2013-10-03T10:09:26-05:00 2012-12-31 450250958 EIDE BAILLY LLP 200 EAST 10TH ST PO BOX 5125 SIOUX FALLS SD 571175125 990 2012-01-01 460273801 SOUTH DAKOTA STATE UNIVERSITY FOUNDATION SOUT 6056977475 815 MEDARY AVENUE BOX 525 BROOKINGS SD 570070499 STEVE ERPENBACH 6056977475 2013-09-30 1 LAURIE HANSON P00851848 6053391999 2013-09-30 2012 2016-02-25 16:41:14Z STEVE ERPENBACH 815 MEDARY AVENUE BOX 525 BROOKINGS SD 570070499 53841651 0 X WWW.SDSUFOUNDATION.ORG X 1945 SD UNITING THE DREAMS OF OUR STUDENTS, UNIVERSITY, AND DONORS TO BUILD A BETTER SDSU. 13 13 37 187 17308 16308 25135858 26472583 352075 1404 10003954 1778848 807861 731502 36299748 28984337 23399918 8899304 0 0 1828827 1902092 0 42224 2474425 4240038 4079451 29468783 14923071 6830965 14061266 144963532 160983140 31816876 26075843 113146656 134907297 UNITING THE DREAMS OF OUR STUDENTS, UNIVERSITY, AND DONORS TO BUILD A BETTER SDSU. 0 0 10845492 8899304 2494446 TO UNITE THE DREAMS OF OUR STUDENTS, UNIVERSITY, AND DONORS TO BUILD A BETTER SDSU. APPROXIMATELY $2.98 MILLION IN SCHOLARSHIPS WERE AWARDED, $4.55 MILLION IN DEPARTMENTAL PROGRAMS WERE FUNDED, AND $3.07 MILLION IN CAPITAL PROJECTS WERE FUNDED DURING 2012. 10845492 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 1 154 0 1 37 1 1 1 0 0 0 1 1 1 1 0 0 0 0 X 13 13 0 0 1 0 1 1 0 1 0 0 0 1 1 1 1 1 0 1 1 1 1 X TIM DWIRE 6056977475 815 MEDARY AVENUE BOX 525 BROOKINGS SD 57004 KEVIN ROBERTS 1.00 X X 0 0 0 DUANE HARMS 1.00 X X 0 0 0 KEITH BARTELS 1.00 X 0 0 0 GENE JOHNSON 1.00 X 0 0 0 STEVE STAHLY 1.00 X 0 0 0 KIM TYLER 1.00 X 0 0 0 CATHY VOELZKE 1.00 X 0 0 0 MYRON WILLIAMS 1.00 X 0 0 0 JON BROWN 1.00 X 0 0 0 BILL FOLKERTS 1.00 X 0 0 0 MARY HOWARD 1.00 X 0 0 0 JERRY LOHR 1.00 X 0 0 0 PAT MICKELSON 1.00 X 0 0 0 STEVE ERPENBACH 55.00 X 150756 0 25495 TIM DWIRE 55.00 X 129783 0 21961 KEITH MAHLUM 55.00 X 121969 0 10546 402508 0 58002 3 0 1 0 ARAMARK SSU 155 BOX 2815B BROOKINGS SD 57007 FOOD SERVICES 261988 BRIGHTSPARK TRAVEL INC 111 SOUTH PFINGSTEN RD SUITE 100 DEERFIELD IL 60015 TRAVEL SERVICES 187760 HENKIN-SCHULTZ 6201 S PINNACLE PLACE SIOUX FALLS SD 57108 MARKETING 148175 MERCER 701 MARKET STREET SUITE 100 ST LOUIS MO 63101 INVESTMENT CONSULTING 119778 4 26472583 6254468 26472583 ADMINISTRATION FEES 561000 163200 163200 INVESTM'T-SUBSIDIARIES 900099 -161796 17308 -179104 1404 2663325 2663325 281502 0 281502 281502 281502 22686459 1286378 23281875 1575439 -595416 -289061 -884477 -884477 TELEMARKETING CONTRACT 900099 300000 300000 PROF'L FUNDRAISING 900099 150000 150000 450000 28984337 0 17308 2494446 8899304 8899304 461463 373160 88303 1231751 267598 964153 49325 11641 37684 46542 5788 40754 113011 38464 74547 94694 1238 93456 63131 60761 2370 42224 42224 234567 4 206705 27858 491169 331041 49461 110667 193564 31539 14746 147279 514608 199695 145375 169538 39089 3202 15642 20245 218137 31947 167637 18553 304760 208056 9674 87030 38624 19454 9018 10152 464977 436679 28298 159912 159912 56321 311 20537 35473 HOSPITALITY 605932 476892 5710 123330 RECOGNITION AND MEMORIA 257950 