Civic Intelligence

Beadle & Spink Enterprise Community

EIN 46-0438143 • 501(c)3 • Doland, SD

Profile

Rural economic & community development - basec was formed to accept public and private funds to raise the economic welfare, educational levels, and social levels of residents in the basec area. The primary operation is to utilize a broad range of programs and initiatives to promote revitalization of the area under the program areas of business development, farm income development, housing development, and housing preservation. Basec maintains a revolving loan fund funded through grant and loan programs.

209 Humphrey Drive NDoland, SD 57436

www.basec.org

Siviq Scores

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

Liabilities / Assets

72nd percentile

0.36x

Higher debt load relative to assets than 72% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

97th percentile

8.61x

Higher debt load relative to revenue than 97% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

86th percentile

41%

Higher net margin than 86% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

29th percentile

$67,175

Higher top officer pay than 29% of similar nonprofits.

Top officer pay equals 19.7% of source-year revenue.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Asset Growth

63rd percentile

8.6%

Faster asset growth than 63% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

80th percentile

38%

Faster revenue growth than 80% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets72nd percentile

Assets

Up

$8,159,423

Up $647,037 (+8.6%) from 2023

Liabilities

Up

$2,928,996

Up $505,989 (+21%) from 2023

Net Assets

Up

$5,230,427

Up $141,048 (+2.8%) from 2023

Operations
Liabilities / Revenue97th percentileNet Margin86th percentile

Revenue

Up

$340,295

Up $93,663 (+38%) from 2023

Expenses

Down

$199,247

Down $163,694 (-45%) from 2023

Net Income

Up

$141,048

Up $257,357 (+221%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth63rd percentile

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

$10M$5.0M$0Assets 2010: $5,923,596Liabilities 2010: $1,202,225Net Assets 2010: $4,721,3712010Assets 2011: $5,787,732Liabilities 2011: $1,069,594Net Assets 2011: $4,718,1382011Assets 2012: $5,753,893Liabilities 2012: $1,057,892Net Assets 2012: $4,696,0012012Assets 2013: $5,694,453Liabilities 2013: $991,277Net Assets 2013: $4,703,1762013Assets 2014: $5,655,147Liabilities 2014: $952,951Net Assets 2014: $4,702,1962014Assets 2015: $5,475,185Liabilities 2015: $919,381Net Assets 2015: $4,555,8042015Assets 2016: $6,636,915Liabilities 2016: $1,673,164Net Assets 2016: $4,963,7512016Assets 2017: $6,363,073Liabilities 2017: $1,477,589Net Assets 2017: $4,885,4842017Assets 2018: $6,453,966Liabilities 2018: $1,545,932Net Assets 2018: $4,908,0342018Assets 2019: $6,581,466Liabilities 2019: $1,593,562Net Assets 2019: $4,987,9042019Assets 2020: $6,579,098Liabilities 2020: $1,487,427Net Assets 2020: $5,091,6712020Assets 2021: $6,256,564Liabilities 2021: $1,128,497Net Assets 2021: $5,128,0672021Assets 2022: $6,239,975Liabilities 2022: $1,028,287Net Assets 2022: $5,211,6882022Assets 2023: $7,512,386Liabilities 2023: $2,423,007Net Assets 2023: $5,089,3792023Assets 2024: $8,159,423Liabilities 2024: $2,928,996Net Assets 2024: $5,230,4272024

Highlighted filing

2024

Assets$8,159,423
Liabilities$2,928,996
Net Assets$5,230,427
Open 2024 Filing

Operations Trend

Revenue Growth80th percentile

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

$1.0M$500K$0-$500KExpenses 2010: $264,9392010Expenses 2011: $318,9152011Expenses 2012: $332,7742012Revenue 2013: $320,667Expenses 2013: $313,492Net Income 2013: $7,1752013Revenue 2014: $253,041Expenses 2014: $254,021Net Income 2014: -$9802014Revenue 2015: $254,420Expenses 2015: $400,812Net Income 2015: -$146,3922015Revenue 2016: $789,052Expenses 2016: $381,105Net Income 2016: $407,9472016Revenue 2017: $313,995Expenses 2017: $392,262Net Income 2017: -$78,2672017Revenue 2018: $388,722Expenses 2018: $366,172Net Income 2018: $22,5502018Revenue 2019: $330,739Expenses 2019: $250,869Net Income 2019: $79,8702019Revenue 2020: $312,001Expenses 2020: $208,234Net Income 2020: $103,7672020Revenue 2021: $288,903Expenses 2021: $252,507Net Income 2021: $36,3962021Revenue 2022: $291,439Expenses 2022: $207,818Net Income 2022: $83,6212022Revenue 2023: $246,632Expenses 2023: $362,941Net Income 2023: -$116,3092023Revenue 2024: $340,295Expenses 2024: $199,247Net Income 2024: $141,0482024

