2024-05-07T14:44:17-05:00 2023-12-31 460403496 CASEY PETERSON LTD 909 ST JOSEPH ST STE 101 RAPID CITY SD 57701 990 2023-01-01 237267019 RAPID CITY ECONOMIC DEVELOPMENT FOUNDATI RAPI 6053431744 PO BOX 747 RAPID CITY SD 57709 TOM JOHNSON PRESIDENT/CEO 6053431744 2024-05-07 1 TOM JOHNSON 999009999 1 KAYLA GIESEY CPA P01874520 6053481930 2024-05-07 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z X TOM JOHNSON PO BOX 747 RAPID CITY SD 57709 0 0 X N/A X 1973 SD TO IMPROVE THE QUALITY OF LIFE AND INCREASE PERSONAL INCOME LEVELS IN THE RAPID CITY AREA BY FOSTERING A VITAL BUSINESS CLIMATE WHICH PROVIDES QUALITY NEW JOBS, ATTRACTS NEW BUSINESS, HELPS EXISTING BUSINESS, AND PROMOTES ENTREPRENEURSHIP. X 16 16 0 16 0 0 0 0 295557 0 2199401 0 26 0 2494984 0 2128147 12016589 0 0 0 0 0 0 0 1054378 0 3182525 12016589 -687541 -12016589 15961561 0 3944972 0 12016589 0 X TO IMPROVE THE QUALITY OF LIFE AND INCREASE PERSONAL INCOME LEVELS IN THE RAPID CITY AREA BY FOSTERING A VITAL BUSINESS CLIMATE WHICH PROVIDES QUALITY NEW JOBS, ATTRACTS NEW BUSINESS, HELPS EXISTING BUSINESS, AND PROMOTES ENTREPRENEURSHIP. 0 1 THE FOUNDATION HAS AN EXTREMELY ACTIVE, FOCUSED PROGRAM IN PLACE WORKING TO ATTRACT QUALITY, PRIMARY JOBS TO THE RAPID CITY AREA. PRIMARY JOBS ARE THOSE JOBS THAT BRING NEW WEALTH INTO THE COMMUNITY. THE FOUNDATION FOCUSES ITS PROGRAMS ON ATTRACTING MANUFACTURING, PROCESSING, AND SERVICE EXPORTING INDUSTRIES. THE FOUNDATION ALSO WORKS TO HELP LOCAL COMPANIES EXPAND AND RETAIN JOBS. THE FOUNDATION RECEIVES PROGRAM REVENUE FROM LEASING SPACE TO NEW AND GROWING BUSINESSES IN THE AREA.DURING 2023, THE BOARD OF DIRECTORS OF RAPID CITY ECONOMIC DEVELOPMENT FOUNDATION, THE CITY OF RAPID CITY, AND THE ECONOMIC DEVELOPMENT ADMINISTRATION APPROVED ELEVATE RAPID CITY (A RELATED ORGANIZATION) ACQUIRING THE ASSETS, LIABILITIES, AND OPERATIONS OF RAPID CITY ECONOMIC DEVELOPMENT FOUNDATION. THE ACQUISITION OCCURRED TO ALIGN OBJECTIVES AND COMBINE THE RESOURCES OF THE TWO ENTITIES TO BETTER PROMOTE AND SUPPORT THE RAPID CITY AND BLACK HILLS REGION. DURING 2023 THE ASSETS AND LIABILITIES OF RAPID CITY ECONOMIC DEVELOPMENT FOUNDATION WERE TRANSFERRED TO AND ASSUMED BY ELEVATE RAPID CITY WITH NO CASH CONSIDERATION TRANSFERRED BETWEEN ENTITIES. THE FOUNDATION WAS OFFICIALLY DISSOLVED BY THE STATE OF SOUTH DAKOTA ON DECEMBER 8, 2023. 