UNIVERSITY OF SOUTH DAKOTA FOUNDATION

EIN: 466018891 501(c)(3) Education

VERMILLION, SD

Total Revenue
$38,209,482
Total Expenses
$33,858,071
Total Assets
$367,452,853
Net Assets
$349,133,761
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1928
Legal Domicile
SD
Principal Officer
NOAH SHEPARD
Phone
6056776703
Tax Period
2024-01-01 to 2024-12-31

UNIVERSITY OF SOUTH DAKOTA FOUNDATION, founded in 1928, is a mid-sized nonprofit in the Education sector that reported $38.2M in total revenue in fiscal year 2024. Revenue surged 36% from the prior year, signaling strong growth momentum. Expenses of $33.9M left a modest 11% surplus.

Mission

TO PROVIDE PRIVATE RESOURCES FOR THE UNIVERSITY OF SOUTH DAKOTA TO INCREASE THE EXCELLENCE OF ITS STUDENTS' EDUCATIONAL EXPERIENCE.

Program Service Accomplishments

Program 1
Expenses: $12,348,296 Revenue: $1,436,212

PROVIDE SCHOLARSHIP FUNDS TO INCREASE THE ACADEMIC EXCELLENCE OF THE STUDENT BODY AND THE QUALITY OF THEIR EDUCATIONAL EXPERIENCE. SCHOLARSHIPS ARE AWARDED FOR BOTH RECRUITING AND RETENTION PURPOSES...

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PROVIDE SCHOLARSHIP FUNDS TO INCREASE THE ACADEMIC EXCELLENCE OF THE STUDENT BODY AND THE QUALITY OF THEIR EDUCATIONAL EXPERIENCE. SCHOLARSHIPS ARE AWARDED FOR BOTH RECRUITING AND RETENTION PURPOSES. $12.3 MILLION AND $11.1 MILLION IN SCHOLARSHIPS WERE AWARDED AS OF DECEMBER 31, 2024 AND 2023, RESPECTIVELY. THIS LEVEL OF FUNDING REPRESENTS AN INCREASE OF 30.3% OVER THE LAST 5 YEARS.

Program 2
Expenses: $7,747,906

PROVIDE FUNDS TO CONSTRUCT NEW CAMPUS FACILITIES AND RESTORE, REPAIR AND MAINTAIN EXISTING FACILITIES. THE FOUNDATION HAS BEEN INSTRUMENTAL IN A MAJOR RENOVATION AND RECONSTRUCTION PLAN FOR...

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PROVIDE FUNDS TO CONSTRUCT NEW CAMPUS FACILITIES AND RESTORE, REPAIR AND MAINTAIN EXISTING FACILITIES. THE FOUNDATION HAS BEEN INSTRUMENTAL IN A MAJOR RENOVATION AND RECONSTRUCTION PLAN FOR FACILITIES AT USD. SINCE 1996, $119.0 MILLION HAS BEEN PROVIDED FOR FACILITIES THAT HAVEENHANCED THE STUDENTS' EDUCATIONAL EXPERIENCE AND OPPORTUNITIES.

Program 3
Expenses: $6,425,919

PROVIDE FUNDS TO SUPPORT ACADEMIC FACULTY THROUGH SALARY AUGMENTATION, RESEARCH AND PROFESSIONAL DEVELOPMENT, SUPPORT OF STUDENT TRAVEL AND RESEARCH, AND SUPPORT OF USD MUSEUMS AND VARIOUS AUXILIARY...

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PROVIDE FUNDS TO SUPPORT ACADEMIC FACULTY THROUGH SALARY AUGMENTATION, RESEARCH AND PROFESSIONAL DEVELOPMENT, SUPPORT OF STUDENT TRAVEL AND RESEARCH, AND SUPPORT OF USD MUSEUMS AND VARIOUS AUXILIARY PROGRAMS. IN 2024, $6.4 MILLION WAS PROVIDED TO SUPPORT THESE NEEDS.

