Greater St Cloud Development Corporation is located in St Cloud, MN. The organization was established in 2012. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Greater St Cloud Development Corporation employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater St Cloud Development Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Greater St Cloud Development Corporation generated $1.1m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (1.2%) each year. All expenses for the organization totaled $1.0m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (6.5%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO LEAD INCLUSIVE & EQUITABLE ECONOMIC DEVELOPMENT FOR THE BENEFIT OF THE GREATER ST CLOUD COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
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.
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.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Mike Blair Treasurer | OfficerTrustee | 3 | $0 |
Heather Pieper Olson At-Large Director | Trustee | 2 | $0 |
Paul Pfeiffer At-Large Director | Trustee | 2 | $0 |
Michael Faber At-Large Director | Trustee | 2 | $0 |
Dr Kenneth Holmen At-Large Director | Trustee | 2 | $0 |
John Torgerson At-Large Director | Trustee | 2 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $1,030,185 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $1,030,185 |
Total Program Service Revenue | $49,000 |
Investment income | $6,118 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $1,112,396 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $152,278 |
Compensation of current officers, directors, key employees. | $22,842 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $242,678 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $10,067 |
Payroll taxes | $33,196 |
Fees for services: Management | $16,326 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $62,993 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $102,799 |
Advertising and promotion | $151,545 |
Office expenses | $1,260 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $98,381 |
Travel | $5,330 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $54,837 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $16,270 |
Insurance | $1,088 |
All other expenses | $0 |
Total functional expenses | $1,000,234 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $350,773 |
Savings and temporary cash investments | $624,631 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $60,108 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $26,748 |
Net Land, buildings, and equipment | $73,383 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $155,288 |
Total assets | $1,290,931 |
Accounts payable and accrued expenses | $41,303 |
Grants payable | $0 |
Deferred revenue | $72,373 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $263,256 |
Total liabilities | $376,932 |
Net assets without donor restrictions | $913,999 |
Net assets with donor restrictions | $0 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $0 |
Total liabilities and net assets/fund balances | $1,290,931 |