Civic Intelligence

Watertown Development Company

990 • Fiscal year 2014 • EIN 46-6012194

Aug 01, 2013 to Jul 31, 2014 • Filed on Dec 01, 2014

Organization ProfileWWW.WATERTOWNDEVELOPMENTCO.COM
PO Box 33257201

(605) 886-8425

Siviq Scores

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

Liabilities / Assets

61st percentile

0.37x

Higher debt load relative to assets than 61% of similar nonprofits.

2014 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2014

Liabilities / Revenue

89th percentile

1.12x

Higher debt load relative to revenue than 89% of similar nonprofits.

2014 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2014

Net Margin

98th percentile

65%

Higher net margin than 98% of similar nonprofits.

2014 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2014

Top Officer Pay

11th percentile

$121,483

Higher top officer pay than 11% of similar nonprofits.

Top officer pay equals 3.2% of source-year revenue.

2014 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2014

Asset Growth

3rd percentile

-18%

Faster asset growth than 3% of similar nonprofits.

2014 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Balance Sheet
Liabilities / Assets61st percentile

Assets

Down

$11,701,037

Down $2,641,468 (-18%) from 2013

Net Assets

Up

$7,405,993

Up $2,493,596 (+51%) from 2013

Liabilities

Down

$4,295,044

Down $5,135,064 (-54%) from 2013

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin98th percentile

Revenue

$3,819,817

No earlier filing loaded for comparison.

Expenses

Down

$1,326,221

Down $236,062 (-15%) from 2013

Net Income

$2,493,596

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth3rd percentile

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

$40M$30M$20M$10M$0Assets 2011: $12,461,939Liabilities 2011: $9,953,032Net Assets 2011: $2,508,9072011Assets 2012: $13,432,983Liabilities 2012: $9,381,025Net Assets 2012: $4,051,9582012Assets 2013: $14,342,505Liabilities 2013: $9,430,108Net Assets 2013: $4,912,3972013Assets 2014: $11,701,037Liabilities 2014: $4,295,044Net Assets 2014: $7,405,9932014Assets 2015: $12,881,741Liabilities 2015: $5,769,999Net Assets 2015: $7,111,7422015Assets 2016: $12,414,276Liabilities 2016: $5,663,676Net Assets 2016: $6,750,6002016Assets 2017: $10,276,126Liabilities 2017: $4,471,318Net Assets 2017: $5,804,8082017Assets 2018: $9,781,733Liabilities 2018: $4,221,608Net Assets 2018: $5,560,1252018Assets 2019: $15,383,937Liabilities 2019: $7,602,880Net Assets 2019: $7,781,0572019Assets 2020: $22,088,166Liabilities 2020: $13,758,658Net Assets 2020: $8,329,5082020Assets 2021: $26,333,482Liabilities 2021: $18,426,025Net Assets 2021: $7,907,4572021Assets 2022: $26,777,594Liabilities 2022: $19,629,312Net Assets 2022: $7,148,2822022Assets 2023: $25,950,816Liabilities 2023: $19,782,483Net Assets 2023: $6,168,3332023Assets 2024: $30,618,359Liabilities 2024: $25,430,628Net Assets 2024: $5,187,7312024

Highlighted filing

2014

Assets$11,701,037
Liabilities$4,295,044
Net Assets$7,405,993
Open 2014 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2011: $1,142,0842011Expenses 2012: $1,069,9442012Expenses 2013: $1,562,2832013Revenue 2014: $3,819,817Expenses 2014: $1,326,221Net Income 2014: $2,493,5962014Revenue 2015: $658,392Expenses 2015: $952,643Net Income 2015: -$294,2512015Revenue 2016: $752,161Expenses 2016: $1,113,303Net Income 2016: -$361,1422016Revenue 2017: $219,308Expenses 2017: $1,165,100Net Income 2017: -$945,7922017Revenue 2018: $720,867Expenses 2018: $965,550Net Income 2018: -$244,6832018Revenue 2019: $4,935,830Expenses 2019: $2,714,898Net Income 2019: $2,220,9322019Revenue 2020: $2,114,531Expenses 2020: $1,566,080Net Income 2020: $548,4512020Revenue 2021: $2,078,248Expenses 2021: $2,500,299Net Income 2021: -$422,0512021Revenue 2022: $1,539,881Expenses 2022: $2,299,056Net Income 2022: -$759,1752022Revenue 2023: $1,410,951Expenses 2023: $2,390,900Net Income 2023: -$979,9492023Revenue 2024: $3,726,959Expenses 2024: $4,124,210Net Income 2024: -$397,2512024

