Enterprise 605
- Assets
- $7.5m
- Revenue
- $4.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Sioux Falls, SD
- Founding
- 10/2016
- Data as of
- 12/2020
- EIN
- 81-2776110
Organization Overview
Enterprise 605 is located in Sioux Falls, SD. The organization was established in 2016. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Enterprise 605 is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2020, Enterprise 605 generated $4.6k in total revenue. All expenses for the organization totaled $16.3k during the year ending 12/2020.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTING THE INTERESTS AND ECONOMIC DEVELOPMENT OF THE STATE OF SOUTH DAKOTA BY FOSTERING ENTREPRENEURSHIP OPPORTUNITIES AND EXPANSION OF BUSINESSES AND SUPPORTING GROWTH AND DEVELOPMENT OF BUSINESS CONCERNS IN SOUTH DAKOTA THROUGH EDUCATION, INFORMING PUBLIC OPINION GERMANE TO ECONOMIC DEVELOPMENT IN SOUTH DAKOTA, AN INTERNSHIP PROGRAM FOCUSED ON ECONOMIC DEVELOPMENT, AND PROVIDING FINANCIAL SUPPORT TO SOUTH DAKOTA BUSINESSES OR BUSINESSES WHO PLAN TO DO BUSINESS IN SOUTH DAKOTA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
2020 WAS THE FOURTH YEAR OF OPERATIONS FOR THE ORGANIZATION. THE ORGANIZATION WAS UNABLE TO CONTINUE THE INTERNSHIP PROGRAM IN 2020 DUE TO COVID, BUT IT WILL CONTINUE PER A CONTRACT WITH THE UNIVERSITY OF SOUTH DAKOTA IN 2021. THE ORGANIZATION ALSO CONTINUED ITS INVESTMENT IN VENTURE CAPITAL FUND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Link President | OfficerTrustee | 5 | $0 |
Robert Fouberg Treasurer | OfficerTrustee | 1 | $0 |
David Chicoine Board Member | Trustee | 1 | $0 |
Venkey Venkatachalam Board Member | Trustee | 1 | $0 |
Dana Dykhouse Board Member | Trustee | 1 | $0 |
David Emery Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $4,026 |
| 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 | $4,626 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,620 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $60 |
| Advertising and promotion | $0 |
| Office expenses | $172 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,480 |
| All other expenses | $0 |
| Total functional expenses | $16,332 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,766,175 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $4,702,573 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,468,748 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $818,090 |
| Net assets with donor restrictions | $6,650,658 |
| 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 | $7,468,748 |
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