Civic Intelligence

Vermillion Area Chamber of Commerce

990 • Fiscal year 2018 • EIN 46-0284795

Jan 01, 2018 to Dec 31, 2018 • Filed on Sep 30, 2019

Organization ProfileWWW.VERMILLIONCHAMBER.COM
2 East Main Street Suite 101Vermillion, SD 57069

(605) 624-5571

Siviq Scores

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

Liabilities / Assets

88th percentile

0.84x

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

2018 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2018

Liabilities / Revenue

93rd percentile

9.19x

Higher debt load relative to revenue than 93% of similar nonprofits.

2018 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2018

Net Margin

7th percentile

-40%

Higher net margin than 7% of similar nonprofits.

2018 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2018

Top Officer Pay

43rd percentile

$0

Higher top officer pay than 43% of similar nonprofits.

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

2018 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2018

Asset Growth

78th percentile

13%

Faster asset growth than 78% of similar nonprofits.

2018 filings • 501(c)4 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Revenue Growth

8th percentile

-28%

Faster revenue growth than 8% of similar nonprofits.

2018 filings • 501(c)4 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets88th percentile

Assets

Up

$9,505,871

Up $1,072,378 (+13%) from 2017

Net Assets

Down

$1,503,560

Down $414,885 (-22%) from 2017

Liabilities

Up

$8,002,311

Up $1,487,263 (+23%) from 2017

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin7th percentile

Revenue

Down

$871,187

Down $334,382 (-28%) from 2017

Expenses

Down

$1,217,475

Down $362,255 (-23%) from 2017

Net Income

Up

-$346,288

Up $27,873 (+7.4%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth78th percentile

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

$20M$15M$10M$5.0M$0Assets 2010: $1,929,833Liabilities 2010: $25,921Net Assets 2010: $1,903,9122010Assets 2011: $3,375,732Liabilities 2011: $22,714Net Assets 2011: $3,353,0182011Assets 2012: $3,215,858Liabilities 2012: $23,878Net Assets 2012: $3,191,9802012Assets 2013: $5,654,083Liabilities 2013: $2,918,441Net Assets 2013: $2,735,6422013Assets 2014: $8,429,860Liabilities 2014: $5,845,425Net Assets 2014: $2,584,4352014Assets 2015: $8,565,939Liabilities 2015: $5,749,184Net Assets 2015: $2,816,7552015Assets 2016: $8,703,201Liabilities 2016: $6,237,119Net Assets 2016: $2,466,0822016Assets 2017: $8,433,493Liabilities 2017: $6,515,048Net Assets 2017: $1,918,4452017Assets 2018: $9,505,871Liabilities 2018: $8,002,311Net Assets 2018: $1,503,5602018Assets 2019: $11,414,880Liabilities 2019: $10,755,827Net Assets 2019: $659,0532019Assets 2020: $12,271,490Liabilities 2020: $10,305,583Net Assets 2020: $1,965,9072020Assets 2021: $13,347,571Liabilities 2021: $11,899,851Net Assets 2021: $1,447,7202021Assets 2022: $14,713,071Liabilities 2022: $13,287,823Net Assets 2022: $1,425,2482022Assets 2023: $14,802,392Liabilities 2023: $13,322,077Net Assets 2023: $1,480,3152023Assets 2024: $16,605,461Liabilities 2024: $14,304,477Net Assets 2024: $2,300,9842024

Highlighted filing

2018

Assets$9,505,871
Liabilities$8,002,311
Net Assets$1,503,560
Open 2018 Filing

Operations Trend

Revenue Growth8th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $427,2552010Expenses 2011: $556,1362011Expenses 2012: $565,4182012Revenue 2013: $381,763Expenses 2013: $829,245Net Income 2013: -$447,4822013Revenue 2014: $893,049Expenses 2014: $1,044,256Net Income 2014: -$151,2072014Revenue 2015: $1,021,753Expenses 2015: $789,433Net Income 2015: $232,3202015Revenue 2016: $711,483Expenses 2016: $1,610,212Net Income 2016: -$898,7292016Revenue 2017: $1,205,569Expenses 2017: $1,579,730Net Income 2017: -$374,1612017Revenue 2018: $871,187Expenses 2018: $1,217,475Net Income 2018: -$346,2882018Revenue 2019: $997,961Expenses 2019: $1,611,136Net Income 2019: -$613,1752019Revenue 2020: $1,741,973Expenses 2020: $1,455,628Net Income 2020: $286,3452020Revenue 2021: $1,278,713Expenses 2021: $1,664,667Net Income 2021: -$385,9542021Revenue 2022: $1,541,408Expenses 2022: $1,563,880Net Income 2022: -$22,4722022Revenue 2023: $1,497,971Expenses 2023: $1,442,904Net Income 2023: $55,0672023Revenue 2024: $2,969,160Expenses 2024: $2,148,491Net Income 2024: $820,6692024