Highlighted filing

2014

Revenue$3,819,817
Expenses$1,326,221
Net Income$2,493,596
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Aug 1, 2013 to Jul 31, 2014
Signed
Dec 1, 2014
Return Version
2013v3.1
Gross Receipts
$10,150,876
Mission and Program Overview

Mission

Economic development in the watertown, sd area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$4,030,431$6,524,027▲ $2,493,596
Land, Buildings, and Equipment, Net$10,810,091$5,192,953▼ $5,617,138
Savings and Temporary Cash Investments$2,234,873$3,425,768▲ $1,190,895
Pledges and Grants Receivable$153,567$1,943,592▲ $1,790,025
Cap Stk Tr Prin Current Funds$881,966$881,966→ $0
Accounts Receivable$497,089$531,047▲ $33,958
Investments Other Securities$91,387$86,470▼ $4,917
Prepaid Expenses and Deferred Charges$4,067$7,330▲ $3,263
Total Assets$14,342,505$11,701,037▼ $2,641,468
Other Assets Total$551,431$513,877▼ $37,554
Liabilities
Mortgage Notes Payable Secured by Investment Property$9,287,370$3,933,951▼ $5,353,419
Accounts Payable and Accrued Expenses$142,738$361,093▲ $218,355
Total Liabilities$9,430,108$4,295,044▼ $5,135,064
Net Assets / Fund Balance
Total Net Assets Fund Balance$4,912,397$7,405,993▲ $2,493,596
Total Liabilities and Net Assets / Fund Balance$14,342,505$11,701,037▼ $2,641,468

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,054,711$670,120$5,724,831
Land$128,500-$128,500
Equipment$9,742$102,381$112,123
Compensation and Service Providers
Top Officer Pay11th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Craig AtkinsPresidentFT$100,499$20,984$121,483

Board Members and Trustees

NameTitle
Jill FullerChairperson
Jim RedlingerVice Chairma
Brian VanvleetBoard Member
Curt TregoBoard Member
Deb ShephardBoard Member
Don RoehrichBoard Member
James OlsonBoard Member
James RobyBoard Member
Jim SeurerBoard Member
Kip HansenBoard Member
Steve ThorsonBoard Member
Steve LehnerSecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$2,179,530
Program Service Revenue
$937,492
Investment Income
$700,212
Other Revenue
$2,583
All Other Contributions
$1,160,250
Change in Net Assets
$2,493,596
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,122,314
Salaries, Compensation, and Employee Benefits$203,907
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$310,114
Interest---$278,870
Advertising---$135,599
Current Officers, Directors, Trustees, and Key Employees---$100,499
Other Salaries and Wages---$52,676
Other Employee Benefits---$34,338
All Other Expenses---$27,021
Fees for Services Accounting---$23,065
Occupancy---$21,600
Other Expenses---$14,977
Payroll Taxes---$12,047
Fees for Services Legal---$11,653
Pension Plan Contributions---$4,347
Total Functional Expenses$0$0$0$1,326,221
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 7A

“Board of directors is elected by its members.”

Form 990, Page 6, Part VI, Line 7B

“Yes by virtue of actions taken at annual meeting.”

Form 990, Page 6, Part VI, Line 11B

“The 990 is signed by the president and a copy is presented to the board of directors.”

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

“Directors and officers are required to disclose any possible conflicts and agree to the policy annually.”

Form 990, Page 6, Part VI, Line 19

“Watertown development company makes all of its governing documents, conflict of interest policy and financial statements available to the public upon request.”

Filing and Contact Details

Filer

EIN
46-6012194
Phone
6058868425

Signing Officer

Name
Craig Atkins
Title
President
Phone
6058868425
Signed
2014-12-01
Discuss with paid preparer
Yes

Organization Details

Formed
1947
Legal Domicile
Sd
Voting Board Members
13
Independent Board Members
12
Employees
3
Volunteers
12

