Form 990 for tax year 2023
Filed by SIOUX FALLS DEVELOPMENT FOUNDATION INC.
Totals
- Total revenue
- $21,589,603
- Total expenses
- $19,011,806
- Contributions and grants received
- $20,529,444
- Grants paid
- $15,985,702
- Program service revenue
- $189,145
- Investment income
- $849,256
- Other revenue
- $21,758
- Total assets, end of year
- $99,337,297
- Total liabilities, end of year
- $36,609,564
- Net assets or fund balances, end of year
- $62,727,733
- Program services expenses (Part IX)
- $18,863,256
- Management and general expenses
- $148,550
- Fundraising expenses
- $0
- Program service expenses (Part III)
- not reported
Program services were 99.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1b · Membership dues
$141,830
-
1e · Government grants (contributions)
$18,920,938
-
1f · All other contributions, gifts and grants
$1,466,676
-
2a · Program service revenue: MANAGEMENT FEE
total $123,694 · related or exempt $123,694
-
2b · Program service revenue: MISCELLANEOUS OTHER REVENUE
total $44,764 · related or exempt $44,764
-
2c · Program service revenue: WORKFORCE DEVELOPMENT
total $20,687 · related or exempt $20,687
-
3 · Investment income
total $871,061 · related or exempt $871,061
-
6a · Gross rents
real property $38,400
-
6b · Less rental expenses
real property $16,642
-
6c · Rental income or loss
real property $21,758
-
6d · Net rental income or loss
total $21,758 · related or exempt $21,758
-
7b · Less cost or other basis and sales expenses
other assets $21,805
-
7c · Gain or loss
other assets -$21,805
-
7d · Net gain or loss
total -$21,805 · related or exempt -$21,805
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $15,985,702 · program services $15,985,702
-
5 · Compensation of officers, directors and key employees
total $695,942 · program services $695,942
-
7 · Other salaries and wages
total $477,641 · program services $477,641
-
8 · Pension plan contributions
total $20,594 · program services $20,594
-
9 · Other employee benefits
total $48,964 · program services $48,964
-
10 · Payroll taxes
total $74,722 · program services $74,722
-
11c · Fees: accounting
total $97,077 · program services $27,757 · management and general $69,320
-
12 · Advertising and promotion
total $4,875 · management and general $4,875
-
13 · Office expenses
total $11,192 · program services $9,709 · management and general $1,483
-
14 · Information technology
total $42,011 · program services $32,675 · management and general $9,336
-
16 · Occupancy
total $92,877 · program services $72,238 · management and general $20,639
-
17 · Travel
total $5,084 · program services $4,286 · management and general $798
-
19 · Conferences, conventions and meetings
total $26,827 · program services $2,451 · management and general $24,376
-
20 · Interest
total $7,977 · management and general $7,977
-
22 · Depreciation, depletion and amortization
total $26,091 · program services $26,091
-
23 · Insurance
total $26,797 · program services $20,842 · management and general $5,955
-
24a · Other expenses: PROGRAM EXPENSES
total $777,106 · program services $777,106
-
24b · Other expenses: REAL ESTATE TAXES
total $548,554 · program services $548,554
-
24c · Other expenses: ASSOCIATION FEES
total $33,466 · program services $33,466
-
24d · Other expenses: MISCELLANEOUS EXPENSES
total $6,857 · program services $4,516 · management and general $2,341
-
24e · All other expenses
total $1,450 · management and general $1,450
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $9,885,353 · end of year $16,165,332
-
3 · Pledges and grants receivable
beginning of year $15,944,464 · end of year $24,801,345
-
4 · Accounts receivable
beginning of year $4,198,458 · end of year $3,509,087
-
8 · Inventories for sale or use
beginning of year $47,963,141 · end of year $46,037,930
-
9 · Prepaid expenses and deferred charges
beginning of year $21,822 · end of year $19,006
-
10a · Land, buildings and equipment: cost or other basis
$506,936
-
10b · Land, buildings and equipment: accumulated depreciation
$174,207
-
10c · Land, buildings and equipment, net
beginning of year $58,356 · end of year $332,729
-
11 · Investments: publicly traded securities
beginning of year $5,211,088 · end of year $4,965,541
-
13 · Investments: program-related
beginning of year $3,009,442 · end of year $3,039,555
-
15 · Other assets
beginning of year $813,374 · end of year $466,772
-
17 · Accounts payable and accrued expenses
beginning of year $1,600,974 · end of year $1,901,432
-
19 · Deferred revenue
beginning of year $3,044,169 · end of year $26,669
-
23 · Secured mortgages and notes payable
beginning of year $19,012,709 · end of year $30,130,172
-
25 · Other liabilities
beginning of year $3,107,403 · end of year $4,551,291
-
27 · Net assets without donor restrictions
beginning of year $56,840,176 · end of year $59,418,473
-
28 · Net assets with donor restrictions
beginning of year $3,500,067 · end of year $3,309,260
Mission and programs · 2023
Mission
TO COLLABORATIVELY CREATE QUALITY ECONOMIC GROWTH AND WORKFORCE DEVELOPMENT IN SIOUX FALLS.
