2024-07-29T10:11:43-05:00 2023-09-30 450250958 Eide Bailly LLP 345 N Reid Pl Ste 400 Sioux Falls SD 571037034 990 2022-10-01 460243934 Sioux Falls Development Foundation Inc SIOU 6053390103 200 North Phillips Ave 301 Sioux Falls SD 57101 Cory Buck CFO 6052740478 2024-07-26 1 1 X Laurie Hanson CPA P00851848 6053391999 2024-07-26 2022 2024-08-08 14:25:15Z X Bob Mundt 200 North Phillips Ave 301 Sioux Falls SD 57101 23949132 0 X www.siouxfallsdevelopment.com X 1954 SD To collaboratively create quality economic growth and workforce development in Sioux Falls. 20 20 17 20 0 0 7876749 13219473 988763 68471 -718682 297677 1469604 3225495 9616434 16811116 0 454338 0 0 1233902 1256771 0 0 0 913790 1119973 2147692 2831082 7468742 13980034 66202631 87105498 20215423 26765255 45987208 60340243 To collaboratively create quality economic growth and workforce development in the Sioux Falls MSA to improve our quality of life. 0 0 The Sioux Falls Development Foundation seeks to promote the general welfare of the City of Sioux Falls, SD and the surrounding community by fostering business and employment. This purpose was achieved in 2022 through the sale of 66.2 acres of industrial park land to new and existing businesses along with workforce development activities that reached 22,000 potential employees and 141 prospective employers. Partners with various organizations to assist new and existing business, market our community and foster emerging industries, promote international trade services office for the State of South Dakota. The organization places a strong emphasis on workforce development. 0 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 11 0 1 17 1 0 0 0 0 0 0 0 0 X 20 20 0 0 0 0 1 1 0 1 0 0 0 1 1 1 1 1 1 1 0 1 1 X X Cory Buck 6052740478 200 North Phillips Ave Ste 301 Sioux Falls SD 57101 Kurt Loudenback Past Chair 2.00 X X 0 0 0 Steve Kolbeck Chair 2.00 X X 0 0 0 Kent Cutler Secretary 2.00 X X 0 0 0 Clark Meyer Treasurer 2.00 X X 0 0 0 Ryan Boschee Chair-Elect 2.00 X X 0 0 0 Clint Ackerman Director 1.00 X 0 0 0 Dr Brett Bradfield Director 1.00 X 0 0 0 Chris Ekstrum Director From 01/01/23 1.00 X 0 0 0 Jeff Fiegen Director 1.00 X 0 0 0 Kira Kimball Director 1.00 X 0 0 0 Randy Knecht Director 1.00 X 0 0 0 Julie Lautt Director 1.00 X 0 0 0 David Link Director 1.00 X 0 0 0 Clark Meyer Director 1.00 X 0 0 0 Tony Nour Director 1.00 X 0 0 0 Karla Santi Director 1.00 X 0 0 0 Keith Severson Director 1.00 X 0 0 0 Al Spencer Director 1.00 X 0 0 0 Steve Watson Director 1.00 X 0 0 0 Raquel Blount Director From 01/01/23 1.00 X 0 0 0 Tim McCarthy Director Until 12/31/22 1.00 X 0 0 0 Bob Mundt President & CEO 60.00 X 228684 0 54648 Cory Buck Vice President - Finance 45.00 X 108317 0 37710 Dean Dziedzic Vice President - Economic 50.00 X 177718 0 28628 Denise Guzzetta Vice President - Workforce 45.00 X 126494 0 17859 641213 0 138845 4 0 1 0 John Riley Construction Inc PO BOX 535 Morris MN 56267 Construction 5496216 Runge Enterprises Inc 4801 N Velocity Ave Sioux Falls SD 57104 Construction 4765060 Sayre Associates 216 S Duluth Ave Sioux Falls SD 57104 Engineering 552061 Davenport Evans Hurwitz & Smith PO Box 1030 Sioux Falls SD 57101 Legal 212835 Metro Construction Inc 27308 Ponderosa Dr TEA SD 57064 Construction 162470 5 139165 12652058 428250 13219473 Workforce Development 900099 44089 44089 Management Fee 561000 24382 24382 68471 297677 297677 21665 15270 6395 6395 6395 10340895 7122746 3218149 3218149 Miscellaneous Revenue 900099 951 951 951 16811116 3293966 0 297677 454338 644234 477795 37187 19572 77983 54519 33816 109349 3333 12740 58034 78551 5069 22834 5567 39766 22774 Program Expenses 439414 Real Estate Taxes 192008 BNSF Railroad Fee 28475 Miscellaneous Expenses 11689 2035 2831082 10964619 9885353 10421086 15944464 8057 4198458 41469700 47963141 198919 21822 224073 165717 88416 58356 5211088 2442870 3009442 608964 813374 66202631 87105498 