2024-10-30T17:13:43-05:00 2023-12-31 450250958 EIDE BAILLY LLP 345 N REID PL STE 400 SIOUX FALLS SD 571037034 990 2023-01-01 202506183 RESEARCH PARK AT SDSU RESE 6056965600 2301 RESEARCH PARK WAY 146 BROOKINGS SD 57006 JAY BENDER CHAIRMAN 6056965600 2024-10-29 1 1 LAURIE HANSON CPA P00851848 6053391999 2024-10-29 2023 2024-10-15 13:58:12Z JAY BENDER 2301 RESEARCH PARK WAY 146 BROOKINGS SD 57006 3954668 0 X RPSDSTATE.COM X 2004 SD TO BUILD AN ECONOMIC BASE OF NEWLY DEVELOPED TECHNOLOGIES AND BUSINESSES WITHIN SOUTH DAKOTA. 9 9 1 9 0 0 17447236 3551366 382952 403302 0 0 0 0 17830188 3954668 0 0 0 0 216397 188964 0 0 0 647322 1130499 863719 1319463 16966469 2635205 37700692 38823631 2171527 677556 35529165 38146075 X THE SDSU GROWTH PARTNERSHIP, LTD IS DEDICATED TO SERVE THE BROOKINGS AREA, THE STATE OF SOUTH DAKOTA AND ADJACENT COMMUNITIES AND STATES. TO ACCOMPLISH THIS GOAL, A LONG-TERM DEVELOPMENT STRATEGY HAS BEEN INCORPORATED THAT WILL, OVER DECADES, BUILD UP AN ECONOMIC BASE OF NEWLY DEVELOPED TECHNOLOGIES AND BUSINESSES WHICH WILL EXPAND THROUGHOUT THE REGION AND STATE OF SOUTH DAKOTA. THE RESEARCH PARK WILL CONTINUE TO EXPAND WITH ADDITIONAL BUILDINGS AND RESEARCH PROJECTS, ENHANCING THE ECONOMIC WELL-BEING OF THE CITY OF BROOKINGS AND ITS SURROUNDING AREAS AND IMPROVE ITS QUALITY OF LIFE AND PROSPERITY. THE WHOLE INTENT OF THE PARK IS TO EXPAND AND COMMERCIALIZE UNIVERSITY AND LOCAL INNOVATION. JOB CREATION, EMPLOYEE WEALTH, AND NEW BUSINESS DEVELOPMENT ARE CORE PILLARS TO THE ORGANIZATION. 0 0 1142268 403302 THE SOLE PURPOSE IN CREATING AND DEVELOPING THE RESEARCH PARK IS TO GROW RESEARCH IN THE STATE OF SOUTH DAKOTA. IT WILL BENEFIT THE SCIENTIFIC AND EDUCATIONAL PROGRAMS OF SDSU. THIS IS ACCOMPLISHED BY SUPPORTING EFFORTS TO APPLY LEARNING AND RESEARCH TO CREATE ECONOMIC OPPORTUNITIES. THE RESEARCH PARK THROUGH THE BROOKINGS INNOVATION CENTER PROVIDES START-UP BUSINESSES WITH ACCESS TO SEASONED ENTREPRENEURS. THE RESIDENT ENTREPRENEURS INCLUDE ORGANIZATIONS SUCH AS COPYRIGHT AND TRADEMARK ATTORNEYS; A FULL TIME CPA; PROOF OF CONCEPT FUNDS - ANGEL FUNDS - VENTURE CAPITAL FUNDS; AND ACCESS TO BUSINESS PLANS, MARKETING PLANS AND FINANCIAL PROJECTIONS. THIS PAST YEAR THE BROOKINGS INNOVATION CENTER AND RESEARCH PARK STAFF CONTINUED TO ASSIST UNIVERSITY, COMMUNITY, AND REGIONAL STARTUPS. THE TEAM ALSO WORKS WITH INDUSTRY PARTNERS IN LOCATING INTO THE RESEARCH PARK. THE RESEARCH PARK BOARD COMPLETED THE CONSTRUCTION OF A 44,000 SQUARE FOOT RESEARCH BIO CENTER. IT INCLUDES MULTIPLE LABS AND A LARGE PILOT SCALE SPACE. 1142268 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 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 0 0 0 0 1 10 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 1 1 0 0 X X SDSU GROWTH PARTNERSHIP 6056965600 2301 RESEARCH PARK WAY STE 146 BROOKINGS SD 57006 JAY BENDER CHAIRMAN 0.50 X X 0 0 0 OPE NIEMEYER VICE CHAIRMAN 0.50 X X 0 0 0 DR BARRY DUNN BOARD MEMBER 0.50 X 0 0 0 KEVIN TETZLAFF BOARD MEMBER 0.50 X 0 0 0 LARRY TIDEMANN BOARD MEMBER 0.50 X 0 0 0 DR AL KURTENBACH BOARD MEMBER 0.50 X 0 0 0 RYAN KROGMAN BOARD MEMBER 0.50 X 0 0 0 JEFF PATRIDGE