Civic Intelligence

Brookings Economic Development Corporation

990 • Fiscal year 2016 • EIN 46-0440746

Jan 01, 2016 to Dec 31, 2016 • Filed on Jun 28, 2017

2301 Research Park Way Suite 113Brookings, SD 57006

(605) 697-8103

Siviq Scores

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

Liabilities / Assets

12th percentile

0.02x

Higher debt load relative to assets than 12% of similar nonprofits.

2016 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2016

Liabilities / Revenue

11th percentile

0.03x

Higher debt load relative to revenue than 11% of similar nonprofits.

2016 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2016

Net Margin

98th percentile

56%

Higher net margin than 98% of similar nonprofits.

2016 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2016

Top Officer Pay

18th percentile

$135,897

Higher top officer pay than 18% of similar nonprofits.

Top officer pay equals 4.2% of source-year revenue.

2016 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2016

Asset Growth

95th percentile

40%

Faster asset growth than 95% of similar nonprofits.

2016 filings • 501(c)6 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Revenue Growth

98th percentile

107%

Faster revenue growth than 98% of similar nonprofits.

2016 filings • 501(c)6 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Assets

Up

$5,394,226

Up $1,542,375 (+40%) from 2015

Net Assets

Up

$5,280,147

Up $1,818,447 (+53%) from 2015

Liabilities

Down

$114,079

Down $276,072 (-71%) from 2015

Revenue

Up

$3,270,815

Up $1,688,973 (+107%) from 2015

Expenses

Up

$1,452,368

Up $147,774 (+11%) from 2015

Net Income

Up

$1,818,447

Up $1,541,199 (+556%) from 2015

Historical Trend

Balance Sheet Trend

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2011: $1,267,174Liabilities 2011: $515,638Net Assets 2011: $751,5362011Assets 2012: $1,551,558Liabilities 2012: $411,084Net Assets 2012: $1,140,4742012Assets 2013: $2,022,507Liabilities 2013: $23,338Net Assets 2013: $1,999,1692013Assets 2014: $3,484,050Liabilities 2014: $299,598Net Assets 2014: $3,184,4522014Assets 2015: $3,851,851Liabilities 2015: $390,151Net Assets 2015: $3,461,7002015Assets 2016: $5,394,226Liabilities 2016: $114,079Net Assets 2016: $5,280,1472016Assets 2017: $5,121,845Liabilities 2017: $60,870Net Assets 2017: $5,060,9752017Assets 2018: $4,956,290Liabilities 2018: $95,616Net Assets 2018: $4,860,6742018Assets 2019: $4,663,015Liabilities 2019: $83,509Net Assets 2019: $4,579,5062019Assets 2020: $4,327,059Liabilities 2020: $92,377Net Assets 2020: $4,234,6822020Assets 2021: $4,223,331Liabilities 2021: $103,564Net Assets 2021: $4,119,7672021Assets 2022: $6,432,125Liabilities 2022: $192,455Net Assets 2022: $6,239,6702022Assets 2023: $6,222,177Liabilities 2023: $165,017Net Assets 2023: $6,057,1602023Assets 2024: $6,035,353Liabilities 2024: $290,471Net Assets 2024: $5,744,8822024

Highlighted filing

2016

Assets$5,394,226
Liabilities$114,079
Net Assets$5,280,147

Operations Trend

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $724,1222011Expenses 2012: $667,8552012Revenue 2013: $1,315,888Expenses 2013: $847,193Net Income 2013: $468,6952013Revenue 2014: $2,158,684Expenses 2014: $973,401Net Income 2014: $1,185,2832014Revenue 2015: $1,581,842Expenses 2015: $1,304,594Net Income 2015: $277,2482015Revenue 2016: $3,270,815Expenses 2016: $1,452,368Net Income 2016: $1,818,4472016Revenue 2017: $893,617Expenses 2017: $1,112,789Net Income 2017: -$219,1722017Revenue 2018: $939,800Expenses 2018: $1,140,101Net Income 2018: -$200,3012018Revenue 2019: $938,791Expenses 2019: $1,219,959Net Income 2019: -$281,1682019Revenue 2020: $760,659Expenses 2020: $1,105,483Net Income 2020: -$344,8242020Revenue 2021: $828,178Expenses 2021: $943,093Net Income 2021: -$114,9152021Revenue 2022: $2,897,269Expenses 2022: $777,366Net Income 2022: $2,119,9032022Revenue 2023: $778,346Expenses 2023: $960,856Net Income 2023: -$182,5102023Revenue 2024: $861,551Expenses 2024: $1,186,019Net Income 2024: -$324,4682024

Highlighted filing

2016

Revenue$3,270,815
Expenses$1,452,368
Net Income$1,818,447
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Jun 28, 2017
Return Version
2016v3.0
Gross Receipts
$4,324,288
Mission and Program Overview

