Totals
- Total revenue
- $17,830,188
- Total expenses
- $863,719
- Contributions and grants received
- $17,447,236
- Grants paid
- $0
- Program service revenue
- $382,952
- Investment income
- $0
- Other revenue
- $0
- Total assets, end of year
- $37,700,692
- Total liabilities, end of year
- $2,171,527
- Net assets or fund balances, end of year
- $35,529,165
- Program services expenses (Part IX)
- $740,994
- Management and general expenses
- $122,725
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $740,994
Program services were 85.8% 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.
-
1e · Government grants (contributions)
$17,447,236
-
2a · Program service revenue: RENTAL INCOME
total $382,952 · related or exempt $382,952
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $151,896 · program services $113,922 · management and general $37,974
-
7 · Other salaries and wages
total $49,459 · program services $40,239 · management and general $9,220
-
10 · Payroll taxes
total $15,042 · program services $11,910 · management and general $3,132
-
11g · Fees: other
total $59,278 · program services $13,015 · management and general $46,263
-
12 · Advertising and promotion
total $28,284 · program services $26,915 · management and general $1,369
-
13 · Office expenses
total $12,716 · management and general $12,716
-
16 · Occupancy
total $105,293 · program services $99,703 · management and general $5,590
-
17 · Travel
total $5,423 · program services $5,423
-
20 · Interest
total $13,167 · program services $13,167
-
22 · Depreciation, depletion and amortization
total $226,139 · program services $222,278 · management and general $3,861
-
23 · Insurance
total $4,086 · program services $4,086
-
24a · Other expenses: REPAIRS AND MAINTENANCE
total $150,909 · program services $150,909
-
24b · Other expenses: DUES/SUBSCRIPTIONS/CONV
total $39,427 · program services $39,427
-
24e · All other expenses
total $2,600 · management and general $2,600
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $123,533 · end of year $353,473
-
3 · Pledges and grants receivable
beginning of year $1,052,109 · end of year $1,754,765
-
4 · Accounts receivable
beginning of year $8,590 · end of year $35,453
-
9 · Prepaid expenses and deferred charges
beginning of year $22,612 · end of year $10,415
-
10a · Land, buildings and equipment: cost or other basis
$27,656,660
-
10b · Land, buildings and equipment: accumulated depreciation
$2,585,724
-
10c · Land, buildings and equipment, net
beginning of year $8,309,645 · end of year $25,070,936
-
13 · Investments: program-related
beginning of year $43,000 · end of year $56,000
-
15 · Other assets
beginning of year $10,114,357 · end of year $10,419,650
-
17 · Accounts payable and accrued expenses
beginning of year $1,020,185 · end of year $960,631
-
24 · Unsecured notes and loans payable
beginning of year $350,000 · end of year $332,132
-
25 · Other liabilities
beginning of year $59,472 · end of year $878,764
-
27 · Net assets without donor restrictions
beginning of year $9,307,785 · end of year $26,610,523
-
28 · Net assets with donor restrictions
beginning of year $8,936,404 · end of year $8,918,642
Mission and programs · 2022
Mission
THE SDSU GROWTH PARTNERSHIP, LTD IS DEDICATED TO SERVE THE BROOKINGS AREA, THE STATE OF SOUTH DAKOTA AND ADJACENT COMMUNITIES AND STATES. TO ACCOMPLISH THIS GOAL, A LONG-TERM DEVELOPMENT STRATEGY HAS BEEN INCORPORATED THAT WILL, OVER DECADES, BUILD UP AN ECONOMIC BASE OF NEWLY DEVELOPED TECHNOLOGIES AND BUSINESSES WHICH WILL EXPAND THROUGHOUT THE REGION AND STATE OF SOUTH DAKOTA. THE RESEARCH PARK WILL CONTINUE TO EXPAND WITH ADDITIONAL BUILDINGS AND RESEARCH PROJECTS, ENHANCING THE ECONOMIC WELL-BEING OF THE CITY OF BROOKINGS AND ITS SURROUNDING AREAS AND IMPROVE ITS QUALITY OF LIFE AND PROSPERITY. THE WHOLE INTENT OF THE PARK IS TO EXPAND AND COMMERCIALIZE UNIVERSITY AND LOCAL INNOVATION. JOB CREATION, EMPLOYEE WEALTH, AND NEW BUSINESS DEVELOPMENT ARE CORE PILLARS TO THE ORGANIZATION.
Activities or mission (Part I)
TO BUILD AN ECONOMIC BASE OF NEWLY DEVELOPED TECHNOLOGIES AND BUSINESSES WITHIN SOUTH DAKOTA.
-
THE SOLE PURPOSE IN CREATING AND DEVELOPING THE RESEARCH PARK IS TO GROW RESEARCH IN THE STATE OF SOUTH DAKOTA. IT WILL BENEFIT THE SCIENTIFIC AND EDUCATIONAL PROGRAMS OF SDSU. THIS IS ACCOMPLISHED BY SUPPORTING EFFORTS TO APPLY LEARNING AND RESEARCH TO CREATE ECONOMIC OPPORTUNITIES. THE RESEARCH PARK THROUGH THE BROOKINGS INNOVATION CENTER PROVIDES START-UP BUSINESSES WITH ACCESS TO SEASONED ENTREPRENEURS. THE RESIDENT ENTREPRENEURS INCLUDE ORGANIZATIONS SUCH AS COPYRIGHT AND TRADEMARK ATTORNEYS; A FULL TIME CPA; PROOF OF CONCEPT FUNDS - ANGEL FUNDS - VENTURE CAPITAL FUNDS; AND ACCESS TO BUSINESS PLANS, MARKETING PLANS AND FINANCIAL PROJECTIONS. THIS PAST YEAR THE BROOKINGS INNOVATION CENTER AND RESEARCH PARK STAFF CONTINUED TO ASSIST UNIVERSITY, COMMUNITY, AND REGIONAL STARTUPS. THE TEAM ALSO WORKS WITH INDUSTRY PARTNERS IN LOCATING INTO THE RESEARCH PARK. THE GROWTH PARTNERSHIP CONTINUES THE CONSTRUCTION OF A 44,000 SQUARE FOOT BIO RESEARCH FACILITY.
Expenses $740,994 · Revenue $382,952
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Jay BenderJAY BENDER
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 0.5
-
Dr Barry DunnDR BARRY DUNN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Kevin TetzlaffKEVIN TETZLAFF
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Larry TidemannLARRY TIDEMANN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Dr Al KurtenbachDR AL KURTENBACH
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Ryan KrogmanRYAN KROGMAN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Ope NiemeyerOPE NIEMEYER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Tony VenhuizenTONY VENHUIZEN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Dwaine ChapelDWAINE CHAPEL
CEO/EXECUTIVE DIRECTOR
- Total calculated
- $151,896
- From this org
- $147,870
- From related orgs
- $0
- Other
- $4,026
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $147,870
- Bonus
- $0
- Other
- $0
- Deferred
- $4,026
- Nontaxable benefits
- $0
- Filer's total
- $151,896
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 survey or study
- 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
- 11 October 2023
- IRS schema version
- 2022v5.0
- Source object
- 202322869349300332
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