Civic Intelligence

Herreid Economic Development Corporation

990 • Fiscal year 2019 • EIN 46-0412223

Jul 01, 2018 to Jun 30, 2019 • Filed on Nov 17, 2020

Organization Profile
PO Box 22Herreid, SD 57632

(605) 437-2294

Siviq Scores

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

Liabilities / Assets

34th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

34th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2019

Net Margin

93rd percentile

66%

Higher net margin than 93% of similar nonprofits.

2019 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

70th percentile

$0

Higher top officer pay than 70% of similar nonprofits.

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

2019 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2019

Asset Growth

20th percentile

-4.9%

Faster asset growth than 20% of similar nonprofits.

2019 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

1st percentile

-85%

Faster revenue growth than 1% of similar nonprofits.

2019 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets34th percentile

Assets

Down

$507,922

Down $26,419 (-4.9%) from 2018

Net Assets

Down

$507,922

Down $26,419 (-4.9%) from 2018

Liabilities

Flat

$0

Flat from 2018

Revenue And Expenses
Liabilities / Revenue34th percentileNet Margin93rd percentile

Revenue

Down

$13,070

Down $73,919 (-85%) from 2018

Expenses

Down

$4,505

Down $17,849 (-80%) from 2018

Net Income

Down

$8,565

Down $56,070 (-87%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth20th percentile

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

$600K$400K$200K$0Assets 2018: $534,341Liabilities 2018: $0Net Assets 2018: $534,3412018Assets 2019: $507,922Liabilities 2019: $0Net Assets 2019: $507,9222019Assets 2020: $593,141Liabilities 2020: $0Net Assets 2020: $593,1412020Assets 2021: $593,874Liabilities 2021: $0Net Assets 2021: $593,8742021Assets 2022: $587,198Liabilities 2022: $0Net Assets 2022: $587,1982022Assets 2023: $548,162Liabilities 2023: $0Net Assets 2023: $548,1622023Assets 2024: $542,747Liabilities 2024: $0Net Assets 2024: $542,7472024

Highlighted filing

2019

Assets$507,922
Liabilities$0
Net Assets$507,922
Open 2019 Filing

Operations Trend

Revenue Growth1st percentile

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

$150K$100K$50K$0-$50KRevenue 2018: $86,989Expenses 2018: $22,354Net Income 2018: $64,6352018Revenue 2019: $13,070Expenses 2019: $4,505Net Income 2019: $8,5652019Revenue 2020: $107,848Expenses 2020: $17,822Net Income 2020: $90,0262020Revenue 2021: $13,838Expenses 2021: $13,245Net Income 2021: $5932021Revenue 2022: $16,900Expenses 2022: $23,438Net Income 2022: -$6,5382022Revenue 2023: $17,212Expenses 2023: $56,248Net Income 2023: -$39,0362023Revenue 2024: $16,015Expenses 2024: $21,430Net Income 2024: -$5,4152024

Highlighted filing

2019

Revenue$13,070
Expenses$4,505
Net Income$8,565
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Nov 17, 2020
Return Version
2018v3.2
Gross Receipts
$17,779
Mission and Program Overview

Mission

The herreid economic development corporation's mission is to promote, assist, encourage and develop the business and economic prosperity in herreid, south dakota and the surrounding area. To encourage new industries and to rehabilitate existing industries, and to promote the agricultural and business development of herreid, south dakota and the surrounding area; to secure grants and other funds in aid of said purposes, and to promote and provide jobs for individuals in herreid, south dakota.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$201,260$219,057▲ $17,797
Cash and Non-Interest-Bearing Accounts$97,644$116,871▲ $19,227
Land, Buildings, and Equipment, Net-$103,200-
Inventories for Sale or Use$235,437$68,794▼ $166,643
Total Assets$534,341$507,922▼ $26,419
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$534,341$507,922▼ $26,419
Total Net Assets Fund Balance$534,341$507,922▼ $26,419
Total Liabilities and Net Assets / Fund Balance$534,341$507,922▼ $26,419

