Black Hills Area Community Foundation
- Assets
- $46.8m
- Revenue
- $12.5m
- Investments
- $0.0
- Employees
- 6
- Location
- Rapid City, SD
- Founding
- 03/1989
- Data as of
- 12/2021
- EIN
- 36-3608635
Organization Overview
Black Hills Area Community Foundation is located in Rapid City, SD. The organization was established in 1989. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Black Hills Area Community Foundation employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Black Hills Area Community Foundation 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 12/2021, Black Hills Area Community Foundation generated $12.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 17.5% each year . All expenses for the organization totaled $3.5m during the year ending 12/2021. While expenses have increased by 7.2% per year over the past 7 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.
Since 2015, Black Hills Area Community Foundation has awarded 394 individual grants totaling $12,864,918. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATIONAL, SCIENTIFIC, LITERARY AND CHARITABLE SUPPORT IN BROAD AREAS INCLUDING DEVELOPMENT OF BOTH QUALITY AND QUANTITY OF ECONOMIC GROWTH IN THE RAPID CITY AND BLACK HILLS AREA
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION PROVIDES EDUCATIONAL SCHOLARSHIPS AND DONATIONS TO VARIOUS COMMUNITY ORGANIZATIONS IN ORDER TO IMPROVE THE QUALITY OF LIFE OF THE PEOPLE IN THE BLACK HILLS REGION.
THE FOUNDATION POOLS INVESTMENTS FOR VARIOUS COMMUNITY CHARITIES, IN ORDER TO INVEST THEIR FUNDS AT FAVORABLE INVESTMENT RATES WITH RELIABLE INVESTMENT VEHICLES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elizabeth Hamburg Executive Di | Officer | 45 | $116,367 |
Steve Helmers Vice Chair | OfficerTrustee | 1 | $0 |
Marnie Herrmann Treasurer | OfficerTrustee | 1 | $0 |
Margaret Prahl Chair | OfficerTrustee | 1 | $0 |
Steve Flanery Secretary | OfficerTrustee | 1 | $0 |
Dr Roger Wilson Past Chair | OfficerTrustee | 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 | $12,588,395 |
| Noncash contributions included in lines 1a–1f | $1,136,520 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,588,395 |
| Total Program Service Revenue | $0 |
| Investment income | $513,920 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$618,794 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,495,187 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,578,535 |
| Grants and other assistance to domestic individuals. | $58,160 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $122,185 |
| Compensation of current officers, directors, key employees. | $23,273 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $224,569 |
| Pension plan accruals and contributions | $9,814 |
| Other employee benefits | $0 |
| Payroll taxes | $26,774 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $53,884 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $74,539 |
| Fees for services: Other | $128,198 |
| Advertising and promotion | $5,917 |
| Office expenses | $20,723 |
| Information technology | $33,847 |
| Royalties | $0 |
| Occupancy | $2,642 |
| Travel | $15,223 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $18,956 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $19,499 |
| Insurance | $22,943 |
| All other expenses | $97,819 |
| Total functional expenses | $3,514,227 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,493,322 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $809,347 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,869 |
| Net Land, buildings, and equipment | $756 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $41,299,467 |
| Intangible assets | $0 |
| Other assets | $147,240 |
| Total assets | $46,752,001 |
| Accounts payable and accrued expenses | $20,228 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $13,290,567 |
| 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 | $47,915 |
| Total liabilities | $13,358,710 |
| Net assets without donor restrictions | $32,727,084 |
| Net assets with donor restrictions | $666,207 |
| 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 | $46,752,001 |
Grants Awarded
Over the last fiscal year, Black Hills Area Community Foundation has awarded $2,360,213 in support to 61 organizations.
| Grant Recipient | Amount |
|---|---|
Rapid City, SD PURPOSE: COMMUNITY WELFARE | $504,191 |
RAPID CITY AREA SCHOOLS PURPOSE: EDUCATION | $465,967 |
CALVARY CHRISTIAN SCHOOL PURPOSE: COMMUNITY WELFARE | $200,000 |
Hill City, SD PURPOSE: COMMUNITY WELFARE | $141,000 |
Rapid City, SD PURPOSE: EDUCATION | $95,648 |
Sioux Falls, SD PURPOSE: COMMUNITY WELFARE | $90,716 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Black Hills Area Community Foundation has recieved totaling $15,100.
| Awarding Organization | Amount |
|---|---|
First Interstate Bancsystem Foundation Inc Billings, MT PURPOSE: GENERAL OPERATING SUPPORT | $15,100 |
Endowment Analysis
| Beg. Balance | $11,436,752 |
| Earnings | $1,677,362 |
| Net Contributions | $1,035,015 |
| Other Expense | $500,160 |
| Ending Balance | $13,648,969 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Communitygiving St Cloud, MN | $193,103,222 | $46,523,540 |
Quad Cities Community Foundation Bettendorf, IA | $165,771,747 | $15,098,956 |
Greater Cedar Rapids Community Foundation Cedar Rapids, IA | $223,368,352 | $26,493,454 |
3m Open Fund Blaine, MN | $2,792,523 | $13,492,516 |
Fargo-Moorhead Area Foundation Corporation Fargo, ND | $123,601,833 | $30,025,035 |
Wyoming Community Foundation Laramie, WY | $214,898,852 | $21,534,093 |
Whitefish Community Foundation Inc Whitefish, MT | $55,891,446 | $19,214,103 |
Community Foundation Of Greater Dubuque Dubuque, IA | $145,486,240 | $37,640,315 |
Yellowstone Club Community Foundaction Bozeman, MT | $7,118,258 | $8,242,753 |
Community Foundation Of Northeast Iowa Cedar Falls, IA | $163,015,524 | $24,241,546 |
West Central Initiative Fergus Falls, MN | $80,928,029 | $10,157,757 |
Montana Community Foundation Inc Helena, MT | $124,041,175 | $24,837,343 |