Totals
- Total revenue
- $3,319,306
- Total expenses
- $2,981,658
- Contributions and grants received
- $1,470,312
- Grants paid
- $0
- Program service revenue
- $1,717,068
- Investment income
- $61,134
- Other revenue
- $70,792
- Total assets, end of year
- $4,714,686
- Total liabilities, end of year
- $1,536,546
- Net assets or fund balances, end of year
- $3,178,140
- Program services expenses (Part IX)
- $2,673,227
- Management and general expenses
- $299,146
- Fundraising expenses
- $9,285
- Program service expenses (Part III)
- not reported
Program services were 89.7% 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
$659,152
-
1d · Related organizations
$32,118
-
1e · Government grants (contributions)
$208,919
-
1f · All other contributions, gifts and grants
$570,123
-
1g · Noncash contributions included above
$79,426
-
2a · Program service revenue: PROGRAM SERVICE REVENUE
total $634,703 · related or exempt $634,703
-
2b · Program service revenue: LODGING TAX INCOME
total $622,499 · related or exempt $622,499
-
2c · Program service revenue: ECONOMIC DEVELOPMENT
total $324,755 · related or exempt $324,755
-
2d · Program service revenue: SPONSORSHIPS
total $135,111 · related or exempt $135,111
-
3 · Investment income
total $61,007 · excluded $61,007
-
7a · Gross sales of assets other than inventory
securities $134,099
-
7b · Less cost or other basis and sales expenses
securities $133,972
-
7c · Gain or loss
securities $127
-
7d · Net gain or loss
total $127 · related or exempt $127
-
8a · Fundraising events: gross income
$13,376
-
8b · Fundraising events: direct expenses
$1,110
-
8c · Net income from fundraising events
total $12,266 · excluded $12,266
-
11a · Other revenue: MISCELLENEOUS INCOME
total $58,526 · excluded $58,526
-
11e · Other revenue, total
$58,526
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $1,307,594 · program services $1,181,803 · management and general $118,076 · fundraising $7,715
-
9 · Other employee benefits
total $168,784 · program services $152,547 · management and general $15,241 · fundraising $996
-
10 · Payroll taxes
total $97,274 · program services $87,916 · management and general $8,784 · fundraising $574
-
11b · Fees: legal
total $367 · program services $297 · management and general $70
-
11f · Fees: investment management
total $50,017 · program services $41,625 · management and general $8,392
-
11g · Fees: other
total $29,625 · program services $23,978 · management and general $5,647
-
12 · Advertising and promotion
total $424 · program services $343 · management and general $81
-
13 · Office expenses
total $32,783 · program services $26,535 · management and general $6,248
-
14 · Information technology
total $42,723 · program services $34,580 · management and general $8,143
-
16 · Occupancy
total $204,791 · program services $165,757 · management and general $39,034
-
17 · Travel
total $46,410 · program services $37,564 · management and general $8,846
-
20 · Interest
total $2,190 · program services $1,773 · management and general $417
-
22 · Depreciation, depletion and amortization
total $30,656 · program services $26,146 · management and general $4,510
-
23 · Insurance
total $8,983 · program services $7,271 · management and general $1,712
-
24a · Other expenses: EVENTS
total $571,080 · program services $571,080
-
24b · Other expenses: MARKETING RESEARCH
total $119,401 · program services $96,643 · management and general $22,758
-
24c · Other expenses: MISCELLANEOUS
total $53,838 · program services $43,577 · management and general $10,261
-
24d · Other expenses: PRIZES
total $49,096 · program services $39,738 · management and general $9,358
-
24e · All other expenses
total $165,622 · program services $134,054 · management and general $31,568
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,231,771 · end of year $49,711
-
2 · Savings and temporary cash investments
end of year $2,321,446
-
3 · Pledges and grants receivable
beginning of year $299,327 · end of year $485,171
-
4 · Accounts receivable
beginning of year $190,209 · end of year $143,367
-
9 · Prepaid expenses and deferred charges
beginning of year $81,789 · end of year $107,443
-
10a · Land, buildings and equipment: cost or other basis
$315,023
-
10b · Land, buildings and equipment: accumulated depreciation
$201,230
-
10c · Land, buildings and equipment, net
beginning of year $88,524 · end of year $113,793
-
11 · Investments: publicly traded securities
beginning of year $570,927 · end of year $640,941
-
14 · Intangible assets
beginning of year $968,281 · end of year $852,814
-
17 · Accounts payable and accrued expenses
beginning of year $66,991 · end of year $186,992
-
19 · Deferred revenue
beginning of year $570,519 · end of year $447,297
-
24 · Unsecured notes and loans payable
beginning of year $66,791 · end of year $30,566
-
25 · Other liabilities
beginning of year $940,648 · end of year $871,691
-
27 · Net assets without donor restrictions
beginning of year $2,785,879 · end of year $3,178,140
Mission and programs · 2023
Mission
GREATER MANKATO GROWTH EXISTS TO INTENTIONALLY DEVELOP THE REGIONAL CENTER BY PROMOTING, SUPPORTING AND SERVING AS A CATALYST FOR ECONOMIC DEVELOPMENT THROUGH BUSINESS GROWTH, RETENTION AND ATTRACTION, TALENT GROWTH RETENTION AND ATTRACTION, REGIONAL LIVABILITY AND ADVOCACY OF THE MARKETPLACE. GREATER MANKATO GROWTH, INC. INCLUDES THREE LLC'S: VISIT MANKATO, LLC WHICH FOCUSES ON VISITOR ATTRACTION AND SERVICING, THE CITY CENTER PARTNERSHIP, LLC, WHICH FOCUSES ON DEVELOPMENT IN THE CITY CENTER, AND GREENSEAM, LLC WHICH FOCUSES ON DEVELOPMENT OF EXISTING AG BUSINESS ACROSS SOUTHERN MINNESOTA - NORTHERN IOWA TO BE THE PREMIER AG BUSINESS EPICENTER IN THE UNITED STATES.
