2023-11-13T08:22:43-06:00 2022-12-31 420714325 RSM US LLP 227 WEST FIRST STREET SUITE 700 DULUTH MN 55802 990 2022-01-01 274026636 MINNEAPOLIS SAINT PAUL REGIONAL ECONOMIC DEVELOPMENT PARTNERSHIP MINN 6512871365 400 ROBERT ST NORTH 1600 SAINT PAUL MN 55101 PETER FROSCH PRESIDENT AND CEO 6512871365 2023-11-10 1 PETER FROSCH 999009999 0 JULIE BOYER P01278549 2187275025 2023-11-10 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z GREATER MSP PETER FROSCH 400 ROBERT ST NORTH 1600 SAINT PAUL MN 55101 6796435 0 X WWW.GREATERMSP.ORG X 2010 MN THE MISSION OF THE GREATER MSP PARTNERSHIP IS TO ACCELERATE REGIONAL COMPETITIVENESS AND INCLUSIVE ECONOMIC GROWTH THROUGH JOB CREATION, CAPITAL INVESTMENT AND EXECUTION OF STRATEGIC INITIATIVES. THE PARTNERSHIP WORKS TO STRENGTHEN OUR REGION'S GLOBAL SECTORS, PRIORITIZE TALENT, AND TELL OUR STORY. 43 42 27 550 0 0 6501903 6786205 0 0 243 10230 0 0 6502146 6796435 0 130183 0 0 3868092 3897476 0 0 85429 2491742 2862966 6359834 6890625 142312 -94190 5371081 5387494 889737 1000340 4481344 4387154 X THE MISSION OF THE GREATER MSP PARTNERSHIP IS TO ACCELERATE REGIONAL COMPETITIVENESS AND INCLUSIVE ECONOMIC GROWTH THROUGH JOB CREATION, CAPITAL INVESTMENT AND EXECUTION OF STRATEGIC INITIATIVES. THE PARTNERSHIP WORKS TO STRENGTHEN OUR REGION'S GLOBAL SECTORS, PRIORITIZE TALENT, AND TELL OUR STORY. 0 0 5368530 130183 GREATER MSP PARTNERSHIP WAS CREATED A DECADE AGO TO BE A SHARED SPACE WHERE LEADERS AND ORGANIZATIONS OF ALL TYPES COULD COME TOGETHER AND BUILD THE ECONOMY FOR THE BENEFIT OF THE RESIDENTS OF THIS REGION. WE ARE REALIZING THIS VISION AS A CROSS-SECTOR, WORKING PARTNERSHIP THAT TOUCHES EVERY CORNER OF THE 15-COUNTY MINNEAPOLISSAINT PAUL METRO. THIS PARTNERSHIP INVOLVES MORE THAN 4,500 INDIVIDUALS FROM OVER 350 LEADING COMPANIES, CITIES, COUNTIES, FOUNDATIONS AND UNIVERSITIES, WORKING TOGETHER TO ACCELERATE GLOBAL COMPETITIVENESS AND INCLUSIVE ECONOMIC GROWTH IN MINNEAPOLISSAINT PAUL. OVER 120 OF THESE PARTICIPATING ORGANIZATIONS INVEST FINANCIALLY, WITH DOZENS MORE INVESTING THEIR TIME AND ALIGNING THEIR RESOURCES BEHIND EXECUTION OF THE REGIONAL STRATEGY. GREATER MSP IS A LARGE AND GROWING WORKING PARTNERSHIP OF COMMUNITY AND BUSINESS LEADERS AND ORGANIZATIONS FROM ACROSS THE REGION. TOGETHER, WE SHAPE AND EXECUTE A SHARED REGIONAL ECONOMIC DEVELOPMENT STRATEGY FOCUSED ON: JOB GROWTH, STARTUPS & INNOVATION, TALENT MIGRATION, RACIAL INCLUSION, SKILLS & WORKFORCE, REGIONAL IMAGE, AFFORDABILITY, TRANSPORTATION & MOBILITY, AND NEW CLIMATE ECONOMY. THIS