Civic Intelligence

Enterprise 605 Inc

990 • Fiscal year 2018 • EIN 81-2776110

Jan 01, 2018 to Dec 31, 2018 • Filed on Sep 30, 2019

Organization Profile
600 South Main Avenue Suite 102Sioux Falls, SD 57104

(605) 366-9510

Siviq Scores

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

Liabilities / Assets

6th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

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

Liabilities / Revenue

6th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

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

Net Margin

100th percentile

100%

Higher net margin than 100% of similar nonprofits.

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

Top Officer Pay

10th percentile

$0

Higher top officer pay than 10% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

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

Asset Growth

96th percentile

47%

Faster asset growth than 96% of similar nonprofits.

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

Revenue Growth

100th percentile

32759%

Faster revenue growth than 100% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets6th percentile

Assets

Up

$8,766,308

Up $2,789,266 (+47%) from 2017

Net Assets

Up

$8,766,308

Up $2,789,266 (+47%) from 2017

Liabilities

Flat

$0

Flat from 2017

Revenue And Expenses
Liabilities / Revenue6th percentileNet Margin100th percentile

Revenue

Up

$3,017,401

Up $3,008,218 (+32759%) from 2017

Expenses

Down

$12,180

Down $4,865 (-29%) from 2017

Net Income

Up

$3,005,221

Up $3,013,083 (+38325%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth96th percentile

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

$10M$5.0M$0Assets 2016: $5,984,904Liabilities 2016: $0Net Assets 2016: $5,984,9042016Assets 2017: $5,977,042Liabilities 2017: $0Net Assets 2017: $5,977,0422017Assets 2018: $8,766,308Liabilities 2018: $0Net Assets 2018: $8,766,3082018Assets 2019: $7,203,482Liabilities 2019: $8,219Net Assets 2019: $7,195,2632019Assets 2020: $7,468,748Liabilities 2020: $0Net Assets 2020: $7,468,7482020Assets 2021: $7,947,537Liabilities 2021: $0Net Assets 2021: $7,947,5372021Assets 2022: $7,588,499Liabilities 2022: $0Net Assets 2022: $7,588,4992022Assets 2023: $6,811,279Liabilities 2023: $0Net Assets 2023: $6,811,2792023Assets 2024: $6,891,105Liabilities 2024: $0Net Assets 2024: $6,891,1052024

Highlighted filing

2018

Assets$8,766,308
Liabilities$0
Net Assets$8,766,308
Open 2018 Filing

Operations Trend

Revenue Growth100th percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2016: $6,003,134Expenses 2016: $18,230Net Income 2016: $5,984,9042016Revenue 2017: $9,183Expenses 2017: $17,045Net Income 2017: -$7,8622017Revenue 2018: $3,017,401Expenses 2018: $12,180Net Income 2018: $3,005,2212018Revenue 2019: $18,351Expenses 2019: $1,520,818Net Income 2019: -$1,502,4672019Revenue 2020: $4,626Expenses 2020: $16,332Net Income 2020: -$11,7062020Revenue 2021: $17,296Expenses 2021: $29,833Net Income 2021: -$12,5372021Revenue 2022: $5,798Expenses 2022: $19,000Net Income 2022: -$13,2022022Revenue 2023: $10,234Expenses 2023: $22,766Net Income 2023: -$12,5322023Revenue 2024: $7,731Expenses 2024: $20,652Net Income 2024: -$12,9212024

Highlighted filing

2018

Revenue$3,017,401
Expenses$12,180
Net Income$3,005,221
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Sep 30, 2019
Return Version
2018v3.1
Gross Receipts
$3,017,401
Mission and Program Overview

Mission

Promoting the interests and economic development of the state of south dakota by fostering entrepreneurship opportunities and expansion of businesses and supporting growth and development of business concerns in south dakota through education, informing public opinion germane to economic development in south dakota, an internship program focused on economic development, and providing financial support to south dakota businesses or businesses who plan to do business in south dakota.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$5,977,042$8,415,322▲ $2,438,280
Investments Program Related-$350,986-
Total Assets$5,977,042$8,766,308▲ $2,789,266
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Temporarily Rstr Net Assets$5,400,000$7,884,045▲ $2,484,045
Unrestricted Net Assets$577,042$882,263▲ $305,221
Total Net Assets Fund Balance$5,977,042$8,766,308▲ $2,789,266
Total Liabilities and Net Assets / Fund Balance$5,977,042$8,766,308▲ $2,789,266
Compensation and Service Providers
Top Officer Pay10th percentile

Board Members and Trustees

NameTitle
David LinkPresident
Dana DykhouseBoard Member
David ChicoineBoard Member
David EmeryBoard Member
Venkey VenkatachalamBoard Member
Robert FoubergTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$3,000,000
Program Service Revenue
$0
Investment Income
$16,801
Other Revenue
$600
All Other Contributions
$3,000,000
Change in Net Assets
$3,005,221

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,017,401
Revenue Not Reported on Form 990
$-215,955
Total Revenue per Audited Statements
$2,801,446
Total Revenue per Form 990
$3,017,401
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$12,180
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Accounting-$8,846-$8,846
Insurance-$3,164-$3,164
Office Expenses-$170-$170
Total Functional Expenses$0$12,180$0$12,180

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$12,180
Total Expenses per Audited Statements$12,180
Total Expenses per Form 990$12,180
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
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
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“There is one class of members. A member shall be a representative of the business community in south dakota and have an interest in promoting economic development in south dakota. Total member shall be no less than 5 or more than 10.”