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$103,200$23,826$127,026
Compensation and Service Providers
Top Officer Pay70th percentile

Board Members and Trustees

NameTitle
Robert WeisbeckPresident
Dean SchwartzDirector
Gary WeismantelDirector
Tim PudwillDirector
Lacy FuehrerSecretary
Kevin WientjesTreasurer
Rick QuaschnickVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$4,987
Program Service Revenue
$3,300
Investment Income
$4,776
Other Revenue
$7
All Other Contributions
$4,987
Change in Net Assets
$8,565
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,255
Grants and Similar Amounts Paid$250
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$3,400--$3,400
Grants to Domestic Orgs$250--$250
Fees for Services Legal$213--$213
Travel$132--$132
Other Expenses$10--$10
Total Functional Expenses$4,505$0$0$4,505
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
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
Herreid Economic Development
EIN
46-0412223
Address
PO BOX 22, HERREID, SD 57632

Signing Officer

Name
Robert Weisbeck
Title
President
Phone
6054372294
Signed
2020-11-17

Organization Details

Principal Officer
Kevin Wientjes
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
Kohlman Bierschbach & Anderson Llp
Address
210 EAST GRAND CROSSING, MOBRIDGE, SD 57601-0460
Preparer
Christine Olsen
Phone
6058453658
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The herreid economic development corporation's mission is to promote, assist, encourage and develop the business and economic prosperity in herreid, south dakota and the surrounding area. To encourage new industries and to rehabilitate existing industries, and to promote the agricultural and business development of herreid, south dakota and the surrounding area; to secure grants and other funds in aid of said purposes, and to promote and provide jobs for individuals in herreid, south dakota.”

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

“The herreid economic development corporation's mission is to promote, assist, encourage and develop the business and economic prosperity in herreid, south dakota and the surrounding area. To encourage new industries and to rehabilitate existing industries, and to promote the agricultural and business development of herreid, south dakota and the surrounding area; to secure grants and other funds in aid of said purposes, and to promote and provide jobs for individuals in herreid, south dakota.”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO REVIEW WAS OR WILL BE CONDUCTED.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
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ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HERREID ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0HERR
ReturnHeader/Filer/EIN0460412223
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 22
ReturnHeader/Filer/USAddress/CityNm0HERREID
ReturnHeader/Filer/USAddress/StateAbbreviationCd0SD
ReturnHeader/Filer/USAddress/ZIPCd057632
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0B954ED66724C0F36CB70DA01BA1AC9AA9388C105
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0C88C412426B7CF5725394BF0DD542413E9681BC9
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt069.26.31.190
ReturnHeader/FilingSecurityInformation/IPDt02020-11-18
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm010:03:05
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0KOHLMAN BIERSCHBACH & ANDERSON LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0210 EAST GRAND CROSSING
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MOBRIDGE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0SD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0576010460
ReturnHeader/PreparerPersonGrp/PhoneNum06058453658
ReturnHeader/PreparerPersonGrp/PreparationDt02020-11-18
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CHRISTINE OLSEN
ReturnHeader/ReturnTs02020-11-18T10:03:05-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-07-01
ReturnHeader/TaxPeriodEndDt02019-06-30
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$507,922
Liabilities
$0
Net assets
$507,922
Revenue
$13,070
Expenses
$4,505
Net income
$8,565
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.43$0.00$5.43$0.16$0.21$0.05
2023Detailed filing. Detailed filing data is available for this year.$5.48$0.00$5.48$0.17$0.56$0.39
2022Detailed filing. Detailed filing data is available for this year.$5.87$0.00$5.87$0.17$0.23$0.07
2021Detailed filing. Detailed filing data is available for this year.$5.94$0.00$5.94$0.14$0.13$0.01
2020Detailed filing. Detailed filing data is available for this year.$5.93$0.00$5.93$1.08$0.18$0.90
2019Detailed filing. Detailed filing data is available for this year.$5.08$0.00$5.08$0.13$0.05$0.09
2018Detailed filing. Detailed filing data is available for this year.$5.34$0.00$5.34$0.87$0.22$0.65