2025-03-29T14:12:35-05:00 2024-12-31 410746749 CLIFTONLARSONALLEN LLP 220 SOUTH SIXTH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2024-01-01 201896813 SPRING POINT PROJECT SPRI 6123334108 121 SOUTH EIGHTH STREET 822 MINNEAPOLIS MN 55402 THOMAS SPIZZO EXECUTIVE DIRECTOR 6123334108 2025-03-26 1 0 HEIDI TATRO P01591796 6123764500 2025-03-26 2024 2025-03-06 01:10:19Z THOMAS SPIZZO 121 SOUTH EIGHTH STREET 822 MINNEAPOLIS MN 55402 3653866 0 X WWW.SPRINGPOINTPROJECT.ORG X 2004 MN PROVIDE MEDICAL-GRADE PORCINE ISLETS TO REPLACE THOSE LOST IN TYPE 1 DIABETES. 7 7 18 7 0 0 6815 2905 3360225 3522919 74645 122980 265090 5062 3706775 3653866 0 0 0 0 1330675 1523468 0 0 23935 1918764 2088728 3249439 3612196 457336 41670 8268932 8301984 432132 425019 7836800 7876965 X TO BE THE PREEMINENT SOURCE OF MEDICAL-GRADE PORCINE TISSUE UTILIZED TO CURE DISEASES, WITH THE PRIMARY COMMITMENT TO DIABETES. 0 0 3310363 3522919 BRED AND RAISED DESIGNATED PATHOGEN-FREE (DPF) MEDICAL-GRADE PIGS FOR USE IN BIOMEDICAL RESEARCH TO TREAT AND POTENTIALLY CURE TYPE 1 DIABETES. PROCURED PANCREATA, ISOLATED ISLETS, AND PRODUCED MICROENCAPSULATED COMBINATION PRODUCT TO FINALIZE INVESTIGATIONAL NEW DRUG (IND) SUBMISSION AND FACILITATE CLINICAL STUDIES. THE LONG-TERM PROGRAM OBJECTIVE IS TO PRODUCE A SUFFICIENT SUPPLY OF SUITABLE DONOR PIGS TO SERVE AS ISLET DONORS FOR DIABETIC PATIENTS, ULTIMATELY LEADING TO A CURE FOR DIABETES.TO DATE, PRODUCED OVER THREE THOUSAND DPF PIGS AND ISOLATED OVER 191 MILLION PORCINE ISLETS FROM DESIGNATED PATHOGEN-FREE (DPF) ANIMALS PRODUCED AT THE ORGANIZATION'S FACILITY TO SUPPORT (1) PRECLINICAL TRANSPLANTATION AND PREPARATION STUDIES FOR PHASE I/II CLINICAL ACTIVITIES AND (2) THE VALIDATION OF THE CGMP MANUFACTURING OF A CLINICALLY SUITABLE PRODUCT IN THE ON-SITE CELLULAR MANUFACTURING FACILITY. 3310363 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 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 9 0 18 1 0 0 0 0 0 0 0 0 0 0 X 7 7 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MN WI IL CO OH FL AZ WA TN CA NY X X THOMAS SPIZZO 6123334108 121 SOUTH EIGHTH STREET NO 822 MINNEAPOLIS MN 55402 PATRICK RYAN CHAIRMAN 1.00 X X 0 0 0 TIMOTHY CLARK EXECUTIVE VICE CHAIRMAN 1.00 X X 0 0 0 STEVE MURPHY TREASURER 1.00 X X 0 0 0 MARTHA VETTER SECRETARY 1.00 X X 0 0 0 CHRIS PRUE DIRECTOR 1.00 X 0 0 0 CHRISTIAN GRETSCHEL DIRECTOR 1.00 X 0 0 0 MIKE GRETSCHEL DIRECTOR 1.00 X 0 0 0 THOMAS SPIZZO EXECUTIVE DIRECTOR 40.00 X 206380 0 31241 GERALDINE HULLUM DIRECTOR OF ADMINISTRATION 40.00 X 107507 0 19203 MEGAN LARSON DIRECTOR OF QUALITY 40.00 X 111982 0 15650 425869 0 66094 3 0 1 0 0 2905 2905 PORCINE PRODUCTS 110000 2176800 