Civic Intelligence

Beadle & Spink Enterprise Community Inc.

990 • Fiscal year 2022 • EIN 46-0438143

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 15, 2023

Organization ProfileWWW.BASEC.ORG
PO Box 45Doland, SD 57436-0405

(605) 635-6165

Siviq Scores

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

Liabilities / Assets

56th percentile

0.16x

Higher debt load relative to assets than 56% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

93rd percentile

3.53x

Higher debt load relative to revenue than 93% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Net Margin

78th percentile

29%

Higher net margin than 78% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Asset Growth

46th percentile

-0.3%

Faster asset growth than 46% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

43rd percentile

0.9%

Faster revenue growth than 43% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets56th percentile

Assets

Down

$6,239,975

Down $16,589 (-0.3%) from 2021

Net Assets

Up

$5,211,688

Up $83,621 (+1.6%) from 2021

Liabilities

Down

$1,028,287

Down $100,210 (-8.9%) from 2021

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin78th percentile

Revenue

Up

$291,439

Up $2,536 (+0.9%) from 2021

Expenses

Down

$207,818

Down $44,689 (-18%) from 2021

Net Income

Up

$83,621

Up $47,225 (+130%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth46th percentile

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

$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

2022

Assets$6,239,975
Liabilities$1,028,287
Net Assets$5,211,688
Open 2022 Filing

Operations Trend

Revenue Growth43rd percentile

Revenue, expenses, and net income across loaded years, with this 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

2022

Revenue$291,439
Expenses$207,818
Net Income$83,621
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 15, 2023
Return Version
2022v5.0
Gross Receipts
$300,314
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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$4,571,803$3,929,090▼ $642,713
Cash and Non-Interest-Bearing Accounts$636,189$1,192,625▲ $556,436
Savings and Temporary Cash Investments$863,746$771,296▼ $92,450
Land, Buildings, and Equipment, Net$89,547$152,175▲ $62,628
Receivables From Officers Etc$45,169$35,275▼ $9,894
Prepaid Expenses and Deferred Charges$3,131$3,503▲ $372
Total Assets$6,256,564$6,239,975▼ $16,589
Other Assets Total$46,979$156,011▲ $109,032
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,098,921$1,006,745▼ $92,176
Other Liabilities$20,313$18,065▼ $2,248
Accounts Payable and Accrued Expenses$9,263$3,477▼ $5,786
Total Liabilities$1,128,497$1,028,287▼ $100,210
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,648,955$4,731,008▲ $82,053
Net Assets With Donor Restrictions$479,112$480,680▲ $1,568
Total Net Assets Fund Balance$5,128,067$5,211,688▲ $83,621
Total Liabilities and Net Assets / Fund Balance$6,256,564$6,239,975▼ $16,589

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$78,913$28,121$107,034
Buildings$62,174$3,692$65,866
Equipment$10,088$48,257$58,345
Land$1,000-$1,000
Compensation and Service Providers
Top Officer Pay22nd percentile

Board Members and Trustees

NameTitle
Leanne BawekPresident
Bailey CoatsDirector
Jim HulbertDirector
Kathy MicheelDirector
Shelly BingerDirector
Tony HaarstadDirector
John TschetterSecretary/tr
Dane LambertVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$33,500
Program Service Revenue
$253,939
Investment Income
$1,590
Other Revenue
$2,410
All Other Contributions
$33,500
Change in Net Assets
$83,621

