Civic Intelligence

Milbank Community Foundation

990 • Fiscal year 2016 • EIN 46-0427565

Jan 01, 2016 to Dec 31, 2016 • Filed on Jul 18, 2017

Organization ProfileWWW.MILBANKCF.ORG

View Organization Page

904 East 4th AvenueMilbank, SD 57252

(605) 432-9000

Siviq Scores

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

Liabilities / Assets

47th percentile

0.08x

Higher debt load relative to assets than 47% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

69th percentile

0.30x

Higher debt load relative to revenue than 69% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

56th percentile

4.1%

Higher net margin than 56% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

49th percentile

$60,717

Higher top officer pay than 49% of similar nonprofits.

Top officer pay equals 6.7% of source-year revenue.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

50th percentile

1.3%

Faster asset growth than 50% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

24th percentile

-9.7%

Faster revenue growth than 24% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets47th percentile

Assets

Up

$3,321,414

Up $41,480 (+1.3%) from 2015

Net Assets

Up

$3,049,971

Up $48,367 (+1.6%) from 2015

Liabilities

Down

$271,443

Down $6,887 (-2.5%) from 2015

Revenue And Expenses
Liabilities / Revenue69th percentileNet Margin56th percentile

Revenue

Down

$911,655

Down $98,242 (-9.7%) from 2015

Expenses

Up

$874,718

Up $73,788 (+9.2%) from 2015

Net Income

Down

$36,937

Down $172,030 (-82%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth50th percentile

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

$20M$15M$10M$5.0M$0Assets 2010: $19,205,269Liabilities 2010: $10,266,919Net Assets 2010: $8,938,3502010Assets 2011: $9,530,635Liabilities 2011: $5,966,696Net Assets 2011: $3,563,9392011Assets 2012: $2,969,398Liabilities 2012: $421,515Net Assets 2012: $2,547,8832012Assets 2013: $2,979,698Liabilities 2013: $277,480Net Assets 2013: $2,702,2182013Assets 2014: $3,076,848Liabilities 2014: $283,028Net Assets 2014: $2,793,8202014Assets 2015: $3,279,934Liabilities 2015: $278,330Net Assets 2015: $3,001,6042015Assets 2016: $3,321,414Liabilities 2016: $271,443Net Assets 2016: $3,049,9712016Assets 2017: $3,334,711Liabilities 2017: $186,724Net Assets 2017: $3,147,9872017Assets 2018: $3,254,859Liabilities 2018: $201,171Net Assets 2018: $3,053,6882018Assets 2019: $3,234,113Liabilities 2019: $214,002Net Assets 2019: $3,020,1112019Assets 2020: $1,419,303Liabilities 2020: $245,513Net Assets 2020: $1,173,7902020Assets 2021: $1,435,565Liabilities 2021: $191,561Net Assets 2021: $1,244,0042021Assets 2022: $0Liabilities 2022: $0Net Assets 2022: $02022

Highlighted filing

2016

Assets$3,321,414
Liabilities$271,443
Net Assets$3,049,971
Open 2016 Filing

Operations Trend

Revenue Growth24th percentile

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

$15M$10M$5.0M$0-$5.0MExpenses 2010: $10,830,1912010Expenses 2011: $14,418,6862011Expenses 2012: $1,869,9892012Revenue 2013: $885,411Expenses 2013: $731,076Net Income 2013: $154,3352013Revenue 2014: $879,050Expenses 2014: $787,448Net Income 2014: $91,6022014Revenue 2015: $1,009,897Expenses 2015: $800,930Net Income 2015: $208,9672015Revenue 2016: $911,655Expenses 2016: $874,718Net Income 2016: $36,9372016Revenue 2017: $822,194Expenses 2017: $842,645Net Income 2017: -$20,4512017Revenue 2018: $850,908Expenses 2018: $909,191Net Income 2018: -$58,2832018Revenue 2019: $781,685Expenses 2019: $853,199Net Income 2019: -$71,5142019Revenue 2020: -$1,001,094Expenses 2020: $850,847Net Income 2020: -$1,851,9412020Revenue 2021: $797,652Expenses 2021: $739,024Net Income 2021: $58,6282021Revenue 2022: $208,053Expenses 2022: $790,265Net Income 2022: -$582,2122022

