2024-05-14T10:33:54-05:00 2023-12-31 411360831 OLSEN THIELEN & CO LTD 2675 LONG LAKE ROAD ROSEVILLE MN 551131117 990 2023-01-01 823639718 TOWERSIDE INNOVATION DISTRICT TOWE 6094337455 3000 UNIVERSITY AVE SE 9 MINNEAPOLIS MN 55414 SABINA SAKSENA CHAIR, BOARD OF DIRECTORS 6094337455 2024-05-13 1 SABINA SAKSENA 999009999 1 RYAN VETTRUS CPA P01243596 6514834521 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z SABINA SAKSENA 3000 UNIVERSITY AVE SE 9 MINNEAPOLIS MN 55414 57753 0 X TOWERSIDEMSP.ORG X 2018 MN TOWERSIDE WORKS TOGETHER WITH OTHER MISSION-DRIVEN, COMMUNITY-BASED, EDUCATIONAL, ENVIRONMENTAL AND GOVERNMENTAL ORGANIZATIONS IN THE CREATION AND CONTINUANCE OF A SUSTAINABLE COMMUNITY OF DISCOVERY AND INNOVATION IN THE TOWERSIDE DISTRICT OF MINNEAPOLIS AND SAINT PAUL. 11 11 0 14 0 0 65465 18000 13000 20100 165 19653 0 0 78630 57753 0 0 0 0 0 0 0 0 3000 63910 99953 63910 99953 14720 -42200 1113372 1039458 1016001 984287 97371 55171 X TOWERSIDE WORKS TOGETHER WITH OTHER MISSION-DRIVEN, COMMUNITY-BASED, EDUCATIONAL, ENVIRONMENTAL AND GOVERNMENTAL ORGANIZATIONS IN THE CREATION AND CONTINUANCE OF A SUSTAINABLE COMMUNITY OF DISCOVERY AND INNOVATION IN THE TOWERSIDE DISTRICT OF MINNEAPOLIS AND SAINT PAUL. 0 0 8845 20100 1. SECURED PROJECT FUNDING FOR THE GRANARY CROSSING STUDY2. COMPLETED THE FIRST DRAFT OF THE TOWERSIDE INNOVATION DISTRICT-WIDE PARKING STUDY TO ESTABLISH INTERIM PARKING STRATEGIES TO MANAGE TODAY'S PARKING NEEDS. THIS PLAN INTRODUCES A PREFERRED SOLUTION THAT RECOMMENDS A MOBILITY HUB TO BRING TOGETHER VARIOUS TRANSPORTATION OPTIONS, ALLOWING PEOPLE TO SEAMLESSLY ACCESS TRANSIT, RIDESHARE PROGRAMS, AND OTHER OPTIONS WITHOUT RELYING ON A PRIVATE VEHICLE.3. COMPLETED A ROBUST COMMUNITY ENGAGEMENT EFFORT TARGET AT CONNECTING WITH TOWERSIDE'S "SUPPORTED ORGANIZATIONS" TO IDENTIFY OPPORTUNITIES FOR FUTURE COLLABORATION. 4. HOSTED AN ANNUAL MEETING AND HOLIDAY GATHERING TO SUPPORT CONNECTIONS WITHIN THE TOWERSIDE COMMUNITY. 5. FINALIZED EQUITY-BASED LEARNING AND DEVELOPMENT PLANS FOR IMPLEMENTATION IN 2024. 8845 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 X 11 11 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 0 0 0 0 0 MN X SABINA SAKSENA 6094337455 3000 UNIVERSITY AVE SE 9 MINNEAPOLIS MN 55414 X SABINA SAKSENA PRESIDENT/CHAIRPERSON 10.00 X X 0 0 0 RICHARD GILYARD VICE CHAIRPERSON 10.00 X X 0 0 0 OLIVIA LEYRER SECRETARY 2.00 X X 0 0 0 KARL REICHERT TREASURER 4.00 X X 0 0 0 RACHEL PLACZEK BOARD MEMBER 2.00 X 0 0 0 PAT MASCIA BOARD MEMBER 0.50 X 0 0 0 METRIC GILES BOARD MEMBER 2.00 X 0 0 0 KEVIN REICH BOARD MEMBER 0.50 X 0 0 0 KAREN NELSON BOARD MEMBER 0.50 X 0 0 0 GLORIA JEFF BOARD MEMBER 2.00 X 0 0 0 DAN KING BOARD MEMBER 0.50 X 0 0 0 0 0 0 0 0 0 0 0 18000 18000 MAINTENANCE ASSESSMENT 900099 20100 20100 20100 19653 19653 57753 20100 0 19653 77652 8845 68807 13939 13939 3000 3000 1593 1593 2684 2684 1085 1085 99953 8845 88108 3000 86046 62952 1000000 955428 14326 7000 13000 14078 1113372 1039458 16001 9287 1000000 975000 1016001 984287 X 72429 39269 24942 15902 97371 55171 