STRATEGY SUPPORTS US AS WE EXECUTE ON OUR VISION FOR THE MINNEAPOLIS-SAINT PAUL REGION TO LEAD THE WORLD IN INCLUSIVE ECONOMIC GROWTH BY WELCOMING ALL, EMPOWERING TALENT AND IGNITING INNOVATION. GREATER MSP HAS BECOME A LARGE AND DIVERSE ECOSYSTEM OF ORGANIZATIONS BUILDING INNOVATIVE SOLUTIONS, SETTING AUDACIOUS LONG-TERM AMBITIONS AND BREAKING THROUGH LONGSTANDING BOUNDARIES BY HARNESSING THE POWER OF CROSS-SECTOR COLLABORATION. STAFF OF THE ORGANIZATION SUPPORT THE PARTNERSHIP IN EXECUTING THIS STRATEGY BY SUPPORTING PLATFORMS FOR BUSINESS INVESTMENT, MSP STORYTELLING, AND STRATEGIC INITIATIVES THAT ARE SUPPORTED BY A RESEARCH & INTELLIGENCE DEPARTMENT. THE GREATER MSP PARTNERSHIP HAS DEMONSTRATED THE CAPABILITY OF GENERATING SIGNIFICANT ECONOMIC OPPORTUNITY FOR PEOPLE IN THE REGION. GREATER MSP HAS BEEN BUILDING ON OUR ORIGINAL SCOPE TO ENSURE THAT EVERY MEMBER OF OUR COMMUNITY CAN ACCESS GOOD JOBS AND ECONOMIC OPPORTUNITY. THIS EMPHASIS ON INCLUSIVE GROWTH HAS POWERED AN EXPANSION IN GREATER MSP'S SCOPE, CAPACITY AND BREADTH OF PARTICIPANTS. A DECADE OF DATA POINT TO TWO CHIEF CHALLENGES FOR THE REGION: ADVANCING RACIAL EQUITY AND ACCELERATING THE GROWTH OF QUALITY JOBS. GREATER MSP RECOGNIZES THESE CHALLENGES AS INTERDEPENDENT AND IS COMMITTED TO INVESTING IN EQUITY AS A GROWTH SOLUTION. THE VISION, MISSION AND VALUES FOR THE GREATER MSP REGION AND PARTNERSHIP INCLUDE:REGIONAL VISIONTHE GREATER MSP REGION LEADS THE WORLD IN INCLUSIVE ECONOMIC GROWTH BY WELCOMING ALL, EMPOWERING TALENT AND IGNITING INNOVATION.PARTNERSHIP MISSIONTHE GREATER MSP PARTNERSHIP WILL ACCELERATE REGIONAL COMPETITIVENESS AND INCLUSIVE ECONOMIC GROWTH THROUGH JOB CREATION, CAPITAL INVESTMENT AND THE EXECUTION OF STRATEGIC INITIATIVES.PARTNERSHIP VALUESACCOUNTABILITY | ALIGNMENT | INCLUSION | INNOVATION | TRANSPARENCY GREATER MSP IS HOW LEADERS AND ORGANIZATIONS COME TOGETHER TO TAKE ACTION AND DRIVE OUR ECONOMY FORWARD. BY ALL MEASURES, 2022 WAS A YEAR OF PRODUCTIVITY, INNOVATION AND SUCCESS. THANKS TO THE WORK OF OUR PARTNERSHIP, NOT JUST OUR STAFF, BUT THE ENTIRE COALITION, WE EXECUTED 49 PROJECTS ACROSS THE ENTERPRISE IN PURSUIT OF OUR MISSION TO ADVANCE INCLUSIVE ECONOMIC GROWTH AND THE REGION'S GLOBAL COMPETITIVENESS. OVER 550 LEADERS FROM ACROSS THE REGION PARTICIPATED ACTIVELY IN THIS WORK. BELOW ARE JUST SOME HIGHLIGHTS ACROSS OUR PLATFORMS AND INITIATIVES.BUSINESS INVESTMENTBUSINESS INVESTMENT HELPS EXISTING EMPLOYERS EXPAND THEIR OPERATIONS WHILE ATTRACTING NEW COMPANIES TO LOCATE, INVEST AND CREATE