Northern State University Foundation

Northern State University Foundation

Chartered in 1969, the Northern State University Foundation was built to secure and steward private gifts for the university. President and CEO Zach Flakus oversees a structure that is both a fundraising arm and an active investor, with the foundation's board chaired by Megan Biegler and joined by NSU President Dr. Alan LaFave as a non-voting member. The foundation’s investment strategy spans conventional endowment allocations and less typical direct plays. It commits to venture capital through fund-of-funds, early-stage and growth equity vehicles, alongside buyout and secondaries. A distinctive feature is a self-managed residential rental operation in Aberdeen held via FOHO I, LLC, and a mixed-use property entity, APEX, LLC. Confirmed holdings include parcels in multiple Aberdeen subdivisions and the NSU President's Residence, placing the foundation in the role of local landlord alongside its duties as a steward of pooled financial assets. Operational scale is modest but diversified across asset classes including timber and venture. The foundation maintains a lean professional footprint from offices in the Beckman Building on campus. Memberships in the Council for Advancement and Support of Education (CASE) and Aberdeen Country Club tie the institution to peer networks and local business circles. Recent public disclosures from tax or investment filings have not detailed new fund closes or changes in allocation pacing. The foundation hybridizes a traditional endowment’s fundraising engine with a direct real-asset investment arm — an unusual shape that mixes standard institutional fund commitments with hands-on management of a residential rental portfolio in the university's own backyard.