2176800 MANUFACT, FEE REIMBURS 310000 1346119 1346119 3522919 122980 122980 OTHER INCOME 110000 5062 5062 5062 3653866 3522919 0 128042 491963 352387 121986 17590 811602 811602 21952 21952 110739 110739 87212 78052 8068 1092 19956 19956 26119 26119 5340 5340 36297 19323 16974 13148 8717 4359 72 85346 57199 25570 2577 24006 7202 15604 1200 5361 5089 272 5735 5735 280 280 231581 231581 78463 69849 8614 PORCINE AND MANUFACTURI 1010037 1010037 REPAIRS & MAINTENANCE 187630 187630 UTILITIES 167145 167145 ENVIRONMENTAL MONITORIN 30554 30554 161730 135570 24756 1404 3612196 3310363 277898 23935 1074326 831868 15542 0 178527 500227 41633 50063 8414817 3657273 4989125 4757544 1706690 1899193 263089 263089 8268932 8301984 250857 243744 181275 181275 432132 425019 X 7836800 7876965 7836800 7876965 8268932 8301984 41670 -1505 0 X X 0 1 X 1 0 X 6572 200549 3021 6815 2905 219862 6572 200549 3021 6815 2905 219862 219862 9267 7583 24421 74242 122980 238493 10663 9552 818 265091 5062 291186 749541 16158278 0.29330 0.36660 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS REVENUE 81333 81333 7773987 3219664 4554323 238203 137232 100971 262291 241374 20917 59003 59003 0 4757544 X 3655361 -1505 3000 1495 3653866 0 3653866 3615196 3000 3000 3612196 0 3612196 PART X, LINE 2: THE PROJECT HAS TAX-EXEMPT STATUS UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND MINNESOTA STATUTE. IT HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION UNDER THE INTERNAL REVENUE CODE AND CHARITABLE CONTRIBUTIONS BY DONORS ARE TAX DEDUCTIBLE. THE PROJECT FOLLOWS THE INCOME TAX STANDARD REGARDING THE RECOGNITION OF UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. THIS STANDARD HAD NO IMPACT ON THE PROJECT'S FINANCIAL STATEMENTS. THE PROJECT'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. REIMBURSEMENT FOR PORCINE PRODUCT AND MANUFACTURING FEE PROGRAM SERVICES USE OF PIG ISLET CELLS FOR USE IN BIOMEDICAL RESEARCH TO TREAT AND POTENTIALLY CURE TYPE 1 DIABETES 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 1 0 X X X 0 0 0 0 0 0 0 0 0 THOMAS SPIZZO EXECUTIVE DIRECTOR 163930 0 30000 0 12450 0 19500 0 11741 0 237621 0 0 0 PART I, LINE 1A PART I, LINE 1A: DURING 2024, THE ORGANIZATION PROVIDED A MONTHLY HOUSING ALLOWANCE AND PARKING FOR THE EXECUTIVE DIRECTOR FOR A TOTAL OF $12,450. THESE ALLOWANCES WERE INCLUDED WITHIN TAXABLE INCOME. FORM 990, PART VI, SECTION A, LINE 1A THE BOARD OF DIRECTORS MAY DESIGNATE THREE OR MORE OF THEIR NUMBER TO CONSTITUTE AN EXECUTIVE, OR GOVERNANCE, COMMITTEE WHICH, TO THE EXTENT DETERMINED BY UNANIMOUS AFFIRMATIVE ACTION OF THE BOARD, SHALL HAVE AND EXERCISE THE AUTHORITY OF THE BOARD OF DIRECTORS IN THE