2025-11-06T16:51:01-06:00 2024-12-31 420714325 RSM US LLP 227 WEST FIRST STREET SUITE 700 DULUTH MN 55802 990 2024-01-01 274026636 MINNEAPOLIS SAINT PAUL REGIONAL ECONOMIC DEVELOPMENT PARTNERSHIP MINN 6512871365 370 WABASHA ST NORTH 1900 SAINT PAUL MN 55102 PETER FROSCH PRESIDENT AND CEO 6512871365 2025-11-05 1 1 JULIE BOYER P01278549 2187275025 2025-11-05 2024 2025-03-06 01:10:19Z GREATER MSP PETER FROSCH 370 WABASHA ST NORTH 1900 SAINT PAUL MN 55102 10270115 0 X WWW.GREATERMSP.ORG X 2010 MN THE MISSION OF THE GREATER MSP PARTNERSHIP IS TO ACCELERATE REGIONAL COMPETITIVENESS AND INCLUSIVE ECONOMIC GROWTH THROUGH JOB CREATION, CAPITAL INVESTMENT AND EXECUTION OF STRATEGIC INITIATIVES. THE PARTNERSHIP WORKS TO STRENGTHEN OUR REGION'S GLOBAL SECTORS, PRIORITIZE TALENT, AND TELL OUR STORY. 38 37 27 1000 0 0 7955362 10181130 0 0 53575 88985 0 0 8008937 10270115 27000 64500 0 0 4295208 4898663 0 0 174697 3312929 3670339 7635137 8633502 373800 1636613 6398281 8385747 1616814 1955584 4781467 6430163 X THE MISSION OF THE GREATER MSP PARTNERSHIP IS TO ACCELERATE REGIONAL COMPETITIVENESS AND INCLUSIVE ECONOMIC GROWTH THROUGH JOB CREATION, CAPITAL INVESTMENT AND EXECUTION OF STRATEGIC INITIATIVES. THE PARTNERSHIP WORKS TO STRENGTHEN OUR REGION'S GLOBAL SECTORS, PRIORITIZE TALENT, AND TELL OUR STORY. 0 0 6684454 64500 GREATER MSP PARTNERSHIP WAS CREATED A DECADE AGO TO BE A SHARED SPACE WHERE LEADERS AND ORGANIZATIONS OF ALL TYPES COULD COME TOGETHER AND BUILD THE ECONOMY FOR THE BENEFIT OF THE RESIDENTS OF THIS REGION. WE ARE REALIZING THIS VISION AS A CROSS-SECTOR, WORKING PARTNERSHIP THAT TOUCHES EVERY CORNER OF THE 15-COUNTY MINNEAPOLIS-SAINT PAUL METRO. GREATER MSP IS A GROWING WORKING PARTNERSHIP THAT TOGETHER SHAPES AND EXECUTES A REGIONAL ECONOMIC DEVELOPMENT STRATEGY TO EXECUTE ON OUR VISION FOR THE GREATER MINNEAPOLIS-SAINT PAUL REGION TO LEAD THE WORLD IN INCLUSIVE ECONOMIC GROWTH BY WELCOMING ALL, EMPOWERING TALENT, AND IGNITING INNOVATION.THE GREATER MSP PARTNERSHIP HAS DEMONSTRATED THE CAPABILITY OF GENERATING SIGNIFICANT ECONOMIC OPPORTUNITY FOR PEOPLE IN THE REGION. FROM ITS INCEPTION IN 2012, GREATER MSP HAS HELPED ITS PARTNERS GENERATE OVER $7.7 BILLION IN CAPITAL INVESTMENT AND 35,000 NEW AND RETAINED DIRECT JOBS. GREATER MSP HAS BEEN BUILDING ON ITS ORIGINAL SCOPE TO ENSURE THAT EVERY MEMBER OF OUR COMMUNITY CAN ACCESS GOOD JOBS AND ECONOMIC OPPORTUNITY. THIS EMPHASIS ON INCLUSIVE GROWTH HAS POWERED AN EXPANSION IN GREATER MSP'S SCOPE, CAPACITY, AND BREADTH OF PARTICIPANTS.GREATER MSP IS A LARGE AND GROWING WORKING PARTNERSHIP OF COMMUNITY AND BUSINESS LEADERS AND ORGANIZATIONS THAT TOUCHES EVERY CORNER OF THE 15-COUNTY MINNEAPOLIS-SAINT PAUL METRO. MORE THAN 4,500 PEOPLE FROM OVER 350 LEADING COMPANIES, CITIES, COUNTIES, UNIVERSITIES, FOUNDATIONS, AND OTHER ORGANIZATIONS WORK TOGETHER IN DOZENS OF DIFFERENT TEAMS EACH YEAR TO CREATE SOLUTIONS THAT ACCELERATE GLOBAL COMPETITIVENESS AND INCLUSIVE ECONOMIC GROWTH ACROSS THE MSP REGION AND STATE OF MINNESOTA. OUR VISION FOR THE MINNEAPOLIS-SAINT PAUL REGION IS TO LEAD THE WORLD IN INCLUSIVE ECONOMIC GROWTH BY WELCOMING ALL, EMPOWERING