North Dakota State University Foundation

EIN: 237120898 501(c)(3) Education

Fargo, ND

Total Revenue
$102,362,441
Total Expenses
$52,535,207
Total Assets
$688,411,663
Net Assets
$640,658,595
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1971
Legal Domicile
ND
Principal Officer
John R Glover
Phone
7012316800
Tax Period
2024-01-01 to 2024-12-31

North Dakota State University Foundation, founded in 1971, is a major nonprofit in the Education sector that reported $102.4M in total revenue in fiscal year 2024. Revenue surged 48% from the prior year, signaling strong growth momentum. The organization ran a surplus of $49.8M, a strong 49% operating margin.

Mission

Building enduring relationships that maximize advocacy and philanthropy to support NDSU.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $65,520,128
Program Service Revenue $1,278,689
Investment Income $35,433,482
Other Revenue $130,142
TOTAL REVENUE $102,362,441

Expense Breakdown

Grants Paid $38,240,320
Salaries & Benefits $7,152,160
Fundraising Expenses $4,871,058
Program Expenses $40,542,481
Other Expenses $7,142,727
TOTAL EXPENSES $52,535,207

Year-over-Year Comparison

2024 2023 Change
Revenue $102,362,441 $69,047,973 +0.5%
Expenses $52,535,207 $51,010,035 +0.0%
Net Income $49,827,234 $18,037,938 +1.8%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
11
Independent Members
11
Employees
67
Volunteers
345

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✓ Engaged in Lobbying
✗ Operated Donor Advised Fund
✓ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
7
$731,603
Total Directors
13
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
John R Glover President & CEO 60.00
Officer
$407,231 $63,814 $471,045
Allyson Peterson Sr. VP of Finance & Operation/CFO 40.00
Officer
$212,337 $48,221 $260,558
Monique Anderson Sr. VP of Principal Giving 40.00
Highest
$191,269 $53,566 $244,835
Justin Swanson VP of Major Giving 40.00
Highest
$158,603 $41,567 $200,170
Gail Dancer VP of Information Services 40.00
Highest
$157,151 $40,464 $197,615
Bethany Hardwig VP of Alumni & Donor Connections 40.00
Highest
$150,869 $34,885 $185,754
Lisa Otterson Managing Director of Development 40.00
Highest
$136,106 $47,805 $183,911
Stacey Ackerman Board Chair (Jan-June)/Board member (July-Dec) 2.50
Officer Director
$0 $0 $0
Dave Goodin Vice Chair (Jan-Jun)/Chair (July-Dec) 2.50
Officer Director
$0 $0 $0
Keith Peltier Secretary (Jan-June)/Vice Chair (July-Dec) 2.50
Officer Director
$0 $0 $0
Mike Vipond Treasurer 2.50
Officer Director
$0 $0 $0
Kevin Wolf Board Member (Jan-June)/Secretary (July-Dec) 2.50
Officer Director
$0 $0 $0
Dave Olig Board Member 2.50
Director
$0 $0 $0
Neal Fisher Board Member 2.50
Director
$0 $0 $0
Dave Maring Board Member (Jan-June) 2.50
Director
$0 $0 $0
Chuck Ulmer Board Member 2.50
Director
$0 $0 $0
Hugh McDonald Board Member (Jan-June) 2.50
Director
$0 $0 $0
Bob Challey Board Member 2.50
Director
$0 $0 $0
Jo Burdick Board Member (July-Dec) 2.50
Director
$0 $0 $0
Dave Clouston Board Member (July-Dec) 2.50
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $102,362,441 $52,535,207 $688,411,663 $49,827,234
2023 $69,047,973 $51,010,035 $627,405,800 $18,037,938
2022 $58,170,689 $55,497,623 $575,494,411 $2,673,066
2021 $199,184,967 $28,095,849 $630,421,600 $171,089,118
2020 $29,663,255 $26,474,179 $450,450,295 $3,189,076
2019 $103,753,830 $34,496,672 $426,079,583 $69,257,158
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