Civic Intelligence

Brookings Economic Development Corporation

990 • Fiscal year 2018 • EIN 46-0440746

Jan 01, 2018 to Dec 31, 2018 • Filed on May 17, 2019

Organization Profilewww.brookingsedc.com

View Organization Page

2301 Research Park Way Suite 113Brookings, SD 57006

(605) 697-8103

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Flat

$4,956,290

Flat from 2018

Net Assets

Flat

$4,860,674

Flat from 2018

Liabilities

Flat

$95,616

Flat from 2018

Revenue And Expenses

Revenue

Flat

$939,800

Flat from 2018

Expenses

Flat

$1,140,101

Flat from 2018

Net Income

Flat

-$200,301

Flat from 2018

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 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

2018

Assets$4,956,290
Liabilities$95,616
Net Assets$4,860,674
Open 2018 Filing

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 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

2018

Revenue$939,800
Expenses$1,140,101
Net Income-$200,301
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
May 17, 2019
Return Version
2018v3.1
Gross Receipts
$939,800
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$1,928,331$1,868,046▼ $60,285
Savings and Temporary Cash Investments$1,007,024$1,181,446▲ $174,422
Pledges and Grants Receivable$1,255,068$948,867▼ $306,201
Cash and Non-Interest-Bearing Accounts$525,461$571,101▲ $45,640
Investments in Publicly Traded Securities$43,440$41,125▼ $2,315
Prepaid Expenses and Deferred Charges$6,283$17,702▲ $11,419
Accounts Receivable$20,406$1,147▼ $19,259
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$5,121,845$4,956,290▼ $165,555
Other Assets Total$335,832$326,856▼ $8,976
Liabilities
Other Liabilities$38,501$58,500▲ $19,999
Accounts Payable and Accrued Expenses$22,369$37,116▲ $14,747
Total Liabilities$60,870$95,616▲ $34,746
Net Assets / Fund Balance
Unrestricted Net Assets$2,550,688$3,657,157▲ $1,106,469
Temporarily Rstr Net Assets$2,510,287$1,203,517▼ $1,306,770
Total Net Assets Fund Balance$5,060,975$4,860,674▼ $200,301
Total Liabilities and Net Assets / Fund Balance$5,121,845$4,956,290▼ $165,555

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,773,565$238,489$2,012,054
Equipment$18,911$119,157$138,068
Land$75,570-$75,570
Other Assets Org$326,856--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Allan HeutonExecutive DirecFT$129,386$8,332$137,718

Board Members and Trustees

NameTitle
Tim PetersPast President
Carla GatzkePresident
Randy HansonVice President
Amiel RedfishDirector
Dan HansenDirector
Jason MerkleyDirector
Jim SchadeDirector
Kevin TetzlaffDirector
Lee Ann PierceDirector
Tim HarveyDirector
Victoria BlatchfordDirector
Will AylorDirector
Andy JohnsonSec/Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$337,097
Program Service Revenue
$321,499
Investment Income
$8,909
Other Revenue
$272,295
All Other Contributions
$90,195
Change in Net Assets
$-200,301

Audited Revenue Reconciliation

Revenue per Audited Statements
$939,800
Total Revenue per Audited Statements
$939,800
Total Revenue per Form 990
$939,800
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$620,022
Salaries, Compensation, and Employee Benefits$400,079
Grants and Similar Amounts Paid$120,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$187,986
Current Officers, Directors, Trustees, and Key Employees---$129,386
Grants to Domestic Orgs$120,000--$120,000
Payroll Taxes---$82,707
Depreciation Depletion---$60,287
All Other Expenses---$53,466
Other Expenses---$42,000
Office Expenses---$31,618
Fees for Services Lobbying---$30,000
Insurance---$11,229
Fees for Services Legal---$4,767
Travel---$2,961
Total Functional Expenses$120,000$0$0$1,140,101

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,140,101
Total Expenses per Audited Statements$1,140,101
Total Expenses per Form 990$1,140,101
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
SDSU Growth PartnershipBrookings, SD-Pass-Through$120,000
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
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
Note Payable$57,500
Deposit Payable$1,000
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
Randy Hanson
Title
Vice President
Signed
2019-05-17
Discuss with paid preparer
Yes

