Civic Intelligence

West River Foundation for Economic and Community Development

990 • Fiscal year 2016 • EIN 46-0457322

Jul 01, 2015 to Jun 30, 2016 • Filed on Dec 13, 2016

PO Box 605Sturgis, SD 57785

(605) 347-4467

Siviq Scores

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

Liabilities / Assets

92nd percentile

0.84x

Higher debt load relative to assets than 92% of similar nonprofits.

2016 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

98th percentile

9.64x

Higher debt load relative to revenue than 98% of similar nonprofits.

2016 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2016

Net Margin

98th percentile

57%

Higher net margin than 98% of similar nonprofits.

2016 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2016

Top Officer Pay

10th percentile

$71,000

Higher top officer pay than 10% of similar nonprofits.

Top officer pay equals 6.6% of source-year revenue.

2016 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2016

Asset Growth

65th percentile

8.1%

Faster asset growth than 65% of similar nonprofits.

2016 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Revenue Growth

94th percentile

49%

Faster revenue growth than 94% of similar nonprofits.

2016 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Assets

Up

$12,435,705

Up $935,931 (+8.1%) from 2015

Net Assets

Up

$1,992,284

Up $637,042 (+47%) from 2015

Liabilities

Up

$10,443,421

Up $298,889 (+2.9%) from 2015

Revenue

Up

$1,083,712

Up $354,438 (+49%) from 2015

Expenses

Down

$461,391

Down $379,088 (-45%) from 2015

Net Income

Up

$622,321

Up $733,526 (+660%) from 2015

Historical Trend

Balance Sheet Trend

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

$20M$15M$10M$5.0M$0Assets 2010: $10,754,637Liabilities 2010: $8,435,178Net Assets 2010: $2,319,4592010Assets 2011: $11,092,909Liabilities 2011: $8,771,495Net Assets 2011: $2,321,4142011Assets 2012: $11,211,208Liabilities 2012: $8,715,080Net Assets 2012: $2,496,1282012Assets 2013: $11,442,119Liabilities 2013: $9,061,530Net Assets 2013: $2,380,5892013Assets 2014: $11,752,096Liabilities 2014: $10,285,504Net Assets 2014: $1,466,5922014Assets 2015: $11,499,774Liabilities 2015: $10,144,532Net Assets 2015: $1,355,2422015Assets 2016: $12,435,705Liabilities 2016: $10,443,421Net Assets 2016: $1,992,2842016Assets 2017: $13,437,628Liabilities 2017: $11,000,027Net Assets 2017: $2,437,6012017Assets 2018: $13,326,544Liabilities 2018: $10,740,752Net Assets 2018: $2,585,7922018Assets 2019: $13,736,779Liabilities 2019: $10,762,931Net Assets 2019: $2,973,8482019Assets 2020: $14,027,655Liabilities 2020: $10,802,759Net Assets 2020: $3,224,8962020Assets 2021: $14,736,771Liabilities 2021: $10,788,448Net Assets 2021: $3,948,3232021Assets 2022: $14,301,798Liabilities 2022: $9,995,648Net Assets 2022: $4,306,1502022Assets 2023: $14,321,627Liabilities 2023: $9,844,606Net Assets 2023: $4,477,0212023Assets 2024: $14,994,827Liabilities 2024: $9,826,671Net Assets 2024: $5,168,1562024Assets 2025: $17,713,506Liabilities 2025: $9,563,003Net Assets 2025: $8,150,5032025

Highlighted filing

2016

Assets$12,435,705
Liabilities$10,443,421
Net Assets$1,992,284

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $625,3842010Revenue 2011: $745,371Expenses 2011: $779,378Net Income 2011: -$34,0072011Expenses 2012: $577,7092012Expenses 2013: $738,0612013Revenue 2014: $940,479Expenses 2014: $876,743Net Income 2014: $63,7362014Revenue 2015: $729,274Expenses 2015: $840,479Net Income 2015: -$111,2052015Revenue 2016: $1,083,712Expenses 2016: $461,391Net Income 2016: $622,3212016Revenue 2017: $1,156,353Expenses 2017: $707,197Net Income 2017: $449,1562017Revenue 2018: $982,984Expenses 2018: $839,785Net Income 2018: $143,1992018Revenue 2019: $1,022,706Expenses 2019: $650,991Net Income 2019: $371,7152019Revenue 2020: $1,016,538Expenses 2020: $738,974Net Income 2020: $277,5642020Revenue 2021: $1,456,019Expenses 2021: $829,123Net Income 2021: $626,8962021Revenue 2022: $1,281,942Expenses 2022: $887,576Net Income 2022: $394,3662022Revenue 2023: $1,108,456Expenses 2023: $922,205Net Income 2023: $186,2512023Revenue 2024: $1,791,804Expenses 2024: $930,370Net Income 2024: $861,4342024Revenue 2025: $4,721,424Expenses 2025: $1,691,342Net Income 2025: $3,030,0822025

