Civic Intelligence

South Eastern Development Foundation

990 • Fiscal year 2019 • EIN 30-0017659

Jan 01, 2019 to Dec 31, 2019 • Filed on Aug 15, 2020

Organization ProfileN/A
500 N Western AvenueSioux Falls, SD 57104

(605) 681-8172

Siviq Scores

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

Liabilities / Assets

70th percentile

0.44x

Higher debt load relative to assets than 70% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

96th percentile

9.25x

Higher debt load relative to revenue than 96% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Net Margin

19th percentile

-7.1%

Higher net margin than 19% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2019

Asset Growth

54th percentile

4.8%

Faster asset growth than 54% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Revenue Growth

3rd percentile

-66%

Faster revenue growth than 3% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets70th percentile

Assets

Up

$12,990,834

Up $593,568 (+4.8%) from 2018

Net Assets

Down

$7,220,241

Down $182,307 (-2.5%) from 2018

Liabilities

Up

$5,770,593

Up $775,875 (+16%) from 2018

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin19th percentile

Revenue

Down

$623,583

Down $1,195,521 (-66%) from 2018

Expenses

Down

$668,147

Down $10,512 (-1.5%) from 2018

Net Income

Down

-$44,564

Down $1,185,009 (-104%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth54th 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

2019

Assets$12,990,834
Liabilities$5,770,593
Net Assets$7,220,241
Open 2019 Filing

Operations Trend

Revenue Growth3rd 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

2019

Revenue$623,583
Expenses$668,147
Net Income-$44,564
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Aug 15, 2020
Return Version
2019v5.0
Gross Receipts
$2,180,156
Mission and Program Overview

Mission

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

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$6,463,750$7,056,492▲ $592,742
Cash and Non-Interest-Bearing Accounts$4,350,861$5,041,842▲ $690,981
Inventories for Sale or Use$1,522,251$886,274▼ $635,977
Accounts Receivable$56,351$1,567▼ $54,784
Total Assets$12,397,266$12,990,834▲ $593,568
Other Assets Total$4,053$4,659▲ $606
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,959,030$3,390,611▼ $1,568,419
Unsecured Notes Loans Payable-$2,240,559-
Other Liabilities-$129,580-
Deferred Revenue$34,263--
Accounts Payable and Accrued Expenses$1,425$9,843▲ $8,418
Total Liabilities$4,994,718$5,770,593▲ $775,875
Net Assets / Fund Balance
Net Assets With Donor Restrictions$2,885,760$5,997,564▲ $3,111,804
Net Assets Without Donor Restrictions$4,516,788$1,222,677▼ $3,294,111
Total Net Assets Fund Balance$7,402,548$7,220,241▼ $182,307
Total Liabilities and Net Assets / Fund Balance$12,397,266$12,990,834▲ $593,568

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$24,300$24,300
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleOtherTotal
Lynne Keller ForbesExecutive Di$206,471$206,471

Board Members and Trustees

NameTitle
David EdwardsPresident
Eric DehaanDirector
Lucas FiegenDirector
Lynne Keller ForbesExecutive Director
Amy IbisSec/treasure
Ryan BoscheeVice Preside

Highest Paid Contractors

ContractorServicesLocationCompensation
SecogStaffing & Bill500 N WESTERN AVE, Sioux Falls, SD 57103$363,897
Franchise ConcreteConstruction45946 260TH ST, Hartford, SD 57033$117,008
Midwest ExcavatingConstruction27073 HENRY PL, Sioux Falls, SD 57103$101,305
Revenue and Support

Revenue Composition

Contributions and Grants
$41,455
Program Service Revenue
$461,915
Investment Income
$51,698
Other Revenue
$68,515
All Other Contributions
$41,455
Change in Net Assets
$-44,564

Audited Revenue Reconciliation

Revenue per Audited Statements
$623,583
Total Revenue per Audited Statements
$623,583
Total Revenue per Form 990
$623,583
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$668,147
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$259,456$104,441-$363,897
Interest$47,661$23,277-$70,938
Fees for Services Other$7,392$9,547-$16,939
Occupancy-$6,778-$6,778
Travel$299$5,734-$6,033
Other Expenses$5,845--$5,845
Insurance-$4,674-$4,674
Total Functional Expenses$513,696$154,451$0$668,147

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$805,890
Expenses per Audited Statements$668,147
Total Expenses per Form 990$668,147
Expenses Not Reported on Form 990$137,743
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
Refundable Advance$128,580
Deposits$1,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
No
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, Page 6, Part VI, Line 11B

“The audited financial statements and the related tax returns are submitted to the board for review and approval.”

Form 990, Page 6, Part VI, Line 12C

“Organization regularly and consistently monitors and enforces compliance”

Form 990, Page 6, Part VI, Line 19

“ON REQUEST”

Filing and Contact Details

Filer

Filer Name
South Eastern Development
EIN
30-0017659
Phone
6056818172
Address
500 N WESTERN AVENUE, SIOUX FALLS, SD 57104

Signing Officer

Name
Lynne Keller Forbes
Title
Executive Director
Phone
6053675390
Signed
2020-08-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lynne Keller Forbes
Formed
2002
Legal Domicile
Sd
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
Wohlenberg Ritzman & Co LLC
Address
PO BOX 1018, YANKTON, SD 57078
Preparer
Kathleen Doyle
Phone
6056654401
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Part I, Line 6

“Board serves without compensation”

Raw XML AppendixShowing 400 of 410 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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IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt02087003
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IRS990ScheduleA/PublicSupportPY170Pct00.95960
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt041455
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IRS990ScheduleA/TotalSupportAmt04050495
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleD/PriorYearAdjustmentsAmt0137743
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IRS990ScheduleD/TotalExpensesPerForm990Amt0668147
IRS990ScheduleD/TotalLiabilityAmt0129580
IRS990ScheduleD/TotalRevenuePerForm990Amt0623583
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IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0LYNNE KELLER FORBES
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0206471
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BOARD SERVES WITHOUT COMPENSATION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE AUDITED FINANCIAL STATEMENTS AND THE RELATED TAX RETURNS ARE SUBMITTED TO THE BOARD FOR REVIEW AND APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ORGANIZATION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ON REQUEST
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0513696
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IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WhistleblowerPolicyInd0true
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Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$12,990,834
Liabilities
$5,770,593
Net assets
$7,220,241
Revenue
$623,583
Expenses
$668,147
Net income
-$44,564
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
2019Detailed filing. Detailed filing data is available for this year.$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