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
Real Estate Residential1$33,500Appraisal
Total Noncash Contributions1$33,500-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$115,326
Salaries, Compensation, and Employee Benefits$92,492
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$48,156$18,727-$66,883
Other Employee Benefits$14,322$5,570-$19,892
Fees for Services Accounting$9,483$3,688-$13,171
Depreciation Depletion$7,493--$7,493
Other Expenses$5,055$1,966-$7,021
Occupancy$4,801$1,867-$6,668
Advertising$4,291$1,669-$5,960
Office Expenses$3,742$1,455-$5,197
Insurance-$4,896-$4,896
Payroll Taxes$2,654$1,032-$3,686
Travel$2,187$851-$3,038
Pension Plan Contributions$1,462$569-$2,031
Conferences and Meetings$1,101$428-$1,529
Fees for Services Legal$750$292-$1,042
All Other Expenses$-19,834$3,089-$-16,745
Total Functional Expenses$147,629$60,189$0$207,818
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$45,169$35,275▼ $9,894
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Cash Bal. Held on Behalf of Others$18,065
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
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 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 in terest if they were to occur. The executive director and board members kee p tabs on any possible areas where conflicts of interest could arise.”

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

“A committee of the board of directors review the compensation for executiv e director and provide a recommendation, based upon the south dakota depar tment of labor wage comparability study, to the board of directors for app roval.”

Form 990, Page 6, Part VI, Line 19

“Our governing documents, conflict of interest policy and financial stateme nts are available for inspection by the general public upon request in our office.”

Filing and Contact Details

Filer

Filer Name
Beadle & Spink Enterprise Community
EIN
46-0438143
Phone
6056356165
Address
PO BOX 45, DOLAND, SD 57436-0405

Signing Officer

Name
Leanne Bawek
Title
President
Phone
6056356165
Signed
2023-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Leanne Bawek
Formed
1995
Legal Domicile
Sd
Voting Board Members
8
Independent Board Members
8
Employees
4

Preparer

Firm
Snow Huether & Coyle
Address
1620 DAKOTA AVE S PO BOX 837, HURON, SD 57350-0837
Preparer
Jason F Rubish
Phone
6053528719
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S 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.”

