2022-09-09T11:48:29-05:00 2021-12-31 450250958 EIDE BAILLY LLP 200 E 10TH ST STE 500 SIOUX FALLS SD 571046375 990 2021-01-01 202506183 SOUTH DAKOTA STATE UNIVERSITY GROWTH PARTNERSHIP LTD SOUT 6056965600 2301 RESEARCH PARK WAY 146 BROOKINGS SD 57006 JAY BENDER CHAIRMAN 6056965600 2022-09-07 1 JAY BENDER XXX-XX-XXXX LAURIE HANSON CPA P00851848 6053391999 2022-09-07 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z JAY BENDER 2301 RESEARCH PARK WAY 146 BROOKINGS SD 57006 2332482 0 X RPSDSTATE.COM X 2004 SD TO BUILD AN ECONOMIC BASE OF NEWLY DEVELOPED TECHNOLOGIES AND BUSINESSES WITHIN SOUTH DAKOTA. 8 8 2 9 0 0 1133077 2010593 319808 321889 0 0 0 0 1452885 2332482 0 0 0 0 175685 192479 0 0 0 508724 576355 684409 768834 768476 1563648 17631732 19673846 933946 1429657 16697786 18244189 X 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. 0 0 656446 321889 THE SOLE PURPOSE IN CREATING AND DEVELOPING THE RESEARCH PARK IN THE CITY OF BROOKINGS, SOUTH DAKOTA IS TO 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; ANGEL FUNDS; AND ACCESS TO THE SMALL BUSINESS DEVELOPMENT CENTER TO DEVELOP BUSINESS PLANS, MARKETING PLANS AND FINANCIAL PROJECTIONS. THIS PAST YEAR THE BROOKINGS INNOVATION CENTER AMD RESEARCH PARK STAFF CONTINUE TO ASSIST BOTH COMMUNITY AND UNIVERSITY STARTUPS. THE TEAM ALSO WORKS WITH INDUSTRY PARTNERS IN LOCATING INTO THE RESEARCH PARK. THE GROWTH PARTNERSHIP IS CURRENTLY CONSTRUCTING A 44,000 SQUARE FOOT RESEARCH FACILITY. THE ANTICIPATED COMPLETION DATE IS FIRST QUARTER OF 2023. TO DATE, THE GROWTH PARTNERSHIP HAS ASSISTED MORE THAN 120 COMPANIES, WHO HAVE CREATED 1,132 JOBS WITH AN ANNUAL PAYROLL OF $61M, CREATING AN ANNUAL ECONOMIC IMPACT TO THE REGION OF $220M. 656446 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 5 0 1 2 1 0 0 0 0 0 0 0 0 0 0 0 0 X 8 8 1 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 1 1 0 0 X SDSU GROWTH PARTNERSHIP 6056965600 2301 RESEARCH PARK WAY STE 146 BROOKINGS SD 57006 JAY BENDER CHAIRMAN 0.50 X X 0 0 0 KEITH CORBETT VICE CHAIRMAN (UNTIL APRIL) 0.50 X X 0 0 0 JIM MORGAN BOARD MEMBER (UNTIL APRIL) 0.50 X 0 0 0 DR BARRY DUNN BOARD MEMBER 0.50 X 0 0 0 KEVIN TETZLAFF BOARD MEMBER 0.50 X 0 0 0 LARRY TIDEMANN BOARD MEMBER 0.50 X 0 0 0 DR AL KURTENBACH BOARD MEMBER 0.50 X 0 0 0 RYAN KROGMAN BOARD MEMBER 0.50 X 0 0 0 TIM REED BOARD MEMBER (UNTIL APRIL) 0.50 X 0 0 0 OPE NIEMEYER BOARD MEMBER (BEGIN APRIL) 0.50 X 0 0 0 TONY VENHUIZEN BOARD MEMBER (BEGIN APRIL) 0.50 X 0 0 0 DWAINE CHAPEL CEO/EXECUTIVE DIRECTOR 40.00 X 150870 0 0 150870 0 0 1 0 1 0 CLARK ENERSEN PARTNERS 1010 LINCOLN MALL LINCOLN NE 685082883 ARCHITECT FIRM 384200 ONWARD 2361 SOUTH 220TH OMAHA NE 68022 CONSULTANT 165000 WOODBURY 11204 DAVENPORT ST OMAHA NE 68154 OWNERS REPRESENTATIVE 125000 3 2010593 2010593 RENTAL