Civic Intelligence

Wall Economic Development Corporation

990 • Fiscal year 2019 • EIN 81-2560895

Jan 01, 2019 to Dec 31, 2019 • Filed on Jul 15, 2020

501 Main StreetWall, SD 57790

(605) 279-2658

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

$84,422

No earlier filing loaded for comparison.

Net Assets

$83,439

No earlier filing loaded for comparison.

Liabilities

$983

No earlier filing loaded for comparison.

Revenue And Expenses

Revenue

$75,705

No earlier filing loaded for comparison.

Expenses

$2,142

No earlier filing loaded for comparison.

Net Income

$73,563

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$200K$150K$100K$50K$0Assets 2019: $84,422Liabilities 2019: $983Net Assets 2019: $83,4392019Assets 2020: $111,311Liabilities 2020: $0Net Assets 2020: $111,3112020Assets 2021: $119,089Liabilities 2021: $0Net Assets 2021: $119,0892021Assets 2022: $132,138Liabilities 2022: $0Net Assets 2022: $132,1382022Assets 2023: $153,296Net Assets 2023: $153,2962023Assets 2024: $171,830Net Assets 2024: $171,8302024

Highlighted filing

2019

Assets$84,422
Liabilities$983
Net Assets$83,439

Operations Trend

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

$100K$50K$0Revenue 2019: $75,705Expenses 2019: $2,142Net Income 2019: $73,5632019Revenue 2020: $85,715Expenses 2020: $57,843Net Income 2020: $27,8722020Revenue 2021: $61,102Expenses 2021: $53,324Net Income 2021: $7,7782021Revenue 2022: $66,378Expenses 2022: $53,329Net Income 2022: $13,0492022Revenue 2023: $49,119Expenses 2023: $27,961Net Income 2023: $21,1582023Revenue 2024: $51,229Expenses 2024: $32,696Net Income 2024: $18,5332024

Highlighted filing

2019

Revenue$75,705
Expenses$2,142
Net Income$73,563
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Jul 15, 2020
Return Version
2019v5.0
Gross Receipts
$75,705
Mission and Program Overview

Mission

The mission of the organization is to be a catalyst to encourage, facilitate, and empower community members to generate dynamic growth in the community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$9,876$84,421▲ $74,545
Cash and Non-Interest-Bearing Accounts-$1-
Total Assets$9,876$84,422▲ $74,546
Liabilities
Other Liabilities-$983-
Total Liabilities$0$983▲ $983
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$9,876$71,505▲ $61,629
Net Assets With Donor Restrictions-$11,934-
Total Net Assets Fund Balance$9,876$83,439▲ $73,563
Total Liabilities and Net Assets / Fund Balance$9,876$84,422▲ $74,546
Compensation and Service Providers

Board Members and Trustees

NameTitle
Marty HuetherPresident
Liliya StoneDirector
Andrew LawMember
Carolynn AndersonMember
Cindy HaukMember
Josh GeigleMember
Kalie KjerstadMember
Dani HerringSecretary/tr
Mary WilliamsVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$74,045
Program Service Revenue
$1,650
Investment Income
$10
Other Revenue
$0
All Other Contributions
$24,045
Change in Net Assets
$73,563
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,642
Grants and Similar Amounts Paid$500
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Advertising---$1,329
Grants to Domestic Individuals---$500
Office Expenses---$223
Travel---$90
Total Functional Expenses$0$0$0$2,142
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
Amounts Held for Others$983
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
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
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

Return is presented to and reveiwed by board of directors

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

PERIODIC REVIEW

Form 990, Page 6, Part VI, Line 19

ON REQUEST

Filing and Contact Details

Filer

Filer Name
Wall Economic Development
EIN
81-2560895
Phone
6052792658
Address
501 MAIN STREET, WALL, SD 57790

Signing Officer

Name
Liliya Stone
Title
Director
Phone
6052792658
Signed
2020-07-15

Organization Details

Principal Officer
Liliya Stone
Legal Domicile
Sd
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
9

