2024-10-07T12:55:10-05:00 2023-12-31 411334380 MILLER WELLE HEISER & CO LTD 4170 THIELMAN LANE PO BOX 159 ST CLOUD MN 563020159 990 2023-01-01 452050341 GREATER ST CLOUD DEVELOPMENT CORPORATION GREA 3202590300 501 W ST GERMAIN ST 100 ST CLOUD MN 56301 MIKE BLAIR TREASURER 3202590300 2024-09-16 1 1 JEFFREY J GANNON CPA P01246208 3202539505 2024-09-13 2023 2024-10-15 13:58:12Z MIKE BLAIR 501 W ST GERMAIN STREET NO 100 ST CLOUD MN 56301 1112396 0 X WWW.GREATERSTCLOUD.COM X 2011 MN TO LEAD INCLUSIVE & EQUITABLE ECONOMIC DEVELOPMENT FOR THE BENEFIT OF THE GREATER ST CLOUD COMMUNITY 22 22 7 175 0 0 1201904 1030185 79688 49000 3033 6118 129001 27093 1413626 1112396 0 0 0 0 432132 438219 0 0 21965 698020 562015 1130152 1000234 283474 112162 1353759 1290931 551922 376932 801837 913999 X SEE PAGE 1, PART 1 0 0 400094 38047 COMMUNITY DEVELOPMENT - IN ORDER TO ATTRACT, RETAIN AND EXPAND BUSINESSES WITHIN THE REGION, THE GSDC IS FOCUSED ON BUILDING AND DEVELOPING THE COMMUNITY THROUGH MULTIPLE STRATEGIC INITIATIVES THAT SUPPORT BUSINESS DEVELOPMENT 1) IMPROVE ACCESS TO THE REGION BY EXPANDING THE REGIONAL TRANSPORTATION INFRASTRUCTURE: GSDC SUCCESSFULLY LED EFFORTS RESULTING IN THE CREATION OF A REGIONAL AIRPORT AUTHORITY TO MORE EFFECTIVELY OPERATE AND GROW AIR SERVICE AT THE ST. CLOUD REGIONAL AIRPORT. GDSC ALSO COLLABORATES WITH THE I94 WEST COALITION TO PROMOTE CONTINUED EXPANSION OF I94 FROM THE TWIN CITIES TO THE ST CLOUD REGION. 2) GSDC AGGRESSIVELY MARKETS AND PROMOTES THE REGION FOR TALENT AND BUSINESS ATTRACTION, RETENTION AND EXPANSION VIA A COMPREHENSIVE WEBSITE (WWW.STCLOUDSHINES.COM), THROUGH AN EXPANSIVE SOCIAL MEDIA CAMPAIGN THAT HAS GARNERED MORE THAN 170 MILLION IMPRESSIONS VIA FACEBOOK AND INSTAGRAM SINCE ITS LAUNCH IN 2019 AND BY SHOWCASING MORE THAN 20,000 JOBS AVAILABLE WITH MORE THAN 1,300 EMPLOYERS IN THE REGION. 3) GSDC CONTINUES TO HOST AND SUPPORT THE HARVARD BASED YOUNG AMERICAN LEADERS COHORT INITIATIVE, INDUCTING 8 NEW LEADERS INTO THE PROGRAM IN 2023. 4) GSDC HOSTED EXECUTIVE ROUNDTABLE SESSIONS ON CRITICAL TOPICS OF INTEREST TO OUR EMPLOYERS (E.G. TALENT RECRUITMENT & RETENTION, MENTAL HEALTH IN THE WORKPLACE, SUPPLY CHAIN & CHILDCARE CHALLENGES). 5) GSDC COLLABORATES AND ACTIVELY ENGAGED WITH THE NEWLY FORMED DOWNTOWN ALLIANCE TO PROMOTE REVITALIZATION EFFORTS FOR THE DOWNTOWN ST. CLOUD REGION AND SERVES ON THE MAYOR'S DOWNTOWN TASK FORCE. GSDC STAFF WERE CHARGED WITH CHAIRING A BUSINESS IMPROVEMENT DISTRICT SUBCOMMITTEE IN 2023. 6) GSDC SOLICITED AND RECOGNIZED FOUR COMPANIES/ORGANIZATIONS WITH INNOVATION AWARDS AND ONE COMPANY WITH EMPLOYER OF CHOICE AWARDS. 7) GSDC PROVIDES ADMINISTRATIVE AND FISCAL HOSTING SERVICES TO SUPPORT THE EPIC PROGRAM (EXPLORING POTENTIAL INTERESTS AND CAREERS), TEDX, AND OTHER EMERGING INITIATIVES AND NON-PROFITS. 8) GSDC CONTINUES TO LEAD AND CONVENE COMMUNITY LEADERS IN EFFORTS TO ADDRESS DIVERSITY, EQUITY, AND INCLUSION NEEDS IN THE REGION THAT WILL LEAD TO EVENTUAL ELIMINATION OF THE RACIAL DISPARITIES GAP. 360085 34242 BUSINESS RETENTION AND EXPANSION - THE GSDC CONTINUES TO TAKE A LEADERSHIP ROLE IN PARTNERING WITH LOCAL CITIES, COUNTIES AND CHAMBERS OF COMMERCE TO DEPLOY STANDARDIZED, REGIONAL PROCESSES FOR BUSINESS RETENTION AND EXPANSION. THE GSDC HAS DEVELOPED THESE STREAMLINED PROCESSES BASED ON BEST PRACTICES, STANDARD TOOLS AND TECHNOLOGY. IN 2023, THE GSDC CONDUCTED 41 VISITS AND 140 INTERVIEWS WITH REGIONAL PRIMARY SECTOR BUSINESSES. 