Civic Intelligence

South Eastern Development Foundation

990 • Fiscal year 2015 • EIN 30-0017659

Jan 01, 2015 to Dec 31, 2015 • Filed on Mar 25, 2016

Organization ProfileN/A
500 N WESTERN AVENUE Room 100Sioux Falls, SD 57104

(605) 367-5390

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

76th percentile

0.54x

Higher debt load relative to assets than 76% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Liabilities / Revenue

91st percentile

3.18x

Higher debt load relative to revenue than 91% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Net Margin

94th percentile

63%

Higher net margin than 94% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2015

Asset Growth

53rd percentile

1.3%

Faster asset growth than 53% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2013 to 2015

Revenue Growth

91st percentile

61%

Faster revenue growth than 91% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2013 to 2015

Balance Sheet
Liabilities / Assets76th percentile

Assets

Up

$8,837,155

Up $220,431 (+2.6%) from 2013

Net Assets

Up

$4,083,312

Up $877,950 (+27%) from 2013

Liabilities

Down

$4,753,843

Down $657,519 (-12%) from 2013

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin94th percentile

Revenue

Up

$1,496,671

Up $922,006 (+160%) from 2013

Expenses

Up

$555,290

Up $124,742 (+29%) from 2013

Net Income

Up

$941,381

Up $797,264 (+553%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth53rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$30M$20M$10M$0Assets 2010: $5,205,187Liabilities 2010: $3,346,687Net Assets 2010: $1,858,5002010Assets 2012: $7,819,679Liabilities 2012: $4,758,434Net Assets 2012: $3,061,2452012Assets 2013: $8,616,724Liabilities 2013: $5,411,362Net Assets 2013: $3,205,3622013Assets 2015: $8,837,155Liabilities 2015: $4,753,843Net Assets 2015: $4,083,3122015Assets 2016: $10,893,854Liabilities 2016: $5,440,307Net Assets 2016: $5,453,5472016Assets 2017: $12,095,069Liabilities 2017: $5,816,766Net Assets 2017: $6,278,3032017Assets 2018: $12,397,266Liabilities 2018: $4,994,718Net Assets 2018: $7,402,5482018Assets 2019: $12,990,834Liabilities 2019: $5,770,593Net Assets 2019: $7,220,2412019Assets 2021: $22,464,210Liabilities 2021: $7,635,246Net Assets 2021: $14,828,9642021Assets 2024: $26,411,169Liabilities 2024: $7,364,988Net Assets 2024: $19,046,1812024

Highlighted filing

2015

Assets$8,837,155
Liabilities$4,753,843
Net Assets$4,083,312
Open 2015 Filing

Operations Trend

Revenue Growth91st percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $227,1932010Expenses 2012: $230,9322012Revenue 2013: $574,665Expenses 2013: $430,548Net Income 2013: $144,1172013Revenue 2015: $1,496,671Expenses 2015: $555,290Net Income 2015: $941,3812015Revenue 2016: $2,363,977Expenses 2016: $1,037,542Net Income 2016: $1,326,4352016Revenue 2017: $2,610,371Expenses 2017: $1,769,415Net Income 2017: $840,9562017Revenue 2018: $1,819,104Expenses 2018: $678,659Net Income 2018: $1,140,4452018Revenue 2019: $623,583Expenses 2019: $668,147Net Income 2019: -$44,5642019Revenue 2021: $4,520,935Expenses 2021: $737,367Net Income 2021: $3,783,5682021Revenue 2024: $3,576,818Expenses 2024: $1,545,327Net Income 2024: $2,031,4912024

Highlighted filing

2015

Revenue$1,496,671
Expenses$555,290
Net Income$941,381
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Mar 25, 2016
Return Version
2015v2.1
Gross Receipts
$1,496,671
Mission and Program Overview

Mission

Strengthening communities and stimulating economic development through small business lending and affordable housing initiatives.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$5,463,508$5,650,075▲ $186,567
Cash and Non-Interest-Bearing Accounts$2,603,883$2,694,796▲ $90,913
Accounts Receivable$60,618$56,149▼ $4,469
Land, Buildings, and Equipment, Net$10,400$5,200▼ $5,200
Total Assets$8,337,406$8,837,155▲ $499,749
Other Assets Total$198,997$430,935▲ $231,938
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,178,529$4,747,239▼ $431,290
Accounts Payable and Accrued Expenses$13,927$4,979▼ $8,948
Other Liabilities$1,675$1,625▼ $50
Deferred Revenue$1,344--
Total Liabilities$5,195,475$4,753,843▼ $441,632
Net Assets / Fund Balance
Unrestricted Net Assets$1,968,298$2,505,500▲ $537,202
Temporarily Rstr Net Assets$1,173,633$1,577,812▲ $404,179
Total Net Assets Fund Balance$3,141,931$4,083,312▲ $941,381
Total Liabilities and Net Assets / Fund Balance$8,337,406$8,837,155▲ $499,749

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$5,200$19,100$24,300
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Roger WeberPresident
Todd RunningVice President
Jennifer LarsenDirector
Ryan AmmannDirector
Lynne Keller ForbesExecutive Director
Trent PrinsSecretary/treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
South Eastern Council Of GovernmentsStaffing And Direct Billing Costs500 N WESTERN AVENUE SUITE 100, Sioux Falls, SD 57104$140,872
Revenue and Support

Revenue Composition

Contributions and Grants
$881,645
Program Service Revenue
$576,164
Investment Income
$23,747
Other Revenue
$15,115
All Other Contributions
$881,645
Change in Net Assets
$941,381

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,496,671
Total Revenue per Audited Statements
$1,496,671
Total Revenue per Form 990
$1,496,671
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$555,290
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$141,020--$141,020
Interest$58,083--$58,083
Fees for Services Accounting$7,526--$7,526
Depreciation Depletion$5,200--$5,200
Insurance$2,343--$2,343
Travel$1,768--$1,768
Fees for Services Legal$1,632--$1,632
All Other Expenses$1,296--$1,296
Other Expenses$350--$350
Total Functional Expenses$555,290$0$0$555,290

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$555,290
Total Expenses per Audited Statements$555,290
Total Expenses per Form 990$555,290
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes$1,625
Rental Deposits-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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 11

“The audited financial statements, along with related tax returns are submitted to the sedf board of directors for review and approval. This action may occur before or after the actual filing of the tax return”

Form 990, Part VI, Section B, Line 12

“Sedf maintains a conflict of interest policy, which is reviewed annually with each current acting board of directors.”

