← MINNEAPOLIS - ST PAUL REGIONAL ECONOMIC DEVELOPMENT PARTNERSHIP

Form 990 for tax year 2024

Filed by MINNEAPOLIS - ST PAUL REGIONAL ECONOMIC DEVELOPMENT PARTNERSHIP.

Totals

Total revenue: $10,270,115
Total expenses: $8,633,502
Contributions and grants received: $10,181,130
Grants paid: $64,500
Program service revenue: $0
Investment income: $88,985
Other revenue: $0
Total assets, end of year: $8,385,747
Total liabilities, end of year: $1,955,584
Net assets or fund balances, end of year: $6,430,163
Program services expenses (Part IX): $6,684,454
Management and general expenses: $1,774,351
Fundraising expenses: $174,697
Program service expenses (Part III): $6,684,454

Program services were 77.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

PETER FROSCH

PRESIDENT & CEO

Total calculated

$515,992

From this org

$501,135

From related orgs

$0

Other

$14,857

Hours/week

40

Schedule J breakdown matched by us

Base

$412,548

Bonus

$88,100

Other

$487

Deferred

$12,845

Nontaxable benefits

$2,012

Filer's total

$515,992
TONYA ALLEN

DIRECTOR

Total calculated

$0

Hours/week

0.5
COMMISSIONER DAVE BEER

DIRECTOR

Total calculated

$0

Hours/week

0.5
MITCH BLESKE

DIRECTOR

Total calculated

$0

Hours/week

0.5
DOUG CARNIVAL

OF COUNSEL

Total calculated

$0

Hours/week

0.5
MAYOR MELVIN CARTER

DIRECTOR

Total calculated

$0

Hours/week

0.5
PRESIDENT REBECCA CUNNINGHAM

DIRECTOR

Total calculated

$0

Hours/week

0.5
DANA ERICKSON

DIRECTOR

Total calculated

$0

Hours/week

0.5
LISA ERICKSON

DIRECTOR

Total calculated

$0

Hours/week

0.5
JEFFREY ETTINGER

DIRECTOR (UNTIL 2/29/2024)

Total calculated

$0

Hours/week

0.5
COMMISSIONER IRENE FERNANDO

DIRECTOR

Total calculated

$0

Hours/week

0.5
BOB FRENZEL

DIRECTOR

Total calculated

$0

Hours/week

0.5
MAYOR JACOB FREY

DIRECTOR

Total calculated

$0

Hours/week

0.5
CHRIS GALVIN

DIRECTOR

Total calculated

$0

Hours/week

0.5
COMMISSIONER MIKE GAMACHE

DIRECTOR

Total calculated

$0

Hours/week

0.5
DARREL GERMAN

DIRECTOR (UNTIL 5/23/2024)

Total calculated

$0

Hours/week

0.5
DOMINIC IANNAZZO

DIRECTOR

Total calculated

$0

Hours/week

0.5
DAN JOHNSON

DIRECTOR (UNTIL 12/31/2024)

Total calculated

$0

Hours/week

0.5
DR ERIC JOLLY

DIRECTOR

Total calculated

$0

Hours/week

0.5
COMMISSIONER STAN KARWOSKI

DIRECTOR

Total calculated

$0

Hours/week

0.5
BARBARA KOSLOSKI

DIRECTOR

Total calculated

$0

Hours/week

0.5
AUDREY LUCAS

DIRECTOR

Total calculated

$0

Hours/week

0.5
MAYOR MIKE MAGUIRE

DIRECTOR

Total calculated

$0

Hours/week

0.5
MATT MARSH

DIRECTOR

Total calculated

$0

Hours/week

0.5
CHAIRMAN COLE MILLER

DIRECTOR

Total calculated

$0

Hours/week

0.5
JON NUDI

DIRECTOR (UNTIL 3/1/2024)

