Civic Intelligence

First District Development Company

990 • Fiscal year 2018 • EIN 46-0374958

Oct 01, 2017 to Sep 30, 2018 • Filed on Jan 07, 2019

Organization ProfileWWW.1STDISTRICT.ORG
124 1st Ave NWWatertown, SD 57201-6207

(605) 882-5115

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Flat

$3,045,287

Flat from 2018

Net Assets

Flat

$2,430,490

Flat from 2018

Liabilities

Flat

$614,797

Flat from 2018

Revenue And Expenses

Revenue

Flat

$374,676

Flat from 2018

Expenses

Flat

$381,846

Flat from 2018

Net Income

Flat

-$7,170

Flat from 2018

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $3,642,202Liabilities 2011: $2,073,877Net Assets 2011: $1,568,3252011Assets 2012: $3,627,306Liabilities 2012: $1,853,023Net Assets 2012: $1,774,2832012Assets 2013: $3,640,548Liabilities 2013: $1,628,737Net Assets 2013: $2,011,8112013Assets 2014: $3,482,838Liabilities 2014: $1,385,087Net Assets 2014: $2,097,7512014Assets 2015: $3,415,617Liabilities 2015: $1,175,130Net Assets 2015: $2,240,4872015Assets 2016: $3,373,866Liabilities 2016: $1,003,561Net Assets 2016: $2,370,3052016Assets 2017: $3,253,924Liabilities 2017: $816,264Net Assets 2017: $2,437,6602017Assets 2018: $3,045,287Liabilities 2018: $614,797Net Assets 2018: $2,430,4902018Assets 2018: $3,045,287Liabilities 2018: $614,797Net Assets 2018: $2,430,4902018Assets 2019: $3,146,232Liabilities 2019: $546,745Net Assets 2019: $2,599,4872019Assets 2020: $3,367,710Liabilities 2020: $752,320Net Assets 2020: $2,615,3902020Assets 2021: $3,434,055Liabilities 2021: $680,779Net Assets 2021: $2,753,2762021Assets 2022: $3,325,748Liabilities 2022: $533,770Net Assets 2022: $2,791,9782022Assets 2023: $3,356,632Liabilities 2023: $502,177Net Assets 2023: $2,854,4552023Assets 2024: $3,604,020Liabilities 2024: $498,496Net Assets 2024: $3,105,5242024Assets 2025: $0Liabilities 2025: $0Net Assets 2025: $02025

Highlighted filing

2018

Assets$3,045,287
Liabilities$614,797
Net Assets$2,430,490
Open 2018 Filing

Operations Trend

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

$4.0M$2.0M$0-$2.0M-$4.0MRevenue 2011: $392,356Expenses 2011: $264,789Net Income 2011: $127,5672011Expenses 2012: $289,4262012Expenses 2013: $312,8582013Revenue 2014: $443,759Expenses 2014: $357,819Net Income 2014: $85,9402014Revenue 2015: $501,535Expenses 2015: $358,799Net Income 2015: $142,7362015Revenue 2016: $402,223Expenses 2016: $272,405Net Income 2016: $129,8182016Revenue 2017: $367,167Expenses 2017: $299,812Net Income 2017: $67,3552017Revenue 2018: $374,676Expenses 2018: $381,846Net Income 2018: -$7,1702018Revenue 2018: $374,676Expenses 2018: $381,846Net Income 2018: -$7,1702018Revenue 2019: $492,396Expenses 2019: $323,399Net Income 2019: $168,9972019Revenue 2020: $423,442Expenses 2020: $407,539Net Income 2020: $15,9032020Revenue 2021: $495,328Expenses 2021: $357,441Net Income 2021: $137,8872021Revenue 2022: $430,953Expenses 2022: $392,251Net Income 2022: $38,7022022Revenue 2023: $421,878Expenses 2023: $359,401Net Income 2023: $62,4772023Revenue 2024: $590,537Expenses 2024: $339,468Net Income 2024: $251,0692024Revenue 2025: $81,550Expenses 2025: $3,187,074Net Income 2025: -$3,105,5242025