1113372 1039458 -42200 0 X 1 X 0 0 0 X X 19 AEON 411558711 7 1 0 0 CAPITOL REGION WATERSHED DISTRICT 743076861 7 1 0 0 CITY OF MINNEAPOLIS 416005375 6 1 0 0 CITY OF SAINT PAUL 416005521 6 1 0 0 CREATIVE ENTERPRISE ZONE 473199574 7 1 0 0 FAMILY HOUSING FUND 411380923 7 1 0 0 HENNEPIN COUNTY 416005801 6 1 0 0 METROPOLITAN COUNCIL 416008898 6 1 0 0 MINNEAPOLIS PARK AND RECREATION BOARD 416003575 6 1 0 0 MISSISSIPPI WATERSHED MANAGEMENT ORGANIZATION 411877862 6 1 0 0 PROSPECT PARK 2020 462407192 7 1 0 0 PROSPECT PARK ASSOCIATION 411409200 7 1 0 0 RAMSEY COUNTY 416005875 6 1 0 0 ST ANTHONY PARK COMMUNITY COUNCIL 411390942 6 1 0 0 SAINT ANTHONY PARK COMMUNITY FOUNDATION 411905410 7 1 0 0 TWIN CITIES COMMUNITY LAND BANK 270260037 7 1 0 0 UNIVERSITY ENTERPRISE LABORATORIES 412093194 7 1 0 0 UNIVERSITY OF MINNESOTA 416007513 6 1 0 0 UNIVERSITY OF MINNESOTA FOUNDATION OF REAL ESTATE ADVISORS 274131769 7 1 0 0 19 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 REFUNDABLE ADVANCE 975000 975000 X PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE THEREFORE, THE STATEMENTS DO NOT INCLUDE A PROVISION FOR INCOME TAXES BUT ARE SUBJECT TO INCOME TAX ON NET UNRELATED BUSINESS INCOME. THE ORGANIZATION HAD NO UNRELATED BUSINESS INCOME TAX IN 2023 AND 2022. THE ORGANIZATION REVIEWS INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN INCOME TAX RETURNS TO DETERMINE IF THERE ARE ANY INCOME TAX UNCERTAINTIES. THIS INCLUDES POSITIONS THAT THE ENTITY IS EXEMPT FROM INCOME TAXES OR NOT SUBJECT TO INCOME TAXES ON UNRELATED BUSINESS INCOME. THE ORGANIZATION RECOGNIZES TAX BENEFITS FROM UNCERTAIN TAX POSITIONS ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITIONS WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITIONS. THE ORGANIZATION HAS IDENTIFIED NO SIGNIFICANT INCOME TAX UNCERTAINTIES. THE ORGANIZATION FILES INFORMATION RETURNS AS A TAX-EXEMPT ORGANIZATION. SHOULD THAT STATUS BE CHALLENGED IN THE FUTURE, ALL YEARS SINCE INCEPTION COULD BE SUBJECT TO REVIEW BY THE IRS. FORM 990, PART VI, SECTION A, LINE 6 TOWERSIDE INNOVATION DISTRICT, A MINNESOTA NONPROFIT CORPORATION (THIS "CORPORATION"), WAS FORMED PURSUANT TO THE MINNESOTA NONPROFIT CORPORATION ACT, MINNESOTA STATUTES, CHAPTER 317A, BY FILING ARTICLES OF INCORPORATION WITH THE MINNESOTA SECRETARY OF STATE ON NOVEMBER 9, 2017. THIS CORPORATION WAS ORGANIZED AND SHALL BE OPERATED EXCLUSIVELY TO BENEFIT, PERFORM, AND CARRY OUT THE EXCLUSIVELY PUBLIC, CHARITABLE, EDUCATIONAL, AND OTHER EXEMPT PURPOSES OF CERTAIN NONPROFIT ORGANIZATIONS IDENTIFIED IN THE ARTICLES OF INCORPORATION (EACH, A "SUPPORTED ORGANIZATION AND COLLECTIVELY, THE "SUPPORTED ORGANIZATIONS") IN CONNECTION WITH THE CREATION AND CONTINUANCE OF A SUSTAINABLE COMMUNITY OF DISCOVERY AND INNOVATION IN AND ABOUT THOSE PORTIONS OF MINNEAPOLIS AND SAINT PAUL, MINNESOTA, SHOWN ON EXHIBIT A THERETO (THE "TOWERSIDE DISTRICT"), TO THE EXTENT SUCH PURPOSES ARE DESCRIBED IN SECTIONS 170(C)(2)(B), 501(C)(3), 2055(A)(2), AND 2522(A)(2) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, OR CORRESPONDING