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Nonprofiteer
← GREATER ST CLOUD DEVELOPMENT CORPORATION

Form 990 for tax year 2022

Filed by GREATER ST CLOUD DEVELOPMENT CORPORATION.

Totals

Total revenue
$1,413,626
Total expenses
$1,130,152
Contributions and grants received
$1,201,904
Grants paid
$0
Program service revenue
$79,688
Investment income
$3,033
Other revenue
$129,001
Total assets, end of year
$1,353,759
Total liabilities, end of year
$551,922
Net assets or fund balances, end of year
$801,837
Program services expenses (Part IX)
$947,517
Management and general expenses
$160,974
Fundraising expenses
$21,661
Program service expenses (Part III)
$947,517

Program services were 83.8% 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.

  • 1f · All other contributions, gifts and grants

    $1,201,904

  • 1g · Noncash contributions included above

    $6,000

  • 2a · Program service revenue: SPONSORSHIPS

    total $45,688 · related or exempt $45,688

  • 2b · Program service revenue: PROGRAM FEES

    total $34,000 · related or exempt $34,000

  • 3 · Investment income

    total $3,033 · excluded $3,033

  • 11a · Other revenue: MISCELLANEOUS

    total $102,554 · related or exempt $102,554

  • 11b · Other revenue: RENT CREDITS

    total $26,447 · related or exempt $26,447

  • 11e · Other revenue, total

    $129,001

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $177,135 · program services $126,525 · management and general $42,175 · fundraising $8,435

  • 7 · Other salaries and wages

    total $214,213 · program services $166,986 · management and general $36,095 · fundraising $11,132

  • 9 · Other employee benefits

    total $10,952 · program services $8,214 · management and general $2,190 · fundraising $548

  • 10 · Payroll taxes

    total $29,832 · program services $22,374 · management and general $5,966 · fundraising $1,492

  • 11a · Fees: management

    total $31,189 · program services $28,859 · management and general $2,330

  • 11c · Fees: accounting

    total $55,110 · program services $31,825 · management and general $23,285

  • 11g · Fees: other

    total $184,021 · program services $178,801 · management and general $5,220

  • 12 · Advertising and promotion

    total $159,567 · program services $154,324 · management and general $5,243

  • 13 · Office expenses

    total $2,653 · program services $2,382 · management and general $271

  • 16 · Occupancy

    total $99,533 · program services $85,033 · management and general $14,500

  • 17 · Travel

    total $3,588 · program services $1,089 · management and general $2,499

  • 19 · Conferences, conventions and meetings

    total $69,380 · program services $62,575 · management and general $6,805

  • 20 · Interest

    total $493 · program services $400 · management and general $93

  • 22 · Depreciation, depletion and amortization

    total $16,270 · program services $13,939 · management and general $2,331

  • 23 · Insurance

    total $1,086 · program services $953 · management and general $79 · fundraising $54

  • 24a · Other expenses: EQUIPMENT RENTAL

    total $60,595 · program services $51,202 · management and general $9,393

  • 24b · Other expenses: DUES AND SUBSCRIPTIONS

    total $8,515 · program services $7,039 · management and general $1,476

  • 24c · Other expenses: PROFESSIONAL DEVELOPMEN

    total $6,020 · program services $4,997 · management and general $1,023

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $226,683 · end of year $350,506