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 1 0 0 0 0 0 0 0 0 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 16 16 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X THE ORGANIZATION 6053431744 PO BOX 747 RAPID CITY SD 57709 PAULETTE DAVIDSON CHAIR 0.50 1.00 X X 0 0 0 TOM WEAVER VICE CHAIR 0.50 1.00 X X 0 0 0 MARNE JONES TREASURER 0.50 1.00 X X 0 0 0 TODD KENNER SECRETARY 0.50 1.00 X X 0 0 0 DARREN HAAR PAST CHAIR 0.50 1.00 X 0 0 0 ALAN SOLANO BOARD MEMBER 0.50 1.00 X 0 0 0 ANDY BARTLING BOARD MEMBER 0.50 1.00 X 0 0 0 BRAD HEARST BOARD MEMBER 0.50 1.00 X 0 0 0 BRANDON LANCE BOARD MEMBER 0.50 1.00 X 0 0 0 DICK JOHNSON BOARD MEMBER 0.50 1.00 X 0 0 0 GREG LOOS BOARD MEMBER 0.50 1.00 X 0 0 0 HANI SHAFAI BOARD MEMBER 0.50 1.00 X 0 0 0 JANA MCCRODEN BOARD MEMBER 0.50 1.00 X 0 0 0 MAYOR JASON SALAMUN BOARD MEMBER 0.50 1.00 X 0 0 0 PETE LIEN BOARD MEMBER 0.50 1.00 X 0 0 0 ZANE BRINK BOARD MEMBER 0.50 1.00 X 0 0 0 TOM JOHNSON PRESIDENT/CEO 1.00 39.00 X 265574 0 37207 265574 0 37207 1 0 1 0 0 0 0 0 0 12016589 12016589 5840 0 0 0 526 0 0 0 0 0 0 0 0 15062454 0 0 0 892741 0 0 0 15961561 0 847 0 3942125 0 2000 0 3944972 0 X 12016589 0 12016589 0 15961561 0 -12016589 0 X 0 0 0 1 ELEVATE RAPID CITY PO BOX 747 RAPID CITY SD 57709 460118545 501(C)(6) 7868 12008721 BOOK TRANSFER OF ASSETS AND LIABILITIES UPON DISSOLUTION DURING 2023, THE BOARD OF DIRECTORS OF RAPID CITY ECONOMIC DEVELOPMENT FOUNDATION, THE CITY OF RAPID CITY, AND THE ECONOMIC DEVELOPMENT ADMINISTRATION APPROVED ELEVATE RAPID CITY (A RELATED ORGANIZATION) ACQUIRING THE ASSETS, LIABILITIES, AND OPERATIONS OF RAPID CITY ECONOMIC DEVELOPMENT FOUNDATION. THE ACQUISITION OCCURRED TO ALIGN OBJECTIVES AND COMBINE THE RESOURCES OF THE TWO ENTITIES TO BETTER PROMOTE AND SUPPORT THE RAPID CITY AND BLACK HILLS REGION. DURING 2023 THE ASSETS AND LIABILITIES OF RAPID CITY ECONOMIC DEVELOPMENT FOUNDATION WERE TRANSFERRED TO AND ASSUMED BY ELEVATE RAPID CITY WITH NO CASH CONSIDERATION TRANSFERRED BETWEEN ENTITIES. THE FOUNDATION WAS OFFICIALLY DISSOLVED BY THE STATE OF SOUTH DAKOTA ON DECEMBER 8, 2023. 1 PART I, LINE 2: GRANTS ARE ONLY MADE TO ELEVATE RAPID CITY, A RELATED ORGANIZATION. THE BOARD OF THE FOUNDATION IS COMPOSED OF THE EXECUTIVE COMMITTEE OF ELEVATE RAPID CITY, WHO MONITORS THE USE OF FUNDS BY ELEVATE RAPID CITY. DURING 2023, THE BOARD OF DIRECTORS OF RAPID CITY ECONOMIC DEVELOPMENT FOUNDATION, THE CITY OF RAPID CITY, AND THE ECONOMIC DEVELOPMENT ADMINISTRATION