Mission

Dedicated to serve the Brookings Area by enhancing the economic well-being of the City of Brookings and its surrounding areas and to improve its quality of life and prosperity.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,057,709$2,010,912▼ $46,797
Pledges and Grants Receivable-$1,524,486-
Cash and Non-Interest-Bearing Accounts$1,351,931$1,485,500▲ $133,569
Investments in Publicly Traded Securities$33,300$37,115▲ $3,815
Prepaid Expenses and Deferred Charges$4,519$27,128▲ $22,609
Accounts Receivable$63,485$6,083▼ $57,402
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$3,851,851$5,394,226▲ $1,542,375
Other Assets Total$340,907$303,002▼ $37,905
Liabilities
Other Liabilities$373,554$71,003▼ $302,551
Accounts Payable and Accrued Expenses$16,597$43,076▲ $26,479
Total Liabilities$390,151$114,079▼ $276,072
Net Assets / Fund Balance
Temporarily Rstr Net Assets$1,639,138$2,789,796▲ $1,150,658
Unrestricted Net Assets$1,822,562$2,490,351▲ $667,789
Total Net Assets Fund Balance$3,461,700$5,280,147▲ $1,818,447
Total Liabilities and Net Assets / Fund Balance$3,851,851$5,394,226▲ $1,542,375

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,880,976$131,078$2,012,054
Equipment$54,366$141,138$195,504
Land$75,570-$75,570
Other Assets Org$303,002--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Allan HeutonExecutive DirecFT$128,043$7,854$135,897

Board Members and Trustees

NameTitle
Jason MerkleyPast President
Kevin TetzlaffPresident
Tim PetersVice President
Amiel RedfishDirector
Andy JohnsonDirector
Dan HansenDirector
Julie PuetzDirector
Randy HansonDirector
Ryan KrogmanDirector
Tim HarveyDirector
Victoria BlatchfordDirector
Will AylorDirector
Carla GatzkeSec/Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,815,245
Program Service Revenue
$347,105
Investment Income
$5,993
Other Revenue
$102,472
All Other Contributions
$1,981,342
Change in Net Assets
$1,818,447

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,270,815
Total Revenue per Audited Statements
$3,270,815
Total Revenue per Form 990
$3,270,815
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$769,516
Salaries, Compensation, and Employee Benefits$419,082
Grants and Similar Amounts Paid$263,770
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$263,770--$263,770
Other Salaries and Wages---$217,718
All Other Expenses---$142,607
Current Officers, Directors, Trustees, and Key Employees---$128,043
Payroll Taxes---$73,321
Depreciation Depletion---$67,393
Office Expenses---$44,219
Other Expenses---$41,956
Fees for Services Lobbying---$30,529
Fees for Services Legal---$20,968
Insurance---$10,295
Travel---$3,500
Interest---$1,011
Total Functional Expenses$263,770$0$0$1,452,368

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,452,368
Total Expenses per Audited Statements$1,452,368
Total Expenses per Form 990$1,452,368
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Brookings School DistrictBrookings, SD-Pass-Through$102,519
Prairie AquatechBrookings, SD-Pass-Through$100,000
Boys&Girls Club of BrookingsBrookings, SD-Pass-Through$61,251
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
In-house lobbying only
No
Subject to proxy tax
Yes
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Unearned Revenue, Current Portion$70,000
Deposit Payable$1,000
Rounding$3
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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, Part VI, Line 11B: Form 990 Review Process

The financial statements and tax returns are submitted to the Board of Directors for review and approval, which may or may not occur prior to the filing of the completed tax returns.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

The organization monitors and enforces any conflicts that may arise.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Brookings Economic Development
EIN
46-0440746
Phone
6056978103
Address
2301 Research Park Way Suite 113, Brookings, SD 57006

Signing Officer

Name
Tim Peters
Title
Vice President
Signed
2017-06-28
Discuss with paid preparer
Yes

Organization Details

Formed
1995
Legal Domicile
Sd
Voting Board Members
13
Independent Board Members
13
Employees
9