Highlighted filing

2024

Revenue$340,295
Expenses$199,247
Net Income$141,048
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$8,159,423
Liabilities
$2,928,996
Net assets
$5,230,427
Revenue
$340,295
Expenses
$199,247
Net income
$141,048
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.16$2.93$5.23$0.34$0.20$0.14
2023Summary only. Only limited summary data is available for this year.$7.51$2.42$5.09$0.25$0.36$0.12
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.24$1.03$5.21$0.29$0.21$0.08
2021Summary only. Only limited summary data is available for this year.$6.26$1.13$5.13$0.29$0.25$0.04
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.58$1.49$5.09$0.31$0.21$0.10
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.58$1.59$4.99$0.33$0.25$0.08
2018Summary only. Only limited summary data is available for this year.$6.45$1.55$4.91$0.39$0.37$0.02
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.36$1.48$4.89$0.31$0.39$0.08
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.64$1.67$4.96$0.79$0.38$0.41
2015Detailed filing. Detailed filing data is available for this year.$5.48$0.92$4.56$0.25$0.40$0.15
2014Detailed filing. Detailed filing data is available for this year.$5.66$0.95$4.70$0.25$0.25$0.00
2013Detailed filing. Detailed filing data is available for this year.$5.69$0.99$4.70$0.32$0.31$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.75$1.06$4.70$0.33
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.79$1.07$4.72$0.32
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.92$1.20$4.72$0.26
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 15, 2025
Return Version
2024v5.0
Gross Receipts
$778,444
Mission and Program Overview

Mission

Rural economic & community development - basec was formed to accept public and private funds to raise the economic welfare, educational levels, and social levels of residents in the basec area. The primary operation is to utilize a broad range of programs and initiatives to promote revitalization of the area under the program areas of business development, farm income development, housing development, and housing preservation. Basec maintains a revolving loan fund funded through grant and loan programs.

To promote and support community improvement efforts. Basec's shared vision is that its communities be healthy, vital, and have the capacity to produce results they care about.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$4,664,594$5,774,996▲ $1,110,402
Cash and Non-Interest-Bearing Accounts$2,333,689$2,197,097▼ $136,592
Land, Buildings, and Equipment, Net$144,905$71,459▼ $73,446
Inventories for Sale or Use$311,286$47,050▼ $264,236
Receivables From Officers Etc$29,607$19,511▼ $10,096
Accounts Receivable-$18,106-
Prepaid Expenses and Deferred Charges$3,480$3,480→ $0
Total Assets$7,512,386$8,159,423▲ $647,037
Other Assets Total$24,825$27,724▲ $2,899
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,389,708$2,916,545▲ $526,837
Accounts Payable and Accrued Expenses$8,648$11,241▲ $2,593
Other Liabilities$24,651$1,210▼ $23,441
Total Liabilities$2,423,007$2,928,996▲ $505,989
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,691,463$4,660,426▼ $31,037
Net Assets With Donor Restrictions$397,916$570,001▲ $172,085
Total Net Assets Fund Balance$5,089,379$5,230,427▲ $141,048
Total Liabilities and Net Assets / Fund Balance$7,512,386$8,159,423▲ $647,037

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$64,642$42,391$107,033
Equipment$6,817$57,234$64,051
Compensation and Service Providers
Top Officer Pay29th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Emily RodgersExecutive DiFT$54,000$13,175$67,175

Board Members and Trustees

NameTitle
Leanne BawekPresident
Adam HahlerDirector
Bailey CoatsDirector
James HulbertDirector
Kathy MicheelDirector
Matthew TeelDirector
Tony HaarstadDirector
John TschetterSecretary/tr
Dane LambertVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$330,973
Investment Income
$23,090
Other Revenue
$-13,768
Change in Net Assets
$141,048

