2016-11-22T09:59:22-06:00 2016-06-30 450250958 EIDE BAILLY LLP 1730 BRUNT BOAT LOOP STE100 BISMARCK ND 585030886 990 2015-07-01 450358929 Bismarck State College Foundation BISM 7012245700 PO Box 5587 Bismarck ND 585065587 Kari Knudson Executive Director 7012245700 2016-11-21 1 Lisa Chaffee CPA P00193453 7012551091 2016-11-21 2015 2017-02-10 21:41:12Z Kari Knudson PO Box 5587 Bismarck ND 585065587 4986851 0 X WWW.bismarckstate.edu/foundation/ X 1979 ND Engage in those activities which support the development of Bismarck State College. 74 73 0 100 104545 90388 4754650 3149541 25269 20269 836822 -199942 764137 528872 6380878 3498740 2217362 1198112 0 0 137577 175808 0 0 116937 944707 957468 3299646 2331388 3081232 1167352 41613198 45464252 13615600 16373129 27997598 29091123 X Engage in those activities which support and assist in the development and advancement of Bismarck State College. 1 0 1097653 534751 20269 The BSC Foundation Grant Program makes dollars available to BSC staff, faculty, and student organizations to fund a wide variety of projects. Emphasis is given to innovative teaching and creative learning projects. A wide variety of teaching and demonstration equipment, travel for groups, campus presenters, performing art events, guest lecturers, consulting services, research, and other innovative projects have been supported through the Grants Program. Grants are awarded by the Board of Trustees Programs Committee. 587397 587397 The BSC Foundation is committed to the encouragement and support of academic excellence. Through the support of many generous benefactors, the BSC Foundation is able to budget more than $600,000 in scholarship awards to over 423 students. Scholarships are available to both incoming freshmen and sophomores. Receiving other scholarships will not disqualify applicants from receiving BSC Foundation scholarships.The BSC Foundation scholarship program was established for the purpose of attracting and retaining students of outstanding ability and potential, regardless of gender, race, creed or national origin. Scholarships are awarded by the Board of Trustees Programs Committee. 43464 43464 Student RecognitionWho's Who Among Students in American Junior Colleges is a national award given to up to 20 of BSC's top students. These students are selected by Learning First sub-team on a basis of academic achievement, service in the community, leadership in extracurricular activities, and future potential. They are listed in a national Who's Who volume and are honored with a certificate and $100 cash award from the BSC Foundation.Outstanding Student Awards are given to the students selected by faculty in each of BSC's programs and departments. These outstanding students receive a certificate and $100 cash award from BSC Foundation.Phi Theta Kappa is an international two-year college honor society. Students nominated for membership have maintained an accumulative grade point average of 3.5 or better, and have completed 15 semester hours in residence at BSC applicable to an associate degree. The Phi Theta Kappan receives a paid initiation fee for membership, a pin, and a certificate from the BSC Foundation. They are honored at the BSC Recognition Ceremony with a certificate from the BSC Foundation.Employee RecognitionYears of Service: To acknowledge the contributions BSC faculty and staff make to the excellence of education, the Foundation sponsors a recognition program for employees. Employees are awarded gift cards and certificates beginning with five years of service, and are honored with each five-year increment.BSC Faculty and Staff Awards for Excellence: Previously known as the Faculty and Staff Achievement Awards, this Foundation-sponsored program has been revamped to ensure that everyone has an equal opportunity to be recognized, through this prestigious award, for their outstanding contributions to Bismarck State College.To publicly recognize the Award for Excellence recipients, they are announced at BSC's award ceremony in the spring. As before, two faculty award recipients will each receive $1,000 and two staff award recipients will each receive $1,000. Since 2001, an adjunct faculty and a part-time staff member are recognized and each receives a $250 award. 