South Dakota Bankers Association
- Assets
- $4.3m
- Revenue
- $1.6m
- Investments
- $490.3k
- Employees
- 5
- Location
- Pierre, SD
- Founding
- 08/1942
- Data as of
- 12/2021
- EIN
- 46-0191650
Organization Overview
South Dakota Bankers Association is located in Pierre, SD. The organization was established in 1942. According to its NTEE Classification (W03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, South Dakota Bankers Association employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. South Dakota Bankers Association is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, South Dakota Bankers Association generated $1.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $1.2m during the year ending 12/2021. While expenses have increased by 0.1% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE WELFARE AND USEFULNESS OF BANKS AND FINANCIAL INSTITUIONS
Describe the Organization's Program Activity:
Part 3 - Line 4a
COORDINATE CONFERENCE, CONVENTIONS, TRAINING AND PROVIDE A MONTHLY NEWSLETTER TO KEEP MEMBERS INFORMED OF CURRENT RELEVANT TOPICS AND ENCOURAGE CONTINUING EDUCATION AMONG MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karlton Adam President | Officer | 40 | $198,000 |
Halley Lee Adm. V-Pres | Officer | 40 | $99,376 |
Steve Bumann Past Chairma | OfficerTrustee | 1 | $0 |
David Bangasser Chair-Elect | OfficerTrustee | 1 | $0 |
David D Nelson Vice Chair | OfficerTrustee | 1 | $0 |
Kristina Schaefer 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $602,782 |
| Investment income | $190,173 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $42,048 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,608,814 |
| 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. | $297,376 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $100,731 |
| Pension plan accruals and contributions | $21,950 |
| Other employee benefits | $34,359 |
| Payroll taxes | $26,811 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $39,405 |
| Fees for services: Accounting | $13,322 |
| Fees for services: Lobbying | $18,678 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $37,940 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,586 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $234,588 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $29,511 |
| Insurance | $22,927 |
| All other expenses | $109,173 |
| Total functional expenses | $1,216,823 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $521,905 |
| Savings and temporary cash investments | $1,400,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $37,809 |
| 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 | $22,397 |
| Net Land, buildings, and equipment | $549,626 |
| Investments—publicly traded securities | $1,314,463 |
| Investments—other securities | $490,302 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,336,502 |
| Accounts payable and accrued expenses | $14,521 |
| Grants payable | $0 |
| Deferred revenue | $56,603 |
| 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 | $0 |
| Total liabilities | $71,124 |
| Net assets without donor restrictions | $4,265,378 |
| 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 | $4,336,502 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Montana Association Of Counties Helena, MT | $2,827,147 | $4,612,611 |
Nebraska Bankers Association Inc Lincoln, NE | $5,275,821 | $4,826,701 |
Minnesota Bankers Association Eden Prairie, MN | $8,043,309 | $3,421,584 |
Minnesota Rural Water Association Elbow Lake, MN | $3,077,826 | $3,261,922 |
Minnesota Telephone Association Inc Stpaul, MN | $1,279,282 | $1,707,745 |
Nebraska Association Of County Officials Lincoln, NE | $12,458,539 | $2,857,892 |
North Dakota Bankers Association Bismarck, ND | $3,870,374 | $1,718,847 |
South Dakota Bankers Association Pierre, SD | $4,336,502 | $1,608,814 |
Western Telecommunications Alliance Helena, MT | $1,398,398 | $1,265,973 |
Brotherhood Of Railroad Signalmen Omaha, NE | $1,016,898 | $1,119,271 |
National Electrical Contractors Assn Twin Ports Arrowhead Duluth, MN | $1,231,226 | $552,546 |
Montana Telecommunications Association Helena, MT | $284,810 | $461,019 |