Highlighted filing

2016

Revenue$1,083,712
Expenses$461,391
Net Income$622,321
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Dec 13, 2016
Return Version
2015v3.0
Gross Receipts
$1,372,832
Mission and Program Overview

Mission

To recruit businesses from other states & to expand in-state business including administering an economic development & relending program.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$8,995,325$10,212,844▲ $1,217,519
Savings and Temporary Cash Investments$2,102,609$1,766,032▼ $336,577
Investments in Publicly Traded Securities$308,598$275,638▼ $32,960
Cash and Non-Interest-Bearing Accounts$54,917$133,747▲ $78,830
Accounts Receivable$700--
Total Assets$11,499,774$12,435,705▲ $935,931
Other Assets Total$37,625$47,444▲ $9,819
Liabilities
Mortgage Notes Payable Secured by Investment Property$8,713,718$9,063,468▲ $349,750
Other Liabilities$1,318,352$1,265,552▼ $52,800
Accounts Payable and Accrued Expenses$112,462$114,401▲ $1,939
Total Liabilities$10,144,532$10,443,421▲ $298,889
Net Assets / Fund Balance
Unrestricted Net Assets$1,355,242$1,992,284▲ $637,042
Total Net Assets Fund Balance$1,355,242$1,992,284▲ $637,042
Total Liabilities and Net Assets / Fund Balance$11,499,774$12,435,705▲ $935,931
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Ron RosenboomExecutive DiPT$35,500$35,500$71,000
Cal GeisSecretary-$3,000$3,000$6,000
Don AndersonVice Preside-$3,000$3,000$6,000
Myron SullivanPresident-$3,000$3,000$6,000
Shirley HalvorsenTreasurer-$3,000$3,000$6,000
William TermesDirector-$3,000$3,000$6,000
Revenue and Support

Revenue Composition

Contributions and Grants
$500,000
Program Service Revenue
$572,491
Investment Income
$11,221
Other Revenue
$0
Change in Net Assets
$622,321

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,083,712
Revenue Not Reported on Form 990
$14,721
Total Revenue per Audited Statements
$1,098,433
Total Revenue per Form 990
$1,083,712
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$340,712
Salaries, Compensation, and Employee Benefits$103,179
Grants and Similar Amounts Paid$17,500
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$91,798$3,633-$95,431
Current Officers, Directors, Trustees, and Key Employees-$50,500-$50,500
Other Salaries and Wages-$46,025-$46,025
Travel-$31,288-$31,288
Grants to Domestic Orgs$17,500--$17,500
Fees for Services Other-$13,803-$13,803
Fees for Services Accounting-$10,888-$10,888
Payroll Taxes-$6,654-$6,654
Fees for Services Legal-$3,103-$3,103
Other Expenses$909$50-$959
All Other Expenses-$832-$832
Office Expenses-$10-$10
Total Functional Expenses$294,549$166,842$0$461,391

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$461,391
Total Expenses per Audited Statements$461,391
Total Expenses per Form 990$461,391
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Sd Governors Office of Economic DevPierre, SDGov-$15,000
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Funds Held for Others$1,107,152
Contract Payable - Morris$158,400
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
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

Form 990 is reviewed and approved by the executive director and board of directors prior to filing.

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

Any conflicts of interest are reported to the board of directors for discussion and appropriate action.

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

All employee compensation is reviewed and approved by the board of directors.

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

All employee compensation is reviewed and approved by the full board of directors.

Form 990, Page 6, Part VI, Line 19

Form 990 is available upon written request.

Filing and Contact Details

Filer

Filer Name
West River Foundation for Economic
EIN
46-0457322
Phone
6053474467
Address
PO BOX 605, STURGIS, SD 57785

Signing Officer

Name
Ron Rosenboom
Title
Executive Director
Phone
6053474467
Signed
2016-12-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ron Rosenboom
Formed
2000
Legal Domicile
Sd
Voting Board Members
5
Independent Board Members
5
Employees
3