JOBS IN THE GREATER MSP REGION. AS A RESULT OF OUR EFFORTS, AND WORKING IN CONCERT WITH OUR REGIONAL PARTNERS, WE SUCCESSFULLY COMPLETED 11 PROJECTS THAT RESULTED IN 1,464 JOBS. IN ADDITION, THE REGION BENEFITED FROM OVER $173 MILLION IN NEW CAPITAL INVESTMENT IN NEW/EXPANDED BUSINESS LOCATIONS.RESEARCH & INTELLIGENCEGREATER MSP IS THE REGIONAL SOURCE OF TRUSTED, UNBIASED DATA ON THE REGIONAL ECONOMY. DATA, ANALYTICS AND INTELLIGENCE ARE INTEGRATED AND LEVERAGED TO DELIVER HIGH-VALUE INSIGHTS THAT DRIVE THE DEVELOPMENT OF REGIONAL STRATEGY, ENABLING THE PARTNERSHIP TO LEAD GLOBALLY IN AN INCREASINGLY COMPLEX ECONOMIC LANDSCAPE. OUR RESEARCH AND INTELLIGENCE PLATFORM CREATES THE ECONOMIC DATA AND INSIGHTS, LIKE THE MSP REGIONAL INDICATORS DASHBOARD, THAT WE USE TO FOCUS AND PRIORITIZE. MSP STORYTELLINGOUR VISION FOR THE GREATER MSP REGION IS TO LEAD THE WORLD IN INCLUSIVE ECONOMIC GROWTH BY WELCOMING ALL, EMPOWERING TALENT AND IGNITING INNOVATION. AS OUR REGION'S RESIDENTS WORK TOGETHER TO BUILD THIS WORLD-CLASS ECONOMY AND QUALITY OF LIFE WHILE SOLVING SOME OF THE GREATEST CHALLENGES OF THE 21ST CENTURY IN FOOD, WATER AND HEALTH, WE ARE PROUD TO SHARE THEIR STORIES. IN 2022, GREATER MSP CONTINUED TO DEVELOP A VARIETY OF TOOLS AND VEHICLES TO BRAND AND MARKET THE GREATER MSP REGION.MAKE IT. MSP.MAKE IT. MSP. BRINGS MANY OF THE REGION'S LARGEST EMPLOYERS TOGETHER TO WORK WITH COMMUNITY AND EDUCATIONAL PARTNERS TO ATTRACT AND RETAIN PROFESSIONALS TO THE REGION. WE HAVE WORKED TOGETHER TO CREATE A WEALTH OF TALENT RESOURCES, WITH SPECIAL ATTENTION TO RETAINING PROFESSIONALS OF COLOR IN OUR REGION. IN 2022, MAKE IT. MSP.: - CONNECTED APPROXIMATELY 25,000 VISITORS TO REFRESHED MAKEITMSP.ORG LEARNING ABOUT LIVING AND WORKING IN THE MSP REGION - ENGAGED 1,000 INTERNS ACROSS 25 COMPANIES AT THE DISCOVER MSP EVENT - LAUNCHED A NEW MSP CULTURAL AMENITIES GUIDE, MSP TRANSFORMING PORTAL AND NEW RECRUITER TOOLS HIGHLIGHTING LOCAL ORGANIZATION ACROSS MSP - EXECUTED AN MSP TALENT FORUM WITH 20+ PARTNERS AND 75+ ATTENDEES AND BUILT A NEW GUIDE TO CREATING AND EXPANDING INTERNSHIP PROGRAMS IN MSP - HOSTED 25 TWIN CITIES STARTUP WEEK FLY-IN PARTICIPANTS THROUGH MARKETING EFFORTS REACHING TECH PROFESSIONALS AND ENTREPRENEURS ACROSS THE COUNTRY FORGE NORTHLED BY A GROWING COALITION OF MORE THAN 150 ALLIES, FORGE NORTH IS A MOVEMENT TO ACCELERATE STARTUPS AND INNOVATION ACROSS THE REGION. IN 2022, FORGE NORTH: - LAUNCHED THE FIRST VENTURE CAPITAL FUND IN MN FOCUSED ON RACE, PLACE AND GENDER: MSP EQUITY FUND - BUILT VERSION 2.0 OF MSP STARTUP COMPASS TO ALIGN RESOURCES MORE EFFECTIVELY FOR MSP-BASED ENTREPRENEURS - TRAINED 246 PROSPECTIVE ANGEL INVESTORS AT ANGEL FEST EVENTS FOR LOCAL STARTUP INVESTORS; PART OF U.S. EDA AWARDED CAMPAIGN - PUBLISHED FIRST ENTERPRISE PLAYBOOK AND CORRESPONDING ENTERPRISE PLEDGE FOR USE AT 50+ CORPORATIONS ACROSS THE MSP REGION MBOLDMBOLD IS A COALITION OF BIG COMPANIES, START-UPS, UNIVERSITIES AND NONPROFITS KEEPING US AT THE FOREFRONT OF INNOVATION IN FOOD AND AGRICULTURE. LAUNCHED IN 2020, MBOLD SEEKS TO MAKE OUR REGION A GLOBAL HUB FOR SOLVING THE MOST CRITICAL FOOD & AGRICULTURE CHALLENGES OF THE 21ST CENTURY, INCLUDING CLIMATE CHANGE. IN 2022, MBOLD: - LAUNCHED THE FIRST PROJECT TO ADDRESS AN INDUSTRIAL-SCALE CIRCULAR ECONOMY FOR PLASTIC FILM IN NORTH AMERICA - LAUNCHED THE SECOND BOLD GROWTH COHORT, INCLUDING ADVISOR COMMITMENTS FROM 10 LEADING MINNESOTA COMPANIES - RAISED $2 MILLION FOR CARBON CREDITS PROJECT AND PILOT PROGRAM LAUNCHCONNEXTMSPCONNEXTMSP IS WORKING TO ENSURE THOUSANDS MORE YOUNG ADULTS OF COLOR FROM OUR REGION ARE HIRED INTO GREAT JOBS BY EMPLOYERS IN OUR REGION. CONNEXTMSP BECAME PART OF GREATER MSP IN 2020, AND PUBLICLY LAUNCHED IN 2021 WITH THE HELP OF MORE THAN 50 COALITION PARTNERS. IN 2022, CONNEXTMSP: - LAUNCHED THE APPRENTICE NETWORK, A NEW SOLUTION FOR LAUNCHING YOUNG ADULTS OF COLOR INTO GREAT CAREERS - GREW THE CONNEXTMSP NETWORK BY ADDING OVER 800 PROFILES - ENGAGED OVER 1,000 ATTENDEES AT EVENTS THROUGHOUT THE YEARREGIONAL AIR SERVICES PARTNERSHIP (RASP)THE MSP REGIONAL AIR SERVICES PARTNERSHIP (RASP) WAS LAUNCHED IN 2017 BY THE METROPOLITAN AIRPORTS COMMISSION (MAC) AND GREATER MSP. RASP DRAWS ON THE LEADERSHIP OF CORPORATE PARTNERS AND THE METROPOLITAN AIRPORTS COMMISSION TO EXPAND ACCESS TO DOMESTIC AND GLOBAL LOCATIONS FROM MSP INTERNATIONAL AIRPORT. IN 2022, 15 COMPANIES PARTICIPATED IN AN AIR PASSENGER SERVICE DEMAND SURVEY. ITASCA PROJECTIN 2022, GREATER MSP SUCCESSFULLY INTEGRATED THE ITASCA PROJECT, AN EMPLOYER-LED CIVIC ALLIANCE FOCUSED ON BUILDING A THRIVING ECONOMY AND EXPANDING PROSPERITY FOR ALL, ACCELERATING WORK ON LONG-TERM ISSUES. IN 2022, THE ITASCA PROJECT: - LAUNCHED A FIRST 1000 DAYS EMPLOYER TOOLKIT WITH 15+ OFF-THE-SHELF POLICIES AND CASE STUDIES - HOSTED A FIRST 1000 DAYS CAPSTONE EVENT IN PARTNERSHIP WITH THE MASONIC INSTITUTE FOR THE DEVELOPING BRAIN WITH 40+ COMMUNITY LEADERS - IDENTIFIED AND HOSTED 50 EMERGING LEADERS FROM ACROSS THE STATE FOR THE 2023 MINNESOTA YOUNG AMERICAN LEADERS PROGRAM - SENT 10 EMERGING LEADERS AS PART OF OUR 7TH COHORT TO HARVARD BUSINESS SCHOOL FOR THE NATIONAL YOUNG AMERICAN LEADERS PROGRAM BUSINESS BRIDGEBUSINESS BRIDGE IS A COALITION OF LARGE CORPORATE BUYERS AND MINNESOTA SUPPLIERS WORKING TOGETHER TO MAXIMIZE LOCAL JOB GROWTH AND WEALTH CREATION, DRIVING INCLUSIVE ECONOMIC GROWTH IN THE MINNEAPOLIS-SAINT PAUL REGION. BUSINESS BRIDGE WAS FOUNDED BY A JOBS TASK FORCE OF THE ITASCA PROJECT WORKING WITH A GROUP OF CORPORATE PROCUREMENT EXECUTIVES. THE GREATER MSP PARTNERSHIP ADOPTED BUSINESS BRIDGE IN 2022 TO SCALE THE INITIATIVE BY EXPANDING THE COALITION. TOGETHER, WE ARE PURSUING NEW AMBITIOUS GOALS TO ADD CORPORATE PARTNERS AND TO INCREASE BOTH LOCAL SPENDING AND SPENDING WITH LOCAL DIVERSE SUPPLIERS, WITH A PARTICULAR FOCUS ON INCREASING CONTRACTS WITH BIPOC-OWNED BUSINESSES.FEDERAL FUNDING HUBTHE PURPOSE OF THE FEDERAL FUNDING HUB IS TO HELP LOCAL GOVERNMENTS AND THEIR PARTNERS MAKE THE MOST OF OPPORTUNITIES UNDER THE AMERICAN RESCUE PLAN ACT (ARPA) AND OTHER FEDERAL FUNDING PROGRAMS. IN 2022, THE FEDERAL FUNDING HUB LAUNCHED THE ARPA TRACKER, THE FIRST U.S. DIGITAL HUB TRACKING LOCAL GOVERNMENT SPENDING FOR FEDERAL RECOVERY FUNDS.BIO INNOVATIONGREATER MSP LED A COALITION OF PARTNERS TO COMPETE IN THE U.S. ECONOMIC DEVELOPMENT ADMINISTRATION'S HIGH-PROFILE BUILD BACK BETTER REGIONAL CHALLENGE. WE MOBILIZED A COALITION OF MORE THAN 60 ORGANIZATIONS TO CREATE A $2 BILLION STRATEGY TO GROW THE STATE'S BIO SECTOR. 5368530 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 39 0 1 27 1 0 0 0 0 0 0 0 0 0 0 0 0 X 43 42 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MN X SAMUEL MORANTZ 6512871365 400 ROBERT ST NORTH 1600 SAINT PAUL MN 55101 PETER FROSCH PRESIDENT & CEO 40.00 X X 429801 0 17118 TONYA ALLEN DIRECTOR 0.50 X 0 0 0 CHAIRMAN KEITH ANDERSON DIRECTOR 0.50 X 0 0 0 CHRISTOPHE BECK DIRECTOR 0.50 X 0 0 0 ANDY BESSETTE DIRECTOR 0.50 X 0 0 0 DOUG CARNIVAL OF COUNSEL 0.50 X 0 0 0 COMMISSIONER TONI CARTER DIRECTOR (UNTIL 12/31/2022) 0.50 X 0 0 0 BRETT CARTER DIRECTOR 0.50 X 0 0 0 MAYOR MELVIN CARTER DIRECTOR 0.50 X 0 0 0 BERT COLIANNI DIRECTOR 0.50 X 0 0 0 BETH FORD DIRECTOR (UNTIL 12/31/2022) 0.50 X 0 0 0 MAYOR JACOB FREY DIRECTOR 0.50 X 0 0 0 JOAN GABEL DIRECTOR 0.50 X 0 0 0 COMMISSIONER KATHLEEN GAYLORD DIRECTOR (UNTIL 12/31/2022) 0.50 X 0 0 0 COMMISSIONER MARION GREENE DIRECTOR (UNTIL 12/31/2022) 0.50 X 0 0 0 STEVE HOCKETT DIRECTOR (UNTIL 12/31/2022) 0.50 X 0 0 0 DAN JOHNSON DIRECTOR 0.50 X 0 0 0 ERIC JOLLY DIRECTOR 0.50 X 0 0 0 MICHAEL