Organization Details

Formed
1995
Legal Domicile
Sd
Voting Board Members
13
Independent Board Members
13
Employees
6

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/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt05060975
IRS990/NetAssetsOrFundBalancesEOYAmt04860674
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt00
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt0109636
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt0109636
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt00
IRS990/OfficeExpensesGrp/TotalAmt031618
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
IRS990/OtherAssetsTotalGrp/BOYAmt0335832
IRS990/OtherAssetsTotalGrp/EOYAmt0326856
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0Program Accounts
IRS990/OtherExpensesGrp/Desc1Special Projects
IRS990/OtherExpensesGrp/Desc2Marketing
IRS990/OtherExpensesGrp/Desc3Program Management
IRS990/OtherExpensesGrp/TotalAmt0221000
IRS990/OtherExpensesGrp/TotalAmt1105073
IRS990/OtherExpensesGrp/TotalAmt257621
IRS990/OtherExpensesGrp/TotalAmt342000
IRS990/OtherLiabilitiesGrp/BOYAmt038501
IRS990/OtherLiabilitiesGrp/EOYAmt058500
IRS990/OtherRevenueMiscGrp/Desc0Loan Fund Income
IRS990/OtherRevenueMiscGrp/Desc1Miscellaneous Income
IRS990/OtherRevenueMiscGrp/Desc2Services
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt03907
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt170028
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt288724
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt03907
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt170028
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt288724
IRS990/OtherRevenueTotalAmt0162659
IRS990/OtherSalariesAndWagesGrp/TotalAmt0187986
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/TotalAmt082707
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt01255068
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0948867
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt06283
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt017702
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0Education Income
IRS990/ProgramServiceRevenueGrp/Desc1Membership Dues & Assessments
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt029499
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1292000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt029499
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1292000
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0378792
IRS990/PYGrantsAndSimilarPaidAmt0220000
IRS990/PYInvestmentIncomeAmt0-12514
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0495377
IRS990/PYOtherRevenueAmt0216429
IRS990/PYProgramServiceRevenueAmt0310910
IRS990/PYRevenuesLessExpensesAmt0-219172
IRS990/PYSalariesCompEmpBnftPaidAmt0397412
IRS990/PYTotalExpensesAmt01112789
IRS990/PYTotalRevenueAmt0893617
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-200301
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/PersonalAmt0109636
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01007024
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01181446
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleC/AgreeCarryoverPriorYearInd0false
IRS990ScheduleC/Form1120POLFiledInd0false
IRS990ScheduleC/OnlyInHouseLobbyingInd0false
IRS990ScheduleC/SubstantiallyAllDuesNondedInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt01773565
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0238489
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02012054
IRS990ScheduleD/EquipmentGrp/BookValueAmt018911
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0119157
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0138068
IRS990ScheduleD/ExpensesSubtotalAmt01140101
IRS990ScheduleD/LandGrp/BookValueAmt075570
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt075570
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0326856
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Note Receivable
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt157500
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Deposit Payable
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Note Payable
IRS990ScheduleD/RevenueSubtotalAmt0939800
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01868046
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0326856
IRS990ScheduleD/TotalExpensesPerForm990Amt01140101
IRS990ScheduleD/TotalLiabilityAmt058500
IRS990ScheduleD/TotalRevenuePerForm990Amt0939800
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0939800
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01140101
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/RecipientTable/CashGrantAmt0120000
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0Pass-Through
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0SDSU Growth Partnership
IRS990ScheduleI/RecipientTable/RecipientEIN0202506183
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt02301 Research Park WaySte 14
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Brookings
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0SD
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd057006
IRS990ScheduleI/Total501c3OrgCnt00
IRS990ScheduleI/TotalOtherOrgCnt01
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The organization monitors and enforces any conflicts that may arise.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0true
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt02510287
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt01203517
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt05121845
IRS990/TotalAssetsEOYAmt04956290

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,956,290
Liabilities
$95,616
Net assets
$4,860,674
Revenue
$939,800
Expenses
$1,140,101
Net income
-$200,301
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
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