2013-10-14T08:24:00-05:00 2013-06-30 450250958 EIDE BAILLY LLP 200 EAST 10TH ST PO BOX 5125 SIOUX FALLS SD 571175125 990 2012-07-01 466018891 UNIVERSITY OF SOUTH DAKOTA FOUNDATION UNIV 6056776703 1110 N DAKOTA PO BOX 5555 VERMILLION SD 57069 STEVE BROWN 6056776703 2013-10-10 1 LAURIE HANSON P00851848 6053391999 2013-10-10 2012 2015-11-30 17:44:51Z STEVE BROWN 1110 N DAKOTA PO BOX 5555 VERMILLION SD 57069 44278005 0 X WWW.USDFOUNDATION.ORG X 1928 SD THE UNIVERSITY OF SOUTH DAKOTA FOUNDATION PROVIDES GIFTS, GRANTS, AND SCHOLARSHIPS TO OR FOR THE BENEFIT OF THE UNIVERSITY OF SOUTH DAKOTA. THESE FUNDS ARE DISBURSED TO USD STUDENTS OR DEPARTMENTS BASED ON FINANCIAL NEED, QUALIFICATIONS, AND/OR IN ACCORDANCE WITH THE DONOR'S WISHES. 26 26 100 29 127835 107481 9544431 15174713 334961 888249 4044624 5704648 67063 64432 13991079 21832042 12536538 11283505 0 0 2055159 2291451 0 0 1859777 1902451 2232148 16494148 15807104 -2503069 6024938 191013116 218096830 10595177 12629190 180417939 205467640 X THE MISSION OF THE UNIVERSITY OF SOUTH DAKOTA FOUNDATION ("FOUNDATION") IS TO PROVIDE PRIVATE RESOURCES FOR THE UNIVERSITY OF SOUTH DAKOTA ("USD"), IN ORDER TO INCREASE THE EXCELLENCE OF THE USD STUDENT'S EDUCATIONAL EXPERIENCE, WITH THE OVERRIDING GOAL OF CREATING THE BEST SMALL PUBLIC UNIVERSITY IN THE COUNTRY EMPHASIZING EXCELLENCE IN TEACHING. THE FOUNDATION WILL SUPPLEMENT THE STATE'S FUNDING TO USD PRIMARILY IN THE FOLLOWING AREAS: 1) PROVIDING SCHOLARSHIP FUNDS TO INCREASE THE ACADEMIC EXCELLENCE OF THE STUDENT BODY AND THE QUALITY OF THEIR EDUCATIONAL EXPERIENCE; 2) PROVIDING FUNDS TO CONSTRUCT NEW CAMPUS FACILITIES AND RESTORE, REPAIR AND MAINTAIN EXISTING FACILITIES; 3) PROVIDING FUNDS FOR SALARY AUGMENTATION AND OTHER SUPPORT OF THE ACADEMIC FACULTY AND FOR THE SUPPORT OF USD MUSEUMS AND OTHER VARIOUS AUXILIARY PROGRAMS, FACILITIES AND SERVICES. 0 0 5971387 5971387 4309734 PROVIDE SCHOLARSHIP FUNDS TO INCREASE THE ACADEMIC EXCELLENCE OF THE STUDENT BODY AND THE QUALITY OF THEIR EDUCATIONAL EXPERIENCE. DURING THE FISCAL YEAR ENDED JUNE 30, 2013, THE UNIVERSITY OF SOUTH DAKOTA FOUNDATION ("FOUNDATION") PROVIDED $11,253,688 TO THE UNIVERSITY OF SOUTH DAKOTA ("USD"). INCLUDED IN THIS AMOUNT WAS SCHOLARSHIP SUPPORT IN THE AMOUNT OF $5.9 MILLION. SCHOLARSHIPS ARE AWARDED FOR BOTH RECRUITING AND RETENTION PURPOSES. A NEW FRESHMAN RECRUITING SCHOLARSHIP PROGRAM WAS STARTED IN 2003 THAT HAS BEEN INSTRUMENTAL IN HELPING TO ACCOMPLISH USD'S ENROLLMENT OBJECTIVES. THE AMOUNT OF SCHOLARSHIPS PROVIDED SINCE THIS NEW PROGRAM BEGAN HAS INCREASED FROM $1.9 MILLION TO $5.9 MILLION (310% INCREASE). TOTAL ENROLLMENT INCREASED 30% SINCE 2003, WITH FIRST TIME FULL TIME FRESHMAN INCREASING BY 25%. THE NUMBER OF FRESHMAN FITTING THE ACT REQUIREMENTS TO RECEIVE THE SCHOLARSHIP INCREASED 40% DURING THIS PERIOD OF TIME. THE RETENTION RATE ALSO CONTINUES TO INCREASE AS A RESULT OF THE FRESHMAN SCHOLARSHIP PROGRAM. 