Civic Intelligence

Experience Sioux Falls

990 • Fiscal year 2024 • EIN 87-3484216

Jan 01, 2024 to Dec 31, 2024 • Filed on Nov 14, 2025

200 N Phillips Ave Ste 102Sioux Falls, SD 57104

(605) 275-6060

Siviq Scores

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

Liabilities / Assets

37th percentile

0.13x

Higher debt load relative to assets than 37% of similar nonprofits.

2024 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

36th percentile

0.19x

Higher debt load relative to revenue than 36% of similar nonprofits.

2024 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2024

Net Margin

62nd percentile

8.4%

Higher net margin than 62% of similar nonprofits.

2024 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

28th percentile

$191,039

Higher top officer pay than 28% of similar nonprofits.

Top officer pay equals 4.9% of source-year revenue.

2024 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2024

Asset Growth

66th percentile

9.8%

Faster asset growth than 66% of similar nonprofits.

2024 filings • 501(c)6 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

37th percentile

3.6%

Faster revenue growth than 37% of similar nonprofits.

2024 filings • 501(c)6 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Assets

Up

$5,831,812

Up $519,316 (+9.8%) from 2023

Net Assets

Up

$5,096,266

Up $432,737 (+9.3%) from 2023

Liabilities

Up

$735,546

Up $86,579 (+13%) from 2023

Revenue

Up

$3,907,843

Up $134,842 (+3.6%) from 2023

Expenses

Up

$3,581,266

Up $155,098 (+4.5%) from 2023

Net Income

Down

$326,577

Down $20,256 (-5.8%) from 2023

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2022: $4,763,755Liabilities 2022: $669,424Net Assets 2022: $4,094,3312022Assets 2023: $5,312,496Liabilities 2023: $648,967Net Assets 2023: $4,663,5292023Assets 2024: $5,831,812Liabilities 2024: $735,546Net Assets 2024: $5,096,2662024

Highlighted filing

2024

Assets$5,831,812
Liabilities$735,546
Net Assets$5,096,266

Operations Trend

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

$6.0M$4.0M$2.0M$0Revenue 2022: $5,111,861Expenses 2022: $1,003,834Net Income 2022: $4,108,0272022Revenue 2023: $3,773,001Expenses 2023: $3,426,168Net Income 2023: $346,8332023Revenue 2024: $3,907,843Expenses 2024: $3,581,266Net Income 2024: $326,5772024

Highlighted filing

2024

Revenue$3,907,843
Expenses$3,581,266
Net Income$326,577
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 14, 2025
Return Version
2024v5.0
Gross Receipts
$4,535,492
Mission and Program Overview

Mission

Experience sioux falls works with strategic partners to market sioux falls, south dakota, develop tourism, and strengthen events providing positive economic impact to the sioux falls community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$2,116,397$2,541,246▲ $424,849
Investments in Publicly Traded Securities$1,886,235$2,084,375▲ $198,140
Accounts Receivable$455,114$512,310▲ $57,196
Prepaid Expenses and Deferred Charges$183,510$173,299▼ $10,211
Land, Buildings, and Equipment, Net$127,000$103,895▼ $23,105
Inventories for Sale or Use$113,900$103,068▼ $10,832
Total Assets$5,312,496$5,831,812▲ $519,316
Other Assets Total$430,340$313,619▼ $116,721
Liabilities
Accounts Payable and Accrued Expenses$215,113$421,177▲ $206,064
Other Liabilities$433,854$313,469▼ $120,385
Deferred Revenue-$900-
Total Liabilities$648,967$735,546▲ $86,579
Net Assets / Fund Balance
Net Assets With Donor Restrictions$4,663,529$5,096,266▲ $432,737
Total Net Assets Fund Balance$4,663,529$5,096,266▲ $432,737
Total Liabilities and Net Assets / Fund Balance$5,312,496$5,831,812▲ $519,316

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$87,128$533,535$620,663
Leasehold Improvements$16,767$107,950$124,717
Other Assets Org$3,595--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Teri SchmidtCEOFT$171,575$19,464$191,039

Board Members and Trustees

NameTitle
Janet GrunewaldtChairperson
Frank GurnickVice Chairpe
Tom MorrisVice Chairpe
Audrey Otto-pepperDirector
Bethany BuitenbosDirector
Bryan AhlersDirector
Nancy SavageDirector
Paul HeggDirector
Riccardo TarabelsiDirector
Shailesh PatelDirector
Shawn PrichettCity of Siou
Amy SmolikSecretary/tr
Christine BruningSecretary/tr

Highest Paid Contractors

ContractorServicesLocationCompensation
Click RainMarketing217 N NESMITH AVE, Sioux Falls, SD 57103$183,118
Monarch Sales Company INCBranding701 E 52ND ST, Sioux Falls, SD 57104$111,412
Revenue and Support

