Civic Intelligence

South Eastern Development Foundation

990 • Fiscal year 2020 • EIN 30-0017659

Jan 01, 2020 to Dec 31, 2020 • Filed on Aug 15, 2021

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

(605) 681-8172

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Up

$17,415,403

Up $4,424,569 (+34%) from 2019

Net Assets

Up

$11,045,396

Up $3,825,155 (+53%) from 2019

Liabilities

Up

$6,370,007

Up $599,414 (+10%) from 2019

Revenue And Expenses

Revenue

Up

$4,190,397

Up $3,566,814 (+572%) from 2019

Expenses

Down

$365,242

Down $302,905 (-45%) from 2019

Net Income

Up

$3,825,155

Up $3,869,719 (+8684%) from 2019

Historical Trend

Balance Sheet Trend

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 2020: $17,415,403Liabilities 2020: $6,370,007Net Assets 2020: $11,045,3962020Assets 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

2020

Assets$17,415,403
Liabilities$6,370,007
Net Assets$11,045,396
Open 2020 Filing

Operations Trend

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 2020: $4,190,397Expenses 2020: $365,242Net Income 2020: $3,825,1552020Revenue 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

2020

Revenue$4,190,397
Expenses$365,242
Net Income$3,825,155
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Aug 15, 2021
Return Version
2020v4.0
Gross Receipts
$5,952,636
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$7,056,492$9,224,109▲ $2,167,617
Cash and Non-Interest-Bearing Accounts$5,041,842$5,819,161▲ $777,319
Inventories for Sale or Use$886,274$2,026,229▲ $1,139,955
Accounts Receivable$1,567$308,383▲ $306,816
Land, Buildings, and Equipment, Net-$31,900-
Total Assets$12,990,834$17,415,403▲ $4,424,569
Other Assets Total$4,659$5,621▲ $962
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,390,611$3,228,651▼ $161,960
Unsecured Notes Loans Payable$2,240,559$2,473,317▲ $232,758
Other Liabilities$129,580$666,931▲ $537,351
Accounts Payable and Accrued Expenses$9,843$1,108▼ $8,735
Total Liabilities$5,770,593$6,370,007▲ $599,414
Net Assets / Fund Balance
Net Assets With Donor Restrictions$5,997,564$10,393,121▲ $4,395,557
Net Assets Without Donor Restrictions$1,222,677$652,275▼ $570,402
Total Net Assets Fund Balance$7,220,241$11,045,396▲ $3,825,155
Total Liabilities and Net Assets / Fund Balance$12,990,834$17,415,403▲ $4,424,569

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$31,900$25,400$57,300
Compensation and Service Providers

Employees

NameTitleOtherTotal
Lynne Keller ForbesExecutive Di$248,656$248,656

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
Friessen ConstructionConstruction615 S MARION RD, Sioux Falls, SD 57106$424,180
SecogStaffing & Bill500 N WESTERN AVE, Sioux Falls, SD 57103$400,423
Jeremy ScaddenConstructionPO BOX 243, Valley Springs, SD 57068$169,813
Heartland ConstructionConstruction27335 RIDGEWAY RD, Harrisburg, SD 57032$150,141
Milbank House MoversHouse MoversPO BOX 310, Milbank, SD 57252$120,000
Revenue and Support

Revenue Composition

Contributions and Grants
$3,327,442
Program Service Revenue
$482,536
Investment Income
$32,921
Other Revenue
$347,498
All Other Contributions
$10,000
Change in Net Assets
$3,825,155

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,190,397
Total Revenue per Audited Statements
$4,190,397
Total Revenue per Form 990
$4,190,397
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$365,242
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$373,405$27,019-$400,424
Interest$49,230$25,546-$74,776
Fees for Services Other$1,374$13,743-$15,117
Occupancy-$11,303-$11,303
Insurance-$1,387-$1,387
Depreciation Depletion-$1,100-$1,100
Travel-$387-$387
Other Expenses$-148,620--$-148,620
Total Functional Expenses$284,757$80,485$0$365,242

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$365,242
Total Expenses per Audited Statements$365,242
Total Expenses per Form 990$365,242
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$666,931
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
2021-08-15
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

“Per a technical services agreement with south eastern council of governments (secog), sedf reimburses secog for salaries, employee benefits and other administrative costs.”

Form 990, Page 1, Part I, Line 6

“Board serves without compensation”

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IRS990/PYTotalExpensesAmt0668147
IRS990/PYTotalRevenueAmt0623583
IRS990/ReconcilationRevenueExpnssAmt03825155
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0466936
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt03327442
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt041455
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0917769
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0828756
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt01216672
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt06332094
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt032921
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt051698
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt038335
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt027953
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt022465
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0173372
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt04679276
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.97330
IRS990ScheduleA/PublicSupportPY170Pct00.95950
IRS990ScheduleA/PublicSupportTotal170Amt06332094
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt03327442
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt041455
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0917769
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0828756
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt01216672
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt06332094
IRS990ScheduleA/TotalSupportAmt06505466
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/BookValueAmt031900
IRS990ScheduleD/EquipmentGrp/DepreciationAmt025400
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt057300
IRS990ScheduleD/ExpensesSubtotalAmt0365242
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0666931
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0REFUNDABLE ADVANCE
IRS990ScheduleD/RevenueSubtotalAmt04190397
IRS990ScheduleD/TotalBookValueLandBuildingsAmt031900
IRS990ScheduleD/TotalExpensesPerForm990Amt0365242
IRS990ScheduleD/TotalLiabilityAmt0666931
IRS990ScheduleD/TotalRevenuePerForm990Amt04190397
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt04190397
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0365242
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0248656
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0LYNNE KELLER FORBES
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0248656
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PER A TECHNICAL SERVICES AGREEMENT WITH SOUTH EASTERN COUNCIL OF GOVERNMENTS (SECOG), SEDF REIMBURSES SECOG FOR SALARIES, EMPLOYEE BENEFITS AND OTHER ADMINISTRATIVE COSTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD SERVES WITHOUT COMPENSATION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE AUDITED FINANCIAL STATEMENTS AND THE RELATED TAX RETURNS ARE SUBMITTED TO THE BOARD FOR REVIEW AND APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ORGANIZATION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 1, PART I, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0true
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0SOUTH EAST COUNCIL OF GOVTS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0SD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0500 N WESTERN AVE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0SIOUX FALLS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0SD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd057104
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0true
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/SupplementalInformationDetail/ExplanationTxt0PER A TECHNICAL SERVICES AGREEMENT WITH SOUTH EASTERN COUNCIL OF GOVERNMENTS (SECOG), THE ORGANIZATION REIMBURSES SECOG FOR SALARIES, EMPLOYEE BENEFITS AND VARIOUS ADMINISTRATIVE COSTS.
IRS990ScheduleR/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE R
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0400424
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt1100000
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0ACTUAL EXPENSES
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1CASH
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0SECOG
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1SECOG
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0P
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1C
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt012990834
IRS990/TotalAssetsEOYAmt017415403
IRS990/TotalAssetsGrp/BOYAmt012990834
IRS990/TotalAssetsGrp/EOYAmt017415403
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalContributionsAmt03327442
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt080485

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$17,415,403
Liabilities
$6,370,007
Net assets
$11,045,396
Revenue
$4,190,397
Expenses
$365,242
Net income
$3,825,155
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
2020Detailed filing. Detailed filing data is available for this year.$17.4$6.37$11.0$4.19$0.37$3.83
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