TALENT AND IGNITING INNOVATION. TO REALIZE THIS VISION, WE SHAPE AND EXECUTE A SHARED REGIONAL ECONOMIC DEVELOPMENT STRATEGY FOCUSED ON: JOB GROWTH, RACIAL INCLUSION, ENTREPRENEURSHIP, TALENT, HOUSING AFFORDABILITY, REGIONAL BRAND, TRANSPORTATION MOBILITY AND THE NEW CLIMATE ECONOMY. THIS STRATEGY PROVIDES FOCUS AND DIRECTION FOR ALL THE WORK OF THE GREATER MSP PARTNERSHIP. GREATER MSP HAS BECOME A LARGE AND DIVERSE ECOSYSTEM OF ORGANIZATIONS BUILDING INNOVATIVE SOLUTIONS, SETTING AUDACIOUS LONG-TERM AMBITIONS, AND BREAKING THROUGH LONGSTANDING BOUNDARIES BY HARNESSING THE POWER OF CROSS-SECTOR COLLABORATION.THE VISION, MISSION AND VALUES FOR THE GREATER MSP REGION AND PARTNERSHIP INCLUDE:REGIONAL VISIONTHE GREATER MSP REGION LEADS THE WORLD IN INCLUSIVE ECONOMIC GROWTH BY WELCOMING ALL, EMPOWERING TALENT AND IGNITING INNOVATION.PARTNERSHIP MISSIONTHE GREATER MSP PARTNERSHIP WILL ACCELERATE REGIONAL COMPETITIVENESS AND INCLUSIVE ECONOMIC GROWTH THROUGH JOB CREATION, CAPITAL INVESTMENT AND THE EXECUTION OF STRATEGIC INITIATIVES.PARTNERSHIP VALUESACCOUNTABILITY | ALIGNMENT | INCLUSION | INNOVATION | TRANSPARENCYLEADING WORK OF THE GREATER MSP PARTNERSHIP INCLUDES:BUSINESS INVESTMENT: GREATER MSP IS THE REGION'S HUB FOR BUSINESSES LOOKING TO EXPAND OR RELOCATE IN THE GREATER MSP REGION. OUR TEAM HELPS COMPANIES FIND COMMUNITY DATA, CREATE STRATEGIC PARTNERSHIPS, NAVIGATE PROGRAMS AND GOVERNMENT INCENTIVES, DISCOVER SITES, AND MORE WITH COORDINATION ACROSS A VARIETY OF AGENCIES, AUTHORITIES, COUNTIES, AND MUNICIPALITIES.RESEARCH & INTELLIGENCE: GREATER MSP IS THE REGIONAL SOURCE OF TRUSTED, UNBIASED DATA ON THE REGIONAL ECONOMY. DATA, ANALYTICS, AND INTELLIGENCE ARE INTEGRATED AND LEVERAGED TO DELIVER HIGH-VALUE INSIGHTS THAT DRIVE THE DEVELOPMENT OF REGIONAL STRATEGY, ENABLING THE PARTNERSHIP TO LEAD GLOBALLY IN AN INCREASINGLY COMPLEX ECONOMIC LANDSCAPE. OUR RESEARCH AND INTELLIGENCE PLATFORM CREATES ECONOMIC DATA AND INSIGHTS, LIKE THE MSP REGIONAL INDICATORS DASHBOARD, THAT WE USE TO FOCUS AND PRIORITIZE. MBOLD IS A PLATFORM OF MINNESOTA'S LEADING FOOD & AGRICULTURE COMPANIES LIKE GENERAL MILLS, CARGILL, SCHWAN'S, COMPEER FINANCIAL AND MANY OTHERS WORKING WITH THE UNIVERSITY OF MINNESOTA AND KEY FOOD AND AGRICULTURAL ORGANIZATIONS TO LAUNCH INDUSTRY-LEADING SOLUTIONS FROM MINNESOTA, SUCH AS THE CREATION OF A CIRCULAR ECONOMY FOR FLEXIBLE FILMS, INITIATIVES TO ADVANCE SOIL HEALTH & PROTEIN INNOVATION, AND MUCH MORE.THE MINNESOTA SAF HUB IS A FIRST-OF-ITS-KIND EFFORT TO CREATE THE SUPPLY CHAIN THAT CAN PRODUCE SUSTAINABLE AVIATION FUEL (SAF) ON A LARGE SCALE AND DELIVER IT TO THE MINNEAPOLISSAINT PAUL INTERNATIONAL AIRPORT. TO MEET THE OVERWHELMING DEMAND FOR LOW-CARBON AVIATION, THE HUB LINKS SUPPLIERS IN PRODUCTION, TRANSPORTATION, REGENERATIVE AGRICULTURE, RENEWABLE ENERGY, REFINING AND MORE. THE GREATER MSP PARTNERSHIP BUILT AND IS LEADING THIS HUB WITH LEADERSHIP FROM DELTA, ECOLAB, XCEL ENERGY, BANK OF AMERICA, CARGILL, DELOITTE, AND MANY OTHERS, WHICH INCLUDE COMPANIES, UNIVERSITIES, NONPROFITS, AND GOVERNMENT.MINNESOTA MEDTECH 3.0 IS A HUB TO CREATE THE FUTURE OF GLOBAL MEDICAL