Civic Intelligence

Watertown Development Company

990 • Fiscal year 2017 • EIN 46-6012194

Aug 01, 2016 to Jul 31, 2017 • Filed on Oct 26, 2017

Organization ProfileWWW.WATERTOWNDEVELOPMENTCO.COM
PO Box 332Watertown, SD 57201

(605) 886-8425

Siviq Scores

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

Liabilities / Assets

72nd percentile

0.44x

Higher debt load relative to assets than 72% of similar nonprofits.

2017 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

99th percentile

20.39x

Higher debt load relative to revenue than 99% of similar nonprofits.

2017 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2017

Net Margin

1st percentile

-431%

Higher net margin than 1% of similar nonprofits.

2017 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2017

Top Officer Pay

13th percentile

$126,080

Higher top officer pay than 13% of similar nonprofits.

Top officer pay equals 57.5% of source-year revenue.

2017 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2017

Asset Growth

4th percentile

-17%

Faster asset growth than 4% of similar nonprofits.

2017 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Revenue Growth

1st percentile

-71%

Faster revenue growth than 1% of similar nonprofits.

2017 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets72nd percentile

Assets

Down

$10,276,126

Down $2,138,150 (-17%) from 2016

Net Assets

Down

$5,804,808

Down $945,792 (-14%) from 2016

Liabilities

Down

$4,471,318

Down $1,192,358 (-21%) from 2016

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin1st percentile

Revenue

Down

$219,308

Down $532,853 (-71%) from 2016

Expenses

Up

$1,165,100

Up $51,797 (+4.7%) from 2016

Net Income

Down

-$945,792

Down $584,650 (-162%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth4th 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

2017

Assets$10,276,126
Liabilities$4,471,318
Net Assets$5,804,808
Open 2017 Filing

Operations Trend

Revenue Growth1st percentile

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

2017

Revenue$219,308
Expenses$1,165,100
Net Income-$945,792
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Aug 1, 2016 to Jul 31, 2017
Signed
Oct 26, 2017
Return Version
2016v3.0
Gross Receipts
$1,079,665
Mission and Program Overview

Mission

Economic development in the watertown, sd area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$7,423,945$6,404,959▼ $1,018,986
Rtn Earn Endowment Incm Other Fnds$5,868,634$4,922,842▼ $945,792
Savings and Temporary Cash Investments$3,140,987$2,751,817▼ $389,170
Cap Stk Tr Prin Current Funds$881,966$881,966→ $0
Pledges and Grants Receivable$972,956$570,231▼ $402,725
Investments Other Securities$95,197$100,676▲ $5,479
Accounts Receivable$366,631$32,425▼ $334,206
Prepaid Expenses and Deferred Charges$4,908$6,130▲ $1,222
Total Assets$12,414,276$10,276,126▼ $2,138,150
Other Assets Total$409,652$409,888▲ $236
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,405,735$4,357,451▼ $1,048,284
Accounts Payable and Accrued Expenses$257,941$113,867▼ $144,074
Total Liabilities$5,663,676$4,471,318▼ $1,192,358
Net Assets / Fund Balance
Total Net Assets Fund Balance$6,750,600$5,804,808▼ $945,792
Total Liabilities and Net Assets / Fund Balance$12,414,276$10,276,126▼ $2,138,150

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$6,218,684$1,308,402$7,527,086
Land$186,275-$186,275
Equipment-$2,937$2,937
Compensation and Service Providers
Top Officer Pay13th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Craig AtkinsPresidentFT$126,080$126,080

Board Members and Trustees

NameTitle
Jill FullerChairperson
Jim RedlingerVice Chairma
Curt TregoBoard Member
Dewayne HibbertBoard Member
Don RoehrichBoard Member
Gary KoistinenBoard Member
James OlsonBoard Member
James RobyBoard Member
Jim SeurerBoard Member
Michael CartneyBoard Member
Sarah CaronBoard Member
Troy ZebroskiBoard Member
Steve LehnerSecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$162,665
Program Service Revenue
$460,643
Investment Income
$-404,479
Other Revenue
$479
All Other Contributions
$25,385
Change in Net Assets
$-945,792
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$860,033
Salaries, Compensation, and Employee Benefits$305,067
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest---$224,975
Depreciation Depletion---$221,092
Current Officers, Directors, Trustees, and Key Employees---$126,080
Other Salaries and Wages---$99,729
Advertising---$93,842
Other Employee Benefits---$55,537
Fees for Services Accounting---$24,335
Occupancy---$21,600
Payroll Taxes---$17,516
Fees for Services Legal---$15,862
All Other Expenses---$11,442
Other Expenses---$7,836
Pension Plan Contributions---$6,205
Total Functional Expenses$0$0$0$1,165,100
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
No
Annual disclosure for covered persons
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 treasurer 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

