Research Park At Sdsu
- Assets
- $37.7m
- Revenue
- $17.8m
- Investments
- $0.0
- Employees
- 3
- Location
- Brookings, SD
- Founding
- 09/2006
- Data as of
- 12/2022
- EIN
- 20-2506183
Organization Overview
Research Park At Sdsu is located in Brookings, SD. The organization was established in 2006. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 12/2022, Research Park At Sdsu employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Research Park At Sdsu is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Research Park At Sdsu generated $17.8m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 55.4% each year . All expenses for the organization totaled $863.7k during the year ending 12/2022. While expenses have increased by 3.4% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO BUILD AN ECONOMIC BASE OF NEWLY DEVELOPED TECHNOLOGIES AND BUSINESSES WITHIN SOUTH DAKOTA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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 GROWTH PARTNERSHIP CONTINUES THE CONSTRUCTION OF A 44,000 SQUARE FOOT BIO RESEARCH FACILITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jay Bender Chairman | OfficerTrustee | 0.5 | $0 |
Dr Barry Dunn Board Member | Trustee | 0.5 | $0 |
Kevin Tetzlaff Board Member | Trustee | 0.5 | $0 |
Larry Tidemann Board Member | Trustee | 0.5 | $0 |
Dr Al Kurtenbach Board Member | Trustee | 0.5 | $0 |
Ryan Krogman Board Member | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mccowan Gordon Construction Company | 12/30/22 | $16,270,654 |
Clark Enersen Partners Architect Firm | 12/30/22 | $469,200 |
Woodbury Owners Representative | 12/30/22 | $250,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $17,447,236 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $17,447,236 |
| Total Program Service Revenue | $382,952 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $17,830,188 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $151,896 |
| Compensation of current officers, directors, key employees. | $37,974 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $49,459 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $15,042 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $59,278 |
| Advertising and promotion | $28,284 |
| Office expenses | $12,716 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $105,293 |
| Travel | $5,423 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $13,167 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $226,139 |
| Insurance | $4,086 |
| All other expenses | $2,600 |
| Total functional expenses | $863,719 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $353,473 |
| Pledges and grants receivable | $1,754,765 |
| Accounts receivable, net | $35,453 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $10,415 |
| Net Land, buildings, and equipment | $25,070,936 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $56,000 |
| Intangible assets | $0 |
| Other assets | $10,419,650 |
| Total assets | $37,700,692 |
| Accounts payable and accrued expenses | $960,631 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $332,132 |
| Other liabilities | $878,764 |
| Total liabilities | $2,171,527 |
| Net assets without donor restrictions | $26,610,523 |
| Net assets with donor restrictions | $8,918,642 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $37,700,692 |