Civic Intelligence

Enterprise 605 Inc

990 • Fiscal year 2021 • EIN 81-2776110

Jan 01, 2021 to Dec 31, 2021 • Filed on Sep 14, 2022

Organization Profile
401 South Main Street Suite 212Aberdeen, SD 57402

(605) 225-4850

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.

2021 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2021

Liabilities / Revenue

6th percentile

0.00x

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

2021 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2021

Net Margin

3rd percentile

-72%

Higher net margin than 3% of similar nonprofits.

2021 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2021

Top Officer Pay

13th percentile

$0

Higher top officer pay than 13% of similar nonprofits.

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

2021 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2021

Asset Growth

33rd percentile

6.4%

Faster asset growth than 33% of similar nonprofits.

2021 filings • 501(c)6 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Revenue Growth

98th percentile

274%

Faster revenue growth than 98% of similar nonprofits.

2021 filings • 501(c)6 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets6th percentile

Assets

Up

$7,947,537

Up $478,789 (+6.4%) from 2020

Net Assets

Up

$7,947,537

Up $478,789 (+6.4%) from 2020

Liabilities

Flat

$0

Flat from 2020

Revenue And Expenses
Liabilities / Revenue6th percentileNet Margin3rd percentile

Revenue

Up

$17,296

Up $12,670 (+274%) from 2020

Expenses

Up

$29,833

Up $13,501 (+83%) from 2020

Net Income

Down

-$12,537

Down $831 (-7.1%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth33rd 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

2021

Assets$7,947,537
Liabilities$0
Net Assets$7,947,537
Open 2021 Filing

Operations Trend

Revenue Growth98th 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

2021

Revenue$17,296
Expenses$29,833
Net Income-$12,537
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Sep 14, 2022
Return Version
2021v4.0
Gross Receipts
$17,296
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
Investments Program Related$4,702,573$5,337,653▲ $635,080
Savings and Temporary Cash Investments$2,766,175$2,609,884▼ $156,291
Total Assets$7,468,748$7,947,537▲ $478,789
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets With Donor Restrictions$6,650,658$7,141,984▲ $491,326
Net Assets Without Donor Restrictions$818,090$805,553▼ $12,537
Total Net Assets Fund Balance$7,468,748$7,947,537▲ $478,789
Total Liabilities and Net Assets / Fund Balance$7,468,748$7,947,537▲ $478,789

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$5,337,653--
Compensation and Service Providers
Top Officer Pay13th percentile

Board Members and Trustees

NameTitle
Robert FoubergPresident
Dana DykhouseBoard Member
David ChicoineBoard Member
David EmeryBoard Member
Venkey VenkatachalamBoard Member
David LinkTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$15,000
Program Service Revenue
$0
Investment Income
$2,296
Other Revenue
$0
All Other Contributions
$15,000
Change in Net Assets
$-12,537

Audited Revenue Reconciliation

Revenue per Audited Statements
$17,296
Revenue Not Reported on Form 990
$491,326
Total Revenue per Audited Statements
$508,622
Total Revenue per Form 990
$17,296
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$29,833
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---$17,413
Fees for Services Other---$7,488
Insurance---$3,815
Other Expenses---$1,002
Office Expenses---$115
Total Functional Expenses$0$0$0$29,833

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$29,833
Total Expenses per Audited Statements$29,833
Total Expenses per Form 990$29,833
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
6052254850
Address
401 SOUTH MAIN STREET SUITE 212, ABERDEEN, SD 57402

Signing Officer

Name
Robert Fouberg
Title
President
Phone
6052254850
Signed
2022-09-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert Fouberg
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.”

Form 990, Part IX, Line 11G

“Professional fees 0 2,035 0 internship 5,453 0 0 total 5,453 2,035 0”

Financial Statement Notes

Schedule D, Page 3, Part X

“At december 31, 2021, 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/ExplanationTxt0AT DECEMBER 31, 2021, THE CORPORATION BELIEVES THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS OR LIABILITIES, OR INTEREST AND PENALTIES ASSOCIATED WITH MATERIAL UNCERTAIN TAX POSITIONS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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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/ExplanationTxt5PROFESSIONAL FEES 0 2,035 0 INTERNSHIP 5,453 0 0 TOTAL 5,453 2,035 0
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART IX, LINE 11G
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IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt07468748
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt07947537
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0401 SOUTH MAIN STREET SUITE 212
IRS990/USAddress/CityNm0ABERDEEN
IRS990/USAddress/StateAbbreviationCd0SD
IRS990/USAddress/ZIPCd057402
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ROBERT FOUBERG
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06052254850
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-09-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ENTERPRISE 605 INC
ReturnHeader/Filer/BusinessNameControlTxt0ENTE
ReturnHeader/Filer/EIN0812776110
ReturnHeader/Filer/PhoneNum06052254850
ReturnHeader/Filer/USAddress/AddressLine1Txt0401 SOUTH MAIN STREET SUITE 212
ReturnHeader/Filer/USAddress/CityNm0ABERDEEN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0SD
ReturnHeader/Filer/USAddress/ZIPCd057402
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0460257538
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0KETEL THORSTENSON LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 3140
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0RAPID CITY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0SD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0577093140
ReturnHeader/PreparerPersonGrp/PhoneNum06053425630
ReturnHeader/PreparerPersonGrp/PreparationDt02022-09-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0TRACI HANSON CPA
ReturnHeader/ReturnTs02022-09-14T17:50:02-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0ROBERT
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0FOUBERG
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,947,537
Liabilities
$0
Net assets
$7,947,537
Revenue
$17,296
Expenses
$29,833
Net income
-$12,537
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