40009 3804 BUSINESS ATTRACTION & STARTUP - BUSINESS ATTRACTION & STARTUP - GSDC TAKES A LEADERSHIP POSITION IN PARTNERING WITH LOCAL CITIES, COUNTIES AND THE STATE OF MN TO DEPLOY COLLABORATIVE REGIONAL PROCESSES AND RESPONSES TO BUSINESS ATTRACTION. GSDC IS AN ENGAGED MEMBER IN THE MN MARKETING PARTNERSHIP WHICH IS LED BY DEED TO ATTRACT BUSINESS TO MINNESOTA. GSDC ASSISTED 200+ ENTREPRENEURS AND STARTUPS THROUGH ITS CONTINUED DESIGNATION AS A "LAUNCH MINNESOTA" HUB. IN ADDITION TO SECURING AN ADDITIONAL LAUNCH MN GRANT, THE GSDC APPLIED FOR AND WAS AWARDED A SMALL BUSINESS ASSISTANCE PARTNERSHIP GRANT FOR THE 24-25 BIENNIUM TO EXPAND STARTUP AND SMALL BUSINESS PROGRAMING. GSDC ALSO RESPONDED TO 6 BUSINESS ATTRACTION INQUIRIES IN 2023 AND OVER 170 SINCE 2014. 800188 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 24 0 1 7 1 0 0 0 0 0 0 0 0 0 0 0 0 X 22 22 1 0 0 0 1 1 1 1 1 0 0 1 0 0 0 0 0 0 MN X THE ORGANIZATION 3202590300 501 W ST GERMAIN STREET NO 100 ST CLOUD MN 56301 MIKE BLAIR TREASURER 3.00 X X 0 0 0 HEATHER PIEPER OLSON AT-LARGE DIRECTOR 2.00 X 0 0 0 PAUL PFEIFFER AT-LARGE DIRECTOR 2.00 X 0 0 0 MICHAEL FABER AT-LARGE DIRECTOR 2.00 X 0 0 0 DR KENNETH HOLMEN AT-LARGE DIRECTOR 2.00 X 0 0 0 JOHN TORGERSON AT-LARGE DIRECTOR 2.00 X 0 0 0 PATTI GARTLAND PAST PRESIDENT 50.00 X X 74643 0 2214 RON BRANDENBURG SECRETARY 3.00 X X 0 0 0 JEFF GAU AT-LARGE DIRECTOR 2.00 X 0 0 0 MIKE MARKMAN AT-LARGE DIRECTOR 2.00 X 0 0 0 JOAN SCHATZ CHAIR 10.00 X X 0 0 0 DR ROBBYN WACKER AT-LARGE DIRECTOR 2.00 X 0 0 0 PAT EDEBURN AT-LARGE DIRECTOR 2.00 X 0 0 0 STEFANIE BROWN VICE CHAIR 3.00 X X 0 0 0 LORI KLOOS AT-LARGE DIRECTOR 2.00 X 0 0 0 MIKE GOHMAN AT-LARGE DIRECTOR 2.00 X 0 0 0 BRIAN BRUESS AT-LARGE DIRECTOR 2.00 X 0 0 0 BRAD BERGSTROM AT-LARGE DIRECTOR 2.00 X 0 0 0 BUDDY KING AT-LARGE DIRECTOR 2.00 X 0 0 0 DAVE MEYER AT-LARGE DIRECTOR 2.00 X 0 0 0 NETIA BAUMAN PRESIDENT 50.00 X X 77635 0 1125 AYAN OMAR AT-LARGE DIRECTOR 2.00 X 0 0 0 CLARE RICHARDS AT-LARGE DIRECTOR 2.00 X 0 0 0 DANNY LANE AT-LARGE DIRECTOR 2.00 X 0 0 0 152278 0 3339 0 0 0 0 0 1030185 1030185 PROGRAM FEES 900001 26000 26000 SPONSORSHIPS 900099 23000 23000 49000 6118 6118 RENT CREDITS 900099 27093 27093 27093 1112396 76093 0 6118 X 152278 121822 22842 7614 242678 194143 36401 12134 10067 8054 1509 504 33196 26557 4980 1659 16326 13061 3265 62993 50394 12599 102799 82239 20560 151545 121236 30309 1260 1008 252 98381 78705 19676 5330 4264 1066 54837 43870 10967 16270 13016 3254 1088 871 163 54 EQUIPMENT RENTAL 43089 34471 8618 DUES AND SUBSCRIPTIONS 8097 6477 1620 1000234 800188 178081 21965 350506 350773 618558 624631 15381 32276 60108 29919 26748 222834 149451 89653 73383 217466 155288 1353759 1290931 70920 41303 176735 72373 304267 263256 551922 376932 X 786456 913999 15381 0 801837 913999 1353759 1290931 112162 0 X 0 1 X 1 0 X 856141 1104360 871475 1195904 