Civic Intelligence

South Dakota Development Corporation

EIN 46-0404566 • 501(c)6 • Sioux Falls, SD

Profile

The principle objective of the corporaiton shall be to benefit the state of south dakota by fostering increased employment opportunities and expansion of business and industry for the citizens of this state.

196 East 6th Street Suite 200Sioux Falls, SD 57104

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

99th percentile

1.80x

Higher debt load relative to assets than 99% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

95th percentile

0.76x

Higher debt load relative to revenue than 95% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Source year 2024

Net Margin

9th percentile

-20%

Higher net margin than 9% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

78th percentile

17%

Faster asset growth than 78% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

8th percentile

-21%

Faster revenue growth than 8% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets99th percentile

Assets

Up

$213,301

Up $30,953 (+17%) from 2023

Liabilities

Up

$383,773

Up $131,153 (+52%) from 2023

Net Assets

Down

-$170,472

Down $100,200 (-143%) from 2023

Operations
Liabilities / Revenue95th percentileNet Margin9th percentile

Revenue

Down

$505,928

Down $134,255 (-21%) from 2023

Expenses

Up

$606,128

Up $55,666 (+10%) from 2023

Net Income

Down

-$100,200

Down $189,921 (-212%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth78th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$20M$15M$10M$5.0M$0-$5.0MAssets 2011: $16,345,917Liabilities 2011: $0Net Assets 2011: $16,345,9172011Assets 2012: $16,564,651Liabilities 2012: $0Net Assets 2012: $16,564,6512012Assets 2013: $16,695,828Liabilities 2013: $0Net Assets 2013: $16,695,8282013Assets 2014: $14,918,384Liabilities 2014: $0Net Assets 2014: $14,918,3842014Assets 2015: $14,991,064Liabilities 2015: $0Net Assets 2015: $14,991,0642015Assets 2016: $13,451,285Liabilities 2016: $0Net Assets 2016: $13,451,2852016Assets 2017: $13,885,370Liabilities 2017: $0Net Assets 2017: $13,885,3702017Assets 2018: $613,464Liabilities 2018: $3,660Net Assets 2018: $609,8042018Assets 2019: $421,912Liabilities 2019: $22,653Net Assets 2019: $399,2592019Assets 2020: $201,610Liabilities 2020: $7,833Net Assets 2020: $193,7772020Assets 2021: $70,437Liabilities 2021: $103,149Net Assets 2021: -$32,7122021Assets 2022: $115,137Liabilities 2022: $275,130Net Assets 2022: -$159,9932022Assets 2023: $182,348Liabilities 2023: $252,620Net Assets 2023: -$70,2722023Assets 2024: $213,301Liabilities 2024: $383,773Net Assets 2024: -$170,4722024

Highlighted filing

2024

Assets$213,301
Liabilities$383,773
Net Assets-$170,472
Open 2024 Filing

Operations Trend

Revenue Growth8th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$20M$10M$0-$10M-$20MExpenses 2011: $687,2532011Expenses 2012: $2,597,6772012Revenue 2013: $2,446,960Expenses 2013: $442,335Net Income 2013: $2,004,6252013Revenue 2014: $435,631Expenses 2014: $213,075Net Income 2014: $222,5562014Revenue 2015: $276,827Expenses 2015: $204,147Net Income 2015: $72,6802015Revenue 2016: $1,611,705Expenses 2016: $3,151,484Net Income 2016: -$1,539,7792016Revenue 2017: $380,588Expenses 2017: $148,846Net Income 2017: $231,7422017Revenue 2018: $141,740Expenses 2018: $13,417,306Net Income 2018: -$13,275,5662018Revenue 2019: $105,262Expenses 2019: $315,807Net Income 2019: -$210,5452019Revenue 2020: $204,440Expenses 2020: $409,922Net Income 2020: -$205,4822020Revenue 2021: $274,179Expenses 2021: $500,668Net Income 2021: -$226,4892021Revenue 2022: $433,578Expenses 2022: $560,859Net Income 2022: -$127,2812022Revenue 2023: $640,183Expenses 2023: $550,462Net Income 2023: $89,7212023Revenue 2024: $505,928Expenses 2024: $606,128Net Income 2024: -$100,2002024

Highlighted filing

2024

Revenue$505,928
Expenses$606,128
Net Income-$100,200
Open 2024 Filing

Filings

Most recent year

2024 • Form 990XML pending. An XML filing is linked for this year, but detailed extraction is still pending.

