GREATER ST CLOUD DEVELOPMENT CORPORATION

EIN: 452050341 501(c)(3) Community Improvement

ST CLOUD, MN

Total Revenue
$1,112,396
Total Expenses
$1,000,234
Total Assets
$1,290,931
Net Assets
$913,999
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Financial Trends

Organization Details

Formation Year
2011
Legal Domicile
MN
Principal Officer
MIKE BLAIR
Phone
3202590300
Tax Period
2023-01-01 to 2023-12-31

GREATER ST CLOUD DEVELOPMENT CORPORATION, founded in 2011, is a community nonprofit in the Community Improvement sector that reported $1.1M in total revenue in fiscal year 2023. Revenue fell 21% from the prior year — a significant decline worth monitoring. Expenses of $1.0M left a modest 10% surplus.

Mission

SEE PAGE 1, PART 1

Program Service Accomplishments

Program 1
Expenses: $400,094 Revenue: $38,047

COMMUNITY DEVELOPMENT - IN ORDER TO ATTRACT, RETAIN AND EXPAND BUSINESSES WITHIN THE REGION, THE GSDC IS FOCUSED ON BUILDING AND DEVELOPING THE COMMUNITY THROUGH MULTIPLE STRATEGIC INITIATIVES THAT...

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COMMUNITY DEVELOPMENT - IN ORDER TO ATTRACT, RETAIN AND EXPAND BUSINESSES WITHIN THE REGION, THE GSDC IS FOCUSED ON BUILDING AND DEVELOPING THE COMMUNITY THROUGH MULTIPLE STRATEGIC INITIATIVES THAT SUPPORT BUSINESS DEVELOPMENT 1) IMPROVE ACCESS TO THE REGION BY EXPANDING THE REGIONAL TRANSPORTATION INFRASTRUCTURE: GSDC SUCCESSFULLY LED EFFORTS RESULTING IN THE CREATION OF A REGIONAL AIRPORT AUTHORITY TO MORE EFFECTIVELY OPERATE AND GROW AIR SERVICE AT THE ST. CLOUD REGIONAL AIRPORT. GDSC ALSO COLLABORATES WITH THE I94 WEST COALITION TO PROMOTE CONTINUED EXPANSION OF I94 FROM THE TWIN CITIES TO THE ST CLOUD REGION. 2) GSDC AGGRESSIVELY MARKETS AND PROMOTES THE REGION FOR TALENT AND BUSINESS ATTRACTION, RETENTION AND EXPANSION VIA A COMPREHENSIVE WEBSITE (WWW.STCLOUDSHINES.COM), THROUGH AN EXPANSIVE SOCIAL MEDIA CAMPAIGN THAT HAS GARNERED MORE THAN 170 MILLION IMPRESSIONS VIA FACEBOOK AND INSTAGRAM SINCE ITS LAUNCH IN 2019 AND BY SHOWCASING MORE THAN 20,000 JOBS AVAILABLE WITH MORE THAN 1,300 EMPLOYERS IN THE REGION. 3) GSDC CONTINUES TO HOST AND SUPPORT THE HARVARD BASED YOUNG AMERICAN LEADERS COHORT INITIATIVE, INDUCTING 8 NEW LEADERS INTO THE PROGRAM IN 2023. 4) GSDC HOSTED EXECUTIVE ROUNDTABLE SESSIONS ON CRITICAL TOPICS OF INTEREST TO OUR EMPLOYERS (E.G. TALENT RECRUITMENT & RETENTION, MENTAL HEALTH IN THE WORKPLACE, SUPPLY CHAIN & CHILDCARE CHALLENGES). 5) GSDC COLLABORATES AND ACTIVELY ENGAGED WITH THE NEWLY FORMED DOWNTOWN ALLIANCE TO PROMOTE REVITALIZATION EFFORTS FOR THE DOWNTOWN ST. CLOUD REGION AND SERVES ON THE MAYOR'S DOWNTOWN TASK FORCE. GSDC STAFF WERE CHARGED WITH CHAIRING A BUSINESS IMPROVEMENT DISTRICT SUBCOMMITTEE IN 2023. 6) GSDC SOLICITED AND RECOGNIZED FOUR COMPANIES/ORGANIZATIONS WITH INNOVATION AWARDS AND ONE COMPANY WITH EMPLOYER OF CHOICE AWARDS. 7) GSDC PROVIDES ADMINISTRATIVE AND FISCAL HOSTING SERVICES TO SUPPORT THE EPIC PROGRAM (EXPLORING POTENTIAL INTERESTS AND CAREERS), TEDX, AND OTHER EMERGING INITIATIVES AND NON-PROFITS. 8) GSDC CONTINUES TO LEAD AND CONVENE COMMUNITY LEADERS IN EFFORTS TO ADDRESS DIVERSITY, EQUITY, AND INCLUSION NEEDS IN THE REGION THAT WILL LEAD TO EVENTUAL ELIMINATION OF THE RACIAL DISPARITIES GAP.

Program 2
Expenses: $360,085 Revenue: $34,242

BUSINESS RETENTION AND EXPANSION - THE GSDC CONTINUES TO TAKE A LEADERSHIP ROLE IN PARTNERING WITH LOCAL CITIES, COUNTIES AND CHAMBERS OF COMMERCE TO DEPLOY STANDARDIZED, REGIONAL PROCESSES FOR...