TECHNOLOGY FROM MINNESOTA THROUGH A COLLABORATIVE STRATEGY CO-CREATED AND IMPLEMENTED BY LEADERS FROM ORGANIZATIONS LIKE MEDTRONIC, MAYO CLINIC, HEALTHPARTNERS, UNIVERSITY OF MINNESOTA, THE STATE OF MINNESOTA, AND DOZENS OF OTHERS. MEDTECH 3.0 EARNED A FEDERAL DESIGNATION AS THE U.S. TECH HUB FOR MEDICAL TECHNOLOGY WITH INITIATIVES ADVANCING FOCUSED ON HEALTHCARE DATA, GLOBAL EXPANSION, STARTUP INCUBATION, WORKFORCE DEVELOPMENT, AND MORE.ITASCA PROJECT IS A CROSS-SECTOR ALLIANCE FOCUSED ON STRENGTHENING THE MINNEAPOLISSAINT PAUL REGION'S CIVIC ECOSYSTEM AND IDENTIFYING LONG-TERM ISSUES THAT MATTER TO THE FUTURE PROSPERITY AND COMPETITIVENESS OF THE REGION. CREATED 20 YEARS AGO, THE ITASCA PROJECT BECAME PART OF THE GREATER MSP PARTNERSHIP IN 2022. SINCE ITS FORMATION, ITASCA'S WORK WITH PARTNERS IN THE BUSINESS, GOVERNMENT, PHILANTHROPIC, HIGHER EDUCATION AND NONPROFIT SECTORS HAS ADVANCED MORE AND BETTER EARLY CHILDHOOD EDUCATION, INCREASED THE AMOUNT THAT BUSINESSES SPEND WITH LOCAL AND DIVERSE SUPPLIERS, IMPROVED CAREER AND COLLEGE READINESS AMONG HIGH SCHOOL STUDENTS AND YOUNG ADULTS, SPARKED ADDITIONAL SUPPORT FOR AFFORDABLE HOUSING STRATEGIES AND FUNDING AND CATALYZED MANY OTHER CIVIC ENDEAVORS. FORGE NORTH IS THE REGION'S PLATFORM TO ACCELERATE STARTUP GROWTH. FORGE NORTH ASSEMBLES ALL THE KEY STAKEHOLDERS IN A REGIONAL STARTUP ECOSYSTEM, INCLUDING DOZENS OF VENTURE CAPITAL FIRMS, LOCAL STARTUP ACCELERATORS, UNIVERSITIES, GOVERNMENT AGENCIES, FOUNDATIONS, AND OTHER ORGANIZATIONS WORKING TO SUPPORT AND FUEL THE GROWTH OF LOCAL STARTUP FOUNDERS. FORGE NORTH ALIGNS THESE ACTORS AROUND KEY INITIATIVES THAT EXPAND THE OVERALL PIE OF NEW INVESTORS THROUGH CAMPAIGNS AND FUNDS, WHILE ALSO MAKING THE REGION'S ECOSYSTEM MORE VISIBLE TO ENTREPRENEURS THOUGH TRANSPARENT TOOLS LIKE THE MSP STARTUP GUIDE, THE REGION'S SEARCH ENGINE AND NAVIGATOR FOR STARTUP RESOURCES. FORGE NORTH SERVES AS THE REGIONAL HUB IN THE STATE OF MINNESOTA'S "LAUNCH MINNESOTA" NETWORK AND AS THIS HUB SERVES AS THE POINT OF INCUBATING BOLD NEW INITIATIVES, VENTURE CAPITAL FUNDS, AND OTHER PROGRAMS THAT GO ON TO GROW THE REGION'S DIRECT SUPPORT OF ENTREPRENEURS.MAKE IT. MSP. BRINGS MANY OF THE REGION'S LARGEST EMPLOYERS TOGETHER TO WORK WITH COMMUNITY AND EDUCATIONAL PARTNERS TO ATTRACT AND RETAIN PROFESSIONALS TO THE REGION. WE HAVE WORKED TOGETHER TO CREATE A WEALTH OF TALENT RESOURCES, WITH SPECIAL ATTENTION TO RETAINING PROFESSIONALS OF COLOR IN OUR REGION. CONNEXTMSP IS WORKING TO ENSURE THOUSANDS MORE YOUNG ADULTS OF COLOR FROM OUR REGION ARE HIRED INTO GREAT JOBS BY EMPLOYERS IN OUR REGION. CONNEXTMSP BECAME PART OF GREATER MSP IN 2020 AND PUBLICLY LAUNCHED IN 2021 WITH THE HELP OF MORE THAN 50 COALITION PARTNERS. THE MSP REGIONAL AIR SERVICES PARTNERSHIP (RASP) WAS LAUNCHED IN 2017 BY THE METROPOLITAN AIRPORTS COMMISSION (MAC) AND GREATER MSP. RASP DRAWS ON THE LEADERSHIP OF CORPORATE PARTNERS AND THE METROPOLITAN AIRPORTS COMMISSION TO EXPAND ACCESS TO DOMESTIC AND GLOBAL LOCATIONS FROM MSP INTERNATIONAL AIRPORT. SEVERAL GROWING INITIATIVES ACROSS GREATER MSP ARE WORTH BILLIONS IN DIRECT ECONOMIC IMPACT, INCLUDING BUSINESS BRIDGE, A NETWORK OF THE REGION'S LEADING COMPANIES WORKING TOGETHER TO INCREASE BILLIONS OF DOLLARS IN PROCUREMENT WITH MINNESOTA-OWNED BUSINESSES WITH GOALS AROUND BIPOC-, VETERAN-, AND WOMEN-OWNED BUSINESSES. THE MINNESOTA CHIPS COALITION BRINGS TOGETHER DOZENS OF SEMICONDUCTOR MANUFACTURERS, SUPPLIERS, WORKFORCE PARTNERS, AND OTHERS TO MAKE MINNESOTA A TOP STATE FOR EXPANSION OF AMERICA'S SEMICONDUCTOR INDUSTRY. 