Civic Intelligence

Grant County Development Corporation

990 • Fiscal year 2023 • EIN 36-3452396

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 14, 2024

Organization ProfileWWW.GRANTCOUNTYSD.COM/GCDC
1001 E Fourth Avenue Ste 301Milbank, SD 57252

(605) 438-4232

Siviq Scores

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

Liabilities / Assets

59th percentile

0.09x

Higher debt load relative to assets than 59% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

57th percentile

0.13x

Higher debt load relative to revenue than 57% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Net Margin

75th percentile

30%

Higher net margin than 75% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

77th percentile

$65,000

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 7.5% of source-year revenue.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Asset Growth

80th percentile

19%

Faster asset growth than 80% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

92nd percentile

103%

Faster revenue growth than 92% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets59th percentile

Assets

Up

$1,255,904

Up $198,661 (+19%) from 2022

Net Assets

Up

$1,138,472

Up $264,399 (+30%) from 2022

Liabilities

Down

$117,432

Down $65,738 (-36%) from 2022

Revenue And Expenses
Liabilities / Revenue57th percentileNet Margin75th percentile

Revenue

Up

$872,083

Up $442,578 (+103%) from 2022

Expenses

Up

$607,684

Up $495,396 (+441%) from 2022

Net Income

Down

$264,399

Down $52,818 (-17%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth80th percentile

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

$3.0M$2.0M$1.0M$0Assets 2010: $989,059Liabilities 2010: $375,102Net Assets 2010: $613,9572010Assets 2011: $975,829Liabilities 2011: $356,509Net Assets 2011: $619,3202011Assets 2012: $989,299Liabilities 2012: $332,740Net Assets 2012: $656,5592012Assets 2013: $1,011,888Liabilities 2013: $310,794Net Assets 2013: $701,0942013Assets 2014: $1,156,715Liabilities 2014: $442,737Net Assets 2014: $713,9782014Assets 2015: $1,148,726Liabilities 2015: $420,226Net Assets 2015: $728,5002015Assets 2016: $1,075,095Liabilities 2016: $380,173Net Assets 2016: $694,9222016Assets 2017: $1,022,984Liabilities 2017: $339,948Net Assets 2017: $683,0362017Assets 2018: $1,091,858Liabilities 2018: $444,428Net Assets 2018: $647,4302018Assets 2019: $1,004,949Liabilities 2019: $380,944Net Assets 2019: $624,0052019Assets 2020: $840,747Liabilities 2020: $314,250Net Assets 2020: $526,4972020Assets 2021: $805,684Liabilities 2021: $248,828Net Assets 2021: $556,8562021Assets 2022: $1,057,243Liabilities 2022: $183,170Net Assets 2022: $874,0732022Assets 2023: $1,255,904Liabilities 2023: $117,432Net Assets 2023: $1,138,4722023Assets 2024: $2,008,509Liabilities 2024: $625,670Net Assets 2024: $1,382,8392024

Highlighted filing

2023

Assets$1,255,904
Liabilities$117,432
Net Assets$1,138,472
Open 2023 Filing

Operations Trend

Revenue Growth92nd percentile

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

$1.5M$1.0M$500K$0-$500KExpenses 2010: $46,2002010Expenses 2011: $66,7402011Expenses 2012: $60,3642012Revenue 2013: $120,956Expenses 2013: $76,420Net Income 2013: $44,5362013Revenue 2014: $106,885Expenses 2014: $94,001Net Income 2014: $12,8842014Revenue 2015: $112,231Expenses 2015: $97,709Net Income 2015: $14,5222015Revenue 2016: $73,895Expenses 2016: $107,471Net Income 2016: -$33,5762016Revenue 2017: $107,826Expenses 2017: $119,712Net Income 2017: -$11,8862017Revenue 2018: $75,683Expenses 2018: $111,289Net Income 2018: -$35,6062018Revenue 2019: $87,107Expenses 2019: $110,532Net Income 2019: -$23,4252019Revenue 2020: $303,527Expenses 2020: $401,035Net Income 2020: -$97,5082020Revenue 2021: $150,988Expenses 2021: $120,629Net Income 2021: $30,3592021Revenue 2022: $429,505Expenses 2022: $112,288Net Income 2022: $317,2172022Revenue 2023: $872,083Expenses 2023: $607,684Net Income 2023: $264,3992023Revenue 2024: $1,153,698Expenses 2024: $909,331Net Income 2024: $244,3672024

Highlighted filing

2023

Revenue$872,083
Expenses$607,684
Net Income$264,399
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 14, 2024
Return Version
2023v5.0
Gross Receipts
$872,083
Mission and Program Overview

Mission

The goal of the organization is to promote, encourage, and advance the development of private enterprise, community development, area tourism, industry & business, in grant county, sd.

