Lake Preston Development Corporation
- Assets
- $342.4k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Lake Preston, SD
- Founding
- 10/1977
- Data as of
- 12/2021
- EIN
- 51-0199304
Organization Overview
Lake Preston Development Corporation is located in Lake Preston, SD. The organization was established in 1977. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood 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. Lake Preston Development Corporation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2021, Lake Preston Development Corporation generated $51.2k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 11.3% each year . All expenses for the organization totaled $84.9k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3
OWN AND MAINTAIN PROPERTY FOR CORPORATION TO LEASE FOR HEALTH CARE FACILITY IN OUR COMMUNITY. MAINTAIN LOANS FOR LOCAL BUSINESSES THAT CANNOT UTILIZE COMMERCIAL LENDERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rick Hillestad Member | 1 | $0 | |
Danielle Zeeck Director | 1 | $0 | |
Shane Odegaard Secretary | 2 | $0 | |
Joan Wollschlager Member | 1 | $0 | |
Jake Smith Member | 1 | $0 | |
Missy Olson Treasurer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,331 |
| Total Program Service Revenue | $5,250 |
| Membership dues | $0 |
| Investment income | $2,044 |
| Gain or Loss | $37,579 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $51,204 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $79,821 |
| Occupancy, rent, utilities, and maintenance | $4,609 |
| Printing, publications, postage, and shipping | $246 |
| Other expenses | $0 |
| Total expenses | $84,926 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $211,928 |
| Other assets | $0 |
| Total assets | $342,436 |
| Total liabilities | $0 |
| Net assets or fund balances | $342,436 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lakes And Pines Community Action Council Inc Mora, MN | $3,434,723 | $9,795,071 |
Rocky Mountain Development Council Inc Helena, MT | $19,568,493 | $12,980,509 |
Center For People In Need Inc Lincoln, NE | $4,396,742 | $7,753,507 |
Kootasca Community Action Inc Grand Rapids, MN | $3,733,183 | $8,667,071 |
St Paul Auto Dealers And District 77 Lodge Iamaw Joint Fund Bloomington, MN | $6,441,158 | $6,840,517 |
Community Facility Public Private Partnerships Minnetonka, MN | $139,342,573 | $6,847,373 |
Emerge Community Development Minneapolis, MN | $6,688,888 | $6,982,216 |
Regional Development Authority Davenport, IA | $4,541,432 | $7,109,702 |
Southwestern Minnesota Opportunity Council Inc Worthington, MN | $6,681,573 | $5,602,564 |
Thunder Valley Community Development Corporation Porcupine, SD | $24,786,426 | $14,048,128 |
South Central Iowa Community Action Program Inc Chariton, IA | $1,633,928 | $5,339,343 |
Western South Dakota Community Action Inc Rapid City, SD | $273,358 | $4,989,303 |