Form 990 for tax year 2022
Filed by SIOUX FALLS DEVELOPMENT FOUNDATION INC.
Totals
- Total revenue
- $16,811,116
- Total expenses
- $2,831,082
- Contributions and grants received
- $13,219,473
- Grants paid
- $454,338
- Program service revenue
- $68,471
- Investment income
- $297,677
- Other revenue
- $3,225,495
- Total assets, end of year
- $87,105,498
- Total liabilities, end of year
- $26,765,255
- Net assets or fund balances, end of year
- $60,340,243
- Program services expenses (Part IX)
- not reported
- Management and general expenses
- not reported
- Fundraising expenses
- not reported
- Program service expenses (Part III)
- not reported
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
$139,165
-
1e · Government grants (contributions)
$12,652,058
-
1f · All other contributions, gifts and grants
$428,250
-
2a · Program service revenue: Workforce Development
total $44,089 · related or exempt $44,089
-
2b · Program service revenue: Management Fee
total $24,382 · related or exempt $24,382
-
3 · Investment income
total $297,677 · excluded $297,677
-
6a · Gross rents
real property $21,665
-
6b · Less rental expenses
real property $15,270
-
6c · Rental income or loss
real property $6,395
-
6d · Net rental income or loss
total $6,395 · related or exempt $6,395
-
10a · Gross sales of inventory
$10,340,895
-
10b · Cost of goods sold
$7,122,746
-
10c · Net income from sales of inventory
total $3,218,149 · related or exempt $3,218,149
-
11a · Other revenue: Miscellaneous Revenue
total $951 · related or exempt $951
-
11e · Other revenue, total
$951
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $454,338
-
5 · Compensation of officers, directors and key employees
total $644,234
-
7 · Other salaries and wages
total $477,795
-
8 · Pension plan contributions
total $37,187
-
9 · Other employee benefits
total $19,572
-
10 · Payroll taxes
total $77,983
-
11b · Fees: legal
total $54,519
-
11c · Fees: accounting
total $33,816
-
11g · Fees: other
total $109,349
-
12 · Advertising and promotion
total $3,333
-
13 · Office expenses
total $12,740
-
14 · Information technology
total $58,034
-
16 · Occupancy
total $78,551
-
17 · Travel
total $5,069
-
19 · Conferences, conventions and meetings
total $22,834
-
20 · Interest
total $5,567
-
22 · Depreciation, depletion and amortization
total $39,766
-
23 · Insurance
total $22,774
-
24a · Other expenses: Program Expenses
total $439,414
-
24b · Other expenses: Real Estate Taxes
total $192,008
-
24c · Other expenses: BNSF Railroad Fee
total $28,475
-
24d · Other expenses: Miscellaneous Expenses
total $11,689
-
24e · All other expenses
total $2,035
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $10,964,619 · end of year $9,885,353
-
3 · Pledges and grants receivable
beginning of year $10,421,086 · end of year $15,944,464
-
4 · Accounts receivable
beginning of year $8,057 · end of year $4,198,458
-
8 · Inventories for sale or use
beginning of year $41,469,700 · end of year $47,963,141
-
9 · Prepaid expenses and deferred charges
beginning of year $198,919 · end of year $21,822
-
10a · Land, buildings and equipment: cost or other basis
$224,073
-
10b · Land, buildings and equipment: accumulated depreciation
$165,717
-
10c · Land, buildings and equipment, net
beginning of year $88,416 · end of year $58,356
-
11 · Investments: publicly traded securities
end of year $5,211,088
-
13 · Investments: program-related
beginning of year $2,442,870 · end of year $3,009,442
-
15 · Other assets
beginning of year $608,964 · end of year $813,374
-
17 · Accounts payable and accrued expenses
beginning of year $3,887,462 · end of year $1,600,974
-
19 · Deferred revenue
beginning of year $3,125,419 · end of year $3,044,169
-
23 · Secured mortgages and notes payable
beginning of year $11,321,729 · end of year $19,012,709
-
25 · Other liabilities
beginning of year $1,880,813 · end of year $3,107,403
-
27 · Net assets without donor restrictions
beginning of year $43,114,157 · end of year $56,840,176
-
28 · Net assets with donor restrictions
beginning of year $2,873,051 · end of year $3,500,067
Mission and programs · 2022
Mission
To collaboratively create quality economic growth and workforce development in the Sioux Falls MSA to improve our quality of life.