Highlighted filing

2018

Revenue$871,187
Expenses$1,217,475
Net Income-$346,288
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Sep 30, 2019
Return Version
2018v3.1
Gross Receipts
$1,281,400
Mission and Program Overview

Mission

To promote and develop economic growth for the city of vermillion, sd

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,020,012$6,504,887▲ $1,484,875
Inventories for Sale or Use$2,550,316$2,233,444▼ $316,872
Cash and Non-Interest-Bearing Accounts$486,037$439,333▼ $46,704
Pledges and Grants Receivable-$266,244-
Accounts Receivable$367,464$52,463▼ $315,001
Other Notes and Loans Receivable, Net$9,664$9,500▼ $164
Total Assets$8,433,493$9,505,871▲ $1,072,378
Liabilities
Mortgage Notes Payable Secured by Investment Property$6,409,397$7,689,361▲ $1,279,964
Other Liabilities-$311,354-
Accounts Payable and Accrued Expenses$105,651$1,596▼ $104,055
Total Liabilities$6,515,048$8,002,311▲ $1,487,263
Net Assets / Fund Balance
Unrestricted Net Assets$1,918,445$1,503,560▼ $414,885
Total Net Assets Fund Balance$1,918,445$1,503,560▼ $414,885
Total Liabilities and Net Assets / Fund Balance$8,433,493$9,505,871▲ $1,072,378

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,287,976$738,589$7,026,565
Land$152,894-$152,894
Equipment$64,017$43,038$107,055
Compensation and Service Providers
Top Officer Pay43rd percentile

Board Members and Trustees

NameTitle
Amy ChristensenPast President
Jamie BaedkePresident
Scott PohlsonVice President
Aj FrankenDirector
Damon AlveyDirector
Darwin Van Den OeverDirector
Dave HertzDirector
Greg HuckabeeDirector
Gregg PetersDirector
Jim PetersonDirector
Joe HooseDirector
Joshua SuingDirector
Leslie GerrishDirector
Mary MerriganDirector
Mike ManningDirector
Powell JackDirector
Prescott JohnSecretary
Jeff EricksonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$697,330
Program Service Revenue
$98,014
Investment Income
$371
Other Revenue
$75,472
All Other Contributions
$359,038
Change in Net Assets
$-346,288

Audited Revenue Reconciliation

Revenue per Audited Statements
$871,187
Total Revenue per Audited Statements
$871,187
Total Revenue per Form 990
$871,187
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$881,936
Salaries, Compensation, and Employee Benefits$335,539
Total Fundraising Expense$179,987
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$305,376-$305,376
Depreciation Depletion$180,349$10,669-$191,018
Interest$180,433--$180,433
Advertising$2,463$2,040$171,236$175,739
All Other Expenses$67,217--$67,217
Payroll Taxes-$30,163-$30,163
Information Technology-$16,270-$16,270
Insurance-$14,639-$14,639
Fees for Services Accounting-$9,254$1,319$10,573
Office Expenses-$10,552-$10,552
Travel--$7,432$7,432
Occupancy-$5,774-$5,774
Conferences and Meetings-$3,425-$3,425
Other Expenses$188,145$3,363-$3,363
Total Functional Expenses$618,607$418,881$179,987$1,217,475

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,217,475
Total Expenses per Audited Statements$1,217,475
Total Expenses per Form 990$1,217,475
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$235,195
Fundraising Gross Income$54,810
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Ambassadors$54,810$54,810$235,195$-180,385
Total Events$54,810$54,810$235,195$-180,385
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deposits Payable$303,536
Federal income taxes$6,718
Accrued Leave Payable$1,100
Sd Equity Partners Payable-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
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, Part VI, Section B, Line 11B

“A copy of the 990 is provided to the board of directors”

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

“The board of directors determines and documents in the minutes the compensation for the executive director”

