Civic Intelligence

Greater Rapid City Area Economic

EIN 46-0414080 • 501(c)6 • Rapid City, SD

Profile

To improve the quality of life and increase personal income levels in the rapid city area by fostering a vital business climate which provides quality new jobs, attracts new business, helps existing business and promotes entrepreneurship.

525 University Loop Suite 101Rapid City, SD 57701

www.rapiddevelopment.com

Siviq Scores

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

Liabilities / Assets

20th percentile

0.01x

Higher debt load relative to assets than 20% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

33rd percentile

0.06x

Higher debt load relative to revenue than 33% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Source year 2017

Net Margin

80th percentile

17%

Higher net margin than 80% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

45th percentile

$119,565

Higher top officer pay than 45% of similar nonprofits.

Top officer pay equals 18.7% of source-year revenue.

501(c)6 • $1M-$5M nonprofits • Source year 2014

Asset Growth

34th percentile

0.7%

Faster asset growth than 34% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

91st percentile

42%

Faster revenue growth than 91% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Assets

Up

$4,774,445

Up $175,016 (+3.8%) from 2017

Liabilities

Up

$237,992

Up $199,245 (+514%) from 2017

Net Assets

Down

$4,536,453

Down $24,229 (-0.5%) from 2017

Revenue

Up

$686,322

Up $40,075 (+6.2%) from 2017

Expenses

Up

$710,552

Up $176,155 (+33%) from 2017

Net Income

Down

-$24,230

Down $136,080 (-122%) from 2017

Trend Graphs

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2010: $4,494,780Liabilities 2010: $73,825Net Assets 2010: $4,420,9552010Assets 2011: $4,232,071Liabilities 2011: $4,183Net Assets 2011: $4,227,8882011Assets 2012: $4,496,826Liabilities 2012: $231,770Net Assets 2012: $4,265,0562012Assets 2013: $4,397,604Liabilities 2013: $122,044Net Assets 2013: $4,275,5602013Assets 2014: $4,487,141Liabilities 2014: $26,772Net Assets 2014: $4,460,3692014Assets 2015: $5,036,389Liabilities 2015: $603,483Net Assets 2015: $4,432,9062015Assets 2016: $4,567,304Liabilities 2016: $118,472Net Assets 2016: $4,448,8322016Assets 2017: $4,599,429Liabilities 2017: $38,747Net Assets 2017: $4,560,6822017Assets 2018: $4,774,445Liabilities 2018: $237,992Net Assets 2018: $4,536,4532018

Highlighted filing

2018

Assets$4,774,445
Liabilities$237,992
Net Assets$4,536,453

Operations Trend

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

$800K$600K$400K$200K$0-$200KExpenses 2010: $641,1652010Expenses 2011: $632,3712011Revenue 2012: $421,241Expenses 2012: $384,073Net Income 2012: $37,1682012Revenue 2013: $409,838Expenses 2013: $399,334Net Income 2013: $10,5042013Revenue 2014: $638,486Expenses 2014: $453,677Net Income 2014: $184,8092014Revenue 2015: $450,904Expenses 2015: $478,367Net Income 2015: -$27,4632015Revenue 2016: $453,543Expenses 2016: $437,617Net Income 2016: $15,9262016Revenue 2017: $646,247Expenses 2017: $534,397Net Income 2017: $111,8502017Revenue 2018: $686,322Expenses 2018: $710,552Net Income 2018: -$24,2302018

Highlighted filing

2018

Revenue$686,322
Expenses$710,552
Net Income-$24,230

Filings

Latest Detailed Filing

The latest 2018 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2014 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Aug 26, 2015
Return Version
2014v5.0
Gross Receipts
$638,486
Mission and Program Overview

Mission

To improve the quality of life and increase personal income levels in the rapid city area by fostering a vital business climate which provides quality new jobs, attracts new business, helps existing business and promotes entrepreneurship.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$2,617,166$2,821,112▲ $203,946
Investments Program Related$1,191,912$947,043▼ $244,869
Cash and Non-Interest-Bearing Accounts$579,443$712,049▲ $132,606
Land, Buildings, and Equipment, Net$6,187$4,238▼ $1,949
Accounts Receivable$2,896$2,699▼ $197
Total Assets$4,397,604$4,487,141▲ $89,537
Liabilities
Escrow Account Liability$119,875$22,500▼ $97,375
Accounts Payable and Accrued Expenses$2,169$4,272▲ $2,103
Total Liabilities$122,044$26,772▼ $95,272
Net Assets / Fund Balance
Unrestricted Net Assets$4,275,560$4,460,369▲ $184,809
Total Net Assets Fund Balance$4,275,560$4,460,369▲ $184,809
Total Liabilities and Net Assets / Fund Balance$4,397,604$4,487,141▲ $89,537

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$4,238$14,024$18,262
Investment Program Related Org$947,043--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Benjamin SnowPresidentFT$107,496$12,069$119,565
Terri HaverlyVice PresideFT$58,080$1,028$59,108

Board Members and Trustees

NameTitle
Steve ConzetChairman
Jim ScullPast Chairma
Shawn GabVice Chairma
Brett LimbaughDirector
David LustDirector
Dick JohnsonDirector
Dr Charles HartDirector
Dr Heather WilsonDirector
Hanie ShafaiDirector
Jerry WrightDirector
Joel BrannanDirector
Lyndell PetersenDirector
Mark WilsonDirector
Marnie HerrmannDirector
Pauline SumptionDirector
Ron BlumDirector
Terry WolterstorffDirector
Tony ClebergDirector
Wayne BaumbergerDirector
Sam KooikerMayor
Brett RiddleSecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$346,960
Program Service Revenue
$0
Investment Income
$48,885
Other Revenue
$242,641
Change in Net Assets
$184,809