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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 $21,520,743
Program Service Revenue $1,425,875
Investment Income $15,062,491
Other Revenue $200,373
TOTAL REVENUE $38,209,482

Expense Breakdown

Grants Paid $26,600,179
Salaries & Benefits $4,430,086
Fundraising Expenses $3,350,022
Program Expenses $26,600,179
Other Expenses $2,619,347
TOTAL EXPENSES $33,858,071

Year-over-Year Comparison

2024 2023 Change
Revenue $38,209,482 $28,171,802 +0.4%
Expenses $33,858,071 $31,652,541 +0.1%
Net Income $4,351,411 $-3,480,739 -2.3%
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
20
Independent Members
20
Employees
51
Volunteers
151

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
8
$796,108
Total Directors
22
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KEVIN DOYLE CHAIR 0.70
Officer Director
$0 $0 $0
LANCE BULTENA VICE CHAIR 0.70
Officer Director
$0 $0 $0
RYAN TAYLOR IMMEDIATE PAST CHAIR 0.70
Officer Director
$0 $0 $0
RUSS DOKKEN - BOARD OF DIRECTORS/INTERIM CEO (FEB-MAY) 10.00
Officer Director
$0 $0 $0
NANCY A GALLAGHER BOARD OF DIRECTORS 0.40
Director
$0 $0 $0
TOM GALLAGHER BOARD OF DIRECTORS 0.40
Director
$0 $0 $0
JACK HOPKINS BOARD OF DIRECTORS (JAN-OCT) 0.40
Director
$0 $0 $0
DEBORAH PETERS BOARD OF DIRECTORS (JAN-OCT) 0.40
Director
$0 $0 $0
JULIE JOHNSON BOARD OF DIRECTORS 0.40
Director
$0 $0 $0
KYLE JORGENSEN BOARD OF DIRECTORS 0.40
Director
$0 $0 $0
JAFAR KARIM BOARD OF DIRECTORS 0.40
Director
$0 $0 $0
TERRANCE KURTENBACH BOARD OF DIRECTORS 0.40
Director
$0 $0 $0
BRANDEE SCHULTZ BOARD OF DIRECTORS 0.40
Director
$0 $0 $0
PAUL HANSON BOARD OF DIRECTORS 0.40
Director
$0 $0 $0
NATHAN PETERSON BOARD OF DIRECTORS 0.40
Director
$0 $0 $0
JAMES ABBOTT BOARD OF DIRECTORS 0.40
Director
$0 $0 $0
JUDITH MEIERHENRY BOARD OF DIRECTORS 0.40
Director
$0 $0 $0
MARY NETTLEMAN BOARD OF DIRECTORS 0.40
Director
$0 $0 $0
PATRICK JOHNSON BOARD OF DIRECTORS 0.40
Director
$0 $0 $0
ANDREA THOMPSON BOARD OF DIRECTORS 0.40
Director
$0 $0 $0
TRAVIS HAHLER BOARD OF DIRECTORS 0.40
Director
$0 $0 $0
GARY FISH BOARD OF DIRECTORS (OCT-DEC) 0.40
Director
$0 $0 $0
NOAH SHEPARD - VP OF DEVELOP./PRESIDENT & CEO (MAR-DEC) 45.00
Officer
$213,954 $21,068 $235,022
NICK KOTZEA SEC/TREAS; COO & GENERAL COUNSEL 45.00
Officer
$195,809 $12,958 $208,767
JAY WILSON PRESIDENT AND CEO (JAN-FEB) 45.00
Officer
$186,103 $4,207 $190,310
PEGGY MACH VP OF FINANCE 45.00
Officer
$147,845 $14,164 $162,009
STEPHANIE AUSTIN - VP OF ADVANCEMENT SERV. & COMMUNICATIONS 45.00
Highest
$120,787 $14,798 $135,585
CHRISTOPHER KASSIN VP OF CORPORATE & FDTN RELATIONS 45.00
Highest
$144,918 $17,072 $161,990
KELLYNA WARNKE - SENIOR DIR OF DEVELOPMENT - HEALTH AFFAIRS 45.00
Highest
$126,538 $7,584 $134,122
CYNTHIA CARLSON ED OF PLANNED GIVING 45.00
Highest
$169,344 $26,352 $195,696
ANDREW CARR ED OF DEVELOPMENT 45.00
Highest
$144,223 $17,584 $161,807
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 $38,209,482 $33,858,071 $367,452,853 $4,351,411
2023 $28,171,802 $31,652,541 $354,810,157 $-3,480,739
2022 $26,328,274 $25,290,294 $334,981,490 $1,037,980
2021 $26,429,631 $21,833,254 $375,464,262 $4,596,377
2020 $49,591,248 $22,065,023 $352,818,128 $27,526,225
2019 $28,430,716 $27,316,176 $299,140,070 $1,114,540
2018 $23,358,295 $21,434,272 $274,381,578 $1,924,023
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