Civic Intelligence

Glacial Lakes Area Development Inc

990 • Fiscal year 2020 • EIN 87-0787080

Jan 01, 2020 to Dec 31, 2020 • Filed on Oct 25, 2021

Organization ProfileWWW.GLADSD.COM
PO Box 231Britton, SD 57430

(605) 448-0005

Siviq Scores

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

Liabilities / Assets

81st percentile

0.50x

Higher debt load relative to assets than 81% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

96th percentile

5.33x

Higher debt load relative to revenue than 96% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

77th percentile

24%

Higher net margin than 77% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

53rd percentile

$66,772

Higher top officer pay than 53% of similar nonprofits.

Top officer pay equals 61.1% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

17th percentile

-4.0%

Faster asset growth than 17% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

49th percentile

0.4%

Faster revenue growth than 49% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets81st percentile

Assets

Down

$1,159,133

Down $48,509 (-4.0%) from 2019

Net Assets

Up

$576,802

Up $26,399 (+4.8%) from 2019

Liabilities

Down

$582,331

Down $74,908 (-11%) from 2019

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin77th percentile

Revenue

Up

$109,320

Up $427 (+0.4%) from 2019

Expenses

Down

$82,962

Down $3,292 (-3.8%) from 2019

Net Income

Up

$26,358

Up $3,719 (+16%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth17th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2010: $277,283Net Assets 2010: $277,2832010Assets 2011: $277,305Net Assets 2011: $277,3052011Assets 2012: $375,263Liabilities 2012: $100,025Net Assets 2012: $275,2382012Assets 2013: $420,225Liabilities 2013: $150,000Net Assets 2013: $270,2252013Assets 2014: $948,498Liabilities 2014: $483,270Net Assets 2014: $465,2282014Assets 2015: $1,091,365Liabilities 2015: $604,526Net Assets 2015: $486,8392015Assets 2016: $1,311,447Liabilities 2016: $818,184Net Assets 2016: $493,2632016Assets 2017: $1,537,416Liabilities 2017: $1,046,963Net Assets 2017: $490,4532017Assets 2018: $1,538,649Liabilities 2018: $1,010,845Net Assets 2018: $527,8042018Assets 2019: $1,207,642Liabilities 2019: $657,239Net Assets 2019: $550,4032019Assets 2020: $1,159,133Liabilities 2020: $582,331Net Assets 2020: $576,8022020Assets 2021: $1,139,172Liabilities 2021: $525,514Net Assets 2021: $613,6582021Assets 2022: $1,214,620Liabilities 2022: $573,451Net Assets 2022: $641,1692022Assets 2023: $1,213,591Liabilities 2023: $707,408Net Assets 2023: $506,1832023Assets 2024: $1,638,305Liabilities 2024: $1,114,796Net Assets 2024: $523,5092024

Highlighted filing

2020

Assets$1,159,133
Liabilities$582,331
Net Assets$576,802
Open 2020 Filing

Operations Trend

Revenue Growth49th percentile

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

$400K$200K$0-$200KRevenue 2010: $198,967Expenses 2010: $90,811Net Income 2010: $108,1562010Revenue 2011: $80,693Expenses 2011: $80,669Net Income 2011: $242011Revenue 2012: $101,251Expenses 2012: $103,323Net Income 2012: -$2,0722012Revenue 2013: $82,590Expenses 2013: $87,603Net Income 2013: -$5,0132013Revenue 2014: $287,249Expenses 2014: $91,983Net Income 2014: $195,2662014Revenue 2015: $112,066Expenses 2015: $90,466Net Income 2015: $21,6002015Revenue 2016: $110,345Expenses 2016: $103,921Net Income 2016: $6,4242016Revenue 2017: $95,573Expenses 2017: $79,832Net Income 2017: $15,7412017Revenue 2018: $130,328Expenses 2018: $84,297Net Income 2018: $46,0312018Revenue 2019: $108,893Expenses 2019: $86,254Net Income 2019: $22,6392019Revenue 2020: $109,320Expenses 2020: $82,962Net Income 2020: $26,3582020Revenue 2021: $129,775Expenses 2021: $92,919Net Income 2021: $36,8562021Revenue 2022: $121,070Expenses 2022: $93,559Net Income 2022: $27,5112022Revenue 2023: $115,670Expenses 2023: $250,656Net Income 2023: -$134,9862023Revenue 2024: $129,313Expenses 2024: $111,987Net Income 2024: $17,3262024

