Nonprofit · EIN 82-3639718
TOWERSIDE INNOVATION DISTRICT
Tax-exempt · MINNEAPOLIS, MN 55414
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $457,064 | $364,547 | $92,517 | $852,957 | $705,269 | $147,688 |
| December 31, 2023 | 990 | $57,753 | $99,953 | -$42,200 | $1,039,458 | $984,287 | $55,171 |
| December 31, 2021 | 990 (amended) | $221,110 | $159,524 | $61,586 | $1,156,150 | $1,073,499 | $82,651 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $386,312
- of which government grants
- $46,284
- Program service revenue
- $36,195
- Investment income
- $34,557
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $83,000
- Salaries, compensation and benefits (total)
- $89,373
- Professional fundraising fees
- $0
- Accounting fees
- $19,650
- Program services (functional)
- $46,224
- Management and general (functional)
- $304,917
- Fundraising (functional)
- $13,406
Balance sheet and other
- Total assets, start of year
- $1,039,458
- Total assets, end of year
- $852,957
- Total liabilities, end of year
- $705,269
- Net assets, end of year
- $147,688
- Net assets without donor restrictions
- $110,436
- Net assets with donor restrictions
- $37,252
- Gross receipts
- $457,064
- Employees
- 1
- Volunteers
- 15
- Year formed
- 2018
- State of legal domicile
- MN
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| STEPHEN KLIMEK | EXECUTIVE DIRECTOR Officer | 40 | $83,000 |
| SABINA SAKSENA | CHAIRPERSON Trustee or director, Officer | 10 | $0 |
| RICHARD GILYARD | VICE CHAIRPERSON Trustee or director, Officer | 10 | $0 |
| OLIVIA LEYRER | SECRETARY Trustee or director, Officer | 2 | $0 |
| KARL REICHERT | TREASURER Trustee or director, Officer | 4 | $0 |
| RACHEL PLACZEK | BOARD MEMBER Trustee or director | 2 | $0 |
| PAT MASCIA | BOARD MEMBER Trustee or director | 0.5 | $0 |
| METRIC GILES | BOARD MEMBER Trustee or director | 2 | $0 |
| KEVIN REICH | BOARD MEMBER Trustee or director | 0.5 | $0 |
| KAREN NELSON | BOARD MEMBER Trustee or director | 0.5 | $0 |
| GLORIA JEFF | BOARD MEMBER Trustee or director | 2 | $0 |
| DAN KING | BOARD MEMBER - THRU MARCH Trustee or director | 0.5 | $0 |
| DEL HAMPTON | BOARD MEMBER - STARTING JUNE Trustee or director | 0.5 | $0 |
| EDWARD WEINBERG | BOARD MEMBER - STARTING JUNE Trustee or director | 0.5 | $0 |
990 for the year ended December 31, 2023: 11 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| SABINA SAKSENA | PRESIDENT/CHAIRPERSON Trustee or director, Officer | 10 | $0 |
| RICHARD GILYARD | VICE CHAIRPERSON Trustee or director, Officer | 10 | $0 |
| OLIVIA LEYRER | SECRETARY Trustee or director, Officer | 2 | $0 |
| KARL REICHERT | TREASURER Trustee or director, Officer | 4 | $0 |
| RACHEL PLACZEK | BOARD MEMBER Trustee or director | 2 | $0 |
| PAT MASCIA | BOARD MEMBER Trustee or director | 0.5 | $0 |
| METRIC GILES | BOARD MEMBER Trustee or director | 2 | $0 |
| KEVIN REICH | BOARD MEMBER Trustee or director | 0.5 | $0 |
| KAREN NELSON | BOARD MEMBER Trustee or director | 0.5 | $0 |
| GLORIA JEFF | BOARD MEMBER Trustee or director | 2 | $0 |
| DAN KING | BOARD MEMBER Trustee or director | 0.5 | $0 |
990 for the year ended December 31, 2021: 20 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DIANE RUCKER | PRESIDENT Trustee or director, Officer | 10 | $0 |
| BOB STRAUGHN | SECRETARY Trustee or director, Officer | 4 | $0 |
| VINCE NETZ | TREASURER Trustee or director, Officer | 4 | $0 |
| ALAN ARTHUR | BOARD MEMBER (THRU MID 2021) Trustee or director | 1 | $0 |
| NINA AXELSON | BOARD MEMBER Trustee or director | 1 | $0 |
| MIKE BERTHELSEN | BOARD MEMBER Trustee or director | 1 | $0 |
