491945 0 121982 3 0 1 0 Commonfund PO Box 5493 Boston MA 02206 Investment Fees 142036 Ruffalo Noel Levitz PO BOX 718 Des Moines IA 50303 Call Center Operations 112847 2 297067 39613700 5106259 39910767 Alumni Records Fees 611710 433165 433165 Program Event Revenue 611710 103899 103899 Miscellaneous Income 900099 38751 38751 Football Championship Game 900099 21650 21650 597465 2185664 40883 2144781 214479 214479 2650261 3014846 -364585 -364585 -364585 15961362 460120 14823814 2596340 1137548 -2136220 -998672 -998672 303402 297067 316564 -13162 -13162 24899 955 23944 23951 -7 Alumni Travel 561500 47558 47558 Alumni Insurance, Net 524298 7307 7307 Advertising 900099 6500 6500 61365 41617265 621416 102241 982841 17432171 17432171 362805 58569 245667 58569 1642422 315760 701412 625250 123759 24468 58895 40396 447003 89069 210617 147317 141966 26668 65014 50284 72346 72346 45180 45180 112847 112847 142589 142589 14678 750 13928 94283 9935 25485 58863 229203 30625 167509 31069 152790 220 97283 55287 194060 194060 123357 31719 47403 44235 72985 5636 54224 13125 34174 34174 150682 150682 35970 35970 Income Taxes 1614 1614 Event Expense 173305 100294 35999 37012 Public Relations/Donor 106595 51609 35677 19309 Miscellaneous 29531 9 25621 3901 20316 440 16526 3350 21956631 18177942 2477875 1300814 22912977 25741717 22796314 40207461 442759 124462 8 1193463 1098297 59571 47881 155606 85232 57266344 16569775 45011220 40696569 122264290 126895418 10576258 12059010 1026237 983397 226438703 247939444 854642 1030363 1698012 1744105 6500 43463 18829374 17915737 256313 399741 913951 631235 7404658 7051978 29963450 28816622 X 38261085 36043242 59938114 51835434 98276054 131244146 196475253 219122822 226438703 247939444 X 19660634 3403656 -416721 X 0 1 X 1 0 X 28508432 14028816 16530113 15288493 39910767 114266621 28508432 14028816 16530113 15288493 39910767 114266621 24731724 89534897 5051132 2493783 5431512 10759174 5050404 28786005 3576 10269 45315 59160 143111786 3106754 0.62560 0.54480 X Schedule A, Part II, Section A and Section B, Column (b): Amounts reported in Schedule A, Part II, Section A and Section B, Column (b) are for the short period of 7/1/11 through 12/31/11. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 0 0 0 0 0 0 0 0 0 0 Part II-B, Line 1: Our board members have had conversations with state legislators to educate them on the difference in the funding of higher education institutions. 85447 X 0 0 1 X 121989430 14991952 6291966 2362106 867726 2033279 138010237 109538221 6401027 16211546 2390330 5933315 1837719 121989430 96182964 7529241 10535512 2212956 804363 1692177 109538221 103467572 3370336 -8114756 1161484 356415 1022289 96182964 87877963 3905661 16391111 1793683 947921 1965559 103467572 0.09750 0.76220 0.14030 0 0 1143957 1282777 2426734 5850822 42397409 12172305 36075926 3476515 2277269 1199246 2231677 1914968 316709 883187 205233 677954 40696569 Gift Annuities Payable 3010380 Trusts Payable 3973801 Due To Fossum 45264 Special Assessments Payable 18763 Prepaid Rent 3437 Other liabilities 333 7051978 X Part III, Line 4: Bronze statue and wall hanging, depicting the bison mascot and symbol of NDSU. Items are on public display to promote the University. Part IV, Line 2b: Cash and cash equivalents held for others consist of funds held and invested for various organizations. Investments held for others represent the portion of charitable remainder unitrusts for which the Foundation holds the assets, but is not the beneficiary. Part V, Line 4: The endowment funds held by North Dakota State University Development Foundation have been established to follow donors' wishes to provide an ongoing reliable source of funding to North Dakota State University for student scholarships, faculty support, departmental support and organization operations. Part X, Line 2: The Foundation is a publicly supported organization under Internal Revenue Code Section 501(c)(3), and is classified as an organization which is not a private foundation. Accordingly the Foundation is not subject to federal income taxes. In addition, the Foundation is subject to income tax on net income that is derived from business activities that are unrelated to its exempt purposes. 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 that are material to the financial statements. The Foundation would recognize future accrued interest and penalties related to unrecognized tax benefits and liabilities in income tax expense if such interest and penalties are incurred. The Foundation's Form 990-T and other income tax filings required by the state of North Dakota are no longer subject to tax examination for years before 2011. Central America and the Caribbean - Investments 29361316 0 0 0 0 0 0 29361316 0 29361316 1 0 1 1 0 0 X 1 Ruffalo Noel Levitz 1025 Kirkwood Parkway SW Cedar Rapids IA 52404 Student Telemarketing 0 172973 112847 60126 172973 112847 60126 MN BBB Auction 406781 241022 165759 165759 41698 BBB Dinner 109750 0 109750 3532 60704 7197 2 83938 56045 27893 11227 4033 11500 1673 9241 600469 297067 303402 176986 7565 72204 1673 58136 316564 -13162 1 North Dakota State University 1340 Administration Ave Fargo ND 58102 456002439 NDSU 17432171 Cash grants provided for student scholarships, faculty support, departmental support for equipment, research, supplies, travel, etc. 1 0 Part I, Line 2: Grants are paid to or at the direction of North Dakota State University for scholarships, departmental expenses, grants, and buildings and equipment. We provide grants in accordance with applicable donor