Civic Intelligence

Salem Economic Development Corporation

990 • Fiscal year 2025 • EIN 37-2045526

Jan 01, 2025 to Dec 31, 2025

Organization Profile
400 N Main StSalem, SD 57058

(605) 929-5982

Siviq Scores

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

Liabilities / Assets

71st percentile

0.23x

Higher debt load relative to assets than 71% of similar nonprofits.

2025 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2025

Liabilities / Revenue

88th percentile

0.96x

Higher debt load relative to revenue than 88% of similar nonprofits.

2025 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2025

Net Margin

99th percentile

96%

Higher net margin than 99% of similar nonprofits.

2025 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2025

Top Officer Pay

42nd percentile

$0

Higher top officer pay than 42% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2025 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2025

Asset Growth

95th percentile

82%

Faster asset growth than 95% of similar nonprofits.

2025 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Revenue Growth

80th percentile

32%

Faster revenue growth than 80% of similar nonprofits.

2025 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets71st percentile

Assets

Up

$1,525,581

Up $688,663 (+82%) from 2024

Net Assets

Up

$1,180,581

Up $343,663 (+41%) from 2024

Liabilities

Up

$345,000

Up $345,000 from 2024

Revenue And Expenses
Liabilities / Revenue88th percentileNet Margin99th percentile

Revenue

Up

$357,936

Up $86,395 (+32%) from 2024

Expenses

Down

$14,273

Down $225,005 (-94%) from 2024

Net Income

Up

$343,663

Up $311,400 (+965%) from 2024

Historical Trend

Balance Sheet Trend

Asset Growth95th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2022: $798,524Liabilities 2022: $0Net Assets 2022: $798,5242022Assets 2023: $811,160Liabilities 2023: $6,505Net Assets 2023: $804,6552023Assets 2024: $836,918Liabilities 2024: $0Net Assets 2024: $836,9182024Assets 2025: $1,525,581Liabilities 2025: $345,000Net Assets 2025: $1,180,5812025

Highlighted filing

2025

Assets$1,525,581
Liabilities$345,000
Net Assets$1,180,581
Open 2025 Filing

Operations Trend

Revenue Growth80th percentile

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

$400K$300K$200K$100K$0Revenue 2022: $284,876Expenses 2022: $1,352Net Income 2022: $283,5242022Revenue 2023: $145,123Expenses 2023: $138,992Net Income 2023: $6,1312023Revenue 2024: $271,541Expenses 2024: $239,278Net Income 2024: $32,2632024Revenue 2025: $357,936Expenses 2025: $14,273Net Income 2025: $343,6632025

Highlighted filing

2025

Revenue$357,936
Expenses$14,273
Net Income$343,663
Open 2025 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2025 to Dec 31, 2025
Signed
Mar 18, 2026
Return Version
2025v4.0
Gross Receipts
$357,936
Mission and Program Overview

Mission

To assist and further the economic development of salem, sd and its environs, and to promote and assist in the growth and development of small busiensses in the area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Inventories for Sale or Use$793,624$1,467,546▲ $673,922
Cash and Non-Interest-Bearing Accounts$43,294$58,035▲ $14,741
Total Assets$836,918$1,525,581▲ $688,663
Liabilities
Mortgage Notes Payable Secured by Investment Property-$345,000-
Total Liabilities$0$345,000▲ $345,000
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$836,918$1,180,581▲ $343,663
Total Net Assets Fund Balance$836,918$1,180,581▲ $343,663
Total Liabilities and Net Assets / Fund Balance$836,918$1,525,581▲ $688,663
Compensation and Service Providers
Top Officer Pay42nd percentile

Board Members and Trustees

NameTitle
Jeremy GradyPresident
Brad KranzDirector
Carla SnydersDirector
Debra CheesemanDirector
Keith PaulsonDirector
Logan RothTreasurer/se
Mitch RaymanVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$332,648
Program Service Revenue
$0
Investment Income
$288
Other Revenue
$25,000
All Other Contributions
$24,147
Change in Net Assets
$343,663
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$14,273
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
Interest-$8,694-$8,694
Insurance-$1,050-$1,050
Fees for Services Accounting-$797-$797
Other Expenses$3,510$222-$222
Total Functional Expenses$3,510$10,763$0$14,273
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
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 7A

“The number of directors shall be no more than seven and no less than three. The members at the annual meeting shall elect directors who each shall serve for a three-year term. The terms shall be staggered so that no more than three directors are up for election in any given year. Any vacancies shall be filled by the majority vote of the board of directors, and shall hold office for the remaining unexpired term.”

Form 990, Page 6, Part VI, Line 11B

“The board of directors will review form 990 and provide final approval.”

Form 990, Page 6, Part VI, Line 19

“Governing documents will be available upon request.”

Filing and Contact Details

Filer

Filer Name
Salem Economic Development
EIN
37-2045526
Phone
6059295982
Address
400 N MAIN ST, SALEM, SD 57058

Signing Officer

Name
Logan Roth
Title
Treasurer/secretary
Phone
6059295982
Signed
2026-03-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Logan Roth
Formed
2022
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
7

Preparer

Firm
Elo Prof LLC
Address
PO BOX 249, MITCHELL, SD 57301
Preparer
Jamie a Eldeen CPA
Phone
6059967717
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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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ReturnHeader/PreparerPersonGrp/PreparationDt02026-03-18
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JAMIE A ELDEEN CPA
ReturnHeader/ReturnTs02026-04-10T17:39:14-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02025-01-01
ReturnHeader/TaxPeriodEndDt02025-12-31
ReturnHeader/TaxYr02025

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2025 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,525,581
Liabilities
$345,000
Net assets
$1,180,581
Revenue
$357,936
Expenses
$14,273
Net income
$343,663
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.53$0.35$1.18$0.36$0.01$0.34
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.84$0.00$0.84$0.27$0.24$0.03
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.81$0.01$0.80$0.15$0.14$0.01
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.80$0.00$0.80$0.28$0.00$0.28