Deuel Area Development Inc.

“Kitchen Incubator- continuing use of commercial kitchen facility Housing Grant/Loan applications for housing development, Phase 1- 16 lots of land acquisition. County/City teamwork for project Grants and allocations 0, Program service expenses 0”

“Itc capital credit refund 39”

“Travel 2,867”

“Conferences, conventions, and meetings 823”

“Depreciation 910”

“Administration expense 261”

“Office supplies expense 1,276”

“DATA CARD EXPENSE 669”

“Programming expenses 1,757”

“Merger with East Central Development Company and addition of their bank and land assets 162,344”

“BILLS PAYABLE Beginning of year 106, End of year 0”

“East Central Development Company was a company based out of Clear Lake, South Dakota with the goal of spurring economic development within Clear Lake and the surrounding communities. The company was in existence since 1992. In 2008, Deuel Area Development, Inc was formed, based out of Clear lake South Dakota with the goal of spurring economic development within Deuel County, South Dakota. Due to the similiar goals of the two organizations, it was decided between the Boards of Directors of East Central Development Company and Deuel Area Development, Inc to merge the entities into one and operate the merged entities under Deuel Area Development, Inc. The merger of East Central Development Company and Deuel Area Development, Inc was accomplished in 2014 when ECDC dissolved and transferred its assets to DADI. Seven Board members from East Central Development Company joined the Deuel Area Development, Inc Board of Directors in 2014. Assets including checking and savings accounts and the cost basis of land purchased for development were acquired and are shown in the 2014 ending Balance sheet amounts.”

“The Bylaws of Deuel Area Development, Inc were amended to allow for the addition of seven additional directors from the former East Central Development Company to become directors of Deuel Area Development, Inc”