2025-11-07T14:44:54-06:00 2024-12-31 450250958 EIDE BAILLY LLP 345 N REID PL STE 400 SIOUX FALLS SD 571037034 990 2024-01-01 202506183 RESEARCH PARK AT SDSU RESE 6056965600 2301 RESEARCH PARK WAY 146 BROOKINGS SD 57006 JAY BENDER CHAIRMAN 6056965600 2025-11-06 1 1 LAURIE HANSON CPA P00851848 6053391999 2025-11-04 2024 2025-03-06 01:10:19Z JAY BENDER 2301 RESEARCH PARK WAY 146 BROOKINGS SD 57006 1687046 0 X RPSDSTATE.COM X 2004 SD TO BUILD AN ECONOMIC BASE OF NEWLY DEVELOPED TECHNOLOGIES AND BUSINESSES WITHIN SOUTH DAKOTA. 9 9 1 9 0 0 3551366 1301425 403302 385621 0 0 0 0 3954668 1687046 0 0 0 0 188964 203461 0 0 0 1130499 1612477 1319463 1815938 2635205 -128892 38823631 38692495 677556 694157 38146075 37998338 X THE SDSU GROWTH PARTNERSHIP, LTD IS DEDICATED TO SERVE THE BROOKINGS AREA, THE STATE OF SOUTH DAKOTA AND ADJACENT COMMUNITIES AND STATES. TO ACCOMPLISH THIS GOAL, A LONG-TERM DEVELOPMENT STRATEGY HAS BEEN INCORPORATED THAT WILL, OVER DECADES, BUILD UP AN ECONOMIC BASE OF NEWLY DEVELOPED TECHNOLOGIES AND BUSINESSES WHICH WILL EXPAND THROUGHOUT THE REGION AND STATE OF SOUTH DAKOTA. THE RESEARCH PARK WILL CONTINUE TO EXPAND WITH ADDITIONAL BUILDINGS AND RESEARCH PROJECTS, ENHANCING THE ECONOMIC WELL-BEING OF THE CITY OF BROOKINGS AND ITS SURROUNDING AREAS AND IMPROVE ITS QUALITY OF LIFE AND PROSPERITY. THE WHOLE INTENT OF THE PARK IS TO EXPAND AND COMMERCIALIZE UNIVERSITY AND LOCAL INNOVATION. JOB CREATION, EMPLOYEE WEALTH, AND NEW BUSINESS DEVELOPMENT ARE CORE PILLARS TO THE ORGANIZATION. 0 0 1622153 385621 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, MARKET PLANS AND FINANCIAL PROJECTIONS. THIS PAST YEAR THE BROOKINGS INNOVATION CENTER AND RESEARCH PARK STAFF CONTINUE TO ASSIST UNIVERSITY, COMMUNITY, AND REGIONAL STARTUPS. THE TEAM ALSO WORKS WITH INDUSTRY PARTNERS THAT WISH TO BE LOCATED IN THE RESEARCH PARK. THE RESEARCH PARK STAFF HAVE ADDED SEVERAL NEW STARTUPS THAT ARE RECEIVING ASSISTANCE. 1622153 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 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 3 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 1 1 0 0 X X SDSU GROWTH PARTNERSHIP 6056965600 2301 RESEARCH PARK WAY STE 146 BROOKINGS SD 57006 JAY BENDER CHAIRMAN 0.50 X X 0 0 0 OPE NIEMEYER VICE CHAIRMAN 0.50 X X 0 0 0 DR BARRY DUNN BOARD MEMBER 0.50 X 0 0 0 KEVIN TETZLAFF BOARD MEMBER 0.50 X 0 0 0 LARRY TIDEMANN BOARD MEMBER 0.50 X 0 0 0 RYAN KROGMAN BOARD MEMBER 0.50 X 0 0 0 JEFF PATRIDGE BOARD MEMBER 0.50 X 0 0 0 TONY VANHUIZEN BOARD MEMBER 0.50 X 0 0 0 JIM MORGAN BOARD MEMBER 0.50 X 0 0 0 DWAINE CHAPEL CEO/EXECUTIVE DIRECTOR/SEC 40.00 X 185000 0 5325 185000 0 5325 1 0 1 0 MILLS CONSTRUCTION 1311 MAIN AVE BROOKINGS SD 57006 CONSTRUCTION CONTRACTOR 207324 INNOVATIVE LABS 582 TOWER A ROCKFORD MN 55373 LAB EQUIPMENT CONTRACTOR 178713 MCCOWAN GORDON 850 MAIN ST