APPROVED ELEVATE RAPID CITY (A RELATED ORGANIZATION) ACQUIRING THE ASSETS, LIABILITIES, AND OPERATIONS OF RAPID CITY ECONOMIC DEVELOPMENT FOUNDATION. THE ACQUISITION OCCURRED TO ALIGN OBJECTIVES AND COMBINE THE RESOURCES OF THE TWO ENTITIES TO BETTER PROMOTE AND SUPPORT THE RAPID CITY AND BLACK HILLS REGION. DURING 2023 THE ASSETS AND LIABILITIES OF RAPID CITY ECONOMIC DEVELOPMENT FOUNDATION WERE TRANSFERRED TO AND ASSUMED BY ELEVATE RAPID CITY WITH NO CASH CONSIDERATION TRANSFERRED BETWEEN ENTITIES. THE FOUNDATION WAS OFFICIALLY DISSOLVED BY THE STATE OF SOUTH DAKOTA ON DECEMBER 8, 2023. 0 0 0 TOM JOHNSON PRESIDENT/CEO 265574 0 0 0 0 0 18970 0 18237 0 302781 0 0 0 PART I, LINE 3 THE PRESIDENT/CEO IS EMPLOYED BY ELEVATE RAPID CITY, A RELATED ORGANIZAITON (SEE SCHEDULE R). ELEVATE RAPID CITY'S PROCESS FOR DETERMINING COMPENSATION OF THE ORGANIZATION'S PRESIDENT/CEO INCLUDES REVIEW AND APPROVAL BY THE BOARD OF DIRECTORS. CASH DISTRIBUTION 2023-01-30 7868 CASH DISTRIBUTED 460118545 ELEVATE RAPID CITY PO BOX 747 RAPID CITY SD 57709 501(C)(6) PROPERTY AND EQUIPMENT, LESS RELATED DEBT ASSUMED BY ELEVATE RAPID CITY 2023-01-25 11120329 AMOUNT PAID BY RCEDF FOR TRANSFERRED PP&E IN 2021 & 2022, LESS DEBT PRINCIPAL BALANCE AT TRANSFER 460118545 ELEVATE RAPID CITY PO BOX 747 RAPID CITY SD 57709 501(C)(6) EQUITY INVESTMENT 2023-01-25 100000 COST BASIS OF RCEDF'S INVESTMENT INTEREST 460118545 ELEVATE RAPID CITY PO BOX 747 RAPID CITY SD 57709 501(C)(6) DEVELOPMENT REAL ESTATE 2023-01-25 957013 APPRAISED LAND VALUE 460118545 ELEVATE RAPID CITY PO BOX 747 RAPID CITY SD 57709 501(C)(6) DEVELOPMENT REAL ESTATE 2023-09-18 1071272 APPRAISED LAND VALUE 460118545 ELEVATE RAPID CITY PO BOX 747 RAPID CITY SD 57709 501(C)(6) 1 0 0 0 1 1 1 1 0 PART I, LINE 2E: PERSON(S) INVOLVED: ALL BOARD MEMBERS OF RCEDF PART I, LINE 2E: EXPLANATION OF INVOLVEMENT: THE EXECUTIVE COMMITTEE OF ELEVATE RAPID CITY SERVED AS THE BOARD OF DIRECTORS FOR RAPID CITY ECONOMIC DEVELOPMENT FOUNDATION. THESE BOARD MEMBERS CONTINUE TO SERVE ON THE EXECUTIVE COMMITTEE OF ELEVATE RAPID CITY AFTER DISSOLUTION OF RAPID CITY ECONOMIC DEVELOPMENT FOUNDATION. FORM 990, PART III, LINE 3 DURING 2023, THE BOARD OF DIRECTORS OF RAPID CITY ECONOMIC DEVELOPMENT FOUNDATION, THE CITY OF RAPID CITY, AND THE ECONOMIC DEVELOPMENT ADMINISTRATION APPROVED ELEVATE RAPID CITY (A RELATED ORGANIZATION) ACQUIRING THE ASSETS, LIABILITIES, AND