Civic Intelligence

Yankton Area Progressive Growth Inc

990 • Fiscal year 2014 • EIN 46-0348636

Oct 01, 2013 to Sep 30, 2014 • Filed on Feb 12, 2015

Organization ProfileN/A
803 E 4th St57078

(605) 665-3636

Siviq Scores

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

Liabilities / Assets

78th percentile

0.50x

Higher debt load relative to assets than 78% of similar nonprofits.

2014 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2014

Liabilities / Revenue

96th percentile

4.45x

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

2014 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2014

Net Margin

40th percentile

1.6%

Higher net margin than 40% of similar nonprofits.

2014 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2014

Top Officer Pay

10th percentile

$0

Higher top officer pay than 10% of similar nonprofits.

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

2014 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2014

Asset Growth

16th percentile

-4.3%

Faster asset growth than 16% of similar nonprofits.

2014 filings • 501(c)6 • $5M-$10M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Balance Sheet
Liabilities / Assets78th percentile

Assets

Down

$7,898,098

Down $352,950 (-4.3%) from 2013

Net Assets

Down

$3,964,899

Down $1,280 (-0.0%) from 2013

Liabilities

Down

$3,933,199

Down $351,670 (-8.2%) from 2013

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin40th percentile

Revenue

$884,700

No earlier filing loaded for comparison.

Expenses

Down

$870,552

Down $293,150 (-25%) from 2013

Net Income

$14,148

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth16th percentile

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

$10M$5.0M$0Assets 2010: $4,817,920Liabilities 2010: $2,521,919Net Assets 2010: $2,296,0012010Assets 2011: $6,871,637Liabilities 2011: $4,630,896Net Assets 2011: $2,240,7412011Assets 2012: $6,716,595Liabilities 2012: $4,507,574Net Assets 2012: $2,209,0212012Assets 2013: $8,251,048Liabilities 2013: $4,284,869Net Assets 2013: $3,966,1792013Assets 2014: $7,898,098Liabilities 2014: $3,933,199Net Assets 2014: $3,964,8992014Assets 2015: $9,171,299Liabilities 2015: $5,184,646Net Assets 2015: $3,986,6532015Assets 2016: $8,227,179Liabilities 2016: $5,659,055Net Assets 2016: $2,568,1242016Assets 2017: $5,832,869Liabilities 2017: $2,591,087Net Assets 2017: $3,241,7822017Assets 2018: $5,606,119Liabilities 2018: $4,038,387Net Assets 2018: $1,567,7322018Assets 2019: $4,713,432Liabilities 2019: $3,261,140Net Assets 2019: $1,452,2922019Assets 2020: $4,233,318Liabilities 2020: $2,540,785Net Assets 2020: $1,692,5332020Assets 2021: $4,530,814Liabilities 2021: $2,408,965Net Assets 2021: $2,121,8492021Assets 2022: $5,549,140Liabilities 2022: $1,784,893Net Assets 2022: $3,764,2472022Assets 2023: $5,745,063Liabilities 2023: $1,119,543Net Assets 2023: $4,625,5202023

Highlighted filing

2014

Assets$7,898,098
Liabilities$3,933,199
Net Assets$3,964,899
Open 2014 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$4.0M$2.0M$0-$2.0MExpenses 2010: $508,0152010Expenses 2011: $441,5682011Expenses 2012: $764,4862012Expenses 2013: $1,163,7022013Revenue 2014: $884,700Expenses 2014: $870,552Net Income 2014: $14,1482014Revenue 2015: $1,310,630Expenses 2015: $1,285,685Net Income 2015: $24,9452015Revenue 2016: $701,520Expenses 2016: $2,116,829Net Income 2016: -$1,415,3092016Revenue 2017: $2,129,454Expenses 2017: $1,452,772Net Income 2017: $676,6822017Revenue 2018: $1,179,320Expenses 2018: $2,850,196Net Income 2018: -$1,670,8762018Revenue 2019: $1,252,207Expenses 2019: $1,345,960Net Income 2019: -$93,7532019Revenue 2020: $1,456,841Expenses 2020: $1,236,969Net Income 2020: $219,8722020Revenue 2021: $1,616,302Expenses 2021: $1,669,464Net Income 2021: -$53,1622021Revenue 2022: $3,968,792Expenses 2022: $2,311,125Net Income 2022: $1,657,6672022Revenue 2023: $3,688,237Expenses 2023: $2,845,124Net Income 2023: $843,1132023