32500 32500 Jack FellowshipThe BSC Jack Fellowship Program has been established to fund sabbatical leaves for a Bismarck State College employee to engage in an educational experience that ultimately benefits BSC and the students it serves. The Fellowship is intended to partially underwrite the salary and/or expenses of the employee during the sabbatical. Each Fellowship will be a monetary award of up to $25,000 to be used to enhance the recipient's professional performance. During the year there was one recipients of the Jack Fellowship. 32500 32500 1761014 1 1 0 1 0 0 0 1 0 1 1 0 0 0 1 1 0 1 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 1 9 0 1 0 1 1 0 0 0 0 1 1 0 0 0 0 X 74 73 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 X Kari Knudson 7012245697 PO Box 5587 Bismarck ND 585065587 Paul Sandness Chair 1.00 X X 0 0 0 Paul Bakkum President 1.00 X X 0 0 0 Debra Gallagher Vice President 1.00 X X 0 0 0 Wade Boeshans Program Committee Chair 1.00 X 0 0 0 Marlin Kling Development Committee Chai 1.00 X 0 0 0 Tim Atkinson Finance Committee Chair 1.00 X 0 0 0 John Bettger Board Member (resigned 11/2015) 1.00 X 0 0 0 Brad Ballweber Board Member 1.00 X 0 0 0 Jay Beyer Board Member 1.00 X 0 0 0 Janeanne Bischke Board Member (resigned 11/2015) 1.00 X 0 0 0 Kent Blickensderfer Board Member (resigned 9/2015) 1.00 X 0 0 0 Scott Boehm Board Member 1.00 X 0 0 0 Michael Schmitz Board Member (resigned 12/2015) 1.00 X 0 0 0 Jim Christianson Board Member 1.00 X 0 0 0 Cindy Clairmont-Schmidt Board Member 1.00 X 0 0 0 Norm Clark Board Member 1.00 X 0 0 0 Jordis Conrad Board Member 1.00 X 0 0 0 Terry Daffinrud Board Member 1.00 X 0 0 0 Carroll Dewing Board Member 1.00 X 0 0 0 Dan Dorfschmidt Board Member 1.00 X 0 0 0 Vern Dosch Board Member 1.00 X 0 0 0 Bryan Dvirnak Board Member 1.00 X 0 0 0 Wendy Feeney Board Member 1.00 X 0 0 0 Dave Froelich Board Member 1.00 X 0 0 0 John Giese Board Member 1.00 X 0 0 0 Kevin Gilchrist Board Member 1.00 X 0 0 0 Mike Haider Board Member 1.00 X 0 0 0 Dave Goodin Board Member 1.00 X 0 0 0 Dick Hedahl Board Member 1.00 X 0 0 0 Renae Hansen Board Member 1.00 X 0 0 0 Tim Hennessy Board Member 1.00 X 0 0 0 Dave Hoekstra Board Member 1.00 X 0 0 0 Michael Hummel Board Member (resigned 12/2015) 1.00 X 0 0 0 Niles Hushka Board Member 1.00 X 0 0 0 John Jessen Board Member 1.00 X 0 0 0 Dr Aaron Johnson Board Member 1.00 X 0 0 0 Jennifer Klesalek Board Member 1.00 X 0 0 0 Rob Koppinger Board Member 1.00 X 0 0 0 Loren Kopseng Board Member 1.00 X 0 0 0 Jay Kost Board Member 1.00 X 0 0 0 David Ludwig Board Member 1.00 X 0 0 0 Howard Malloy Board Member 1.00 X 0 0 0 Dorothy Mariner Board Member 1.00 X 0 0 0 Dale Pahlke Board Member 1.00 X 0 0 0 Judy Pfeifle Board Member 1.00 X 0 0 0 Ken Reno Board Member 1.00 X 0 0 0 Scott Russell Board Member 1.00 X 0 0 0 Erik Sakariassen Board Member 1.00 X 0 0 0 Dave Sauer Board Member 1.00 X 0 0 0 Jerry Schlosser Board Member 1.00 X 0 0 0 Pamela Schmidt Board Member 1.00 X 0 0 0 Jerry Splonskowski Board Member 1.00 X 0 0 0 Kevin Strege Board Member 1.00 X 0 0 0 Karen Summers Board Member (resigned 8/2015) 1.00 X 0 0 0 Mary Theel Board Member 1.00 X 0 0 0 Allan Thomas Board Member 1.00 X 0 0 0 Bill Townsend Board Member 1.00 X 0 0 0 Irene Tschider Board Member 1.00 X 0 0 0 Stacy Tschider Board Member 1.00 X 0 0 0 Chad Wachter Board Member 1.00 X 0 0 0 Curt Walth Board Member 1.00 X 0 0 0 Pat Ward Board Member 1.00 X 0 0 0 Schelia Schafer Board Member (Through 3/2016) 1.00 X 0 0 0 Tricia Arenz Board Member 1.00 X 0 0 0 Scott Becker Board Member 1.00 X 0 0 0 Jonus Elston Board Member 1.00 X 0 0 0 Russ Hanson Board Member 1.00 X 0 0 0 Jerry Hauff Board Member 1.00 X 0 0 0 Bryce Hill Board Member 1.00 X 0 0 0 Gary Miller Board Member (resigned 6/2016) 1.00 X 0 0 0 Gary Schumacher Board Member 1.00 X 0 0 0 Karen Erickson Board Member (resigned 9/2015) 1.00 X 0 0 0 Ben Johnson Board Member 1.00 X 0 0 0 Tim Karsky Board Member 1.00 X 0 0 0 Brian Kroshus Board Member 1.00 X 0 0 0 Angie Milakovic Board Member (resigned 9/2015) 1.00 X 0 0 0 John Weeda Board Member 1.00 X 0 0 0 Scott Wegner Board Member 1.00 X 0 0 0 Tony Welder Board Member 1.00 X 0 0 0 Jon Hunke Board Member 1.00 X 0 0 0 Jason Vollmer Board Member 1.00 X 0 0 0 Richard Keller Board Member 1.00 X 