BLACK HILLS STATE UNIVERSITY FOUNDATION

EIN: 237428348 501(c)(3) Education

SPEARFISH, SD

Total Revenue
$5,184,228
Total Expenses
$2,919,561
Total Assets
$40,784,303
Net Assets
$33,145,554
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Financial Trends

Organization Details

Formation Year
1975
Legal Domicile
SD
Principal Officer
STEVE MEEKER
Phone
6056426220
Tax Period
2023-01-01 to 2023-12-31

BLACK HILLS STATE UNIVERSITY FOUNDATION, founded in 1975, is a community nonprofit in the Education sector that reported $1.7M in total revenue in fiscal year 2018. Revenue fell 47% from the prior year — a significant decline worth monitoring. Expenses of $1.9M exceeded revenue, resulting in a 11% operating deficit.

Mission

TO PROVIDE PRIVATE GIFT SUPPORT FOR BHSU. THE FOUNDATION'S PURPOSE IS TO COMMUNICIATE THIS TO ALUMNI, PARENTS, FRIENDS, CORPORATIONS, AND FOUNDATIONS TO OBTAIN AWARENES, UNDERSTANDING, ACCEPTANCE, AND SUPPORT. THE FOUNDATION ALSO ADDRESSES BOTH THE SHORT-TERM OPERATING AND LONG-TERM CAPITAL AND ENDOWMENT NEEDS OF BHSU.

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $4,386,552
Program Service Revenue $0
Investment Income $773,246
Other Revenue $24,430
TOTAL REVENUE $5,184,228

Expense Breakdown

Grants Paid $2,126,054
Salaries & Benefits $11,234
Fundraising Expenses $47,619
Program Expenses $2,331,235
Other Expenses $782,273
TOTAL EXPENSES $2,919,561

Year-over-Year Comparison

2023 2022 Change
Revenue $5,184,228 $4,334,811 +0.2%
Expenses $2,919,561 $2,003,963 +0.5%
Net Income $2,264,667 $2,330,848 0.0%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
22
Independent Members
22
Employees
9
Volunteers
22

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
4
$225,655
Total Directors
22
$0
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
STEVE MEEKER EXEC VICE PR 27.00
Officer
$0 $38,383 $225,655
KATHY J JOHNSON VP OF FINANC 1.00
Highest
$0 $40,171 $239,516
DAMIAN EDERHOFF PRESIDENT 1.00
Officer Director
$0 $0 $0
JIM MORAVEC VICE PRESIDE 1.00
Officer Director
$0 $0 $0
BETH BENNING SECRETARY 1.00
Officer Director
$0 $0 $0
SANDRA ADDY BOARD MEMBER 1.00
Director
$0 $0 $0
KATHRYN JOHNSON BOARD MEMBER 1.00
Director
$0 $0 $0
MARLA BARNARD BOARD MEMBER 1.00
Director
$0 $0 $0
TASHI BRAUN BOARD MEMBER 1.00
Director
$0 $0 $0
JOHN JOHNSON BOARD MEMBER 1.00
Director
$0 $0 $0
TAMARA BURKE BOARD MEMBER 1.00
Director
$0 $0 $0
VINCENT GRAVELLE BOARD MEMBER 1.00
Director
$0 $0 $0
JUDY DRYDEN BOARD MEMBER 1.00
Director
$0 $0 $0
GARY JOHNSON BOARD MEMBER 1.00
Director
$0 $0 $0
CRAIG KATT BOARD MEMBER 1.00
Director
$0 $0 $0
LES LINDSKOV BOARD MEMBER 1.00
Director
$0 $0 $0
RON MEEKER BOARD MEMBER 1.00
Director
$0 $0 $0
DARYL JOHNSON BOARD MEMBER 1.00
Director
$0 $0 $0
WAYNE MUNDT BOARD MEMBER 1.00
Director
$0 $0 $0
JULIE BENEDICT BOARD MEMBER 1.00
Director
$0 $0 $0
JULIE OLSON BOARD MEMBER 1.00
Director
$0 $0 $0
JULIE PECHOTA BOARD MEMBER 1.00
Director
$0 $0 $0
JUSTIN VARLAND BOARD MEMBER 1.00
Director
$0 $0 $0
RYAN WORDEMAN BOARD MEMBER 1.00
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 No data No data No data No data
2023 $5,184,228 $2,919,561 $40,784,303 $2,264,667
2022 $4,334,811 $2,003,963 $32,932,668 $2,330,848
2021 $3,440,272 $1,841,165 $34,958,605 $1,599,107
2020 $3,926,287 $1,908,237 $29,512,903 $2,018,050
2019 $2,103,249 $1,947,318 $25,608,815 $155,931
2018 $1,679,580 $1,859,554 $23,088,535 $-179,974
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