2013-11-13T09:22:11-06:00 2012-12-31 450250958 EIDE BAILLY LLP 4310 17TH AVE S PO BOX 2545 FARGO ND 581082545 990 2012-01-01 237120898 North Dakota State University Development Foundation NORT 7012316800 1241 N University Drive Fargo ND 58102 Carol Gustad 7012316800 2013-11-08 1 LISA CHAFFEE CPA P00193453 7012398500 2013-11-08 2012 2016-03-07 17:11:31Z NDSU Development FoundationAlumni Association Douglas P Mayo 1241 N University Drive Fargo ND 58102 67284747 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 60 125 325 -42588 -44634 14028816 16530113 253905 465075 630006 2531746 -369876 -169580 14542851 19357354 3525362 10820891 0 0 1321470 2767161 0 0 1516012 786715 1566518 5633547 15154570 8909304 4202784 197098628 210417200 36881634 37040363 160216994 173376837 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 8007369 8007369 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. 2813522 2813522 Scholarships and awards to students enrolled at North Dakota State University selected by independent scholarship committees. 949242 477498 Alumni records, newsletters and special events such as Homecoming, city alumni/student exchanges. Sponsor University programs such as Harvest Bowl and Celebration of Excellence. 11770133 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 0 0 0 0 1 1 1 0 0 1 99 0 1 125 1 1 1 0 0 0 0 1 1 0 0 0 0 X 61 60 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 0 1 0 0 X X Carol Gustad 7012316854 1241 University Drive N Fargo ND 58102 Jonal Uglem 3.00 X X 0 0 0 Ronald G Olson 2.00 X X 0 0 0 Ryn Pitts 4.00 X X 0 0 0 Steven J Swiontek 2.00 X X 0 0 0 John S Wold 2.00 X X 0 0 0 Sally Berrell 1.00 X 0 0 0 Dr Dean Bresciani 1.00 X 0 0 0 Barbara Burgum 0.50 X 0 0 0 Julie Burgum 0.50 X 0 0 0 Robert E Challey 6.00 X 0 0 0 Paul Cossette 2.00 X 0 0 0 Terrence C Dahl 0.50 X 0 0 0 Spencer Duin 3.00 X 0 0 0 Dave Ekman 0.50 X 0 0 0 Larry Ellingson 0.50 X 0 0 0 Jane Bale Emison 1.00 X 0 0 0 Richard J Erickson 0.50 X 0 0 0 Susan Freeman 0.50 X 0 0 0 JoAnn Garaas Skabo 1.00 X 0 0 0 Kristi Hanson 1.00 X 0 0 0 Michael E Hanson 1.00 X 0 0 0 Terry J Hanson 0.50 X 0 0 0 Robert Heller 2.00 X 0 0 0 Larry Holweger 1.00 X 0 0 0 Paul Horn 0.50 X 0 0 0 James R Howe 3.00 X 0 0 0 Frank Jennings 2.00 X 0 0 0 Nancy Johnson 0.50 X 0 0 0 Barbara Jones 0.50 X 0 0 0 Nancy Johnson Jordheim 1.00 X 0 0 0 John R Klai II 0.50 X 0 0 0 Richard W Kloubec 0.50 X 0 0 0 Terrance Kristensen 1.00 X 0 0 0 Russel J Kuzel 1.00 X 0 0 0 Robert Lervick 1.00 X 0 0 0 Jane Lillestol 0.50 X 0 0 0 Brady Lipp 0.50 X 0 0 0 Thomas E Lundeen 1.00 X 0 0 0 Russell D Maring 0.50 X 0 0 0 Richard Marsden 1.00 X 0 0 0 Dr James Meier 1.00 X 0 0 0 Dr Larry Milsow 0.50 X 0 0 0 Dr Robert C Montgomery 0.50 X 0 0 0 Connie Nicholas 1.00 X 0 0 0 David Olig 0.50 X 0 0 0 John Q Paulsen 0.50 X 0 0 0 Daniel S Paulson 0.50 X 0 0 0 Gary Paulsrud 1.00 X 0 0 0 Keith Peltier 2.00 X 0 0 0 Carl Pfiffner 0.50 X 0 0 0 Jan Promersberger 1.00 X 0 0 0 James Roers 0.50 X 0 0 0 Eileen Scheel 0.50 X 0 0 0 Jeffrey Schlossman 0.50 X 0 0 0 David J Selvig 0.50 X 0 0 0 Mary Lou Shott 4.00 X 0 0 0 John W Shotwell 0.50 0.50 X 0 0 0 Kenneth Skuza 2.00 X 0 0 0 Terry Stroh 1.00 X 0 0 0 Charles Ulmer 3.00 X 0 0 0 Jeffry Volk 0.50 X 0 0 0 James S Wieland 0.50 X 0 0 0 Mary Zweber 1.00 X 0 0 0 James C Miller 50.00 X 207129 0 40423 Carol Gustad 50.00 X 94860 0 26345 Sherri Schmidt 60.00 X 132662 0 31627 M Scott Barrett 40.00 X 120115 0 32422 Leo Ringey 40.00 X 117282 0 29283 Jason Wohlman 50.00 X 134048 0 24349 806096 0 184449 5 0 1 0 Commonfund