University Of North Dakota Foundation in Grand Forks, North Dakota (ND)

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University Of North Dakota Foundation
Employer Identification Number (EIN)450348296
Name of OrganizationUniversity Of North Dakota Foundation
AddressPO BOX 8157, Grand Forks, ND 58202
ActivitiesGifts, grants, or loans to other organizations
SubsectionCharitable Organization, Educational Organization
Ruling Date11/1978
DeductibilityContributions are deductible
FoundationOrganization which operates for benefit of college or university and is owned or operated by a governmental unit
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2014
Assets$50,000,000 to greater
Income$50,000,000 to greater
Filing Requirement990 (all other) or 990EZ return
Asset Amount$335,713,355
Amount of Income$77,865,131
Form 990 Revenue Amount$30,752,379
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Single Organization Support


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Amount of income in 2014: $77,865,131
This organization: 

 $77,865,131
Other organizations performing similar types of work: 

 $7,370,772

Assets in 2014: $335,713,355
University Of North Dakota Foundation: 

 $335,713,355
Other organizations performing similar types of work: 

 $26,018,213

Expenses in 2014: $21,980,666
This organization: 

 $21,980,666
Other organizations performing similar types of work: 

 $2,570,274

Income to expenses ratio in 2014: 3.5
University Of North Dakota Foundation: 

 3.5
Other organizations performing similar types of work: 

 2.5

Expenses allocated to program services in 2007: 76.8%
This organization: 

 76.8%
Other organizations performing similar types of work: 

 84.4%

Employees paid over $100,000 in 2014: 7.3%
This organization: 

 7.3%
Other organizations performing similar types of work: 

 0.0%

Grants share in income in 2014: 67.3%
This organization: 

 67.3%
Other organizations performing similar types of work: 

 27.0%

Financial snapshot ($)

