Civic Intelligence

Webster Area Development Corporation Inc.

990 • Fiscal year 2022 • EIN 46-0437892

Jan 01, 2022 to Dec 31, 2022 • Filed on Jun 21, 2023

Organization ProfileN/A
PO Box 6Webster, SD 57274

(605) 345-3639

Siviq Scores

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

Liabilities / Assets

18th percentile

0.00x

Higher debt load relative to assets than 18% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

23rd percentile

0.01x

Higher debt load relative to revenue than 23% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

14th percentile

-20%

Higher net margin than 14% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2022

Asset Growth

43rd percentile

-0.9%

Faster asset growth than 43% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

5th percentile

-59%

Faster revenue growth than 5% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets18th percentile

Assets

Down

$1,663,097

Down $15,667 (-0.9%) from 2021

Net Assets

Down

$1,662,651

Down $16,113 (-1.0%) from 2021

Liabilities

Up

$446

Up $446 from 2021

Revenue And Expenses
Liabilities / Revenue23rd percentileNet Margin14th percentile

Revenue

Down

$80,317

Down $114,909 (-59%) from 2021

Expenses

Up

$96,430

Up $51,507 (+115%) from 2021

Net Income

Down

-$16,113

Down $166,416 (-111%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth43rd percentile

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

$3.0M$2.0M$1.0M$0Assets 2011: $1,456,718Liabilities 2011: $818,974Net Assets 2011: $637,7442011Assets 2012: $1,482,849Liabilities 2012: $701,175Net Assets 2012: $781,6742012Assets 2013: $1,455,766Liabilities 2013: $530,080Net Assets 2013: $925,6862013Assets 2014: $1,412,127Liabilities 2014: $368,848Net Assets 2014: $1,043,2792014Assets 2015: $1,465,537Liabilities 2015: $348,241Net Assets 2015: $1,117,2962015Assets 2016: $1,776,609Liabilities 2016: $374,236Net Assets 2016: $1,402,3732016Assets 2017: $1,709,348Liabilities 2017: $228,951Net Assets 2017: $1,480,3972017Assets 2018: $1,748,505Liabilities 2018: $65,227Net Assets 2018: $1,683,2782018Assets 2019: $1,812,493Liabilities 2019: $51,131Net Assets 2019: $1,761,3622019Assets 2020: $1,528,461Liabilities 2020: $0Net Assets 2020: $1,528,4612020Assets 2021: $1,678,764Liabilities 2021: $0Net Assets 2021: $1,678,7642021Assets 2022: $1,663,097Liabilities 2022: $446Net Assets 2022: $1,662,6512022Assets 2023: $2,378,275Liabilities 2023: $435Net Assets 2023: $2,377,8402023Assets 2024: $2,933,462Liabilities 2024: $600,697Net Assets 2024: $2,332,7652024

Highlighted filing

2022

Assets$1,663,097
Liabilities$446
Net Assets$1,662,651
Open 2022 Filing

Operations Trend

Revenue Growth5th percentile

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

$1.0M$500K$0-$500KRevenue 2011: $254,494Expenses 2011: $136,923Net Income 2011: $117,5712011Expenses 2012: $155,8942012Revenue 2013: $270,895Expenses 2013: $126,883Net Income 2013: $144,0122013Revenue 2014: $254,858Expenses 2014: $137,265Net Income 2014: $117,5932014Revenue 2015: $209,933Expenses 2015: $135,916Net Income 2015: $74,0172015Revenue 2016: $406,757Expenses 2016: $121,681Net Income 2016: $285,0762016Revenue 2017: $203,460Expenses 2017: $131,437Net Income 2017: $72,0232017Revenue 2018: $321,024Expenses 2018: $118,145Net Income 2018: $202,8792018Revenue 2019: $203,365Expenses 2019: $125,281Net Income 2019: $78,0842019Revenue 2020: -$124,897Expenses 2020: $108,004Net Income 2020: -$232,9012020Revenue 2021: $195,226Expenses 2021: $44,923Net Income 2021: $150,3032021Revenue 2022: $80,317Expenses 2022: $96,430Net Income 2022: -$16,1132022Revenue 2023: $821,467Expenses 2023: $106,278Net Income 2023: $715,1892023Revenue 2024: $108,997Expenses 2024: $154,071Net Income 2024: -$45,0742024