6684454 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 51 0 1 27 1 0 0 0 0 0 0 0 0 0 0 0 0 X 38 37 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MN X SAMUEL MORANTZ 6512871365 370 WABASHA ST NORTH 1900 SAINT PAUL MN 55102 PETER FROSCH PRESIDENT & CEO 40.00 X X 501135 0 14857 TONYA ALLEN DIRECTOR 0.50 X 0 0 0 COMMISSIONER DAVE BEER DIRECTOR 0.50 X 0 0 0 MITCH BLESKE DIRECTOR 0.50 X 0 0 0 DOUG CARNIVAL OF COUNSEL 0.50 X 0 0 0 MAYOR MELVIN CARTER DIRECTOR 0.50 X 0 0 0 PRESIDENT REBECCA CUNNINGHAM DIRECTOR 0.50 X 0 0 0 DANA ERICKSON DIRECTOR 0.50 X 0 0 0 LISA ERICKSON DIRECTOR 0.50 X 0 0 0 JEFFREY ETTINGER DIRECTOR (UNTIL 2/29/2024) 0.50 X 0 0 0 COMMISSIONER IRENE FERNANDO DIRECTOR 0.50 X 0 0 0 BOB FRENZEL DIRECTOR 0.50 X 0 0 0 MAYOR JACOB FREY DIRECTOR 0.50 X 0 0 0 CHRIS GALVIN DIRECTOR 0.50 X 0 0 0 COMMISSIONER MIKE GAMACHE DIRECTOR 0.50 X 0 0 0 DARREL GERMAN DIRECTOR (UNTIL 5/23/2024) 0.50 X 0 0 0 DOMINIC IANNAZZO DIRECTOR 0.50 X 0 0 0 DAN JOHNSON DIRECTOR (UNTIL 12/31/2024) 0.50 X 0 0 0 DR ERIC JOLLY DIRECTOR 0.50 X 0 0 0 COMMISSIONER STAN KARWOSKI DIRECTOR 0.50 X 0 0 0 BARBARA KOSLOSKI DIRECTOR 0.50 X 0 0 0 AUDREY LUCAS DIRECTOR 0.50 X 0 0 0 MAYOR MIKE MAGUIRE DIRECTOR 0.50 X 0 0 0 MATT MARSH DIRECTOR 0.50 X 0 0 0 CHAIRMAN COLE MILLER DIRECTOR 0.50 X 0 0 0 JON NUDI DIRECTOR (UNTIL 3/1/2024) 0.50 X 0 0 0 LAURA OBERST DIRECTOR 0.50 X 0 0 0 COMMISSIONER RAFAEL ORTEGA DIRECTOR 0.50 X 0 0 0 RT RYBAK DIRECTOR 0.50 X 0 0 0 SAHIL SANGHVI DIRECTOR 0.50 X 0 0 0 COMMISSIONER SCOTT SCHULTE DIRECTOR (UNTIL 1/16/2024) 0.50 X 0 0 0 COMMISSIONER MIKE SLAVIK DIRECTOR (UNTIL 12/31/2024) 0.50 X 0 0 0 CHRISTINE SOVEREIGN DIRECTOR 0.50 X 0 0 0 JOHN STAUCH DIRECTOR 0.50 X 0 0 0 JOHN STERN DIRECTOR 0.50 X 0 0 0 COMMISSIONER MATT UDERMANN DIRECTOR 0.50 X 0 0 0 ROBERT VISCHER DIRECTOR 0.50 X 0 0 0 LAYSHA WARD DIRECTOR (UNTIL 4/1/2024) 0.50 X 0 0 0 TIMOTHY A WELSH DIRECTOR 0.50 X 0 0 0 BRADLEY WOOD DIRECTOR 0.50 X 0 0 0 CHRISTOPHE BECK CHAIRMAN 1.00 X X 0 0 0 DENNIS DAHLEN TREASURER 0.50 X X 0 0 0 RAVI NORMAN VICE CHAIR 0.50 X X 0 0 0 CATHERINE PENKERT VICE PRESIDENT, OPERATIONS 40.00 X 227378 0 9236 MATTHEW K LEWIS VICE PRESIDENT, PARTNERSHIP STRATEGY 40.00 X 257654 0 17147 MORRIS GOODWIN JR MANAGING DIRECTOR, FORGE NORTH 40.00 X 252260 0 31776 AMANDA TAYLOR VICE PRESIDENT, BUSINESS INVESTMENT 40.00 X 247975 0 41789 JULIA SILVIS MANAGING DIRECTOR, RESEARCH AND INTELLIGENCE 40.00 X 215537 0 10879 KRISTIN GUILD DIRECTOR, BUSINESS BRIDGE AND TALENT SOLUTIONS 40.00 X 175565 0 7669 IEESHA M COLLINS ENTERPRISE DIRECTOR, TALENT, INCLUSION, & ENGAGEME 40.00 X 198252 0 23830 JENNIFER M LINDEMER DIRECTOR, ORGANIZATIONAL DEVELOPMENT 40.00 X 183535 0 42324 JOANNE BERKENKAMP MANAGING