Civic Intelligence

Hartford Area Development Foundation

990 • Fiscal year 2023 • EIN 46-0354618

Jan 01, 2023 to Dec 31, 2023 • Filed on Jul 16, 2024

Organization ProfileHARTFORD.LIFE
125 N Main AvenueHartford, SD 57033

(605) 528-3338

Siviq Scores

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

Liabilities / Assets

79th percentile

0.49x

Higher debt load relative to assets than 79% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

94th percentile

4.05x

Higher debt load relative to revenue than 94% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Net Margin

94th percentile

67%

Higher net margin than 94% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

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

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Asset Growth

84th percentile

31%

Faster asset growth than 84% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

4th percentile

-65%

Faster revenue growth than 4% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets79th percentile

Assets

Up

$6,162,760

Up $1,444,132 (+31%) from 2022

Net Assets

Up

$3,123,500

Up $504,872 (+19%) from 2022

Liabilities

Up

$3,039,260

Up $939,260 (+45%) from 2022

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin94th percentile

Revenue

Down

$749,982

Down $1,382,993 (-65%) from 2022

Expenses

Up

$245,110

Up $148,889 (+155%) from 2022

Net Income

Down

$504,872

Down $1,531,882 (-75%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth84th percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2010: $24,182Liabilities 2010: $1,964Net Assets 2010: $22,2182010Assets 2011: $52,773Liabilities 2011: $3,015Net Assets 2011: $49,7582011Assets 2012: $48,426Liabilities 2012: $1,364Net Assets 2012: $47,0622012Assets 2013: $51,855Net Assets 2013: $51,8552013Assets 2014: $60,116Net Assets 2014: $60,1162014Assets 2015: $72,510Net Assets 2015: $72,5102015Assets 2016: $66,017Net Assets 2016: $66,0172016Assets 2019: $31,383Liabilities 2019: $02019Assets 2020: $253,635Liabilities 2020: $404Net Assets 2020: $253,2312020Assets 2021: $581,874Liabilities 2021: $0Net Assets 2021: $581,8742021Assets 2022: $4,718,628Liabilities 2022: $2,100,000Net Assets 2022: $2,618,6282022Assets 2023: $6,162,760Liabilities 2023: $3,039,260Net Assets 2023: $3,123,5002023Assets 2024: $5,983,258Liabilities 2024: $2,423,342Net Assets 2024: $3,559,9162024

Highlighted filing

2023

Assets$6,162,760
Liabilities$3,039,260
Net Assets$3,123,500
Open 2023 Filing

Operations Trend

Revenue Growth4th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2010: $68,838Expenses 2010: $77,116Net Income 2010: -$8,2782010Revenue 2011: $125,292Expenses 2011: $97,752Net Income 2011: $27,5402011Revenue 2012: $124,363Expenses 2012: $127,059Net Income 2012: -$2,6962012Revenue 2013: $80,919Expenses 2013: $76,124Net Income 2013: $4,7952013Revenue 2014: $35,171Expenses 2014: $26,910Net Income 2014: $8,2612014Revenue 2015: $32,929Expenses 2015: $20,534Net Income 2015: $12,3952015Revenue 2016: $11,586Expenses 2016: $18,071Net Income 2016: -$6,4852016Revenue 2019: $62,976Expenses 2019: $78,720Net Income 2019: -$15,7442019Revenue 2020: $463,226Expenses 2020: $241,380Net Income 2020: $221,8462020Revenue 2021: $403,092Expenses 2021: $74,449Net Income 2021: $328,6432021Revenue 2022: $2,132,975Expenses 2022: $96,221Net Income 2022: $2,036,7542022Revenue 2023: $749,982Expenses 2023: $245,110Net Income 2023: $504,8722023Revenue 2024: $699,628Expenses 2024: $263,212Net Income 2024: $436,4162024

Highlighted filing

2023

Revenue$749,982
Expenses$245,110
Net Income$504,872
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jul 16, 2024
Return Version
2023v5.0
Gross Receipts
$909,069
Mission and Program Overview

Mission

Promote the city of hartford, sd

Promote the growth of the city of hartford, sd

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,608,284$5,323,986▲ $1,715,702
Cash and Non-Interest-Bearing Accounts$1,068,978$802,110▼ $266,868
Pledges and Grants Receivable$23,666$36,664▲ $12,998
Total Assets$4,718,628$6,162,760▲ $1,444,132
Other Assets Total$17,700--
Liabilities
Other Liabilities$2,100,000$3,039,260▲ $939,260
Total Liabilities$2,100,000$3,039,260▲ $939,260
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,618,628$3,123,500▲ $504,872
Total Net Assets Fund Balance$2,618,628$3,123,500▲ $504,872
Total Liabilities and Net Assets / Fund Balance$4,718,628$6,162,760▲ $1,444,132

Asset Categories

AssetBook ValueDepreciationBasis
Land$5,323,986-$5,323,986
Compensation and Service Providers
Top Officer Pay22nd percentile

