Necog Development Corporation
- Assets
- $6.5m
- Revenue
- $514.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Aberdeen, SD
- Founding
- 08/1995
- Data as of
- 12/2023
- EIN
- 46-0434487
Organization Overview
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 12/2023, Necog Development Corporation generated $514.7k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 9.5% each year. All expenses for the organization totaled $132.9k during the year ending 12/2023. While expenses have increased by 2.0% per year over the past 9 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
2023
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 INDUSTRIES AND TO ASSIS BUSINESSES IN CREATING AND RETAINING JOBS FOR THE REGION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Donald Kallenberger Chairperson | OfficerTrustee | 0.3 | $625 |
Craig Oberle Secretary/treas | OfficerTrustee | 0.3 | $625 |
Ted Haeder Director | Trustee | 0.3 | $625 |
Scott Campbell Vice Chair | OfficerTrustee | 0.3 | $525 |
Jason Jung Director | Trustee | 0.3 | $525 |
Todd Garry Director | Trustee | 0.3 | $325 |
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 | $298,088 |
| Investment income | $8,791 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $625 |
| 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 | $514,731 |
| 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. | $3,400 |
| Compensation of current officers, directors, key employees. | $3,400 |
| 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 | $70,253 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,594 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,933 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $13,406 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $132,885 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $795,620 |
| 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 | $5,710,011 |
| 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 | $27,467 |
| Total assets | $6,533,098 |
| Accounts payable and accrued expenses | $10,853 |
| 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 | $1,283,220 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,294,073 |
| Net assets without donor restrictions | $1,850,465 |
| Net assets with donor restrictions | $3,388,560 |
| 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 | $6,533,098 |
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Student Assistance Foundation Of Montana Helena, MT | $27,473,857 | $5,408,752 |
Akiptan Eagle Butte, SD | $26,940,042 | $5,692,103 |
Open Aid Alliance Missoula, MT | $738,800 | $1,259,220 |
Iowa Independent Bankers Des Moines, IA | $1,203,947 | $729,619 |
Nebraska Medical Education Fund Inc Tabor, IA | $851,265 | $151,777 |
Montana Independent Bankers Helena, MT | $726,412 | $127,139 |
Necog Development Corporation Aberdeen, SD | $6,533,098 | $514,731 |