Liabilities / Assets
53rd percentile
Higher debt load relative to assets than 53% of similar nonprofits.
Rapid City Economic Development Foundati
EIN 23-7267019 • 501(c)6 • Rapid City, SD
Profile
To improve the quality of life and increase personal income levels in the rapid city area by fostering a vital business climate which provides quality new jobs, attracts new business, helps existing business, and promotes entrepreneurship.
Siviq Scores
Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.
0.25x
Liabilities / Revenue
92nd percentile
Higher debt load relative to revenue than 92% of similar nonprofits.
Net Margin
5th percentile
Higher net margin than 5% of similar nonprofits.
Top Officer Pay
9th percentile
Higher top officer pay than 9% of similar nonprofits.
Top officer pay equals 0.0% of source-year revenue.
Asset Growth
5th percentile
Faster asset growth than 5% of similar nonprofits.
Revenue Growth
9th percentile
Faster revenue growth than 9% of similar nonprofits.
Balance Sheet
Assets
Down$0
Down $15,961,561 (-100%) from 2022
Liabilities
Down$0
Down $3,944,972 (-100%) from 2022
Net Assets
Down$0
Down $12,016,589 (-100%) from 2022
Revenue
Down$0
Down $2,494,984 (-100%) from 2022
Expenses
Up$12,016,589
Up $8,834,064 (+278%) from 2022
Net Income
Down-$12,016,589
Down $11,329,048 (-1648%) from 2022
Trend Graphs
Filings
Most recent year
2023 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $0
- Liabilities
- $0
- Net assets
- $0
- Revenue
- $0
- Expenses
- $12,016,589
- Net income
- -$12,016,589
Latest Filing Detail
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2023 to Dec 31, 2023
- Signed
- May 7, 2024
- Return Version
- 2023v5.0
- Gross Receipts
- $0
Mission and Program Overview
Mission
To improve the quality of life and increase personal income levels in the rapid city area by fostering a vital business climate which provides quality new jobs, attracts new business, helps existing business, and promotes entrepreneurship.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Land, Buildings, and Equipment, Net | $15,062,454 | $0 | ▼ $15,062,454 |
| Investments Program Related | $892,741 | $0 | ▼ $892,741 |
| Cash and Non-Interest-Bearing Accounts | $5,840 | $0 | ▼ $5,840 |
| Accounts Receivable | $526 | $0 | ▼ $526 |
| Savings and Temporary Cash Investments | - | $0 | - |
| Other Notes and Loans Receivable, Net | - | $0 | - |
| Pledges and Grants Receivable | - | $0 | - |
| Receivable From Disqualified Prsn | - | $0 | - |
| Receivables From Officers Etc | - | $0 | - |
| Investments Other Securities | - | $0 | - |
| Investments in Publicly Traded Securities | - | $0 | - |
| Intangible Assets | - | $0 | - |
| Inventories for Sale or Use | - | $0 | - |
| Prepaid Expenses and Deferred Charges | - | $0 | - |
| Total Assets | $15,961,561 | $0 | ▼ $15,961,561 |
| Other Assets Total | - | $0 | - |
| Liabilities | |||
| Mortgage Notes Payable Secured by Investment Property | $3,942,125 | $0 | ▼ $3,942,125 |
| Other Liabilities | $2,000 | $0 | ▼ $2,000 |
| Accounts Payable and Accrued Expenses | $847 | $0 | ▼ $847 |
| Total Liabilities | $3,944,972 | $0 | ▼ $3,944,972 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | $12,016,589 | $0 | ▼ $12,016,589 |
| Total Net Assets Fund Balance | $12,016,589 | $0 | ▼ $12,016,589 |
| Total Liabilities and Net Assets / Fund Balance | $15,961,561 | $0 | ▼ $15,961,561 |
Compensation and Service Providers
Employees
| Name | Title | Base | Other | Total |
|---|---|---|---|---|
| Tom Johnson | President/CEO | $265,574 | $37,207 | $302,781 |
Board Members and Trustees
| Name | Title |
|---|---|
| Paulette Davidson | Chair |
| Darren Haar | Past Chair |
| Tom Weaver | Vice Chair |
| Alan Solano | Board Member |
| Andy Bartling | Board Member |
| Brad Hearst | Board Member |
| Brandon Lance | Board Member |
| Dick Johnson | Board Member |
| Greg Loos | Board Member |
| Hani Shafai | Board Member |