Activities or mission (Part I)
SEE PAGE 2, PART III LINE 1
-
BUSINESS DEVELOPMENT --THE 2023 BUSINESS AWARDS AND HALL OF FAME SOLD OUT. 417 PARTICIPANTS AND 14 AWARDS WERE PRESENTED BETWEEN OUR FOUR BUSINESS UNITS. --PARTNERED WITH SOUTH CENTRAL TOUR OF MANUFACTURING FEATURING 15 AREA ORGANIZATIONS HOSTING 443 STUDENTS FROM 19 LOCAL SCHOOLS. --RESIDENT RECRUITMENT PROGRAM IN TWIN CITIES, ST. COULD, AND CHICAGO WITH OVER 10 MILLION IMPRESSIONS. --GREENSEAM PRESENTED AT THE MN AG EXPO, FARMFEST, MN PORK CONGRESS, AND MN CHAMBER OF COMMERCE ANNUAL MEETINGS. --CITY CENTER PARTNERSHIP'S BONUS GIFT CARD PROGRAM SAW 26,428 IN RECEIPTS TURNED IN FOR BONUS GIFT CARDS EQUATING TO 3.50 IN ADDITIONAL SPENDING FOR EVERY 1 CCP INVESTED. --GREATER MANKATO HOSTED THE 2022 ANNUAL MEETING, 395 PEOPLE ATTENDED. --48 SPORTS, 30 CONFERENCES AND 13 LEISURE EVENTS BROUGHT 12 MILLION TO THE REGION. --MANKATO MARATHON HOSTED 3,398 RUNNERS WITH AN ECONOMIC IMPACT OF 2 MILLION. --GREATER MANKATO GOLF TOURNAMENT GATHERED 144 GOLFERS ALONG WITH OVER 100 GUESTS AND OVER 30 SPONSORS FOR BUSINESS CONNECTIONS AND NETWORKING. --CREATED THE FIRST MEMBER SHOWCASE ONLINE AUCTION WITH OVER 100 MEMBER BUSINESSES DONATING ITEMS. --WORKED WITH MORE THAN 1,000 STAKEHOLDERS TO SHAPE THE FUTURE VISION OF GREATER MANKATO. --280 ATTENDEES JOINED GREENSEAM'S CELEBRATION OF AG EVENT. --E-NEWS SUBSCRIBERS INCREASED 40%, FACEBOOK LIKES INCREASED 289% AND --INSTAGRAM FOLLOWERS INCREASED 254% --1,500 ATTENDEES FOR MONTHLY BUSINESS AFTER HOURS MONTHLY NETWORKING EVENTS. --GREENSEAM HOSTED THE CELEBRATION OF AG WITH OVER 250 ATTENDEES.
-
LIVABILITY --32 NEW SCULPTURES WERE INSTALLED ON THE 13TH ANNIVERSARY OF WALKING SCULPTURE TOUR --CITY CENTER PARTNERSHIP HOSTED 3 INSTALLMENTS OF THE FREE CONCERT SERIES - ALIVE AFTER 5, ATTRACTING MORE THAN 1,400 VISITORS --HOSTED 4 INSTALLMENTS OF SONGS ON THE LAWN, ALSO A FREE CONCERT SERIES, BRINGING IN OVER 2,000 VISITORS. --16 BUSINESSES PARTICIPATED IN THE LET IT GLOW CAMPAIGN IN 2023.