2488073 2488073 6048096 PROVIDE FUNDS TO CONSTRUCT NEW CAMPUS FACILITIES AND RESTORE, REPAIR AND MAINTAIN EXISTING FACILITIES. THE FOUNDATION HAS BEEN INSTRUMENTAL IN A MAJOR RENOVATION AND RECONSTRUCTION PLAN FOR FACILITIES AT USD. DURING THE FISCAL YEAR ENDED JUNE 30, 2013 $2.5 MILLION WAS PROVIDED TO USD FOR THIS PURPOSE. SINCE 1996, $51 MILLION HAS BEEN PROVIDED FOR FACILITIES THAT HAVE ENHANCED THE STUDENTS EDUCATIONAL EXPERIENCE AND OPPORTUNITIES AND HAVE RESULTED IN A NEW HEALTH SCIENCE INFORMATION CENTER BUILDING, THE RENOVATION OF A CHILDCARE FACILITY, REPLACEMENT OF THE DAKOTA DOME ROOF, RENOVATION OF A TECHNOLOGICAL STATE OF THE ART ALLEN H. NEUHARTH CENTER FOR COMMUNICATIONS AND JOURNALISM, RENOVATION OF TWO HISTORICAL BUILDINGS - OLD MAIN AND BELBAS CENTER - TO BE USED FOR CLASSROOMS AND STUDENT SERVICES, RENOVATION OF AALFS AUDITORIUM TO BE USED FOR MAJOR EVENTS AND PROGRAMS, RENOVATION OF THE LEE MEDICAL SCHOOL BUILDING, CONSTRUCTION OF THE MUENSTER UNIVERSITY CENTER - STUDENT CENTER, AND CONSTRUCTION OF A NEW BEACOM SCHOOL OF BUSINESS BUILDING. FUNDRAISING AND CONSTRUCTION PLANNING HAS BEGUN FOR NEW ATHLETIC FACILITIES AND RENOVATION OF THE NATIONAL MUSIC MUSEUM FACILITIES. 2824045 2824045 4684546 PROVIDE FUNDS FOR SALARY AUGMENTATION AND OTHER SUPPORT OF ACADEMIC FACULTY, AND FUNDS TO SUPPORT USD MUSEUMS AND VARIOUS OTHER AUXILIARY PROGRAMS. DURING THE FISCAL YEAR ENDED JUNE 30, 2013, THE FOUNDATION PROVIDED $2.8 MILLION TO USD TO SUPPORT OPERATIONS AND PROGRAMS. INCLUDED IN THIS TOTAL WAS $1 MILLION PROVIDED FOR FACULTY IN THE FORM OF SALARY AUGMENTATION, TRAVEL, PROFESSIONAL DEVELOPMENT AND RESEARCH. SUPPORT TO STUDENTS FOR TRAVEL, ASSISTANTSHIPS, INTERNSHIPS, RESEARCH, ETC WAS PROVIDED IN THE AMOUNT OF $462 THOUSAND. LECTURES, PROGRAMS AND OPERATIONAL SUPPORT BENEFITED BY $1.3 MILLION. 11283505 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 0 1 0 0 1 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 1 62 0 1 100 1 1 1 0 0 0 1 1 1 1 0 0 0 0 X 26 26 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 AK AR CA CO IL ME MD MA MI MN NH NJ NM NY OH OK SC TN UT WA WV X X X KAREN DAVIES 6056776709 USD FOUNDATION PO BOX 5555 VERMILLION SD 57069 DOYLE KNUDSON 0.70 X X 0 0 0 PAUL J LEWIS 0.70 X X 0 0 0 DANIEL J KELLY 0.70 X X 