| Jana Mccroden | Board Member |
| Mayor Jason Salamun | Board Member |
| Pete Lien | Board Member |
| Zane Brink | Board Member |
| Todd Kenner | Secretary |
| Marne Jones | Treasurer |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $0
- Program Service Revenue
- $0
- Investment Income
- $0
- Other Revenue
- $0
- Change in Net Assets
- $-12,016,589
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Grants and Similar Amounts Paid | $12,016,589 |
| Other Expenses | $0 |
| Professional Fundraising Fees | $0 |
| Salaries, Compensation, and Employee Benefits | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Grants to Domestic Orgs | - | - | - | $12,016,589 |
| Total Functional Expenses | $0 | $0 | $0 | $12,016,589 |
International Activity
Grant and Assistance Recipients
| Recipient | Location | Category | Purpose | Amount |
|---|---|---|---|---|
| Elevate Rapid City | Rapid City, SD | 501(c)(6) | During 2023, the Board of Directors of Rapid City Economic Development Foundation, the City of Rapid City, and the Economic Development Administration Approved Elevate Rapid City (a Related Organization) Acquiring the Assets, Liabilities, and Operations of Rapid City Economic Development Foundation. the Acquisition Occurred to Align Objectives and Combine the Resources of the Two Entities to Better Promote and Support the Rapid City and Black Hills Region. During 2023 the Assets and Liabilities of Rapid City Economic Development Foundation Were Transferred to and Assumed by Elevate Rapid City With No Cash Consideration Transferred Between Entities. the Foundation Was Officially Dissolved by the State of South Dakota on December 8, 2023. | $7,868 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- Subject to proxy tax
- No
Insider Transactions and Loans
Loans and Receivables
| Line Item | Beginning | End | Change |
|---|---|---|---|
| Receivables from Disqualified Persons | - | $0 | - |
| Receivables from Officers, Directors, Trustees, and Key Employees | - | $0 | - |
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- Yes
- Business relationship with 35% controlled entity
- No
- Business relationship with family members
- No
- Business relationship with organization members
- No
- Material changes to governing documents
- No
- Compensation from other sources disclosed
- No
- CEO compensation reviewed
- Yes
- Other officer compensation reviewed
- No
- Conflict-of-interest policy
- Yes
- Audited financial statements prepared
- No
- Key decisions subject to board approval
- No
- Management duties delegated
- No
Governance Explanations
Form 990, Part VI, Section B, Line 11B
“The form 990 is prepared by a certified public accountant who reviews it with management. A copy of the form 990 is provided to the board at a regular board meeting prior to filing.”
Form 990, Part VI, Section B, Line 12C
“Directors and staff members, as well as their family members, must disclose business or family relationships with any other board member or management. The organization regularly and consistently monitors and enforces compliance with the conflict of interest policy. The first meeting following the annual board meeting, the board is presented copies of each of the policies. Those with conflicts are not allowed to participate in votes. Disclipinary action, up to and including termination, is applicable to any staff who violates the policy.”
Form 990, Part VI, Section B, Line 15A
“The president/ceo is employed by elevate rapid city, a related organizaiton (see schedule r). The foundation does not have any direct employees. Elevate rapid city's process for determining compensation of the organization's president/ceo does include review and approval by independent persons and use of comparability data.”
Form 990, Part VI, Section C, Line 19
“The organization makes financial statements and other governing documents available upon request.”