JONES DIRECTOR 0.50 X 0 0 0 PHILIP KAUFMAN DIRECTOR 0.50 X 0 0 0 AMY LANGER DIRECTOR 0.50 X 0 0 0 AUDREY LUCAS DIRECTOR 0.50 X 0 0 0 JAY LUND DIRECTOR (UNTIL 12/31/2022) 0.50 X 0 0 0 MIKE MAGUIRE DIRECTOR 0.50 X 0 0 0 MATT MARSH DIRECTOR 0.50 X 0 0 0 JOHN NAYLOR DIRECTOR 0.50 X 0 0 0 JON NUDI DIRECTOR 0.50 X 0 0 0 MICHAEL O'LEARY DIRECTOR 0.50 X 0 0 0 LAURA OBERST DIRECTOR 0.50 X 0 0 0 RT RYBAK DIRECTOR 0.50 X 0 0 0 DAVID SAGGAU DIRECTOR 0.50 X 0 0 0 COMMISSIONER SCOTT SCHULTE DIRECTOR 0.50 X 0 0 0 TODD SENGER DIRECTOR 0.50 X 0 0 0 CHRISTINE SOVEREIGN DIRECTOR 0.50 X 0 0 0 JOHN STAUCH DIRECTOR 0.50 X 0 0 0 JULIE SULLIVAN DIRECTOR (UNTIL 6/1/2022) 0.50 X 0 0 0 CAROL SURFACE DIRECTOR (UNTIL 2/28/2022) 0.50 X 0 0 0 COMMISSIONER MATT UDERMANN DIRECTOR 0.50 X 0 0 0 COMMISSIONER JON ULRICH DIRECTOR 0.50 X 0 0 0 LAYSHA WARD DIRECTOR 0.50 X 0 0 0 COMMISSIONER LISA WEIK DIRECTOR (UNTIL 12/31/2022) 0.50 X 0 0 0 BRADLEY WOOD DIRECTOR 0.50 X 0 0 0 TIMOTHY A WELSH CHAIRMAN 1.00 X X 0 0 0 RAVI NORMAN VICE CHAIR 0.50 X X 0 0 0 DENNIS DAHLEN TREASURER 0.50 X X 0 0 0 CYDNI RICE VICE PRESIDENT, OPERATIONS 40.00 X 224435 0 29050 MATTHEW LEWIS VICE PRESIDENT, STRATEGIC INITIATIVES 40.00 X 242057 0 12079 AMANDA TAYLOR VICE PRESIDENT, RESEARCH & INTELLIGENCE 40.00 X 215521 0 46300 JENNIFER M LINDEMER DIRECTOR, ORGANIZATIONAL DEVELOPMENT 36.00 X 163070 0 35794 JOANNE BERKENKAMP MANAGING DIRECTOR, MBOLD 36.00 X 174347 0 6272 SAM B MORANTZ COMPTROLLER 40.00 X 149550 0 12556 LEESHA M COLLINS MANAGING DIRECTOR, CONNEXTMSP 40.00 X 183781 0 21920 KRISTIN GUILD DIRECTOR, BUSINESS BRIDGE 40.00 X 122085 0 5416 1904647 0 186505 12 0 1 0 0 590394 6195811 6786205 10230 10230 6796435 0 0 10230 130183 130183 1206398 869409 263821 73168 2229490 1569524 659966 73564 52325 21239 187355 121149 63285 2921 200669 145635 51108 3926 13922 3215 10707 68116 68116 44668 44668 204311 135608 68703 803624 803624 28314 19324 8676 314 189806 137831 51975 176204 127476 47025 1703 50115 36467 13648 275772 263684 12088 285 147 133 5 96505 65874 29561 1070 22306 22288 18 BUILD BACK BETTER REGIO 426484 426484 MISCELLANEOUS EXPENSE 232710 163791 66597 2322 DUES AND SUBSCRIPTIONS 212409 212409 SPONSORSHIPS 17415 17415 6890625 5368530 1436666 85429 2055589 2167183 2531901 2542123 529499 307410 688 994 70791 139380 1409046 1274203 174488 134843 8125 4525 0 91036 5371081 5387494 631113 682562 162100 174100 96524 143678 889737 1000340 X 3199923 3289701 1281421 1097453 4481344 4387154 5371081 5387494 -94190 0 X 0 1 X 1 0 X 5821001 6034977 6102687 6501903 