Civic Intelligence

Watertown Development Company

990 • Fiscal year 2018 • EIN 46-6012194

Aug 01, 2017 to Jul 31, 2018 • Filed on Sep 10, 2018

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

74th percentile

0.43x

Higher debt load relative to assets than 74% of similar nonprofits.

2018 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2018

Liabilities / Revenue

99th percentile

5.86x

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

2018 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2018

Net Margin

4th percentile

-34%

Higher net margin than 4% of similar nonprofits.

2018 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2018

Top Officer Pay

12th percentile

$60,779

Higher top officer pay than 12% of similar nonprofits.

Top officer pay equals 8.4% of source-year revenue.

2018 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2018

Asset Growth

23rd percentile

-4.8%

Faster asset growth than 23% of similar nonprofits.

2018 filings • 501(c)6 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Revenue Growth

99th percentile

229%

Faster revenue growth than 99% of similar nonprofits.

2018 filings • 501(c)6 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Assets

Down

$9,781,733

Down $494,393 (-4.8%) from 2017

Net Assets

Down

$5,560,125

Down $244,683 (-4.2%) from 2017

Liabilities

Down

$4,221,608

Down $249,710 (-5.6%) from 2017

Revenue

Up

$720,867

Up $501,559 (+229%) from 2017

Expenses

Down

$965,550

Down $199,550 (-17%) from 2017

Net Income

Up

-$244,683

Up $701,109 (+74%) from 2017

Historical Trend

Balance Sheet Trend

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

2018

Assets$9,781,733
Liabilities$4,221,608
Net Assets$5,560,125

Operations Trend

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

2018

Revenue$720,867
Expenses$965,550
Net Income-$244,683
Jump To
Filing Snapshot
Filing Period
Aug 1, 2017 to Jul 31, 2018
Signed
Sep 10, 2018
Return Version
2017v2.3
Gross Receipts
$720,867
Mission and Program Overview

Mission

Economic development in the watertown, sd area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$6,404,959$6,212,506▼ $192,453
Rtn Earn Endowment Incm Other Fnds$4,922,842$4,678,159▼ $244,683
Savings and Temporary Cash Investments$2,751,817$2,317,492▼ $434,325
Cap Stk Tr Prin Current Funds$881,966$881,966→ $0
Pledges and Grants Receivable$570,231$122,382▼ $447,849
Investments Other Securities$100,676$102,607▲ $1,931
Accounts Receivable$32,425$28,650▼ $3,775
Prepaid Expenses and Deferred Charges$6,130$781▼ $5,349
Total Assets$10,276,126$9,781,733▼ $494,393
Other Assets Total$409,888$997,315▲ $587,427
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,357,451$4,112,916▼ $244,535
Accounts Payable and Accrued Expenses$113,867$108,692▼ $5,175
Total Liabilities$4,471,318$4,221,608▼ $249,710
Net Assets / Fund Balance
Total Net Assets Fund Balance$5,804,808$5,560,125▼ $244,683
Total Liabilities and Net Assets / Fund Balance$10,276,126$9,781,733▼ $494,393

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$6,026,231$1,500,855$7,527,086
Land$186,275-$186,275
Equipment-$2,937$2,937
Other Assets Org$997,315--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Chris SchilkenPresidentFT$60,779$60,779

Board Members and Trustees

NameTitle
Jill FullerChairperson
Jim RedlingerVice Chairma
Curt TregoBoard Member
Dewayne HibbertBoard Member
Don RoehrichBoard 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
$104,280
Program Service Revenue
$607,975
Investment Income
$6,681
Other Revenue
$1,931
Change in Net Assets
$-244,683
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$619,672
Salaries, Compensation, and Employee Benefits$303,278
Professional Fundraising Fees$42,600
Total Fundraising Expense$42,600
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$219,734--$219,734
Depreciation Depletion$192,453--$192,453
Interest$155,962--$155,962
Other Employee Benefits$62,374--$62,374
Advertising$47,851--$47,851
Fees for Services Professional Fundraising--$42,600$42,600
Fees for Services Accounting$24,708--$24,708
Occupancy$21,800--$21,800
Fees for Services Legal$19,525--$19,525
Payroll Taxes$17,968--$17,968
Other Expenses$12,570--$12,570
All Other Expenses$10,175--$10,175
Pension Plan Contributions$3,202--$3,202
Total Functional Expenses$922,950$0$42,600$965,550
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$42,600
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 director 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
Chris Schilken
Title
President
Phone
6058840340
Signed
2018-09-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Chris Schilken
Formed
1947
Legal Domicile
Sd
Voting Board Members
11
Independent Board Members
11
Employees
4
Volunteers
11

