Education (B110) IRS Verified DX Registered 990 on File

BLACK HILLS STATE UNIVERSITY FOUNDATION

EIN: 23-7428348 · SPEARFISH, SD 57799-1725 · United States · FY 2024 Data

3 out of 5 58 / 100 Based on 2+ years of filings

Financial strength (30%) 90/100

Reliability (20%) 55/100

Effectiveness (25%) 81/100

Impact (25%) No data yet

Financial data: FY 2024 · Scored 9/13/2026

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Mission Statement

The mission of the Black Hills State University Foundation is to provide private gift support for BHSU. The foundation's purpose is to communicate with alumni, parents, friends, corporations and foundations to obtain awareness, understanding, acceptance and support. The foundation also addresses both the short-term operating and long-term capital and endowment needs of BHSU.

Financial Overview — FY 2024

$19.9M

Total Revenue

$5.3M

Total Expenses

$49.9M

Net Assets

Employees

Revenue Sources

Expense Breakdown

Program Expense Ratio 88.2%

Fundraising Efficiency 13.6%

Operating Reserve 113.56x

Liability-to-Asset 1.6%

Revenue Diversification 88.0%

Compared with Peers

FY 2024

Compared with 7,551 similar organizations (United States, Education, $1M–$10M in expenses), FY 2024.

This organization Middle half of peers (P25–P75) Peer median

Ratio	This org	Peer median	Position (P10 → P90)
Program expense ratio Program expenses / total expenses · higher is better	88.2%	84.5%	P10P90	Above median
Admin expense ratio Management and general / total expenses · lower is better	10.0%	12.8%	P10P90	Above median
Fundraising expense ratio Fundraising expenses / total expenses · lower is better	1.7%	0.0%	P10P90	Below median
Fundraising efficiency Fundraising expenses / gross fundraising income · lower is better	13.6%	57.0%	P10P90	Above median
Operating reserve Months of expenses covered by net assets · higher is better	113.6 mo	9.0 mo	P10P90	Top quarter
Liabilities to assets Total liabilities / total assets · lower is better	1.6%	18.6%	P10P90	Top quarter
Revenue concentration Share of revenue from the largest source · lower is better	88.0%	89.9%	P10P90	Above median
Revenue growth Year over year revenue growth	284.4%	7.7%	P10P90
Expense growth Year over year expense growth	80.5%	8.7%	P10P90
Surplus margin Surplus as a share of revenue	73.6%	2.9%	P10P90

Financial History

Year	Revenue	Expenses	Net Assets	Program %	Staff
2024	$19.9M	$5.3M	$49.9M	88.2%	5
2023	$5.2M	$2.9M	$33.1M	79.9%	9
2022	$4.3M	$2.0M	$28.4M	82.6%	9
2021	$3.4M	$1.8M	N/A	—	13

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Organization Details

EIN: 23-7428348
State: SD
City: SPEARFISH
ZIP: 57799-1725
Classification: B110
Category: Education
Rating: 3★
Coverage: A
Last Updated: Aug 2026
IRS Ruling Year: 1975
Foundation Code: 13
Form 990: On File

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CharityAI™ rates charities from 0 to 100 using public filings (IRS Form 990 and the equivalent registries outside the US) together with the information the charity itself provides on DonationX. Ratings are recalculated every quarter, without human bias, and shown as stars.

Four pillars

Financial strength30%

Program expense ratio, fundraising efficiency, operating reserves, liabilities and revenue diversification, compared with similar organizations.

Reliability20%

Standing with the registry, filing history, verification and how complete the profile is.

Effectiveness25%

How much goes to programs and how consistently the organization delivers them.

Impact25%

The outcomes the charity reports on DonationX: people served, cost per service and results.

Stars

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