Form 990 for tax year 2024
Filed by GREATER ST CLOUD DEVELOPMENT CORPORATION.
Totals
- Total revenue
- $1,101,997
- Total expenses
- $1,138,875
- Contributions and grants received
- $1,016,326
- Grants paid
- $0
- Program service revenue
- $42,838
- Investment income
- $11,997
- Other revenue
- $30,836
- Total assets, end of year
- $1,190,369
- Total liabilities, end of year
- $313,248
- Net assets or fund balances, end of year
- $877,121
- Program services expenses (Part IX)
- $911,110
- Management and general expenses
- $202,225
- Fundraising expenses
- $25,540
- Program service expenses (Part III)
- $911,110
Program services were 80.0% 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)
$161,050
-
1f · All other contributions, gifts and grants
$855,276
-
1g · Noncash contributions included above
$2,750
-
2a · Program service revenue: PROGRAM FEES
total $26,450 · related or exempt $26,450
-
2b · Program service revenue: SPONSORSHIPS
total $16,388 · related or exempt $16,388
-
3 · Investment income
total $11,997 · excluded $11,997
-
11a · Other revenue: RENT CREDITS
total $24,836 · related or exempt $24,836
-
11b · Other revenue: MISCELLANEOUS
total $6,000 · related or exempt $6,000
-
11e · Other revenue, total
$30,836
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $178,000 · program services $142,400 · management and general $26,700 · fundraising $8,900
-
7 · Other salaries and wages
total $288,237 · program services $230,590 · management and general $44,274 · fundraising $13,373
-
9 · Other employee benefits
total $15,259 · program services $12,207 · management and general $2,289 · fundraising $763
-
10 · Payroll taxes
total $39,928 · program services $31,943 · management and general $5,989 · fundraising $1,996
-
11c · Fees: accounting
total $86,460 · program services $69,168 · management and general $17,292
-
11g · Fees: other
total $89,339 · program services $71,471 · management and general $17,868
-
12 · Advertising and promotion
total $140,128 · program services $112,102 · management and general $28,026
-
13 · Office expenses
total $9,995 · program services $7,995 · management and general $1,558 · fundraising $442
-
16 · Occupancy
total $110,272 · program services $88,218 · management and general $22,054
-
17 · Travel
total $5,825 · program services $4,660 · management and general $1,165
-
19 · Conferences, conventions and meetings
total $78,018 · program services $62,414 · management and general $15,604
-
20 · Interest
total $5 · program services $5
-
22 · Depreciation, depletion and amortization
total $16,270 · program services $13,016 · management and general $3,254
-
23 · Insurance
total $1,320 · program services $1,056 · management and general $198 · fundraising $66
-
24a · Other expenses: EQUIPMENT RENTAL
total $50,609 · program services $40,487 · management and general $10,122
-
24b · Other expenses: DUES AND SUBSCRIPTIONS
total $29,159 · program services $23,327 · management and general $5,832
-
24c · Other expenses: MISCELLANEOUS
total $51 · program services $51
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $350,773 · end of year $130,235
-
2 · Savings and temporary cash investments
beginning of year $624,631 · end of year $799,675
-
3 · Pledges and grants receivable
end of year $44,966
-
4 · Accounts receivable
beginning of year $60,108 · end of year $25,750
-
9 · Prepaid expenses and deferred charges
beginning of year $26,748 · end of year $40,765
-
10a · Land, buildings and equipment: cost or other basis
$222,834
-
10b · Land, buildings and equipment: accumulated depreciation
$165,721
-
10c · Land, buildings and equipment, net
beginning of year $73,383 · end of year $57,113
-
15 · Other assets
beginning of year $155,288 · end of year $91,865
-
17 · Accounts payable and accrued expenses
beginning of year $41,303 · end of year $51,080
-
19 · Deferred revenue
beginning of year $72,373 · end of year $45,000
-
25 · Other liabilities
beginning of year $263,256 · end of year $217,168
-
27 · Net assets without donor restrictions
beginning of year $913,999 · end of year $832,155
-
28 · Net assets with donor restrictions
end of year $44,966
Mission and programs · 2024
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 EXPANED BUSINESSES WITHIN THE REGION, THE GSDC PROVIDES TALENT RESOURCING, COMMUNITY DEVELOPMENT, REGIONAL PROMOTION, AND QUALITY OF LIFE ENHANCEMENTS, WHICH INCLUDE SUPPORTING CHILDCARE, HOUSING, TRANSPORTATION, AND DOWNTOWN REVITALIZATION EFFORTS.
Expenses $364,444 · Revenue $29,470
-
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 2024, THE GSDC CONDUCTED OVER 100 VISITS WITH EXISTING PRIMARY SECTOR BUSINESSES.
Expenses $364,444 · Revenue $29,470
-
BUSINESS ATTRACTION & STARTUP - BUSINESS ATTRACTION & STARTUP - GSDC TAKES A LEADERSHIP POSITION IN PARTNERING WITH LOCAL CITIES, COUNTIES AND THE STATE OF MN TO DEPLOY COLLABORATIVE REGIONAL PROCESSES AND RESPONSES TO BUSINESS ATTRACTION. IN 2024, GSDC PROVIDED TECHNICAL ASSISTANCE ON 16 UNIQUE ATTRACTION AND EXPANSION PROJECTS, AND LAUNCHED THRIVE MN, A GROWTH STRATEGY PROGRAM TO BETTER SERVE SMALL BUSINESSES, WHICH SUPPORTED OVER 50 BUSINESSES.
Expenses $182,222 · Revenue $14,734
As filed on the 2024 return.
Listed in Part VII
-
Mike BlairMIKE BLAIR
TREASURER
- Total calculated
- $0
- Hours/week
- 3
-
Heather Pieper OlsonHEATHER PIEPER OLSON
AT-LARGE DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Larry DietzLARRY DIETZ
AT-LARGE DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Michael FaberMICHAEL FABER
AT-LARGE DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Dr Kenneth HolmenDR KENNETH HOLMEN
AT-LARGE DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
John TorgersonJOHN TORGERSON
AT-LARGE DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Ron BrandenburgRON BRANDENBURG
SECRETARY
- Total calculated
- $0
- Hours/week
- 3
-
Jeff GauJEFF GAU
AT-LARGE DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Mike MarkmanMIKE MARKMAN
AT-LARGE DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Joan SchatzJOAN SCHATZ
CHAIR
- Total calculated
- $0
- Hours/week
- 10
-
Ryan CrossRYAN CROSS
AT-LARGE DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Pat EdeburnPAT EDEBURN
AT-LARGE DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Stefanie BrownSTEFANIE BROWN
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 3
-
Lori KloosLORI KLOOS
AT-LARGE DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Mike GohmanMIKE GOHMAN
AT-LARGE DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Brian BruessBRIAN BRUESS
AT-LARGE DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Brad BergstromBRAD BERGSTROM
AT-LARGE DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Buddy KingBUDDY KING
AT-LARGE DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Steve WindfeldtSTEVE WINDFELDT
AT-LARGE DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Netia BaumanNETIA BAUMAN
PRESIDENT
- Total calculated
- $182,230
- From this org
- $178,000
- From related orgs
- $0
- Other
- $4,230
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $178,000
- Bonus
- $0
- Other
- $0
- Deferred
- $4,230
- Nontaxable benefits
- $0
- Filer's total
- $182,230
-
Ayan OmarAYAN OMAR
AT-LARGE DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Clare RichardsCLARE RICHARDS
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
- 2024
- Filed
- 28 August 2025
- IRS schema version
- 2024v5.2
- Source object
- 202523189349307842
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