Civic Intelligence

Sculpturewalk Inc.

990 • Fiscal year 2023 • EIN 20-8535871

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 15, 2024

300 S Phillips Ave Ste 104Sioux Falls, SD 57104

(605) 367-6000

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

42nd percentile

0.04x

Higher debt load relative to assets than 42% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

67th percentile

0.23x

Higher debt load relative to revenue than 67% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

70th percentile

16%

Higher net margin than 70% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

48th percentile

3.9%

Faster asset growth than 48% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

49th percentile

6.2%

Faster revenue growth than 49% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Up

$3,085,279

Up $114,676 (+3.9%) from 2022

Net Assets

Up

$2,977,176

Up $75,477 (+2.6%) from 2022

Liabilities

Up

$108,103

Up $39,199 (+57%) from 2022

Revenue

Up

$478,182

Up $28,091 (+6.2%) from 2022

Expenses

Down

$402,705

Down $10,593 (-2.6%) from 2022

Net Income

Up

$75,477

Up $38,684 (+105%) from 2022

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$4.0M$3.0M$2.0M$1.0M$0Assets 2010: $138,106Liabilities 2010: $42,214Net Assets 2010: $95,8922010Assets 2011: $112,274Liabilities 2011: $10,399Net Assets 2011: $101,8752011Assets 2012: $146,568Liabilities 2012: $17,594Net Assets 2012: $128,9742012Assets 2013: $149,548Liabilities 2013: $59,797Net Assets 2013: $89,7512013Assets 2014: $325,133Liabilities 2014: $48,313Net Assets 2014: $276,8202014Assets 2015: $1,133,470Liabilities 2015: $46,438Net Assets 2015: $1,087,0322015Assets 2016: $1,354,856Liabilities 2016: $56,130Net Assets 2016: $1,298,7262016Assets 2017: $1,705,661Liabilities 2017: $63,705Net Assets 2017: $1,641,9562017Assets 2018: $2,667,818Liabilities 2018: $77,468Net Assets 2018: $2,590,3502018Assets 2019: $3,131,365Liabilities 2019: $164,687Net Assets 2019: $2,966,6782019Assets 2020: $3,012,037Liabilities 2020: $51,497Net Assets 2020: $2,960,5402020Assets 2021: $2,909,587Liabilities 2021: $44,681Net Assets 2021: $2,864,9062021Assets 2022: $2,970,603Liabilities 2022: $68,904Net Assets 2022: $2,901,6992022Assets 2023: $3,085,279Liabilities 2023: $108,103Net Assets 2023: $2,977,1762023Assets 2024: $3,118,880Liabilities 2024: $31,183Net Assets 2024: $3,087,6972024

Highlighted filing

2023

Assets$3,085,279
Liabilities$108,103
Net Assets$2,977,176

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2010: $104,906Expenses 2010: $91,857Net Income 2010: $13,0492010Revenue 2011: $107,550Expenses 2011: $101,567Net Income 2011: $5,9832011Revenue 2012: $134,929Expenses 2012: $107,830Net Income 2012: $27,0992012Revenue 2013: $158,377Expenses 2013: $197,600Net Income 2013: -$39,2232013Revenue 2014: $416,464Expenses 2014: $229,395Net Income 2014: $187,0692014Revenue 2015: $1,100,357Expenses 2015: $290,145Net Income 2015: $810,2122015Revenue 2016: $500,618Expenses 2016: $288,924Net Income 2016: $211,6942016Revenue 2017: $683,647Expenses 2017: $340,417Net Income 2017: $343,2302017Revenue 2018: $1,314,633Expenses 2018: $366,239Net Income 2018: $948,3942018Revenue 2019: $789,553Expenses 2019: $413,225Net Income 2019: $376,3282019Revenue 2020: $401,267Expenses 2020: $407,405Net Income 2020: -$6,1382020Revenue 2021: $385,029Expenses 2021: $403,613Net Income 2021: -$18,5842021Revenue 2022: $450,091Expenses 2022: $413,298Net Income 2022: $36,7932022Revenue 2023: $478,182Expenses 2023: $402,705Net Income 2023: $75,4772023Revenue 2024: $569,811Expenses 2024: $473,636Net Income 2024: $96,1752024