0 0 0 VERN O HOLTER 0.70 X X 0 0 0 GARY BEGEMAN 0.40 X 0 0 0 MICHAEL CASEY 0.40 X 0 0 0 ANTHONY CLEBERG 0.40 X 0 0 0 DAVID CULLEN 0.40 X 0 0 0 CHARLES FULLERTON 0.40 X 0 0 0 NANCY A GALLAGHER 0.70 X 0 0 0 JOHN GRUNDHOFER 0.70 X 0 0 0 LORRAINE HART 0.40 X 0 0 0 LARRY HARTOG 0.40 X 0 0 0 THOMAS L HEINZ 0.40 X 0 0 0 JARED HIGMAN 0.40 X 0 0 0 ROBERT HOLLINGSWORTH 0.50 X 0 0 0 BOYD HOPKINS 0.40 X 0 0 0 ELLENGRAY KENNEDY 0.40 X 0 0 0 JOHN LILLIBRIDGE 0.40 X 0 0 0 DANIEL MEYER 0.40 X 0 0 0 DAVID OLSON 0.50 X 0 0 0 JEANNETTE PORTER 0.40 X 0 0 0 WARREN L PROSTROLLO 0.50 X 0 0 0 JEFFREY SVEEN 0.40 X 0 0 0 CATHLEEN TOBIN 0.40 X 0 0 0 MARLON YOUNG 0.40 X 0 0 0 PHILIP A ODEN 0.40 X 0 0 0 STEPHANIE R OTTO 0.40 X 0 0 0 ROGER KOZAK 0.00 X 0 0 0 STEVE BROWN 40.00 X 204840 0 10380 KAREN DAVIES 40.00 X 119134 0 17428 MICHAEL MAGOON 40.00 X 118066 0 15679 442040 0 43487 3 0 1 0 ADAGE CAPITAL PARTNERS 200 CLARENDON STREET BOSTON MA 02116 INVESTMENT MANAGEMENT FEES 317325 BLACKSTONE GROUP 345 PARK AVE 32ND FLOOR NEW YORK NY 10154 INVESTMENT MANAGEMENT FEES 198486 BRANDES INVESTMENT PARTNERS 11988 CAMINO REAL STE 500 SAN DIEGO CA 92130 INVESTMENT MANAGEMENT FEES 194885 BENTZ WHALEY FLESSNER & ASSOCIATES INC 7251 OHMS LANE MINNEAPOLIS MN 55439 ADVISORY SERVICES 176423 4 15174713 2407531 15174713 ADMINISTRATIVE FEES 561000 888249 888249 888249 3914527 3914527 2820 21045 87268 0 -84448 21045 -63403 21045 -84448 24008739 140077 22188504 170191 1820235 -30114 1790121 1790121 BLACKSTONE INVESTMENTS 531390 127835 127835 127835 21832042 909294 127835 5620200 11283505 11283505 373570 284560 89010 1506985 904222 602763 39038 3504 35534 233767 32371 201396 138091 34663 103428 16691 16691 35510 35510 679297 679297 354389 17699 336690 131728 41368 90360 77599 77599 132612 132612 57207 57207 157191 2354 154837 119757 118708 1049 117264 117264 16850 16850 ANNUAL GIVING 168996 168996 SEARCH & HIRE FEES 66926 66926 PLANNED GIVING 37586 37586 UBTI TAX 11952 11952 50593 12465 38128 15807104 11283505 2663822 1859777 9167083 9466994 13903231 15838011 232048 215868 1979381 1021040 979538 958341 138640927 160630198 26387859 28691941 1702430 2295477 191013116 218096830 249740 301754 10345437 12327436 10595177 12629190 X 3666278 6142106 53699660 71117688 123052001 128207846 180417939 205467640 191013116 218096830 X 6024938 18796311 228452 X 0 1 X 1 0 X 12097785 9504372 13946401 9544431 15174713 60267702 12097785 9504372 13946401 9544431 15174713 60267702 159736 60107966 4201990 3749868 3348656 3700296 3938392 18939202 60714 66665 71423 107481 306283 79513187 2006826 0.75590 0.74810 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2000 