163705 929 93316 DUES AND SUBSCRIPTIONS 29908 22720 3581 3607 312108 20943 7279 283886 14923071 10845492 1603154 2474425 11781139 11026758 31350506 31565547 2289821 1889306 26258 26071 11732165 1783538 7125219 9948627 81867557 95612328 10523032 10914503 144963532 160983140 6820504 2656616 15950505 13471274 846598 9045867 9101355 31816876 26075843 X -19377638 -14435814 27880008 38956684 104644286 110386427 113146656 134907297 144963532 160983140 X 14061266 7005766 693609 X 0 1 X 1 0 X 40346632 19679152 24505356 25135858 26472583 136139581 40346632 19679152 24505356 25135858 26472583 136139581 29328034 106811547 2528816 2764528 2602361 2707509 2944827 13548041 450000 462000 495000 495000 450000 2352000 152039622 801676 0.70250 0.70640 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 90497642 7296245 8392754 2363038 433425 1240210 102149968 85546878 9609609 -291743 2797413 266933 1302756 90497642 71640908 10717659 7294478 3841177 240733 24257 85546878 58226820 7462837 10825532 1877176 1701797 1295308 71640908 76878289 4159815 -18149992 2204058 842276 1614958 58226820 0.00260 0.98310 0.01430 0 0 2210889 786986 2997875 2218481 3655965 1010642 4863804 814069 738161 75908 1994372 51403 34735 2011040 9948627 CASH SURRENDER VALUE OF LIFE INSURANCE 386460 BENEFICIAL INTEREST IN PERPETUAL TRUST 837415 TRUSTS HELD BY OTHERS 1545058 LIFE ESTATES 1257155 INVESTMENT IN SUBSIDIARIES 1800057 PREPAID UNIVERSITY SUPPORT 1194448 OTHER INVESTMENTS IN ANNUITIES, TRUSTS & ENDOWMENT POOLS 3893910 10914503 INVESTMENTS HELD FOR OTHERS 252561 GIFT ANNUITIES & LIFE INCOME AGREEMENTS 8848794 9101355 X DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: 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. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE ORGANIZATOIN 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, 2012 AND 2011 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. THE FOUNDATION'S FORM 990-T IS NO LONGER SUBJECT TO U.S. FEDERAL, STATE, OR LOCAL TAX EXAMINATIONS FOR YEARS BEFORE 2009. 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 X X X X X 1 RUFFALO CODY 65 KIRKWOOD NORTH ROAD SW CEDAR RAPIDS IA 52404 CONSULTING 0 24849 42224 -17375 24849 42224 -17375 1 SOUTH DAKOTA STATE UNIVERSITY PO BOX 2201 BROOKINGS SD 57007 466000364 501(C)(3) 4913453 800513 FMV INVESTMENTS SDSU DEPARTMENTAL EXPENSES, BUILDING, AND EQUIPMENT PURCHASES SOUTH DAKOTA STATE UNIVERSITY PO BOX 2201 BROOKINGS SD 57007 466000364 501(C)(3) 2980594 GIFTS, GRANTS AND SCHOLARSHIPS ENTERPRISE INSTITUTE 2301 RESEARCH PARK WAY BROOKINGS SD 57006 710879071 501(C)(3) 29500 GIFT, GRANTS AND SCHOLARSHIPS THE SIOUX FALLS GREEN PROJECT 431 N PHILLIPS AVE 20 SIOUX FALLS SD 57104 263820362 501(C)(3) 8000 SPONSORSHIP MICHIGAN STATE UNIVERSITY 109 AGRICULTURAL HALL EAST LANSING MI 48824 386005984 501(C)(3) 133334 FELLOWSHIP SAND COUNTY FOUNDATION 16 N CARROLL ST SUITE 450 MADISON WI 53703 396089450 501(C)(3) 5000 CONSERVATION 6 0 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, 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. X