3887462 1600974 3125419 3044169 11321729 19012709 1880813 3107403 20215423 26765255 X 43114157 56840176 2873051 3500067 45987208 60340243 66202631 87105498 X 13980034 -43570 416571 X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 43751 16026 27725 180322 149691 30631 58356 Future Construction Costs-Park 2874793 Deferred Compensation 40000 Operating lease liability 192610 3107403 X 17199887 -43570 582341 538771 16661116 150000 150000 16811116 2846352 15270 15270 2831082 0 2831082 Part X, Line 2: The Foundation 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 Foundation will recognize future accrued interest and penalties related to unrecognized tax benefits in income tax expense if incurred. Part XI, Line 2d - Other Adjustments: Revenue from FADC 500. Change in SDBTC Investment 566,571. Rental Expense 15,270. Part XI, Line 4b - Other Adjustments: Restricted contribution 150,000. Part XII, Line 2d - Other Adjustments: Rental Expense 15,270. 1 SF Indy Group LLC 300 23rd Ave E Suite 300 West Farg ND 58078 871759500 Other 453838 0 Infrastructure Improvement 1 Part I, Line 2: Our grant disbursements are typically reimbursements or pass-through awards. Once the originating organization has approved the disbursement, we receive the funds and pass along to the beneficiary. Accordingly, we ask for substantiation of the claimed expenses and proof of payment or lien waiver. X X 0 0 0 Bob Mundt President & CEO 202684 0 20000 0 6000 0 14454 0 42369 0 285507 0 0 0 Dean Dziedzic Vice President - Economic 160518 0 10000 0 7200 0 11456 0 18478 0 207652 0 0 0 Form 990, Part VI, Section A, line 1a The organization has delegated authority to our Executive Committee consisting of the President, Chair, Vice Chair, Secretary, Treasurer, and Past Chair. Executive Committee shall transact business of an emergency nature between board meetings. Form 990, Part VI, Section A, line 6 Membership investment is based on the number of employees of the investing company. The minimum cost of a membership is $250 annually for 0-20 employees and the max is $3,650 annually for 901+ employees. There are some businesses that were already members when the new membership structure was implemented and remain at their original membership levels. Form 990, Part VI, Section A, line 7a The members elect new board members at the annual meeting. Form 990, Part VI, Section A, line 8b The Executive committee does not keep written minutes of its meetings. All matters acted upon at the Executive committee are brought to the board for approval, and included in the board minutes. Form 990, Part VI, Section B, line 11b The President and the Executive Committee will review the return in detail. Upon their review, a copy of the 990 will be emailed to the board members, and it will be approved at the following board meeting. Following their approval, the 990 will be filed with the IRS. Form 990, Part VI, Section B, line 12c At each Board meeting, the board members and ex-officio members are asked to review the agenda for possible conflicts of interest. If a conflict does exist, the Board member must abstain from voting and from the discussion. Form 990, Part VI, Section B, line 15a Compensation of the President is determined by the Executive committee. Compensation for the Vice President is determined by the President. Determined of compensation for both positions includes an annual performance review and comparability data. The process is undertaken annually. 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: Change in SDBTC Investment 566,571. Restricted contribution for inventory purchase -150,000. Forward Sioux Falls Project 200 N Phillips Ave Sioux Falls SD 57104 460396647 Economic development SD Sioux Falls Development Foundation Related -1020259 5127499 0 1 0.50000 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 Forward Sioux Falls Project Q 1112938 FMV