-
ADVOCACY & VISIBILITY --HOSTED 3 LEGISLATIVE FORUMS. --GREATER MANKATO AT THE CAPITOL HOSTED MORE THAN 30 BUSINESS AND COMMUNITY LEADERS WHO ME WITH THE GOVER AND 6 LEGISLATORS. --SECURED 100M IN TAX RELIEF --GREENSEAM PUBLISHED THE 2023 STATE OF AG SURVEY REPORT, FOCUSING ON THE STATE OF AGRICULTURE IN OUR REGION.
-
TALENT --192 MEMBERS INVOLVED IN YOUNG PROFESSIONALS WITH 82 NEW MEMBERS. --GREENSEAM HELPED MANKATO AREA SCHOOLS SECURE FUNDING TO HIRE A NEW AG TEACHER WHICH ALLOWED +400 STUDENTS TO GO THROUGH THE AG PROGRAM IN 2021. --40 PARTICIPANTS GRADUATED FROM LEADERSHIP INSTITUTE IN AUG 2023. --DEI COLLABORATIVE GRADUATED 29 PARTICIPANTS IN MAY, 2023. --17 BUSINESS AND NON-PROFIT LEADERS PARTICIPATED IN THE EXECUTIVE SOUNDING BOARD PROGRAM. --GLOBAL WORKFORCE PROGRAM TECHNICAL ASSISTANCE FOR AG BUSINESSES SEEKING TO HIRE NON-US CITIZENS. ORGANIZATIONAL --6TH LARGEST CHAMBER OF COMMERCE IN MN --910 MEMBERS, 56 NEW MEMBERS --34 VOLUNTEERS WITH GREATER MANKATO CAVALIERS --82 AMBASSADORS' VISITS FOR NEW BUSINESSES IN THE GREATER MANKATO AREA WITH 50 VOLUNTEERS.
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
David KrauseDAVID KRAUSE
CHAIR
- Total calculated
- $0
- Hours/week
- 2.5 + 1 related
-
David KimDAVID KIM
VICE-CHAIR
- Total calculated
- $0
- Hours/week
- 2.5 + 1 related
-
Ben EllingsonBEN ELLINGSON
TREASURER/SE
- Total calculated
- $0
- Hours/week
- 2.5 + 5 related
-
Jessica BeyerJESSICA BEYER
PRESIDENT AN
- Total calculated
- $165,000
- From this org
- $159,135
- From related orgs
- $0
- Other
- $5,865
- Hours/week
- 40 + 5 related
Schedule J breakdown matched by us
- Base
- $159,135
- Bonus
- not reported
- Other
- not reported
- Deferred
- $5,865
- Nontaxable benefits
- not reported
- Filer's total
- $165,000
-
Jamie JacobsJAMIE JACOBS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Christine PowersCHRISTINE POWERS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Jennifer SpaudeJENNIFER SPAUDE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Najwa MassadNAJWA MASSAD
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Dr Cuong HuynhDR CUONG HUYNH
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Jo Guck BaileyJO GUCK BAILEY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Liz UlmanLIZ ULMAN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Wesley OttoWESLEY OTTO
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Dr Mark DehenDR MARK DEHEN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Alec PfefferALEC PFEFFER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Keri JohnsonKERI JOHNSON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Dr Paul PetersonDR PAUL PETERSON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Gary KochGARY KOCH
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Dr James Hebl MDDR JAMES HEBL MD
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Susan ArntzSUSAN ARNTZ
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Samantha BoeckSAMANTHA BOECK
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Kevin McCannKEVIN MCCANN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Jessica PotterJESSICA POTTER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Dr Edward InchDR EDWARD INCH
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Dr Annette ParkerDR ANNETTE PARKER
BOARD MEMBER
- 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
None.
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
No itemized grants to organizations on this return.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
GREATER MANKATO GROWTH INC FOUND
3 · GRANTS · MN · controlled entity
Directly controlled by GMG INC
-
3 · GRANTS · MN · controlled entity
Directly controlled by GMG INC
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.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
PROMOTION · MN · income $1,077,815 · assets $1,001,229
Directly controlled by GMG INC
-
CITY CENTER PARTNERSHIP LLC
PROMOTION · MN · income $67,469 · assets $81,423
Directly controlled by GMG INC
-
GREENSEAM LLC
PROMOTION · MN · income $704,921 · assets $941,824
Directly controlled by GMG INC
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 15 August 2024
- IRS schema version
- 2023v5.0
- Source object
- 202432339349300948
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