X X X 0 0 0 0 0 0 0 0 0 STEVE ERPENBACH 143976 0 6780 0 0 0 8189 0 17661 0 176606 0 0 0 TIM DWIRE 122985 0 6798 0 0 0 6949 0 15328 0 152060 0 0 0 A BROOKINGS COUNTY 466000070 2007-06-28 10000000 BUILDING PROJECTS ON THE SDSU CAMPUS IN BROOKINGS, SD. 0 0 0 B BROOKINGS COUNTY 466000070 2010-04-28 12000000 AVERA HEALTH AND SCIENCE CENTER 0 0 0 A 3916920 10000000 105085 9894915 2009 0 0 1 1 B 4611806 12000000 29864 11970136 2010 0 0 1 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 A 0 0 1 0 1 0 0 0 0 B 0 0 1 0 0 0 0 0 0 A 0 B 0 X 5 2995 OPINION OF EXPERT X 109347 FAIR MARKET VALUE X 66 804581 AVG HIGH/LOW DOT X 2 3026769 APPRAISAL & MARKET VALUE X 1 398786 APPRAISAL & MARKET VALUE X 1 100000 APPRAISAL X 1 288000 APPRAISAL X 1 370000 APPRAISAL X EQUIPMENT 31 153380 OPINION OF EXPERT X LIVESTOCK/GRAIN 37 596553 SELLING PRICE X OTHER 252 404057 FAIR MARKET VALUE 3 0 1 0 FORM 990, PART VI, SECTION A, LINE 4 THE FOUNDATION AMENDED ITS BYLAWS ON APRIL 27, 2012: ARTICLES II SECTION 4. QUORUM THE DEFINITION OF QUORUM WAS CHANGED FROM "ONE THIRD PLUS ONE" TO "FIFTY-ONE PERCENT" OF THE MEMBERSHIP OF THE COUNCIL OF TRUSTEES. THE TEXTUAL CHANGE REVISES THE DESCRIPTION OF QUORUM TO A MORE STANDARD DEFINITION. ARTICLES II SECTION 1. IDENTIFICATION AND ELECTION THE OFFICERS NOW INCLUDE A CHAIR OF THE COUNCIL OF TRUSTEES AND A CHAIR-ELECT TO REFLECT CURRENT PRACTICE. IN CURRENT PRACTICE, A SECRETARY AND A TREASURER HAVE NOT BEEN APPOINTED AS OFFICERS. THE RESPONSIBILITIES OF RECORDING SECRETARY HAVE BEEN PERFORMED BY VARIOUS FOUNDATION STAFF. IN THE CURRENT STRUCTURE, THE RESPONSIBILITIES OF A TREASURER POSITION WERE NOT DESIGNATED TO ANY ONE PERSON BUT HAVE BEEN PERFORMED BY THE CHIEF FINANCE OFFICER (FOUNDATION STAFF), BOARD MEMBERS AND BOARD COMMITTEES. UPON RECOMMENDATION OF COUNSEL, SECTION TITLE WAS REVISED TO "IDENTIFICATION AND ELECTION". ARTICLES II SECTION 3. NOMINATION THIS IS A NEW SECTION TO PROVIDE A SPECIFIC PROCEDURE FOR NOMINATIONS: A THREE-MEMBER NOMINATING COMMITTEE, COMPRISED OF THE CHAIR-ELECT, AND TWO MEMBERS OF THE BOARD OF GOVERNORS -- AT-LARGE -- WILL NOMINATE CANDIDATES FOR CHAIR-ELECT OF THE BOARD OF GOVERNORS. THE CHAIR WILL APPOINT THE NOMINATING COMMITTEE. ARTICLES II SECTION 6. DUTIES AND POWERS OF OFFICERS THE REVISION SPECIFIES GENERAL RESPONSIBILITIES OF OFFICERS AND INCORPORATES A SUCCESSION PATH FOR CHAIR-ELECT: THE CHAIR SHALL PRESIDE OVER MEETINGS OF THE COUNCIL OF TRUSTEES AND THE BOARD OF GOVERNORS, APPOINT OR REMOVE CHAIRS OR MEMBERS OF ALL BOARD COMMITTEES (WITH THE EXCEPTION OF THE MEMBERSHIP COMMITTEE), SERVE AS AN EX-OFFICIO MEMBER OF ALL COMMITTEES (EXCEPT THE MEMBERSHIP COMMITTEE), AND HAVE OTHER DUTIES AS THE BOARD OF GOVERNORS MAY PRESCRIBE FROM TIME TO TIME. IN THE ABSENCE OR DISABILITY OF THE CHAIR, THE CHAIR-ELECT SHALL PERFORM THE DUTIES OF THE OFFICE OF THE CHAIR, INCLUDING PRESIDING AT MEETINGS OF THE COUNCIL OF TRUSTEES AND BOARD OF GOVERNORS, HAVE OTHER DUTIES AS THE BOARD OF GOVERNORS MAY PRESCRIBE FROM TIME TO