OPERATIONS OF RAPID CITY ECONOMIC DEVELOPMENT FOUNDATION. THE ACQUISITION OCCURRED TO ALIGN OBJECTIVES AND COMBINE THE RESOURCES OF THE TWO ENTITIES TO BETTER PROMOTE AND SUPPORT THE RAPID CITY AND BLACK HILLS REGION. DURING 2023 THE ASSETS AND LIABILITIES OF RAPID CITY ECONOMIC DEVELOPMENT FOUNDATION WERE TRANSFERRED TO AND ASSUMED BY ELEVATE RAPID CITY WITH NO CASH CONSIDERATION TRANSFERRED BETWEEN ENTITIES. THE FOUNDATION WAS OFFICIALLY DISSOLVED BY THE STATE OF SOUTH DAKOTA ON DECEMBER 8, 2023. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY A CERTIFIED PUBLIC ACCOUNTANT WHO REVIEWS IT WITH MANAGEMENT. A COPY OF THE FORM 990 IS PROVIDED TO THE BOARD AT A REGULAR BOARD MEETING PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C DIRECTORS AND STAFF MEMBERS, AS WELL AS THEIR FAMILY MEMBERS, MUST DISCLOSE BUSINESS OR FAMILY RELATIONSHIPS WITH ANY OTHER BOARD MEMBER OR MANAGEMENT. THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. THE FIRST MEETING FOLLOWING THE ANNUAL BOARD MEETING, THE BOARD IS PRESENTED COPIES OF EACH OF THE POLICIES. THOSE WITH CONFLICTS ARE NOT ALLOWED TO PARTICIPATE IN VOTES. DISCLIPINARY ACTION, UP TO AND INCLUDING TERMINATION, IS APPLICABLE TO ANY STAFF WHO VIOLATES THE POLICY. FORM 990, PART VI, SECTION B, LINE 15A THE PRESIDENT/CEO IS EMPLOYED BY ELEVATE RAPID CITY, A RELATED ORGANIZAITON (SEE SCHEDULE R). THE FOUNDATION DOES NOT HAVE ANY DIRECT EMPLOYEES. ELEVATE RAPID CITY'S PROCESS FOR DETERMINING COMPENSATION OF THE ORGANIZATION'S PRESIDENT/CEO DOES INCLUDE REVIEW AND APPROVAL BY INDEPENDENT PERSONS AND USE OF COMPARABILITY DATA. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES FINANCIAL STATEMENTS AND OTHER GOVERNING DOCUMENTS AVAILABLE UPON REQUEST. ELEVATE RAPID CITY PO BOX 747 RAPID CITY SD 57709 460118545 ECONOMIC DEVELOPMENT SD 501(C)(6) 0 ELEVATE FOUNDATION INC PO BOX 747 RAPID CITY SD 57709 200009589 ECONOMIC DEVELOPMENT SD 501(C)(3) LINE 7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 ELEVATE RAPID CITY O 302781 COMPENSATION PAID BY ERC TO CEO ELEVATE RAPID CITY R 7868 CASH PAID ELEVATE RAPID CITY R 12008721 BOOK VALUE OF NET ASSETS SCHEDULE R - ADDITIONAL INFORMATION THE EXECUTIVE COMMITTEE OF ELEVATE RAPID CITY SERVES AS THE BOARD OF DIRECTORS FOR RAPID CITY ECONOMIC DEVELOPMENT FOUNDATION. RAPID CITY ECONOMIC DEVELOPMENT FOUNDATION SHARES EMPLOYEES; PAYROLL IS PAID IN FULL BY ELEVATE RAPID CITY.