Revenue for 2014

Assets at the end of 2014

Functional expenses for 2014

Support schedule

Checklist
201220132014
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?YesYes
Is the organization required to complete Schedule B, Schedule of Contributors?YesYes
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?NoNo
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?YesYes
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?NoNo
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?NoNo
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?NoNo
Did the organization maintain collections of works of art, historical treasures, or other similar assets?YesYes
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?YesYes
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?YesYes
Did the organization report an amount for land, buildings, and equipment?YesYes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?YesYes
Did the organization report an amount for investments-program related that is 5% or more of its total assets?NoNo
Did the organization report an amount for other assets that is 5% or more of its total assets?NoNo
Did the organization report an amount for other liabilities?YesYes
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?YesYes
Did the organization obtain separate, independent audited financial statements for the tax year?NoNo
Was the organization included in consolidated, independent audited financial statements for the tax year?YesYes
Is the organization a school described in section 170(b)(1)(A)(ii)?NoNo
Did the organization maintain an office, employees, or agents outside of the United States?NoNo
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?YesYes
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?NoNo
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?NoNo
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?YesYes
Did the organization report more than $15,000 total of fundraising event gross income and contributions?YesNo
Did the organization report more than $15,000 of gross income from gaming activities?NoNo
Did the organization operate one or more hospital facilities?NoNo
Did the organization attach a copy of its audited financial statements?NoNo
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?YesYes
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?NoNo
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?YesYes
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?YesYes
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?NoNo
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?NoNo
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?YesYes
Did the organization engage in an excess benefit transaction with a disqualified person during the year?NoNo
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?NoNo
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?NoNo
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?NoNo
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?NoNo
A family member of a current or former officer, director, trustee, or key employee?NoNo
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?YesYes
Did the organization receive more than $25,000 in non-cash contributions?YesYes
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?NoNo
Did the organization liquidate, terminate, or dissolve and cease operations?NoNo
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?NoNo
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?NoNo
Was the organization related to any tax-exempt or taxable entity?YesYes
Did the organization have a controlled entity within the meaning of section 512(b)(13)?NoNo
Did the organization make any transfers to an exempt non-charitable related organization?NoNo
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?NoNo
Statements Regarding Other IRS Filings and Tax Compliance
201220132014
The number reported in Box 3 of Form 109638102
The number of Forms W-2G00
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?NoNo
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return57110
Did the organization file all required federal employment tax returns?YesYes
Did the organization have unrelated business gross income of $1,000 or more during the year?YesYesYes
Has it filed a Form 990-T for this year?YesYes
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?NoNo
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?NoNo
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?NoNo
Did the organization file Form 8886-T?NoNo
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?YesNo
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?YesNo
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?YesYes
Did the organization notify the donor of the value of the goods or services provided?YesYes
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?NoNo