TIME, AND SUCCEED TO THE CHAIR WHEN A VACANCY OCCURS. ARTICLES IV SECTION 1. GENERAL POWER THE NOMINATION FROM THE FLOOR PROVISION WAS ELIMINATED, BECAUSE THIS PRACTICE COULD HINDER THE NOMINATION OF WELL-QUALIFIED CANDIDATES FOR THE BOARD OF GOVERNORS SINCE CANDIDATES COULD NOT BE ASSURED OF BEING ELECTED TO THE BOARD. ADDITIONALLY, ALLOWING NOMINATIONS FROM THE FLOOR COULD HAMPER THE MEMBERSHIP COMMITTEE'S EFFORTS TO PROVIDE AN APPROPRIATE REPRESENTATION OF EXPERTISE, AGE, GENDER, GEOGRAPHY, ACADEMIC BACKGROUND AND OTHER FACTORS IN BOARD MEMBERSHIP. THE TITLE OF THE SDSU ALUMNI BOARD OF DIRECTORS REPRESENTATIVE WAS CORRECTED TO CHAIR, SDSU ALUMNI ASSOCIATION BOARD OF DIRECTORS. ARTICLES IV SECTION 5. BOARD GOVERNANCE COMMITTEES A COMPENSATION COMMITTEE IS INCLUDED IN THE BYLAWS. ARTICLE VI SECTION 2 CONTRACTS THIS IS A NEW SECTION: THE BOARD OF GOVERNORS MAY AUTHORIZE ANY OFFICER OR EMPLOYEE OF THE CORPORATION TO ENTER INTO ANY CONTRACT OR AGREEMENT IN THE NAME OF AND ON BEHALF OF THE CORPORATION, AND SUCH AUTHORITY MAY BE GENERAL OR CONFINED TO SPECIFIC INSTANCES. ARTICLE VI SECTION 7 AMENDMENTS ESTABLISHED THE PROCESS FOR PROPOSING AMENDMENTS TO THE BYLAWS OR DETAIL ON NOTICE REQUIREMENTS FOR VOTES ON PROPOSED AMENDMENTS. THE REVISED TEXT PROVIDES: (1) A PROCESS FOR PROPOSING AMENDMENTS AND (2) NOTICE REQUIREMENTS FOR VOTES ON PROPOSED AMENDMENTS. THE TEXT WAS ALSO REVISED TO INDICATE THAT AMENDMENTS MAY BE ADOPTED BY A MAJORITY VOTE AT EITHER "THE ANNUAL FALL OR THE SPRING MEETING". 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 THE FOUNDATION DOCUMENTS MEETINGS HELD BY EACH COMMITTEE BUT THE FOUNDATION HAS NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11 THE CFO REVIEWS THE 990 IN DETAIL PRIOR TO IT BEING FILED. ANY QUESTIONS ARE RESOLVED WITH THE GOVERNING BODY PRIOR TO THE 990 BEING FILED. A COPY OF THE 990 IS ELECTRONICALLY PROVIDED TO THE GOVERNING BODY PRIOR TO IT BEING FILED. 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: CHANGE IN SPLIT-INTEREST AGREEMENTS 693,609. PROCEEDS FORM 990, SCH K, PART II: THE FOUNDATION'S PRIMARY PURPOSE IS TO UNITE THE DREAMS OF OUR STUDENTS, UNIVERSITY, AND DONORS TO BUILD A BETTER SDSU. TO HELP ACCOMPLISH THIS, THE FOUNDATION FUNDED APPROXIMATELY $16,600,000 OF CAPITAL PROJECTS ON THE SDSU CAMPUS DURING 2010. THE PROCEEDS OF THIS $10,000,000 BOND ISSUANCE WERE USED IN FUNDING THAT OCCURRED DURING 2008 AND 2009. ENTERPRISE INSTITUTE 2301 RESEARCH PARK WAY BROOKINGS SD 57006 710879071 SUPPORT SCIENTIFIC RESEARCH AND EDUCATIONAL OPPORTUNITIES AT SDSU SD 501(C)(3) LINE 5 SDSU FOUNDATION 1 OPPORTUNITIES FARM 815 MEDARY AVENUE BOX 525 BROOKINGS SD 57006 820564374 OPERATE A FARM AND CATTLE FEEDLOT FOR THE BENEFIT OF SDSU STUDENTS SD 501(C)(3) LINE 5 SDSU FOUNDATION 1 MIGHTY FLY SD INC 110 S PHILLIPS AVE SUITE 200 SIOUX FALLS SD 57104 411931279 LEASING OF AIRPLANE TO SDSU SD SDSU FOUNDATION C -214361 1161249 1.00000 1 1 1 1 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 OPPORTUNITIES FARM A 163200 FMV MIGHTY FLY F 60241 FMV