Highlighted filing

2023

Revenue$478,182
Expenses$402,705
Net Income$75,477
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 15, 2024
Return Version
2023v5.1
Gross Receipts
$507,213
Mission and Program Overview

Mission

To grow the economy by making Sioux Falls a better place to live work and raise a family and to make Sioux Falls a more attractive tourist destination.

The organization's mission is to bring art to the people, and its guiding principle is to be the highest quality, most professional, financially strong, artist-friendly, year-round outdoor sculpture program in the USA.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,519,509$2,465,689▼ $53,820
Cash and Non-Interest-Bearing Accounts$372,101$498,418▲ $126,317
Prepaid Expenses and Deferred Charges$28,761$69,365▲ $40,604
Investments Other Securities$18,561$20,836▲ $2,275
Accounts Receivable$7,000$20,500▲ $13,500
Other Notes and Loans Receivable, Net$9,000$0▼ $9,000
Intangible Assets$9,796$8,971▼ $825
Pledges and Grants Receivable$5,875$1,500▼ $4,375
Savings and Temporary Cash Investments-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Inventories for Sale or Use-$0-
Total Assets$2,970,603$3,085,279▲ $114,676
Other Assets Total-$0-
Liabilities
Deferred Revenue$31,352$58,200▲ $26,848
Accounts Payable and Accrued Expenses$37,552$49,903▲ $12,351
Total Liabilities$68,904$108,103▲ $39,199
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,901,699$2,977,176▲ $75,477
Total Net Assets Fund Balance$2,901,699$2,977,176▲ $75,477
Total Liabilities and Net Assets / Fund Balance$2,970,603$3,085,279▲ $114,676

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$1,998,380$233,502$2,231,882
Leasehold Improvements$369,209-$369,209
Equipment$98,100$42,033$140,133

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$18,561$300▲ $1,974-$20,835
2022$20,978$200▼ $2,617-$18,561
2021$19,150$100▲ $1,728-$20,978
2020$16,682$50▲ $2,418-$19,150
2019$14,170-▲ $2,512-$16,682
Compensation and Service Providers

Board Members and Trustees

NameTitle
Regan SmithPresident
Andrew EitreimVice President
Candi GrossenburgDirector
Carolyn ChristensenDirector
Hillary McQuadeDirector
Jim MathisDirector
John BeranekDirector
Koni SchillerDirector
Nicole BellDirector
Rae MorlanDirector
Jeanelle LustSecretary
Joel SylvesterTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$330,907
Program Service Revenue
$90,250
Investment Income
$3,764
Other Revenue
$53,261
All Other Contributions
$274,958
Change in Net Assets
$75,477
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$294,705
Grants and Similar Amounts Paid$108,000
Total Fundraising Expense$581
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management-$112,589-$112,589
Grants to Domestic Individuals$108,000--$108,000
Depreciation Depletion$54,645--$54,645
Advertising$13,626--$13,626
Insurance$6,476$4,691-$11,167
Occupancy$6,600--$6,600
Office Expenses-$1,745-$1,745
Other Expenses$1,469--$1,469
All Other Expenses$1,295--$1,295
Fees for Services Legal-$125$581$706
Fees for Services Accounting-$577-$577
Travel$104--$104
Total Functional Expenses$282,397$119,727$581$402,705
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$66,220
Fundraising Direct Expenses$17,521
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Taste of Sioux falls$89,286$66,220$298$65,922
Total Events$89,286$66,220$17,521$48,699
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

In June 2021, the Board hired Washington Pavilion Management, Inc. to serve as their management company thereby delegating control over management duties.