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?NoNo
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?NoNo
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?NoNo
Did the sponsoring organization make any taxable distributions under section 4966?NoNo
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?NoNo
Initiation fees and capital contributions$0$0$0
Gross receipts for public use of club facilities $0$0$0
Gross income from members or shareholders$0$0$0
Gross income from other sources$0$0$0
Is the organization filing Form 990 in lieu of Form 1041?NoNo
The amount of tax-exempt interest received or accrued during the year$0$0
Is the organization licensed to issue qualified health plans in more than one state?NoNo
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans$0$0
The amount of reserves on hand$0$0
Did the organization receive any payments for indoor tanning services during the tax year?NoNo
Has it filed a Form 720 to report these payments?NoNo
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
201220132014
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization$649,179$722,720
Total reportable compensation from related organizations$32,169$45,809
Total estimated amount of other compensation from the organization and related organizations$118,787$131,241
Total number of individuals who received more than $100,000 of reportable compensation from the organization55
Total number of independent contractors who received more than $100,000 of compensation from the organization93
Statement of Revenue
201220132014
Total revenue$32,597,185$35,438,753$30,752,379
Contributions, Gifts, Grants and Other Similar Amounts$26,057,924$28,085,122$20,684,929
Program Service Revenue$2,325,395$3,026,938$3,134,189
561000$2,507,984$2,480,088
561000$402,310$463,344
532000$116,644$190,757
All other program service revenue$0$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$3,668,190$3,769,751$6,160,957
Income from investment of tax-exempt bond proceeds$0$0$0
Royalties$409,384$501,488$621,426
Net rental income$215,655$9,342$3,962
Gross rents (Real / Personal)$539,106 / $0$119,909 / $0$194,750 / $0
Less: rental expenses (Real / Personal)$323,451 / $0$110,567 / $0$190,788 / $0
Rental income or (loss) (Real / Personal)$215,655 / $0$9,342 / $0$3,962 / $0
Net gain/loss from sales of assets other than inventory$-79,363$127,477$146,916
Gross amount from sales of assets other than inventory (Securities / Other)$292,991,405 / $704$37,398,168 / $17,051$47,068,880 / $0
Less: cost or other basis and sales expenses (Securities / Other)$293,060,165 / $11,307$37,282,304 / $5,438$46,921,964 / $0
Gain or (loss) (Securities / Other)$-68,760 / $-10,603$115,864 / $11,613$146,916 / $0
Net income/loss from fundraising events$0$-81,365$0
Net income/loss from gaming activities$0$0$0
Net income/loss from sales of inventory$0$0$0
Miscellaneous Revenue$0$0$0
Statement of Functional Expenses
201220132014
Total functional expenses$14,902,600$19,492,060$21,980,666
Grants and other assistance to domestic organizations and domestic governments$14,422,323$15,818,199
Grants and other assistance to domestic individuals$0$0
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$0$0
Benefits paid to or for members$0$0
Compensation of current officers, directors, trustees, and key employees$293,732$369,581$470,198
Compensation not included above, to disqualified persons$0$0
Other salaries and wages$1,742,101$2,057,410$2,042,980
Pension plan accruals and contributions$207,154$210,496
Other employee benefits$284,493$262,124
Payroll taxes$143,415$168,814$174,044
Fees for services (non-employees)
Management$0$0
Legal$7,912$31,586
Accounting$57,923$83,907
Lobbying$1,921$0
Professional fundraising services$380,392$426,240$200,568
Investment management fees$0$753,085
Other$66,397$207,260
Advertising and promotion$27,709$36,528
Office expenses$84,435$220,797
Information technology$167,182$141,729
Royalties$0$0
Occupancy$624,918$770,225
Travel$251,017$238,988
Payments of travel or entertainment expenses for any federal, state, or local public officials$0$0
Conferences, conventions, and meetings$120,652$230,455
Interest$0$0
Payments to affiliates$0$0
Depreciation, depletion, and amortization$22,780$11,911
Insurance$30,003$30,126
Other expenses$90,904$43,587
Other expenses$2,292$1,873
Balance Sheet
201220132014
Total assets$246,059,271$302,269,827$335,713,355
Cash - non-interest-bearing$3,267,454$3,139,322
Savings and temporary cash investments$1,508,076$1,072,437
Pledges and grants receivable, net$38,332,124$35,220,721
Accounts receivable, net$0$8,899,089
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$0$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations$0$0
Notes and loans receivable, net$10,847,361$72,175
Inventories for sale or use$0$0
Prepaid expenses and deferred charges$98,727$196,796