PO Box 5493 Boston MA 02206 Investment Fees 126016 1 317950 16212163 2645357 16530113 Alumni Records Fees 611710 275000 275000 Program Event Revenue 611710 165540 162740 2800 Miscellaneous Income 900099 24535 24535 465075 1837396 -71729 1909125 215136 215136 3056061 322919 3460275 326511 -404214 -3592 -407806 -3592 -404214 44558162 43863812 694350 694350 694350 254906 317950 274172 -19266 -19266 33384 2623 30761 16015 14746 Alumni Travel 561500 7564 7564 Alumni Insurance 524298 4031 4031 11595 19357354 474698 -42588 2395131 10820891 10820891 370617 62178 246261 62178 1694784 286977 555237 852570 136508 26044 44095 66369 424035 71902 171854 180279 141217 22978 54282 63957 8923 425 8498 48333 48333 126016 126016 84214 34502 49712 92534 12947 2795 76792 249357 41553 153235 54569 99338 252 73188 25898 107986 107986 157162 43144 41704 72314 70263 17044 47714 5505 56049 56049 157555 157555 30474 30350 124 Public Relations/Donor 125860 71644 27650 26566 Event Expense 80061 60279 19782 Dues & Subscriptions 15547 253 8791 6503 Income Taxes 4143 4143 52703 39565 10532 2606 15154570 11770133 1868425 1516012 13285943 17277482 24121921 24373798 85903 251693 2811 2495635 1297248 1000 4132 73108 50238 64373811 16121322 50223896 48252489 94857114 107881514 11404197 10517654 549911 508141 197098628 210417200 1534529 2900019 1467422 1566230 113000 25083972 22590917 161362 217915 1469105 2474443 5252 7159992 7177839 36881634 37040363 X 28916348 29611291 41059591 48524994 90241055 95240552 160216994 173376837 197098628 210417200 X 4202784 9346471 -389412 X 0 1 X 1 0 X 10994366 10344161 28508432 14028816 16530113 80405888 10994366 10344161 28508432 14028816 16530113 80405888 26304662 54101226 5115593 4154028 5051132 2493783 5431512 22246048 3576 10269 13845 3608 1674 5282 102671063 1449580 0.52690 0.55670 X Schedule A, Part IV, Supplemental Information: Schedule A, Part II, Section A and Section B, Column (d): Amounts reported in Schedule A, Part II, Section A and Section B, Column (d) 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 Explanation of Lobbying Activities: 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 96182964 7529241 10535512 2212956 804363 1630328 109600070 103467572 3370336 -8114756 1161484 356415 1022289 96182964 96216420 3901276 12638573 950238 111806031 90557979 4398652 5716890 1734701 1178343 1544057 96216420 110141755 5524006 -20289712 1821373 1578817 1417880 90557979 0.07690 0.80450 0.11860 0 0 3323182 3323182 53127188 11885463 41241725 3476515 1172679 2303836 3566374 2874275 692099 880552 188905 691647 48252489 Gift Annuities Payable 3149130 Trusts Payable 3713875 Due To Fossum 183952 Special Assessments Payable 130882 7177839 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 University departments and organizations. Investments held for others represent the portion of charitable remainder unitrusts for which the Foundation holds the assets, but is not the beneficiary. Description of Intended Use of Endowment Funds: 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. Description of Uncertain Tax Positions Under FIN 48: 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 2009. Central America and the Caribbean - Investments 22173364 0 0 0 0 0 0 22173364 0 22173364 1 0 0 1 0 0 BBB Auction 447144 283875 163269 163269 39121 BBB Dinner 76350 76350 45963 5252 1 49362 34075 15287 1000 8019 2633 8915 572856 317950 254906 163269 1000 53982 2633 53288 274172 -19266 1 North Dakota State University 1340 Administration Ave Fargo ND 58102 456002439 NDSU 10820891 