6786205 31246773 5821001 6034977 6102687 6501903 6786205 31246773 3976804 27269969 21393 98572 51561 243 10230 181999 84100 150256 63000 297356 31726128 0.85950 0.86380 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 44668 0 0 44668 0 PART II-B, LINE 1: THE MINNESOTA BUSINESS COALITION FOR RACIAL EQUITY (MBCRE) CONTRACTS WITH FREDRIKSON FOR GOVERNMENT RELATIONS SUPPORT. EACH YEAR, MBCRE MEMBER COMPANIES ALIGN ON A BLACK-CENTERED POLICY AGENDA THAT SUPPORTS ITS VISION TO BUILD A MORE JUST, PROSPEROUS STATE WITH AND FOR BLACK MINNESOTANS. TEAM MEMBERS FROM FREDRIKSON IDENTIFY LEGISLATORS FOR MBCRE TO CONNECT WITH AND OPPORTUNITIES TO ADVANCE POLICY PRIORITIES WITH LETTERS OF SUPPORT OR TESTIMONY IN COMMITTEES. 608465 553102 55363 800581 721101 79480 134843 CAPITAL LEASE OBLIGATION 38048 OPERATING LEASE LIABILITY 105630 143678 X 6796435 0 6796435 0 6796435 6890625 0 6890625 0 6890625 PART X, LINE 2: THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT GREATER MSP IS A NONPROFIT MINNESOTA CORPORATION EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC) AND IS NOT A PRIVATE FOUNDATION AS DEFINED BY SECTION 509(A). GREATER MSP'S ACCOUNTING POLICY PROVIDES THAT A TAX BENEFIT FROM AN UNCERTAIN TAX POSITION MAY BE RECOGNIZED WHEN IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION, INCLUDING RESOLUTIONS OF ANY RELATED APPEALS OR LITIGATION PROCESSES, BASED ON THE TECHNICAL MERITS. GREATER MSP HAS NO UNCERTAIN TAX POSITIONS RESULTING IN AN ACCRUAL OF TAX EXPENSE OR BENEFIT. GENERALLY, GREATER MSP IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE AND LOCAL TAX AUTHORITIES FOR THE YEARS BEFORE 2019. 1 GREAT NORTHERN WINTER FESTIVAL 206 NORTH FIRST STREET MINNEAPOLIS MN 55401 815138735 501(C)(3) 16500 0 SPONSORSHIP OF THE GREAT NORTHERN 2022 FESTIVAL PILLSBURY UNITED COMMUNITIES 3650 FREMONT AVE N MINNEAPOLIS MN 55412 410916478 501(C)(3) 70120 0 SUBRECIPIENT- ARPA BUILD BACK BETTER REGIONAL CHALLENGE PHASE 1 TECHNICAL ASSISTANCE PROGRAM UNIVERSITY ENTERPRISE LABORATORIES INC 1000 WESTGATE DRIVE ST PAUL MN 55114 412093194 501(C)(3) 31633 0 SUBRECIPIENT- ARPA BUILD BACK BETTER REGIONAL CHALLENGE PHASE 1 TECHNICAL ASSISTANCE PROGRAM 3 0 PART I, LINE 2: GREATER MSP PARTNERED WITH SELECTED SUBRECIPIENTS TO PARTICIPATE IN THE BUILD BACK BETTER REGIONAL CHALLENGE FUNDED BY THE U.S. ECONOMIC DEVELOPMENT ADMINISTRATION. PARTICIPANTS MUST MEET SPECIFIC CRITERIA IN ORDER TO BE ELIGIBLE TO RECEIVE GRANT FUNDING FROM THIS PROGRAM. GREATER MSP UTILIZED A SELECTION PROCESS TO DETERMINE