Vermillion Development Company

Organization Overview

Vermillion Development Company is located in Vermillion, SD. The organization was established in 1978. According to its NTEE Classification (A60) the organization is classified as: Performing Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Vermillion Development Company employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vermillion Development Company 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 12/2021, Vermillion Development Company generated $1.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $1.7m during the year ending 12/2021. While expenses have increased by 11.2% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO PROMOTE AND DEVELOP ECONOMIC GROWTH FOR THE CITY OF VERMILLION, SD

Describe the Organization's Program Activity:

Part 3 - Line 4a

WORK TOWARDS THE ORGANIZATIONS COMMUNITY BETTERMENT AND ECONOMIC DEVELOPMENT GOALS OF SUSTAINABLE BUSINESS DEVELOPMENT AND GREATER COMMUNITY AWARENESS THROUGH ITS PROGRAMS AND ECONOMIC DEVELOPMENT INITIATIVES


Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.

Board, Officers & Key Employees

Name (title)Compensation
Prescott John
Treasurer
$0
Jeff Erickson
Vice President
$0
Scott Pohlson
President
$0
Jami Baedke
Past President
$0
Damon Alvey
Director
$0
Joe Hoose
Secretary
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$94,295
Fundraising events$0
Related organizations$0
Government grants $265,091
All other contributions, gifts, grants, and similar amounts not included above$437,144
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$796,530
Total Program Service Revenue$59,522
Investment income $253
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $530,085
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events -$98,475
Net Income from Gaming Activities $0
Net Income from Sales of Inventory -$9,202
Miscellaneous Revenue$0
Total Revenue $1,278,713

Grants Recieved

Over the last fiscal year, we have identified 2 grants that Vermillion Development Company has recieved totaling $45,000.

Awarding OrganizationAmount
Sanford

Sioux Falls, SD

PURPOSE: ECONOMIC DEVELOPMENT

$30,000
University Of South Dakota Foundation

Vermillion, SD

PURPOSE: PROGRAM SUPPORT

$15,000
View Grant Recipient Profile

Create an account to unlock the data you need.

or