Highlighted filing

2014

Revenue$884,700
Expenses$870,552
Net Income$14,148
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2013 to Sep 30, 2014
Signed
Feb 12, 2015
Return Version
2013v4.0
Gross Receipts
$884,700
Mission and Program Overview

Mission

To provide leadership in fostering efficient growth of the yankton area economy.

To advance and develop the city of yankton by offering assistance to both industries and businesses either located or proposed to be located in or around yankton

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,641,624$4,487,110▼ $154,514
Inventories for Sale or Use$1,203,921$1,489,914▲ $285,993
Pledges and Grants Receivable$1,724,766$1,381,186▼ $343,580
Investments Program Related$48,622$279,742▲ $231,120
Cash and Non-Interest-Bearing Accounts$358,594$75,624▼ $282,970
Accounts Receivable$32,214$61,945▲ $29,731
Other Notes and Loans Receivable, Net$178,000$60,000▼ $118,000
Loans From Officers Directors$46,400$46,400→ $0
Receivable From Disqualified Prsn$29,534$29,534→ $0
Intangible Assets$30,213$27,203▼ $3,010
Prepaid Expenses and Deferred Charges$3,560$5,840▲ $2,280
Total Assets$8,251,048$7,898,098▼ $352,950
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,986,591$3,694,319▼ $292,272
Grants Payable$112,156$121,640▲ $9,484
Accounts Payable and Accrued Expenses$122,349$56,864▼ $65,485
Other Liabilities$17,373$13,976▼ $3,397
Total Liabilities$4,284,869$3,933,199▼ $351,670
Net Assets / Fund Balance
Unrestricted Net Assets$1,892,412$2,234,713▲ $342,301
Temporarily Rstr Net Assets$1,724,767$1,381,186▼ $343,581
Permanently Rstr Net Assets$349,000$349,000→ $0
Total Net Assets Fund Balance$3,966,179$3,964,899▼ $1,280
Total Liabilities and Net Assets / Fund Balance$8,251,048$7,898,098▼ $352,950

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,997,636$536,076$4,533,712
Equipment$329,594$311,308$640,902
Land$159,880-$159,880

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2013$349,000---$349,000
2012$349,000---$349,000
2011$349,000---$349,000
2010$349,000---$349,000
2009$349,000---$349,000
Compensation and Service Providers
Top Officer Pay10th percentile

Board Members and Trustees

NameTitle
David KnoffChairman
-President
-Board Member
Amy NelsonBoard Member
Carmen SchrammBoard Member
-Board Memebe
-Executive VP
-Treasurer
-Vice Preside
Brian StrahlVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$384,338
Program Service Revenue
$494,908
Investment Income
$379
Other Revenue
$5,075
All Other Contributions
$354,898
Change in Net Assets
$14,148

Audited Revenue Reconciliation

Revenue per Audited Statements
$869,272
Revenue Not Reported on Financial Statements
$15,428
Other Revenue Adjustments
$15,428
Total Revenue per Audited Statements
$869,272
Total Revenue per Form 990
$884,700
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$485,644
Other Expenses$384,908
Total Fundraising Expense$6,663
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$485,644--$485,644
Depreciation Depletion$163,914--$163,914
Interest$160,060--$160,060
Fees for Services Management-$18,164-$18,164
Fees for Services Accounting-$17,121-$17,121
Fees for Services Legal-$11,745-$11,745
Advertising$7,551$150-$7,701
Conferences and Meetings$205-$6,663$6,868
Insurance$4,946--$4,946
Office Expenses-$1,833-$1,833
Other Expenses$4,012$92-$92
All Other Expenses$-20,035--$-20,035
Total Functional Expenses$812,912$50,977$6,663$870,552