Preparer

Firm
Kinner & Company Ltd
Address
404 3rd Ave PO Box 690, Brookings, SD 57006
Preparer
Nathan Kinner
Phone
6056922515
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IRS990/LandBldgEquipBasisNetGrp/EOYAmt02010912
IRS990/LandBldgEquipCostOrOtherBssAmt02283128
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IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0Dedicated to serve the Brookings Area by enhancing the economic well-being of the City of Brookings and its surrounding areas and to improve its quality of life and prosperity.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt03461700
IRS990/NetAssetsOrFundBalancesEOYAmt05280147
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt00
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt01607
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt01607
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IRS990/OccupancyGrp/TotalAmt00
IRS990/OfficeExpensesGrp/TotalAmt044219
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IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
IRS990/OtherAssetsTotalGrp/BOYAmt0340907
IRS990/OtherAssetsTotalGrp/EOYAmt0303002
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0Program Accounts
IRS990/OtherExpensesGrp/Desc1Other Expense
IRS990/OtherExpensesGrp/Desc2Program Management
IRS990/OtherExpensesGrp/Desc3Equipment Repairs and Maint
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IRS990/OtherExpensesGrp/TotalAmt1164963
IRS990/OtherExpensesGrp/TotalAmt242000
IRS990/OtherExpensesGrp/TotalAmt341956
IRS990/OtherLiabilitiesGrp/BOYAmt0373554
IRS990/OtherLiabilitiesGrp/EOYAmt071003
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IRS990/OtherRevenueMiscGrp/Desc1Miscellaneous Income
IRS990/OtherRevenueMiscGrp/Desc2Services
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt06865
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt16000
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt288000
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt06865
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt16000
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt288000
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IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/TotalAmt073321
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt01524486
IRS990/PoliticalCampaignActyInd0false
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt055106
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1291999
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0780194
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt075000
IRS990/PYInvestmentIncomeAmt01191
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
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IRS990/PYOtherRevenueAmt0110164
IRS990/PYProgramServiceRevenueAmt0690293
IRS990/PYRevenuesLessExpensesAmt0277248
IRS990/PYSalariesCompEmpBnftPaidAmt0356464
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IRS990/PYTotalRevenueAmt01581842
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IRS990/ReconcilationRevenueExpnssAmt01818447
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/PersonalAmt01607
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt03270815
IRS990/RoyaltiesGrp/TotalAmt00
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
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
IRS990ScheduleC/AgreeCarryoverPriorYearInd0false
IRS990ScheduleC/Form1120POLFiledInd0false
IRS990ScheduleC/OnlyInHouseLobbyingInd0false
IRS990ScheduleC/SubstantiallyAllDuesNondedInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt01880976
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0131078
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02012054
IRS990ScheduleD/EquipmentGrp/BookValueAmt054366
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0141138
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0195504
IRS990ScheduleD/ExpensesSubtotalAmt01452368
IRS990ScheduleD/LandGrp/BookValueAmt075570
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt075570
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0303002
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Note Receivable
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt13
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt270000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Deposit Payable
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Rounding
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Unearned Revenue, Current Portion
IRS990ScheduleD/RevenueSubtotalAmt03270815
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02010912
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0303002
IRS990ScheduleD/TotalExpensesPerForm990Amt01452368
IRS990ScheduleD/TotalLiabilityAmt071003
IRS990ScheduleD/TotalRevenuePerForm990Amt03270815
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt03270815
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01452368
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/RecipientTable/CashGrantAmt061251
IRS990ScheduleI/RecipientTable/CashGrantAmt1102519
IRS990ScheduleI/RecipientTable/CashGrantAmt2100000
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt10
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt20
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0Pass-Through
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1Pass-Through
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2Pass-Through
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Boys&Girls Club of Brookings
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1Brookings School District
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2Prairie Aquatech
IRS990ScheduleI/RecipientTable/RecipientEIN0731630215
IRS990ScheduleI/RecipientTable/RecipientEIN1466000834
IRS990ScheduleI/RecipientTable/RecipientEIN2270249495
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01126 Southland Lane
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt12130 8th Street S
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt2705 32nd Ave S
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Brookings
IRS990ScheduleI/RecipientTable/USAddress/CityNm1Brookings

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$6.04$0.29$5.74$0.86$1.19$0.32
2023Detailed filing. Detailed filing data is available for this year.$6.22$0.17$6.06$0.78$0.96$0.18
2022Detailed filing. Detailed filing data is available for this year.$6.43$0.19$6.24$2.90$0.78$2.12
2021Detailed filing. Detailed filing data is available for this year.$4.22$0.10$4.12$0.83$0.94$0.11
2020Detailed filing. Detailed filing data is available for this year.$4.33$0.09$4.23$0.76$1.11$0.34
2019Detailed filing. Detailed filing data is available for this year.$4.66$0.08$4.58$0.94$1.22$0.28
2018Detailed filing. Detailed filing data is available for this year.$4.96$0.10$4.86$0.94$1.14$0.20
2017Detailed filing. Detailed filing data is available for this year.$5.12$0.06$5.06$0.89$1.11$0.22
2016Detailed filing. Detailed filing data is available for this year.$5.39$0.11$5.28$3.27$1.45$1.82
2015Detailed filing. Detailed filing data is available for this year.$3.85$0.39$3.46$1.58$1.30$0.28
2014Detailed filing. Detailed filing data is available for this year.$3.48$0.30$3.18$2.16$0.97$1.19
2013Detailed filing. Detailed filing data is available for this year.$2.02$0.02$2.00$1.32$0.85$0.47
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.55$0.41$1.14$0.67
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.27$0.52$0.75$0.72
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2016 filings • 501(c)6 • $5M-$10M nonprofits