WILLISTON STATE COLLEGE 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

1961

Legal Domicile

Principal Officer

LAURIE FURUSETH

Phone

7015729275

Tax Period

2024-07-01 to 2025-06-30

WILLISTON STATE COLLEGE FOUNDATION, founded in 1961, is a mid-sized nonprofit in the Education sector that reported $10.3M in total revenue in fiscal year 2024. Revenue surged 279% from the prior year, signaling strong growth momentum. Expenses of $9.1M left a modest 12% surplus.

Mission

THE FOUNDATION SUPPORTS WILLISTON STATE COLLEGE BY BUILDING RELATIONSHIPS WITH ALUMNI, DONORS, AND SURROUNDING COMMUNITIES; GENERATING FINANCIAL SUPPORT; FUNDING STUDENT AND FACULTY DEVELOPMENT SCHOLARSHIPS; AND LEADING CAPITAL EXPANSION TO DEVELOP A THRIVING STATE-OF-THE-ART CAMPUS.

Program Service Accomplishments

Program 1

Expenses: $8,605,918 Revenue: $37,238

THE FOUNDATION PROVIDES SCHOLARSHIPS TO STUDENTS OF WILLISTON STATE COLLEGE FOR HIGHER EDUCATION, CONTINUING EDUCTION, AND STAFF GRANTS TO SUPPORT COLLEGE AND COMMUNITY PROJECTS.

Program 2

THE FOUNDATION OWNS PROPERTY AND EQUIPMENT THROUGH THEIR PARTNERSHIP WITH WILLISTON STATE COLLLEGE HOUSING, LLC. THIS PROPERTY IS RENTED BY WILLISTON STATE COLLEGE EMPLOYEES AND OTHER ESSENTIAL...

THE FOUNDATION OWNS PROPERTY AND EQUIPMENT THROUGH THEIR PARTNERSHIP WITH WILLISTON STATE COLLLEGE HOUSING, LLC. THIS PROPERTY IS RENTED BY WILLISTON STATE COLLEGE EMPLOYEES AND OTHER ESSENTIAL PERSONNEL AND AFFILIATES. REVENUES DERIVED FROM THIS PROGRAM SERVICE WERE $1,960,917 AND RELATED EXPENSES WERE $2,021,743. THIS PROGRAM RENTAL ACTIVITY IS PRESENTED ON FORM 990 IN SECTION VIII, LINES 6A AND 6B.

Program 3

Expenses: $19,890

THE FOUNDATION MAKES CONTRIBUTIONS TO VARIOUS CHARITABLE ORGANIZATIONS THAT PROVIDE SUPPORT TO THE WILLISTON, NORTH DAKOTA AREA.

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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 $9,033,059

Program Service Revenue $0

Investment Income $162,587

Other Revenue $1,139,708

TOTAL REVENUE $10,335,354

Expense Breakdown

Grants Paid $8,458,155

Salaries & Benefits $406,181

Fundraising Expenses $190,623

Program Expenses $8,625,808

Other Expenses $230,973

TOTAL EXPENSES $9,095,309

Year-over-Year Comparison

	2024	2023	Change
Revenue	$10,335,354	$2,727,842	+2.8%
Expenses	$9,095,309	$5,008,395	+0.8%
Net Income	$1,240,045	$-2,280,553	-1.5%

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

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

$270,598

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRANDON JOHNSON	DIRECTOR	0.50	Director	$0	$0	$0
JORY MEYER	DIRECTOR	0.50	Director	$0	$0	$0
MARK BARSTAD	DIRECTOR	0.50	Director	$0	$0	$0
MELANIE STILLWELL	DIRECTOR	0.50	Director	$0	$0	$0
JACKIE LEE	DIRECTOR	0.50	Director	$0	$0	$0
LANCE OLSON	DIRECTOR	0.50	Director	$0	$0	$0
BILL GATHMAN	DIRECTOR	0.50	Director	$0	$0	$0
WARD KOESER	DIRECTOR	0.50	Director	$0	$0	$0
LEE MURPHY	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
KATIE KRINGEN	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
TAYLOR OLSON	PRESIDENT	2.00	Officer Director	$0	$0	$0
LAURIE FURUSETH	CFO	15.00	Officer	$66,308	$8,753	$75,061
HUNTER BERG	EXECUTIVE DIRECTOR	20.00	Officer	$156,542	$38,995	$195,537

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	$10,335,354	$9,095,309	$23,640,977	$1,240,045
2024	No data	No data	No data	No data
2023	$1,940,021	$4,439,655	$23,114,147	$-2,499,634
2022	$7,223,320	$3,328,260	$26,851,284	$3,895,060
2021	$821,584	$3,945,859	$23,462,693	$-3,124,275
2020	$2,397,570	$3,703,859	$26,647,937	$-1,306,289
2019	$5,259,712	$3,841,884	$27,780,323	$1,417,828