Total calculated

$0

Hours/week

0.5
LAURA OBERST

DIRECTOR

Total calculated

$0

Hours/week

0.5
COMMISSIONER RAFAEL ORTEGA

DIRECTOR

Total calculated

$0

Hours/week

0.5
RT RYBAK

DIRECTOR

Total calculated

$0

Hours/week

0.5
SAHIL SANGHVI

DIRECTOR

Total calculated

$0

Hours/week

0.5
COMMISSIONER SCOTT SCHULTE

DIRECTOR (UNTIL 1/16/2024)

Total calculated

$0

Hours/week

0.5
COMMISSIONER MIKE SLAVIK

DIRECTOR (UNTIL 12/31/2024)

Total calculated

$0

Hours/week

0.5
CHRISTINE SOVEREIGN

DIRECTOR

Total calculated

$0

Hours/week

0.5
JOHN STAUCH

DIRECTOR

Total calculated

$0

Hours/week

0.5
JOHN STERN

DIRECTOR

Total calculated

$0

Hours/week

0.5
COMMISSIONER MATT UDERMANN

DIRECTOR

Total calculated

$0

Hours/week

0.5
ROBERT VISCHER

DIRECTOR

Total calculated

$0

Hours/week

0.5
LAYSHA WARD

DIRECTOR (UNTIL 4/1/2024)