Open filing
Assets
$213,301
Liabilities
$383,773
Net assets
-$170,472
Revenue
$505,928
Expenses
$606,128
Net income
-$100,200
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.21$0.38$0.17$0.51$0.61$0.10
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.18$0.25$0.07$0.64$0.55$0.09
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.12$0.28$0.16$0.43$0.56$0.13
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.07$0.10$0.03$0.27$0.50$0.23
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.20$0.01$0.19$0.20$0.41$0.21
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.42$0.02$0.40$0.11$0.32$0.21
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.61$0.00$0.61$0.14$13.4$13.3
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.9$0.00$13.9$0.38$0.15$0.23
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.5$0.00$13.5$1.61$3.15$1.54
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$15.0$0.00$15.0$0.28$0.20$0.07
2014Detailed filing. Detailed filing data is available for this year.$14.9$0.00$14.9$0.44$0.21$0.22
2013Detailed filing. Detailed filing data is available for this year.$16.7$0.00$16.7$2.45$0.44$2.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.6$0.00$16.6$2.60
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.3$0.00$16.3$0.69
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Aug 2, 2023
Return Version
2022v5.0
Gross Receipts
$433,578
Mission and Program Overview

Mission

The principle objective of the corporation shall be to benefit the state of south dakota by fostering increased employment opportunities and expansion of business and industry for the citizens of this state.

The principle objective of the corporaiton shall be to benefit the state of south dakota by fostering increased employment opportunities and expansion of business and industry for the citizens of this state.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$44,399$33,622▼ $10,777
Prepaid Expenses and Deferred Charges$10,195$8,219▼ $1,976
Land, Buildings, and Equipment, Net$15,843$4,680▼ $11,163
Total Assets$70,437$115,137▲ $44,700
Other Assets Total-$68,616-
Liabilities
Other Liabilities$100,000$269,796▲ $169,796
Accounts Payable and Accrued Expenses$3,149$5,334▲ $2,185
Total Liabilities$103,149$275,130▲ $171,981
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-32,712$-159,993▼ $127,281
Total Net Assets Fund Balance$-32,712$-159,993▼ $127,281
Total Liabilities and Net Assets / Fund Balance$70,437$115,137▲ $44,700

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$4,680$34,849$39,529
Other Land Buildings-$11,000$11,000
Other Assets Org$68,616--
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseTotal
Bradley JankordVP of LendinFT$125,944$125,944
Jennifer ObergExecutive DiFT$123,915$123,915

Board Members and Trustees

NameTitle
David MunsonChairman
Luke TibbetsVice Chairma
Alex SoundyDirector
Brent HeinertDirector
Brooke RollagDirector
Dan KolbergDirector
Drew DuncanDirector
Eric ChristiansonDirector
Jeremy KeizerDirector
John SchrammDirector
Joni EkstrumDirector
Julie JohnsonDirector
Kevin WagnerDirector
Kyle PetersDirector
Michelle MaloneyDirector
Randy SnydersDirector
Russel OlsonDirector
Nate EngbersSecretary
Jesse FonkertTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$433,449
Investment Income
$129
Other Revenue
$0
Change in Net Assets
$-127,281
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$362,925
Other Expenses$197,934
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$193,661--$193,661
Current Officers, Directors, Trustees, and Key Employees$74,349$49,566-$123,915
Fees for Services Legal-$46,556-$46,556
Advertising$32,425--$32,425
Payroll Taxes$21,216$3,854-$25,070
Occupancy-$20,450-$20,450
Other Employee Benefits$17,212$3,067-$20,279
Office Expenses-$18,625-$18,625
Insurance$16,301--$16,301
Fees for Services Accounting-$14,561-$14,561
Depreciation Depletion$8,870$2,293-$11,163
Other Expenses$16,935$8,272-$8,272
Travel-$5,953-$5,953
Conferences and Meetings$1,972--$1,972
Fees for Services Other$1,422--$1,422
Total Functional Expenses$384,363$176,496$0$560,859
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Loc$201,180
Operating Lease Liabilities$68,616
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
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 11B

“A copy of form 990 is provided to the board for review and approval prior to filing.”

