South Dakota Trade Association
- Assets
- $465.1k
- Revenue
- $812.8k
- Investments
- $0.0
- Employees
- 4
- Location
- Sioux Falls, SD
- Founding
- Data as of
- 09/2023
- EIN
- 92-0799016
Organization Overview
South Dakota Trade Association is located in Sioux Falls, SD. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2023, South Dakota Trade Association employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. South Dakota Trade Association is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
SOUTH DAKOTA TRADE NAVIGATES INTERNATIONAL TRADE FOR SOUTH DAKOTA. THE ASSOCIATION IS A PUBLIC-PRIVATE PARTNERSHIP CONDUCTINGEXPORT EDUCATION, ADMINISTRATION OF THE SD STEP GRANT PROGRAM AND PROVIDES FREE EXPORT CONSULTING SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STEP PROGRAM: THE ASSOCIATION ADMINISTERS THE US SMALL BUSINESS ADMINISTRATION STATE TRADE EXPANSION PROGRAM AND MAKES STEP GRANTS TO SOUTH SD COMPANIES LOOKING TO EXPAND THEIR EXPORT BUSINESS.
TRADE MISSIONS: SD TRADE COORDINATES TRADE MISSIONS AND REVERSE TRADE MISSIONS ON BEHALF OF THE STATE TO DEVELOP IMPORTANT RELATIONSHIPS WITH FOREIGN BUYERS AND THOSE LOOKING TO DO BUSINESS IN SOUTH DAKOTA. ONE TRADE MISSION WAS HELD DURING THE FISCAL YEAR TO MEXICO.
EDUCATION: THE ASSOCIATION PROVIDES FREE CONSULTING SERVICES, TRADE SEMINARS AND EDUCATION OPPORTUNITIES FOR SOUTH DAKOTA COMPANIES INTERESTED IN EXPANDING THEIR INTERNATIONAL TRADE. AN ESTIMATED 200 COMPANIES WERE HELPED BY THESE PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Luke J Lindberg President And CEO | OfficerTrustee | 40 | $120,000 |
Edward Newburn Senior Advisor And Chief Of S | Officer | 40 | $113,000 |
John Willard Board Member | Trustee | 1 | $0 |
Dennis Harstad Board Member | Trustee | 1 | $0 |
Gary Cammack Board Member | Trustee | 1 | $0 |
Sheila Gestring Ex-Officio Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $188,750 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $539,798 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,371 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $733,919 |
| Total Program Service Revenue | $12,110 |
| Investment income | $302 |
| 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 | $812,839 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $35,099 |
| Grants and other assistance to domestic individuals. | $1,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $176,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $70,857 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $19,617 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $740 |
| Fees for services: Accounting | $5,727 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $15,601 |
| Advertising and promotion | $7,610 |
| Office expenses | $3,367 |
| Information technology | $1,437 |
| Royalties | $0 |
| Occupancy | $4,157 |
| Travel | $22,477 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $16,118 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,077 |
| All other expenses | $2,552 |
| Total functional expenses | $407,132 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $106,262 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $357,842 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $968 |
| Total assets | $465,072 |
| Accounts payable and accrued expenses | $34,254 |
| 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 | $25,111 |
| Total liabilities | $59,365 |
| Net assets without donor restrictions | $405,707 |
| 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 | $465,072 |
Grants Awarded
Over the last fiscal year, South Dakota Trade Association has awarded $29,106 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
CLARITY COAT LLC | | | $6,122 |
PRAIRIE AQUATECHDBA HOUDEK MFG | | | $5,225 |
CAW INDPLANT CATALYST | | | $10,340 |
SCHUMACHER ENTERPRISES | | | $7,419 |