AVAILABILITY OF GRANT FUNDING FOR SUBAWARDS, AND ENSURED SUBRECIPIENTS MET THE ELIGIBILITY CRITERIA. IN ORDER TO RECEIVE THE SUBAWARDS FROM GREATER MSP THROUGH THIS PROGRAM, THE SUBRECIPIENTS WERE REQUIRED TO SUBSTANTIATE THE AMOUNTS SPENT ON THE ELIGIBLE EXPENDITURES PER THE REQUIREMENTS OF THE GRANT PROGRAM. X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 PETER FROSCH PRESIDENT & CEO 347239 0 82075 0 487 0 15250 0 1868 0 446919 0 0 0 AMANDA TAYLOR VICE PRESIDENT, RESEARCH & INTELLIGE 180764 0 34270 0 487 0 11577 0 34723 0 261821 0 0 0 MATTHEW LEWIS VICE PRESIDENT, STRATEGIC INITIATIVE 201450 0 40120 0 487 0 12079 0 0 0 254136 0 0 0 CYDNI RICE VICE PRESIDENT, OPERATIONS 144570 0 79500 0 365 0 9347 0 19703 0 253485 0 0 0 LEESHA M COLLINS MANAGING DIRECTOR, CONNEXTMSP 173416 0 10365 0 0 0 9059 0 12861 0 205701 0 0 0 JENNIFER M LINDEMER DIRECTOR, ORGANIZATIONAL DEVELOPMENT 147170 0 15900 0 0 0 8475 0 27319 0 198864 0 0 0 JOANNE BERKENKAMP MANAGING DIRECTOR, MBOLD 157697 0 16650 0 0 0 5063 0 1209 0 180619 0 0 0 SAM B MORANTZ COMPTROLLER 136710 0 12840 0 0 0 6603 0 5953 0 162106 0 0 0 PART I, LINE 1A GREATER MSP PAID FOR THE ANNUAL DUES OF THE CEO AND THE ORGANIZATION VICE PRESIDENTS TO THE MINNEAPOLIS CLUB (A BUSINESS CLUB). THIS BUSINESS CLUB HAS BEEN IDENTIFIED BY THE BOARD AS HAVING MEMBERS YIELDING TREMENDOUS LOCAL, NATIONAL AND GLOBAL IMPACT. THE PRIMARY PURPOSE OF THIS BUSINESS CLUB MEMBERSHIP IS TO CONDUCT BOARD AND COMMITTEE MEETING AND OTHER BUSINESS MEETINGS TO ADVANCE THE AGENDA OF GREATER MSP. ALL EXPENSES ARE SUBSTANTIATED AND EMPLOYEES REIMBURSE GREATER MSP FOR ALL NON-BUSINESS RELATED EXPENSES. THE CEO'S 2022 COMPENSATION INCLUDED A GROSS UP FOR THE ANNUAL PREMIUM FOR SUPPLEMENTAL LONG TERM DISABILITY AND SUPPLEMENTAL LIFE INSURANCE PER THE CEO'S EMPLOYMENT CONTRACT. THE ORGANIZATION'S VICE PRESIDENTS' 2022 COMPENSATION INCLUDED A GROSS UP FOR THE ANNUAL PREMIUM FOR SUPPLEMENTAL LIFE INSURANCE. FORM 990, PART VI, SECTION A, LINE 2 COMMISSIONER TONI CARTER, DIRECTOR AND MAYOR MELVIN CARTER, DIRECTOR - FAMILY RELATIONSHIP FORM 990, PART VI, SECTION B, LINE 11B 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 THE THEIR REVIEW AND COMMENTS PRIOR TO ITS SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C 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. FORM 990, PART VI, SECTION B, LINE 15 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. FORM 990, PART VI, SECTION C, LINE 19 IN 2022 GREATER MSP MADE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.