Highlighted filing

2018

Revenue$374,676
Expenses$381,846
Net Income-$7,170
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2017 to Sep 30, 2018
Signed
Jan 7, 2019
Return Version
2017v2.3
Gross Receipts
$374,676
Mission and Program Overview

Mission

Provide assistance and consultation to loan applicants

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$2,704,866$2,530,148▼ $174,718
Other Notes and Loans Receivable, Net$520,587$486,393▼ $34,194
Accounts Receivable$19,580$19,435▼ $145
Land, Buildings, and Equipment, Net$2,806$3,246▲ $440
Total Assets$3,253,924$3,045,287▼ $208,637
Other Assets Total$6,085$6,065▼ $20
Liabilities
Mortgage Notes Payable Secured by Investment Property$774,872$591,328▼ $183,544
Accounts Payable and Accrued Expenses$41,392$23,469▼ $17,923
Total Liabilities$816,264$614,797▼ $201,467
Net Assets / Fund Balance
Unrestricted Net Assets$1,494,066$1,511,410▲ $17,344
Temporarily Rstr Net Assets$943,594$919,080▼ $24,514
Total Net Assets Fund Balance$2,437,660$2,430,490▼ $7,170
Total Liabilities and Net Assets / Fund Balance$3,253,924$3,045,287▼ $208,637

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$3,246$29,430$32,676
Compensation and Service Providers

Board Members and Trustees

NameTitle
Ben HansonPresident
Bobbie BohlenV President
Al HeutonDirector
Clara LuvaasDirector
Jon KnuthsDirector
Kimberly BanksDirector
Lyle GrenzDirector
Michelle KakacekDirector
Paul MooreDirector
Paula HulscherExecutive VP
Tim WalterSecretary
Earl PophamTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$354,972
Investment Income
$19,329
Other Revenue
$375
Change in Net Assets
$-7,170
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$227,380
Other Expenses$154,466
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$200,982--$200,982
Travel$23,253--$23,253
Payroll Taxes$15,163--$15,163
Fees for Services Accounting$14,613--$14,613
Pension Plan Contributions$11,235--$11,235
Office Expenses$10,982--$10,982
Advertising$9,774--$9,774
Occupancy$7,860--$7,860
Information Technology$6,879--$6,879
Insurance$6,611--$6,611
Interest$6,052--$6,052
Other Expenses$3,158--$3,158
Depreciation Depletion$1,804--$1,804
All Other Expenses$45--$45
Total Functional Expenses$381,846$0$0$381,846
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
Annual disclosure for covered persons
Yes
Audit committee
No
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
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 9

“Paul moore 202 w. Hwy 28 hartford, sd 57033 ben hanson 45674 112th street sisseton, sd 57262 tim walter po box 1000 watertown, sd 57201 earl popham po box 27 estelline, sd 57234 jon knuths po box 327 madison, sd 57042 kimberly banks 8113 s seven oaks dr sioux falls, sd 57108 al heuton 2301 research park way suite 113 brookings, sd 57006 bobbie bohlen 1001 east 4th avenue milbank, sd 57252 michelle kakacek po box 332 watertown, sd 57201 clara luvaas 42450 160th st bradley, sd 57217 lyle grenz 600 s tayberry ave sioux falls, sd 57106”

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

“The executive vice president reviewed the form 990 before it was filed.”

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

“Conflicts of interest are reviewed with each loan application request. A checklist is used to determine whether any employee, director, or officer has any real or apparent conflict of interest with the applicant.”

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

“Compensation process for executive vice president (top management official) includes review and approval by the personnel committee of the fddc board of directors annually. Review of performance and comparison data are included in this process.”

