Civic Intelligence

Enterprise Institute

990 • Fiscal year 2019 • EIN 71-0879071

Jan 01, 2019 to Dec 31, 2019 • Filed on May 06, 2020

Organization Profilewww.sdei.org
2301 Research Park WayBrookings, SD 57006

(605) 697-5015

Siviq Scores

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

Liabilities / Assets

63rd percentile

0.09x

Higher debt load relative to assets than 63% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

73rd percentile

0.15x

Higher debt load relative to revenue than 73% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Net Margin

87th percentile

37%

Higher net margin than 87% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

92nd percentile

$124,504

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 27.3% of source-year revenue.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Asset Growth

81st percentile

26%

Faster asset growth than 81% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

72nd percentile

20%

Faster revenue growth than 72% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets63rd percentile

Assets

Up

$776,935

Up $158,303 (+26%) from 2018

Net Assets

Up

$706,355

Up $170,037 (+32%) from 2018

Liabilities

Down

$70,580

Down $11,734 (-14%) from 2018

Revenue And Expenses
Liabilities / Revenue73rd percentileNet Margin87th percentile

Revenue

Up

$455,681

Up $77,205 (+20%) from 2018

Expenses

Up

$285,644

Up $19,798 (+7.4%) from 2018

Net Income

Up

$170,037

Up $57,407 (+51%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth81st percentile

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

$1.0M$500K$0-$500KAssets 2011: $176,391Liabilities 2011: $492,702Net Assets 2011: -$316,3112011Assets 2012: $227,617Liabilities 2012: $467,492Net Assets 2012: -$239,8752012Assets 2013: $233,997Liabilities 2013: $444,394Net Assets 2013: -$210,3972013Assets 2014: $214,447Liabilities 2014: $423,344Net Assets 2014: -$208,8972014Assets 2015: $307,101Liabilities 2015: $440,262Net Assets 2015: -$133,1612015Assets 2016: $425,774Liabilities 2016: $80,785Net Assets 2016: $344,9892016Assets 2017: $509,170Liabilities 2017: $77,439Net Assets 2017: $431,7312017Assets 2018: $618,632Liabilities 2018: $82,314Net Assets 2018: $536,3182018Assets 2019: $776,935Liabilities 2019: $70,580Net Assets 2019: $706,3552019Assets 2020: $797,456Liabilities 2020: $12,251Net Assets 2020: $785,2052020Assets 2021: $833,543Liabilities 2021: $6,425Net Assets 2021: $827,1182021Assets 2022: $795,922Liabilities 2022: $42,409Net Assets 2022: $753,5132022Assets 2023: $788,824Liabilities 2023: $32,199Net Assets 2023: $756,6252023Assets 2024: $842,490Liabilities 2024: $28,153Net Assets 2024: $814,3372024

Highlighted filing

2019

Assets$776,935
Liabilities$70,580
Net Assets$706,355
Open 2019 Filing

Operations Trend

Revenue Growth72nd percentile

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

$800K$600K$400K$200K$0-$200KRevenue 2011: $263,854Expenses 2011: $189,564Net Income 2011: $74,2902011Revenue 2012: $306,034Expenses 2012: $229,598Net Income 2012: $76,4362012Revenue 2013: $284,747Expenses 2013: $255,269Net Income 2013: $29,4782013Revenue 2014: $270,689Expenses 2014: $269,190Net Income 2014: $1,4992014Revenue 2015: $370,249Expenses 2015: $294,513Net Income 2015: $75,7362015Revenue 2016: $631,838Expenses 2016: $283,215Net Income 2016: $348,6232016Revenue 2017: $359,054Expenses 2017: $272,312Net Income 2017: $86,7422017Revenue 2018: $378,476Expenses 2018: $265,846Net Income 2018: $112,6302018Revenue 2019: $455,681Expenses 2019: $285,644Net Income 2019: $170,0372019Revenue 2020: $387,190Expenses 2020: $308,340Net Income 2020: $78,8502020Revenue 2021: $381,177Expenses 2021: $339,264Net Income 2021: $41,9132021Revenue 2022: $297,693Expenses 2022: $371,298Net Income 2022: -$73,6052022Revenue 2023: $231,030Expenses 2023: $227,918Net Income 2023: $3,1122023Revenue 2024: $311,104Expenses 2024: $253,392Net Income 2024: $57,7122024

Highlighted filing

2019

Revenue$455,681
Expenses$285,644
Net Income$170,037
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
May 6, 2020
Return Version
2019v5.0
Gross Receipts
$455,681
Mission and Program Overview

Mission

To support and enhance educational, commercialization, research and business development opportunities for faculty and students at educational institutions within the state of South Dakota in partnership with industry by facilitating outreach, educational events, and technical assistance; to assist the economic development of South Dakota through encouragement of and assistance to the entrepreneurial enterprises.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$511,039$658,263▲ $147,224
Accounts Receivable$61,722$62,978▲ $1,256
Cash and Non-Interest-Bearing Accounts$44,243$54,042▲ $9,799
Prepaid Expenses and Deferred Charges$318$342▲ $24
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$618,632$776,935▲ $158,303
Other Assets Total$1,310$1,310→ $0
Liabilities
Deferred Revenue$62,500$58,333▼ $4,167
Accounts Payable and Accrued Expenses$19,814$12,247▼ $7,567
Total Liabilities$82,314$70,580▼ $11,734
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$536,318$706,355▲ $170,037
Total Net Assets Fund Balance$536,318$706,355▲ $170,037
Total Liabilities and Net Assets / Fund Balance$618,632$776,935▲ $158,303
Compensation and Service Providers
Top Officer Pay92nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Timothy WeelborgExec DirectorFT$105,506$18,998$124,504