Highlighted filing

2022

Revenue$80,317
Expenses$96,430
Net Income-$16,113
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Jun 21, 2023
Return Version
2022v5.0
Gross Receipts
$80,317
Mission and Program Overview

Mission

Promote and develop economic activities in day county

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$715,419$968,922▲ $253,503
Savings and Temporary Cash Investments$959,509$687,695▼ $271,814
Cash and Non-Interest-Bearing Accounts$2,754$6,480▲ $3,726
Other Notes and Loans Receivable, Net$1,082--
Total Assets$1,678,764$1,663,097▼ $15,667
Liabilities
Other Liabilities-$446-
Total Liabilities$0$446▲ $446
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,678,764$1,662,651▼ $16,113
Total Net Assets Fund Balance$1,678,764$1,662,651▼ $16,113
Total Liabilities and Net Assets / Fund Balance$1,678,764$1,663,097▼ $15,667

Asset Categories

AssetBook ValueDepreciationBasis
Land$689,579-$689,579
Other Land Buildings$279,343$64,856$344,199
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Kelly HansonPresident
Amy MillerDirector
Dave HahlerDirector
Jessi HeggDirector
Kathy MelandDirector
Ryan WagnerDirector
Tim McintyreDirector
Tom SannesDirector
Tom WagnerDirector
G Todd GarrySecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$44,950
Program Service Revenue
$34,409
Investment Income
$958
Other Revenue
$0
All Other Contributions
$2,950
Change in Net Assets
$-16,113
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$70,651
Salaries, Compensation, and Employee Benefits$25,779
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$31,083--$31,083
Other Salaries and Wages$24,373--$24,373
Occupancy$20,617--$20,617
Depreciation Depletion$9,529--$9,529
Office Expenses$5,045--$5,045
Fees for Services Accounting$1,965--$1,965
Payroll Taxes$1,406--$1,406
Insurance$1,093--$1,093
Conferences and Meetings$799--$799
Advertising$520--$520
Total Functional Expenses$96,430$0$0$96,430
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll Liab$446
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
Webster Area Development
EIN
46-0437892
Phone
6053453639
Address
PO BOX 6, WEBSTER, SD 57274

Signing Officer

Name
G Todd Garry
Title
Secretary/treas
Phone
6053453639
Signed
2023-06-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kelly Hanson
Legal Domicile
Sd
Voting Board Members
9
Independent Board Members
9
Employees
1

Preparer

Firm
G Todd Garry Public Accountant
Address
513 MAIN ST, WEBSTER, SD 57274-1718
Preparer
G Todd Garry
Phone
6053453639
Supplemental Narrative

Additional Explanations

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

“Promote and develop economic activities in day county”

Form 990, Part IX, Line 11G

“Community promotion 313 0 0 meeting expense 600 0 0 dakota resources fees 23,963 0 0 professional fees 6,207 0 0 total 31,083 0 0”

Raw XML Appendix338 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PROMOTE AND DEVELOP ECONOMIC ACTIVITIES IN DAY COUNTY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMMUNITY PROMOTION 313 0 0 MEETING EXPENSE 600 0 0 DAKOTA RESOURCES FEES 23,963 0 0 PROFESSIONAL FEES 6,207 0 0 TOTAL 31,083 0 0
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ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,663,097
Liabilities
$446
Net assets
$1,662,651
Revenue
$80,317
Expenses
$96,430
Net income
-$16,113
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.93$0.60$2.33$0.11$0.15$0.05
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.38$0.00$2.38$0.82$0.11$0.72
2022Detailed filing. Detailed filing data is available for this year.$1.66$0.00$1.66$0.08$0.10$0.02
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.68$0.00$1.68$0.20$0.04$0.15
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.53$0.00$1.53$0.12$0.11$0.23
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.81$0.05$1.76$0.20$0.13$0.08
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.75$0.07$1.68$0.32$0.12$0.20
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.71$0.23$1.48$0.20$0.13$0.07
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.78$0.37$1.40$0.41$0.12$0.29
2015Detailed filing. Detailed filing data is available for this year.$1.47$0.35$1.12$0.21$0.14$0.07
2014Detailed filing. Detailed filing data is available for this year.$1.41$0.37$1.04$0.25$0.14$0.12
2013Detailed filing. Detailed filing data is available for this year.$1.46$0.53$0.93$0.27$0.13$0.14
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.48$0.70$0.78$0.16
2011Summary only. Only limited summary data is available for this year.$1.46$0.82$0.64$0.25$0.14$0.12