MANAGEMENT OF THE BUSINESS OF THE ORGANIZATION, BUT SHALL NOT HAVE THE POWER TO AMEND THE ORGANIZATION'S BYLAWS. THE EXECUTIVE COMMITTEE SHALL ACT ONLY IN THE INTERVAL BETWEEN MEETINGS OF THE BOARD OF DIRECTORS AND SHALL BE SUBJECT AT ALL TIMES TO THE CONTROL AND DIRECTION OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 2 W. MICHAEL GRETSCHEL AND CHRIS GRETSCHEL HAVE A FAMILY RELATIONSHIP. BOTH ARE BOARD MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS SENT TO THE ENTIRE BOARD FOLLOWING PREPARATION AND REVIEWED AND APPROVED BY THE BOARD AT ITS MEETING CLOSEST TO THE FILING OF THE 990. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION'S CONFLICT OF INTEREST POLICY COVERS OFFICERS, DIRECTORS, AND ALL EMPLOYEES WHO MAY INFLUENCE THE ACTIONS OF SPRING POINT PROJECT. DISCLOSURE IN THE ORGANIZATION SHOULD BE MADE TO THE EXECUTIVE DIRECTOR (OR IF SHE OR HE IS THE ONE WITH THE CONFLICT, THEN TO THE BOARD CHAIR), WHO SHALL BRING THE MATTER TO THE ATTENTION OF THE BOARD OF DIRECTORS. DISCLOSURE INVOLVING DIRECTORS SHOULD BE MADE TO THE BOARD CHAIR, (OR IF SHE OR HE IS THE ONE WITH THE CONFLICT, THEN TO THE BOARD VICE-CHAIR) WHO SHALL BRING THESE MATTERS TO THE BOARD OF DIRECTORS. THE BOARD OF DIRECTORS SHALL DETERMINE WHETHER A CONFLICT EXISTS AND IN THE CASE OF AN EXISTING CONFLICT, WHETHER THE CONTEMPLATED TRANSACTION MAY BE AUTHORIZED AS JUST, FAIR, AND REASONABLE TO SPRING POINT PROJECT. THE DECISION OF THE BOARD (OR A DULY CONSTITUTED COMMITTEE THEREOF) ON THESE MATTERS WILL REST IN THEIR SOLE DISCRETION, AND THEIR CONCERN MUST BE THE WELFARE OF SPRING POINT PROJECT AND THE ADVANCEMENT OF ITS PURPOSE. INDIVIDUALS DETERMINED TO HAVE A CONFLICT OF INTEREST MAY NOT PARTICIPATE IN THE DISCUSSION OR VOTE ON THE TRANSACTION. PROCEEDINGS RESULTING FROM POTENTIAL OR ACTUAL CONFLICTS OF INTEREST ARE DOCUMENTED IN THE MEETING MINUTES OR AS OTHERWISE APPROPRIATE. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS FOR DETERMINING COMPENSATION FOR THE EXECUTIVE DIRECTOR AND STAFF INCLUDED REVIEW AND APPROVAL BY THE INDEPENDENT PERSONS, COMPARABILITY DATA, AND CONTEMPORANEOUS SUBSTANTIATION. THIS PROCESS LAST OCCURRED IN 2019 FOR ALL SALARIED STAFF. THE COMPENSATION COMMITTEE, MADE UP OF MEMBERS OF THE BOARD OF DIRECTORS, ANNUALLY REVIEWS AND PROPOSES COMPENSATION CHANGES TO THE BOARD OF DIRECTORS, WHO APPROVES THE COMPENSATION OF THE EXECUTIVE DIRECTOR AND ALL OTHER EMPLOYEES. THE ORGANIZATION HAS NO OTHER PAID OFFICERS OR KEY EMPLOYEES BEYOND THE EXECUTIVE DIRECTOR. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS ARE AVAILABLE ON THE MN AG OFFICE WEBSITE. THE CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.