Civic Intelligence

Enterprise Institute

990 • Fiscal year 2022 • EIN 71-0879071

Jan 01, 2022 to Dec 31, 2022 • Filed on May 09, 2023

Organization Profilewww.sdei.org
2301 Research Park Way 114Brookings, SD 57006

(605) 697-5015

Siviq Scores

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

Liabilities / Assets

61st percentile

0.05x

Higher debt load relative to assets than 61% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

72nd percentile

0.14x

Higher debt load relative to revenue than 72% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

13th percentile

-25%

Higher net margin than 13% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

94th percentile

$147,855

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 49.7% of source-year revenue.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Asset Growth

32nd percentile

-4.5%

Faster asset growth than 32% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

18th percentile

-22%

Faster revenue growth than 18% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets61st percentile

Assets

Down

$795,922

Down $37,621 (-4.5%) from 2021

Net Assets

Down

$753,513

Down $73,605 (-8.9%) from 2021

Liabilities

Up

$42,409

Up $35,984 (+560%) from 2021

Revenue And Expenses
Liabilities / Revenue72nd percentileNet Margin13th percentile

Revenue

Down

$297,693

Down $83,484 (-22%) from 2021

Expenses

Up

$371,298

Up $32,034 (+9.4%) from 2021

Net Income

Down

-$73,605

Down $115,518 (-276%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth32nd 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

2022

Assets$795,922
Liabilities$42,409
Net Assets$753,513
Open 2022 Filing

Operations Trend

Revenue Growth18th 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

2022

Revenue$297,693
Expenses$371,298
Net Income-$73,605
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 9, 2023
Return Version
2022v5.0
Gross Receipts
$297,693
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$700,584$652,146▼ $48,438
Accounts Receivable$44,517$75,410▲ $30,893
Cash and Non-Interest-Bearing Accounts$86,756$43,034▼ $43,722
Prepaid Expenses and Deferred Charges$306$306→ $0
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$833,543$795,922▼ $37,621
Other Assets Total$1,380$25,026▲ $23,646
Liabilities
Other Liabilities-$23,914-
Accounts Payable and Accrued Expenses$6,425$17,295▲ $10,870
Deferred Revenue-$1,200-
Total Liabilities$6,425$42,409▲ $35,984
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$827,118$753,513▼ $73,605
Total Net Assets Fund Balance$827,118$753,513▼ $73,605
Total Liabilities and Net Assets / Fund Balance$833,543$795,922▼ $37,621
Compensation and Service Providers
Top Officer Pay94th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Tom EitreimExecutive DirectorFT$137,000$10,855$147,855

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$125,500
Program Service Revenue
$170,601
Investment Income
$1,592
Other Revenue
$0
All Other Contributions
$53,500
Change in Net Assets
$-73,605
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$288,751
Other Expenses$82,547
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$137,000--$137,000
Other Salaries and Wages$112,055--$112,055
Payroll Taxes$18,384--$18,384
Information Technology-$13,461-$13,461
Travel$13,288--$13,288
Occupancy-$12,422-$12,422
Pension Plan Contributions$11,917--$11,917
Other Employee Benefits$9,395--$9,395
Office Expenses-$7,809-$7,809
Fees for Services Accounting-$7,707-$7,707
Insurance-$632-$632
Other Expenses$27,043$185-$185
Total Functional Expenses$329,082$42,216$0$371,298
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-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Liability$23,914
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, Section B, Line 11B

“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, Section B, Line 12C

“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, Section B, Line 15A

“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, Section C, Line 18

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

Form 990, Part VI, Section C, Line 19

“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 114, Brookings, SD 57006

Signing Officer

Name
Tom Eitreim
Title
Executive Director
Signed
2023-05-09
Discuss with paid preparer
Yes

Organization Details

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

Preparer

Firm
Kinner & Company Ltd
Address
404 3rd Ave PO Box 690, Brookings, SD 57006
Preparer
Nathan Kinner
Phone
8006922515
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1108565
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1108565
IRS990/ProgSrvcAccomActy2Grp/Desc0The Enterprise Institute contracts with the South Dakota Small Business Development Center to offer confidential and free business consulting services to individuals and businesses looking to start or expand a business in Brookings County. The Institute also offers research support to the entire South Dakota Small Business Development Center in South Dakota.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0147057
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0108000
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.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt027043
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt062036
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IRS990/PYContributionsGrantsAmt0128620
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IRS990/PYRevenuesLessExpensesAmt041913
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IRS990/PYTotalExpensesAmt0339264
IRS990/PYTotalRevenueAmt0381177
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IRS990/ReconcilationRevenueExpnssAmt0-73605
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IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0108565
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0700584
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0652146
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearAmt017500
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus1YearAmt017500
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus2YearsAmt017500
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus3YearsAmt017500
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus4YearsAmt017500
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt087500
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0125500
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0128620
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0218833
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0199668
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0200931
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0873552
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt07336
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt03026
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0170601
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0165745
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0248677
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0174519
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01010455
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt02612
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt07336
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IRS990ScheduleA/InvestmentIncomeCYPct00.00850
IRS990ScheduleA/InvestmentIncomePYPct00.00770
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IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus2YearsAmt017500
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus3YearsAmt017500
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus4YearsAmt017500
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt087500
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IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01900217
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IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
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, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, Line 19

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$795,922
Liabilities
$42,409
Net assets
$753,513
Revenue
$297,693
Expenses
$371,298
Net income
-$73,605
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
Peer Organizations

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