Audited Revenue Reconciliation

Revenue per Audited Statements
$340,295
Total Revenue per Audited Statements
$340,295
Total Revenue per Form 990
$340,295
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$137,294
Other Expenses$57,795
Grants and Similar Amounts Paid$4,158
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$63,420$34,150-$97,570
Current Officers, Directors, Trustees, and Key Employees$43,664$23,511-$67,175
Other Salaries and Wages$29,242$15,747-$44,989
Fees for Services Accounting$24,485$13,185-$37,670
Office Expenses$16,492$8,879-$25,371
Other Employee Benefits$10,572$5,692-$16,264
Depreciation Depletion$9,144$4,923-$14,067
Payroll Taxes$4,627$2,492-$7,119
Occupancy$5,410$944-$6,354
Fees for Services Legal$3,555$1,915-$5,470
Fees for Services Other$3,391$1,826-$5,217
Advertising$3,152$1,698-$4,850
Grants to Domestic Orgs$4,158--$4,158
Conferences and Meetings$2,674$1,441-$4,115
Insurance-$1,969-$1,969
Pension Plan Contributions$1,136$611-$1,747
Travel$1,045$563-$1,608
Other Expenses$-128,546$-69,217-$-197,763
Total Functional Expenses$130,964$68,283$0$199,247

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$397,010
Expenses per Audited Statements$199,247
Total Expenses per Form 990$199,247
Expenses Not Reported on Form 990$197,763
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$29,607$19,511▼ $10,096
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Deposits$1,210
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
Other officer compensation reviewed
No
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 11B

“The president of the board of directors reviews the form 990 before it is signed and filed.”

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

“All board members and employees are required to report any conflicts of interest.”

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

“A committee of the board of directors reviews the compensation for the executive director and provides a recommendation based on the south dakota department of labor wage comparability sutdy. The recommendation is approved by the board.”

Form 990, Page 6, Part VI, Line 18

“GUIDESTAR.COM”

Form 990, Page 6, Part VI, Line 19

“ON REQUEST.”

Filing and Contact Details

Filer

Filer Name
Beadle and Spink Enterprise
EIN
46-0438143
Phone
6056356165
Address
209 HUMPHREY DRIVE N, DOLAND, SD 57436

Signing Officer

Name
Emily Rodgers
Title
Executive Director
Phone
6056356165
Signed
2025-10-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Emily Rodgers
Formed
1995
Legal Domicile
Sd
Voting Board Members
8
Independent Board Members
8
Employees
2
Volunteers
9

Preparer

Firm
Wohlenberg Ritzman & Co LLC
Address
PO BOX 1018, YANKTON, SD 57078
Preparer
Kathleen Doyle
Phone
6056654401
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Part I, Line 6

“Board members serve without compensation.”

Form 990, Part X

“In february 2016, the financial accounting standard board (fasb) issued new guidance on the measurement of current expected credit losses (cecl) on financial instruments. The fasb has subsequently issued additional guidance amending certain aspects of the measurement of cecl. The new guidance has replaced the incurred loss methodology of recognizing credit losses on financial instruments with a methodology that estimates the expected credit loss on financial instruments and reflects the new amount expected to be collected on the financial instruments. Basec adopted this change in the accounting principle as of the first day of the fiscal year”

Financial Statement Notes

Schedule D, Page 3, Part X

“Basec is exempt from federal income tax under section 501(c)(3) of the internal revenue code. However, income from certain activities not directly related to basecs tax-exempt purpose is subject to taxation as unrelated business income. Basec believes that it has appropriate support for any tax position taken and as such does not have any uncertain tax positions that are material to the financial statements.”

Schedule D, Page 4, Part XIII

“During the fiscal year ended december 31, 2024, basec adopted accounting standards update (asu) no. 2016-13, financial instruments credit losses (topic 326): measurement of credit losses on financial instruments (commonly referred to as cecl). This new standard replaces the incurred loss methodology for determining the allowance for doubtful accounts with a current expected credit loss model. The cecl model requires the consideration of reasonable and supportable forecasts to estimate lifetime expected credit losses. Basec adopted cecl using the modified retrospective method. As a result, basec reevaluated its allowance for doubtful accounts and determined a reduction of 197,763 in the allowance was necessary. This adjustment also resulted in an increase of 197,763 to the opening balance of equity as of december 31, 2023. These changes are reflected in the accompanying financial statements.”