  • 2 · Savings and temporary cash investments

    beginning of year $615,544 · end of year $618,558

  • 3 · Pledges and grants receivable

    beginning of year $4,500 · end of year $15,381

  • 4 · Accounts receivable

    beginning of year $41,958 · end of year $32,276

  • 9 · Prepaid expenses and deferred charges

    beginning of year $41,676 · end of year $29,919

  • 10a · Land, buildings and equipment: cost or other basis

    $222,834

  • 10b · Land, buildings and equipment: accumulated depreciation

    $133,181

  • 10c · Land, buildings and equipment, net

    beginning of year $105,923 · end of year $89,653

  • 15 · Other assets

    beginning of year $0 · end of year $217,466

  • 17 · Accounts payable and accrued expenses

    beginning of year $44,744 · end of year $70,920

  • 19 · Deferred revenue

    beginning of year $193,110 · end of year $176,735

  • 24 · Unsecured notes and loans payable

    beginning of year $41,344

  • 25 · Other liabilities

    beginning of year $238,723 · end of year $304,267

  • 27 · Net assets without donor restrictions

    beginning of year $513,863 · end of year $786,456

  • 28 · Net assets with donor restrictions

    beginning of year $4,500 · end of year $15,381

Mission and programs · 2022

Mission

SEE PAGE 1, PART 1

Activities or mission (Part I)

TO LEAD INCLUSIVE & EQUITABLE ECONOMIC DEVELOPMENT FOR THE BENEFIT OF THE GREATER ST CLOUD COMMUNITY

  • COMMUNITY DEVELOPMENT IN ORDER TO ATTRACT, RETAIN AND EXPAND BUSINESSES WITHIN THE REGION, THE GSDC IS FOCUSED ON BUILDING AND DEVELOPING THE COMMUNITY THROUGH MULTIPLE STRATEGIC INITIATIVES THAT SUPPORT BUSINESS DEVELOPMENT 1) IMPROVE ACCESS TO THE REGION BY EXPANDING THE REGIONAL TRANSPORTATION INFRASTRUCTURE: GSDC SUCCESSFULLY LED EFFORTS RESULTING IN THE CREATION OF A REGIONAL AIRPORT AUTHORITY TO MORE EFFECTIVELY OPERATE AND GROW AIR SERVICE AT THE ST. CLOUD REGIONAL AIRPORT. GDSC ALSO COLLABORATES WITH THE I94 WEST COALITION TO PROMOTE CONTINUED EXPANSION OF I94 FROM THE TWIN CITIES TO THE ST CLOUD REGION. 2) GSDC AGGRESSIVELY MARKETS AND PROMOTES THE REGION FOR TALENT AND BUSINESS ATTRACTION, RETENTION AND EXPANSIONVIA A COMPREHENSIVE WEBSITE (WWW.STCLOUDSHINES.COM), THROUGH AN EXPANSIVE SOCIAL MEDIA CAMPAIGN THAT HAS GARNERED MORE THAN 170 MILLION IMPRESSIONS VIA FACEBOOK AND INSTAGRAM SINCE ITS LAUNCH IN 2019 AND BY SHOWCASING MORE THAN 20,000 JOBS AVAILABLE WITH MORE THAN 1,300 EMPLOYERS IN THE REGION. 3) GSDC CONTINUES TO HOST AND SUPPORT THE HARVARD BASED YOUNG AMERICAN LEADERS COHORT INITIATIVE. 4) GSDC HOSTED EXECUTIVE ROUNDTABLE SESSIONS ON CRITICAL TOPICS OF INTEREST TO OUR EMPLOYERS (E.G. TALENT RECRUITMENT & RETENTION, MENTAL HEALTH IN THE WORKPLACE, SUPPLY CHAIN & CHILDCARE CHALLENGES). 5) GSDC COLLABORATES AND ACTIVELY ENGAGED WITH THE NEWLY FORMED DOWNTOWN ALLIANCE TO PROMOTE REVITALIZATION EFFORTS FOR THE DOWNTOWN ST. CLOUD REGION. 6) GSDC SOLICITED AND RECOGNIZED FOUR COMPANIES/ORGANIZATIONS WITH INNOVATION AWARDS. 7) GSDC PROVIDES ADMINISTRATIVE AND FISCAL HOSTING SERVICES TO SUPPORT THE EPIC PROGRAM (EXPLORING POTENTIAL INTERESTS AND CAREERS). 8) GSDC CONTINUES TO LEAD AND CONVENE COMMUNITY LEADERS IN EFFORTS TO ADDRESS DIVERSITY, EQUITY, AND INCLUSION NEEDS IN THE REGION THAT WILL LEAD TO EVENTUAL ELIMINATION OF THE RACIAL DISPARITIES GAP.