Preparer

Preparer
Glen Vilhauer
Phone
6058868425
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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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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0937492
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0676580
IRS990/PYGrantsAndSimilarPaidAmt08800
IRS990/PYInvestmentIncomeAmt0373836
IRS990/PYOtherExpensesAmt01357378
IRS990/PYOtherRevenueAmt0735
IRS990/PYProgramServiceRevenueAmt01371571
IRS990/PYRevenuesLessExpensesAmt0860439
IRS990/PYSalariesCompEmpBnftPaidAmt0196105
IRS990/PYTotalExpensesAmt01562283
IRS990/PYTotalRevenueAmt02422722
IRS990/ReconcilationRevenueExpnssAmt02493596
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt04030431
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt06524027
IRS990/SavingsAndTempCashInvstGrp/BOYAmt02234873
IRS990/SavingsAndTempCashInvstGrp/EOYAmt03425768
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/BookValueAmt05054711
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0670120
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt05724831
IRS990ScheduleD/EquipmentGrp/BookValueAmt09742
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0102381
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0112123
IRS990ScheduleD/LandGrp/BookValueAmt0128500
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0128500
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05192953
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BOARD OF DIRECTORS IS ELECTED BY ITS MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1YES BY VIRTUE OF ACTIONS TAKEN AT ANNUAL MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE 990 IS SIGNED BY THE PRESIDENT AND A COPY IS PRESENTED TO THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DIRECTORS AND OFFICERS ARE REQUIRED TO DISCLOSE ANY POSSIBLE CONFLICTS AND AGREE TO THE POLICY ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4WATERTOWN DEVELOPMENT COMPANY MAKES ALL OF ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt014342505
IRS990/TotalAssetsEOYAmt011701037
IRS990/TotalAssetsGrp/BOYAmt014342505
IRS990/TotalAssetsGrp/EOYAmt011701037
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt02179530
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt01326221
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt09430108
IRS990/TotalLiabilitiesEOYAmt04295044
IRS990/TotalLiabilitiesGrp/BOYAmt09430108
IRS990/TotalLiabilitiesGrp/EOYAmt04295044
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt04912397
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt07405993
IRS990/TotalOtherCompensationAmt020984
IRS990/TotalProgramServiceExpensesAmt01326221
IRS990/TotalProgramServiceRevenueAmt0937492
IRS990/TotalReportableCompFromOrgAmt0100499
IRS990/TotalRevenueGrp/ExclusionAmt013900
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01626387
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03819817
IRS990/TotalVolunteersCnt012
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt014342505
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt011701037
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt013
IRS990/VotingMembersIndependentCnt012
IRS990/WebsiteAddressTxt0WWW.WATERTOWNDEVELOPMENTCO.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0CRAIG ATKINS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06058868425
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-12-01
ReturnHeader/Filer/BusinessName/BusinessNameLine10WATERTOWN DEVELOPMENT COMPANY
ReturnHeader/Filer/BusinessNameControlTxt0WATE
ReturnHeader/Filer/EIN0466012194
ReturnHeader/Filer/PhoneNum06058868425
ReturnHeader/Filer/USAddress/AddressLine10PO BOX 332
ReturnHeader/Filer/USAddress/City0WATERTOWN
ReturnHeader/Filer/USAddress/State0SD
ReturnHeader/Filer/USAddress/ZIPCode057201
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0460414067
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10VILHAUER RAML & SNYDER PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine10PO BOX 1267
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0WATERTOWN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0SD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode0572016267
ReturnHeader/PreparerPersonGrp/PhoneNum06058868425
ReturnHeader/PreparerPersonGrp/PreparationDt02014-12-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0GLEN VILHAUER
ReturnHeader/ReturnTs02014-12-09T07:54:14-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-08-01
ReturnHeader/TaxPeriodEndDt02014-07-31
ReturnHeader/TaxYr02013

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$11,701,037
Liabilities
$4,295,044
Net assets
$7,405,993
Revenue
$3,819,817
Expenses
$1,326,221
Net income
$2,493,596
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$30.6$25.4$5.19$3.73$4.12$0.40
2023Detailed filing. Detailed filing data is available for this year.$26.0$19.8$6.17$1.41$2.39$0.98
2022Detailed filing. Detailed filing data is available for this year.$26.8$19.6$7.15$1.54$2.30$0.76
2021Detailed filing. Detailed filing data is available for this year.$26.3$18.4$7.91$2.08$2.50$0.42
2020Detailed filing. Detailed filing data is available for this year.$22.1$13.8$8.33$2.11$1.57$0.55
2019Detailed filing. Detailed filing data is available for this year.$15.4$7.60$7.78$4.94$2.71$2.22
2018Detailed filing. Detailed filing data is available for this year.$9.78$4.22$5.56$0.72$0.97$0.24
2017Detailed filing. Detailed filing data is available for this year.$10.3$4.47$5.80$0.22$1.17$0.95
2016Detailed filing. Detailed filing data is available for this year.$12.4$5.66$6.75$0.75$1.11$0.36
2015Detailed filing. Detailed filing data is available for this year.$12.9$5.77$7.11$0.66$0.95$0.29
2014Detailed filing. Detailed filing data is available for this year.$11.7$4.30$7.41$3.82$1.33$2.49
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.3$9.43$4.91$1.56
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.4$9.38$4.05$1.07
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.5$9.95$2.51$1.14
Peer Organizations

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