PROVISIONS OF ANY SUBSEQUENT FEDERAL TAX LAWS (THE "CODE"). MEMBERS. THERE SHALL BE TWO CLASSES OF MEMBERS OF THIS CORPORATION: EXEMPT MEMBERS AND CONTRIBUTING MEMBERS. THE EXEMPT MEMBERS SHALL BE THOSE SUPPORTED ORGANIZATIONS THAT REQUEST MEMBERSHIP IN THIS CORPORATION, PROVIDED THAT EACH SUPPORTED ORGANIZATION MUST RENEW ITS MEMBERSHIP EVERY THREE (3) YEARS. EXEMPT MEMBERS SHALL HAVE VOICE AND VOTING RIGHTS AT ALL MEETINGS OF THE MEMBERS. THE CONTRIBUTING MEMBERS SHALL BE THOSE ENTITIES APPROVED BY THE BOARD OF DIRECTORS THAT (A) ARE OWNERS OR LESSEES OF PROPERTY IN THE TOWERSIDE DISTRICT WHO HAVE APPLIED FOR MEMBERSHIP AND MET SUCH OTHER REQUIREMENTS AS MAY BE ESTABLISHED BY THE BOARD OF DIRECTORS, OR (B) ARE KEY CONTRIBUTING ORGANIZATIONS AS DESIGNATED FROM TIME TO TIME BY THE BOARD OF DIRECTORS. THE CONTRIBUTING MEMBERS SHALL HAVE VOICE, BUT NO VOTING RIGHTS AT MEETINGS OF THE MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A DIRECTORS SHALL BE ELECTED AT THE ANNUAL MEETING OF THE MEMBERS OF THIS CORPORATION. NOMINATIONS OF POTENTIAL DIRECTORS SHALL BE MADE TO THE BOARD OF DIRECTORS WITH DUE CONSIDERATION GIVEN TO PROVIDING FOR EQUITABLE PARTICIPATION ON THE BOARD OF DIRECTORS BY DEVELOPERS, BUSINESSES, GOVERNMENT AGENCIES, NONPROFITS, HIGHER EDUCATION INSTITUTIONS, AND COMMUNITY ORGANIZATIONS IN OR ABOUT THE TOWERSIDE DISTRICT, AND OTHER KEY INDIVIDUALS AND ORGANIZATIONS THAT SUPPORT THE VISION OF THIS CORPORATION. THE EXACT NUMBER OF DIRECTORS ON THE BOARD SHALL BE DETERMINED FROM TIME TO TIME BY RESOLUTION ADOPTED BY A MAJORITY OF THE DIRECTORS THEN HOLDING OFFICE. ALL DIRECTORS SHALL BE NATURAL PERSONS WHO ARE ADULTS. FORM 990, PART VI, SECTION A, LINE 7B THERE SHALL BE TWO CLASSES OF MEMBERS OF THIS CORPORATION: EXEMPT MEMBERS AND CONTRIBUTING MEMBERS. THE EXEMPT MEMBERS SHALL BE THOSE SUPPORTED ORGANIZATIONS THAT REQUEST MEMBERSHIP IN THIS CORPORATION, PROVIDED THAT EACH SUPPORTED ORGANIZATION MUST RENEW ITS MEMBERSHIP EVERY THREE (3) YEARS. EXEMPT MEMBERS SHALL HAVE VOICE AND VOTING RIGHTS AT ALL MEETINGS OF THE MEMBERS. THE CONTRIBUTING MEMBERS SHALL BE THOSE ENTITIES APPROVED BY THE BOARD OF DIRECTORS THAT (A) ARE OWNERS OR LESSEES OF PROPERTY IN THE TOWERSIDE DISTRICT WHO HAVE APPLIED FOR MEMBERSHIP AND MET SUCH OTHER REQUIREMENTS AS MAY BE ESTABLISHED BY THE BOARD OF DIRECTORS, OR (B) ARE KEY CONTRIBUTING ORGANIZATIONS AS DESIGNATED FROM TIME TO TIME BY THE BOARD OF DIRECTORS. THE CONTRIBUTING MEMBERS SHALL HAVE VOICE, BUT NO VOTING RIGHTS AT MEETINGS OF THE MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B THE 990 WAS REVIEWED BY THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 12C REGULAR AND CONSISTENT MONITORING OF CONFLICT OF INTEREST POLICY. COI STATEMENTS ARE COLLECTED FROM ALL BOARD MEMBERS ANNUALLY AND REVIEWED FOR CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 THERE WERE NO PAID STAFF MEMBERS IN 2023. THERE WAS A WORKING BOARD AND INDEPENDENT CONTRACTOR SUPPORT. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE AVAILABLE FOR REVIEW UPON REQUEST.