    Expenses $473,758 · Revenue $104,345

  • BUSINESS RETENTION AND EXPANSION THE GSDC CONTINUES TO TAKE A LEADERSHIP ROLE IN PARTNERING WITH LOCAL CITIES, COUNTIES AND CHAMBERS OF COMMERCE TO DEPLOY STANDARDIZED, REGIONAL PROCESSES FOR BUSINESS RETENTION AND EXPANSION. THE GSDC HAS DEVELOPED THESE STREAMLINED PROCESSES BASED ON BEST PRACTICES, STANDARD TOOLS AND TECHNOLOGY. IN 2022, THE GSDC CONDUCTED MORE THAN 51 VISITS AND/OR INTERVIEWS WITH LOCAL PRIMARY SECTOR BUSINESSES.

    Expenses $426,383 · Revenue $93,910

  • BUSINESS ATTRACTION & STARTUP - GSDC TAKES A LEADERSHIP POSITION IN PARTNERING WITH LOCAL CITIES, COUNTIES AND THE STATE OF MN TO REPLOY COLLABORATIVE REGIONAL PROCESSES AND RESPONSES TO BUSINESS ATTRACTION. GSDC IS AN ENGAGED MEMBER IN THE MN MARKETING PARTNERSHIP WHICH IS LED BY DEED TO ATTRACT BUSINESS TO MINNESOTA. GSDC ASSISTED 200+ ENTREPRENEURS AND STARTUPS THROUGH ITS CONTINUED DESIGNATION AS A "LAUNCH MINNESOTA" HUB. GSDC ALSO RESPONDED TO 9 BUSINESS ATTRACTION INQUIRIES IN 2022 AND 170 COLLECTIVELY SINCE 2014.

    Expenses $47,376 · Revenue $10,434

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Mike Blair

    TREASURER

    Total calculated
    $0
    Hours/week
    3

  • Heather Pieper Olson

    MARKETING COMMITTEE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Paul Pfeiffer

    AT-LARGE DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Michael Faber

    AT-LARGE DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Dr Kenneth Holmen

    AT-LARGE DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • John Torgerson

    AT-LARGE DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Brian Myres

    PAST BOARD CHAIR

    Total calculated
    $0
    Hours/week
    3

  • Patti Gartland

    PRESIDENT

    Total calculated
    $177,135
    From this org
    $172,074
    From related orgs
    $0
    Other
    $5,061
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $172,074
    Bonus
    $0
    Other
    $0
    Deferred
    $5,061
    Nontaxable benefits
    $0
    Filer's total
    $177,135

  • Ron Brandenburg

    CORPORATE SECRETARY

    Total calculated
    $0
    Hours/week
    3

  • Jeff Gau

    AT-LARGE DIRECTOR & SAC VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Mike Markman

    AT-LARGE DIRECTOR & SAC CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Joan Schatz

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    10

  • Matt Varilek

    AT-LARGE DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Dr Robbyn Wacker

    AT-LARGE DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Pat Edeburn

    AT-LARGE DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Stephanie Brown

    BOARD VICE CHAIR & SAC VICE CHAIR

    Total calculated
    $0
    Hours/week
    3

  • Lori Kloos

    AT-LARGE DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Mike Gohman

    AT-LARGE DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Brian Bruess

    AT-LARGE DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Brad Bergstrom

    AT-LARGE DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Buddy King

    AT-LARGE DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Dave Meyer

    AT-LARGE DIRECTOR

    Total calculated
    $0
    Hours/week
    2

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 · 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
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
26 June 2023
IRS schema version
2022v5.0
Source object
202342849349300514

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