2025-11-13T07:18:35-06:00 2024-12-31 411360831 OLSEN THIELEN & CO LTD 2675 LONG LAKE ROAD ROSEVILLE MN 551131117 990 2024-01-01 823639718 TOWERSIDE INNOVATION DISTRICT TOWE 6122088773 3000 UNIVERSITY AVE SE 9 MINNEAPOLIS MN 55414 STEPHEN KLIMEK EXECUTIVE DIRECTOR 6122088773 2025-11-10 1 0 RYAN VETTRUS CPA P01243596 6514834521 2024 2025-03-06 01:10:19Z STEPHEN KLIMEK 3000 UNIVERSITY AVE SE 9 MINNEAPOLIS MN 55414 457064 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. 12 12 1 15 0 0 18000 386312 20100 36195 19653 34557 0 0 57753 457064 0 0 0 0 0 89373 0 0 13406 99953 275174 99953 364547 -42200 92517 1039458 852957 984287 705269 55171 147688 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 46224 36195 1. COMPLETED THE GRANARY CROSSING TECHNICAL FEASIBILITY STUDY WITH PUBLIC AND AGENCY PARTNERS.2. COLLABORATED WITH PROPERTY OWNERS TO SERVE AS THE OPERATOR OF THE ABOVE STANDARD ENHANCEMENTS ON GREEN 4TH STREET3. PARTICIPATED IN COMMUNITY EVENTS AND GATHERINGS TO FOSTER RELATIONSHIPS 4. HOSTED AN ANNUAL MEETING AND HOLIDAY GATHERING WITH GUEST SPEAKERS AND ACTIVITIES TO ENGAGE TOWERSIDE'S SUPPORTED ORGANIZATIONS AND TO SUPPORT CONNECTIONS WITHIN THE COMMUNITY. 5. COMPLETED A FRAMEWORK AND INITIAL ACTION-PLAN TO GUIDE IMPLEMENTATION OF TOWERSIDE'S RESILIENT AND SUSTAINABLE COMMUNITY WORK. 46224 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 7 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 0 1 1 0 0 MN X STEPHEN KLIMEK 6122088773 3000 UNIVERSITY AVE SE 9 MINNEAPOLIS MN 55414 SABINA SAKSENA 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 - THRU MARCH 0.50 X 0 0 0 DEL HAMPTON BOARD MEMBER - STARTING JUNE 0.50 X 0 0 0 EDWARD WEINBERG BOARD MEMBER - STARTING JUNE 0.50 X 0 0 0 STEPHEN KLIMEK EXECUTIVE DIRECTOR 40.00 X 83000 0 0 83000 0 0 0 0 0 0 0 46284 340028 386312 MAINTENANCE ASSESSMENT 900099 36195 36195 36195 34557 34557 457064 36195 0 34557 83000 29050 41500 12450 675 236 338 101 5698 1995 2848 855 209879 14943 194936 19650 19650 31157 31157 9098 9098 5390 5390 364547 46224 304917 13406 62952 47460 955428 728751 7000 46284 14078 30462 1039458 852957 9287 55297 975000 649972 984287 705269 X 39269 110436 15902 37252 55171 147688 1039458 852957 92517 0 X 1 X 0 0 0 X X 18 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 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 18 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 649972 649972 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 2024 AND 2023. 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 WILL BE REVIEWED BY THE EXECUTIVE / FINANCE COMMITTEE AND WILL MAKE A RECOMMENDATION TO THE BOARD. 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 15A THE ORGANIZATION HIRED ITS FIRST AND ONLY FULL-TIME EXECUTIVE DIRECTOR IN 2024 AND BASED COMPENSATION ON COMPARABLE NONPROFIT DATA. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE AVAILABLE FOR REVIEW UPON REQUEST.