Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2022.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Who runs it and what they're paid
8 people listed on the 990; $53K paid to officers and key staff.
Teri Schmidt’s $173K as CEO is at the 56th percentile of top reported officer pay among 2832 $1–10M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 1 named individual · Part VII
| Name | FY2024 | FY2023 | FY2022 |
|---|---|---|---|
| Teri Schmidt | $172,996 | $170,864 | $53,034 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Markets Sioux Falls to boost tourism, strengthen events, and create economic impact.
Questions for Experience Sioux Falls
Your first name shows with your question. Experience Sioux Falls answers here, for everyone.
Know this org? Add your story
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.
By the numbers
The FY2022 990, line by line.
Download 990
| Line | Start FY22 | End FY22 |
|---|---|---|
| Cash and savingsLn 1–2 | $1.8M | |
| InvestmentsLn 11–13 | $1.6M | |
| Land, buildings, equipmentLn 10c | $138K | |
| Total assetsLn 16 | $0 | $4.8M |
| LiabilitiesLn 26 | $0 | $669K |
| Net assetsLn 32 | $0 | $4.1M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $53K | |||
| Other salaries and wagesLn 7 | $295K | |||
| Pension plan contributionsLn 8 | $17K | |||
| Other employee benefitsLn 9 | $35K | |||
| Payroll taxesLn 10 | $31K | |||
| Legal feesLn 11b | $3K | |||
| Accounting feesLn 11c | $27K | |||
| Investment management feesLn 11f | $3K | |||
| Advertising and promotionLn 12 | $313K | |||
| Office expensesLn 13 | $60K | |||
| Information technologyLn 14 | $21K | |||
| OccupancyLn 16 | $58K | |||
| TravelLn 17 | $18K | |||
| Conferences, conventions and meetingsLn 19 | $19K | |||
| InterestLn 20 | $28 | |||
| Depreciation, depletion and amortizationLn 22 | $28K | |||
| InsuranceLn 23 | $7K | |||
| Other expenses (24a–d)Ln 24 | $16K | |||
| Total functional expensesLn 25 | $1.0M | $0 | $0 | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest | $3.9M | $3.6M | $327K | $5.1M | 990 PDF |
| FY2023 | $3.8M | $3.4M | $347K | $4.7M | 990 PDF |
| FY2022 Viewing | $5.1M | $1.0M | $4.1M | $4.1M | 990 PDF |
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Schedules filed Part IV
See the full FY2022 990 (6 parts)
Part I · Summary $5,111,861 revenue, 12 lines filed
Part VI · Governance 7 of 7 board members independent, 3 to look at
Part VIII · Statement of revenue $5,111,861 across 4 lines filed
Part IX · Statement of functional expenses $1,003,834 across 18 lines filed
Part X · Balance sheet $4,763,755 assets, 14 lines filed
Part XI · Reconciliation of net assets $4,094,331 net assets at year end
Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File
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