KANSAS CITY MO 64105 CONSTRUCTION CONTRACTOR 104643 3 1301425 1301425 RENTAL INCOME 531190 385621 385621 385621 1687046 385621 0 0 X 190325 142744 47581 13136 10509 2627 282801 170750 112051 37691 30854 6837 9745 9745 158749 150665 8084 18017 18017 10675 10675 808093 804194 3899 30516 30516 REPAIRS AND MAINTENANCE 226556 226556 DUES/SUBSCRIPTIONS/CONV 29588 26627 2961 46 46 1815938 1622153 193785 0 191319 114208 452972 595077 3576 10247 3608 22282 31419049 3900369 27718042 27518680 66000 76000 10388114 10356001 38823631 38692495 339204 302601 314234 370792 24118 20764 677556 694157 X 29101728 29008836 9044347 8989502 38146075 37998338 38823631 38692495 X -128892 -18845 X 0 1 X 1 0 X 1133077 2010593 17447236 3551366 1301425 25443697 269149 268648 268130 267598 267049 1340574 1402226 2279241 17715366 3818964 1568474 26784271 26784271 26784271 1813572 1.00000 1.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 31236466 3779390 27457076 6911 1421 5490 131678 115401 16277 43994 4157 39837 27518680 OPERATING LEASE RIGHT OF USE ASSET 1120381 LOAN FEES 5600 ACCOUNTS RECEIVABLE FROM LLC 15000 PROMISES TO GIVE - IN-KIND LAND LEASE 8881502 LAND SUBLEASE RECEIVABLE 333518 10356001 SECURITY DEPOSITS 20463 DEFERRED REVENUE 301 20764 X 1954095 267049 267049 1687046 0 1687046 2101832 285894 285894 1815938 0 1815938 PART X, LINE 2: THE ORGANIZATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AFFECTING ITS ANNUAL FILING REQUIREMENTS, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE ORGANIZATION WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS AND LIABILITIES IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED. X 0 0 0 0 0 0 0 0 0 DWAINE CHAPEL CEO/EXECUTIVE DIRECTOR/SEC 185000 0 0 0 0 0 5325 0 0 0 190325 0 0 0 FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE EXECUTIVE DIRECTOR AND BOARD PRESIDENT REVIEW THE FORM 990. A COPY OF THE 990 IS PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS AND STAFF ARE COVERED BY THE CONFLICT OF INTEREST POLICY. IF A MEMBER BELIEVES THAT THEY HAVE A POTENTIAL CONFLICT THE MEMBER SHALL DISCLOSE ALL MATERIAL FACTS REGARDING THE CONFLICT. THE BOARD OF DIRECTORS IS RESPONSIBLE FOR DETERMINING IF AN ACTUAL CONFLICT EXISTS. IF A CONFLICT DOES EXIST, THE PERSON WITH THE CONFLICT SHALL NOT PARTICIPATE IN OR BE PERMITTED TO HEAR THE BOARDS DISCUSSION OR BE ALLOWED TO VOTE. ANNUALLY EACH MEMBER AND STAFF SHALL COMPLETE A DISCLOSURE FORM. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD REVIEWS THE EXECUTIVE DIRECTOR'S PERFORMANCE AND SETS COMPENSATION. THERE ARE INDUSTRY DATA SURVEYS THAT ARE AVAILABLE FOR THE BOARDS REVIEW. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 170,750. MANAGEMENT AND GENERAL EXPENSES 112,051. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 282,801. FORM 990, PART XI, LINE 9: IN-KIND PROMISES TO GIVE -18,845.