Land, buildings, and equipment: cost or other basis$17,296,611$17,445,760
Investments - publicly traded securities$129,331,850$157,028,724
Investments - other securities$99,898,471$110,949,178
Investments - program-related$0$0
Intangible assets$0$0
Other assets$1,689,153$1,689,153
Total liabilities$31,003,068$53,300,895$57,391,321
Accounts payable and accrued expenses$1,346,978$661,712
Grants payable$0$0
Deferred revenue$0$0
Tax-exempt bond liabilities$9,901,980$3,200,297$5,382,614
Escrow or custodial account liability$26,351,174$28,462,924
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons$0$0
Secured mortgages and notes payable to unrelated third parties$0$6,080,000$6,210,000
Unsecured notes and loans payable to unrelated third parties$0$0$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)$16,322,446$16,674,071
Total net assets or fund balances$215,056,203$248,968,932$278,322,034
Unrestricted net assets$27,319,058$43,300,259
Temporarily restricted net assets$55,425,932$48,580,682
Permanently restricted net assets$166,223,942$186,441,093
Capital stock or trust principal, or current funds$0$0
Paid-in or capital surplus, or land, building, or equipment fund$0$0
Retained earnings, endowment, accumulated income, or other funds$0$0$0
Reason for Public Charity Status (for 2014)
The organization is not a private foundation because it is:A federal, state, or local government or governmental unit described in section 170(b)(1)(A)(v)
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2010 - 2014)
2010 - 2014 Total
Public Support$110,245,828
Subtotal Support$119,844,354
Gifts, grants, contributions, and membership fees received$119,844,354
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
The portion of total contributions by each person (other than a governmental unit or publicly supported organization) that exceeds 2% of the total support$9,598,526
Total Support$148,951,445
Public Support$119,844,354
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$21,990,224
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income. Do not include gain or loss from the sale of capital assets$7,116,867
Gross receipts from related activities, etc.$6,161,127
Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$15,199,245$14,906,108$9,260,602$16,025,557$15,517,862$24,502,227$43,386,792$32,574,585
Contributions, gifts, grants, and similar amounts received$8,463,208$8,496,405$5,339,435$7,666,432$8,826,873$17,885,596$36,025,147$26,481,775
Contributions to donor advised funds$0$0
Direct public support$8,463,208$8,496,405$5,339,435$7,666,432$8,826,873$17,885,596$36,025,147$26,481,775
Indirect public support$0$0$0$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0$0$0$0
Program service revenue including government fees and contracts$878,196$728,889$1,057,068$1,593,635$1,126,082$1,375,018$1,216,160$1,227,559
Membership dues and assessments$0$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$0$0$0$0$0$0$0$117,753
Dividends and interest from securities$2,569,957$2,239,281$2,093,719$2,745,145$348,318$1,496,226$3,039,773$2,795,171
Net rental income or (loss)$155,039$113,738$44,251$45,173$51,033$52,911$52,121$20,500
Gross rents$232,959$165,584$57,268$58,555$60,345$63,868$63,868$31,934
Less: rental expenses$77,920$51,846$13,017$13,382$9,312$10,957$11,747$11,434
Other investment income$0$0$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$1,247,572$-193,468$-410,005$3,989,259$3,402,918$2,052,623$85,034$-1,027,696
Gross amount from sales of assets other than inventory$1,247,572$0$0$3,989,259$3,436,180$2,094,908$107,118$661,318
Less: cost or other basis and sales expenses$0$193,468$410,005$0$33,262$42,285$22,084$1,689,014
Net income or (loss) from special events and activities$0$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0$0
Other revenue$1,885,273$3,521,263$1,136,134$-14,087$1,762,638$1,639,853$2,968,557$2,959,523
Total expenses$7,589,318$7,509,121$7,921,328$8,781,356$8,125,368$9,151,649$16,601,799$16,298,033
Program services$7,405,734$7,178,931$7,519,029$8,366,855$7,445,306$8,069,617$13,078,080$12,510,326
Management and general$0$0$0$0$0$0$1,603,371$1,525,223
Fundraising$183,584$330,190$402,299$414,501$680,062$1,082,032$1,920,348$2,262,484
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$107,689,577$102,571,254$97,813,852$107,866,452$112,393,653$130,190,508$168,514,393$179,753,153
Excess or (deficit) for the year$7,609,927$7,396,987$1,339,274$7,244,201$7,392,494$15,350,578$26,784,993$16,276,552
Net assets or fund balances at beginning of year$115,209,653$107,689,577$102,571,254$97,813,852$107,866,452$112,393,653$130,190,508$168,514,393
Other changes in net assets or fund balances$-15,130,003$-12,515,310$-6,096,676$2,808,399$-2,865,293$2,446,277$11,538,892$-5,037,792
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$16,298,033$12,510,326$1,525,223$2,262,484