0 0 0 Cindy Drengson Board Member 1.00 X 0 0 0 Dave Farnsworth Board Member 1.00 X 0 0 0 David Mason Board Member 1.00 X 0 0 0 Joseph Vuolo Board Member 1.00 X 0 0 0 Marcie Woehl Board Member 1.00 X 0 0 0 Michael Thomas Board Member 1.00 X 0 0 0 Tamara Barber NV Fiscal officer 1.00 X 0 0 0 Dave Clark NV Secretary-Treasurer 1.00 X 0 0 0 Larry Skogen NV President of Bismarck State College 1.00 X 0 0 0 Kari Knudson NV Executive Director 40.00 X 0 0 0 Gordon Binek NV Executive Director 40.00 X 143821 0 31730 143821 0 31730 1 0 0 1 Professional Contractors Inc 1131 Airport Road Bismarck ND 58504 Construction of residence halls 3630654 Knife River PO Box 1334 St Cloud MN 56302 Parking lot construction 165892 2 25558 3123983 726335 3149541 Other Revenue 900099 20269 20269 20269 325773 325773 176101 176101 719268 384664 334604 334604 101679 232925 565360 1079516 11559 -514156 -11559 -525715 -8461 -517254 15065 25558 12372 2693 2693 Propery Management Revenue 531310 15474 11327 4147 15474 3498740 20269 104545 224385 534751 534751 663361 663361 35658 35658 140150 140150 20010 20010 92345 92345 15835 15835 55335 42 55293 6513 6513 1066 1066 15135 142 14993 153996 75253 78743 429213 429213 22793 7109 15684 General Fundraising Cam 81279 81279 Development 24402 24402 Income Tax Expense 20887 20887 Dues & Subscriptions 2636 2636 16023 5854 10169 2331388 1761014 453437 116937 535733 718308 1059532 1452805 25515 116396 1643757 1490417 54971 58392 25683485 2799590 20407039 22883895 15723875 16787068 173358 178991 1989418 1777980 41613198 45464252 1847205 1329577 14775 2842533 6607763 5243674 4898140 3682188 3522874 13615600 16373129 X 10032397 8432227 469870 750968 17495331 19907928 27997598 29091123 41613198 45464252 X 1167352 -45670 -28157 X 0 1 X 1 0 X 1198258 1751998 2145215 4754650 3149541 12999662 1198258 1751998 2145215 4754650 3149541 12999662 2519290 10480372 536347 431958 597251 813887 1123610 3503053 83151 90388 173539 16676254 242323 0.62850 0.57170 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 1 2500 0 0 0 2500 0 Part II-B, Line 1: Donation to Charitable IRA Initiative for making the IRA charitable rollover permanent at a federal level. 52265 X Study of Art Appreciation 0 15087730 2483457 -45974 1227499 16297714 12594203 2975007 585851 1067331 15087730 10300616 1437391 2295831 1439635 12594203 8927380 926659 1390372 943795 10300616 12898073 442754 -393974 945222 12001631 0.98300 0.01700 0 0 193662 1322003 1515665 23543639 2562709 20980930 211363 170113 41250 412818 66768 346050 22883895 Unitrust Payments Due Grantors 3302511 Unitrust Remainder Due Shared Beneficiaries 38901 Charitable Lead Trust Due Grantors 181462 3522874 X 3841897 -45670 8414 -28157 -65413 3907310 -408570 -408570 3498740 2748372 8414 408570 416984 2331388 0 2331388 Part III, Line 4: The Foundation maintains a collection of drawings, medallions, and books, as well as some Pre-Columbian art which was donated to the Foundation over 20 years ago. The Foundation uses the collection in the study of art appreciation. Part V, Line 4: Endowment funds are used to fund programs at Bismarck State College, including scholarships and grants. From time to time, the fair value of assets associated with individual donor restricted endowment funds may fall below the level that the donor or UPMIFA requires the Foundation to retain as a fund of perpetual duration. In accordance with generally accepted accounting principles, deficiencies of this nature that are reported in unrestricted net assets were $3,954,986 and $2,657,975 as of June 30, 2016 and 2015. These deficiencies resulted from unfavorable market fluctuations that occurred shortly after the investment of new permanently restricted contributions and continued appropriation for certain programs that was deemed prudent by the Board of Trustees. Part X, Line 2: The Foundation is organized as a North Dakota nonprofit corporation and has been recognized by the Internal Revenue Service (IRS) as exempt from federal income taxes under Section 501(a) of the Internal Revenue Code as an organization described in Section 501(c)(3). The Foundation qualifies for the charitable contribution deduction under Section 170(b)(1)(A)(vi) and (viii), and has been determined not to be a private foundation under Sections 509(a)(1) and (3), respectively. The Foundation is annually required to file a Return of Organization Exempt from Income Tax (Form 990) with the IRS. In addition, the Foundation is subject to income tax on net income that is derived from business activities that are unrelated to its exempt purpose. The Foundation has determined it is subject to unrelated business income tax and will file an Exempt Organization Business Income Tax Return (Form 990-T) with the IRS to report its unrelated business taxable income. 