Minneapolis Saint Paul Regional Economic Development Partnership

“Management prepares the form 990 with the assistance of its independent accounting firm. The finance and audit committee of the board reviews and approves the form 990. The form 990 is distributed to the board of directors for their review and comments prior to its submission.”

“The purpose of this conflict of interest policy (the "policy") is to protect the interests of the minneapolis st. Paul regional economic development partnership (the "corporation") when it is contemplating entering into a transaction or arrangement that might benefit the private interest of an officer or director of the corporation or might result in a possible excess benefit transaction. Any director, principal officer, or member of a committee with governing board delegated powers, who has a direct or indirect financial interest is an interested person. A person has a financial interest if the person has, directly or indirectly, through business, investment, or family: an ownership or investment interest in any entity with which the corporation has a transaction or arrangement, a compensation arrangement with the corporation or with any entity or individual with which the corporation has a transaction or arrangement, or a potential ownership or investment interest in, or compensation arrangement with, any entity or individual with which the corporation is negotiating a transaction or arrangement. Compensation includes direct and indirect remuneration as well as gifts or favors that are not insubstantial. In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of committees with governing board delegated powers considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the governing board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists. An interested person may make a presentation at the governing board or committee meeting, but after the presentation, he/she shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest. The chairperson of the governing board or committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the governing board or committee shall determine whether the corporation can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the governing board or committee shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in the corporation's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination it shall make its decision as to whether to enter into the transaction or arrangement. If the governing board or committee has reasonable cause to believe a member has failed to disclose actual or possible conflicts of interest, it shall inform the member of the basis for such belief and afford the member an opportunity to explain the alleged failure to disclose. If, after hearing the member's response and after making further investigation as warranted by the circumstances, the governing board or committee determines the member has failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action.”

“The compensation of the ceo is reviewed and approved by the executive committee of the board and the board of directors. The committee uses external market survey data and comparison information to determine compensation for the ceo. Greater msp uses external survey data and compensation information to determine compensation for all other employees of the organization. The decision is formalized and contemporaneously documented in an annual salary letter, signed by the chair of the greater msp board of directors. This process last took place july 15, 2024.”

“In 2024 greater msp made its governing documents, conflict of interest policy, and audited financial statements available to the public upon request in the same time and manner as other disclosures required under internal revenue code section 6104.”

“In 2024, greater msp executed the regional economic strategy with 50 projects across the enterprise. Over 1000 leaders from across the region actively participated. The results below are only a few highlights among dozens. Taken as a whole, the scale and breadth of accomplishments set an all-time high for our regional partnership and positions us for much bigger things in 2025. - together we won 21 nationally-competitive business expansion and attraction projects; new r&d facilities, smart manufacturing plants, hyperscale data centers bringing $1.5 billion in new, private investment into this region's economy and adding 2,280 new good jobs across the region. - we secured new direct routes from msp international airport to copenhagen and rome and brought a new transatlantic carrier lufthansa to minnesota, providing enhanced connectivity not only to europe, but also india and africa. - a team of minnesota-based corporate procurement leaders called business bridge spent $13 billion with small and medium sized businesses across the statea 19% increase over last yearincluding more than $800 million of spending with minority-owned firms. - we helped polar semiconductor advance their $525 million expansion and skywater technology's $200 million expansion in bloomington with awards from the u.s. Chips office and the state of minnesota through an effort called the minnesota chips coalition. - the minnesota saf hub secured a $5 billion investment for a new bio-refinery in moorhead that will produce 193 million gallons of jet fuel made from agricultural waste. Because of wins like this, minnesota is now recognized as having the world's most advanced effort to decarbonize air travelone of the world's hardest climate problems. - the minnesota saf hub achieved a major milestone with the first flight to leave msp airport fueled with saf - through forge north we trained dozens of new angel investors and connected hundreds via angel education programming and investment events while bringing new venture capital funds to minnesota, collectively catalyzing millions in new venture capital investments - through the itasca project's "catalyzing civic leadership" efforts, we facilitated critical conversations to address the region's pressing challenges and opportunities by bringing together over 300 regional leaders to explore innovative approaches to economic growth, equitable talent development, and civic engagement. - connextmsp partnered with ecmc group to launch the co-lab, a resource hub designed by and for young adults of color. - we won the public leadership award from u of mn humphrey school for contribution to the common good - we continued to add capability, growing our ability to act bigger, bolder and faster by building statewide economies anchored in the greater msp region, hosting 500+ collaborators and visitors in our new office, and working with over 250 leaders from 40 private, public, and nonprofit entities on medtech 3.0 - we welcomed and connected hundreds of summer interns from across the country at minnesota's top employers during the discover msp intern week with events across minneapolis, saint paul, and bloomington”

“Minneapolis saint paul regional economic development partnership's oversight and selection process has not changed from the prior tax year.”