Highlighted filing

2016

Revenue$911,655
Expenses$874,718
Net Income$36,937
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Jul 18, 2017
Return Version
2016v3.0
Gross Receipts
$995,293
Mission and Program Overview

Mission

The mission of the milbank community foundation is to provide the opportunity for philanthropic investment in our community; demonstrate leadership in the areas of education, social & economic development; & promote the quality of life to the residents of the milbank area.

Charitable and benevolent purposes for the benefit of the residents of milbank, south dakota.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,927,341$1,860,981▼ $66,360
Investments Other Securities$923,000$923,000→ $0
Investments in Publicly Traded Securities$275,473$277,134▲ $1,661
Savings and Temporary Cash Investments$110,758$227,239▲ $116,481
Pledges and Grants Receivable$43,362$33,060▼ $10,302
Total Assets$3,279,934$3,321,414▲ $41,480
Liabilities
Grants Payable$151,475$155,300▲ $3,825
Deferred Revenue$78,114$73,118▼ $4,996
Accounts Payable and Accrued Expenses$48,741$43,025▼ $5,716
Total Liabilities$278,330$271,443▼ $6,887
Net Assets / Fund Balance
Unrestricted Net Assets$2,056,710$2,067,339▲ $10,629
Temporarily Rstr Net Assets$944,894$982,632▲ $37,738
Total Net Assets Fund Balance$3,001,604$3,049,971▲ $48,367
Total Liabilities and Net Assets / Fund Balance$3,279,934$3,321,414▲ $41,480

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,681,837$1,481,850$3,163,687
Equipment$179,144$343,554$522,698
Other Securities$923,000--
Compensation and Service Providers
Top Officer Pay49th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Craig WellnitzFinance DirectorFT$46,163$14,554$60,717

Board Members and Trustees

NameTitle
William SchunemanPast President
Mark LeddyPresident
Gary LindemanVice President
Doug StengelDirector
Greg ThomasDirector
Jeff JonesDirector
Richard LentzDirector
Tana MundwilerDirector
Mark BierschbachSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$443,349
Program Service Revenue
$382,943
Investment Income
$60,625
Other Revenue
$24,738
All Other Contributions
$443,349
Change in Net Assets
$36,937

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Miscellaneous1$50,000Fair Market Value (FMV)
Total Noncash Contributions1$50,000-

Audited Revenue Reconciliation

Revenue per Audited Statements
$911,655
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$11,430
Total Revenue per Audited Statements
$923,085
Total Revenue per Form 990
$911,655
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$328,327
Other Expenses$301,868
Grants and Similar Amounts Paid$244,523
Total Fundraising Expense$34,838
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$233,551$819-$234,370
Grants to Domestic Orgs$227,523--$227,523
Depreciation Depletion$113,672$994-$114,666
Occupancy$74,702$1,434-$76,136
Current Officers, Directors, Trustees, and Key Employees$8,862$27,176$23,041$59,079
Fees for Services Other$29,397$4,005-$33,402
Office Expenses$17,962$3,711-$21,673
All Other Expenses$18,989$660-$19,649
Insurance$14,548$3,418-$17,966
Payroll Taxes$14,963$2,853-$17,816
Grants to Domestic Individuals$17,000--$17,000
Other Employee Benefits$16,375--$16,375
Other Expenses--$11,797$11,797
Advertising$4,164$982-$5,146
Travel$1,150$283-$1,433
Pension Plan Contributions$687--$687
Total Functional Expenses$793,545$46,335$34,838$874,718