Cash grants provided for student scholarships, faculty support, departmental support for equipment, research, supplies, travel, etc. 1 0 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: Grants are paid to or at the direction of North Dakota State University. We provide grants in accordance with applicable donor restrictions. Otherwise 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 203397 0 0 0 3732 0 20590 0 20993 0 248712 0 0 0 Sherri Schmidt 132662 0 0 0 0 0 12923 0 19630 0 165215 0 0 0 M Scott Barrett 117630 0 0 0 2485 0 12065 0 21216 0 153396 0 0 0 Jason Wohlman 129177 0 0 0 4871 0 9850 0 15262 0 159160 0 0 0 Part I, Line 1a Country Club memberships for Jim and Jason for fundraising purposes. A Cass County ND 456002205 147740AW4 2003-12-18 4354296 Finance Construction of Equine Building 0 0 0 B Cass County ND 456002205 2005-12-20 3500000 Finance Construction & Equipment of Offices 0 0 0 C North Dakota State University Development Foundation 237120898 2008-09-15 900000 Finance Construction, University President Home 0 1 0 D North Dakota State University Development Foundation 237120898 2010-12-17 5650000 Payment of loan incurred for renovation of bldg for classrooms and offices 0 0 0 A 1110000 4354296 86422 45614 4222260 2004 0 0 1 1 B 3500000 18500 3481500 2007 0 0 1 1 C 900000 900000 2009 0 0 1 1 D 5650000 31489 5618511 2010 0 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 C 0 0 0 0 0 0 1 D 0 0 0 0 0 0 1 A 0 0 0 1 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 C 0 1 0 0 0 0 0 0 0 D 0 1 0 0 0 0 0 0 0 A 1 B 1 C 1 D 1 Schedule K Part IV, Arbitrage, Line 2c Date Rebate Computation Performed Issuer Name: Cass County, ND Date the Rebate Computation was Performed: 03/18/2009 A City of Fargo ND 456002069 307522BC5 2012-05-23 12145894 Refinance Construction Loan 0 0 0 A 12145894 11983655 162239 2012 1 0 1 1 A 0 0 0 0 0 0 1 A 0 1 0 0 0 0 0 0 0 A 1 James C Miller President and CEO Personal purchase on company credit card. Loan was repaid after year end. X 1975 1975 0 0 0 Sherri Schmidt Vice President for Alumni Relations Personal purchase on company credit card. Loan was repaid after year end. X 138 138 0 0 0 Leo Ringey Senior Director of Development Personal purchase on company credit card. Loan was repaid after year end. X 698 698 0 0 0 2811 X 1 48000 Appraised Value X 126603 Cost of donated property X 45 2446058 Average High/Low X 1 24696 Appraised Value 2 0 1 0 Form 990, Part VI, Section A, line 1 The Organization's Executive Committee consists of six trustee officers of the Organization and ten other trustees. The President of North Dakota State University, the CEO & Vice President of the NDSU Alumni Association are non-voting ex-officio 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 by-laws. Form 990, Part VI, Section A, line 2 Bob Challey and Jim Roers have a business relationship. Jeff Schlossman and James S Wieland have a business relationship. Julie Burgum and Barbara Burgum 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. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 9: Tax Income from K-1's -309,352. Change in Split Interest Agreements -420,060. Fossum Transfer 340,000. NDSU Alumni Association 1241 University Dr N Fargo ND 58102 450173089 Alumni Relations ND 501(c)(3) Line 5 North Dakota State University Development Foundation 1 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 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 1 Fossum Foundation Inc S 340000 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.