Preparer

Firm
Wohlenberg Ritzman & Co LLC
Address
PO BOX 1018, YANKTON, SD 57078
Preparer
Kathleen Doyle
Phone
6056654401
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Part I, Line 6

Board members serve without compensation

Form 990, Page 2, Part III, Line 2

The pilot program "beef to school" kicked off on friday, january 4, 2019 at the wall school. Ninety pounds of locally raised beef was served to over 200 students during the lunch time. The wall school lunch program, wall meat processing, the wall ffa and the ag committee of the wall economic development corporation have been working to be the first in south dakota to utilize locally raised beef in their school lunch program. This program started as a pilot project. Local ranchers are donating the beef. Wall meat processing is contributing the cost of processing two head and delivering the beef to school. The purpose of this program is also educational. We are educating our kids about what they eat, where it comes from, and how important it is to eat fresh food that comes from natural sources. This program will offer students an opportunity to engage in conversation and activities revolving around beef nutrition. That is an important element in building beef demand for our future generations. "the major thing about local food is that it helps your local economy. That money goes back to the community and gets spent several times", said a local rancher. The pilot program "beef to school" will continue throughout the semester and become sustainable. If it continues to go well, the school will procure locally raised beef from wall meats for next year. The wall ffa students plan to visit each elementary classroom this semester utilizing the curriculum provided by the sd beef council.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE PILOT PROGRAM "BEEF TO SCHOOL" KICKED OFF ON FRIDAY, JANUARY 4, 2019 AT THE WALL SCHOOL. NINETY POUNDS OF LOCALLY RAISED BEEF WAS SERVED TO OVER 200 STUDENTS DURING THE LUNCH TIME. THE WALL SCHOOL LUNCH PROGRAM, WALL MEAT PROCESSING, THE WALL FFA AND THE AG COMMITTEE OF THE WALL ECONOMIC DEVELOPMENT CORPORATION HAVE BEEN WORKING TO BE THE FIRST IN SOUTH DAKOTA TO UTILIZE LOCALLY RAISED BEEF IN THEIR SCHOOL LUNCH PROGRAM. THIS PROGRAM STARTED AS A PILOT PROJECT. LOCAL RANCHERS ARE DONATING THE BEEF. WALL MEAT PROCESSING IS CONTRIBUTING THE COST OF PROCESSING TWO HEAD AND DELIVERING THE BEEF TO SCHOOL. THE PURPOSE OF THIS PROGRAM IS ALSO EDUCATIONAL. WE ARE EDUCATING OUR KIDS ABOUT WHAT THEY EAT, WHERE IT COMES FROM, AND HOW IMPORTANT IT IS TO EAT FRESH FOOD THAT COMES FROM NATURAL SOURCES. THIS PROGRAM WILL OFFER STUDENTS AN OPPORTUNITY TO ENGAGE IN CONVERSATION AND ACTIVITIES REVOLVING AROUND BEEF NUTRITION. THAT IS AN IMPORTANT ELEMENT IN BUILDING BEEF DEMAND FOR OUR FUTURE GENERATIONS. "THE MAJOR THING ABOUT LOCAL FOOD IS THAT IT HELPS YOUR LOCAL ECONOMY. THAT MONEY GOES BACK TO THE COMMUNITY AND GETS SPENT SEVERAL TIMES", SAID A LOCAL RANCHER. THE PILOT PROGRAM "BEEF TO SCHOOL" WILL CONTINUE THROUGHOUT THE SEMESTER AND BECOME SUSTAINABLE. IF IT CONTINUES TO GO WELL, THE SCHOOL WILL PROCURE LOCALLY RAISED BEEF FROM WALL MEATS FOR NEXT YEAR. THE WALL FFA STUDENTS PLAN TO VISIT EACH ELEMENTARY CLASSROOM THIS SEMESTER UTILIZING THE CURRICULUM PROVIDED BY THE SD BEEF COUNCIL.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PERIODIC REVIEW
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