2014-11-13T16:31:34-06:00 2013-12-31 450250958 EIDE BAILLY LLP 4310 17TH AVE S PO BOX 2545 FARGO ND 581082545 990 2013-01-01 237120898 North Dakota State University Development Foundation NORT 7012316800 1241 N University Drive Fargo ND 58102 Douglas P Mayo President/CEO 7012316800 2014-11-07 1 LISA CHAFFEE CPA P00193453 7012398500 2014-11-07 2013 2015-11-30 17:44:51Z NDSU Development FoundationAlumni Association Douglas P Mayo 1241 N University Drive Fargo ND 58102 131738234 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. 59 59 146 345 -3199 -4201 16530113 15288493 465075 423181 2531746 19627071 -169580 3849545 19357354 39188290 10820891 8347781 0 0 2767161 2735152 0 0 1367365 1566518 1606612 15154570 12689545 4202784 26498745 210417200 226438703 37040363 29963450 173376837 196475253 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 5296572 5296572 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. 3051209 3051209 Scholarships and awards to students enrolled at North Dakota State University selected by independent scholarship committees. 977258 1678365 Alumni records, newsletters and special events such as Homecoming, city alumni/student exchanges. Sponsor University programs such as Harvest Bowl and Celebration of Excellence. 9325039 1 1 0 1 0 0 0 1 1 1 1 0 0 0 1 1 0 1 0 0 1 0 0 0 1 0 0 1 0 1 1 0 0 1 0 0 1 0 0 0 0 1 1 0 0 0 1 1 1 0 0 1 115 0 1 146 1 1 1 0 0 0 0 1 1 0 0 0 0 X 59 59 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 X X Carol Gustad VP FinanceCFO 7012316854 1241 University Drive N Fargo ND 58102 Ryn Pitts Chair of the Board 2.00 X X 0 0 0 Jonal Uglem Past Chair of the Board 3.00 X X 0 0 0 John S Wold Vice Chair 1.50 X X 0 0 0 Steven J Swiontek Treasurer 1.50 X X 0 0 0 Robert E Challey Secretary 2.50 X X 0 0 0 Sue Andrews Trustee 1.00 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 10.00 X 0 0 0 Barbara Burgum Trustee 0.50 X 0 0 0 Julie Burgum Trustee 0.50 X 0 0 0 Paul Cossette Trustee 2.00 X 0 0 0 Terrence C Dahl Trustee 1.00 X 0 0 0 Spencer Duin Trustee 3.00 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 0.50 X 0 0 0 Richard J Erickson Trustee 0.50 X 0 0 0 Susan Freeman Trustee 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 2.00 X 0 0 0 Michael E Hanson Trustee 0.50 X 0 0 0 Terry J Hanson Trustee 1.00 X 0 0 0 Robert Heller Trustee 1.00 X 0 0 0 Larry Holweger Trustee 1.00 X 0 0 0 Paul Horn Trustee 2.00 X 0 0 0 James R Howe Trustee 1.00 X 0 0 0 Frank Jennings Trustee 1.00 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 1.50 X 0 0 0 Terrance Kristensen Trustee 0.50 X 0 0 0 Michael Krueger Trustee 1.00 X 0 0 0 Russel J Kuzel Trustee 1.50 X 0 0 0 Robert C Lauf Trustee 2.00 X 0 0 0 Robert Lervick Trustee 1.50 X 0 0 0 Jane Lillestol Trustee 0.50 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 0.50 X 0 0 0 Russell D Maring Trustee 1.00 X 0 0 0 Richard Marsden Trustee 1.00 X 0 0 0 Dr James Meier Trustee 1.50 X 0 0 0 Franklin D Meyers Trustee 0.50 X 0 0 0 Dr Larry Milsow Trustee 0.50 X 0 0 0 Dr Robert C Montgomery Trustee 1.00 X 0 0 0 Connie Nicholas Trustee 3.50 X 0 0 0 David Olig Trustee 0.50 X 0 0 0 Ronald G Olson Trustee 0.50 X 0 0 0 John Q Paulsen Trustee 1.00 X 0 0 0 Gary Paulsrud Trustee 1.50 X 0 0 0 Keith Peltier Trustee 1.50 X 0 0 0 Carl Pfiffner Trustee 0.50 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 1.00 X 0 0 0 Jeffrey Schlossman Trustee 0.50 X 0 0 0 David J Selvig Trustee 0.50 X 0 0 0 Mary Lou Shott Trustee 5.00 X 0 0 0 John W Shotwell Trustee 0.50 X 0 0 0 Kenneth Skuza Trustee 1.50 X 0 0 0 Terry Stroh Trustee 0.50 X 0 0 0 Charles Ulmer Trustee 2.50 X 0 0 0 Jeffry Volk Trustee 2.00 X 0 0 0 Mark D Walstead Trustee 0.50 X 0 0 0 James S Wieland Trustee 0.50 X 0 0 0 Mary Zweber Trustee 0.50 X 0 0 0 James C Miller President & CEO (Jan-April) 50.00 X 158859 0 21213 Douglas P Mayo President & CEO (May-Dec) 50.00 X 129107 0 15282 Carol Gustad Vice President-Finance/CFO 50.00 X 97741 0 26408 Sherri Schmidt Vice President for Alumni Relations 50.00 X 136474 0 33108 Leo Ringey Senior Director of Development 50.00 X 122016 0 29516 644197 0 125527 4 0 1 0 Commonfund PO Box 5493 Boston MA 02206 Investment Fees 156855 1 307688 14980805 4577203 15288493 Alumni Records Fees 611710 275000 275000 Program Event Revenue 611710 126221 122721 3500 Miscellaneous Income 900099 21960 21960 423181 3498938 -47967 3546905 194738 194738 