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$874,718
Total Expenses per Audited Statements$874,718
Total Expenses per Form 990$874,718
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Central United Methodist ChurchMilbank, SD501(c)(3)Missionary Support$70,000
Grant County Diabetes AssociationMilbank, SD501(c)(3)Medical/human Service$65,000
Unity Square Charitable MembershipMilbank, SD501(c)(3)Medical/human Service$17,000
Milbank Ball Diamond AssociationMilbank, SD501(c)(3)Youth Development$12,000
Milbank Summer Rec ProgramsMilbank, SD501(c)(3)Youth Development$10,000
Lions Swim TeamMilbank, SD501(c)(3)Youth Development$7,000
Milbank Out of School TimeMilbank, SD501(c)(3)Youth Development$7,000
Imagination LibraryMilbank, SD501(c)(3)Youth Development$6,800
Milbank Community TransitMilbank, SD501(c)(3)Medical/human Service$6,000
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
Yes
Backup withholding compliance
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
No
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, Part VI, Section A, Line 1

“The executive board shall be composed of the past chair, the chair, the vice chair, the secretary and treasurer. The duties of the executive board are to develop and monitor policies which manage the affairs of the foundation. The executive board shall meet at least four times per year at the call of the chair.”

Form 990, Part VI, Section B, Line 11B

“The form 990 is reviewed by the executive board members and finance director. A copy is provided to the board of directors prior to filing with the irs.”

Form 990, Part VI, Section B, Line 12C

“Board members and all staff are required to complete a conflict of interest document on an annual basis. Any potential conflicts are reviewed by the board chair. If an individual has a conflict they must remove themselves from discussions and voting.”

Form 990, Part VI, Section B, Line 15B

“The president of the organization is not compensated. Approximately every two years, salaries are compared to data provided by the state for similar positions of the finance director and other management employees. The information is provided to the board, which reviews the compensation and any additional information they feel is needed prior to approving the arrangement. This process last took place in 2015.”

Form 990, Part VI, Section C, Line 19

“A summarized financial statement is made available to the public through the annual report distributed at the annual meeting.”

FORM 990, PART VII:

“The organization did not list a top management official. The executive committee of the board makes all management decisions for the organization.”

Filing and Contact Details

Filer

Filer Name
Milbank Community Foundation
EIN
46-0427565
Phone
6054329000
Address
904 EAST 4TH AVENUE, MILBANK, SD 57252

Signing Officer

Name
Mark Leddy
Title
President
Phone
6054329000
Signed
2017-07-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mark Leddy
Formed
1993
Legal Domicile
Sd
Voting Board Members
9
Independent Board Members
9
Employees
42
Volunteers
75

Preparer

Firm
Eide Bailly Llp
Address
200 EAST 10TH ST PO BOX 5125, SIOUX FALLS, SD 57117-5125
Preparer
Laurie Hanson
Phone
6053391999
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“The foundation is organized as a south dakota nonprofit corporation and has been recognized by the internal revenue service (irs) as exempt from federal income taxes under section 501(a) of the internal revenue code as organizations described in section 501(c)(3). The foundation is annually required to file a return of organization exempt from income tax (form 990) with the irs. In addition, the foundation is subject to income tax on net income that is derived from business activities that are unrelated to their exempt purposes. The foundation has determined it is not subject to unrelated business income tax and has not filed an exempt organization business income tax return (form 990-t) with the irs. The foundation believes it has appropriate support for any tax positions taken affecting its annual filing requirements, and as such, does not have any uncertain tax positions that are material to the financial statements. The foundation would recognize future accrued interest and penalties related to unrecognized tax benefits in income tax expense if incurred.”