Highlighted filing

2020

Revenue$109,320
Expenses$82,962
Net Income$26,358
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Oct 25, 2021
Return Version
2020v4.1
Gross Receipts
$109,320
Mission and Program Overview

Mission

To facilitate regional economic development in northeastern South Dakota.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$550,403$576,802▲ $26,399
Savings and Temporary Cash Investments$267,583$563,239▲ $295,656
Investments Program Related$728,572$485,189▼ $243,383
Cash and Non-Interest-Bearing Accounts$211,115$110,539▼ $100,576
Land, Buildings, and Equipment, Net$372$166▼ $206
Total Assets$1,207,642$1,159,133▼ $48,509
Liabilities
Mortgage Notes Payable Secured by Investment Property$615,046$401,771▼ $213,275
Other Liabilities-$180,560-
Grants Payable$42,193--
Total Liabilities$657,239$582,331▼ $74,908
Net Assets / Fund Balance
Total Net Assets Fund Balance$550,403$576,802▲ $26,399
Total Liabilities and Net Assets / Fund Balance$1,207,642$1,159,133▼ $48,509

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$166$7,174$7,340
Investment Program Related Org$485,189--
Compensation and Service Providers
Top Officer Pay53rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Lindsey KimberExecutive DirectorFT$62,572$4,200$66,772

Board Members and Trustees

NameTitle
Chad HardyPresident
Jennifer KeintzVice President
Ken StrongDirector
Kristin HoflandDirector
Matt SchullerDirector
Peggy PearsonDirector
Ali Jo TonsfeldtSecretarytreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$72,950
Program Service Revenue
$36,242
Investment Income
$128
Other Revenue
$0
All Other Contributions
$28,550
Change in Net Assets
$26,358
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$66,772
Other Expenses$16,190
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$30,000$32,572-$62,572
Interest$7,861--$7,861
Pension Plan Contributions$2,200$2,000-$4,200
Information Technology-$1,738-$1,738
Office Expenses-$1,674-$1,674
Other Expenses$1,568--$1,568
Insurance-$1,484-$1,484
Fees for Services Accounting-$1,120-$1,120
Fees for Services Other$335--$335
Depreciation Depletion$206--$206
Travel$204--$204
Total Functional Expenses$42,374$40,588$0$82,962
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
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Project Funds Held in Trust$160,560
Event Center Bridge Loan$20,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Backup withholding compliance
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 governing body review Part VI line 11

“Governing body reviewed Form 990 at its regular meeting.”

Form 990 availability to public Part VI line 18

“Form 990 is available for public inspection at the local GLAD office.”

Governing documents etc available to public Part VI line 19

“Governing documents are available to public at the GLAD office at the Marshall County Community Building”

Filing and Contact Details

Filer

Filer Name
Glacial Lakes Area Development Inc
EIN
87-0787080
Address
PO BOX 231, BRITTON, SD 57430

Signing Officer

Name
Lindsey Kimber
Title
Executive Direc
Phone
6054480005
Signed
2021-10-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lindsey Kimber
Formed
2005
Legal Domicile
Sd
Voting Board Members
8
Independent Board Members
7
Employees
1

Preparer

Firm
Britton Bookkeeping & Tax Serv Inc
Address
PO Box 74, Britton, SD 57430
Preparer
Susan M Wismer CPA
Phone
6054482572
Supplemental Narrative

Additional Explanations

Not undergone required audits or steps for audit part XII line 3B

“GLAD plans to have an audit completed in the near future.”