restrictions. The use of these grant funds are monitored throughout the year through the Request of Payment process and scholarship process. In addition, we rely on the University to monitor appropriate use of funds. X 1 1 X X X 0 0 0 0 0 0 0 0 0 Douglas P Mayo President & CEO 196333 0 0 0 1764 0 18652 0 19291 0 236040 0 0 0 Sherri Schmidt Sr Director of Engagement 110581 0 0 0 13822 0 10734 0 21492 0 156629 0 0 0 Part I, Line 1a Country Club membership is provided to the President/CEO for fundraising. The personal use of this membership is treated as taxable compensation. A Cass County ND 456002205 2005-12-20 3500000 Finance Construction & Equipment of Offices 0 0 0 B North Dakota State University Development Foundation 237120898 2008-09-15 900000 Finance Construction, University President Home 0 1 0 C North Dakota State University Development Foundation 237120898 2010-12-17 5650000 Payment of loan incurred for renovation of bldg for classrooms and offices 0 1 0 D City of Fargo ND 456002069 307522BC5 2012-05-23 12145894 To refund bonds issued 11/29/2007 0 0 0 A 1791549 3500000 18500 3481500 2007 0 0 1 1 B 107714 900000 900000 2009 0 0 1 1 C 750000 5650000 31489 5618511 2010 0 0 1 1 D 1630894 12145894 162239 11983655 2012 1 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 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 D 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 C 0 0 0 0 0 0 0 0 1 D 0 0 0 0 0 0 0 0 1 A 1 B 1 C 1 D 1 Date Rebate Computation Performed Issuer Name: Cass County, ND Date the Rebate Computation was Performed: 11/30/2007 Issuer Name: North Dakota State University Development Foundation Date the Rebate Computation was Performed: 10/01/2009 X 3 35621 FMV X 116015 FMV X 85 4866662 Average High/Low X 1 49944 Appraised Value X Grain 1 38017 FMV 2 0 1 0 Form 990, Part VI, Section A, line 1 The Organization's Executive Committee consists of 14 members including five trustee officers of the Organization and nine other trustees. The President of North Dakota State University, the President and CEO of the Development Foundation, and the Chair of the Board and Vice Chair of the NDSU Alumni Association Board of Directors shall serve as ex-officio, non-voting members. During the interval between semi-annual meetings of the board of trustees, the Executive Committee has the authority to act on behalf of the board on any matter other than election of trustees or revision of the Organization's bylaws. Form 990, Part VI, Section A, line 2 Robert E. Challey and James Roers have a business relationship. Julie Burgum and Barbara Burgum have a family relationship. Paul Cossette and Dave Ekman have a business relationship. Form 990, Part VI, Section B, line 11 The Form 990 was reviewed by the Audit Committee before filing. After filing the Form 990, the Public Disclosure copy will be sent to all trustees. Form 990, Part VI, Section B, line 12c Foundation officers, trustees, and staff are required to report any potential conflicts of interest to the Chair of the Foundation Board, and the Foundation's Chief Staff Officer for review and possible remedial action. Such action may include holding the information on file, informing the board of the appearance of a conflict of interest, or requiring the trustee to either cease and desist the activity or to relinquish Foundation trusteeship. Form 990, Part VI, Section B, line 15a The process for determining compensation for the President and CEO is the responsibility of the Organization's seven member Compensation Committee. Five of the members are independent trustees and two are independent directors of the NDSU Alumni Association. The committee annually reviews mutually determined goals and objectives of the incumbent. Salary adjustments are based on a review of similar positions at 19 peer institutions, as determined by the ND State Board of Higher Education. In making salary recommendations, the committee takes advantage of information compiled annually by the College and University Personnel Association (CUPA) for those peer institutions. In turn, the President and CEO evaluates four direct reports using mutually agreed to goals and objectives for each person. The CUPA report is used for salary comparisons for similar positions at peer institutions. The President and CEO's recommendation on salary is forwarded to the Committee for review. As part of the annual budget, all salaries are then approved, in turn, by the Finance Committee and the Executive Committee. Form 990, Part VI, Section C, line 19 The Organization's governing documents, conflict of interest policy and financial statements are available upon request. In addition, the most recent audited financial statements are available on our website. Form 990, Part XI, line 9: Tax Income from K-1's Change in Split Interest Agreements -515,463. Fossum Transfer 98,742. NDSU Alumni Association 1241 University Dr N Fargo ND 58102 450173089 Alumni Relations ND 501(c)(3) Line 5 N/A 0 Fossum Foundation Inc 1241 University Dr N Fargo ND 58102 456013302 Supporting Organization ND 501(c)(3) Line 11a, I North Dakota State University Development Foundation 1 Charitable Remainder Unitrusts (29) Charitable Trust ND N/A T 1 Charitable Remainder Annuity Trust (1) Charitable Trust ND N/A T 1 Perpetual Trust (1) Charitable Trust MN N/A T 1 0 0 0 0 1 0 0 0 0 0 0 1 0 0 0 0 1 0 1 Fossum Foundation Inc S 100000 General Ledger Form 990, Schedule R, Part II The NDSU Alumni Association's relationship is such that all activity is consolidated with the filing Organization.