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IRS990/MissionDesc0THE MISSION OF THE MILBANK COMMUNITY FOUNDATION IS TO PROVIDE THE OPPORTUNITY FOR PHILANTHROPIC INVESTMENT IN OUR COMMUNITY; DEMONSTRATE LEADERSHIP IN THE AREAS OF EDUCATION, SOCIAL & ECONOMIC DEVELOPMENT; & PROMOTE THE QUALITY OF LIFE TO THE RESIDENTS OF THE MILBANK AREA.
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IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0687
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
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IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/RealAmt024738
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IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0382943
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0110758
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IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02065847
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IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990/ScheduleBRequiredInd01
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt01481850
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IRS990ScheduleD/DisclosedForCharitablePrpsInd01
IRS990ScheduleD/DisclosedOrgLegCtrlInd01
IRS990ScheduleD/DonorAdvisedFundsContriAmt080009
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IRS990ScheduleD/DonorAdvisedFundsHeldCnt08
IRS990ScheduleD/DonorAdvisedFundsVlEOYAmt0301981
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IRS990ScheduleD/FundsAndOtherAccountsHeldCnt010
IRS990ScheduleD/FundsAndOtherAccountsVlEOYAmt0680651
IRS990ScheduleD/NetUnrealizedGainsInvstAmt011430
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt0923000
IRS990ScheduleD/OtherSecuritiesGrp/Desc0PREFERRED STOCK - VALLEY QUEEN CHEESE FACTORY
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/RevenueNotReportedAmt011430
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION IS ORGANIZED AS A SOUTH DAKOTA NONPROFIT CORPORATION AND HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE (IRS) AS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE AS ORGANIZATIONS DESCRIBED IN SECTION 501(C)(3). THE FOUNDATION IS ANNUALLY REQUIRED TO FILE A RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) WITH THE IRS. IN ADDITION, THE FOUNDATION IS SUBJECT TO INCOME TAX ON NET INCOME THAT IS DERIVED FROM BUSINESS ACTIVITIES THAT ARE UNRELATED TO THEIR EXEMPT PURPOSES. THE FOUNDATION HAS DETERMINED IT IS NOT SUBJECT TO UNRELATED BUSINESS INCOME TAX AND HAS NOT FILED AN EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURN (FORM 990-T) WITH THE IRS. THE FOUNDATION BELIEVES IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AFFECTING ITS ANNUAL FILING REQUIREMENTS, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE FOUNDATION WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF INCURRED.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
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IRS990ScheduleI/RecipientTable/IRCSectionDesc2501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc3501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc4501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc5501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc6501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc7501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc8501(C)(3)
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0MEDICAL/HUMAN SERVICE
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1YOUTH DEVELOPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2YOUTH DEVELOPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3MEDICAL/HUMAN SERVICE
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4YOUTH DEVELOPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt5MEDICAL/HUMAN SERVICE
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt6YOUTH DEVELOPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt7MISSIONARY SUPPORT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt8YOUTH DEVELOPMENT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0GRANT COUNTY DIABETES ASSOCIATION
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1MILBANK BALL DIAMOND ASSOCIATION
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2MILBANK OUT OF SCHOOL TIME

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,321,414
Liabilities
$271,443
Net assets
$3,049,971
Revenue
$911,655
Expenses
$874,718
Net income
$36,937
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.00$0.00$0.00$0.21$0.79$0.58
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.44$0.19$1.24$0.80$0.74$0.06
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.42$0.25$1.17$1.00$0.85$1.85
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.23$0.21$3.02$0.78$0.85$0.07
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.25$0.20$3.05$0.85$0.91$0.06
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.33$0.19$3.15$0.82$0.84$0.02
2016Detailed filing. Detailed filing data is available for this year.$3.32$0.27$3.05$0.91$0.87$0.04
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.28$0.28$3.00$1.01$0.80$0.21
2014Detailed filing. Detailed filing data is available for this year.$3.08$0.28$2.79$0.88$0.79$0.09
2013XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.98$0.28$2.70$0.89$0.73$0.15
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.97$0.42$2.55$1.87
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.53$5.97$3.56$14.4
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.2$10.3$8.94$10.8
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2016 filings • 501(c)3 • $1M-$5M nonprofits