UNIVERSITY OF SOUTH DAKOTA RESEARC… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2012

Legal Domicile

Principal Officer

RYAN OINES

Phone

6052758010

Tax Period

2024-01-01 to 2024-12-31

UNIVERSITY OF SOUTH DAKOTA RESEARCH PARK INC, founded in 2012, is a mid-sized nonprofit in the Education sector that reported $10.4M in total revenue in fiscal year 2024. Revenue surged 173% from the prior year, signaling strong growth momentum. The organization ran a surplus of $10.1M, a strong 97% operating margin.

Mission

TO FOSTER ECONOMIC DEVELOPMENT BY:- GROWING UNIVERSITY RESEARCH CAPACITY, RESOURCES, AND TALENT- CONNECTING THESE CORE UNIVERSITY ACTIVITIES WITH PRIVATE SECTOR RESOURCES AND COMPANIES- FOSTERING ECONOMIC AND WORKFORCE DEVELOPMENT THROUGH SUPPORTING COMMERCIALIZATION AND ENTREPRENEURSHIP PROGRAMMING- FACILITATING THE CREATION OF THE PHYSICAL INFRASTRUCTURE NECESSARY TO SUPPORT CREATION AND ATTRACTION OF RESEARCH AND INNOVATION-BASED BUSINESS

Program Service Accomplishments

Program 1

Expenses: $265,628

FINAL DESIGN AND CONSTRUCTION MANAGEMENT OF BUILDING 1 EXECUTED IN 2024. FUNDS RECEIVED FROM THE STATE OF SOUTH DAKOTA THROUGH HB 1210, $15,000,000, MUST BE SPENT FIRST. IN 2024, $11,249,906.36 WAS SPENT BY THE USD DISCOVERY DISTRICT AND REIMBURSED THROUGH THE FUNDS RECEIVED FROM THE STATE OF SOUTH DAKOTA. ESTIMATED COMPLETION OF BUILDING IS JANUARY 2025.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $10,029,714

Program Service Revenue $0

Investment Income $244,407

Other Revenue $99,105

TOTAL REVENUE $10,373,226

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $265,628

Other Expenses $306,031

TOTAL EXPENSES $306,031

Year-over-Year Comparison

	2024	2023	Change
Revenue	$10,373,226	$3,795,139	+1.7%
Expenses	$306,031	$234,434	+0.3%
Net Income	$10,067,195	$3,560,705	+1.8%

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

N/A

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

$453,719

Total Directors

$779,514

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SHEILA GESTRING	CHAIR	0.10	Officer Director	$0	$42,513	$453,719
JAMES ABBOTT	INTERIM PRESIDENT	20.00	Director	$0	$0	$0
DEB PETERS	TREASURER	0.20	Officer Director	$0	$0	$0
MARK MICKELSON	DIRECTOR	0.10	Director	$0	$0	$0
KIM PATRICK	DIRECTOR	0.10	Director	$0	$0	$0
PAUL TENHAKEN	DIRECTOR	0.10	Director	$0	$0	$0
TIM RAVE	DIRECTOR	0.10	Director	$0	$0	$0
BOBBIE TIBBETTS	DIRECTOR	0.10	Director	$0	$0	$0
KATHRYN POHLSON	DIRECTOR (BEG MAY 2024)	0.10	Director	$0	$0	$0
MATT MICHELS	DIRECTOR	0.10	Director	$0	$0	$0
NATHAN LUKKES	DIRECTOR	0.10	Director	$0	$40,499	$325,795
NATHAM PETERSON	DIRECTOR (UNTIL MAR 2024)	0.10	Director	$0	$0	$0
RYAN OINES	CHIEF OPERATING OFFICER	40.00	Officer	$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	$10,373,226	$306,031	$22,733,061	$10,067,195
2023	$3,795,139	$234,434	$12,986,266	$3,560,705
2022	$4,700,103	$171,926	$7,803,121	$4,528,177
2021	$721,045	$330,560	$3,272,091	$390,485
2020	$1,539,657	$1,082,661	$3,041,960	$456,996
2019	$2,750,690	$2,388,731	$8,833,001	$361,959
2018	$667,188	$584,414	$2,139,331	$82,774

UNIVERSITY OF SOUTH DAKOTA RESEARCH PARK INC