Form 990, Part VI, Section B, Line 19

“Documents are available upon request”

Filing and Contact Details

Filer

Filer Name
Vermillion Chamber & Development Co
EIN
46-0284795
Phone
6056245571
Address
2 EAST MAIN STREET SUITE 101, VERMILLION, SD 57069

Signing Officer

Name
Nathan Welch
Title
Exective Director
Signed
2019-09-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nathan Welch
Formed
1967
Legal Domicile
Sd
Voting Board Members
18
Independent Board Members
18
Employees
11

Preparer

Firm
Quam Berglin & Post Pc
Address
PO BOX 426, ELK POINT, SD 57025
Preparer
Terri L Post
Phone
6053563374
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PAST PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt6PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
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IRS990/FundraisingGrossIncomeAmt054810
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IRS990/InformationTechnologyGrp/TotalAmt016270
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IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
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IRS990/NetUnrlzdGainsLossesInvstAmt0-68597
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/NondeductibleContriDisclInd0false
IRS990/OccupancyGrp/ManagementAndGeneralAmt05774
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IRS990/OfficeExpensesGrp/TotalAmt010552
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IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0PROGRAM EXPENSES
IRS990/OtherExpensesGrp/Desc1REGISTRATION, DUES AND SUBS
IRS990/OtherExpensesGrp/Desc2EQUIP RENTAL AND MAINT
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt16044
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt23363
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IRS990/OtherExpensesGrp/TotalAmt11312
IRS990/OtherExpensesGrp/TotalAmt26044
IRS990/OtherExpensesGrp/TotalAmt33363
IRS990/OtherLiabilitiesGrp/EOYAmt0311354
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IRS990/OtherSalariesAndWagesGrp/TotalAmt0305376
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt09664
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt09500
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt030163
IRS990/PayrollTaxesGrp/TotalAmt030163
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0266244
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0NATHAN WELCH
IRS990/ProfessionalFundraisingInd0true
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IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/ScheduleBRequiredInd0true
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt0738589
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt07026565
IRS990ScheduleD/EquipmentGrp/BookValueAmt064017
IRS990ScheduleD/EquipmentGrp/DepreciationAmt043038
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0152894
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2303536
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1ACCRUED LEAVE PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2DEPOSITS PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3SD EQUITY PARTNERS PAYABLE
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
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IRS990ScheduleD/TotalBookValueLandBuildingsAmt06504887
IRS990ScheduleD/TotalExpensesPerForm990Amt01217475
IRS990ScheduleD/TotalLiabilityAmt0311354
IRS990ScheduleD/TotalRevenuePerForm990Amt0871187
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IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01217475
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IRS990ScheduleG/EmailSolicitationsInd0X
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IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0AMBASSADORS
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Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$9,505,871
Liabilities
$8,002,311
Net assets
$1,503,560
Revenue
$871,187
Expenses
$1,217,475
Net income
-$346,288
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$16.6$14.3$2.30$2.97$2.15$0.82
2023Detailed filing. Detailed filing data is available for this year.$14.8$13.3$1.48$1.50$1.44$0.06
2022Detailed filing. Detailed filing data is available for this year.$14.7$13.3$1.43$1.54$1.56$0.02
2021Detailed filing. Detailed filing data is available for this year.$13.3$11.9$1.45$1.28$1.66$0.39
2020Detailed filing. Detailed filing data is available for this year.$12.3$10.3$1.97$1.74$1.46$0.29
2019Detailed filing. Detailed filing data is available for this year.$11.4$10.8$0.66$1.00$1.61$0.61
2018Detailed filing. Detailed filing data is available for this year.$9.51$8.00$1.50$0.87$1.22$0.35
2017Detailed filing. Detailed filing data is available for this year.$8.43$6.52$1.92$1.21$1.58$0.37
2016Detailed filing. Detailed filing data is available for this year.$8.70$6.24$2.47$0.71$1.61$0.90
2015Detailed filing. Detailed filing data is available for this year.$8.57$5.75$2.82$1.02$0.79$0.23
2014Detailed filing. Detailed filing data is available for this year.$8.43$5.85$2.58$0.89$1.04$0.15
2013Detailed filing. Detailed filing data is available for this year.$5.65$2.92$2.74$0.38$0.83$0.45
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.22$0.02$3.19$0.57
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.38$0.02$3.35$0.56
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.93$0.03$1.90$0.43