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$870,552
Total Expenses per Audited Statements$870,552
Total Expenses per Form 990$870,552
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
39-0989248-GovSales Tax Incentive$264,675
34-2014700-501c3Job Training$127,219
41-0879087--Building Incentive$45,000
46-6000567-501c3Leakage Study$35,000
46-0387557--Staff Training$13,750
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
In-house lobbying only
Yes
Subject to proxy tax
Yes
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Amy NelsonBoard MemberCity IncentivesNo-
Brad WenandeBoard MemberLand TransactionsNo-
Dan EisenbraunBoard MemberSurveyor FeesNo-
Dan SpechtBoard MemberInvestmentNo-
Gary WoodBoard MemberAdvertising & PrintNo-
Jeff JonesBoard MemberBank FinancingNo-
Jeff MayBoard MemberLand TransactionsNo-
Lynn PetersonBoard MemberBank FinancingNo-
Rob StephensonBoard MemberBank FinancingNo-

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$46,400$46,400→ $0
Receivables from Disqualified Persons$29,534$29,534→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Interest$13,153
Accrued Property Taxes$823
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
Yes
Material changes to governing documents
Yes
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 4

“1) include updates to their bylaws to reflect the change in their organizational structure. In which, there shall be two (2) classes of directors. Class a directors shall be elected by the members and shall be members of the corporation during their directorship. There shall be eighteen (18) class a directors. Each class a director shall serve a term of three years (3). The terms of the class a directors shall be staggered so that six (6) directors are elected each year. There shall be five (5) class b directors. Class b directors do not need to be members of the corporation. The class b directors shall consist of: a)one (1) city commissioner appointed by the mayor of teh city of yankton, sd(which can, but need not be, the mayor); b) one (1) city commissioner of the city of yankton, sd appointed by the city commission; c) the city manager of the city of yankton, sd, who shall also serve as vice president of the corporation; d) the executive director of the yankton area chamber of commerce; and e) one (1) yankton county commissioner, appointed by the county commission. 2) at each annual meeting of members, the membership shall elect (6) class a directors. The class b directors shall be appointed at the annual meeting. Each director shall hold office until the expiration of the term for which the director was elected or appointed, and until a successor has been duly elected or appointed, and qualified, or until the director's prior resignation or removal as provided in these bylaws. 3) a) any of all of the class a directors may be removed with or without cause by vote of the members of the corporation. The board of directors may remove any class a or class b directors for cause only.”

Form 990, Page 6, Part VI, Line 6

“The organization has members.”

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

“All board members receive a copy of the 990 for their review. The executive board will meet at the next scheduled executive board meeting to review and discuss the form 990 in detail.”

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

“The board of directors monitors conflicts of interest at each board meeting and takes appropriate action to enforce the policy if any issues arise.”

Form 990, Page 6, Part VI, Line 19

“The organization has adopted a policy of providing copies of various documents that are subject to public disclosure, upon written or verbal request.”

Filing and Contact Details

Filer

EIN
46-0348636
Phone
6056653636

Signing Officer

Name
Rob Stephenson
Title
Executive VP
Phone
6056653636
Signed
2015-02-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rob Stephenson
Formed
1978
Legal Domicile
Sd
Voting Board Members
21
Independent Board Members
11
Employees
0
Volunteers
36

Preparer

Preparer
Shauna M Kauth CPA
Phone
6056659401
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“Various activities promoting economic growth in the community”

Form 990, Part XI, Line 9

“Loss on consolidated for profit subsidiary -15,428”

Form 990, Part XI, Line 9

“Part xi- line 9 financial statement loss from consolidation of for profit subsidary-yankton development corporation.”

Financial Statement Notes

Schedule D, Page 3, Part X

“The organization is exempt from income taxes under section 501(c)(6) of the internal revenue code; accordingly, no provisions for income taxes are made in the the finanical statements. The organization believes that it has appropriate support for any tax positions taken, and such, does not have any uncertain tax positions that are material to the finanical statements.”