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

“The 990 tax return was reviewed by the president and the outside certified public accountant, and then submitted to the full board for their review and approval.”

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

“Monitor through disclosure document and discussion at a board meeting”

Form 990, Page 6, Part VI, Line 19

“UPON WRITTEN REQUEST”

Filing and Contact Details

Filer

Filer Name
Enterprise 605 Inc
EIN
81-2776110
Phone
6053669510
Address
600 SOUTH MAIN AVENUE SUITE 102, SIOUX FALLS, SD 57104

Signing Officer

Name
David Link
Title
President
Phone
6053669510
Signed
2019-09-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Link
Formed
2016
Legal Domicile
Sd
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
6

Preparer

Firm
Ketel Thorstenson Llp
Address
PO BOX 3140, RAPID CITY, SD 57709-3140
Preparer
Traci Hanson CPA
Phone
6053425630
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Promoting the interests and economic development of the state of south dakota by fostering entrepreneurship opportunities and expansion of businesses and supporting growth and development of business concerns in south dakota through education, informing public opinion germane to economic development in south dakota, an internship program focused on economic development, and providing financial support to south dakota businesses or businesses who plan to do business in south dakota.”

Financial Statement Notes

Schedule D, Page 3, Part X

“The corporation believes there are no material uncertain tax positions or liabilities, or interest and penalties associated with material uncertain tax positions.”

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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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION BELIEVES THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS OR LIABILITIES, OR INTEREST AND PENALTIES ASSOCIATED WITH MATERIAL UNCERTAIN TAX POSITIONS.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PROMOTING THE INTERESTS AND ECONOMIC DEVELOPMENT OF THE STATE OF SOUTH DAKOTA BY FOSTERING ENTREPRENEURSHIP OPPORTUNITIES AND EXPANSION OF BUSINESSES AND SUPPORTING GROWTH AND DEVELOPMENT OF BUSINESS CONCERNS IN SOUTH DAKOTA THROUGH EDUCATION, INFORMING PUBLIC OPINION GERMANE TO ECONOMIC DEVELOPMENT IN SOUTH DAKOTA, AN INTERNSHIP PROGRAM FOCUSED ON ECONOMIC DEVELOPMENT, AND PROVIDING FINANCIAL SUPPORT TO SOUTH DAKOTA BUSINESSES OR BUSINESSES WHO PLAN TO DO BUSINESS IN SOUTH DAKOTA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THERE IS ONE CLASS OF MEMBERS. A MEMBER SHALL BE A REPRESENTATIVE OF THE BUSINESS COMMUNITY IN SOUTH DAKOTA AND HAVE AN INTEREST IN PROMOTING ECONOMIC DEVELOPMENT IN SOUTH DAKOTA. TOTAL MEMBER SHALL BE NO LESS THAN 5 OR MORE THAN 10.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE 990 TAX RETURN WAS REVIEWED BY THE PRESIDENT AND THE OUTSIDE CERTIFIED PUBLIC ACCOUNTANT, AND THEN SUBMITTED TO THE FULL BOARD FOR THEIR REVIEW AND APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MONITOR THROUGH DISCLOSURE DOCUMENT AND DISCUSSION AT A BOARD MEETING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4UPON WRITTEN REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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ReturnHeader/FilingSecurityInformation/IPTm010:46:13
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ReturnHeader/ReturnTs02019-10-01T10:46:13-05:00
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ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,766,308
Liabilities
$0
Net assets
$8,766,308
Revenue
$3,017,401
Expenses
$12,180
Net income
$3,005,221
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.89$0.00$6.89$0.01$0.02$0.01
2023Detailed filing. Detailed filing data is available for this year.$6.81$0.00$6.81$0.01$0.02$0.01
2022Detailed filing. Detailed filing data is available for this year.$7.59$0.00$7.59$0.01$0.02$0.01
2021Detailed filing. Detailed filing data is available for this year.$7.95$0.00$7.95$0.02$0.03$0.01
2020Detailed filing. Detailed filing data is available for this year.$7.47$0.00$7.47$0.00$0.02$0.01
2019Detailed filing. Detailed filing data is available for this year.$7.20$0.01$7.20$0.02$1.52$1.50
2018Detailed filing. Detailed filing data is available for this year.$8.77$0.00$8.77$3.02$0.01$3.01
2017Detailed filing. Detailed filing data is available for this year.$5.98$0.00$5.98$0.01$0.02$0.01
2016Summary only. Only limited summary data is available for this year.$5.98$0.00$5.98$6.00$0.02$5.98