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 benefit and liability in income tax expense if such interest and penalties are incurred. Part XI, Line 2d - Other Adjustments: Actuarial Adjustment on Annuity Payments -28,157. Part XI, Line 4b - Other Adjustments: Special Events Expense Reported in Expenses on Financial Statements -12,372. Loss on disposal of assets included in expenses -11,534. Rental expenses -384,664. Part XII, Line 2d - Other Adjustments: Special Event Expenses Reported in Revenue on Form 990 12,372. Loss on disposal of assets included in expenses 11,534. Rental expenses 384,664. Golf Tournament 30058 23258 6800 2210 4853 1660 212 President's Ride 9440 2300 7140 1000 1300 39498 25558 13940 3210 4853 2960 212 11235 2705 1 Bismarck State College PO Box 5587 Bismarck ND 58506 363291146 Bismarck State Colle 255297 204733 FMV In-kind donations for programs Grant Bismarck Mandan Chamber Foundation 1640 Burnt Boat Dr Bismarck ND 585021675 263807225 501(c)(3) 20000 Community Bowl Rennovation 2 Scholarships paid to Bismarck State College for BSC Students 423 565072 7325 invoices Postage and special events to promote scholarship applications BCS Student Recognition Awards 181 10230 8292 invoices PTK Membership Dues/programs/food/flowers/postage BSC Employee Recognition Awards 83 13672 11270 invoices Programs, decorations, entertainment and food. Jack Fellowship 3 32500 Scholarships paid to University of Mary for scholarships of graduates of BSC 4 9000 Scholarships paid to North Dakota State University for scholarships of graduates of BSC 3 6000 Part I, Line 2: Bismarck State College's business office monitors the use of the grants and scholarships. Part III, Column (b): The number of recipients is based on the actual listing of students or employees that received grants or assistance. X X 1 1 0 0 0 0 0 0 0 0 0 Gordon Binek NV Executive Director 142223 0 0 0 1598 0 18892 0 13345 0 176058 0 0 0 Part I, Line 1a The Foundation provides for the air fare for the spouse of the Executive Director for meetings with Alumni and potential donors. The Foundation pays for the Lions Club dues for the Executive Director. Part II: The Executive Director, Gordon Binek, is paid by an unrelated company, Bismarck State College, for his services as the Executive Director for Bismarck State College Foundation. Total compensation paid to Gordon by the unrelated company in the calendar year was $174,580. A City of Washburn 456002183 2007-04-10 7944818 Construction of single facility 0 0 0 B City of Washburn 456002183 2006-10-04 1400000 Purchase land and construction of a single facility 0 0 0 C City of Center 456004957 2014-10-28 5250000 Construction of two residence halls 0 0 0 A 7139401 7944818 131698 7813120 2008 0 0 1 1 B 715000 1400000 1400000 2007 0 0 1 1 C 132654 5117346 15638 5234362 2016 0 0 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 0 0 A 0 B 0 C 0 Schedule K Part II, Line 1: The 2006 Revenue Note matures in 2021. The amount on line 1 represents the amount of principal reduction of the underlying note payable to the financial institutions rather than actual retirement of bonds of the issue. The 2007 Revenue Note matures in 2032. The amount on line 1 represents the amount of principal reduction of the underlying note payable to the financial institutions rather than actual retirement of bonds of the issue. Schedule K Part II, Line 3C: The project related to this bond issue was started in 2014; proceeds spent equal the issue price. Construction was completed in June 2016. 