0 X X X X SEE PART XIII 0 163614930 5752008 23243031 4923558 1623877 3726971 182335563 164095354 4382943 4471306 4541579 1576744 3216350 163614930 135462712 9929241 32303544 5778069 5018981 2803093 164095354 126164972 5602676 14276761 5721596 2126457 2733645 135462711 133250183 10471802 -10251544 3147198 1509025 2649246 126164972 0.00940 0.70310 0.28750 1 0 100701 100701 1233854 574211 659643 644826 446829 197997 958341 PIMCO ALL ASSET FUNDS 16966807 F REAL ESTATE PARTNERSHIPS 11725134 F 28691941 INVESTMENTS HELD FOR OTHERS 10188380 DEFERRED GIFT INSTRUMENT LIABILITIES 2139056 12327436 X PART III, LINE 4: ARTWORK RECEIVED BY THE FOUNDATION HAS BEEN GIFTED FOR THE BENEFIT OF THE UNIVERSITY OF SOUTH DAKOTA. UNLESS INSTRUCTED OTHERWISE BY THE DONOR, OWNERSHIP IS TRANSFERRED TO THE UNIVERSITY OF SOUTH DAKOTA TO BE INCLUDED IN THEIR COLLECTIONS AND USED FOR RESEARCH, DISPLAY AND PRESERVED FOR FUTURE GENERATIONS UNDER THEIR POLICIES. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE FOUNDATION ATTEMPTS TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO USD PROGRAMS AND SCHOLARSHIPS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. APPROPRIATIONS ARE MADE ANNUALLY, BASED ON A DISTRIBUTION THAT IS CAREFULLY REVIEWED BY THE BOARD OF DIRECTORS. THE APPROPRIATIONS ARE USED FOR THE PURPOSES AS DEFINED IN THE AGREEMENT BETWEEN THE FOUNDATION AND DONOR ON THE UNDERLYING ENDOWMENT. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE INTERNAL REVENUE SERVICE (IRS) HAS RULED THAT THE ORGANIZATION IS A PUBLICLY SUPPORTED ORGANIZATION EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE ORGANIZATION IS REQUIRED TO FILE A RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) WITH THE IRS. IN ADDITION, THE ORGANIZATION IS SUBJECT TO INCOME TAX ON NET INCOME THAT IS DERIVED FROM BUSINESS ACTIVITIES THAT ARE UNRELATED TO ITS EXEMPT PURPOSE. THE ORGANIZATION FILES AN EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURN (FORM 990-T) WITH THE IRS TO REPORT ITS UNRELATED BUSINESS TAXABLE INCOME. IN ADDITION, THE ORGANIZATION IS SUBJECT TO TAX FILINGS REQUIRED BY VARIOUS STATE TAX AUTHORITIES. THE LLC AND LLC2 ARE SINGLE MEMBER LLC'S, THUS CONSIDERED BY THE IRS TO BE DISREGARDED ENTITIES THAT ARE NOT SUBJECT TO SEPARATE FILING REQUIREMENTS. THE ORGANIZATION 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 CONSOLIDATED FINANCIAL STATEMENTS. THE ORGANIZATION 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 ORGANIZATION'S FORM 990-T AND OTHER INCOME TAX FILINGS REQUIRED BY STATE TAX AUTHORITIES ARE NO LONGER SUBJECT TO TAX EXAMINATIONS