Civic Intelligence

Herreid Economic Development Corporation

990 • Fiscal year 2021 • EIN 46-0412223

Jul 01, 2020 to Jun 30, 2021 • Filed on May 16, 2021

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

36th percentile

0.00x

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

2021 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

36th percentile

0.00x

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

2021 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2021

Net Margin

36th percentile

4.3%

Higher net margin than 36% of similar nonprofits.

2021 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2021

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.

2021 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2021

Asset Growth

33rd percentile

0.1%

Faster asset growth than 33% of similar nonprofits.

2021 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

1st percentile

-87%

Faster revenue growth than 1% of similar nonprofits.

2021 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets36th percentile

Assets

Up

$593,874

Up $733 (+0.1%) from 2020

Net Assets

Up

$593,874

Up $733 (+0.1%) from 2020

Liabilities

Flat

$0

Flat from 2020

Revenue And Expenses
Liabilities / Revenue36th percentileNet Margin36th percentile

Revenue

Down

$13,838

Down $94,010 (-87%) from 2020

Expenses

Down

$13,245

Down $4,577 (-26%) from 2020

Net Income

Down

$593

Down $89,433 (-99%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth33rd 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

2021

Assets$593,874
Liabilities$0
Net Assets$593,874
Open 2021 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

2021

Revenue$13,838
Expenses$13,245
Net Income$593
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 16, 2021
Return Version
2020v4.0
Gross Receipts
$28,838
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
Land, Buildings, and Equipment, Net$308,484$316,039▲ $7,555
Cash and Non-Interest-Bearing Accounts$129,446$139,615▲ $10,169
Other Notes and Loans Receivable, Net$86,417$76,926▼ $9,491
Inventories for Sale or Use$68,794$61,294▼ $7,500
Total Assets$593,141$593,874▲ $733
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$593,141$593,874▲ $733
Total Net Assets Fund Balance$593,141$593,874▲ $733
Total Liabilities and Net Assets / Fund Balance$593,141$593,874▲ $733

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$291,260$38,814$330,074
Other Land Buildings$16,199$122$16,321
Land$8,580-$8,580
Compensation and Service Providers
Top Officer Pay70th percentile

Board Members and Trustees

NameTitle
Kevin WientjesPresident
Gary WeismantelDirector
Melinda NeeleDirector
Sheila Van KurenDirector
Nicole GoehringSecretary
Brad SchuetzelTreasurer
Kayla HuberVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$12,501
Investment Income
$1,225
Other Revenue
$112
Change in Net Assets
$593
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$11,245
Grants and Similar Amounts Paid$2,000
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$8,906--$8,906
Grants to Domestic Individuals$2,000--$2,000
Fees for Services Other$1,652--$1,652
Fees for Services Accounting$575--$575
Fees for Services Legal$64--$64
Office Expenses$48--$48
Total Functional Expenses$13,245$0$0$13,245
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 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
Herreid Economic Development
EIN
46-0412223
Address
PO BOX 22, HERREID, SD 57632

Signing Officer

Name
Kevin Wientjes
Title
President
Phone
6054372294
Signed
2021-05-16

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.”

Form 990, Part IX, Line 11G

“Sd annual renewal 20 0 0 license expense 158 0 0 miscellaneous expense 1,185 0 0 repair & maintenance 289 0 0 total 1,652 0 0”

Form 990, Part XI, Line 9

“Book / tax depreciation difference 140”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4SD ANNUAL RENEWAL 20 0 0 LICENSE EXPENSE 158 0 0 MISCELLANEOUS EXPENSE 1,185 0 0 REPAIR & MAINTENANCE 289 0 0 TOTAL 1,652 0 0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5BOOK / TAX DEPRECIATION DIFFERENCE 140
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
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IRS990/TotalGrossUBIAmt00
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0593874
IRS990/TotalOtherProgSrvcExpenseAmt08717
IRS990/TotalProgramServiceExpensesAmt013245
IRS990/TotalProgramServiceRevenueAmt012501
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt013838
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt013838
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IRS990/USAddress/ZIPCd057632
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/PersonNm0KEVIN WIENTJES
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06054372294
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-05-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HERREID ECONOMIC DEVELOPMENT
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ReturnHeader/Filer/EIN0460412223
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MOBRIDGE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0SD
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ReturnHeader/PreparerPersonGrp/PhoneNum06058453658
ReturnHeader/PreparerPersonGrp/PreparationDt02022-05-16
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CHRISTINE OLSEN
ReturnHeader/ReturnTs02022-05-16T09:06:13-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0KEVIN
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ReturnHeader/TaxPeriodEndDt02021-06-30
ReturnHeader/TaxYr02020

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$593,874
Liabilities
$0
Net assets
$593,874
Revenue
$13,838
Expenses
$13,245
Net income
$593
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