2000 Merit Scholarship Educational advancement X 4 97534 Average High/Low value X 1 285000 Appraisal X Materials & Supplies 29 337631 Selling Price X Prizes 5 3210 Selling Price X Food & Water 4 2960 Selling Price 2 0 1 1 Part I, Line 32b: The donated house is being marketed by a board member who is a real estate agent. Form 990, Part III, line 2 Student Housing LLC, a wholly owned subsidiary of the Bismarck State College Foundation, completed the construction of 2 residence halls to provide space for 128 beds. The halls will support Bismarck State College (BSC) as it has a lack of housing for the students. As of August 2015, the first hall was completed. The second hall was completed June 2016. A lease is currently in place between the LLC and BSC. Form 990, Part VI, Section A, line 1 The Executive Committee shall consist of the officers of the Board, the President of BSC, and the Executive Director, both ex-officio, non-voting. The Executive Committee shall have power to hold meetings at such times and places as it deems advisable and to take such action as may be necessary or proper to carry out the purposes of the Foundation. Excepting matters which the Board of Trustees is required to act actions by the Executive Committee shall have the authority of the Board of Trustees. The Committee has the authority to review, make modifications to and recommend approval of the proposed Foundation annual fiscal year budget. The Committee shall forward the recommended proposed budget to the Board of Trustees for final approval. The Committee shall also be authorized to review, modify, reject or recommend approval of any proposed amendments to the approved fiscal year budget. The Committee shall forward any recommended budget changes to the Board of Trustees for final approval. The Executive Committee shall also serve as the Audit Committee for the Foundation. As such, it shall review and approve the annual audit and Management Letter. Form 990, Part VI, Section A, line 2 Paul Sandness and Dave Goodin have a business relationship. Stacy Tschider and Loren Kopseng have a business relationship. David Ludwig, Tim Karsky, Jonus Elston, and David Mason have a business relationship. Dave Clark, Larry Skogen, Kari Knudson, and Gordy Binek have a business relationship with each other and with Greg Ross, Tamera Barber, Tayo Basquiat, Karen Erickson, and Angie Milakovic. Paul Bakkum and Tim Karsky have a business relationship. Dave Gooding and Jason Vollmer have a business relationship. David Ludwig and Cindy Drengson have a business relationship. Form 990, Part VI, Section B, line 11 The Public Disclosure copy of the Form 990 is reviewed by the full Board of Directors prior to filing with the IRS. Form 990, Part VI, Section B, line 12c The policy covers all board members and foundation employees. The conflict of interest statements are completed and reviewed annually. The Executive Director, accountant and administrative assistant review the statements to determine whether a conflict exists. Conflicts would be reviewed by the Executive Director and depending on the situation, the board member is not allowed to vote on anything that involves the related entity or relationship. Form 990, Part VI, Section B, line 15 Kari Knudson is paid by an unrelated organization. The Human Resource Director of the unrelated organization gathers compensation information based upon a North Dakota Colleges survey (state and regional). An independent committee (Executive Council of the College) establishes the compensation and the results are documented in an employment contract. Form 990, Part VI, Section C, line 19 The organization's governing documents, conflict of interest policy, and financial statements are made available to the public upon request. Form 990, Part XI, line 9: Actuarial Gain/Loss on Annuity Payments -28,157. Student Housing LLC PO Box 5587 Bismarck ND 585065587 471109872 Residential Real Estate Rental ND 118328 5759606 Bismarck State College Foundation Property Holdings LLC PO Box 5587 Bismarck ND 585065587 471677740 Commercial Real Estate Rental ND 539201 6866101 Bismarck State College Foundation Charitable Remainder Unitrusts (12) Charitable Trust ND Bismarck State College Foundation 1 Charitable Lead Trusts (2) Charitable Trust ND Bismarck State College Foundation 1 Perpetual Trust (1) Charitable Trust ND Bismarck State College Foundation 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0