FOR YEARS BEFORE 2007. EUROPE 0 0 INVESTMENTS 93528 0 0 0 0 0 0 93528 0 93528 1 0 0 1 1 0 1 UNIVERSITY OF SOUTH DAKOTA 414 EAST CLARK STREET VERMILLION SD 57069 466000364 501(C)(3) 11000063 8344 EXPERT OPINION, SELLING PRICE TRANSFER NONCASH GIFTS MADE TO USDF FOR THE BENEFIT OF USD. SCHOLARSHIPS, BUILDING, FACILITIES, OPERATIONAL AND PROGRAM SUPPORT SOUTH DAKOTA MEDICAL SCHOOL ENDOWMENT ASSOCIATION 2600 W 49TH STREET SIOUX FALLS SD 57105 466012680 501(C)(3) 25528 STUDENT LOAN SOUTH DAKOTA STATE UNIVERSITY PO BOX 2201 BROOKINGS SD 57007 466000364 501(C)(3) 9500 SCHOLARSHIPS THE FUND FOR ADVANCEMENT OF MEDICAL EDUCATION AND RESEARCH 1400 WEST 22ND ST SIOUX FALLS SD 57105 363432018 501(C)(3) 64113 OPERATIONAL AND PROGRAM SITTING BULL COLLEGE 9299 HWY 24 FORT YATES ND 58538 237373765 501(C)(3) 6250 OPERATIONAL AND PROGRAM SANFORD SCHOOL OF MEDICINE USD RESIDENCY CORPORATION 1400 WEST 22ND ST SIOUX FALLS SD 57105 460418678 501(C)(3) 148250 OPERATIONAL AND PROGRAM NORTHERN STATE UNIVERSITY 1200 S JAY ST ABERDEEN SD 57401 466000364 501(C)(3) 8000 SCHOLARSHIPS BLACK HILLS PLAYHOUSE PO BOX 2513 RAPID CITY SD 57709 460215866 501(C)(3) 8957 SCHOLARSHIPS, BUILDING & EQUIPMENT 8 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE UNIVERSITY OF SOUTH DAKOTA FOUNDATION ACCEPTS GIFTS AND MANAGES PAYMENTS FOR THE PURPOSES SET FORTH BY THE DONORS. THE FOUNDATION INFORMS THE UNIVERSITY OF SOUTH DAKOTA (USD) HOW MUCH IS AVAILABLE FOR EXPENDITURE AND WHAT THE CRITERIA ARE FOR THEIR USE (I.E. SCHOLARSHIP CRITERIA, RESEARCH CRITERIA, STUDENT OR FACULTY SUPPORT CRITERIA, ETC). USD MAKES THE DETERMINATION OF WHO THE SPECIFIC RECIPIENT WILL BE FOR THESE FUNDS, IN ACCORDANCE WITH THE CRITERIA, AND REQUESTS THE FOUNDATION TO ISSUE PAYMENT FOR THESE PURPOSES. BEFORE PAYMENT IS MADE, THE FOUNDATION VERIFIES THAT THE REQUESTED PAYMENT IS AN APPROPRIATE USE OF THE FUNDS AND THAT THE USD REPRESENTATIVE MAKING THE REQUEST IS AUTHORIZED TO DO SO. 1 X X X X 0 0 0 0 0 0 0 0 0 STEVE BROWN 196853 0 0 0 7987 0 0 0 11435 0 216275 0 0 0 X 1 2000 EXPERT OPINION X 2175 EXPERT OPINION X 41 2094249 AVG OF HIGH & LOW MKT PR X 1 300000 APPRAISED VALUE X CROPS 1 4938 MARKET PRICE X MISC & AUCTION ITEMS 4 4169 SELLING/COMPARABLE PRICE 0 0 1 0 NON REPORTING OF REVENUE: PART I, LINE 33: PUBLICLY TRADED SECURITIES INCLUDES THE PRESENT VALUE OF THE GIFTS RELATED TO THE FUNDING OF TWO CRATS DURING THE YEAR. FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE CONSISTS OF THE CHAIR, CHAIR-ELECT, PAST-CHAIR AND TWO ELECTED MEMBERS. THE EXECUTIVE COMMITTEE HAS BROAD AUTHORITY TO ACT ON BEHALF OF THE BOARD. APPROVAL