Filing and Contact Details
Filer
- Filer Name
- Rapid City Economic Development Foundati
- EIN
- 23-7267019
- Phone
- 6053431744
- Address
- PO BOX 747, RAPID CITY, SD 57709
Signing Officer
- Name
- Tom Johnson
- Title
- President/CEO
- Phone
- 6053431744
- Signed
- 2024-05-07
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Tom Johnson
- Formed
- 1973
- Legal Domicile
- Sd
- Voting Board Members
- 16
- Independent Board Members
- 16
- Employees
- 0
- Volunteers
- 16
Preparer
- Firm
- Casey Peterson Ltd
- Address
- 909 ST JOSEPH ST STE 101, RAPID CITY, SD 57701
- Preparer
- Kayla Giesey CPA
- Phone
- 6053481930
Supplemental Narrative
Additional Explanations
Form 990, Part III, Line 3
“During 2023, the board of directors of rapid city economic development foundation, the city of rapid city, and the economic development administration approved elevate rapid city (a related organization) acquiring the assets, liabilities, and operations of rapid city economic development foundation. The acquisition occurred to align objectives and combine the resources of the two entities to better promote and support the rapid city and black hills region. During 2023 the assets and liabilities of rapid city economic development foundation were transferred to and assumed by elevate rapid city with no cash consideration transferred between entities. The foundation was officially dissolved by the state of south dakota on december 8, 2023.”
Raw XML AppendixShowing 400 of 545 raw XML fields
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
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| IRS990/ActivityOrMissionDesc | 0 | TO IMPROVE THE QUALITY OF LIFE AND INCREASE PERSONAL INCOME LEVELS IN THE RAPID CITY AREA BY FOSTERING A VITAL BUSINESS CLIMATE WHICH PROVIDES QUALITY NEW JOBS, ATTRACTS NEW BUSINESS, HELPS EXISTING BUSINESS, AND PROMOTES ENTREPRENEURSHIP. |
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| IRS990/Desc | 0 | THE FOUNDATION HAS AN EXTREMELY ACTIVE, FOCUSED PROGRAM IN PLACE WORKING TO ATTRACT QUALITY, PRIMARY JOBS TO THE RAPID CITY AREA. PRIMARY JOBS ARE THOSE JOBS THAT BRING NEW WEALTH INTO THE COMMUNITY. THE FOUNDATION FOCUSES ITS PROGRAMS ON ATTRACTING MANUFACTURING, PROCESSING, AND SERVICE EXPORTING INDUSTRIES. THE FOUNDATION ALSO WORKS TO HELP LOCAL COMPANIES EXPAND AND RETAIN JOBS. THE FOUNDATION RECEIVES PROGRAM REVENUE FROM LEASING SPACE TO NEW AND GROWING BUSINESSES IN THE AREA.DURING 2023, THE BOARD OF DIRECTORS OF RAPID CITY ECONOMIC DEVELOPMENT FOUNDATION, THE CITY OF RAPID CITY, AND THE ECONOMIC DEVELOPMENT ADMINISTRATION APPROVED ELEVATE RAPID CITY (A RELATED ORGANIZATION) ACQUIRING THE ASSETS, LIABILITIES, AND OPERATIONS OF RAPID CITY ECONOMIC DEVELOPMENT FOUNDATION. THE ACQUISITION OCCURRED TO ALIGN OBJECTIVES AND COMBINE THE RESOURCES OF THE TWO ENTITIES TO BETTER PROMOTE AND SUPPORT THE RAPID CITY AND BLACK HILLS REGION. DURING 2023 THE ASSETS AND LIABILITIES OF RAPID CITY ECONOMIC DEVELOPMENT FOUNDATION WERE TRANSFERRED TO AND ASSUMED BY ELEVATE RAPID CITY WITH NO CASH CONSIDERATION TRANSFERRED BETWEEN ENTITIES. THE FOUNDATION WAS OFFICIALLY DISSOLVED BY THE STATE OF SOUTH DAKOTA ON DECEMBER 8, 2023. |