Grants paid from donor advised funds$0
Other grants and allocations$6,820,657
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$312,472$16,413$148,345$147,714
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$1,602,184$0$537,249$1,064,935
Pension plan contributions not included above$118,523$0$15,157$103,366
Employee benefits not included above$463,975$197,205$110,481$156,289
Payroll taxes$135,409$0$52,946$82,463
Professional fundraising fees$137,952$0$0$137,952
Accounting fees$54,335$0$54,335$0
Legal fees$450,338$420,305$10,302$19,731
Supplies$236,574$198,750$30,813$7,011
Telephone$33,728$1,446$7,937$24,345
Postage and shipping$87,779$28,244$9,393$50,142
Occupancy$101,147$15,147$43,000$43,000
Equipment rental and maintenance$441,523$411,027$29,543$953
Printing and publications$251,479$147,931$8,600$94,948
Travel$539,254$407,256$9,931$122,067
Conferences, conventions, and meetings$57,410$40,257$8,270$8,883
Interest$556,902$555,501$1,401$0
Depreciation, depletion, etc.$149,818$0$145,451$4,367
Other expenses not covered above$3,746,574$3,250,187$302,069$194,318
Balance Sheets
20002001200220032004200520062007
Total assets$126,106,065$120,816,086$123,735,291$138,098,640$143,626,117$161,919,790$205,540,982$223,923,599
Cash - non-interest-bearing$291,216$552,194$475,233$60,653$589,462$832,279$376,427$0
Savings and temporary cash investments$0$0$0$0$0$0$0$4,819,671
Accounts receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$0
Pledges receivable less allowance for doubtful accounts$3,859,266$2,950,547$3,123,029$2,930,392$2,999,289$3,380,741$19,067,694$25,779,234
Grants receivable$0$0$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$1,683,849$2,434,253$10,897,903$10,044,132$12,724,169$19,907,597$12,304,509$13,755,281
Inventories for sale or use$0$0$0$0$5,374$2,615$15,874$8,820
Prepaid expenses and deferred charges$3,183$19,226$18,233$13,182$9,784$11,717$16,252$18,009
Investments - publicly-traded securities$0$0
Investments - other securities$109,891,792$107,741,505$100,983,849$116,624,893$120,125,170$130,681,236$167,573,100$170,762,818
Investments - land, buildings, and equipment less accumulated depreciation$6,985,248$3,588,777$3,744,746$4,161,234$3,125,188$3,178,804$2,495,668$5,243,759
Investments - other$738,357$750,813$3,429,478$791,608$794,308$805,492$841,786$3,420,085
Land, buildings, and equipment less accumulated depreciation$149,630$150,591$1,062,820$765,677$420,951$268,471$201,859$115,922
Other assets, including program-related investments$2,503,524$2,628,180$0$2,706,869$2,832,422$2,850,838$2,647,813$0
Total liabilities$18,416,488$18,244,832$25,921,439$30,232,188$31,232,464$31,729,282$37,026,589$44,170,446
Accounts payable and accrued expenses$3,001,447$3,289,647$3,777,874$3,959,309$4,402,074$4,323,449$4,063,881$4,588,878
Grants payable$0$0$0$0$0$0$0$0
Deferred revenue$750,000$500,000$250,000$0$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0$11,015,000
Mortgages and other notes payable$1,154,619$2,124,036$10,279,560$13,811,655$13,319,219$12,861,849$12,060,000$2,678,700
Other liabilities$13,510,422$12,331,149$11,614,005$12,461,224$13,511,171$14,543,984$20,902,708$25,887,868
Total liabilities and net assets/fund balances$126,106,065$120,816,086$123,735,291$138,098,640$143,626,117$161,919,790$205,540,982$223,923,599
Total net assets or fund balances$107,689,577$102,571,254$97,813,852$107,866,452$112,393,653$130,190,508$168,514,393$179,753,153
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$15,199,245$14,906,108$9,260,602$16,025,557$15,517,862$24,502,227$43,386,792$32,574,585
Total revenue, gains, and other support per audited financial statements$15,277,165$14,957,954$9,317,870$16,084,112$15,578,207$30,374,570$55,560,648$31,203,776
Other expenses$77,920$51,846$57,268$58,555$60,345$6,904,451$11,690,739$-1,370,809
Net unrealized gains on investments$0$0$0$0$0$3,031,019$11,538,892$-1,571,292
Donated services and use of facilities$0$0$0$0$0$0$0$189,049
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$77,920$51,846$57,268$58,555$60,345$3,873,432$151,847$11,434
Other revenue$0$0$0$0$0$1,032,108$-483,117$0
Investment expenses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$1,032,108$-483,117$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$7,589,318$7,509,121$7,921,328$8,781,356$8,125,368$9,151,649$16,601,799$16,298,033
Total expenses and losses per audited financial statements$22,563,507$7,560,967$7,934,345$8,794,738$8,134,680$12,577,715$17,236,763$15,751,807
Other revenue$14,974,189$51,846$13,017$13,382$9,312$3,426,066$1,278,754$221,404
Donated services and use of facilities$0$0$0$0$0$0$0$189,049
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$14,896,269$0$0$0$0$0$0$0
Other$77,920$51,846$13,017$13,382$9,312$3,426,066$1,278,754$32,355
Other expenses$0$0$0$0$0$0$643,790$767,630
Investment expenses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$643,790$767,630