Form 990, Part VI, Section B, Line 11B

Upon completion of the annual IRS 990, the Directors receive a copy of the draft return, prior to its filing, for their review, their commentary, and their approval to e-file the annual return.

Form 990, Part VI, Section B, Line 12C

All Directors are held to the Conflict of Interest Policy. If a potential conflict exists, the Board will review the conflict. If it is determined that a conflict exists, the Director will be asked to abstain from discussion and voting on the conflict topic. Depending on the conflict, the Director may be asked to step down from their position.

Form 990, Part VI, Section C, Line 19

Public copies of the annual returns are available upon request.

Filing and Contact Details

Filer

Filer Name
Sculpturewalk Inc
EIN
20-8535871
Phone
6053676000
Address
300 S Phillips Ave Ste 104, Sioux Falls, SD 57104

Signing Officer

Name
Andrew Eitreim
Title
President
Signed
2024-11-15
Discuss with paid preparer
Yes

Organization Details

Formed
2006
Legal Domicile
Sd
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
20

Preparer

Firm
Horner Business Solutions
Address
27098 Saddlerock Place, Harrisburg, SD 57032
Preparer
Christina Van Riper
Phone
6053662918
Supplemental Narrative

Financial Statement Notes

Part III, Line 4: Description of organization'S collections and how it furthers its purpose.

This is an inventory of sculptures that were either donated or purchased in prior years. Some sculptures are in storage while others are loaned out for displaying to give everyone an appreciation of art.

Part V, Line 4: Intended uses of the endowment fund.

The earnings of this endowment will be used to further the operations of the organization.

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IRS990/MissionDesc0The organization's mission is to bring art to the people, and its guiding principle is to be the highest quality, most professional, financially strong, artist-friendly, year-round outdoor sculpture program in the USA.
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IRS990/ProgSrvcAccomActy2Grp/Desc0Arc of Dreams is a monumental stainless steel sculpture that spans across the Big Sioux River in the heart of downtown Sioux Falls, SD. The sculpture is nearly a football field's length with a 15-foot open gap in the middle hovering 85 feet above the River. The Arc of Dreams represents the leap of faith dreamers take to see their dreams come true. The sculpture was installed in July 2019 and was made possible by the generosity of over 700 donors.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.12$0.03$3.09$0.57$0.47$0.10
2023Detailed filing. Detailed filing data is available for this year.$3.09$0.11$2.98$0.48$0.40$0.08
2022Detailed filing. Detailed filing data is available for this year.$2.97$0.07$2.90$0.45$0.41$0.04
2021Detailed filing. Detailed filing data is available for this year.$2.91$0.04$2.86$0.39$0.40$0.02
2020Detailed filing. Detailed filing data is available for this year.$3.01$0.05$2.96$0.40$0.41$0.01
2019Detailed filing. Detailed filing data is available for this year.$3.13$0.16$2.97$0.79$0.41$0.38
2018Detailed filing. Detailed filing data is available for this year.$2.67$0.08$2.59$1.31$0.37$0.95
2017Detailed filing. Detailed filing data is available for this year.$1.71$0.06$1.64$0.68$0.34$0.34
2016Detailed filing. Detailed filing data is available for this year.$1.35$0.06$1.30$0.50$0.29$0.21
2015Detailed filing. Detailed filing data is available for this year.$1.13$0.05$1.09$1.10$0.29$0.81
2014Detailed filing. Detailed filing data is available for this year.$0.33$0.05$0.28$0.42$0.23$0.19
2013Detailed filing. Detailed filing data is available for this year.$0.15$0.06$0.09$0.16$0.20$0.04
2012Summary only. Only limited summary data is available for this year.$0.15$0.02$0.13$0.13$0.11$0.03
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.11$0.01$0.10$0.11$0.10$0.01
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.14$0.04$0.10$0.10$0.09$0.01