Board Members and Trustees

NameTitle
Justin EichPresident
Eric FoshiemBoard Member
Jeff ZachariasBoard Member
Keith MillerBoard Member
Wyatt HainesBoard Member
Brandon LaneBoard Memebe
Amy FarrDirector
David LarsonSecretary
Blair BathkeTreasurer
Eric BartmannVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$105,488
Program Service Revenue
$286,493
Investment Income
$358,001
Other Revenue
$0
All Other Contributions
$34,250
Change in Net Assets
$504,872
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$240,351
Salaries, Compensation, and Employee Benefits$4,759
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$173,516--$173,516
Fees for Services Other$11,692$9,698-$21,390
Advertising$19,319--$19,319
Fees for Services Accounting-$5,858-$5,858
Occupancy$5,118--$5,118
Fees for Services Legal-$4,802-$4,802
Other Salaries and Wages$4,421--$4,421
Payment Travel Entrtnmnt Publicly Ofcl$3,485--$3,485
Insurance-$2,141-$2,141
Office Expenses$1,952$132-$2,084
Conferences and Meetings$1,900--$1,900
Other Expenses-$738-$738
Payroll Taxes$338--$338
Total Functional Expenses$221,741$23,369$0$245,110
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
Note Payable$3,039,260
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Hartford Area Development
EIN
46-0354618
Phone
6055283338
Address
125 N MAIN AVENUE, HARTFORD, SD 57033

Signing Officer

Name
Justin Eich
Title
President
Phone
6053599710
Signed
2024-07-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Justin Eich
Formed
1979
Legal Domicile
Sd
Voting Board Members
9
Independent Board Members
9
Employees
1

Preparer

Firm
Buss CPA Pc
Address
800 S WESTERN STE B, HARTFORD, SD 57033-0487
Preparer
James J Buss CPA
Phone
6055281670
Supplemental Narrative

Additional Explanations

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

“Promotion of industrial development in city of hartford and surrounding area”

Raw XML Appendix353 raw XML fields

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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PROMOTION OF INDUSTRIAL DEVELOPMENT IN CITY OF HARTFORD AND SURROUNDING AREA
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt04718628
IRS990/TotalAssetsEOYAmt06162760
IRS990/TotalAssetsGrp/BOYAmt04718628
IRS990/TotalAssetsGrp/EOYAmt06162760
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0105488
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt023369
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0221741
IRS990/TotalFunctionalExpensesGrp/TotalAmt0245110
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02100000
IRS990/TotalLiabilitiesEOYAmt03039260
IRS990/TotalLiabilitiesGrp/BOYAmt02100000
IRS990/TotalLiabilitiesGrp/EOYAmt03039260
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02618628
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03123500
IRS990/TotalOtherProgSrvcExpenseAmt0173516
IRS990/TotalProgramServiceExpensesAmt0221741
IRS990/TotalProgramServiceRevenueAmt0286493
IRS990/TotalRevenueGrp/ExclusionAmt013088
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0631406
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0749982
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04718628
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt06162760
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt026208 462ND AVENUE
IRS990/USAddress/CityNm0HARTFORD
IRS990/USAddress/StateAbbreviationCd0SD
IRS990/USAddress/ZIPCd057033
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0HTTPS://HARTFORD.LIFE/
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JUSTIN EICH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06053599710
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-07-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HARTFORD AREA DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0HART
ReturnHeader/Filer/EIN0460354618
ReturnHeader/Filer/PhoneNum06055283338
ReturnHeader/Filer/USAddress/AddressLine1Txt0125 N MAIN AVENUE
ReturnHeader/Filer/USAddress/CityNm0HARTFORD
ReturnHeader/Filer/USAddress/StateAbbreviationCd0SD
ReturnHeader/Filer/USAddress/ZIPCd057033
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0861127753
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BUSS CPA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0800 S WESTERN STE B
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0HARTFORD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0SD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0570330487
ReturnHeader/PreparerPersonGrp/PhoneNum06055281670
ReturnHeader/PreparerPersonGrp/PreparationDt02024-07-16
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JAMES J BUSS CPA
ReturnHeader/ReturnTs02024-07-16T14:25:42-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JUSTIN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0EICH
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

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Filings

Displayed year

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

Open filing
Assets
$6,162,760
Liabilities
$3,039,260
Net assets
$3,123,500
Revenue
$749,982
Expenses
$245,110
Net income
$504,872
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.98$2.42$3.56$0.70$0.26$0.44
2023Detailed filing. Detailed filing data is available for this year.$6.16$3.04$3.12$0.75$0.25$0.50
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.72$2.10$2.62$2.13$0.10$2.04
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.58$0.00$0.58$0.40$0.07$0.33
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.25$0.00$0.25$0.46$0.24$0.22
2019Summary only. Only limited summary data is available for this year.$0.03$0.00$0.06$0.08$0.02
2016Detailed filing. Detailed filing data is available for this year.$0.07$0.07$0.01$0.02$0.01
2015Detailed filing. Detailed filing data is available for this year.$0.07$0.07$0.03$0.02$0.01
2014Detailed filing. Detailed filing data is available for this year.$0.06$0.06$0.04$0.03$0.01
2013Detailed filing. Detailed filing data is available for this year.$0.05$0.05$0.08$0.08$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.05$0.00$0.05$0.12$0.13$0.00
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.05$0.00$0.05$0.13$0.10$0.03
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.02$0.00$0.02$0.07$0.08$0.01