Civic Intelligence

Enterprise Institute

990 • Fiscal year 2020 • EIN 71-0879071

Jan 01, 2020 to Dec 31, 2020 • Filed on May 03, 2021

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

41st percentile

0.02x

Higher debt load relative to assets than 41% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

44th percentile

0.03x

Higher debt load relative to revenue than 44% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Net Margin

71st percentile

20%

Higher net margin than 71% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

92nd percentile

$127,559

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 32.9% of source-year revenue.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Asset Growth

41st percentile

2.6%

Faster asset growth than 41% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

32nd percentile

-15%

Faster revenue growth than 32% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets41st percentile

Assets

Up

$797,456

Up $20,521 (+2.6%) from 2019

Net Assets

Up

$785,205

Up $78,850 (+11%) from 2019

Liabilities

Down

$12,251

Down $58,329 (-83%) from 2019

Revenue And Expenses
Liabilities / Revenue44th percentileNet Margin71st percentile

Revenue

Down

$387,190

Down $68,491 (-15%) from 2019

Expenses

Up

$308,340

Up $22,696 (+7.9%) from 2019

Net Income

Down

$78,850

Down $91,187 (-54%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth41st 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

2020

Assets$797,456
Liabilities$12,251
Net Assets$785,205
Open 2020 Filing

Operations Trend

Revenue Growth32nd 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

2020

Revenue$387,190
Expenses$308,340
Net Income$78,850
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
May 3, 2021
Return Version
2020v4.0
Gross Receipts
$387,190
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$658,263$635,806▼ $22,457
Cash and Non-Interest-Bearing Accounts$54,042$84,709▲ $30,667
Accounts Receivable$62,978$75,272▲ $12,294
Prepaid Expenses and Deferred Charges$342$306▼ $36
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$776,935$797,456▲ $20,521
Other Assets Total$1,310$1,363▲ $53
Liabilities
Deferred Revenue$58,333--
Accounts Payable and Accrued Expenses$12,247$12,251▲ $4
Total Liabilities$70,580$12,251▼ $58,329
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$706,355$785,205▲ $78,850
Total Net Assets Fund Balance$706,355$785,205▲ $78,850
Total Liabilities and Net Assets / Fund Balance$776,935$797,456▲ $20,521
Compensation and Service Providers
Top Officer Pay92nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Timothy WeelborgExec DirectorFT$113,925$13,634$127,559

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$218,833
Program Service Revenue
$165,745
Investment Income
$2,612
Other Revenue
$0
All Other Contributions
$146,833
Change in Net Assets
$78,850
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$227,035
Other Expenses$81,305
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$113,925--$113,925
Other Salaries and Wages$79,013--$79,013
Occupancy-$15,500-$15,500
Information Technology-$15,329-$15,329
Payroll Taxes$14,692--$14,692
Other Employee Benefits$10,560--$10,560
Office Expenses-$9,108-$9,108
Pension Plan Contributions$8,845--$8,845
Travel$8,683--$8,683
Fees for Services Accounting-$2,779-$2,779
Insurance-$550-$550
Other Expenses$182$2,506-$182
Total Functional Expenses$262,568$45,772$0$308,340
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
Tim Wheelborg
Title
Executive Director
Signed
2021-05-03
Discuss with paid preparer
Yes

Organization Details

Formed
2002
Legal Domicile
Sd
Voting Board Members
8
Independent Board Members
8
Employees
5

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.
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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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$797,456
Liabilities
$12,251
Net assets
$785,205
Revenue
$387,190
Expenses
$308,340
Net income
$78,850
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