Form 990, Page 6, Part VI, Line 19

“The organization makes its governing documents and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
First District Development Company
EIN
46-0374958
Phone
6058825115
Address
124 1ST AVE NW, WATERTOWN, SD 57201-6207

Signing Officer

Name
Paula Hulscher
Title
Executive VP
Phone
6088825115
Signed
2019-01-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Paula Hulscher
Formed
1982
Legal Domicile
Sd
Voting Board Members
11
Independent Board Members
11
Employees
0

Preparer

Firm
William Neale & Co Pc
Address
304 9TH AVE SE PO BOX 490, WATERTOWN, SD 57201-0490
Preparer
Troy a Hieb
Phone
6058866028
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IRS990ScheduleA/InvestmentIncomePYPct00.05000
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IRS990ScheduleA/PublicSupportPY509Pct00.95240
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IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt02089360
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt03246
IRS990ScheduleD/EquipmentGrp/DepreciationAmt029430
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt032676
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03246
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PAUL MOORE 202 W. HWY 28 HARTFORD, SD 57033 BEN HANSON 45674 112TH STREET SISSETON, SD 57262 TIM WALTER PO BOX 1000 WATERTOWN, SD 57201 EARL POPHAM PO BOX 27 ESTELLINE, SD 57234 JON KNUTHS PO BOX 327 MADISON, SD 57042 KIMBERLY BANKS 8113 S SEVEN OAKS DR SIOUX FALLS, SD 57108 AL HEUTON 2301 RESEARCH PARK WAY SUITE 113 BROOKINGS, SD 57006 BOBBIE BOHLEN 1001 EAST 4TH AVENUE MILBANK, SD 57252 MICHELLE KAKACEK PO BOX 332 WATERTOWN, SD 57201 CLARA LUVAAS 42450 160TH ST BRADLEY, SD 57217 LYLE GRENZ 600 S TAYBERRY AVE SIOUX FALLS, SD 57106
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE EXECUTIVE VICE PRESIDENT REVIEWED THE FORM 990 BEFORE IT WAS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CONFLICTS OF INTEREST ARE REVIEWED WITH EACH LOAN APPLICATION REQUEST. A CHECKLIST IS USED TO DETERMINE WHETHER ANY EMPLOYEE, DIRECTOR, OR OFFICER HAS ANY REAL OR APPARENT CONFLICT OF INTEREST WITH THE APPLICANT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPENSATION PROCESS FOR EXECUTIVE VICE PRESIDENT (TOP MANAGEMENT OFFICIAL) INCLUDES REVIEW AND APPROVAL BY THE PERSONNEL COMMITTEE OF THE FDDC BOARD OF DIRECTORS ANNUALLY. REVIEW OF PERFORMANCE AND COMPARISON DATA ARE INCLUDED IN THIS PROCESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
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ReturnHeader/BusinessOfficerGrp/PhoneNum06088825115
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-01-07
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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
$3,045,287
Liabilities
$614,797
Net assets
$2,430,490
Revenue
$374,676
Expenses
$381,846
Net income
-$7,170
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.00$0.00$0.00$0.08$3.19$3.11
2024Summary only. Only limited summary data is available for this year.$3.60$0.50$3.11$0.59$0.34$0.25
2023Summary only. Only limited summary data is available for this year.$3.36$0.50$2.85$0.42$0.36$0.06
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.33$0.53$2.79$0.43$0.39$0.04
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.43$0.68$2.75$0.50$0.36$0.14
2020Summary only. Only limited summary data is available for this year.$3.37$0.75$2.62$0.42$0.41$0.02
2019Summary only. Only limited summary data is available for this year.$3.15$0.55$2.60$0.49$0.32$0.17
2018Detailed filing. Detailed filing data is available for this year.$3.05$0.61$2.43$0.37$0.38$0.01
2018Summary only. Only limited summary data is available for this year.$3.05$0.61$2.43$0.37$0.38$0.01
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.25$0.82$2.44$0.37$0.30$0.07
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.37$1.00$2.37$0.40$0.27$0.13
2015Detailed filing. Detailed filing data is available for this year.$3.42$1.18$2.24$0.50$0.36$0.14
2014Detailed filing. Detailed filing data is available for this year.$3.48$1.39$2.10$0.44$0.36$0.09
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.64$1.63$2.01$0.31
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.63$1.85$1.77$0.29
2011Summary only. Only limited summary data is available for this year.$3.64$2.07$1.57$0.39$0.26$0.13