Civic Intelligence

Enterprise 605 Inc

990 • Fiscal year 2019 • EIN 81-2776110

Jan 01, 2019 to Dec 31, 2019 • Filed on Sep 08, 2020

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

7th percentile

0.00x

Higher debt load relative to assets than 7% of similar nonprofits.

2019 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

68th percentile

0.45x

Higher debt load relative to revenue than 68% of similar nonprofits.

2019 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2019

Net Margin

1st percentile

-8187%

Higher net margin than 1% of similar nonprofits.

2019 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

12th percentile

$0

Higher top officer pay than 12% of similar nonprofits.

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

2019 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2019

Asset Growth

4th percentile

-18%

Faster asset growth than 4% of similar nonprofits.

2019 filings • 501(c)6 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

1st percentile

-99%

Faster revenue growth than 1% of similar nonprofits.

2019 filings • 501(c)6 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets7th percentile

Assets

Down

$7,203,482

Down $1,562,826 (-18%) from 2018

Net Assets

Down

$7,195,263

Down $1,571,045 (-18%) from 2018

Liabilities

Up

$8,219

Up $8,219 from 2018

Revenue And Expenses
Liabilities / Revenue68th percentileNet Margin1st percentile

Revenue

Down

$18,351

Down $2,999,050 (-99%) from 2018

Expenses

Up

$1,520,818

Up $1,508,638 (+12386%) from 2018

Net Income

Down

-$1,502,467

Down $4,507,688 (-150%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth4th 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

2019

Assets$7,203,482
Liabilities$8,219
Net Assets$7,195,263
Open 2019 Filing

Operations Trend

Revenue Growth1st 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

2019

Revenue$18,351
Expenses$1,520,818
Net Income-$1,502,467
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Sep 8, 2020
Return Version
2019v5.0
Gross Receipts
$18,351
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$8,415,322$3,937,745▼ $4,477,577
Investments Program Related$350,986$3,265,737▲ $2,914,751
Total Assets$8,766,308$7,203,482▼ $1,562,826
Liabilities
Accounts Payable and Accrued Expenses-$8,219-
Total Liabilities$0$8,219▲ $8,219
Net Assets / Fund Balance
Net Assets With Donor Restrictions$7,884,045$6,365,467▼ $1,518,578
Net Assets Without Donor Restrictions$882,263$829,796▼ $52,467
Total Net Assets Fund Balance$8,766,308$7,195,263▼ $1,571,045
Total Liabilities and Net Assets / Fund Balance$8,766,308$7,203,482▼ $1,562,826

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$3,265,737--
Compensation and Service Providers
Top Officer Pay12th 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
$0
Program Service Revenue
$0
Investment Income
$17,851
Other Revenue
$500
Change in Net Assets
$-1,502,467

Audited Revenue Reconciliation

Revenue per Audited Statements
$18,351
Revenue Not Reported on Form 990
$-68,578
Total Revenue per Audited Statements
$-50,227
Total Revenue per Form 990
$18,351
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,520,818
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
Other Expenses$1,450,000--$1,450,000
Fees for Services Other$54,547$1,144-$55,691
Fees for Services Accounting-$11,768-$11,768
Insurance-$3,164-$3,164
Office Expenses-$195-$195
Total Functional Expenses$1,504,547$16,271$0$1,520,818

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,520,818
Total Expenses per Audited Statements$1,520,818
Total Expenses per Form 990$1,520,818
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 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 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
2020-09-08
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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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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 6
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
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,203,482
Liabilities
$8,219
Net assets
$7,195,263
Revenue
$18,351
Expenses
$1,520,818
Net income
-$1,502,467
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