Dakota Lakes Research Farm
- Assets
- $1.7m
- Revenue
- $495.3k
- Investments
- $0.0
- Employees
- 3
- Location
- Pierre, SD
- Founding
- 06/1982
- Data as of
- 12/2022
- EIN
- 46-0359574
Organization Overview
Dakota Lakes Research Farm is located in Pierre, SD. The organization was established in 1982. According to its NTEE Classification (U99) the organization is classified as: Science & Technology N.E.C., under the broad grouping of Science & Technology and related organizations. As of 12/2022, Dakota Lakes Research Farm employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dakota Lakes Research Farm 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 12/2022, Dakota Lakes Research Farm generated $495.3k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.5% each year. All expenses for the organization totaled $510.3k during the year ending 12/2022. While expenses have increased by 0.1% 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 RESEARCH ENTERPRISE AT THE FARM IS OPERATED BY SOUTH DAKOTA STATE UNIVERSITY. THE NOT-FOR-PROFIT DAKOTA LAKES RESEARCH FARM CORPORATION MANAGES THE PRODUCTION ENTERPRISE AND OWNS THE LAND, THE FIXED FACILITIES, AND MUCH OF THE FIELD EQUIPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE DAKOTA LAKES RESEARCH FARM IS A COOPERATIVE EFFORT BETWEEN SOUTH DAKOTA STATE UNIVERSITY AND THE DAKOTA LAKES RESEARCH FARM CORPORATION, A NOT-FOR-PROFIT CORPORATION ESTABLISHED BY AREA FARMERS. THIS GROUP OWNS THE LAND, BUILDINGS, AND OTHER FIXED ASSETS. THEY WORK WITH THE MANAGER IN PRIORITIZING RESEARCH PROJECTS AND PLANNING CAPITAL IMPROVEMENTS. THIS RESEARCH CENTER IS UTILIZING A ENERGY EFFICIENT BUILDING. THE OTHER MAJOR ACCOMPLISHMENT IS THE OPERATION OF THREE PROJECTS THAT ARE DESIGNED TO EXPLORE THE FEASIBILITY OF FUTURE FARMING IN THREE DIFFERENT AREAS. THE FIRST IS A ROADSIDE PROJECT TO BRING SUSTAINABLE HABITAT BACK TO PUBLIC ROADSIDES AND IMPROVE SOIL/HABITAT MANAGEMENT. THE SECOND IS A SEED PROJECT THAT WILL BE TESTING THE SUCESS OF COATING SEEDS TO MAKE PLANTING AND APPLICATION MORE COST EFFECTIVE. THE THIRD PROJECT IS A GRAZING PROJECT. ITS FOCUS IS TO GET CATTLE OUT OF FEED LOTS AND IMPROVE THERE OVERALL HEALTH AND WELFARE. THE STUDY WILL USE MOVEABLE PENS IN PASTURE WITH THE HOPE OF REDUCING COSTS AND IMPROVING ANIMAL HEALTH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brett Huber Director | Trustee | 1 | $0 |
Charles Edinger Vice President | Trustee | 1 | $0 |
Scot Eisenbraun Director | Trustee | 1 | $0 |
Brad Finley Director | Trustee | 1 | $0 |
Marv Schumacher Treasurer | Trustee | 1 | $0 |
Brent Ireland 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 | $5,700 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,700 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $486,860 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $495,308 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $14,543 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,670 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,320 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $859 |
| Information technology | $511 |
| Royalties | $0 |
| Occupancy | $2,570 |
| Travel | $2,800 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,835 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $105,666 |
| Insurance | $23,273 |
| All other expenses | $63,823 |
| Total functional expenses | $510,274 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $619,629 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,123,100 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,091 |
| Total assets | $1,743,820 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $1,743,820 |
| 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 | $1,743,820 |