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Ndsu Research Foundation FY2021 filing

Tax-deductible

Fargo, ND501(c)(3)EducationEIN 36-3667912Revenue $1.9M in FY2021

On file with the IRSndsuresearchfoundation.org1735 Ndsu Research Park Dr Dpt 4400, 58102-5703 · Fargo, NDTax-exempt since Jan 2016Supporting org, Type II — 509(a)(3)

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To assist north dakota state university in teaching, Research, and public service projects.

501(c)(3) charity; gifts are tax-deductible.
96¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 5
filings with a surplus
Average deficit $299K a year · 18% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
96%
of spending
Looks good: 96% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 1.9 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $8K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$4K
0.03% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 13 voting members
Looks good: 8 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.9M
Spent
$2.0M
To programs
96%
Net assets
$12.1M
By yearFY2021–FY2025
Revenue
$1.9M
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$1.9M
FY2022$1.7M
FY2023$1.5M
FY2024$1.5M
FY2025$1.7M
Expenses
$2.0M
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$2.0M
FY2022$1.7M
FY2023$1.6M
FY2024$2.3M
FY2025$2.2M
Net assets
$12.1M
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$12.1M
FY2022$10.7M
FY2023$12.1M
FY2024$13.5M
FY2025$14.3M

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jan 2016.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

96 cents of each dollar spent went to programs.

Program services 96% · $1.9M Management & general 4% · $86K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

14 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$0Pt VII · Sec A
Jane Schuh
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
James Broten
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Richard Rayl
Vice President
$0Pt VII · Sec A
See Ndsu Research Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Supports North Dakota State University's teaching, research, and public service initiatives.

Questions for Ndsu Research Foundation

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Provided by the organization

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1 program · $1.9M · in their own filed words · FY2020
01

The foundation assists north dakota state university in its teaching, research, and public service missions. In addition, it promotes scientific research to enhance the economic and rural development in the state of north dakota.

$1.9Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2020
The American Center for Philanthropy INCFY2020$8K
Total grants receivedfrom 1 funder$8K
Grants paid · 4 grants · $5.3M · 2021–2024
North Dakota State UniversityFY2024$1,583,262
North Dakota State UniversityFY2023$1,470,949
North Dakota State UniversityFY2022$1,102,923
North Dakota State UniversityFY2021$1,140,729

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.9M
Ln 12
Other incomeLn 4–11$1.6M
Investment incomeLn 3$250K
Money outPt IX
$2.0M
Ln 25
Programscol B$1.9M
Managementcol C$86K
Owns and owesPt X
$12.1M
net assets · Ln 32
Cash and savingsLn 1–2$317K
Total assetsLn 16$12.2M
LiabilitiesLn 26$4K
PeoplePt VI, VII
14
listed · VII A
PaidVII A0
Voting boardVI 1a13
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$250K
Other incomeLn 4–11$1.6M
Gains on assetsLn 7$81K
Total revenueLn 12$1.9M
Assets in detailPt X, end of year
SavingsLn 2$317K
Cash and savings togetherLn 1–2$317K
InvestmentsLn 11–13$11.8M
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$12.2M
LiabilitiesLn 26$4K
Net assetsLn 32$12.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$694K$317K
InvestmentsLn 11–13$8.7M$11.8M
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$9.4M$12.2M
LiabilitiesLn 26$4K$4K
Net assetsLn 32$9.4M$12.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$90K$72K$18K
Other salaries and wagesLn 7$127K$101K$25K
Legal feesLn 11b$249K$249K
Accounting feesLn 11c$21K$21K
Office expensesLn 13$2K$2K$399
Information technologyLn 14$8K$8K
RoyaltiesLn 15$1.4M$1.4M
OccupancyLn 16$6K$4K$1K
TravelLn 17$225$180$45
InsuranceLn 23$4K$4K
Other expenses (24a–d)Ln 24$63K$48K$16K
Total functional expensesLn 25$2.0M$1.9M$86K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.7M$2.2M−$522K$14.3M 990 PDF
FY2024 $1.5M$2.3M−$756K$13.5M 990 PDF
FY2023 $1.5M$1.6M−$127K$12.1M 990 PDF
FY2022 $1.7M$1.7M−$6K$10.7M 990 PDF
FY2021 Viewing $1.9M$2.0M−$85K$12.1M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $1,896,448 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $159,069$249,796
I-11 Other revenuePrior year $2,319,064$1,646,652
I-12 Total revenuePrior year $2,478,133$1,896,448
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $121,553$217,263
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $2,326,680$1,764,485
I-18 Total expensesPrior year $2,448,233$1,981,748
I-19 Revenue less expensesPrior year $29,900−$85,300
Part VI · Governance 8 of 13 board members independent, 1 to look at
VI-1a Voting members of the governing body13
VI-1b Independent voting members8
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $1,896,448 across 4 lines filed
VIII-3 Investment incomeExcluded from tax $168,498$168,498
VIII-5 RoyaltiesExcluded from tax $1,646,652$1,646,652
VIII-7 Net gain or loss on sales of assetsExcluded from tax $81,298$81,298
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $1,896,448$1,896,448
Part IX · Statement of functional expenses $1,981,748 across 11 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $72,322 · Management $18,081$90,403
IX-7 Other salaries and wagesPrograms $101,488 · Management $25,372$126,860
IX-11b Legal feesPrograms $248,516$248,516
IX-11c Accounting feesManagement $20,509$20,509
IX-13 Office expensesPrograms $1,594 · Management $399$1,993
IX-14 Information technologyPrograms $8,125$8,125
IX-15 RoyaltiesPrograms $1,411,675$1,411,675
IX-16 OccupancyPrograms $4,452 · Management $1,113$5,565
IX-17 TravelPrograms $180 · Management $45$225
IX-23 InsuranceManagement $4,385$4,385
IX-24 Other expenses (24a–d)Programs $47,874 · Management $15,618$63,492
IX-25 Total functional expensesPrograms $1,896,226 · Management $85,522 · Fundraising $0$1,981,748
Part X · Balance sheet $12,153,678 assets, 10 lines filed
X-2 Savings and temporary cash investmentsStart of year $693,544$317,314
X-9 Prepaid expenses and deferred chargesStart of year $9,221$7,686
X-10c Land, buildings and equipment, netStart of year $0$0
X-11 Publicly traded securitiesStart of year $8,739,136$11,828,678
X-16 Total assetsStart of year $9,441,901$12,153,678
X-17 Accounts payable and accrued expensesStart of year $4,075$3,921
X-26 Total liabilitiesStart of year $4,075$3,921
X-27 Net assets without donor restrictionsStart of year $9,437,826$12,149,757
X-32 Total net assets or fund balancesStart of year $9,437,826$12,149,757
X-33 Total liabilities and net assetsStart of year $9,441,901$12,153,678
Part XI · Reconciliation of net assets $12,149,757 net assets at year end
XI-1 Total revenue$1,896,448
XI-2 Total expenses$1,981,748
XI-3 Revenue less expenses−$85,300
XI-4 Net assets at start of year$9,437,826
XI-5 Net unrealized gains (losses) on investments$2,808,016
XI-7 Investment expenses−$10,785
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$12,149,757

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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