OF AUTHORITY TO ACT FOR UNUSUAL TRANSACTIONS (I.E. PURCHASE/SALE OF PROPERTY) IS RECEIVED FROM THE BOARD OF DIRECTORS PRIOR TO THE ACTIONS. APPROVAL OF NORMAL BUSINESS ACTIONS IS RECEIVED FROM THE BOARD OF DIRECTORS AFTER THE COMMITTEE HAS ACTED. THE BOARD OF TRUSTEES APPROVES APPOINTMENTS TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11 THE CFO REVIEWS THE 990 IN DETAIL. AFTER HER REVIEW, THE 990 IS PROVIDED TO EACH BOARD MEMBER. IF THE 990 IS READY BY THE DAKOTA DAYS MEETING IN OCTOBER, IT WILL BE PRESENTED TO THE GOVERNING BOARD AT THAT TIME. APPROVAL WILL BE SOUGHT AT THAT MEETING. IF THE 990 IS NOT READY BY THAT TIME, IT WILL BE EMAILED TO THE GOVERNING BODY AND THEY WILL BE REQUIRED TO RESPOND WITH THEIR APPROVAL. THE 990 WILL NOT BE FILED UNTIL BOARD APPROVAL IS ATTAINED. FORM 990, PART VI, SECTION B, LINE 12C NEW BOARD MEMBERS SIGN A CONFLICT OF INTEREST STATEMENT UPON APPOINTMENT. OTHER BOARD MEMBERS ARE REQUIRED TO SIGN A CONFLICT OF INTEREST STATEMENT EVERY YEAR. THEY ARE ASKED TO NOTIFY THE FOUNDATION IMMEDIATELY IF A CONFLICT ARISES IN THE INTERIM. THIS PROCEDURE COVERS ALL VOTING MEMBERS OF THE BOARD OF TRUSTEES, EMPLOYEE-OFFICERS AND KEY STAFF MEMBERS. THE STATEMENTS ARE REVIEWED BY THE DIRECTOR OF ADMINISTRATION AND THE CFO. ANY CONFLICTS WOULD RESULT IN REQUIRING THE SPECIFIED BOARD MEMBER TO EXCUSE THEMSELVES FROM A VOTE THAT INVOLVES THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE BOARD SERVES AS THE PERSONNEL COMMITTEE. COMPENSATION AND BENEFITS FOR THE CEO ARE DETERMINED BY THIS COMMITTEE. WAGE AND BENEFIT ADJUSTMENTS FOR THE CEO ARE DETERMINED ANNUALLY BY THIS COMMITTEE. THE COMMITTEE GATHERS SALARY INFORMATION FROM EMPLOYMENT SURVEYS TO USE FOR COMPARISON. UPON HIRE, THE COMMITTEE ENTERS INTO AN EMPLOYMENT CONTRACT WITH THE PERSON CHOSEN FOR THE CEO POSITION. COMPENSATION FOR THE CFO IS RECOMMENDED TO THE EXECUTIVE BOARD BY THE CEO. THE EXECUTIVE BOARD APPROVES ALL COMPENSATION LEVELS AND WAGE ADJUSTMENTS. ACTIONS ARE DOCUMENTED IN THE MINUTES. THE PROCESS WAS LAST UNDERTAKEN IN JULY 2013. FORM 990, PART VI, SECTION C, LINE 19 THE FINANCIAL STATEMENTS ARE AVAILABLE ON THE WEBSITE. ALL DOCUMENTS ARE AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: CHANGE IN GIFT ANNUITIES & DEFERRED GIFTS 228,452. USDF LLC 1110 N DAKOTA PO BOX 5555 VERMILLION SD 57069 466018891 HOLD AND MANAGE REAL ESTATE FOR FOUNDATION SD -140210 335377 UNIVERSITY OF SOUTH DAKOTA FOUNDATION USDF2 LLC 1110 N DAKOTA PO BOX 5555 VERMILLION SD 57069 466018891 HOLD AND MANAGE AIRPLANE FOR FOUNDATION SD 49655 1025640 UNIVERSITY OF SOUTH DAKOTA FOUNDATION