DIRECTOR, MBOLD 40.00 X 193838 0 22849 2453129 0 222356 16 0 1 0 COLLEEN EBINGER 4135 PILLSBURY AVE S MINNEAPOLIS MN 55409 CONSULTING/CONTRACTING FEES 146469 ANDREA BACH 9576 PHEASANT XING MINNETRISTA MN 55375 CONSULTING/CONTRACTING FEES 109479 MICEVYCH CONSULTING LLC 602 N 1ST ST APT 303 MINNEAPOLIS MN 55401 CONSULTING/CONTRACTING FEES 103450 3 250648 9930482 10181130 88985 88985 10270115 0 0 88985 64500 64500 1592507 1038515 405234 148758 2756335 1945713 810622 70610 55458 15152 218869 153499 58795 6575 260342 188207 63861 8274 49095 6137 42958 78865 78865 44004 44004 132704 116887 15520 297 1973756 1973756 19341 13290 5733 318 174431 121125 52673 633 206554 141911 61242 3401 129985 100533 29452 249903 232213 17690 1010 693 300 17 258524 177617 76650 4257 31249 21469 9265 515 DUES AND SUBSCRIPTIONS 167843 153032 14032 779 MISCELLANEOUS EXPENSE 117152 99972 16307 873 SPONSORSHIPS 35923 35923 8633502 6684454 1774351 174697 1282620 2109432 2866211 2713429 1194333 1493067 688 2029 134656 165321 1981085 343742 623372 1637343 925 925 295476 264201 6398281 8385747 1083786 847065 226100 37209 306928 1071310 1616814 1955584 X 3137783 3404245 1643684 3025918 4781467 6430163 6398281 8385747 1636613 12083 0 X X 0 1 X 1 0 X 6102687 6501903 6786205 7955362 10181130 37527287 6102687 6501903 6786205 7955362 10181130 37527287 5182108 32345179 51561 243 10230 53575 88985 204594 63000 63000 37794881 0.85580 0.86800 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 44004 0 0 44004 0 PART II-B, LINE 1: THE MINNESOTA BUSINESS COALITION FOR RACIAL EQUITY (MBCRE) CONTRACTS WITH FREDRIKSON FOR GOVERNMENT RELATIONS SUPPORT. EACH YEAR, MBCRE MEMBER COMPANIES ALIGN ON A BLACK-CENTERED POLICY AGENDA THAT SUPPORTS ITS VISION TO BUILD A MORE JUST, PROSPEROUS STATE WITH AND FOR BLACK MINNESOTANS. TEAM MEMBERS FROM FREDRIKSON IDENTIFY LEGISLATORS FOR MBCRE TO CONNECT WITH AND OPPORTUNITIES TO ADVANCE POLICY PRIORITIES WITH LETTERS OF SUPPORT OR TESTIMONY IN COMMITTEES. 1359550 143931 1215619 621535 199811 421724 1637343 CAPITAL LEASE OBLIGATION 23395 OPERATING LEASE LIABILITY 1047915 1071310 X 10282198 12083 12083 10270115 0 10270115 8633502 0 8633502 0 8633502 PART X, LINE 2: THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT GREATER MSP IS A NONPROFIT MINNESOTA CORPORATION EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC) AND IS NOT A PRIVATE FOUNDATION AS DEFINED BY SECTION 509(A). GREATER MSP'S ACCOUNTING POLICY PROVIDES THAT A TAX BENEFIT FROM AN UNCERTAIN TAX POSITION MAY BE RECOGNIZED WHEN IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION, INCLUDING RESOLUTIONS OF ANY RELATED APPEALS OR LITIGATION PROCESSES, BASED ON THE TECHNICAL MERITS. GREATER MSP HAS NO UNCERTAIN TAX POSITIONS RESULTING IN AN ACCRUAL OF TAX EXPENSE OR BENEFIT. GENERALLY, GREATER MSP IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE AND LOCAL TAX AUTHORITIES FOR THE YEARS BEFORE 2021. 