South Dakota Bankers Association
- Assets
- $4.5m
- Revenue
- $1.6m
- Investments
- $628.8k
- Employees
- 5
- Location
- Pierre, SD
- Founding
- 08/1942
- Data as of
- 12/2022
- 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 12/2022, 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 12/2022, South Dakota Bankers Association generated $1.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $1.2m during the year ending 12/2022. 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
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 | $235,000 |
Kristina Schaefer Past Chair | OfficerTrustee | 1 | $0 |
David D Nelson Chair-Elect | OfficerTrustee | 1 | $0 |
Pete Mehlhaff Director | Trustee | 1 | $0 |
Nathan Franzen Director | Trustee | 1 | $0 |
Keith Knuppe 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $599,806 |
| Investment income | $371,167 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$10,788 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,620,576 |
| 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. | $372,576 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $116,911 |
| Pension plan accruals and contributions | $10,767 |
| Other employee benefits | $19,103 |
| Payroll taxes | $29,541 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $41,565 |
| Fees for services: Accounting | $23,537 |
| 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 | $41,021 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,956 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $64,637 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $22,376 |
| Insurance | $31,923 |
| All other expenses | $93,815 |
| Total functional expenses | $1,160,440 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $880,558 |
| Savings and temporary cash investments | $1,400,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $20,202 |
| 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 | $16,213 |
| Net Land, buildings, and equipment | $527,250 |
| Investments—publicly traded securities | $1,070,448 |
| Investments—other securities | $628,792 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,543,463 |
| Accounts payable and accrued expenses | $20,458 |
| Grants payable | $0 |
| Deferred revenue | $23,794 |
| 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 | $44,252 |
| Net assets without donor restrictions | $4,499,211 |
| 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 | $4,543,463 |