RESEARCH PARK AT SDSU (EIN 202506183) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2004

Legal Domicile

Principal Officer

JAY BENDER

Phone

6056965600

Tax Period

2023-01-01 to 2023-12-31

SOUTH DAKOTA STATE UNIVERSITY GROWTH PARTNERSHIP LTD, founded in 2004, is a small nonprofit in the Education sector that reported $595K in total revenue in fiscal year 2018. Expenses of $811K exceeded revenue, resulting in a 36% operating deficit.

Mission

TO BUILD AN ECONOMIC BASE OF NEWLY DEVELOPED TECHNOLOGIES AND BUSINESSES WITHIN SOUTH DAKOTA.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $3,551,366

Program Service Revenue $403,302

Investment Income $0

Other Revenue $0

TOTAL REVENUE $3,954,668

Expense Breakdown

Grants Paid $0

Salaries & Benefits $188,964

Fundraising Expenses $0

Program Expenses $1,142,268

Other Expenses $1,130,499

TOTAL EXPENSES $1,319,463

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,954,668	$17,830,188	-0.8%
Expenses	$1,319,463	$863,719	+0.5%
Net Income	$2,635,205	$16,966,469	-0.8%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✗ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$175,290

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAY BENDER	CHAIRMAN	0.50	Officer Director	$0	$0	$0
OPE NIEMEYER	VICE CHAIRMAN	0.50	Officer Director	$0	$0	$0
DR BARRY DUNN	BOARD MEMBER	0.50	Director	$0	$0	$0
KEVIN TETZLAFF	BOARD MEMBER	0.50	Director	$0	$0	$0
LARRY TIDEMANN	BOARD MEMBER	0.50	Director	$0	$0	$0
DR AL KURTENBACH	BOARD MEMBER	0.50	Director	$0	$0	$0
RYAN KROGMAN	BOARD MEMBER	0.50	Director	$0	$0	$0
JEFF PATRIDGE	BOARD MEMBER (BEG JUNE 2023)	0.50	Director	$0	$0	$0
TONY VANHUIZEN	BOARD MEMBER	0.50	Director	$0	$0	$0
DWAINE CHAPEL	CEO/EXECUTIVE DIRECTOR/SEC-TREAS	40.00	Officer	$170,130	$5,160	$175,290

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$3,954,668	$1,319,463	$38,823,631	$2,635,205
2022	$17,830,188	$863,719	$37,700,692	$16,966,469
2021	$2,332,482	$768,834	$19,673,846	$1,563,648
2020	$1,452,885	$684,409	$17,631,732	$768,476
2019	$617,789	$800,916	$16,487,078	$-183,127
2018	$595,076	$811,004	$16,685,349	$-215,928

RESEARCH PARK AT SDSU