1 CEO LEADERSHIP ALLIANCE ORANGE COUNTY 668 N COAST HWY 319 LAGUNA BEACH CA 92651 873516668 501(C)(3) 10000 0 SPONSORSHIP OF THE 2024 NATIONAL TALENT COLLABORATIVE GREAT NORTHERN WINTER FESTIVAL 206 NORTH FIRST STREET MINNEAPOLIS MN 55401 815138735 501(C)(3) 25000 0 SPONSORSHIP OF THE GREAT NORTHERN 2024 FESTIVAL FILMNORTH 550 VANDALIA ST STE 120 SAINT PAUL MN 55114 411594894 501(C)(3) 25000 0 SUNDANCE BID PROPOSAL SUPPORT 3 0 PART I, LINE 2: GREATER MSP SPONSORS VARIOUS ORGANIZATIONS AND EVENTS EACH YEAR. GREATER MSP'S SPONSORSHIP PAYMENTS MAY BE USED BY THE RECIPIENT ORGANIZATIONS AT THEIR DISCRETION. X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 PETER FROSCH PRESIDENT & CEO 412548 0 88100 0 487 0 12845 0 2012 0 515992 0 0 0 AMANDA TAYLOR VICE PRESIDENT, BUSINESS INVESTMENT 205888 0 41600 0 487 0 10734 0 31055 0 289764 0 0 0 MORRIS GOODWIN JR MANAGING DIRECTOR, FORGE NORTH 234740 0 17520 0 0 0 0 0 31776 0 284036 0 0 0 MATTHEW K LEWIS VICE PRESIDENT, PARTNERSHIP STRATEGY 215167 0 42000 0 487 0 12630 0 4517 0 274801 0 0 0 CATHERINE PENKERT VICE PRESIDENT, OPERATIONS 201821 0 25070 0 487 0 9122 0 114 0 236614 0 0 0 JULIA SILVIS MANAGING DIRECTOR, RESEARCH AND INTE 196162 0 19375 0 0 0 10782 0 97 0 226416 0 0 0 JENNIFER M LINDEMER DIRECTOR, ORGANIZATIONAL DEVELOPMENT 167535 0 16000 0 0 0 9600 0 32724 0 225859 0 0 0 IEESHA M COLLINS ENTERPRISE DIRECTOR, TALENT, INCLUSI 184557 0 13695 0 0 0 8050 0 15780 0 222082 0 0 0 JOANNE BERKENKAMP MANAGING DIRECTOR, MBOLD 181588 0 12250 0 0 0 9220 0 13629 0 216687 0 0 0 KRISTIN GUILD DIRECTOR, BUSINESS BRIDGE AND TALENT 160075 0 15490 0 0 0 7669 0 0 0 183234 0 0 0 PART I, LINE 1A GREATER MSP PAID FOR THE ANNUAL DUES TO THE MINNEAPOLIS CLUB (A BUSINESS CLUB) FOR THE ORGANIZATION'S CEO AND VICE PRESIDENTS. THIS BUSINESS CLUB HAS BEEN IDENTIFIED BY THE BOARD AS HAVING MEMBERS YIELDING TREMENDOUS LOCAL, NATIONAL AND GLOBAL IMPACT. THE PRIMARY PURPOSE OF THIS BUSINESS CLUB MEMBERSHIP IS TO CONDUCT BOARD AND COMMITTEE MEETINGS, AND OTHER BUSINESS MEETINGS TO ADVANCE THE AGENDA OF GREATER MSP. ALL EXPENSES ARE SUBSTANTIATED AND EMPLOYEES REIMBURSE GREATER MSP FOR ALL NON-BUSINESS RELATED EXPENSES. THE CEO'S 2024 COMPENSATION INCLUDED A GROSS-UP FOR THE ANNUAL PREMIUM FOR THE CEO'S SUPPLEMENTAL LONG TERM DISABILITY AND SUPPLEMENTAL LIFE INSURANCE PER THE CEO'S EMPLOYMENT CONTRACT. THE ORGANIZATION'S VICE PRESIDENTS' 2024 COMPENSATION INCLUDED A GROSS-UP FOR THE ANNUAL PREMIUM FOR THEIR SUPPLEMENTAL LIFE INSURANCE. FORM 990, PART III, LINE 4A, PROGRAM SERVICE ACCOMPLISHMENTS CONTINUED: IN 2024, GREATER MSP EXECUTED THE REGIONAL ECONOMIC STRATEGY WITH 50 PROJECTS ACROSS THE ENTERPRISE. OVER 1000 LEADERS FROM ACROSS THE REGION ACTIVELY PARTICIPATED. THE RESULTS BELOW ARE ONLY A FEW HIGHLIGHTS AMONG DOZENS. TAKEN AS A WHOLE, THE SCALE AND BREADTH OF ACCOMPLISHMENTS SET AN ALL-TIME HIGH FOR OUR REGIONAL PARTNERSHIP AND POSITIONS US FOR MUCH BIGGER THINGS IN 2025. - TOGETHER WE WON 21 NATIONALLY-COMPETITIVE BUSINESS EXPANSION AND ATTRACTION PROJECTS; NEW R&D FACILITIES, SMART MANUFACTURING PLANTS, HYPERSCALE DATA CENTERS BRINGING $1.5 BILLION IN NEW, PRIVATE INVESTMENT INTO THIS REGION'S ECONOMY AND ADDING 2,280 NEW GOOD JOBS ACROSS THE REGION. - WE SECURED NEW DIRECT ROUTES FROM MSP INTERNATIONAL AIRPORT TO COPENHAGEN AND ROME AND BROUGHT A NEW TRANSATLANTIC CARRIER LUFTHANSA TO