NDeavor

What it reported doing in 2024

For charitable, scientific & educational purposes primarily promoting public/private partnership, advancing research and technology development, including entrepreneurship.The following were the NDSU Research & Technology Park's (Organization) unique programs in 2024: Continued on Schedule O...At the Technology Incubator, the Organization continues to create an entrepreneurial culture that fosters innovation and encourages creativity. This was accomplished by providing coaching and mentoring services and networking events. In 2014, the Organization became an administrator for the State of North Dakota Department of Commerce (DOC) Innovate ND program. The Organization assists the DOC in growing the entrepreneurial ecosystem in North Dakota and provides support for the development of new and innovative businesses. The Organization participates in the Innovate ND program along with three other entrepreneurial centers located across the State of North Dakota. The Organization assists participants in the program with validating their product and market along with defining the value proposition and customer identification. There are two 3-month phases of the program. For this past fiscal year, the Organization met with two participants in the program meet on a bi-weekly basis to track how they are progressing in each phase of the program and assisting them in growing their business. One client also applied for another state funded grant program, Agricultrual Products Utilization Commission (APUC). This programs focuses on the development of new and expanded uses of North Dakota's agricultural products. The Organization assisted the client with prepped for their presentation to the Board of APUC. The Organization collaborates with the North Dakota Small Business Development Center on many different areas to provide assistance to businesses. These are businesses in varying degrees of development. The Organization continues to assist clients located in the incubator by providing coaching and mentoring services.The Organization's cutting-edge makerspace is located in the Organization's Technology Incubator. The Innovation Studio provides an environment for students and private sector companies to develop linkages for specialized training for the development of a qualified workforce for industries in the region. Ultimately, a pipeline of future talent will be created for companies in the region. The Innovation Studio is open to the community, students, faculty and entrepreneurs. The Innovation Studio has played a crucial role in assisting several new companies create their prototypes and move into production. One of these clients was also a client of the Innovate ND program.In June of 2008, the Organization invested in NDSU Research Park Ventures, LLC (RPV). The partnership was incorporated for the purpose of operating a renaissance fund corporation for the City of Fargo. The purpose of the fund is to raise funds to be used to make investments in zone and research park projects and to assist in financing of renaissance zone projects in a manner that will encourage capital and real estate investment in the City of Fargo which, in return, will encourage the expansion of technology based entrepreneurial business development. The project zones are located in downtown Fargo and in the NDSU Research & Technology Park at North Dakota State University.

Financial Efficiency

• Mission deployment rate: 100%; rating input score 100
• Program expense ratio: 83.4%; rating input score 83
• Fundraising efficiency: $0.31 raised per $1 spent on fundraising; rating input score 2; 2nd percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 2 of 6 controls in place; rating input score 33
  • Compensation committee: Pass
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Missing
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 8 of 8 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -28.9%; rating input score 6; 6th percentile among comparable filings
• Total-asset coverage ratio: 7.12; rating input score 89; 89th percentile among comparable filings
• Liabilities to assets ratio: 0.5; rating input score 16; 16th percentile among comparable filings
• Officer compensation ratio: 20.6%; rating input score 14; 14th percentile among comparable filings

Growth

• Program expense growth: -5% per year; rating input score 0; 8th percentile among comparable filings
• Revenue growth: -4.8% per year; rating input score 0; 5th percentile among comparable filings
• Asset growth: -5.6% per year; rating input score 0; 6th percentile among comparable filings