Civic Intelligence

Aberdeen Downtown Association

990 • Fiscal year 2014 • EIN 46-0460220

Jan 01, 2014 to Dec 31, 2014 • Filed on Oct 29, 2015

Organization Profilewww.aberdeendowntown.org
514 S Main StAberdeen, SD 57401

(605) 226-3441

Siviq Scores

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

Liabilities / Assets

93rd percentile

0.79x

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

2014 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

97th percentile

2.11x

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

2014 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2014

Net Margin

86th percentile

17%

Higher net margin than 86% of similar nonprofits.

2014 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

24th percentile

$52,285

Higher top officer pay than 24% of similar nonprofits.

Top officer pay equals 13.0% of source-year revenue.

2014 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2014

Asset Growth

42nd percentile

1.8%

Faster asset growth than 42% of similar nonprofits.

2014 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

83rd percentile

18%

Faster revenue growth than 83% of similar nonprofits.

2014 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Up

$1,066,357

Up $18,511 (+1.8%) from 2013

Net Assets

Up

$221,712

Up $68,560 (+45%) from 2013

Liabilities

Down

$844,645

Down $50,049 (-5.6%) from 2013

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin86th percentile

Revenue

Up

$400,915

Up $60,153 (+18%) from 2013

Expenses

Down

$332,355

Down $17,001 (-4.9%) from 2013

Net Income

Up

$68,560

Up $77,154 (+898%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth42nd percentile

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

$1.5M$1.0M$500K$0Assets 2010: $927,099Liabilities 2010: $841,930Net Assets 2010: $85,1692010Assets 2011: $1,109,315Liabilities 2011: $1,009,998Net Assets 2011: $99,3172011Assets 2012: $1,102,999Liabilities 2012: $941,253Net Assets 2012: $161,7462012Assets 2013: $1,047,846Liabilities 2013: $894,694Net Assets 2013: $153,1522013Assets 2014: $1,066,357Liabilities 2014: $844,645Net Assets 2014: $221,7122014Assets 2015: $1,056,174Liabilities 2015: $791,914Net Assets 2015: $264,2602015Assets 2016: $1,051,903Liabilities 2016: $507,896Net Assets 2016: $544,0072016Assets 2017: $1,052,243Liabilities 2017: $357,306Net Assets 2017: $694,9372017Assets 2018: $1,380,585Liabilities 2018: $580,558Net Assets 2018: $800,0272018Assets 2019: $1,362,851Liabilities 2019: $573,249Net Assets 2019: $789,6022019Assets 2020: $1,278,538Liabilities 2020: $371,942Net Assets 2020: $906,5962020Assets 2021: $1,012,514Liabilities 2021: $0Net Assets 2021: $1,012,5142021Assets 2022: $983,630Liabilities 2022: $0Net Assets 2022: $983,6302022Assets 2023: $940,871Liabilities 2023: $0Net Assets 2023: $940,8712023Assets 2024: $889,021Liabilities 2024: $0Net Assets 2024: $889,0212024

Highlighted filing

2014

Assets$1,066,357
Liabilities$844,645
Net Assets$221,712
Open 2014 Filing

Operations Trend

Revenue Growth83rd percentile

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

$800K$600K$400K$200K$0-$200KExpenses 2010: $447,3132010Revenue 2011: $530,354Expenses 2011: $507,206Net Income 2011: $23,1482011Expenses 2012: $328,2062012Revenue 2013: $340,762Expenses 2013: $349,356Net Income 2013: -$8,5942013Revenue 2014: $400,915Expenses 2014: $332,355Net Income 2014: $68,5602014Revenue 2015: $407,742Expenses 2015: $365,194Net Income 2015: $42,5482015Revenue 2016: $642,977Expenses 2016: $363,230Net Income 2016: $279,7472016Revenue 2017: $493,352Expenses 2017: $342,422Net Income 2017: $150,9302017Revenue 2018: $428,176Expenses 2018: $323,086Net Income 2018: $105,0902018Revenue 2019: $316,065Expenses 2019: $326,490Net Income 2019: -$10,4252019Revenue 2020: $283,010Expenses 2020: $320,901Net Income 2020: -$37,8912020Revenue 2021: $343,761Expenses 2021: $243,843Net Income 2021: $99,9182021Revenue 2022: $259,068Expenses 2022: $244,858Net Income 2022: $14,2102022Revenue 2023: $191,510Expenses 2023: $234,269Net Income 2023: -$42,7592023Revenue 2024: $244,220Expenses 2024: $296,070Net Income 2024: -$51,8502024

Highlighted filing

2014

Revenue$400,915
Expenses$332,355
Net Income$68,560
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Oct 29, 2015
Return Version
2014v5.0
Gross Receipts
$400,915
Mission and Program Overview