MINNESOTA, PROVIDING ENHANCED CONNECTIVITY NOT ONLY TO EUROPE, BUT ALSO INDIA AND AFRICA. - A TEAM OF MINNESOTA-BASED CORPORATE PROCUREMENT LEADERS CALLED BUSINESS BRIDGE SPENT $13 BILLION WITH SMALL AND MEDIUM SIZED BUSINESSES ACROSS THE STATEA 19% INCREASE OVER LAST YEARINCLUDING MORE THAN $800 MILLION OF SPENDING WITH MINORITY-OWNED FIRMS. - WE HELPED POLAR SEMICONDUCTOR ADVANCE THEIR $525 MILLION EXPANSION AND SKYWATER TECHNOLOGY'S $200 MILLION EXPANSION IN BLOOMINGTON WITH AWARDS FROM THE U.S. CHIPS OFFICE AND THE STATE OF MINNESOTA THROUGH AN EFFORT CALLED THE MINNESOTA CHIPS COALITION. - THE MINNESOTA SAF HUB SECURED A $5 BILLION INVESTMENT FOR A NEW BIO-REFINERY IN MOORHEAD THAT WILL PRODUCE 193 MILLION GALLONS OF JET FUEL MADE FROM AGRICULTURAL WASTE. BECAUSE OF WINS LIKE THIS, MINNESOTA IS NOW RECOGNIZED AS HAVING THE WORLD'S MOST ADVANCED EFFORT TO DECARBONIZE AIR TRAVELONE OF THE WORLD'S HARDEST CLIMATE PROBLEMS. - THE MINNESOTA SAF HUB ACHIEVED A MAJOR MILESTONE WITH THE FIRST FLIGHT TO LEAVE MSP AIRPORT FUELED WITH SAF - THROUGH FORGE NORTH WE TRAINED DOZENS OF NEW ANGEL INVESTORS AND CONNECTED HUNDREDS VIA ANGEL EDUCATION PROGRAMMING AND INVESTMENT EVENTS WHILE BRINGING NEW VENTURE CAPITAL FUNDS TO MINNESOTA, COLLECTIVELY CATALYZING MILLIONS IN NEW VENTURE CAPITAL INVESTMENTS - THROUGH THE ITASCA PROJECT'S "CATALYZING CIVIC LEADERSHIP" EFFORTS, WE FACILITATED CRITICAL CONVERSATIONS TO ADDRESS THE REGION'S PRESSING CHALLENGES AND OPPORTUNITIES BY BRINGING TOGETHER OVER 300 REGIONAL LEADERS TO EXPLORE INNOVATIVE APPROACHES TO ECONOMIC GROWTH, EQUITABLE TALENT DEVELOPMENT, AND CIVIC ENGAGEMENT. - CONNEXTMSP PARTNERED WITH ECMC GROUP TO LAUNCH THE CO-LAB, A RESOURCE HUB DESIGNED BY AND FOR YOUNG ADULTS OF COLOR. - WE WON THE PUBLIC LEADERSHIP AWARD FROM U OF MN HUMPHREY SCHOOL FOR CONTRIBUTION TO THE COMMON GOOD - WE CONTINUED TO ADD CAPABILITY, GROWING OUR ABILITY TO ACT BIGGER, BOLDER AND FASTER BY BUILDING STATEWIDE ECONOMIES ANCHORED IN THE GREATER MSP REGION, HOSTING 500+ COLLABORATORS AND VISITORS IN OUR NEW OFFICE, AND WORKING WITH OVER 250 LEADERS FROM 40 PRIVATE, PUBLIC, AND NONPROFIT ENTITIES ON MEDTECH 3.0 - WE WELCOMED AND CONNECTED HUNDREDS OF SUMMER INTERNS FROM ACROSS THE COUNTRY AT MINNESOTA'S TOP EMPLOYERS DURING THE DISCOVER MSP INTERN WEEK WITH EVENTS ACROSS MINNEAPOLIS, SAINT PAUL, AND BLOOMINGTON FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT PREPARES THE FORM 990 WITH THE ASSISTANCE OF ITS INDEPENDENT ACCOUNTING FIRM. THE FINANCE AND AUDIT COMMITTEE OF THE BOARD REVIEWS AND APPROVES THE FORM 990. THE FORM 990 IS DISTRIBUTED TO THE BOARD OF DIRECTORS FOR THEIR REVIEW AND COMMENTS PRIOR TO ITS SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C THE PURPOSE OF THIS CONFLICT OF INTEREST POLICY (THE "POLICY") IS TO PROTECT THE INTERESTS OF THE MINNEAPOLIS ST. PAUL REGIONAL ECONOMIC DEVELOPMENT PARTNERSHIP (THE "CORPORATION") WHEN IT IS CONTEMPLATING ENTERING INTO A TRANSACTION OR ARRANGEMENT THAT MIGHT BENEFIT THE PRIVATE INTEREST OF AN OFFICER OR DIRECTOR OF THE CORPORATION OR MIGHT RESULT IN A POSSIBLE EXCESS BENEFIT TRANSACTION. ANY DIRECTOR, PRINCIPAL