Activities or mission (Part I)
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 business and employment. This purpose was achieved in 2022 through the sale of 66.2 acres of industrial park land to new and existing businesses along with workforce development activities that reached 22,000 potential employees and 141 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 2022 return.
Listed in Part VII
-
Kurt Loudenback
Past Chair
- Total calculated
- $0
- Hours/week
- 2
-
Steve Kolbeck
Chair
- Total calculated
- $0
- Hours/week
- 2
-
Kent Cutler
Secretary
- Total calculated
- $0
- Hours/week
- 2
-
Clark Meyer
Treasurer
- Total calculated
- $0
- Hours/week
- 2
-
Ryan Boschee
Chair-Elect
- Total calculated
- $0
- Hours/week
- 2
-
Clint Ackerman
Director
- Total calculated
- $0
- Hours/week
- 1
-
Dr Brett Bradfield
Director
- Total calculated
- $0
- Hours/week
- 1
-
Chris Ekstrum
Director From 01/01/23
- Total calculated
- $0
- Hours/week
- 1
-
Jeff Fiegen
Director
- Total calculated
- $0
- Hours/week
- 1
-
Kira Kimball
Director
- Total calculated
- $0
- Hours/week
- 1
-
Randy Knecht
Director
- Total calculated
- $0
- Hours/week
- 1
-
Julie Lautt
Director
- Total calculated
- $0
- Hours/week
- 1
-
David Link
Director
- Total calculated
- $0
- Hours/week
- 1
-
Clark Meyer
Director
- Total calculated
- $0
- Hours/week
- 1
-
Tony Nour
Director
- Total calculated
- $0
- Hours/week
- 1
-
Karla Santi
Director
- Total calculated
- $0
- Hours/week
- 1
-
Keith Severson
Director
- Total calculated
- $0
- Hours/week
- 1
-
Al Spencer
Director
- Total calculated
- $0
- Hours/week
- 1
-
Steve Watson
Director
- Total calculated
- $0
- Hours/week
- 1
-
Raquel Blount
Director From 01/01/23
- Total calculated
- $0
- Hours/week
- 1
-
Tim McCarthy
Director Until 12/31/22
- Total calculated
- $0
- Hours/week
- 1
-
Bob Mundt
President & CEO
- Total calculated
- $283,332
- From this org
- $228,684
- From related orgs
- $0
- Other
- $54,648
- Hours/week
- 60
Schedule J breakdown matched by us
- Base
- $202,684
- Bonus
- $20,000
- Other
- $6,000
- Deferred
- $14,454
- Nontaxable benefits
- $42,369
- Filer's total
- $285,507
-
Cory Buck
Vice President - Finance
- Total calculated
- $146,027
- From this org
- $108,317
- From related orgs
- $0
- Other
- $37,710
- Hours/week
- 45
-
Dean Dziedzic
Vice President - Economic
- Total calculated
- $206,346
- From this org
- $177,718
- From related orgs
- $0
- Other
- $28,628
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $160,518
- Bonus
- $10,000
- Other
- $7,200
- Deferred
- $11,456
- Nontaxable benefits
- $18,478
- Filer's total
- $207,652
-
Denise Guzzetta
Vice President - Workforce
- Total calculated
- $144,353
- From this org
- $126,494
- From related orgs
- $0
- Other
- $17,859
- Hours/week
- 45
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
-
SF Indy Group LLC
$453,838
Infrastructure Improvement
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 · Economic development · SD · 50% owned · share of income -$1,020,259 · share of assets $5,127,499 · general or managing partner
Directly controlled by Sioux Falls Development Foundation
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 26 July 2024
- IRS schema version
- 2022v5.0
- Source object
- 202412119349300776
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