Raw XML AppendixShowing 400 of 483 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/ActivityOrMissionDesc0TO PROMOTE AND SUPPORT COMMUNITY IMPROVEMENT EFFORTS. BASEC'S SHARED VISION IS THAT ITS COMMUNITIES BE HEALTHY, VITAL, AND HAVE THE CAPACITY TO PRODUCE RESULTS THEY CARE ABOUT.
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IRS990/Desc0BASEC WAS FORMED TO ACCEPT PUBLIC AND PRIVATE FUNDS TO RAISE THE ECONOMIC WELFARE,EDUCATIONAL AND SOCIAL LEVELS OF RESIDENTS IN THE BASEC AREA. BASEC UTILIZES A BROAD RANGE OF PROGRAMS AND INITIATIVES TO PROMOTE REVITALIZATION OF THE AREA UNDER THE PROGRAM AREAS OF BUSINESS DEVELOPMENT, FARM INCOME DEVELOPMENT, HOUSING DEVELOPMENT, AND RURAL DEVELOPMENT. BASEC MAINTAINS A REVOLVING LOAN FUND FUNDED THROUGH GRANT AND LOAN PROGRAMS.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0BASEC IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. HOWEVER, INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO BASECS TAX-EXEMPT PURPOSE IS SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. BASEC BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITION TAKEN AND AS SUCH DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1DURING THE FISCAL YEAR ENDED DECEMBER 31, 2024, BASEC ADOPTED ACCOUNTING STANDARDS UPDATE (ASU) NO. 2016-13, FINANCIAL INSTRUMENTS CREDIT LOSSES (TOPIC 326): MEASUREMENT OF CREDIT LOSSES ON FINANCIAL INSTRUMENTS (COMMONLY REFERRED TO AS CECL). THIS NEW STANDARD REPLACES THE INCURRED LOSS METHODOLOGY FOR DETERMINING THE ALLOWANCE FOR DOUBTFUL ACCOUNTS WITH A CURRENT EXPECTED CREDIT LOSS MODEL. THE CECL MODEL REQUIRES THE CONSIDERATION OF REASONABLE AND SUPPORTABLE FORECASTS TO ESTIMATE LIFETIME EXPECTED CREDIT LOSSES. BASEC ADOPTED CECL USING THE MODIFIED RETROSPECTIVE METHOD. AS A RESULT, BASEC REEVALUATED ITS ALLOWANCE FOR DOUBTFUL ACCOUNTS AND DETERMINED A REDUCTION OF 197,763 IN THE ALLOWANCE WAS NECESSARY. THIS ADJUSTMENT ALSO RESULTED IN AN INCREASE OF 197,763 TO THE OPENING BALANCE OF EQUITY AS OF DECEMBER 31, 2023. THESE CHANGES ARE REFLECTED IN THE ACCOMPANYING FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XIII
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BOARD MEMBERS SERVE WITHOUT COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE PRESIDENT OF THE BOARD OF DIRECTORS REVIEWS THE FORM 990 BEFORE IT IS SIGNED AND FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL BOARD MEMBERS AND EMPLOYEES ARE REQUIRED TO REPORT ANY CONFLICTS OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS THE COMPENSATION FOR THE EXECUTIVE DIRECTOR AND PROVIDES A RECOMMENDATION BASED ON THE SOUTH DAKOTA DEPARTMENT OF LABOR WAGE COMPARABILITY SUTDY. THE RECOMMENDATION IS APPROVED BY THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GUIDESTAR.COM
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6IN FEBRUARY 2016, THE FINANCIAL ACCOUNTING STANDARD BOARD (FASB) ISSUED NEW GUIDANCE ON THE MEASUREMENT OF CURRENT EXPECTED CREDIT LOSSES (CECL) ON FINANCIAL INSTRUMENTS. THE FASB HAS SUBSEQUENTLY ISSUED ADDITIONAL GUIDANCE AMENDING CERTAIN ASPECTS OF THE MEASUREMENT OF CECL. THE NEW GUIDANCE HAS REPLACED THE INCURRED LOSS METHODOLOGY OF RECOGNIZING CREDIT LOSSES ON FINANCIAL INSTRUMENTS WITH A METHODOLOGY THAT ESTIMATES THE EXPECTED CREDIT LOSS ON FINANCIAL INSTRUMENTS AND REFLECTS THE NEW AMOUNT EXPECTED TO BE COLLECTED ON THE FINANCIAL INSTRUMENTS. BASEC ADOPTED THIS CHANGE IN THE ACCOUNTING PRINCIPLE AS OF THE FIRST DAY OF THE FISCAL YEAR
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, PART I, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 18

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