| GINA CIGANIK | BOARD MEMBER Trustee or director | 1 | $0 |
| CATHERINE REID DAY | BOARD MEMBER (THRU NOV 2021) Trustee or director | 1 | $0 |
| METRIC GILES | BOARD MEMBER Trustee or director | 1 | $0 |
| RICHARD GILYARD | BOARD MEMBER Trustee or director | 1 | $0 |
| GLORIA JEFF | BOARD MEMBER (STARTING OCT 2021) Trustee or director | 1 | $0 |
| EDDIE LANDENBERGER | BOARD MEMBER Trustee or director | 1 | $0 |
| PAT MASCIA | BOARD MEMBER (STARTING OCT 2021) Trustee or director | 1 | $0 |
| SAM ROCKWELL | BOARD MEMBER Trustee or director | 1 | $0 |
| KARL REICHERT | BOARD MEMBER Trustee or director | 1 | $0 |
| KAREN NELSON | BOARD MEMBER Trustee or director | 1 | $0 |
| SABINA SAKSENA | BOARD MEMBER Trustee or director | 1 | $0 |
| VIRAJITA SINGH | BOARD MEMBER (THRU MID 2021) Trustee or director | 1 | $0 |
| ERIC WEISS | BOARD MEMBER Trustee or director | 1 | $0 |
| SARA BARROW | BOARD MEMBER (THRU MARCH 2021) Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 3000 UNIVERSITY AVE SE STE 100, MINNEAPOLIS, MN 55414-3357
- In care of
- % VINCE NETZ
- Principal officer (990 for 2024)
- STEPHEN KLIMEK, 3000 UNIVERSITY AVE SE 9, MINNEAPOLIS, MN 55414
- Signed the 990
- STEPHEN KLIMEK, EXECUTIVE DIRECTOR
- Phone
- (612) 208-8773
- Website
- TOWERSIDEMSP.ORG
- Return prepared by
- OLSEN THIELEN & CO LTD
Mission
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.
Program accomplishments
- 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.Expenses $46,224 · revenue $36,195
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 82-3639718
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization, Type I
- Donations deductible (Pub 78)
- Supporting organization, 50% limit
- Exempt since
- 2018
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S11)
- Assets (IRS master file)
- $852,957
- Income (IRS master file)
- $457,064
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $457,064 | $364,547 | $852,957 | XML |
| 990 | December 2023 | $57,753 | $99,953 | $1,039,458 | XML |
| 990 | December 2022 | $78,630 | $63,910 | $1,113,372 | IRS |
| 990 | December 2021 | $221,110 | $159,524 | $1,156,150 | XML |
| 990-EZ | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 82-3639718).
Questions about TOWERSIDE INNOVATION DISTRICT
- What is the EIN of TOWERSIDE INNOVATION DISTRICT?
- The employer identification number (EIN) of TOWERSIDE INNOVATION DISTRICT is 82-3639718.
- Is TOWERSIDE INNOVATION DISTRICT tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2018.
- Are donations to TOWERSIDE INNOVATION DISTRICT tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization, 50% limit).
- Which annual return does TOWERSIDE INNOVATION DISTRICT file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of TOWERSIDE INNOVATION DISTRICT due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did TOWERSIDE INNOVATION DISTRICT last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of TOWERSIDE INNOVATION DISTRICT?
- The 990 for the year ended December 31, 2024 names STEPHEN KLIMEK.
- Who are the officers and directors of TOWERSIDE INNOVATION DISTRICT?
- The 990 for the year ended December 31, 2024 lists 14 people; 1 received compensation from the organization, the highest $83,000 (STEPHEN KLIMEK, EXECUTIVE DIRECTOR).
- How much revenue does TOWERSIDE INNOVATION DISTRICT have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $457,064, expenses of $364,547 and total assets of $852,957 at year end.
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All nonprofits in MINNEAPOLIS · Minnesota · Community improvement and capacity building