1030185 5058065 856141 1104360 871475 1195904 1030185 5058065 296043 4762022 6974 3975 2643 3033 6118 22743 16327 26226 31867 129001 27093 230514 5311322 0.89660 0.90890 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 179051 105668 73383 43783 43783 0 73383 RIGHT OF USE ASSET 598540 ACCUMULATED AMORTIZATION - ROU ASSET -443252 155288 AGENCY PAYABLE 107968 LEASE LIABILITY 155288 263256 X 1123396 11000 11000 1112396 0 1112396 1011234 11000 11000 1000234 0 1000234 PART X, LINE 2: THE ORGNAZATION IS SUBJECT TO THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS GUIDANCE, THE ORGANIZATION MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE-LIKELY-THAN-NOT THAT THE TAX POSITION WILL BE SUSTAINED ON THE EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH A POSITIONARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS THE GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ALSO ADDRESSES DE-RECOGNITION, CLASSISFICATION, INTEREST AND PENALTIES ON INCOME TAXES, AND ACCOUNTING IN INTERIM PERIODS. MANAGEMENT EVALUATED THE TAX POSITIONS FOR THE ORGANIZATION AND CONCLUDED THAT THE ORGANIZATION HAD TAKEN NO UNCERTAIN INCOME TAX POSITIONS THAT REQUIRE ADJUSTMENTS TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. PART XI, LINE 2D - OTHER ADJUSTMENTS: BAD DEBTS PART XII, LINE 2D - OTHER ADJUSTMENTS: BAD DEBTS PART V, LINE 4 FUNDS ARE DONATED TO A SPECIFIC PROGRAM BY EACH DONOR, THE ORGANIZATION USES THE FUNDS AS INTENED FOR PROGRAM EXPENSES. FORM 990, PART VI, SECTION A, LINE 2 IN FOUNDING THE CORPORATION, SIXTY-FOUR ORGANIZATIONS WITHIN THE COMMUNITY MADE A DECISION TO INVEST TIME, MONEY, AND TALENT TO HELP MAKE GREATER ST CLOUD A GROWING AND VIBRANT COMMUNITY WHERE TALENTED PEOPLE CHOOSE TO LIVE, WORK, AND ENGAGE. THE INVESTOR MEMBER COUNT HAS SINCE GROWN TO 164. THE BOARD OF DIRECTORS GOVERNING THE MEMBER INVESTOR ORGANIZATION TOTALS 22. SOME OF THESE DIRECTORS SERVE AS DIRECTORS TOGETHER FOR OTHER COMMUNITY-FOCUSED NON-PROFITS, SUCH AS THE UNITED WAY, THE YMCA, THE BOY SCOUTS, AND MANY OTHER NON-PROFIT ORGANIZATIONS. ADDITIONALLY, MANY OF THESE DIRECTORS DO HAVE BUSINESS RELATIONSHIPS OUTSIDE THE GREATER ST CLOUD DEVELOPMENT. THEY HAVE AND DO INVEST IN BUSINESSES TOGETHER, SERVE ON BOARDS OF FOR-PROFIT COMPANIES TOGETHER, OR MAINTAIN OTHER BUSINESS RELATIONSHIPS THAT SPAN AREAS, SUCH AS LEGAL, ACCOUNTING, BANKING, UTILITIES, AND BUILDING AND CONSTRUCTION. THE RELATIONSHIPS ARE OF AN ORDINARY BUSINESS AND PROFESSIONAL NATURE. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THE ORGANIZATION ARE THE BOARD OF ADVISORS. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS ELECTS MEMBERS TO THE BOARD AS SPECIFIED IN THE BYLAWS OF THE CORPORATION. FORM 990, PART VI, SECTION A, LINE 7B ANY CHANGE IN THE BYLAWS ARE SUBJECT TO APPROVAL BY THE MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED AND APPROVED BY THE TREASURER AND OTHER BOARD MEMBERS BEOFRE IT IS FILED WITH THE IRS. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G CONSULTING MARKETING FEES: PROGRAM SERVICE EXPENSES 82,239. MANAGEMENT AND GENERAL EXPENSES 20,560. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 102,799.