Raw XML Appendix382 raw XML fields

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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IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0553
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt021734
IRS990ScheduleA/OtherIncome170Grp/TotalAmt021734
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.94820
IRS990ScheduleA/PublicSupportPY170Pct00.91650
IRS990ScheduleA/PublicSupportTotal170Amt0402799
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt073950
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt078698
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt096543
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt069419
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt084189
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0402799
IRS990ScheduleA/TotalSupportAmt0424810
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt0166
IRS990ScheduleD/EquipmentGrp/DepreciationAmt07174
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt07340
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt0485189
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0BUSINESS LOANS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0160560
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt120000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PROJECT FUNDS HELD IN TRUST
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1EVENT CENTER BRIDGE LOAN
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0166
IRS990ScheduleD/TotalBookValueProgramRltdAmt0485189
IRS990ScheduleD/TotalLiabilityAmt0180560
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Governing body reviewed Form 990 at its regular meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Form 990 is available for public inspection at the local GLAD office.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Governing documents are available to public at the GLAD office at the Marshall County Community Building
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GLAD plans to have an audit completed in the near future.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990 availability to public Part VI line 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Not undergone required audits or steps for audit part XII line 3b
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01207642
IRS990/TotalAssetsEOYAmt01159133
IRS990/TotalAssetsGrp/BOYAmt01207642
IRS990/TotalAssetsGrp/EOYAmt01159133
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt072950
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt040588
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt042374
IRS990/TotalFunctionalExpensesGrp/TotalAmt082962
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0657239
IRS990/TotalLiabilitiesEOYAmt0582331
IRS990/TotalLiabilitiesGrp/BOYAmt0657239
IRS990/TotalLiabilitiesGrp/EOYAmt0582331
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0550403
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0576802
IRS990/TotalOtherCompensationAmt04200
IRS990/TotalProgramServiceExpensesAmt042374
IRS990/TotalProgramServiceRevenueAmt036242
IRS990/TotalReportableCompFromOrgAmt062572
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt036370
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0109320
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01207642
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01159133
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/ProgramServicesAmt0204
IRS990/TravelGrp/TotalAmt0204
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 231
IRS990/USAddress/CityNm0BRITTON
IRS990/USAddress/StateAbbreviationCd0SD
IRS990/USAddress/ZIPCd057430
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.GLADSD.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/OOBSecurityVerificationCd000
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LINDSEY KIMBER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIREC
ReturnHeader/BusinessOfficerGrp/PhoneNum06054480005
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-10-25
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0GLACIAL LAKES AREA DEVELOPMENT INC
ReturnHeader/Filer/BusinessNameControlTxt0GLAC
ReturnHeader/Filer/EIN0870787080
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 231
ReturnHeader/Filer/USAddress/CityNm0BRITTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0SD
ReturnHeader/Filer/USAddress/ZIPCd057430
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Britton Bookkeeping & Tax Serv Inc
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO Box 74
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Britton
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0SD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd057430
ReturnHeader/PreparerPersonGrp/PhoneNum06054482572
ReturnHeader/PreparerPersonGrp/PreparationDt02021-10-29
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Susan M Wismer CPA
ReturnHeader/ReturnTs02021-10-29T11:36:06-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0LINDSEY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0KIMBER
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,159,133
Liabilities
$582,331
Net assets
$576,802
Revenue
$109,320
Expenses
$82,962
Net income
$26,358
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.64$1.11$0.52$0.13$0.11$0.02
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.21$0.71$0.51$0.12$0.25$0.13
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.21$0.57$0.64$0.12$0.09$0.03
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.14$0.53$0.61$0.13$0.09$0.04
2020Detailed filing. Detailed filing data is available for this year.$1.16$0.58$0.58$0.11$0.08$0.03
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.21$0.66$0.55$0.11$0.09$0.02
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.54$1.01$0.53$0.13$0.08$0.05
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.54$1.05$0.49$0.10$0.08$0.02
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.31$0.82$0.49$0.11$0.10$0.01
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.09$0.60$0.49$0.11$0.09$0.02
2014Detailed filing. Detailed filing data is available for this year.$0.95$0.48$0.47$0.29$0.09$0.20
2013Detailed filing. Detailed filing data is available for this year.$0.42$0.15$0.27$0.08$0.09$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.38$0.10$0.28$0.10$0.10$0.00
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.28$0.28$0.08$0.08$0.00
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.28$0.28$0.20$0.09$0.11