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

“Directors, employees and consultants of the organization are required to act ethically and exhibit good character. Conflicts are determined based on each transaction discussed by the board. For example, a board member is asked to disclose any potential conflicts on each loan or investment that is presented to the board. Conflicts are reviewed at the board level. After a conflict is deemed to exist, the individual(s) involved must abstain from the discussion and any action related to the issue. The directors are required to sign a statement annually disclosng conflicts as part of the annual report.”

Form 990, Page 6, Part VI, Line 19

“The governing documents, conflict of interest policy, and financial statements are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
South Dakota Development
EIN
46-0404566
Phone
6052751504
Address
196 EAST 6TH STREET SUITE 200, SIOUX FALLS, SD 57104

Signing Officer

Name
Jennifer Oberg
Title
Executive Director
Phone
6052751504
Signed
2023-08-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jennifer Oberg
Formed
1983
Legal Domicile
Sd
Voting Board Members
19
Independent Board Members
19
Employees
4

Preparer

Firm
Elo Prof LLC
Address
118 W 3RD ST, YANKTON, SD 57078-4321
Preparer
Lucas H Hauert CPA
Phone
6056656007
Raw XML AppendixShowing 400 of 430 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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IRS990/ActivityOrMissionDesc0THE PRINCIPLE OBJECTIVE OF THE CORPORAITON SHALL BE TO BENEFIT THE STATE OF SOUTH DAKOTA BY FOSTERING INCREASED EMPLOYMENT OPPORTUNITIES AND EXPANSION OF BUSINESS AND INDUSTRY FOR THE CITIZENS OF THIS STATE.
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IRS990/Desc0SOUTH DAKOTA DEVELOPMENT CORPORATION FURTHERS THE ECONOMIC DEVELOPMENT AND SOCIAL WELFARE OF THE STATE OF SOUTH DAKOTA BY PROMOTING AND ASSISTING THE GROWTH AND DEVELOPMENT OF BUSINESS CONCERNS IN SOUTH DAKOTA, INCLUDING SMALL BUSINESS.
IRS990/DescribedInSection501c3Ind0false
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IRS990/Form990PartVIISectionAGrp/TitleTxt0VP OF LENDIN
IRS990/Form990PartVIISectionAGrp/TitleTxt1EXECUTIVE DI
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt6TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19VICE CHAIRMA
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
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IRS990/MinutesOfCommitteesInd0true
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IRS990/MissionDesc0THE PRINCIPLE OBJECTIVE OF THE CORPORAITON SHALL BE TO BENEFIT THE STATE OF SOUTH DAKOTA BY FOSTERING INCREASED EMPLOYMENT OPPORTUNITIES AND EXPANSION OF BUSINESS AND INDUSTRY FOR THE CITIZENS OF THIS STATE.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF FORM 990 IS PROVIDED TO THE BOARD FOR REVIEW AND APPROVAL PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DIRECTORS, EMPLOYEES AND CONSULTANTS OF THE ORGANIZATION ARE REQUIRED TO ACT ETHICALLY AND EXHIBIT GOOD CHARACTER. CONFLICTS ARE DETERMINED BASED ON EACH TRANSACTION DISCUSSED BY THE BOARD. FOR EXAMPLE, A BOARD MEMBER IS ASKED TO DISCLOSE ANY POTENTIAL CONFLICTS ON EACH LOAN OR INVESTMENT THAT IS PRESENTED TO THE BOARD. CONFLICTS ARE REVIEWED AT THE BOARD LEVEL. AFTER A CONFLICT IS DEEMED TO EXIST, THE INDIVIDUAL(S) INVOLVED MUST ABSTAIN FROM THE DISCUSSION AND ANY ACTION RELATED TO THE ISSUE. THE DIRECTORS ARE REQUIRED TO SIGN A STATEMENT ANNUALLY DISCLOSNG CONFLICTS AS PART OF THE ANNUAL REPORT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TravelGrp/TotalAmt05953
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IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02329 N CAREER AVE SUITE 204
IRS990/USAddress/CityNm0SIOUX FALLS
IRS990/USAddress/StateAbbreviationCd0SD
IRS990/USAddress/ZIPCd057107
IRS990/VotingMembersGoverningBodyCnt019
IRS990/VotingMembersIndependentCnt019
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true

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