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PeerBasis
Compensation Comparability Determination

Towerside Innovation District

Executive Director / CEO

EIN 823639718
MN · NTEE S11
FY ending 2024-12-31
June 9, 2026

This analysis benchmarks the total compensation of Stephen Klimek, Executive Director / CEO ($83,000) against every comparable organization that fit the selection criteria — 25 in total — drawn systematically from IRS Form 990 filings, not a hand-picked subset.

Compensation sits at approximately the 80th percentile of comparable organizationswithin the typical range

Benchmarked executive: Stephen Klimek — reported title “EXECUTIVE DIRECTOR”, a direct title match to the Executive Director / CEO role.

How comparable organizations were selected

25 organizations qualified on sector, size, and geography 25 within the band form the benchmarked peer set.

Distribution of comparable compensation

$1,372 total compensation of comparable organizations → $185,624 $83,000
$4,81910th
$21,65725th
$38,182Median
$74,40475th
$110,37890th
$83,000This org · 80th
p10$4,819
p25$21,657
p50$38,182
p75$74,404
p90$110,378
$83,000

Comparable organizations

Each figure is Form 990 Part VII columns D + F (reportable pay plus other compensation and benefits; column F may include amounts from related organizations), normalized to MN cost of living (BEA RPP, 2023) and to its filing year (CPI-U); the reported amount is on each linked 990.

OrganizationStateRevenueMatched titleComp
(reported)
Comp
(adjusted)
FY
Chamber Of Commerce For Greater PA$455,601 Treasurer, Ccgprf & Coo, C $141,346 $142,651 2024
Gp Lens Institute NE$454,646 President $50,000 $56,032 2023
Sports Event Development Fund OH$460,447 President $168,206 $185,624 2023
Park Side 104 Housing Development Fund NY$453,120 Vice President $4,935 $4,397 2025
Cdfi Friendly Bloomington Inc IN$473,448 Executive Director $106,154 $113,292 2024
The College For Behavorial Health Leadership AZ$431,829 Executive Director $108,917 $106,008 2024
Franklin Hill Revitalization Corporation MA$484,000 President Until 8/4/2023 $27,754 $25,240 2024
Fund For The Center For Community Change DC$488,664 President $39,184 $34,799 2024
Alexandria Small Business Development VA$418,773 President $37,953 $38,182 2023
Lynx Foundation CA$413,007 President & Ceo $60,449 $54,386 2023
Partnership Grand Strand SC$411,342 Director $98,673 $101,493 2025
Greater Wilkes-barre Growth Partnership PA$385,463 President/ceo $11,279 $11,383 2024
Schuyler County Human Services NY$378,917 President $1,500 $1,372 2024
Kansas City Regional Destination Develop MO$369,744 President And Ceo $5,086 $5,452 2024
One Arroyo Foundation CA$549,119 Executive Director (Former) $83,718 $71,274 2025
Charlestown Benevolent Care MD$355,905 President $22,889 $21,657 2024
National Association Of Elementary VA$353,924 President $51,268 $51,576 2023
World Tang Soo Do Foundation NC$351,447 Coo/chief Of Staff $4,150 $4,340 2024
Highland Community Associationinc MD$341,244 Executive Di $71,470 $67,622 2024
The Blake Annex NY$579,653 Ceo $36,550 $34,413 2023
Ujf Holdings Corp CA$325,986 Ceo (Current) $18,548 $16,688 2023
Karl Perl Charitable Trust IL$314,900 Trustee $80,133 $82,083 2023
Roebuck Ymca Collaborative Qalicb Inc AL$308,925 President $27,602 $30,178 2024
Ohio Chamber Of Commerce OH$616,192 Executive Director (1/1/23-3/31/23) $22,709 $25,061 2023
Madison Public Market Foundation Inc WI$683,246 Ceo $70,396 $74,404 2024

Comp (reported) is the figure on each organization's Form 990 (columns D + F); Comp (adjusted) normalizes it to MN cost of living and 2024 dollars. Click any organization to verify the figure on ProPublica.

Methodology

Comparable organizations were drawn from electronically filed IRS Form 990 returns and matched on sector (NTEE code), budget (a size-adaptive revenue band that tightens as the organization grows), and geography (same-state first, broadening only when too few peers qualify); every organization within the band forms the peer set. To compare fairly across regions and years, peer compensation is normalized to MN cost of living (BEA Regional Price Parities, 2023) and to the subject's filing year (CPI-U). The figure benchmarked is Form 990 Part VII, Section A, columns D + F — reportable pay plus other compensation, benefits, and deferred amounts (column F may include amounts from related organizations) — with the chief executive matched by role. Related-organization amounts (column E) and institutional trustees are excluded. Full methodology: peerbasis.org/methodology.

Sample, role match & sensitivity

Sensitivity — the subject's percentile under alternative compensation definitions:

BasisSubject percentile
Total compensation (D + F), cost-of-living + inflation adjusted — the PeerBasis default80th
Total compensation (D + F), as reported (no adjustments)76th
Reportable pay only (column D), adjusted88th
All sources (D + E + F), adjusted24th

If the percentile moves materially across these definitions, the result is sensitive to methodology choices, and the board should weigh which basis best fits its facts.

Rebuttable presumption of reasonableness · 26 CFR 53.4958-6

Compensation paid by a tax-exempt organization is presumed reasonable — shifting the burden to the IRS — when three requirements are met. This report supplies the comparability data for the second. The board should record the following in its minutes concurrently with its decision:

Draft board minutes — executive compensation

  1. The compensation of the Executive Director / CEO (Stephen Klimek) was approved in advance by [the Board / Compensation Committee], composed of members with no conflict of interest with respect to the arrangement.
  2. Prior to its determination, the authorized body obtained and relied upon appropriate comparability data, namely the PeerBasis Compensation Comparability Determination dated June 9, 2026, comparing compensation against 25 similarly situated organizations (Same NTEE sector (S11), nationwide + budget 0.67–1.5× revenue).
  3. The authorized body determined that total compensation of $83,000 is reasonable (approximately the 80th percentile of comparable organizations) and documented the basis for this determination concurrently, on [date], by a vote of [__ for / __ against].

Sources: IRS Form 990 e-file data (apps.irs.gov); IRS Business Master File (NTEE classification). Every figure traces to an original public filing — click any organization above to verify it on ProPublica. PeerBasis is a service of Prismind Analytics; its methodology is published, was commissioned for independent adversarial review, and discloses its own limitations. This report is comparability data to support a board's good-faith determination under IRC 4958; it is not legal or tax advice. Generated by PeerBasis on June 9, 2026.