Startup Sioux Falls

Nonprofit profile at a glance

EIN
810585921
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Sioux Falls, SD, USA
Phone
6052758000
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Economic Development

Official website

Reported finances

Revenue
$836,462
Expenses
$974,337
Assets
$6,115,052
Liabilities
$173,822

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

16 people listed

Executive titles in this filing

  • BRIENNE MANER (PRESIDENT)

Highest reported compensation

  • BOB MUNDT ED SIOUX FALLS DEV FD (DIRECTOR): $314,802 total reported compensation
  • JEFF GRIFFIN ED GREATER SF CHAMBER (DIRECTOR): $281,060 total reported compensation
  • BRIENNE MANER (PRESIDENT): $106,401 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of startup sioux falls is to create a thriving epicenter of entrepreneurship and pipeline of demerging rapid growth busisses to expand and diversify the sioux falls economy by providing incubator, accelerator, and other entrepreneurial develop services to these businesses.

What it reported doing in 2024

To assist in the development and expansion of emerging rapid growth businesses in the sioux falls region. To provide office space along with other entrepreneurial serivces to these businesses.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 65
  • Accountability: 77
  • Sustainability: 43
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 88.6%; rating input score 89
  • Program expense ratio: 72.8%; rating input score 73
  • Fundraising efficiency: $4.46 raised per $1 spent on fundraising; rating input score 15; 15th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • 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: 86.7%; rating input score 87; 21st percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • 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: -16.5%; rating input score 11; 11th percentile among comparable filings
  • Total-asset coverage ratio: 6.28; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 59; 59th percentile among comparable filings
  • Officer compensation ratio: 9.1%; rating input score 40; 40th percentile among comparable filings

Growth

  • Program expense growth: -1.1% per year; rating input score 0; 14th percentile among comparable filings
  • Revenue growth: 3% per year; rating input score 100; 31st percentile among comparable filings
  • Asset growth: 0.8% per year; rating input score 100; 20th percentile among comparable filings

Details

  • Where the money goes: 88.6% of revenue deployed · 72.8% of spending went to programs
  • Governance: 13 of 15 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $710K in reported program spending
  • Leadership: top reported pay $315K · 16 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 31 of 31 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 3 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Financial Efficiency: Fundraising efficiency scored 15/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 11/100.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 40/100.
  • Review — Sustainability: Liabilities to assets ratio scored 59/100.