5734555 1330943 3348727 75759 2385828 1255184 3641012 1255184 2385828 104489999 436074 86962435 1835505 17527564 -1399431 16128133 16128133 290970 307688 318443 -27473 -27473 25259 9075 16184 16184 Alumni Travel 561500 17665 17665 Alumni Insurance, Net 524298 7419 7419 25084 39188290 1674865 -3199 22228131 8347781 8347781 397423 68152 261119 68152 1650014 301837 592407 755770 134289 26661 47089 60539 403448 74902 172081 156465 149978 26027 60828 63123 9463 9463 65545 65545 156855 156855 65946 23635 42311 97967 20617 10774 66576 240008 39149 158511 42348 116049 270 90933 24846 135182 16511 118671 128466 32860 45603 50003 67817 4798 56948 6071 34966 34966 149416 149416 29275 29175 100 Event Expense 186316 147215 892 38209 Public Relations/Donor 96765 41958 27721 27086 Dues & Subscriptions 17478 234 14305 2939 Income Taxes 794 794 8304 3016 150 5138 12689545 9325039 1997141 1367365 17277482 22912977 24373798 22796314 251693 442759 2811 8 1297248 1193463 4132 59571 50238 155606 61961247 16950027 48252489 45011220 107881514 122264290 10517654 10576258 508141 1026237 210417200 226438703 2900019 854642 1566230 1698012 113000 6500 22590917 18829374 217915 256313 2474443 913951 7177839 7404658 37040363 29963450 X 29611291 38261085 48524994 59938114 95240552 98276054 173376837 196475253 210417200 226438703 X 26498745 -1381179 -2019150 X 0 1 X 1 0 X 10344161 28508432 14028816 16530113 15288493 84700015 10344161 28508432 14028816 16530113 15288493 84700015 23356626 61343389 4154028 5051132 2493783 5431512 10759174 27889629 3576 10269 13845 1674 1674 112605163 2180988 0.54480 0.52690 X Schedule A, Part II, Section A and Section B, Column (c): Amounts reported in Schedule A, Part II, Section A and Section B, Column (c) 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. 75447 X 0 0 1 X 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 78950907 4306302 9840045 1734701 2175904 1308686 87877963 0.10310 0.76050 0.13640 0 0 2997030 2997030 52363549 12735184 39628365 3476515 2092770 1383745 2240966 1917861 323105 883187 204212 678975 45011220 Gift Annuities Payable 3092301 Trusts Payable 4126611 Due To Fossum 59373 Special Assessments Payable 126373 7404658 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 examinations for years before 2010. Central America and the Caribbean - Investments 27081152 0 0 0 0 0 0 27081152 0 27081152 1 0 1 1 0 0 BBB Auction 447107 266507 180600 180600 37673 BBB Dinner 90000 90000 2902 58252 7171 2 61551 41181 20370 2114 1209 9441 1791 17290 598658 307688 290970 182714 4111 67693 1791 62134 318443 -27473 1 North Dakota State University 1340 Administration Ave Fargo ND 58102 456002439 NDSU 8347781 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 James C Miller President & CEO (Jan-April) 100448 0 0 0 58411 0 10295 0 11499 0 180653 0 0 0 Sherri Schmidt Vice President for Alumni Relations 136439 0 0 0 35 0 13311 0 20723 0 170508 0 0 0 Leo Ringey Senior Director of Development 121981 0 0 0 35 0 11670 0 18634 0 152320 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 3500000 18500 3481500 2007 0 0 1 1 B 900000 900000 2009 0 0 1 1 C 5650000 31489 5618511 2010 0 0 1 1 D 12145894 11983655 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 1 0 0 0 0 0 1 D 0 0 1 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 Leo Ringey Highly compensated employee, Senior Director of Development Personal purchase on company credit card. Loan was repaid after year end. X 8 8 0 0 0 8 X 1 800 FMV X 125138 FMV X 55 3904876 Average High/Low X 2 48703 Average High/Low X 1 21550 FMV X 1 15839 Appraised Value X Grain 2 460297 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. Jeffrey Schlossman and James S. Wieland have a business relationship. Julie Burgum and Barbara Burgum have a family relationship. David S. Maring and Russell D. Maring have a family relationship. Form 990, Part VI, Section B, line 11 The Form 990 was reviewed by the Chair of the Finance Committee and 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 and approval. 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 -1,499,115. Change in Split Interest Agreements -720,035. Fossum Transfer 200,000. 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 (18) 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 E 59373 General Ledger Fossum Foundation Inc S 200000 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.