The goal of the organization is to promote, encourage, and advance the development of private enterprise, community development, area tourism, industry & business, in grant county, south dakota.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$511,281$640,556▲ $129,275
Other Notes and Loans Receivable, Net$446,126$516,559▲ $70,433
Inventories for Sale or Use$89,852$89,852→ $0
Accounts Receivable$69$8,762▲ $8,693
Receivables From Officers Etc$4,793--
Cash and Non-Interest-Bearing Accounts$5,122$175▼ $4,947
Total Assets$1,057,243$1,255,904▲ $198,661
Liabilities
Mortgage Notes Payable Secured by Investment Property$181,862$115,994▼ $65,868
Accounts Payable and Accrued Expenses$1,308$1,438▲ $130
Total Liabilities$183,170$117,432▼ $65,738
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$264,675$588,033▲ $323,358
Net Assets With Donor Restrictions$609,398$550,439▼ $58,959
Total Net Assets Fund Balance$874,073$1,138,472▲ $264,399
Total Liabilities and Net Assets / Fund Balance$1,057,243$1,255,904▲ $198,661

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$1,818-
Compensation and Service Providers
Top Officer Pay77th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Krista Ateyo-gortmakerExecutive DiFT$65,000$65,000

Board Members and Trustees

NameTitle
Brian SandvigPresident
Tom SchunemanPresident
Dave HicksDirector
Dave PageDirector
Jeff KurtzDirector
Jim GessweinDirector
Justin DownesDirector
Kevin KoubaDirector
Nichole BuryDirector
Steve NomelandDirector
Steve WenzlDirector
Suzanne SouzaDirector
Troy KastrupDirector
Traci SteinExecutive Di
Josh WendlandSecretary
Dave HepperTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$848,177
Program Service Revenue
$1,527
Investment Income
$22,379
Other Revenue
$0
All Other Contributions
$24,100
Change in Net Assets
$264,399

Audited Revenue Reconciliation

Revenue per Audited Statements
$872,083
Total Revenue per Audited Statements
$872,083
Total Revenue per Form 990
$872,083
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$500,000
Salaries, Compensation, and Employee Benefits$70,320
Other Expenses$37,364
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$500,000--$500,000
Current Officers, Directors, Trustees, and Key Employees$47,613$17,387-$65,000
Fees for Services Other$9,157$718-$9,875
Fees for Services Accounting$7,122$1,374-$8,496
Fees for Services Legal$5,584--$5,584
Payroll Taxes$3,642$1,678-$5,320
Other Expenses$3,699$535-$4,234
Advertising$3,440--$3,440
Travel$1,491$497-$1,988
Office Expenses$1,096$410-$1,506
Conferences and Meetings$940$343-$1,283
Interest$958--$958
Total Functional Expenses$584,742$22,942$0$607,684

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$607,684
Total Expenses per Audited Statements$607,684
Total Expenses per Form 990$607,684
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Jag Development LLCMilbank, SD-Housing Development$500,000
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
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$4,793--
Governance and Compliance

Governance Checklist

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

“The board of directors review the 990 at the monthly board meeting, the tax return is prepared by an independent accounting firm.”

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

“Periodic review by board of directors”

Form 990, Page 6, Part VI, Line 15A

“Annual review by board of directors”

Form 990, Page 6, Part VI, Line 19

“Made available upon request”

Filing and Contact Details

Filer

Filer Name
Grant County Development
EIN
36-3452396
Phone
6054384232
Address
1001 E FOURTH AVENUE STE 301, MILBANK, SD 57252

Signing Officer

Name
Tom Schuneman
Title
President
Phone
6054384232
Signed
2024-11-14

Organization Details

Principal Officer
Tom Schuneman
Formed
1994
Legal Domicile
Sd
Voting Board Members
15
Independent Board Members
15
Employees
1

Preparer

Firm
Shaw & Associates Pllc
Address
501 SOUTH HIGHWAY 23 SUITE C, MARSHALL, MN 56258
Preparer
Greg Shaw
Phone
5075915000
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“Gcdc has adopted the provisions of fasb asc 740-10, accounting for uncertain tax positions. Gcdc continually evaluates expiring statutes of limitations, audits, proposed settlements, changes in tax law, and new authoritative rulings. Gcdc believes that it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that would be material to the financial statements.”

