Necog Development Corporation is located in Aberdeen, SD. The organization was established in 1995. According to its NTEE Classification (W60) the organization is classified as: Financial Institutions, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Necog 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 12/2021, Necog Development Corporation generated $1.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 23.8% each year . All expenses for the organization totaled $380.5k during the year ending 12/2021. While expenses have increased by 19.2% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO LOAN FEDERAL AND STATE FUNDS TO LOCAL BUSINESSES AND INDUSTRY AND TO ASSIST BUSINESSES IN CREATING AND RETAINING JOBS FOR THE REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO LOAN FEDERAL AND STATE FUNDS TO LOCAL BUSINESSES AND INDUSTRY AND TO ASSIST BUSINESSES IN CREATING AND RETAINING JOBS FOR THE REGION.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Donald Kallenberger Chairperson | OfficerTrustee | 0.3 | $550 |
Doug Deboer At-Large Director | Trustee | 0.3 | $550 |
G Todd Garry At-Large Director | Trustee | 0.3 | $525 |
R Craig Oberle Secretary/treasurer | OfficerTrustee | 0.3 | $450 |
Jason Jung At-Large Director | Trustee | 0.3 | $300 |
Scott Campbell Vice Chairperson | OfficerTrustee | 0.3 | $250 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $728,928 |
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 | $728,928 |
Total Program Service Revenue | $237,873 |
Investment income | $4,189 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $39,165 |
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 | $1,010,155 |
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. | $2,625 |
Compensation of current officers, directors, key employees. | $2,625 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $77,759 |
Fees for services: Legal | $6,038 |
Fees for services: Accounting | $15,920 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $552 |
Advertising and promotion | $0 |
Office expenses | $12 |
Information technology | $1,097 |
Royalties | $0 |
Occupancy | $0 |
Travel | $1,945 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $16,315 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $0 |
All other expenses | $369 |
Total functional expenses | $380,494 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $1,528,810 |
Pledges and grants receivable | $16,807 |
Accounts receivable, net | $0 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $4,628,311 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $0 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $20,360 |
Total assets | $6,194,288 |
Accounts payable and accrued expenses | $24,420 |
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 | $1,424,127 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $1,448,547 |
Net assets without donor restrictions | $1,397,564 |
Net assets with donor restrictions | $3,348,177 |
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 | $6,194,288 |
Over the last fiscal year, we have identified 1 grants that Necog Development Corporation has recieved totaling $7,500.
Awarding Organization | Amount |
---|---|
South Dakota Community Foundation Pierre, SD PURPOSE: Community welfare | $7,500 |
Organization Name | Assets | Revenue |
---|---|---|
Park Side Financial Credit Union Whitefish, MT | $381,456,683 | $16,119,399 |
Student Assistance Foundation Of Montana Helena, MT | $27,473,857 | $5,408,752 |
Open Aid Alliance Missoula, MT | $945,479 | $1,006,868 |
Iowa Independent Bankers Des Moines, IA | $1,000,484 | $761,605 |
Akiptan Eagle Butte, SD | $12,395,517 | $6,864,410 |
Necog Development Corporation Aberdeen, SD | $6,194,288 | $1,010,155 |
Montana Independent Bankers Helena, MT | $717,751 | $107,352 |
Nebraska Medical Education Fund Inc Tabor, IA | $1,016,057 | $61,356 |