Schedule D, Page 4, Part XI, Line 4B

“Loss on consolidated for profit subsidiary 15,428”

Schedule D, Page 4, Part XIII

“Part v, line 4- intended use for endowment funds funds will be utilized to enhance and promote economic growth in the yankton area as deemed necessary by a majority vote of the governing board. These funds may be loaned, granted, or used internally to purchase property and develop properties and other assets, and to construct spec buildings.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11VICE PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt14EXECUTIVE VP
IRS990/Form990PartVIISectionAGrp/TitleTxt15BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt16VICE PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt17BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt18BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt19BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt20BOARD MEMEBE
IRS990/Form990PartVIISectionAGrp/TitleTxt21BOARD MEMEBE
IRS990/Form990PartVIISectionAGrp/TitleTxt22BOARD MEMEBE
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IRS990/LandBldgEquipCostOrOtherBssAmt05334494
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IRS990/MaterialDiversionOrMisuseInd0false
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IRS990/MembersOrStockholdersInd0true
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0TO ADVANCE AND DEVELOP THE CITY OF YANKTON BY OFFERING ASSISTANCE TO BOTH INDUSTRIES AND BUSINESSES EITHER LOCATED OR PROPOSED TO BE LOCATED IN OR AROUND YANKTON
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IRS990/NetUnrelatedBusTxblIncmAmt0-3452
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt01833
IRS990/OfficeExpensesGrp/TotalAmt01833
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IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsSFAS117Ind0X
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IRS990/OtherExpensesGrp/Desc1PROPERTY TAX
IRS990/OtherExpensesGrp/Desc2MISC EXPENSE
IRS990/OtherExpensesGrp/Desc3BANK CHARGES
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt192
IRS990/OtherExpensesGrp/ProgramServicesAmt06615
IRS990/OtherExpensesGrp/ProgramServicesAmt14012
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IRS990/OtherRevenueMiscGrp/Desc1LOSS TWO BRIDGES CAPITAL LLC
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt1-3452
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt138916
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2-29480
IRS990/ProgSrvcAccomActy2Grp/Desc0GRANTED MONEY TO LOCAL AREA ORGANIZATIONS AND CITY FOR TRAINING AND LEAKAGE STUDY.
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IRS990/ProgSrvcAccomActy2Grp/GrantAmt093750
IRS990/ProgSrvcAccomActy3Grp/Desc0GRANTED MONEY TO LOCAL AREA BUSINESS AS AN INCENTIVE TO BUILD IN THE YANKTON AREA.
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IRS990/ProgSrvcAccomActy3Grp/GrantAmt0264675
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IRS990/PYTotalProfFndrsngExpnsAmt0172579
IRS990/PYTotalRevenueAmt02920860
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IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt029534
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt014148

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,898,098
Liabilities
$3,933,199
Net assets
$3,964,899
Revenue
$884,700
Expenses
$870,552
Net income
$14,148
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$5.75$1.12$4.63$3.69$2.85$0.84
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.55$1.78$3.76$3.97$2.31$1.66
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.53$2.41$2.12$1.62$1.67$0.05
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.23$2.54$1.69$1.46$1.24$0.22
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.71$3.26$1.45$1.25$1.35$0.09
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.61$4.04$1.57$1.18$2.85$1.67
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.83$2.59$3.24$2.13$1.45$0.68
2016Detailed filing. Detailed filing data is available for this year.$8.23$5.66$2.57$0.70$2.12$1.42
2015Detailed filing. Detailed filing data is available for this year.$9.17$5.18$3.99$1.31$1.29$0.02
2014Detailed filing. Detailed filing data is available for this year.$7.90$3.93$3.96$0.88$0.87$0.01
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.25$4.28$3.97$1.16
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.72$4.51$2.21$0.76
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.87$4.63$2.24$0.44
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.82$2.52$2.30$0.51