Revenue Composition

Contributions and Grants
$223,000
Program Service Revenue
$3,563,361
Investment Income
$107,369
Other Revenue
$14,113
Change in Net Assets
$326,577
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,364,480
Salaries, Compensation, and Employee Benefits$1,216,786
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Advertising---$1,480,443
Other Salaries and Wages---$814,010
Current Officers, Directors, Trustees, and Key Employees---$172,996
Office Expenses---$171,128
Occupancy---$167,325
Information Technology---$164,976
Other Employee Benefits---$99,850
Conferences and Meetings---$98,988
Depreciation Depletion---$81,484
Payroll Taxes---$76,966
Travel---$60,709
Fees for Services Accounting---$55,297
Pension Plan Contributions---$52,964
Insurance---$11,776
Fees for Service Investment Mgmnt Fees---$7,412
Other Expenses---$5,000
All Other Expenses---$4,026
Total Functional Expenses$0$0$0$3,581,266
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$83,380
Fundraising Gross Income$53,625
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Luncheon$53,625$53,625$55,662$-2,037
Total Events$53,625$53,625$83,380$-29,755
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Liabilities$313,469
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 1A

The executive committee shall consist of the chairperson, vice-chairperson, immediate past chairperson and secretary/treasurer. The ceo shall be an ex-officio member of the executive committee. The executive committee shall exercise the powers of the board of directors in the interim between regular meetings of the board of directors and make recommendations to the board of directors.

Form 990, Page 6, Part VI, Line 7A

A nominating committee shall be appointed by the board of directors and consist of five (5) individuals. The vice-chairperson will serve as chair of the nominating committee. The immediate past-chairperson shall serve on the nominating committee. The chairperson shall appoint the remaining members of the nominating committee. The ceo shall serve as an ex-officio member of the nominating committee. The nominating committee shall, annually, recommend a slate of nominees to the board of directors. The final approval and election of the new directors shall be made by the board of directors at the annual meeting. Any vacancy occurring in the board of directors may be filled by the affirmative vote of a majority of the remaining directors. A director elected to fill a vacancy shall be elected for the unexpired term of his or her predecessor in office.

Form 990, Page 6, Part VI, Line 11B

A copy of the return is provided to each member of the board of directors. The preparer is available for questions or comments.

Form 990, Page 6, Part VI, Line 15A

Ceo compensation is annually approved by the board of directors.

Form 990, Page 6, Part VI, Line 19

No documents available to the public

Filing and Contact Details

Filer

Filer Name
Experience Sioux Falls
EIN
87-3484216
Phone
6052756060
Address
200 N PHILLIPS AVE STE 102, SIOUX FALLS, SD 57104

Signing Officer

Name
Teri Schmidt
Title
CEO
Phone
6052756060
Signed
2025-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Teri Schmidt
Formed
2020
Legal Domicile
Sd
Voting Board Members
8
Independent Board Members
8
Employees
41
Volunteers
76

Preparer

Firm
Solution CPA
Address
5011 E ROSA PARKS PL, SIOUX FALLS, SD 57110
Preparer
Michael L Schelling CPA
Phone
6054809500
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4A