Mission

Creating vitality in the heart of the city.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$823,892$801,514▼ $22,378
Savings and Temporary Cash Investments$27,016$114,424▲ $87,408
Cash and Non-Interest-Bearing Accounts$46,519--
Total Assets$1,047,846$1,066,357▲ $18,511
Other Assets Total$150,419$150,419→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$894,694$844,645▼ $50,049
Total Liabilities$894,694$844,645▼ $50,049
Net Assets / Fund Balance
Unrestricted Net Assets$115,152$159,712▲ $44,560
Temporarily Rstr Net Assets$38,000$62,000▲ $24,000
Total Net Assets Fund Balance$153,152$221,712▲ $68,560
Total Liabilities and Net Assets / Fund Balance$1,047,846$1,066,357▲ $18,511

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$801,514$93,671$895,185
Other Assets Org$150,419--
Compensation and Service Providers
Top Officer Pay24th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Heidi AppelExecutive DirectorFT$49,833$2,452$52,285

Board Members and Trustees

NameTitle
Jon WebbVice President; President
Greg SanderDirector
Heath JohnsonDirector
Kevin Burckhard through NovemberDirector
Mark MalchowDirector
Matt PrehnDirector
Matt ZellerDirector
Rod TobinDirector
Tom HurlbertDirector
Troy McQuillenDirector
Randy GrismerSecretary/Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$375,498
Program Service Revenue
$25,414
Investment Income
$3
Other Revenue
$0
All Other Contributions
$11,800
Change in Net Assets
$68,560
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$178,241
Salaries, Compensation, and Employee Benefits$154,114
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$101,828
Interest---$53,530
Current Officers, Directors, Trustees, and Key Employees---$52,286
Depreciation Depletion---$22,380
Office Expenses---$14,524
Advertising---$11,882
Occupancy---$9,895
Fees for Services Accounting---$9,514
Travel---$4,019
Insurance---$3,754
Conferences and Meetings---$2,645
Other Expenses---$1,936
All Other Expenses---$703
Fees for Services Other---$30
Total Functional Expenses$0$0$0$332,355
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
Yes
Subject to proxy tax
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 7B

“New board member appointments to the BID board are approved by the Mayor of the City of Aberdeen and the City Council. There is no approval needed for members of the Aberdeen Downtown Association board of directors.”

Form 990, Part VI, Section A, line 8B

“While the organization has an executive committee, their actions are limited to those as delegated by the governing board. There are no committees that have broad authority to act on behalf of the governing board.”

Form 990, Part VI, Section B, line 11

“The draft return is reviewed by the Executive Director and the Secretary/Treasury. If questions remained after this initial review, the return would be taken to the entire board.”

Form 990, Part VI, Section B, line 15

“There is currently no formal process to determine compensation.”

Form 990, Part VI, Section C, line 19

“The financial statements and governing documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Aberdeen Downtown Association
EIN
46-0460220
Phone
6052263441
Address
514 S Main St, Aberdeen, SD 57401

Signing Officer

Name
Randy Grismer
Title
Secretary/Treasurer
Phone
6052263441
Signed
2015-10-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Randy Grismer
Formed
2002
Legal Domicile
Sd
Voting Board Members
10
Independent Board Members
10
Employees
8
Volunteers
165

Preparer

Firm
Eide Bailly Llp
Address
24 2ND AVE SW PO BOX 430, ABERDEEN, SD 57402-0430
Preparer
Melissa White CPA
Phone
6052258783
Supplemental Narrative

Financial Statement Notes

Part X, Line 2:

“The Organization is organized as a South Dakota nonprofit corporation and has been recognized by the Internal Revenue Service (IRS) as exempt from federal income taxes under Section 501(c)(6) of the Internal Revenue Code. The Organization is annually required to file a Return of Organization Exempt from Income Tax (Form 990) with the IRS. In addition, the Organization is subject to income tax on net income that is derived from business activities that are unrelated to its exempt purpose. We have determined that the Organization is not subject to unrelated business income tax and has not filed an Exempt Organization Business Income Tax Return (Form 990-T) with the IRS. We believe that the Organization has appropriate support for any tax positions taken affecting its annual filing requirements, and as such, does not have any uncertain tax positions that are material to the financial statements. We would recognize future accrued interest and penalties related to unrecognized tax benefits and liabilities in income tax expense if such interest and penalties are incurred. The Organization's Form 990 and other income tax filings required by state, local, or non-U.S. tax authorities are no longer subject to tax examination for years before 2011.”