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| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 13 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 14 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 15 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 16 | 0 |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 0 | CHAIR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 1 | VICE CHAIR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 2 | TREASURER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 3 | SECRETARY |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 4 | PAST CHAIR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 5 | BOARD MEMBER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 6 | BOARD MEMBER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 7 | BOARD MEMBER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 8 | BOARD MEMBER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 9 | BOARD MEMBER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 10 | BOARD MEMBER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 11 | BOARD MEMBER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 12 | BOARD MEMBER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 13 | BOARD MEMBER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 14 | BOARD MEMBER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 15 | BOARD MEMBER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 16 | PRESIDENT/CEO |
| IRS990/Form990ProvidedToGvrnBodyInd | 0 | 1 |
| IRS990/FormationYr | 0 | 1973 |
| IRS990/FormerOfcrEmployeesListedInd | 0 | 0 |
| IRS990/FSAuditedInd | 0 | 0 |
| IRS990/FundraisingActivitiesInd | 0 | 0 |
| IRS990/GamingActivitiesInd | 0 | 0 |
| IRS990/GoverningBodyVotingMembersCnt | 0 | 16 |
| IRS990/GrantsToDomesticOrgsGrp/TotalAmt | 0 | 12016589 |
| IRS990/GrantsToIndividualsInd | 0 | 0 |
| IRS990/GrantsToOrganizationsInd | 0 | 1 |
| IRS990/GrantToRelatedPersonInd | 0 | 0 |
| IRS990/GrossReceiptsAmt | 0 | 0 |
| IRS990/GroupReturnForAffiliatesInd | 0 | 0 |
| IRS990/IncludeFIN48FootnoteInd | 0 | 0 |
| IRS990/IndependentAuditFinclStmtInd | 0 | 0 |
| IRS990/IndependentVotingMemberCnt | 0 | 16 |
| IRS990/IndivRcvdGreaterThan100KCnt | 0 | 1 |
| IRS990/IndoorTanningServicesInd | 0 | 0 |
| IRS990/InfoInScheduleOPartIIIInd | 0 | X |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/IntangibleAssetsGrp/EOYAmt | 0 | 0 |
| IRS990/InventoriesForSaleOrUseGrp/EOYAmt | 0 | 0 |
| IRS990/InvestmentInJointVentureInd | 0 | 0 |
| IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt | 0 | 0 |
| IRS990/InvestmentsProgramRelatedGrp/BOYAmt | 0 | 892741 |
| IRS990/InvestmentsProgramRelatedGrp/EOYAmt | 0 | 0 |
| IRS990/InvestmentsPubTradedSecGrp/EOYAmt | 0 | 0 |
| IRS990/IRPDocumentCnt | 0 | 0 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
| IRS990/LandBldgEquipAccumDeprecAmt | 0 | 0 |
| IRS990/LandBldgEquipBasisNetGrp/BOYAmt | 0 | 15062454 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 0 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 0 |
| IRS990/LegalDomicileStateCd | 0 | SD |
| IRS990/LoanOutstandingInd | 0 | 0 |
| IRS990/LocalChaptersInd | 0 | 0 |
| IRS990/MaterialDiversionOrMisuseInd | 0 | 0 |
| IRS990/MembersOrStockholdersInd | 0 | 0 |
| IRS990/MethodOfAccountingAccrualInd | 0 | X |
| IRS990/MinutesOfCommitteesInd | 0 | 1 |
| IRS990/MinutesOfGoverningBodyInd | 0 | 1 |
| IRS990/MissionDesc | 0 | TO IMPROVE THE QUALITY OF LIFE AND INCREASE PERSONAL INCOME LEVELS IN THE RAPID CITY AREA BY FOSTERING A VITAL BUSINESS CLIMATE WHICH PROVIDES QUALITY NEW JOBS, ATTRACTS NEW BUSINESS, HELPS EXISTING BUSINESS, AND PROMOTES ENTREPRENEURSHIP. |
| IRS990/MoreThan5000KToIndividualsInd | 0 | 0 |
| IRS990/MoreThan5000KToOrgInd | 0 | 0 |
| IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt | 0 | 3942125 |
| IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt | 0 | 0 |
| IRS990/NetAssetsOrFundBalancesBOYAmt | 0 | 12016589 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 0 |
| IRS990/NetUnrelatedBusTxblIncmAmt | 0 | 0 |
| IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt | 0 | 12016589 |
| IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt | 0 | 0 |
| IRS990/NondeductibleContributionsInd | 0 | 0 |
| IRS990/OfficerMailingAddressInd | 0 | 0 |
| IRS990/OperateHospitalInd | 0 | 0 |