Experience sioux falls, formerly the sioux falls convention and visitors bureau, is funded by two sources. When the organization was created in the early 70's, the city agreed to fund the group through a 1% room tax plus 500,000 from the general fund. This room rax was collected from all sioux falls hotels and directed to the organization. In 2011, a bid (business improvement district) was formed by sioux falls hotels, in cooperation with the city of sioux falls, to further fund experience sioux falls for the purpose of remaining competitive in sales and marketing. The bid became effective on january 1, 2011, via city ordinance and is collected from all hotels with 40+ rooms in the city limits of sioux falls. It was at this time that the 500,000 was no longer provided to experience sioux falls. Experience sioux falls (esf) - formerly known as convention & visitors bureau (cvb), exists to bring visitors to sioux falls to create economic impact throughout the city, i.e.: hotel room tax, sales tax, and jobs. In 2024, esf booked 111 conventions, meetings, and events involving 55,633 people. Esf distributed 76,489 visitor guides via mail, direct mail, reader response, downloads, and online views to leisure travelers across the united states, as well as distributed locally to approximately 200 locations in sioux falls. In 2024, the total number of visitors to sioux falls estimated by esf is 1,117,647. Esf serviced 56 conventions, meetings and events involving 187,767 people. Esf prints publications such as sioux falls visitor guide (130,000). Esf travels nationwide making sales calls and bid presentations to bring new business to the city. Digital and print sales and marketing programs are completed to advertise the city throughout the country. The visitor information center at falls park is also managed by esf.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EXPERIENCE SIOUX FALLS, FORMERLY THE SIOUX FALLS CONVENTION AND VISITORS BUREAU, IS FUNDED BY TWO SOURCES. WHEN THE ORGANIZATION WAS CREATED IN THE EARLY 70'S, THE CITY AGREED TO FUND THE GROUP THROUGH A 1% ROOM TAX PLUS 500,000 FROM THE GENERAL FUND. THIS ROOM RAX WAS COLLECTED FROM ALL SIOUX FALLS HOTELS AND DIRECTED TO THE ORGANIZATION. IN 2011, A BID (BUSINESS IMPROVEMENT DISTRICT) WAS FORMED BY SIOUX FALLS HOTELS, IN COOPERATION WITH THE CITY OF SIOUX FALLS, TO FURTHER FUND EXPERIENCE SIOUX FALLS FOR THE PURPOSE OF REMAINING COMPETITIVE IN SALES AND MARKETING. THE BID BECAME EFFECTIVE ON JANUARY 1, 2011, VIA CITY ORDINANCE AND IS COLLECTED FROM ALL HOTELS WITH 40+ ROOMS IN THE CITY LIMITS OF SIOUX FALLS. IT WAS AT THIS TIME THAT THE 500,000 WAS NO LONGER PROVIDED TO EXPERIENCE SIOUX FALLS. EXPERIENCE SIOUX FALLS (ESF) - FORMERLY KNOWN AS CONVENTION & VISITORS BUREAU (CVB), EXISTS TO BRING VISITORS TO SIOUX FALLS TO CREATE ECONOMIC IMPACT THROUGHOUT THE CITY, I.E.: HOTEL ROOM TAX, SALES TAX, AND JOBS. IN 2024, ESF BOOKED 111 CONVENTIONS, MEETINGS, AND EVENTS INVOLVING 55,633 PEOPLE. ESF DISTRIBUTED 76,489 VISITOR GUIDES VIA MAIL, DIRECT MAIL, READER RESPONSE, DOWNLOADS, AND ONLINE VIEWS TO LEISURE TRAVELERS ACROSS THE UNITED STATES, AS WELL AS DISTRIBUTED LOCALLY TO APPROXIMATELY 200 LOCATIONS IN SIOUX FALLS. IN 2024, THE TOTAL NUMBER OF VISITORS TO SIOUX FALLS ESTIMATED BY ESF IS 1,117,647. ESF SERVICED 56 CONVENTIONS, MEETINGS AND EVENTS INVOLVING 187,767 PEOPLE. ESF PRINTS PUBLICATIONS SUCH AS SIOUX FALLS VISITOR GUIDE (130,000). ESF TRAVELS NATIONWIDE MAKING SALES CALLS AND BID PRESENTATIONS TO BRING NEW BUSINESS TO THE CITY. DIGITAL AND PRINT SALES AND MARKETING PROGRAMS ARE COMPLETED TO ADVERTISE THE CITY THROUGHOUT THE COUNTRY. THE VISITOR INFORMATION CENTER AT FALLS PARK IS ALSO MANAGED BY ESF.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE EXECUTIVE COMMITTEE SHALL CONSIST OF THE CHAIRPERSON, VICE-CHAIRPERSON, IMMEDIATE PAST CHAIRPERSON AND SECRETARY/TREASURER. THE CEO SHALL BE AN EX-OFFICIO MEMBER OF THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE SHALL EXERCISE THE POWERS OF THE BOARD OF DIRECTORS IN THE INTERIM BETWEEN REGULAR MEETINGS OF THE BOARD OF DIRECTORS AND MAKE RECOMMENDATIONS TO THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A NOMINATING COMMITTEE SHALL BE APPOINTED BY THE BOARD OF DIRECTORS AND CONSIST OF FIVE (5) INDIVIDUALS. THE VICE-CHAIRPERSON WILL SERVE AS CHAIR OF THE NOMINATING COMMITTEE. THE IMMEDIATE PAST-CHAIRPERSON SHALL SERVE ON THE NOMINATING COMMITTEE. THE CHAIRPERSON SHALL APPOINT THE REMAINING MEMBERS OF THE NOMINATING COMMITTEE. THE CEO SHALL SERVE AS AN EX-OFFICIO MEMBER OF THE NOMINATING COMMITTEE. THE NOMINATING COMMITTEE SHALL, ANNUALLY, RECOMMEND A SLATE OF NOMINEES TO THE BOARD OF DIRECTORS. THE FINAL APPROVAL AND ELECTION OF THE NEW DIRECTORS SHALL BE MADE BY THE BOARD OF DIRECTORS AT THE ANNUAL MEETING. ANY VACANCY OCCURRING IN THE BOARD OF DIRECTORS MAY BE FILLED BY THE AFFIRMATIVE VOTE OF A MAJORITY OF THE REMAINING DIRECTORS. A DIRECTOR ELECTED TO FILL A VACANCY SHALL BE ELECTED FOR THE UNEXPIRED TERM OF HIS OR HER PREDECESSOR IN OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A COPY OF THE RETURN IS PROVIDED TO EACH MEMBER OF THE BOARD OF DIRECTORS. THE PREPARER IS AVAILABLE FOR QUESTIONS OR COMMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CEO COMPENSATION IS ANNUALLY APPROVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4A
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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