Filer Name
Watertown Development Company
EIN
46-6012194
Phone
6058868425
Address
PO BOX 332, WATERTOWN, SD 57201

Signing Officer

Name
Steve Lehner
Title
Secretary/treasurer
Phone
6058840340
Signed
2017-10-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Steve Lehner
Formed
1947
Legal Domicile
Sd
Voting Board Members
13
Independent Board Members
13
Employees
4
Volunteers
13

Preparer

Firm
Vilhauer Raml & Snyder Pc
Address
PO BOX 1267, WATERTOWN, SD 57201-6267
Preparer
Mary Antony
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/PledgesAndGrantsReceivableGrp/BOYAmt0972956
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0570231
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt04908
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt06130
IRS990/PrincipalOfficerNm0STEVE LEHNER
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0QUALIFYING RENT INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0460643
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0460643
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0109513
IRS990/PYInvestmentIncomeAmt0158830
IRS990/PYOtherExpensesAmt0841188
IRS990/PYOtherRevenueAmt01802
IRS990/PYProgramServiceRevenueAmt0482016
IRS990/PYRevenuesLessExpensesAmt0-361142
IRS990/PYSalariesCompEmpBnftPaidAmt0272115
IRS990/PYTotalExpensesAmt01113303
IRS990/PYTotalRevenueAmt0752161
IRS990/ReconcilationRevenueExpnssAmt0-945792
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt05868634
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt04922842
IRS990/SavingsAndTempCashInvstGrp/BOYAmt03140987
IRS990/SavingsAndTempCashInvstGrp/EOYAmt02751817
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/EquipmentGrp/DepreciationAmt02937
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt02937
IRS990ScheduleD/LandGrp/BookValueAmt0186275
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0186275
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt06218684
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt01308402
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt07527086
IRS990ScheduleD/TotalBookValueLandBuildingsAmt06404959
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 TREASURER 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/TotalAssetsBOYAmt012414276
IRS990/TotalAssetsEOYAmt010276126
IRS990/TotalAssetsGrp/BOYAmt012414276
IRS990/TotalAssetsGrp/EOYAmt010276126
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0162665
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt01165100
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt05663676
IRS990/TotalLiabilitiesEOYAmt04471318
IRS990/TotalLiabilitiesGrp/BOYAmt05663676
IRS990/TotalLiabilitiesGrp/EOYAmt04471318
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt06750600
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt05804808
IRS990/TotalProgramServiceExpensesAmt01057096
IRS990/TotalProgramServiceRevenueAmt0460643
IRS990/TotalReportableCompFromOrgAmt0126080
IRS990/TotalRevenueGrp/ExclusionAmt06357
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt050286
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0219308
IRS990/TotalVolunteersCnt013
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt012414276
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt010276126
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 332
IRS990/USAddress/CityNm0WATERTOWN
IRS990/USAddress/StateAbbreviationCd0SD
IRS990/USAddress/ZIPCd057201
IRS990/VotingMembersGoverningBodyCnt013
IRS990/VotingMembersIndependentCnt013
IRS990/WebsiteAddressTxt0WWW.WATERTOWNDEVELOPMENTCO.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0STEVE LEHNER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY/TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum06058840340
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-10-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WATERTOWN DEVELOPMENT COMPANY
ReturnHeader/Filer/BusinessNameControlTxt0WATE
ReturnHeader/Filer/EIN0466012194
ReturnHeader/Filer/PhoneNum06058868425
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 332
ReturnHeader/Filer/USAddress/CityNm0WATERTOWN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0SD
ReturnHeader/Filer/USAddress/ZIPCd057201
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId048660846F2B3A0000BCC9330575FA2D69B31BE10
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId07D6D6337EF233A199007067B3537EBCDE1185D99
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0460414067
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0VILHAUER RAML & SNYDER PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 1267
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WATERTOWN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0SD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0572016267
ReturnHeader/PreparerPersonGrp/PhoneNum06058868425
ReturnHeader/PreparerPersonGrp/PreparationDt02017-10-25
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MARY ANTONY
ReturnHeader/ReturnTs02017-11-01T16:16:00-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-08-01
ReturnHeader/TaxPeriodEndDt02017-07-31
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$10,276,126
Liabilities
$4,471,318
Net assets
$5,804,808
Revenue
$219,308
Expenses
$1,165,100
Net income
-$945,792
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