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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/MissionDesc0THE GOAL OF THE ORGANIZATION IS TO PROMOTE, ENCOURAGE, AND ADVANCE THE DEVELOPMENT OF PRIVATE ENTERPRISE, COMMUNITY DEVELOPMENT, AREA TOURISM, INDUSTRY & BUSINESS, IN GRANT COUNTY, SOUTH DAKOTA.
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IRS990/OtherExpensesGrp/Desc0MEMBERSHIP AND FEES
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IRS990/PayrollTaxesGrp/TotalAmt05320
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0TOM SCHUNEMAN
IRS990/ProfessionalFundraisingInd0false
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IRS990/ProgramServiceRevenueGrp/BusinessCd1531390
IRS990/ProgramServiceRevenueGrp/BusinessCd2531390
IRS990/ProgramServiceRevenueGrp/Desc0MISCELLANEOUS RECEIPTS
IRS990/ProgramServiceRevenueGrp/Desc1INTEREST INCOME - IRP LOANS
IRS990/ProgramServiceRevenueGrp/Desc2INTEREST INCOME - GENERAL
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1525
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1525
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt272
IRS990/ProgSrvcAccomActy2Grp/Desc0THE INTERMEDIARY RELENDING PROGRAM PROVIDES LOW INTEREST LOANS TO LOCAL INTERMEDIARIES THAT RE-LEND TO BUSINESSES AND FOR COMMUNITY DEVELOPMENT PROJECTS IN RURAL COMMUNITIES.
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IRS990/ProgSrvcAccomActy2Grp/RevenueAmt08830
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt070000
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0350732
IRS990/PYOtherExpensesAmt042588
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IRS990/PYTotalExpensesAmt0112288
IRS990/PYTotalRevenueAmt0429505
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IRS990/ReconcilationRevenueExpnssAmt0264399
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0785647
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0511281
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0640556
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
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IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt01818
IRS990ScheduleD/ExpensesSubtotalAmt0607684
IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0GCDC HAS ADOPTED THE PROVISIONS OF FASB ASC 740-10, ACCOUNTING FOR UNCERTAIN TAX POSITIONS. GCDC CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW, AND NEW AUTHORITATIVE RULINGS. GCDC BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT WOULD BE MATERIAL TO THE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/TotalExpensesPerForm990Amt0607684
IRS990ScheduleD/TotalRevenuePerForm990Amt0872083
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0872083
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0607684
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/RecipientTable/CashGrantAmt0500000
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0HOUSING DEVELOPMENT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0JAG DEVELOPMENT LLC
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt048353 149TH ST
IRS990ScheduleI/RecipientTable/USAddress/CityNm0MILBANK
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0SD
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd057252
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTORS REVIEW THE 990 AT THE MONTHLY BOARD MEETING, THE TAX RETURN IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PERIODIC REVIEW BY BOARD OF DIRECTORS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ANNUAL REVIEW BY BOARD OF DIRECTORS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MADE AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsGrp/BOYAmt01057243
IRS990/TotalAssetsGrp/EOYAmt01255904
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IRS990/TotalGrossUBIAmt00
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IRS990/TotalRevenueGrp/ExclusionAmt022379
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01527
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0872083
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01057243
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IRS990/TravelGrp/ManagementAndGeneralAmt0497
IRS990/TravelGrp/ProgramServicesAmt01491
IRS990/TravelGrp/TotalAmt01988
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt015
IRS990/VotingMembersIndependentCnt015
IRS990/WebsiteAddressTxt0WWW.GRANTCOUNTYSD.COM/GCDC
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/PersonNm0TOM SCHUNEMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06054384232
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0GRANT COUNTY DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0GRAN
ReturnHeader/Filer/EIN0363452396
ReturnHeader/Filer/PhoneNum06054384232
ReturnHeader/Filer/USAddress/AddressLine1Txt01001 E FOURTH AVENUE STE 301
ReturnHeader/Filer/USAddress/CityNm0MILBANK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0SD
ReturnHeader/Filer/USAddress/ZIPCd057252
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0923840216
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SHAW & ASSOCIATES PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0501 SOUTH HIGHWAY 23 SUITE C
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MARSHALL

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,255,904
Liabilities
$117,432
Net assets
$1,138,472
Revenue
$872,083
Expenses
$607,684
Net income
$264,399
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.01$0.63$1.38$1.15$0.91$0.24
2023Detailed filing. Detailed filing data is available for this year.$1.26$0.12$1.14$0.87$0.61$0.26
2022Detailed filing. Detailed filing data is available for this year.$1.06$0.18$0.87$0.43$0.11$0.32
2021Detailed filing. Detailed filing data is available for this year.$0.81$0.25$0.56$0.15$0.12$0.03
2020Detailed filing. Detailed filing data is available for this year.$0.84$0.31$0.53$0.30$0.40$0.10
2019Detailed filing. Detailed filing data is available for this year.$1.00$0.38$0.62$0.09$0.11$0.02
2018Detailed filing. Detailed filing data is available for this year.$1.09$0.44$0.65$0.08$0.11$0.04
2017Detailed filing. Detailed filing data is available for this year.$1.02$0.34$0.68$0.11$0.12$0.01
2016Detailed filing. Detailed filing data is available for this year.$1.08$0.38$0.69$0.07$0.11$0.03
2015Detailed filing. Detailed filing data is available for this year.$1.15$0.42$0.73$0.11$0.10$0.01
2014Detailed filing. Detailed filing data is available for this year.$1.16$0.44$0.71$0.11$0.09$0.01
2013Detailed filing. Detailed filing data is available for this year.$1.01$0.31$0.70$0.12$0.08$0.04
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.99$0.33$0.66$0.06
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.98$0.36$0.62$0.07
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.99$0.38$0.61$0.05