BOARD MEMBER (BEG JUNE 2023) 0.50 X 0 0 0 TONY VANHUIZEN BOARD MEMBER 0.50 X 0 0 0 DWAINE CHAPEL CEO/EXECUTIVE DIRECTOR/SEC-TREAS 40.00 X 170130 0 5160 170130 0 5160 1 0 1 0 MCCOWAN GORDON 850 MAIN ST KANSAS CITY MO 64105 CONSTRUCTION CONTRACTOR 2285389 MILLS CONSTRUCTION 1311 MAIN AVE BROOKINGS SD 57006 CONSTRUCTION CONTRACTOR 901376 WOODBURY 11204 DAVENPORT ST OMAHA NE 68154 OWNERS REPRESENTATIVE 125000 CLARK ENERSEN PARTNERS 1010 LINCOLN MALL LINCOLN NE 685082883 ARCHITECT FIRM 115773 INNOVATIVE LABS 5821 TOWER ST STE A ROCKFORD MN 55373 LAB EQUIPMENT CONTRACTOR 110772 5 3551366 3551366 RENTAL INCOME 531190 403302 403302 403302 3954668 403302 0 0 177568 133196 44372 11396 9115 2281 124106 56443 67663 29765 21484 8281 31679 31679 206340 197449 8891 17697 17386 311 11219 11219 506553 502692 3861 29760 29760 REPAIRS AND MAINTENANCE 134769 134769 DUES/SUBSCRIPTIONS/CONV 38573 28717 9856 38 38 1319463 1142268 177195 0 353473 191319 1754765 452972 35453 3576 10415 3608 30810318 3092276 25070936 27718042 56000 66000 10419650 10388114 37700692 38823631 960631 339204 332132 314234 878764 24118 2171527 677556 X 26610523 29101728 8918642 9044347 35529165 38146075 37700692 38823631 X 2635205 -18295 X 0 1 X 1 0 X 321888 1133077 2010593 17447236 3551366 24464160 269638 269149 268648 268130 267598 1343163 591526 1402226 2279241 17715366 3818964 25807323 25807323 25807323 1723852 1.00000 1.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 29567171 2978537 26588634 6911 960 5951 125175 111394 13781 1111061 1385 1109676 27718042 OPERATING LEASE RIGHT OF USE ASSET 1132705 LOAN FEES 5600 ACCOUNTS RECEIVABLE FROM LLC 15000 PROMISES TO GIVE - IN-KIND LAND LEASE 8900347 LAND SUBLEASE RECEIVABLE 334462 10388114 SECURITY DEPOSITS 24118 24118 X 4222266 267598 267598 3954668 0 3954668 1605356 285893 285893 1319463 0 1319463 PART X, LINE 2: THE ORGANIZATION 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 ORGANIZATION WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS AND LIABILITIES IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED. X 0 0 0 0 0 0 0 0 0 DWAINE CHAPEL CEO/EXECUTIVE DIRECTOR/SEC-TREAS 170130 0 0 0 0 0 5160 0 0 0 175290 0 0 0 FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE EXECUTIVE DIRECTOR AND BOARD PRESIDENT REVIEW THE FORM 990. A COPY OF THE 990 IS PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS AND STAFF ARE COVERED BY THE CONFLICT OF INTEREST POLICY. IF A MEMBER BELIEVES THAT THEY HAVE A POTENTIAL CONFLICT THE MEMBER SHALL DISCLOSE ALL MATERIAL FACTS REGARDING THE CONFLICT. THE BOARD OF DIRECTORS IS RESPONSIBLE FOR DETERMINING IF AN ACTUAL CONFLICT EXISTS. IF A CONFLICT DOES EXIST, THE PERSON WITH THE CONFLICT SHALL NOT PARTICIPATE IN OR BE PERMITTED TO HEAR THE BOARDS DISCUSSION OR BE ALLOWED TO VOTE. ANNUALLY EACH MEMBER AND STAFF SHALL COMPLETE A DISCLOSURE FORM. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD REVIEWS THE EXECUTIVE DIRECTOR'S PERFORMANCE AND SETS COMPENSATION. THERE ARE INDUSTRY DATA SURVEYS THAT ARE AVAILABLE FOR THE BOARDS REVIEW. 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: IN-KIND PROMISES TO GIVE -18,295.