-
THE SIOUX FALLS DEVELOPMENT FOUNDATION SEEKS TO PROMOTE THE GENERAL WELFARE OF THE CITY OF SIOUX FALLS, SD AND THE SURROUNDING COMMUNITY BY FOSTERING BUISNESS AND EMPLOYMENT. THIS PRUPOSE WAS ACHIEVED IN 2023 THROUGH THE SALE OF 142 ACRES OF LAND TO NEW AND EXISTING BUSINESSES ALONG WITH WORKFORCE DEVELOPMENT ACTIVITIES THAT REACHED 21,000 POTENTIAL EMPLOYEES AND 259 PROSPECTIVE EMPLOYERS.
-
PARTNERS WITH VARIOUS ORGANIZATIONS TO ASSIST NEW AND EXISTING BUSINESS, MARKET OUR COMMUNITY AND FOSTER EMERGING INDUSTRIES, PROMOTE INTERNATIONAL TRADE SERVICES OFFICE FOR THE STATE OF SOUTH DAKOTA.
-
THE ORGANIZATION PLACES A STRONG EMPHASIS ON WORKFORCE DEVELOPMENT.
As filed on the 2023 return.
Listed in Part VII
-
Bob MundtBOB MUNDT
PRESIDENT &
- Total calculated
- $287,209
- From this org
- $241,167
- From related orgs
- $0
- Other
- $46,042
- Hours/week
- 60
Schedule J breakdown matched by us
- Base
- $213,397
- Bonus
- $20,000
- Other
- $7,770
- Deferred
- $14,470
- Nontaxable benefits
- $31,572
- Filer's total
- $287,209
-
Dean DziedzicDEAN DZIEDZIC
VP - ECONOMI
- Total calculated
- $216,844
- From this org
- $192,295
- From related orgs
- $0
- Other
- $24,549
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $174,117
- Bonus
- $10,000
- Other
- $8,178
- Deferred
- $11,103
- Nontaxable benefits
- $13,446
- Filer's total
- $216,844
-
Cory BuckCORY BUCK
CFO
- Total calculated
- $191,889
- From this org
- $153,667
- From related orgs
- $0
- Other
- $38,222
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $152,882
- Bonus
- not reported
- Other
- $785
- Deferred
- $9,217
- Nontaxable benefits
- $29,005
- Filer's total
- $191,889
-
Denise GuzzettaDENISE GUZZETTA
VP - WORKFOR
- Total calculated
- $156,784
- From this org
- $142,154
- From related orgs
- $0
- Other
- $14,630
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $142,154
- Bonus
- not reported
- Other
- not reported
- Deferred
- $8,238
- Nontaxable benefits
- $6,392
- Filer's total
- $156,784
-
Clint AckermanCLINT ACKERMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Raquel BlountRAQUEL BLOUNT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Ryan BoscheeRYAN BOSCHEE
CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Brett BradfieldBRETT BRADFIELD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Kurt BrostKURT BROST
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Kent CutlerKENT CUTLER
CHAIR ELECT
- Total calculated
- $0
- Hours/week
- 2
-
Chris EkstrumCHRIS EKSTRUM
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Kira KimballKIRA KIMBALL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Randy KnechtRANDY KNECHT
TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Julie LauttJULIE LAUTT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Dave LinkDAVE LINK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Clark MeyerCLARK MEYER
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
Tony NourTONY NOUR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Anthony SaighANTHONY SAIGH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Karla SantiKARLA SANTI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Keith SeversonKEITH SEVERSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Al SpencerAL SPENCER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Steve WatsonSTEVE WATSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Scott WickershamSCOTT WICKERSHAM
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Compensation committee
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
-
$139,989
CHILDCARE GRANT
-
$84,409
CHILDCARE GRANT
-
$70,821
CHILDCARE GRANT
-
$23,726
ECONOMIC ASSISTANCE
-
SFC GLOBAL SUPPLY CHAIN INC
no cash amount reported
ECONOMIC DEVELOPMENT
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
FORWARD SIOUX FALLS PROJECT
RELATED · ECO DEV · SD · 50% owned · share of income -$1,175,798 · share of assets $4,053,095 · general or managing partner
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 30 January 2025
- IRS schema version
- 2023v6.0
- Source object
- 202520349349301727
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