INCOME 531190 321889 321889 321889 2332482 321889 0 0 150870 105549 45321 25221 17655 7566 3417 2563 854 12971 10273 2698 49391 26906 22485 22921 22921 14721 14721 94409 89664 4745 6969 6969 7821 7821 207825 202915 4910 15155 13155 2000 REPAIRS AND MAINTENANCE 132760 132760 DUES/SUBSCRIPTIONS/CONV 24363 17295 7068 BANK CHARGES 20 20 768834 656446 112388 0 219658 123533 697958 1052109 18561 8590 2207 22612 10669229 2359584 6506422 8309645 43000 43000 10143926 10114357 17631732 19673846 588625 1020185 180703 150000 350000 14618 59472 933946 1429657 X 7624137 9307785 9073649 8936404 16697786 18244189 17631732 19673846 X 1563648 -17245 X 0 1 X 1 0 X 313382 310183 321888 1133077 2010593 4089123 270571 270111 269638 269149 268648 1348117 583953 580294 591526 1402226 2279241 5437240 5437240 5437240 1517882 1.00000 1.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 7897273 2254959 5642314 6911 38 6873 116847 104587 12260 2648198 2648198 8309645 PREPAID LAND LEASE 1157353 LOAN FEES 5600 ACCOUNTS RECEIVABLE FROM LLC 15000 PROMISES TO GIVE - IN-KIND LAND LEASE 8936404 10114357 SECURITY DEPOSITS 20498 RETAINAGE PAYABLE 38974 59472 X 2738375 268648 268648 2469727 -137245 -137245 2332482 1054727 285893 285893 768834 0 768834 PART X, LINE 2: THE ORGANIZATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AFFECTING ITS ANNUAL FILING REQUIREMENTS, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE ORGANIZATION WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS AND LIABILITIES IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED. PART XI, LINE 4B - OTHER ADJUSTMENTS: NET ASSETS RELEASED FROM RESTRICTION -137,245. X X 0 0 0 0 0 0 0 0 0 DWAINE CHAPEL CEO/EXECUTIVE DIRECTOR 150870 0 0 0 0 0 0 0 0 0 150870 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 AL KURTENBACH AND KEVIN TETZLAFF HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE EXECUTIVE DIRECTOR AND BOARD PRESIDENT REVIEW THE FORM 990. A COPY OF THE 990 IS PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS AND STAFF ARE COVERED BY THE CONFLICT OF INTEREST POLICY. IF A MEMBER BELIEVES THAT THEY HAVE A POTENTIAL CONFLICT THE MEMBER SHALL DISCLOSE ALL MATERIAL FACTS REGARDING THE CONFLICT. THE BOARD OF DIRECTORS IS RESPONSIBLE FOR DETERMINING IF AN ACTUAL CONFLICT EXISTS. IF A CONFLICT DOES EXIST, THE PERSON WITH THE CONFLICT SHALL NOT PARTICIPATE IN OR BE PERMITTED TO HEAR THE BOARDS DISCUSSION OR BE ALLOWED TO VOTE. ANNUALLY EACH MEMBER AND STAFF SHALL COMPLETE A DISCLOSURE FORM. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD REVIEWS THE EXECUTIVE DIRECTOR'S PERFORMANCE AND SETS COMPENSATION. THERE ARE INDUSTRY DATA SURVEYS THAT ARE AVAILABLE FOR THE BOARDS REVIEW. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: IN-KIND PROMISE TO GIVE -17,245.