Webster Area Development Corporation Inc
- Assets
- $1.7m
- Revenue
- $80.3k
- Investments
- $0.0
- Employees
- 1
- Location
- Webster, SD
- Founding
- 12/1995
- Data as of
- 12/2022
- EIN
- 46-0437892
Organization Overview
Webster Area Development Corporation Inc is located in Webster, SD. The organization was established in 1995. According to its NTEE Classification (S30) the organization is classified as: 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. Webster Area Development Corporation Inc 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, Webster Area Development Corporation Inc generated $80.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (11.3%) each year. All expenses for the organization totaled $96.4k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (4.2%) per year over the past 8 years. 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
PROMOTE AND DEVELOP ECONOMIC ACTIVITIES IN DAY COUNTY
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTE AND DEVELOP ECONOMIC ACTIVITIES IN DAY COUNTY
PROMOTE AND DEVELOP ECONOMIC ACTIVITIES IN DAY COUNTY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dave Hahler Director | Trustee | $0 | |
Kelly Hanson President | OfficerTrustee | $0 | |
Jessi Hegg Director | Trustee | $0 | |
Tim Mcintyre Director | Trustee | $0 | |
Kathy Meland Director | Trustee | $0 | |
Amy Miller Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $42,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,950 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $44,950 |
| Total Program Service Revenue | $34,409 |
| Investment income | $958 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $80,317 |
| 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 | $24,373 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,406 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,965 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $31,083 |
| Advertising and promotion | $520 |
| Office expenses | $5,045 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $20,617 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $799 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,529 |
| Insurance | $1,093 |
| All other expenses | $0 |
| Total functional expenses | $96,430 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,480 |
| Savings and temporary cash investments | $687,695 |
| 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 | $968,922 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,663,097 |
| 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 | $446 |
| Total liabilities | $446 |
| Net assets without donor restrictions | $1,662,651 |
| 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 | $1,663,097 |