Total calculated

$0

Hours/week

0.5
TIMOTHY A WELSH

DIRECTOR

Total calculated

$0

Hours/week

0.5
BRADLEY WOOD

DIRECTOR

Total calculated

$0

Hours/week

0.5
CHRISTOPHE BECK

CHAIRMAN

Total calculated

$0

Hours/week

1
DENNIS DAHLEN

TREASURER

Total calculated

$0

Hours/week

0.5
RAVI NORMAN

VICE CHAIR

Total calculated

$0

Hours/week

0.5
CATHERINE PENKERT

VICE PRESIDENT, OPERATIONS

Total calculated

$236,614

From this org

$227,378

From related orgs

$0

Other

$9,236

Hours/week

40

Schedule J breakdown matched by us

Base

$201,821

Bonus

$25,070

Other

$487

Deferred

$9,122

Nontaxable benefits

$114

Filer's total

$236,614
MATTHEW K LEWIS

VICE PRESIDENT, PARTNERSHIP STRATEGY

Total calculated

$274,801

From this org

$257,654

From related orgs

$0

Other

$17,147

Hours/week

40

Schedule J breakdown matched by us

Base

$215,167

Bonus

$42,000

Other

$487

Deferred

$12,630

Nontaxable benefits

$4,517

Filer's total

$274,801
MORRIS GOODWIN JR

MANAGING DIRECTOR, FORGE NORTH

Total calculated

$284,036

From this org

$252,260

From related orgs

$0

Other

$31,776

Hours/week

40

Schedule J breakdown matched by us

Base

$234,740

Bonus

$17,520

Other

$0

Deferred

$0

Nontaxable benefits

$31,776

Filer's total

$284,036
AMANDA TAYLOR

VICE PRESIDENT, BUSINESS INVESTMENT

Total calculated

$289,764

From this org

$247,975

From related orgs

$0

Other

$41,789

Hours/week

40

Schedule J breakdown matched by us

Base

$205,888

Bonus

$41,600

Other

$487

Deferred

$10,734

Nontaxable benefits

$31,055

Filer's total

$289,764
JULIA SILVIS

MANAGING DIRECTOR, RESEARCH AND INTELLIGENCE

Total calculated

$226,416

From this org

$215,537

From related orgs

$0

Other

$10,879

Hours/week

40

Schedule J breakdown matched by us

Base

$196,162

Bonus

$19,375

Other

$0

Deferred

$10,782

Nontaxable benefits

$97

Filer's total

$226,416
KRISTIN GUILD

DIRECTOR, BUSINESS BRIDGE AND TALENT SOLUTIONS

Total calculated

$183,234

From this org

$175,565

From related orgs

$0

Other

$7,669

Hours/week

40

Schedule J breakdown matched by us

Base

$160,075

Bonus

$15,490

Other

$0

Deferred

$7,669

Nontaxable benefits

$0

Filer's total

$183,234
IEESHA M COLLINS

ENTERPRISE DIRECTOR, TALENT, INCLUSION, & ENGAGEME

Total calculated

$222,082

From this org

$198,252

From related orgs

$0

Other

$23,830

Hours/week

40

Schedule J breakdown matched by us

Base

$184,557

Bonus

$13,695

Other

$0

Deferred

$8,050

Nontaxable benefits

$15,780

Filer's total

$222,082
JENNIFER M LINDEMER

DIRECTOR, ORGANIZATIONAL DEVELOPMENT

Total calculated

$225,859

From this org

$183,535

From related orgs

$0

Other

$42,324

Hours/week

40

Schedule J breakdown matched by us

Base

$167,535

Bonus

$16,000

Other

$0

Deferred

$9,600

Nontaxable benefits

$32,724

Filer's total

$225,859
JOANNE BERKENKAMP

MANAGING DIRECTOR, MBOLD

Total calculated

$216,687

From this org

$193,838

From related orgs

$0

Other

$22,849

Hours/week

40

Schedule J breakdown matched by us

Base

$181,588

Bonus

$12,250

Other

$0

Deferred

$9,220

Nontaxable benefits

$13,629

Filer's total

$216,687

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

1a · Tax indemnification and gross-up payments
1a · Health or social club dues or initiation fees
1b · Written policy on the line-1a expenses
2 · Substantiation required before reimbursing expenses
3 · Compensation committee
3 · Independent compensation consultant
3 · Form 990 of other organizations
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

The filer's explanations (Part III)

PART I, LINE 1A: GREATER MSP PAID FOR THE ANNUAL DUES TO THE MINNEAPOLIS CLUB (A BUSINESS CLUB) FOR THE ORGANIZATION'S CEO AND VICE PRESIDENTS. THIS BUSINESS CLUB HAS BEEN IDENTIFIED BY THE BOARD AS HAVING MEMBERS YIELDING TREMENDOUS LOCAL, NATIONAL AND GLOBAL IMPACT. THE PRIMARY PURPOSE OF THIS BUSINESS CLUB MEMBERSHIP IS TO CONDUCT BOARD AND COMMITTEE MEETINGS, AND OTHER BUSINESS MEETINGS TO ADVANCE THE AGENDA OF GREATER MSP. ALL EXPENSES ARE SUBSTANTIATED AND EMPLOYEES REIMBURSE GREATER MSP FOR ALL NON-BUSINESS RELATED EXPENSES. THE CEO'S 2024 COMPENSATION INCLUDED A GROSS-UP FOR THE ANNUAL PREMIUM FOR THE CEO'S SUPPLEMENTAL LONG TERM DISABILITY AND SUPPLEMENTAL LIFE INSURANCE PER THE CEO'S EMPLOYMENT CONTRACT. THE ORGANIZATION'S VICE PRESIDENTS' 2024 COMPENSATION INCLUDED A GROSS-UP FOR THE ANNUAL PREMIUM FOR THEIR SUPPLEMENTAL LIFE INSURANCE.

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

GREAT NORTHERN WINTER FESTIVAL

$25,000

SPONSORSHIP OF THE GREAT NORTHERN 2024 FESTIVAL
FILMNORTH

$25,000

SUNDANCE BID PROPOSAL SUPPORT
CEO LEADERSHIP ALLIANCE ORANGE COUNTY

$10,000

SPONSORSHIP OF THE 2024 NATIONAL TALENT COLLABORATIVE

Provenance

Return type: form_990
Tax year: 2024
Filed: 5 November 2025
IRS schema version: 2024v5.2
Source object: 202523109349304017

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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