Preparer

Firm
Vrs Pc
Address
PO BOX 1267, WATERTOWN, SD 57201-6267
Preparer
Mary Antony
Phone
6058868425
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0478759
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1129216
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0162665
IRS990/PYInvestmentIncomeAmt0-404479
IRS990/PYOtherExpensesAmt0860033
IRS990/PYOtherRevenueAmt0479
IRS990/PYProgramServiceRevenueAmt0460643
IRS990/PYRevenuesLessExpensesAmt0-945792
IRS990/PYSalariesCompEmpBnftPaidAmt0305067
IRS990/PYTotalExpensesAmt01165100
IRS990/PYTotalRevenueAmt0219308
IRS990/ReconcilationRevenueExpnssAmt0-244683
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt04922842
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt04678159
IRS990/SavingsAndTempCashInvstGrp/BOYAmt02751817
IRS990/SavingsAndTempCashInvstGrp/EOYAmt02317492
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/DepreciationAmt02937
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt02937
IRS990ScheduleD/LandGrp/BookValueAmt0186275
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0186275
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0997315
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0LAND HELD FOR DEVELOPMENT
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt06026231
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt01500855
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt07527086
IRS990ScheduleD/TotalBookValueLandBuildingsAmt06212506
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0997315
IRS990ScheduleG/AgrmtProfFundraisingActyInd0true
IRS990ScheduleG/FundraiserActivityInfoGrp/ActivityTxt0FUNDRAISER
IRS990ScheduleG/FundraiserActivityInfoGrp/FundraiserControlOfFundsInd0false
IRS990ScheduleG/FundraiserActivityInfoGrp/NetToOrganizationAmt0-42600
IRS990ScheduleG/FundraiserActivityInfoGrp/OrganizationBusinessName/BusinessNameLine1Txt0NATIONAL COMMUNITY DEVELOPMENT SERV
IRS990ScheduleG/FundraiserActivityInfoGrp/RetainedByContractorAmt042600
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/AddressLine1Txt06300 POWERS FERRY ROAD STE 600-165
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/CityNm0ATLANTA
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/StateAbbreviationCd0GA
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/ZIPCd030339
IRS990ScheduleG/SupplementalInformationDetail/ExplanationTxt0NATIONAL COMMUNITY DEVELOPMENT SERV FUNDS WILL BE RAISED IN NEXT FISCAL YEAR
IRS990ScheduleG/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE G, PAGE 1, PART I, LINE 2B, COLUMN (V)
IRS990ScheduleG/TotalNetToOrganizationAmt0-42600
IRS990ScheduleG/TotalRetainedByContractorsAmt042600
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 DIRECTOR 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/TotalAssetsBOYAmt010276126
IRS990/TotalAssetsEOYAmt09781733
IRS990/TotalAssetsGrp/BOYAmt010276126
IRS990/TotalAssetsGrp/EOYAmt09781733
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0104280
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt042600
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0922950
IRS990/TotalFunctionalExpensesGrp/TotalAmt0965550
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt04471318
IRS990/TotalLiabilitiesEOYAmt04221608
IRS990/TotalLiabilitiesGrp/BOYAmt04471318
IRS990/TotalLiabilitiesGrp/EOYAmt04221608
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt05804808
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt05560125
IRS990/TotalProgramServiceExpensesAmt0922950
IRS990/TotalProgramServiceRevenueAmt0607975
IRS990/TotalReportableCompFromOrgAmt060779
IRS990/TotalRevenueGrp/ExclusionAmt08612
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0607975
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0720867
IRS990/TotalVolunteersCnt011
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt010276126
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt09781733
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 332
IRS990/USAddress/CityNm0WATERTOWN
IRS990/USAddress/StateAbbreviationCd0SD
IRS990/USAddress/ZIPCd057201
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WebsiteAddressTxt0WWW.WATERTOWNDEVELOPMENTCO.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0CHRIS SCHILKEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06058840340
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-09-10
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/AtSubmissionCreationDeviceId0D222FC9E62A7D2120ECA42C97CCA8EC5662CEDB2
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0AF4821F9D76A72C859D343DB89F1B8E206218165
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0167.68.16.49
ReturnHeader/FilingSecurityInformation/IPDt02018-09-13
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm016:09:12
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0460414067
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0VRS PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 1267
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WATERTOWN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0SD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0572016267
ReturnHeader/PreparerPersonGrp/PhoneNum06058868425
ReturnHeader/PreparerPersonGrp/PreparationDt02018-09-07
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MARY ANTONY
ReturnHeader/ReturnTs02018-09-13T16:09:12-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-08-01
ReturnHeader/TaxPeriodEndDt02018-07-31
ReturnHeader/TaxYr02017

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

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