DAKOTA STATE UNIVERSITY FOUNDATION

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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

1970

Legal Domicile

Principal Officer

JILL RUHD

Phone

6052565693

Tax Period

2024-07-01 to 2025-06-30

DAKOTA STATE UNIVERSITY FOUNDATION, founded in 1970, is a community nonprofit in the Education sector that reported $8.2M in total revenue in fiscal year 2024. Revenue fell 20% from the prior year — a significant decline worth monitoring. Expenses of $9.4M exceeded revenue, resulting in a 15% operating deficit.

Mission

DAKOTA STATE UNIVERSITY FOUNDATION IS AN INDEPENDENT NON-PROFIT CORPORATION ESTABLISHED FOR THE PURPOSE OF RAISING AND MANAGING PRIVATE FUNDING FOR THE BENEFIT OF DAKOTA STATE UNIVERSITY.

Program Service Accomplishments

Program 1

Expenses: $1,874,925

THE FOUNDATION ASSISTS IN MAKING PAYMENTS TO OR ON BEHALF OF DAKOTA STATE UNIVERSITY FOR SCHOLARSHIPS.

Program 2

Expenses: $5,288,783 Revenue: $11,658

EXPENDITURES FOR THE GENERAL SUPPORT OF DSU INCLUDING: PAYMENTS TO DSU ALUMNI ASSOCIATION FOR MAILING LIST, PAYMENTS FOR PROJECTS, AWARDS, AND CONSTRUCTION PROJECTS.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $4,994,143

Program Service Revenue $11,658

Investment Income $2,937,399

Other Revenue $216,095

TOTAL REVENUE $8,159,295

Expense Breakdown

Grants Paid $6,577,534

Salaries & Benefits $0

Fundraising Expenses $160,001

Program Expenses $7,163,708

Other Expenses $2,824,312

TOTAL EXPENSES $9,401,846

Year-over-Year Comparison

	2024	2023	Change
Revenue	$8,159,295	$10,218,415	-0.2%
Expenses	$9,401,846	$27,965,827	-0.7%
Net Income	$-1,242,551	$-17,747,412	-0.9%

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

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

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

$130,167

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVE GEIVER	CHAIR	1.00	Officer Director	$0	$0	$0
MIKE MALONE	TRUSTEE	1.00	Director	$0	$0	$0
FLOYD RUMMEL	TRUSTEE	1.00	Director	$0	$0	$0
RANDY SCHAEFER	TRUSTEE	1.00	Director	$0	$0	$0
JUDY DITTMAN	TRUSTEE	1.00	Director	$0	$0	$0
SCOTT SCHLISNER	TRUSTEE	1.00	Director	$0	$0	$0
SUMMER SCHULTZ	TRUSTEE	1.00	Director	$0	$0	$0
KAZZI TEEL	TRUSTEE	1.00	Director	$0	$0	$0
POOJA PULLMAN	TRUSTEE	1.00	Director	$0	$0	$0
TAMMY MILLER	TRUSTEE	1.00	Director	$0	$0	$0
ERIN NIELSEN	TRUSTEE	1.00	Director	$0	$0	$0
MIKE HALVERSON	TRUSTEE	1.00	Director	$0	$0	$0
ROBB GRAHAM	TRUSTEE	1.00	Director	$0	$0	$0
JEFF RODMAN	TRUSTEE	1.00	Director	$0	$0	$0
BOB CASAGRANDE	TRUSTEE	1.00	Director	$0	$0	$0
NICK PODHRADSKY	TRUSTEE	1.00	Director	$0	$0	$0
ROGER DEGROOT	TRUSTEE	1.00	Director	$0	$0	$0
DELON MORK	TRUSTEE	1.00	Director	$0	$0	$0
JEFF BLOOM	TRUSTEE	1.00	Director	$0	$0	$0
TREVOR GARBERS	TRUSTEE	1.00	Director	$0	$0	$0
HALI MCCLELLAND DIGGS	TRUSTEE	1.00	Director	$0	$0	$0
JAROD KEENE	TRUSTEE	1.00	Director	$0	$0	$0
JULIE IVERSON	TRUSTEE	1.00	Director	$0	$0	$0
PAUL SCHOEDER	TRUSTEE (UNTIL MAY 2025)	1.00	Director	$0	$0	$0
MIKE MCKELVEY	CEO	40.00	Officer	$107,831	$22,336	$130,167

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
2025	$8,159,295	$9,401,846	$81,762,893	$-1,242,551
2024	$10,218,415	$27,965,827	$102,151,272	$-17,747,412
2023	$5,886,711	$13,699,637	$96,118,718	$-7,812,926
2022	$5,725,186	$2,887,015	$118,045,718	$2,838,171
2021	$15,213,740	$2,592,406	$48,525,169	$12,621,334
2020	$3,444,107	$2,774,279	$34,127,740	$669,828
2019	$3,847,910	$2,221,983	$40,519,237	$1,625,927