Grant County Development Corporation
- Assets
- $1.1m
- Revenue
- $429.5k
- Investments
- $0.0
- Employees
- 1
- Location
- Milbank, SD
- Founding
- 09/1986
- Data as of
- 12/2022
- EIN
- 36-3452396
Organization Overview
Grant County Development Corporation is located in Milbank, SD. The organization was established in 1986. 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. Grant County 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 12/2022, Grant County Development Corporation generated $429.5k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 18.3% each year . All expenses for the organization totaled $112.3k during the year ending 12/2022. While expenses have increased by 1.8% per year over the past 8 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE GOAL OF THE ORGANIZATION IS TO PROMOTE, ENCOURAGE AND ADVANCE THE DEVELOPMENT OF PRIVATE ENTERPRISE, COMMUNITY DEVELOPMENT, AREA TOURISM, INDUSTRY & BUSINESS IN GRANT COUNTY, SOUTH DAKOTA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ECONOMIC DEVELOPMENT PROGRAM IS DEDICATED TO THE DEVELOPMENT OF PRIVATE ENTERPRISE, LOCAL EMPLOYMENT OPPORTUNITIES, AREA TOURISM AND COMMUNITY GROWTH THROUGH THE EXPANSION OF BUSINESS & INDUSTRY IN GRANT COUNTY, SOUTH DAKOTA.
THE INTERMEDIARY RELENDING PROGRAM PROVIDES LOW INTEREST LOANS TO LOCAL INTERMEDIARIES THAT RE-LEND TO BUSINESSES AND FOR COMMUNITY DEVELOPMENT PROJECTS IN RURAL COMMUNITITES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Krista Atyeo-Gortmaker Executive Di | Officer | 40 | $64,594 |
Justin Downes Director | Trustee | 1 | $0 |
Jim Gesswein Director | Trustee | 1 | $0 |
Dave Hepper Treasurer | OfficerTrustee | 1 | $0 |
Dave Hicks Past-Preside | OfficerTrustee | 1 | $0 |
Troy Kastrup Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $70,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $70,000 |
| Total Program Service Revenue | $8,773 |
| Investment income | $680 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $350,052 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $429,505 |
| 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. | $61,593 |
| Compensation of current officers, directors, key employees. | $16,475 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,001 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,106 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,881 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,780 |
| Advertising and promotion | $5,707 |
| Office expenses | $1,520 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,943 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,284 |
| Interest | $1,201 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $112,288 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,122 |
| Savings and temporary cash investments | $511,281 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $69 |
| Loans from Officers, Directors, or Controlling Persons | $4,793 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $446,126 |
| Inventories for sale or use | $89,852 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,057,243 |
| Accounts payable and accrued expenses | $1,308 |
| 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 | $181,862 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $183,170 |
| Net assets without donor restrictions | $609,398 |
| Net assets with donor restrictions | $264,675 |
| 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 | $1,057,243 |
Grants Awarded
Over the last fiscal year, Grant County Development Corporation has awarded $265,848 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ROSEWOOD APTS LLC PURPOSE: PROVIDE HOUSING IN MILBANK, SOUTH DAKOTA | $222,848 |
MILBANK CHAMBER OF COMMERCE PURPOSE: ASSIST BUSINESSES IN MILBANK, SOUTH DAKOTA | $43,000 |