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BUSINESS RETENTION AND EXPANSION - THE GSDC CONTINUES TO TAKE A LEADERSHIP ROLE IN PARTNERING WITH LOCAL CITIES, COUNTIES AND CHAMBERS OF COMMERCE TO DEPLOY STANDARDIZED, REGIONAL PROCESSES FOR BUSINESS RETENTION AND EXPANSION. THE GSDC HAS DEVELOPED THESE STREAMLINED PROCESSES BASED ON BEST PRACTICES, STANDARD TOOLS AND TECHNOLOGY. IN 2023, THE GSDC CONDUCTED 41 VISITS AND 140 INTERVIEWS WITH REGIONAL PRIMARY SECTOR BUSINESSES.

Program 3
Expenses: $40,009 Revenue: $3,804

BUSINESS ATTRACTION & STARTUP - BUSINESS ATTRACTION & STARTUP - GSDC TAKES A LEADERSHIP POSITION IN PARTNERING WITH LOCAL CITIES, COUNTIES AND THE STATE OF MN TO DEPLOY COLLABORATIVE REGIONAL...

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BUSINESS ATTRACTION & STARTUP - BUSINESS ATTRACTION & STARTUP - GSDC TAKES A LEADERSHIP POSITION IN PARTNERING WITH LOCAL CITIES, COUNTIES AND THE STATE OF MN TO DEPLOY COLLABORATIVE REGIONAL PROCESSES AND RESPONSES TO BUSINESS ATTRACTION. GSDC IS AN ENGAGED MEMBER IN THE MN MARKETING PARTNERSHIP WHICH IS LED BY DEED TO ATTRACT BUSINESS TO MINNESOTA. GSDC ASSISTED 200+ ENTREPRENEURS AND STARTUPS THROUGH ITS CONTINUED DESIGNATION AS A "LAUNCH MINNESOTA" HUB. IN ADDITION TO SECURING AN ADDITIONAL LAUNCH MN GRANT, THE GSDC APPLIED FOR AND WAS AWARDED A SMALL BUSINESS ASSISTANCE PARTNERSHIP GRANT FOR THE 24-25 BIENNIUM TO EXPAND STARTUP AND SMALL BUSINESS PROGRAMING. GSDC ALSO RESPONDED TO 6 BUSINESS ATTRACTION INQUIRIES IN 2023 AND OVER 170 SINCE 2014.

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Trantor Score

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,030,185
Program Service Revenue $49,000
Investment Income $6,118
Other Revenue $27,093
TOTAL REVENUE $1,112,396

Expense Breakdown

Grants Paid $0
Salaries & Benefits $438,219
Fundraising Expenses $21,965
Program Expenses $800,188
Other Expenses $562,015
TOTAL EXPENSES $1,000,234

Year-over-Year Comparison

2023 2022 Change
Revenue $1,112,396 $1,413,626 -0.2%
Expenses $1,000,234 $1,130,152 -0.1%
Net Income $112,162 $283,474 -0.6%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
22
Independent Members
22
Employees
7
Volunteers
175

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
6
$155,617
Total Directors
24
$155,617
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MIKE BLAIR TREASURER 3.00
Officer Director
$0 $0 $0
HEATHER PIEPER OLSON AT-LARGE DIRECTOR 2.00
Director
$0 $0 $0
PAUL PFEIFFER AT-LARGE DIRECTOR 2.00
Director
$0 $0 $0
MICHAEL FABER AT-LARGE DIRECTOR 2.00
Director
$0 $0 $0
DR KENNETH HOLMEN AT-LARGE DIRECTOR 2.00
Director
$0 $0 $0
JOHN TORGERSON AT-LARGE DIRECTOR 2.00
Director
$0 $0 $0
PATTI GARTLAND PAST PRESIDENT 50.00
Officer Director
$74,643 $2,214 $76,857
RON BRANDENBURG SECRETARY 3.00
Officer Director
$0 $0 $0
JEFF GAU AT-LARGE DIRECTOR 2.00
Director
$0 $0 $0
MIKE MARKMAN AT-LARGE DIRECTOR 2.00
Director
$0 $0 $0
JOAN SCHATZ CHAIR 10.00
Officer Director
$0 $0 $0
DR ROBBYN WACKER AT-LARGE DIRECTOR 2.00
Director
$0 $0 $0
PAT EDEBURN AT-LARGE DIRECTOR 2.00
Director
$0 $0 $0
STEFANIE BROWN VICE CHAIR 3.00
Officer Director
$0 $0 $0
LORI KLOOS AT-LARGE DIRECTOR 2.00
Director
$0 $0 $0
MIKE GOHMAN AT-LARGE DIRECTOR 2.00
Director
$0 $0 $0
BRIAN BRUESS AT-LARGE DIRECTOR 2.00
Director
$0 $0 $0
BRAD BERGSTROM AT-LARGE DIRECTOR 2.00
Director
$0 $0 $0
BUDDY KING AT-LARGE DIRECTOR 2.00
Director
$0 $0 $0
DAVE MEYER AT-LARGE DIRECTOR 2.00
Director
$0 $0 $0
NETIA BAUMAN PRESIDENT 50.00
Officer Director
$77,635 $1,125 $78,760
AYAN OMAR AT-LARGE DIRECTOR 2.00
Director
$0 $0 $0
CLARE RICHARDS AT-LARGE DIRECTOR 2.00
Director
$0 $0 $0
DANNY LANE AT-LARGE DIRECTOR 2.00
Director
$0 $0 $0
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 $1,112,396 $1,000,234 $1,290,931 $112,162
2022 $1,413,626 $1,130,152 $1,353,759 $283,474
2021 $950,775 $1,010,207 $1,036,284 $-59,432
2020 $1,267,124 $1,157,992 $878,528 $109,132
2019 $945,991 $1,102,286 $761,626 $-156,295
2018 $1,037,292 $1,187,700 $804,307 $-150,408
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