Mitchell Area Development Corporation

Organization Overview

Mitchell Area Development Corporation is located in Mitchell, SD. The organization was established in 1988. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mitchell Area Development Corporation 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 09/2021, Mitchell Area Development Corporation generated $855.5k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 14.0% each year . All expenses for the organization totaled $524.2k during the year ending 09/2021. While expenses have increased by 1.0% per year over the past 6 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

PROMOTE ECONOMIC DEVELOPMENT IN THE MITCHELL, SD AREA

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROGRAM SERVICES INCLUDE ACTIVITIES TO PROMOTE ECONOMIC DEVELOPMENT IN THE MITCHELL AREA. THE ORGANIZATION PROVIDES FUNDING TO RECRUIT VARIOUS BUSINESSES TO THE MITCHELL AREA. WITH THE GOAL OF CREATING NEW JOBS IMPROVING THE LOCAL ECONOMIC BASE. LAND HAS BEEN ACQIRED FOR FUTURE PROSPECTS BUILDINGS HAVE BEEN ACQUIRED TO LEASE TO COMMERCIAL TENANTS.


ECONOMIC DEVELOPMENT FOR ASSISTANCE IN CREATING JOBS IN THE MITCHELL TRADE AREA.


WORKFORCE DEVELOPMENT PROVIDES ASSISTANCE TO DEVELOP THE MITCHELL AREA WORKFORCE BY FACILITATING MANUFACTURING BUSINESS EXPANSIONS IN THE REGION.


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Board, Officers & Key Employees

Name (title)Compensation
Ken Schlimgen
Treasurer
$0
Trevor Dierks
Vice President
$0
Tim Bottum
President
$0
Jason Stoebner
Past President
$0
Geri Beck
Exec Director
$0
Teresa Sternhagen
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$39,955
Fundraising events$0
Related organizations$0
Government grants $252,326
All other contributions, gifts, grants, and similar amounts not included above$428,514
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$720,795
Total Program Service Revenue$0
Investment income $70,162
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $64,515
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 $0
Miscellaneous Revenue$0
Total Revenue $855,472

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Mitchell Area Development Corporation has recieved totaling $5,500.

Awarding OrganizationAmount
Avera Health

Sioux Falls, SD

PURPOSE: Sponsorship

$5,500
View Grant Recipient Profile

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