Board Members and Trustees

NameTitle
Duane SanderChairman
Al KurtenbachVice Chair
Andrew JohnsonDirector
Brad WheelerDirector
Ed CannonDirector
Errol EerNisseDirector
Jerry LohrDirector
Jim MorganDirector
Keith BartelsSec/Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$199,668
Program Service Revenue
$248,677
Investment Income
$7,336
Other Revenue
$0
All Other Contributions
$127,668
Change in Net Assets
$170,037
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$202,126
Other Expenses$83,518
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$105,506--$105,506
Other Salaries and Wages$66,875--$66,875
Travel$16,014--$16,014
Occupancy-$13,854-$13,854
Payroll Taxes$13,380--$13,380
Office Expenses-$11,560-$11,560
Other Employee Benefits$9,249--$9,249
Fees for Services Legal-$7,953-$7,953
Information Technology-$7,460-$7,460
Pension Plan Contributions$7,116--$7,116
Fees for Services Accounting-$2,002-$2,002
Other Expenses$660$2,061-$660
Insurance-$550-$550
Advertising-$200-$200
Total Functional Expenses$240,004$45,640$0$285,644
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
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
Yes
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“The Executive Director of the Enterprise Institute sends all directors of the board a copy of the 990. The board will review the document at the next scheduled board meeting.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“All conflicts are reported to the Executive Director. The Executive Director then follows the organizational procedures and processes that are appropriate based on the organization's discretion.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“The Executive Director's compensation is determined by the executive committee and approved by the board of directors annually through the budget approval process. The Executive Director determines compensation for other employees based on budgeted amounts and budget approval by the board of directors.”

Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection

“The organization's governing documents, conflicts of interest policy, and annual financial statements are available upon request.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Enterprise Institute
EIN
71-0879071
Phone
6056975015
Address
2301 Research Park Way, Brookings, SD 57006

Signing Officer

Name
Al Kurtenbach
Title
Vice Chair
Signed
2020-05-06
Discuss with paid preparer
Yes

Organization Details

Formed
2002
Legal Domicile
Sd
Voting Board Members
9
Independent Board Members
9
Employees
6

Preparer

Firm
Kinner & Company Ltd
Address
404 3rd Ave PO Box 690, Brookings, SD 57006
Preparer
Nathan Kinner
Phone
6056922515
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IRS990/ProgSrvcAccomActy2Grp/Desc0Business Resource Center - The Enterprise Institute provides confidential business consulting services for independent inventors, researchers, and high-growth entrepreneurs in our region.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt070130
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0122953
IRS990/ProgSrvcAccomActy3Grp/Desc0The Innovation Expo is an entrepreneurship conference where we celebrate the inventors, entrepreneurs, and investors who grow new technologies and businesses in our region. The event features keynote speaker presentations, panel discussions, educational sessions and also networking opportunities.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Executive Director of the Enterprise Institute sends all directors of the board a copy of the 990. The board will review the document at the next scheduled board meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1All conflicts are reported to the Executive Director. The Executive Director then follows the organizational procedures and processes that are appropriate based on the organization's discretion.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Executive Director's compensation is determined by the executive committee and approved by the board of directors annually through the budget approval process. The Executive Director determines compensation for other employees based on budgeted amounts and budget approval by the board of directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The organization's governing documents, conflicts of interest policy, and annual financial statements are available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$776,935
Liabilities
$70,580
Net assets
$706,355
Revenue
$455,681
Expenses
$285,644
Net income
$170,037
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$8.42$0.28$8.14$3.11$2.53$0.58
2023Detailed filing. Detailed filing data is available for this year.$7.89$0.32$7.57$2.31$2.28$0.03
2022Detailed filing. Detailed filing data is available for this year.$7.96$0.42$7.54$2.98$3.71$0.74
2021Detailed filing. Detailed filing data is available for this year.$8.34$0.06$8.27$3.81$3.39$0.42
2020Detailed filing. Detailed filing data is available for this year.$7.97$0.12$7.85$3.87$3.08$0.79
2019Detailed filing. Detailed filing data is available for this year.$7.77$0.71$7.06$4.56$2.86$1.70
2018Summary only. Only limited summary data is available for this year.$6.19$0.82$5.36$3.78$2.66$1.13
2017Summary only. Only limited summary data is available for this year.$5.09$0.77$4.32$3.59$2.72$0.87
2016Summary only. Only limited summary data is available for this year.$4.26$0.81$3.45$6.32$2.83$3.49
2015Summary only. Only limited summary data is available for this year.$3.07$4.40$1.33$3.70$2.95$0.76
2014Summary only. Only limited summary data is available for this year.$2.14$4.23$2.09$2.71$2.69$0.01
2013Summary only. Only limited summary data is available for this year.$2.34$4.44$2.10$2.85$2.55$0.29
2012Summary only. Only limited summary data is available for this year.$2.28$4.67$2.40$3.06$2.30$0.76
2011Summary only. Only limited summary data is available for this year.$1.76$4.93$3.16$2.64$1.90$0.74