Raw XML Appendix354 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/Form990PartVIISectionAGrp/TitleTxt0Vice President; President
IRS990/Form990PartVIISectionAGrp/TitleTxt1Secretary/Treasurer
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IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
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IRS990/ProgSrvcAccomActy2Grp/Desc0Administered facade grant program to assist in restoration of building fronts for downtown businesses.
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IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt093671
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0895185
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Organization is organized as a South Dakota nonprofit corporation and has been recognized by the Internal Revenue Service (IRS) as exempt from federal income taxes under Section 501(c)(6) of the Internal Revenue Code. The Organization is annually required to file a Return of Organization Exempt from Income Tax (Form 990) with the IRS. In addition, the Organization is subject to income tax on net income that is derived from business activities that are unrelated to its exempt purpose. We have determined that the Organization is not subject to unrelated business income tax and has not filed an Exempt Organization Business Income Tax Return (Form 990-T) with the IRS. We believe that the Organization has appropriate support for any tax positions taken affecting its annual filing requirements, and as such, does not have any uncertain tax positions that are material to the financial statements. We would recognize future accrued interest and penalties related to unrecognized tax benefits and liabilities in income tax expense if such interest and penalties are incurred. The Organization's Form 990 and other income tax filings required by state, local, or non-U.S. tax authorities are no longer subject to tax examination for years before 2011.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0801514
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0150419
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0New board member appointments to the BID board are approved by the Mayor of the City of Aberdeen and the City Council. There is no approval needed for members of the Aberdeen Downtown Association board of directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1While the organization has an executive committee, their actions are limited to those as delegated by the governing board. There are no committees that have broad authority to act on behalf of the governing board.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The draft return is reviewed by the Executive Director and the Secretary/Treasury. If questions remained after this initial review, the return would be taken to the entire board.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3There is currently no formal process to determine compensation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The financial statements and governing documents are available upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 7b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, line 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd01
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt038000
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt062000
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01047846
IRS990/TotalAssetsEOYAmt01066357
IRS990/TotalAssetsGrp/BOYAmt01047846
IRS990/TotalAssetsGrp/EOYAmt01066357
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0375498
IRS990/TotalEmployeeCnt08
IRS990/TotalFunctionalExpensesGrp/TotalAmt0332355
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0894694
IRS990/TotalLiabilitiesEOYAmt0844645
IRS990/TotalLiabilitiesGrp/BOYAmt0894694
IRS990/TotalLiabilitiesGrp/EOYAmt0844645
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0153152
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0221712
IRS990/TotalOtherCompensationAmt02452
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt02849
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt02849
IRS990/TotalProgramServiceRevenueAmt025414
IRS990/TotalReportableCompFromOrgAmt049833
IRS990/TotalRevenueGrp/ExclusionAmt03
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt025414
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0400915
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt0165
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01047846
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01066357
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt04019
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0115152
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0159712
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0514 S Main St
IRS990/USAddress/CityNm0Aberdeen
IRS990/USAddress/StateAbbreviationCd0SD
IRS990/USAddress/ZIPCd057401
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0www.aberdeendowntown.org
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-03-07 17:11:31Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Randy Grismer
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Secretary/Treasurer
ReturnHeader/BusinessOfficerGrp/PhoneNum06052263441
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-10-29
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Aberdeen Downtown Association
ReturnHeader/Filer/BusinessNameControlTxt0ABER
ReturnHeader/Filer/EIN0460460220
ReturnHeader/Filer/PhoneNum06052263441
ReturnHeader/Filer/USAddress/AddressLine1Txt0514 S Main St
ReturnHeader/Filer/USAddress/CityNm0Aberdeen
ReturnHeader/Filer/USAddress/StateAbbreviationCd0SD
ReturnHeader/Filer/USAddress/ZIPCd057401
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0450250958
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0EIDE BAILLY LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt024 2ND AVE SW PO BOX 430
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ABERDEEN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0SD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0574020430
ReturnHeader/PreparerPersonGrp/PhoneNum06052258783
ReturnHeader/PreparerPersonGrp/PreparationDt02015-10-26
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Melissa White CPA
ReturnHeader/ReturnTs02015-11-16T16:49:54-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,066,357
Liabilities
$844,645
Net assets
$221,712
Revenue
$400,915
Expenses
$332,355
Net income
$68,560
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.89$0.00$0.89$0.24$0.30$0.05
2023Detailed filing. Detailed filing data is available for this year.$0.94$0.00$0.94$0.19$0.23$0.04
2022Detailed filing. Detailed filing data is available for this year.$0.98$0.00$0.98$0.26$0.24$0.01
2021Detailed filing. Detailed filing data is available for this year.$1.01$0.00$1.01$0.34$0.24$0.10
2020Detailed filing. Detailed filing data is available for this year.$1.28$0.37$0.91$0.28$0.32$0.04
2019Detailed filing. Detailed filing data is available for this year.$1.36$0.57$0.79$0.32$0.33$0.01
2018Detailed filing. Detailed filing data is available for this year.$1.38$0.58$0.80$0.43$0.32$0.11
2017Detailed filing. Detailed filing data is available for this year.$1.05$0.36$0.69$0.49$0.34$0.15
2016Detailed filing. Detailed filing data is available for this year.$1.05$0.51$0.54$0.64$0.36$0.28
2015Detailed filing. Detailed filing data is available for this year.$1.06$0.79$0.26$0.41$0.37$0.04
2014Detailed filing. Detailed filing data is available for this year.$1.07$0.84$0.22$0.40$0.33$0.07
2013Detailed filing. Detailed filing data is available for this year.$1.05$0.89$0.15$0.34$0.35$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.10$0.94$0.16$0.33
2011Summary only. Only limited summary data is available for this year.$1.11$1.01$0.10$0.53$0.51$0.02
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.93$0.84$0.09$0.45