Audited Revenue Reconciliation

Revenue per Audited Statements
$638,486
Total Revenue per Audited Statements
$638,486
Total Revenue per Form 990
$638,486
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$260,253
Other Expenses$193,424
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees---$178,673
Conferences and Meetings---$46,988
Occupancy---$46,307
Other Salaries and Wages---$38,505
Advertising---$29,764
Other Employee Benefits---$28,011
Travel---$25,021
Payroll Taxes---$15,064
Office Expenses---$11,548
Fees for Services Accounting---$11,370
Other Expenses---$9,779
Fees for Services Other---$6,881
Insurance---$3,419
Depreciation Depletion---$1,949
Fees for Services Legal---$398
Total Functional Expenses$0$0$0$453,677

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$453,677
Total Expenses per Audited Statements$453,677
Total Expenses per Form 990$453,677
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
In-house lobbying only
Yes
Subject to proxy tax
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
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 6

Local businesses can pay annual dues and be voting members.

Form 990, Page 6, Part VI, Line 7A

Membership elects the the board of directors from a slate presented by the board at our annual meeting.

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

The form 990 is distributed to the board members, discussed and approved at a regular board meeting prior to filing.

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

The organization regularly and consistently monitors and enforces compliance with the conflict of interest policy. The first meeting following the annual board meeting, the board is presented copies of each of the policies.

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

Compensation is determined by comparison to comparable positions, evaluated based on performance, and approved by the board.

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

Compensation is determined by comparison to comparable positions, evaluated based on performance, and approved by the board.

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
Greater Rapid City Area Economic
EIN
46-0414080
Phone
6053431880
Address
525 UNIVERSITY LOOP SUITE 101, RAPID CITY, SD 57701

Signing Officer

Name
Benjamin Snow
Title
President
Phone
6053431880
Signed
2015-08-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Benjamin Snow
Formed
1992
Legal Domicile
Sd
Voting Board Members
16
Independent Board Members
16
Employees
3
Volunteers
16

Preparer

Firm
Ketel Thorstenson Llp
Address
PO BOX 3140, RAPID CITY, SD 57709-3140
Preparer
John B Walker CPA
Phone
6053425630
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

To improve the quality of life and increase personal income levels in the rapid city area by fostering a vital business climate which provides quality new jobs, attracts new business, helps existing business and promotes entrepreneurship.

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

4. Meeting and working with leaders in government, education, and business 5. Speaking to community groups to promote the area 6. Attending select trade shows in targeted industries in turn the above generates interest income from loans to qualifying organizations and administrative fees for those charged for our services.

Financial Statement Notes

Schedule D, Page 3, Part X

At december 31, 2014, the organization believes that no significant uncertain tax positions or liabilities exist. In accordance with the applicable statute of limitations, the organization's tax returns could be audited by the internal revenue service for the years ended december 31, 2011 to 2014.

Raw XML AppendixShowing 400 of 453 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/Form990PartVIISectionAGrp/TitleTxt2MAYOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15SECRETARY/TR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt22VICE PRESIDE
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0NOTES RECEIVABLE
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IRS990ScheduleD/RevenueSubtotalAmt0638486
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0AT DECEMBER 31, 2014, THE ORGANIZATION BELIEVES THAT NO SIGNIFICANT UNCERTAIN TAX POSITIONS OR LIABILITIES EXIST. IN ACCORDANCE WITH THE APPLICABLE STATUTE OF LIMITATIONS, THE ORGANIZATION'S TAX RETURNS COULD BE AUDITED BY THE INTERNAL REVENUE SERVICE FOR THE YEARS ENDED DECEMBER 31, 2011 TO 2014.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO IMPROVE THE QUALITY OF LIFE AND INCREASE PERSONAL INCOME LEVELS IN THE RAPID CITY AREA BY FOSTERING A VITAL BUSINESS CLIMATE WHICH PROVIDES QUALITY NEW JOBS, ATTRACTS NEW BUSINESS, HELPS EXISTING BUSINESS AND PROMOTES ENTREPRENEURSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt14. MEETING AND WORKING WITH LEADERS IN GOVERNMENT, EDUCATION, AND BUSINESS 5. SPEAKING TO COMMUNITY GROUPS TO PROMOTE THE AREA 6. ATTENDING SELECT TRADE SHOWS IN TARGETED INDUSTRIES IN TURN THE ABOVE GENERATES INTEREST INCOME FROM LOANS TO QUALIFYING ORGANIZATIONS AND ADMINISTRATIVE FEES FOR THOSE CHARGED FOR OUR SERVICES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2LOCAL BUSINESSES CAN PAY ANNUAL DUES AND BE VOTING MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MEMBERSHIP ELECTS THE THE BOARD OF DIRECTORS FROM A SLATE PRESENTED BY THE BOARD AT OUR ANNUAL MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE FORM 990 IS DISTRIBUTED TO THE BOARD MEMBERS, DISCUSSED AND APPROVED AT A REGULAR BOARD MEETING PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. THE FIRST MEETING FOLLOWING THE ANNUAL BOARD MEETING, THE BOARD IS PRESENTED COPIES OF EACH OF THE POLICIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6COMPENSATION IS DETERMINED BY COMPARISON TO COMPARABLE POSITIONS, EVALUATED BASED ON PERFORMANCE, AND APPROVED BY THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7COMPENSATION IS DETERMINED BY COMPARISON TO COMPARABLE POSITIONS, EVALUATED BASED ON PERFORMANCE, AND APPROVED BY THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0122044
IRS990/TotalLiabilitiesEOYAmt026772
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