Regional Technical Education Center Inc
- Assets
- $253.0k
- Revenue
- $411.6k
- Investments
- $0.0
- Employees
- 7
- Location
- Yankton, SD
- Founding
- 06/2005
- Data as of
- 12/2023
- EIN
- 34-2014700
Organization Overview
Regional Technical Education Center Inc is located in Yankton, SD. The organization was established in 2005. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 12/2023, Regional Technical Education Center Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Regional Technical Education Center Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Regional Technical Education Center Inc generated $411.6k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (1.6%) each year. All expenses for the organization totaled $469.0k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HIGH QUALITY, AFFORDABLE TECHNICAL EDUCATION AND TRAINING OPPORTUNITIES WHICH WILL ENHANCE THE ABILITIES OF INDVIDUALS TO OBTAIN AND RETAIN EMPLOYMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION DESIGNS, MARKETS, & PROVIDES TECHNICAL TRAINING COURSES TO SOUTHEASTERN SOUTH DAKOTA AND NORTHEASTERN NEBRASKA TO MEET THE NEEDS OF MANUFACTURERS, THE HEALTHCARE INDUSTRY, AND OTHER ORGANIZATIONS AND INDUSTRIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Monte Gulick General Mana | Officer | 40 | $84,800 |
Kevin Bender Chair | OfficerTrustee | 1 | $0 |
Mary Anne Boyd Director | Trustee | 1 | $0 |
Todd Dvoracek Secretary | OfficerTrustee | 1 | $0 |
Kathy Greeneway Director | Trustee | 1 | $0 |
Lacey Johnson Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $22,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $22,500 |
| Total Program Service Revenue | $386,199 |
| Investment income | $2,873 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $411,572 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $90,656 |
| Compensation of current officers, directors, key employees. | $63,459 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $138,286 |
| Pension plan accruals and contributions | $4,018 |
| Other employee benefits | $5,560 |
| Payroll taxes | $17,810 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,719 |
| Office expenses | $21,393 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $20,122 |
| Travel | $1,763 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $34,686 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $468,961 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $158,457 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $637 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,694 |
| Net Land, buildings, and equipment | $89,229 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $253,017 |
| Accounts payable and accrued expenses | $24,429 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $41,829 |
| Total liabilities | $66,258 |
| Net assets without donor restrictions | $186,759 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $253,017 |