Spencer Development Corporation
- Assets
- $244.8k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Spencer, SD
- Founding
- 11/1971
- Data as of
- 12/2023
- EIN
- 23-7139531
Organization Overview
Spencer Development Corporation is located in Spencer, SD. The organization was established in 1971. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Spencer Development Corporation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2023, Spencer Development Corporation generated $68.4k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $67.5k during the year ending 12/2023. While expenses have increased by 1.0% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
PROVIDED LOW INCOME RENTAL HOUSING IN THE SPENCER COMMUNITY FOR THE ELDERLY AND OTHER LOW INCOME CITIZENS. THE PROJECT SERVED APPROXIMATLEY 18 CITIZENS WITH AFFORDABLE HOUSING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Darrell Kirby President | 0 | $0 | |
Sharon Reif Vice-Preside | 0 | $0 | |
Donna Ruden Business Man | 2 | $9,591 | |
Charles Feiner Director | 0 | $0 | |
Dennis Bennett Director | 0 | $0 | |
John Ruden Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $1,741 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $66,624 |
| Total Revenue | $68,365 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $9,591 |
| Professional fees and other payments to independent contractors | $904 |
| Occupancy, rent, utilities, and maintenance | $13,393 |
| Printing, publications, postage, and shipping | $300 |
| Other expenses | $43,306 |
| Total expenses | $67,494 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $112,289 |
| Other assets | $0 |
| Total assets | $244,846 |
| Total liabilities | $5,941 |
| Net assets or fund balances | $238,905 |