EXPERIENCE SIOUX FALLS

EIN: 873484216 Community Improvement

SIOUX FALLS, SD

Total Revenue
$3,773,001
Total Expenses
$3,426,168
Total Assets
$5,312,496
Net Assets
$4,663,529
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2020
Legal Domicile
SD
Principal Officer
TERI SCHMIDT
Phone
6052756060
Tax Period
2023-01-01 to 2023-12-31

EXPERIENCE SIOUX FALLS, founded in 2020, is a community nonprofit in the Community Improvement sector that reported $3.8M in total revenue in fiscal year 2023. Revenue fell 26% from the prior year — a significant decline worth monitoring. Expenses of $3.4M left a modest 9% surplus.

Mission

EXPERIENCE SIOUX FALLS WORKS WITH STRATEGIC PARTNERS TO MARKET SIOUX FALLS, SOUTH DAKOTA, DEVELOP TOURISM, AND STRENGTHEN EVENTS PROVIDING POSITIVE ECONOMIC IMPACT TO THE SIOUX FALLS COMMUNITY.

Program Service Accomplishments

Program 1

EXPERIENCE SIOUX FALLS, FORMERLY THE SIOUX FALLS CONVENTION AND VISITORS BUREAU, IS FUNDED BY TWO SOURCES. WHEN THE ORGANIZATION WAS CREATED IN THE EARLY 70'S, THE CITY AGREED TO FUND THE GROUP...

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EXPERIENCE SIOUX FALLS, FORMERLY THE SIOUX FALLS CONVENTION AND VISITORS BUREAU, IS FUNDED BY TWO SOURCES. WHEN THE ORGANIZATION WAS CREATED IN THE EARLY 70'S, THE CITY AGREED TO FUND THE GROUP THROUGH A 1% ROOM TAX PLUS 500,000 FROM THE GENERAL FUND. THIS ROOM RAX WAS COLLECTED FROM ALL SIOUX FALLS HOTELS AND DIRECTED TO THE ORGANIZATION. IN 2011, A BID (BUSINESS IMPROVEMENT DISTRICT) WAS FORMED BY SIOUX FALLS HOTELS, IN COOPERATION WITH THE CITY OF SIOUX FALLS, TO FURTHER FUND EXPERIENCE SIOUX FALLS FOR THE PURPOSE OF REMAINING COMPETITIVE IN SALES AND MARKETING. THE BID BECAME EFFECTIVE ON JANUARY 1, 2011, VIA CITY ORDINANCE AND IS COLLECTED FROM ALL HOTELS WITH 40+ ROOMS IN THE CITY LIMITS OF SIOUX FALLS. IT WAS AT THIS TIME THAT THE 500,000 WAS NO LONGER PROVIDED TO EXPERIENCE SIOUX FALLS. EXPERIENCE SIOUX FALLS (ESF) - FORMERLY KNOWN AS CONVENTION & VISITORS BUREAU (CVB), EXISTS TO BRING VISITORS TO SIOUX FALLS TO CREATE ECONOMIC IMPACT THROUGHOUT THE CITY, I.E.: HOTEL ROOM TAX, SALES TAX, AND JOBS. IN 2023, ESF BOOKED 101 CONVENTIONS, MEETINGS, AND EVENTS INVOLVING 63,635 PEOPLE. ESF DISTRIBUTED 93,100 VISITOR GUIDES VIA MAIL, DIRECT MAIL, READER RESPONSE, DOWNLOADS, AND VIEW, AND TO CONVENTIONS, MEETINGS, AND EVENT ATTENDEES IN SIOUX FALLS. IN 2023, THE TOTAL NUMBER OF VISITORS TO SIOUX FALLS ESTIMATED BY ESF IS 825,453. ESF SERVICED 98 CONVENTIONS, MEETINGS AND EVENTS INVOLVING 90,251 PEOPLE. ESF PRINTS PUBLICATIONS SUCH AS SIOUX FALLS VISITOR GUIDE (150,000). ESF TRAVELS NATIONWIDE MAKING SALES CALLS AND BID PRESENTATIONS TO BRING NEW BUSINESS TO THE CITY. DIGITAL AND PRINT SALES AND MARKETING PROGRAMS ARE COMPLETED TO ADVERTISE THE CITY THROUGHOUT THE COUNTRY. THE VISITOR INFORMATION CENTER AT FALLS PARK IS ALSO MANAGED BY ESF.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $223,000
Program Service Revenue $3,453,804
Investment Income $64,336
Other Revenue $31,861
TOTAL REVENUE $3,773,001

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,210,426
Fundraising Expenses $0
Other Expenses $2,215,742
TOTAL EXPENSES $3,426,168

Year-over-Year Comparison

2023 2022 Change
Revenue $3,773,001 $5,111,861 -0.3%
Expenses $3,426,168 $1,003,834 +2.4%
Net Income $346,833 $4,108,027 -0.9%
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
8
Independent Members
8
Employees
41
Volunteers
78

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
4
$187,995
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JANET GRUNEWALDT CHAIRPERSON 1.00
Officer Director
$0 $0 $0
FRANK GURNICK VICE CHAIRPE 1.00
Officer Director
$0 $0 $0
AMY SMOLIK SECRETARY/TR 1.00
Officer Director
$0 $0 $0
AUDREY OTTO-PEPPER DIRECTOR 1.00
Director
$0 $0 $0
CHRISTINE BRUNING DIRECTOR 1.00
Director
$0 $0 $0
SHAILESH PATEL DIRECTOR 1.00
Director
$0 $0 $0
RICCARDO TARABELSI DIRECTOR 1.00
Director
$0 $0 $0
PAUL HEGG DIRECTOR 1.00
Director
$0 $0 $0
TERI SCHMIDT CEO 40.00
Officer
$170,864 $17,131 $187,995
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 $3,773,001 $3,426,168 $5,312,496 $346,833
2022 $5,111,861 $1,003,834 $4,763,755 $4,108,027
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