Form 990, Part VI, Section C, Line 19

“Governing documents, bylaws, conflict of interest policy and financial statements are available to the public upon request”

Form 990, Part VI, Section B, Line 15A

“Secog contracted with schenck sc, to undertake an analysis of secogs pay plan. The new and revised pay plan is based on comparative industry data from local, statewide and national data. Secog hires a professional to evaluate and update its pay plan every 3-5 years.”

Filing and Contact Details

Filer

Filer Name
South Eastern Development Foundation
EIN
30-0017659
Phone
6053675390
Address
500 N WESTERN AVENUE Room 100, SIOUX FALLS, SD 57104

Signing Officer

Name
Lynne Keller Forbes
Title
Executive Director
Signed
2016-03-25
Discuss with paid preparer
Yes

Organization Details

Formed
2002
Legal Domicile
Sd
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Firm
QUAM AND BERGLIN CPA'S
Address
PO BOX 426, ELK POINT, SD 57025
Preparer
Terri L Post
Phone
6053563374
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt026834
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt032372
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0139864
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
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IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt01471
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt0212
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt0699
IRS990ScheduleA/OtherIncome170Grp/TotalAmt018211
IRS990ScheduleA/PublicOrganization170Ind0X
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0324225
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02482684
IRS990ScheduleA/TotalSupportAmt02640759
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990ScheduleD/EquipmentGrp/BookValueAmt05200
IRS990ScheduleD/EquipmentGrp/DepreciationAmt019100
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt024300
IRS990ScheduleD/ExpensesSubtotalAmt0555290
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01625
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1RENTAL DEPOSITS
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/RevenueSubtotalAmt01496671
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05200
IRS990ScheduleD/TotalExpensesPerForm990Amt0555290
IRS990ScheduleD/TotalLiabilityAmt01625
IRS990ScheduleD/TotalRevenuePerForm990Amt01496671
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01496671
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0555290
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE AUDITED FINANCIAL STATEMENTS, ALONG WITH RELATED TAX RETURNS ARE SUBMITTED TO THE SEDF BOARD OF DIRECTORS FOR REVIEW AND APPROVAL. THIS ACTION MAY OCCUR BEFORE OR AFTER THE ACTUAL FILING OF THE TAX RETURN
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1SEDF MAINTAINS A CONFLICT OF INTEREST POLICY, WHICH IS REVIEWED ANNUALLY WITH EACH CURRENT ACTING BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS, BYLAWS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3SECOG CONTRACTED WITH SCHENCK SC, TO UNDERTAKE AN ANALYSIS OF SECOGS PAY PLAN. THE NEW AND REVISED PAY PLAN IS BASED ON COMPARATIVE INDUSTRY DATA FROM LOCAL, STATEWIDE AND NATIONAL DATA. SECOG HIRES A PROFESSIONAL TO EVALUATE AND UPDATE ITS PAY PLAN EVERY 3-5 YEARS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 12
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 15A
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
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IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalEmployeeCnt00
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IRS990/TotalFunctionalExpensesGrp/TotalAmt0555290
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt08837155
IRS990/TravelGrp/ProgramServicesAmt01768
IRS990/TravelGrp/TotalAmt01768
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01968298
IRS990/UnrestrictedNetAssetsGrp/EOYAmt02505500
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0500 N WESTERN AVENUE
IRS990/USAddress/CityNm0SIOUX FALLS
IRS990/USAddress/StateAbbreviationCd0SD
IRS990/USAddress/ZIPCd057104
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02016-09-27 15:27:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LYNNE KELLER FORBES
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-03-25
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SOUTH EASTERN DEVELOPMENT FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0SOUT
ReturnHeader/Filer/EIN0300017659
ReturnHeader/Filer/PhoneNum06053675390
ReturnHeader/Filer/USAddress/AddressLine1Txt0500 N WESTERN AVENUE Room 100
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ReturnHeader/Filer/USAddress/StateAbbreviationCd0SD
ReturnHeader/Filer/USAddress/ZIPCd057104
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0QUAM AND BERGLIN CPA'S
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 426
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ELK POINT

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,837,155
Liabilities
$4,753,843
Net assets
$4,083,312
Revenue
$1,496,671
Expenses
$555,290
Net income
$941,381
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$26.4$7.36$19.0$3.58$1.55$2.03
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$22.5$7.64$14.8$4.52$0.74$3.78
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.0$5.77$7.22$0.62$0.67$0.04
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.4$4.99$7.40$1.82$0.68$1.14
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.1$5.82$6.28$2.61$1.77$0.84
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.9$5.44$5.45$2.36$1.04$1.33
2015Detailed filing. Detailed filing data is available for this year.$8.84$4.75$4.08$1.50$0.56$0.94
2013Detailed filing. Detailed filing data is available for this year.$8.62$5.41$3.21$0.57$0.43$0.14
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.82$4.76$3.06$0.23
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.21$3.35$1.86$0.23