OFFICER, OR MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS, WHO HAS A DIRECT OR INDIRECT FINANCIAL INTEREST IS AN INTERESTED PERSON. A PERSON HAS A FINANCIAL INTEREST IF THE PERSON HAS, DIRECTLY OR INDIRECTLY, THROUGH BUSINESS, INVESTMENT, OR FAMILY: AN OWNERSHIP OR INVESTMENT INTEREST IN ANY ENTITY WITH WHICH THE CORPORATION HAS A TRANSACTION OR ARRANGEMENT, A COMPENSATION ARRANGEMENT WITH THE CORPORATION OR WITH ANY ENTITY OR INDIVIDUAL WITH WHICH THE CORPORATION HAS A TRANSACTION OR ARRANGEMENT, OR A POTENTIAL OWNERSHIP OR INVESTMENT INTEREST IN, OR COMPENSATION ARRANGEMENT WITH, ANY ENTITY OR INDIVIDUAL WITH WHICH THE CORPORATION IS NEGOTIATING A TRANSACTION OR ARRANGEMENT. COMPENSATION INCLUDES DIRECT AND INDIRECT REMUNERATION AS WELL AS GIFTS OR FAVORS THAT ARE NOT INSUBSTANTIAL. IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS AND MEMBERS OF COMMITTEES WITH GOVERNING BOARD DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE GOVERNING BOARD OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. AN INTERESTED PERSON MAY MAKE A PRESENTATION AT THE GOVERNING BOARD OR COMMITTEE MEETING, BUT AFTER THE PRESENTATION, HE/SHE SHALL LEAVE THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, THE TRANSACTION OR ARRANGEMENT INVOLVING THE POSSIBLE CONFLICT OF INTEREST. THE CHAIRPERSON OF THE GOVERNING BOARD OR COMMITTEE SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER EXERCISING DUE DILIGENCE, THE GOVERNING BOARD OR COMMITTEE SHALL DETERMINE WHETHER THE CORPORATION CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE GOVERNING BOARD OR COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE CORPORATION'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE. IN CONFORMITY WITH THE ABOVE DETERMINATION IT SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT. IF THE GOVERNING BOARD OR COMMITTEE HAS REASONABLE CAUSE TO BELIEVE A MEMBER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE MEMBER OF THE BASIS FOR SUCH BELIEF AND AFFORD THE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE MEMBER'S RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE GOVERNING BOARD OR COMMITTEE DETERMINES THE MEMBER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE CEO IS REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD AND THE BOARD OF DIRECTORS. THE COMMITTEE USES EXTERNAL MARKET SURVEY DATA AND COMPARISON INFORMATION TO DETERMINE COMPENSATION FOR THE CEO. GREATER MSP USES EXTERNAL SURVEY DATA AND COMPENSATION INFORMATION TO DETERMINE COMPENSATION FOR ALL OTHER EMPLOYEES OF THE ORGANIZATION. THE DECISION IS FORMALIZED AND CONTEMPORANEOUSLY DOCUMENTED IN AN ANNUAL SALARY LETTER, SIGNED BY THE CHAIR OF THE GREATER MSP BOARD OF DIRECTORS. THIS PROCESS LAST TOOK PLACE JULY 15, 2024. FORM 990, PART VI, SECTION C, LINE 19 IN 2024 GREATER MSP MADE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST IN THE SAME TIME AND MANNER AS OTHER DISCLOSURES REQUIRED UNDER INTERNAL REVENUE CODE SECTION 6104. FORM 990, PART XII, LINE 2C: MINNEAPOLIS SAINT PAUL REGIONAL ECONOMIC DEVELOPMENT PARTNERSHIP'S OVERSIGHT AND SELECTION PROCESS HAS NOT CHANGED FROM THE PRIOR TAX YEAR.