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IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt014322
IRS990/OtherEmployeeBenefitsGrp/TotalAmt019892
IRS990/OtherExpensesGrp/Desc0CONSULTANT
IRS990/OtherExpensesGrp/Desc1DAKOTA RESOURCES INTEREST
IRS990/OtherExpensesGrp/Desc2REED INTEREST EXPENSE
IRS990/OtherExpensesGrp/Desc3FEES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt014090
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt11966
IRS990/OtherExpensesGrp/ProgramServicesAmt036233
IRS990/OtherExpensesGrp/ProgramServicesAmt118500
IRS990/OtherExpensesGrp/ProgramServicesAmt27233
IRS990/OtherExpensesGrp/ProgramServicesAmt35055
IRS990/OtherExpensesGrp/TotalAmt050323
IRS990/OtherExpensesGrp/TotalAmt118500
IRS990/OtherExpensesGrp/TotalAmt27233
IRS990/OtherExpensesGrp/TotalAmt37021
IRS990/OtherLiabilitiesGrp/BOYAmt020313
IRS990/OtherLiabilitiesGrp/EOYAmt018065
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt018727
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt048156
IRS990/OtherSalariesAndWagesGrp/TotalAmt066883
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt04571803
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt03929090
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt01032
IRS990/PayrollTaxesGrp/ProgramServicesAmt02654
IRS990/PayrollTaxesGrp/TotalAmt03686
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt0569
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt01462
IRS990/PensionPlanContributionsGrp/TotalAmt02031
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt03131
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt03503
IRS990/PrincipalOfficerNm0LEANNE BAWEK
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0INTEREST FROM LOAN
IRS990/ProgramServiceRevenueGrp/Desc1MISCELLANEOUS INCOME
IRS990/ProgramServiceRevenueGrp/Desc2MANAGEMENT FEE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0234364
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt110131
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt29444
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0234364
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt110131
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt29444
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt014005
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0-31532
IRS990/PYOtherExpensesAmt0117168
IRS990/PYOtherRevenueAmt08385
IRS990/PYProgramServiceRevenueAmt0298045
IRS990/PYRevenuesLessExpensesAmt036396
IRS990/PYSalariesCompEmpBnftPaidAmt0135339
IRS990/PYTotalExpensesAmt0252507
IRS990/PYTotalRevenueAmt0288903
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt045169
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt035275
IRS990/ReconcilationRevenueExpnssAmt083621
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt02410
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0254929
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0863746
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0771296
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt033500
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt014005
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt06500
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt05500
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt068976
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0128481
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt01536003
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct01.00000
IRS990ScheduleA/PublicSupportPY170Pct01.00000
IRS990ScheduleA/PublicSupportTotal170Amt0128481
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt033500
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt014005
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt06500
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt05500
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt068976
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0128481
IRS990ScheduleA/TotalSupportAmt0128481
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt062174
IRS990ScheduleD/BuildingsGrp/DepreciationAmt03692
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt065866
IRS990ScheduleD/EquipmentGrp/BookValueAmt010088
IRS990ScheduleD/EquipmentGrp/DepreciationAmt048257
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt058345
IRS990ScheduleD/LandGrp/BookValueAmt01000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01000
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt078913
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt028121
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0107034
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt018065
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CASH BAL. HELD ON BEHALF OF OTHERS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0152175
IRS990ScheduleD/TotalLiabilityAmt018065
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt015979
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt115149
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt24147
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd1true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd2true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd1false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd2false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd1X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd2X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0HOME MORTGAGE
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt1HOME ENHANCEMENT
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt2HOME MORTGAGE
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt029259
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt118506
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt247000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0BAILEY COATS - HOME MORTGAGE
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm1BAILEY COATS - HOME ENHANCEMENT
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm2JOHN TSCHETTER - HOME MORTGAGE
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0DIRECTOR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt1DIRECTOR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt2DIRECTOR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd1true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd2true
IRS990ScheduleL/TotalBalanceDueAmt035275
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd0false
IRS990ScheduleM/RealEstateResidentialGrp/ContributionCnt01
IRS990ScheduleM/RealEstateResidentialGrp/MethodOfDeterminingRevenuesTxt0APPRAISAL
IRS990ScheduleM/RealEstateResidentialGrp/NonCashCheckboxInd0X
IRS990ScheduleM/RealEstateResidentialGrp/NoncashContributionsRptF990Amt033500
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd0false
IRS990ScheduleM/ThirdPartiesUsedInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0RURAL 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE PRESIDENT OF THE BOARD OF DIRECTORS REVIEWS FORM 990 BEFORE IT IS SIGNED AND FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL BOARD MEMBERS AND EMPLOYEES ARE REQUIRED TO REPORT ANY CONFLICTS OF IN TEREST IF THEY WERE TO OCCUR. THE EXECUTIVE DIRECTOR AND BOARD MEMBERS KEE P TABS ON ANY POSSIBLE AREAS WHERE CONFLICTS OF INTEREST COULD ARISE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A COMMITTEE OF THE BOARD OF DIRECTORS REVIEW THE COMPENSATION FOR EXECUTIV E DIRECTOR AND PROVIDE A RECOMMENDATION, BASED UPON THE SOUTH DAKOTA DEPAR TMENT OF LABOR WAGE COMPARABILITY STUDY, TO THE BOARD OF DIRECTORS FOR APP ROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4OUR GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEME NTS ARE AVAILABLE FOR INSPECTION BY THE GENERAL PUBLIC UPON REQUEST IN OUR OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt06256564
IRS990/TotalAssetsEOYAmt06239975
IRS990/TotalAssetsGrp/BOYAmt06256564
IRS990/TotalAssetsGrp/EOYAmt06239975
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt033500
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt060189
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0147629
IRS990/TotalFunctionalExpensesGrp/TotalAmt0207818
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01128497
IRS990/TotalLiabilitiesEOYAmt01028287
IRS990/TotalLiabilitiesGrp/BOYAmt01128497

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$6,239,975
Liabilities
$1,028,287
Net assets
$5,211,688
Revenue
$291,439
Expenses
$207,818
Net income
$83,621
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
2022Detailed filing. Detailed filing data is available for this year.$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