| IRS990/Organization501cInd | 0 | X |
| IRS990/OrganizationFollowsFASB117Ind | 0 | X |
| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 0 |
| IRS990/OtherChangesInNetAssetsAmt | 0 | 0 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 2000 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 0 |
| IRS990/OthNotesLoansReceivableNetGrp/EOYAmt | 0 | 0 |
| IRS990/PartialLiquidationInd | 0 | 0 |
| IRS990/PayPremiumsPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/PledgesAndGrantsReceivableGrp/EOYAmt | 0 | 0 |
| IRS990/PoliticalCampaignActyInd | 0 | 0 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 0 |
| IRS990/PrincipalOfficerNm | 0 | TOM JOHNSON |
| IRS990/ProfessionalFundraisingInd | 0 | 0 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | 0 |
| IRS990/PYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/PYContributionsGrantsAmt | 0 | 0 |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 2128147 |
| IRS990/PYInvestmentIncomeAmt | 0 | 2199401 |
| IRS990/PYOtherExpensesAmt | 0 | 1054378 |
| IRS990/PYOtherRevenueAmt | 0 | 26 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 295557 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | -687541 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 0 |
| IRS990/PYTotalExpensesAmt | 0 | 3182525 |
| IRS990/PYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/PYTotalRevenueAmt | 0 | 2494984 |
| IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt | 0 | 0 |
| IRS990/RcvFndsToPayPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt | 0 | 0 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | -12016589 |
| IRS990/RegularMonitoringEnfrcInd | 0 | 1 |
| IRS990/RelatedEntityInd | 0 | 1 |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | 0 |
| IRS990/ReportInvestmentsOtherSecInd | 0 | 0 |
| IRS990/ReportLandBuildingEquipmentInd | 0 | 0 |
| IRS990/ReportOtherAssetsInd | 0 | 0 |
| IRS990/ReportOtherLiabilitiesInd | 0 | 0 |
| IRS990/ReportProgramRelatedInvstInd | 0 | 0 |
| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 0 |
| IRS990/ScheduleBRequiredInd | 0 | 0 |
| IRS990ScheduleI/GrantRecordsMaintainedInd | 0 | 1 |
| IRS990ScheduleI/RecipientTable/CashGrantAmt | 0 | 7868 |
| IRS990ScheduleI/RecipientTable/IRCSectionDesc | 0 | 501(C)(6) |
| IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt | 0 | 12008721 |
| IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc | 0 | TRANSFER OF ASSETS AND LIABILITIES UPON DISSOLUTION |
| IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt | 0 | DURING 2023, THE BOARD OF DIRECTORS OF RAPID CITY ECONOMIC DEVELOPMENT FOUNDATION, THE CITY OF RAPID CITY, AND THE ECONOMIC DEVELOPMENT ADMINISTRATION APPROVED ELEVATE RAPID CITY (A RELATED ORGANIZATION) ACQUIRING THE ASSETS, LIABILITIES, AND OPERATIONS OF RAPID CITY ECONOMIC DEVELOPMENT FOUNDATION. THE ACQUISITION OCCURRED TO ALIGN OBJECTIVES AND COMBINE THE RESOURCES OF THE TWO ENTITIES TO BETTER PROMOTE AND SUPPORT THE RAPID CITY AND BLACK HILLS REGION. DURING 2023 THE ASSETS AND LIABILITIES OF RAPID CITY ECONOMIC DEVELOPMENT FOUNDATION WERE TRANSFERRED TO AND ASSUMED BY ELEVATE RAPID CITY WITH NO CASH CONSIDERATION TRANSFERRED BETWEEN ENTITIES. THE FOUNDATION WAS OFFICIALLY DISSOLVED BY THE STATE OF SOUTH DAKOTA ON DECEMBER 8, 2023. |
| IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt | 0 | ELEVATE RAPID CITY |
| IRS990ScheduleI/RecipientTable/RecipientEIN | 0 | 460118545 |
| IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt | 0 | PO BOX 747 |
| IRS990ScheduleI/RecipientTable/USAddress/CityNm | 0 | RAPID CITY |
| IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd | 0 | SD |
| IRS990ScheduleI/RecipientTable/USAddress/ZIPCd | 0 | 57709 |
| IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc | 0 | BOOK |
| IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt | 0 | GRANTS ARE ONLY MADE TO ELEVATE RAPID CITY, A RELATED ORGANIZATION. THE BOARD OF THE FOUNDATION IS COMPOSED OF THE EXECUTIVE COMMITTEE OF ELEVATE RAPID CITY, WHO MONITORS THE USE OF FUNDS BY ELEVATE RAPID CITY. DURING 2023, THE BOARD OF DIRECTORS OF RAPID CITY ECONOMIC DEVELOPMENT FOUNDATION, THE CITY OF RAPID CITY, AND THE ECONOMIC DEVELOPMENT ADMINISTRATION APPROVED ELEVATE RAPID CITY (A RELATED ORGANIZATION) ACQUIRING THE ASSETS, LIABILITIES, AND OPERATIONS OF RAPID CITY ECONOMIC DEVELOPMENT FOUNDATION. THE ACQUISITION OCCURRED TO ALIGN OBJECTIVES AND COMBINE THE RESOURCES OF THE TWO ENTITIES TO BETTER PROMOTE AND SUPPORT THE RAPID CITY AND BLACK HILLS REGION. DURING 2023 THE ASSETS AND LIABILITIES OF RAPID CITY ECONOMIC DEVELOPMENT FOUNDATION WERE TRANSFERRED TO AND ASSUMED BY ELEVATE RAPID CITY WITH NO CASH CONSIDERATION TRANSFERRED BETWEEN ENTITIES. THE FOUNDATION WAS OFFICIALLY DISSOLVED BY THE STATE OF SOUTH DAKOTA ON DECEMBER 8, 2023. |
| IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | PART I, LINE 2: |
| IRS990ScheduleI/TotalOtherOrgCnt | 0 | 1 |
| IRS990ScheduleJ/EquityBasedCompArrngmInd | 0 | 0 |
| IRS990/ScheduleJRequiredInd | 0 | 1 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt | 0 | 265574 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt | 0 | 18970 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt | 0 | 18237 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt | 0 | 0 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm | 0 | TOM JOHNSON |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt | 0 | PRESIDENT/CEO |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt | 0 | 302781 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt | 0 | 0 |
| IRS990ScheduleJ/SeverancePaymentInd | 0 | 0 |
| IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt | 0 | THE PRESIDENT/CEO IS EMPLOYED BY ELEVATE RAPID CITY, A RELATED ORGANIZAITON (SEE SCHEDULE R). ELEVATE RAPID CITY'S PROCESS FOR DETERMINING COMPENSATION OF THE ORGANIZATION'S PRESIDENT/CEO INCLUDES REVIEW AND APPROVAL BY THE BOARD OF DIRECTORS. |
| IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | PART I, LINE 3 |
| IRS990ScheduleJ/SupplementalNonqualRtrPlanInd | 0 | 0 |
| IRS990ScheduleN/AssetsDistributedInd | 0 | 1 |
| IRS990ScheduleN/AttorneyGeneralNotifiedInd | 0 | 1 |
| IRS990ScheduleN/BondsOutstandingInd | 0 | 0 |
| IRS990ScheduleN/DirectorOfSuccessorInd | 0 | 1 |
| IRS990ScheduleN/EmployeeOfSuccessorInd | 0 | 0 |
| IRS990ScheduleN/LiabilitiesPaidInd | 0 | 1 |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc | 0 | CASH DISTRIBUTION |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc | 1 | PROPERTY AND EQUIPMENT, LESS RELATED DEBT ASSUMED BY ELEVATE RAPID CITY |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc | 2 | EQUITY INVESTMENT |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc | 3 | DEVELOPMENT REAL ESTATE |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc | 4 | DEVELOPMENT REAL ESTATE |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt | 0 | ELEVATE RAPID CITY |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt | 1 | ELEVATE RAPID CITY |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt | 2 | ELEVATE RAPID CITY |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt | 3 | ELEVATE RAPID CITY |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt | 4 | ELEVATE RAPID CITY |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt | 0 | 2023-01-30 |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt | 1 | 2023-01-25 |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt | 2 | 2023-01-25 |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt | 3 | 2023-01-25 |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt | 4 | 2023-09-18 |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN | 0 | 460118545 |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN | 1 | 460118545 |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN | 2 | 460118545 |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN | 3 | 460118545 |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN | 4 | 460118545 |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt | 0 | 7868 |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt | 1 | 11120329 |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt | 2 | 100000 |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt | 3 | 957013 |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt | 4 | 1071272 |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt | 0 | 501(C)(6) |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt | 1 | 501(C)(6) |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt | 2 | 501(C)(6) |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt | 3 | 501(C)(6) |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt | 4 | 501(C)(6) |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt | 0 | CASH DISTRIBUTED |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt | 1 | AMOUNT PAID BY RCEDF FOR TRANSFERRED PP&E IN 2021 & 2022, LESS DEBT PRINCIPAL BALANCE AT TRANSFER |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt | 2 | COST BASIS OF RCEDF'S INVESTMENT INTEREST |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt | 3 | APPRAISED LAND VALUE |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt | 4 | APPRAISED LAND VALUE |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt | 0 | PO BOX 747 |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt | 1 | PO BOX 747 |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt | 2 | PO BOX 747 |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt | 3 | PO BOX 747 |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt | 4 | PO BOX 747 |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm | 0 | RAPID CITY |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm | 1 | RAPID CITY |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm | 2 | RAPID CITY |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm | 3 | RAPID CITY |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm | 4 | RAPID CITY |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd | 0 | SD |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd | 1 | SD |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd | 2 | SD |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd | 3 | SD |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd | 4 | SD |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd | 0 | 57709 |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd | 1 | 57709 |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd | 2 | 57709 |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd | 3 | 57709 |
| IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd | 4 | 57709 |
| IRS990ScheduleN/OwnerOfSuccessorInd | 0 | 0 |
| IRS990ScheduleN/ReceiveCompensationInd | 0 | 0 |
| IRS990ScheduleN/RequiredToNotifyAGInd | 0 | 1 |
| IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt | 0 | PERSON(S) INVOLVED: ALL BOARD MEMBERS OF RCEDF |
| IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt | 1 | EXPLANATION OF INVOLVEMENT: THE EXECUTIVE COMMITTEE OF ELEVATE RAPID CITY SERVED AS THE BOARD OF DIRECTORS FOR RAPID CITY ECONOMIC DEVELOPMENT FOUNDATION. THESE BOARD MEMBERS CONTINUE TO SERVE ON THE EXECUTIVE COMMITTEE OF ELEVATE RAPID CITY AFTER DISSOLUTION OF RAPID CITY ECONOMIC DEVELOPMENT FOUNDATION. |
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