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
40$164,127$26,854$0
40$107,353$14,138$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings22
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?Yes
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 2006104
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$4,865,251$1,227,559
Program service revenue
Program service revenue 1000000$000$0$1,227,559
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$117,753$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$2,795,171$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$0Real property rental income that does not depend on the income or profits derived by the person leasing the property and is excluded by section 512(b)(3)$20,500$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$-1,027,696$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$0Section 501(c)(3) organization - Income from an activity carried on primarily for the convenience of the organization's members, students, patients, visitors, officers, or employees (hospital parking lot or museum cafeteria, for example) (section 513(a)(2))$2,959,523$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$115,839$20,956$0
$100,304$19,309$0
$98,374$17,642$0
$94,477$18,249$0
$90,015$17,823$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization operated for the benefit of a college or university
Support Schedule
19992000200120022003200420052006
Total$20,273,688$11,911,361$11,464,575$8,490,222$12,005,212$10,301,273$20,756,840$23,255,933
Gifts, grants, and contributions received$16,503,157$8,463,208$8,496,405$5,339,435$7,666,432$8,826,873$17,885,596$19,000,000
Membership fees received$0$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$2,923,100$2,569,957$2,239,281$2,093,719$2,745,145$348,318$1,496,226$3,039,773
Net income from unrelated business activities not included above$0$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0$0
Other income$847,431$878,196$728,889$1,057,068$1,593,635$1,126,082$1,375,018$1,216,160
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Indiana University FoundationPO BOX 500, Bloomington, IN 47402-0500IN1938-03$5,778,302,055
2Harvard Management Private Equity Corporation600 Atlantic Avenue, Boston, MA 02210-2203MA1991-03$2,589,355,187
3Trustees For Harvard University1033 Massachusetts Ave Ste 3, Cambridge, MA 02138-5366MA1958-09$2,203,725,918
4Gothic Corporation280 S Mangum St Ste 210, Durham, NC 27701-3675NC1993-09$1,640,573,970
5City University Construction Fund555 W 57th St Fl 16, New York, NY 10019-2925NY1967-08$1,614,186,948
6University Of Wisconsin Foundation1848 University Ave, Madison, WI 53726-4090WI1948-10$1,195,740,588
7University Of Minnesota Foundation200 Oak St Se Ste 500, Minneapolis, MN 55455-2010MN1964-07$1,159,865,226
8University Of Illinois Foundation1305 West Green Street, Urbana, IL 61801-2900IL1948-06$1,061,807,527
9Arizona State University Foundation For A New American UniversityPO BOX 2260, Tempe, AZ 85280-2260AZ1958-05$1,044,747,994
10Phemus Corporation600 Atlantic Avenue, Boston, MA 02210-2203MA1989-08$1,026,755,378
11The Ucla Foundation201 Gseis Bldg, Los Angeles, CA 90095CA1949-10$852,716,683
12University Of Nebraska FoundationPO BOX 82555, Lincoln, NE 68501-2555NE1963-04$774,444,573
13Harvard Private Capital Realty Inc600 Atlantic Avenue, Boston, MA 02210-2203MA1992-07$732,195,316
14Southwestern Medical Foundation3963 Maple Ave Ste 100, Dallas, TX 75219-3210TX1940-05$630,509,738
15Georgia Tech Foundation Inc, Birmingham Georgia Tech ClubPo Box 59193, Birmingham, AL 35209AL1944-07$626,430,982
16University Of California San Francisco Foundation220 Montgomery St Fl 5, San Francisco, CA 94104-3412CA1992-11$593,112,336
17North Dakota State University Development Foundation1241 N Univ Dr, Fargo, ND 58105ND1971-07$131,738,234
18University Of North Dakota FoundationPO BOX 8157, Grand Forks, ND 58202ND1978-11$77,865,131
19Williston State College FoundationPO BOX 1286, Williston, ND 58802-1286ND1963-10$14,206,131
20The Bismarck State College FoundationPO BOX 5587, Bismarck, ND 58506-5587ND1980-09$8,100,566
Number of organizations performing similar types of work
Alaska1
Alabama13
Arkansas8
Arizona5
California78
Colorado11
Connecticut7
District of Columbia6
Delaware5
Florida38
Georgia18
Hawaii2
Iowa15
Idaho6
Illinois33
Indiana13
Kansas16
Kentucky17
Louisiana12
Massachusetts19
Maryland10
Maine2
Michigan15
Minnesota17
Missouri7
Mississippi4
Montana5
North Carolina30
North Dakota4
Nebraska5
New Hampshire2
New Jersey12
New Mexico6
Nevada2
New York42
Ohio32
Oklahoma11
Oregon7
Pennsylvania19
Rhode Island6
South Carolina8
South Dakota2
Tennessee8
Texas52
Utah4
Virginia29
Washington10
Wisconsin15
West Virginia6
Wyoming2
International4
Total701

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