Preparer

Firm
David Pummel & Associates Llp
Address
PO BOX 278, BELLE FOURCHE, SD 57717-0278
Preparer
Renae Schaeffer
Phone
6057231040
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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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IRS990ScheduleI/RecipientTable/USAddress/CityNm0PIERRE
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0SD
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd057501
IRS990ScheduleI/Total501c3OrgCnt02
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS REVIEWED AND APPROVED BY THE EXECUTIVE DIRECTOR AND BOARD OF DIRECTORS PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ANY CONFLICTS OF INTEREST ARE REPORTED TO THE BOARD OF DIRECTORS FOR DISCUSSION AND APPROPRIATE ACTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL EMPLOYEE COMPENSATION IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL EMPLOYEE COMPENSATION IS REVIEWED AND APPROVED BY THE FULL BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4FORM 990 IS AVAILABLE UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0NA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0WEST RIVER FOUNDATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0363354458
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0SD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0CHARITABLE
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0PO BOX 605
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0STURGIS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0SD
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IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0true
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0150000
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0CONTRACT SERVICES
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0WEST RIVER FOUNDATION
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0P
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IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt011499774
IRS990/TotalAssetsEOYAmt012435705
IRS990/TotalAssetsGrp/BOYAmt011499774
IRS990/TotalAssetsGrp/EOYAmt012435705
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0500000
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0166842
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0294549
IRS990/TotalFunctionalExpensesGrp/TotalAmt0461391
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt010144532
IRS990/TotalLiabilitiesEOYAmt010443421
IRS990/TotalLiabilitiesGrp/BOYAmt010144532
IRS990/TotalLiabilitiesGrp/EOYAmt010443421
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01355242
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01992284
IRS990/TotalProgramServiceExpensesAmt0294549
IRS990/TotalProgramServiceRevenueAmt0572491
IRS990/TotalReportableCompFromOrgAmt050500
IRS990/TotalRevenueGrp/ExclusionAmt021154
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0562558
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01083712
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt011499774
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt012435705
IRS990/TotReportableCompRltdOrgAmt050500
IRS990/TravelGrp/ManagementAndGeneralAmt031288
IRS990/TravelGrp/TotalAmt031288
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IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01355242
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01992284
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 605
IRS990/USAddress/CityNm0STURGIS
IRS990/USAddress/StateAbbreviationCd0SD
IRS990/USAddress/ZIPCd057785
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.BHFREEBUSINESSHELP.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0RON ROSENBOOM
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum06053474467
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-12-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WEST RIVER FOUNDATION FOR ECONOMIC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0AND COMMUNITY DEVELOPMENT
ReturnHeader/Filer/BusinessNameControlTxt0WEST
ReturnHeader/Filer/EIN0460457322
ReturnHeader/Filer/PhoneNum06053474467
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 605
ReturnHeader/Filer/USAddress/CityNm0STURGIS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0SD
ReturnHeader/Filer/USAddress/ZIPCd057785
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0460375649
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DAVID PUMMEL & ASSOCIATES LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 278
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BELLE FOURCHE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0SD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0577170278
ReturnHeader/PreparerPersonGrp/PhoneNum06057231040
ReturnHeader/PreparerPersonGrp/PreparationDt02017-01-16
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RENAE SCHAEFFER
ReturnHeader/ReturnTs02017-01-16T08:36:12-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$17.7$9.56$8.15$4.72$1.69$3.03
2024Detailed filing. Detailed filing data is available for this year.$15.0$9.83$5.17$1.79$0.93$0.86
2023Detailed filing. Detailed filing data is available for this year.$14.3$9.84$4.48$1.11$0.92$0.19
2022Detailed filing. Detailed filing data is available for this year.$14.3$10.00$4.31$1.28$0.89$0.39
2021Detailed filing. Detailed filing data is available for this year.$14.7$10.8$3.95$1.46$0.83$0.63
2020Detailed filing. Detailed filing data is available for this year.$14.0$10.8$3.22$1.02$0.74$0.28
2019Detailed filing. Detailed filing data is available for this year.$13.7$10.8$2.97$1.02$0.65$0.37
2018Detailed filing. Detailed filing data is available for this year.$13.3$10.7$2.59$0.98$0.84$0.14
2017Detailed filing. Detailed filing data is available for this year.$13.4$11.0$2.44$1.16$0.71$0.45
2016Detailed filing. Detailed filing data is available for this year.$12.4$10.4$1.99$1.08$0.46$0.62
2015Detailed filing. Detailed filing data is available for this year.$11.5$10.1$1.36$0.73$0.84$0.11
2014Detailed filing. Detailed filing data is available for this year.$11.8$10.3$1.47$0.94$0.88$0.06
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.4$9.06$2.38$0.74
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.2$8.72$2.50$0.58
2011Summary only. Only limited summary data is available for this year.$11.1$8.77$2.32$0.75$0.78$0.03
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.8$8.44$2.32$0.63