Skip to content
Nonprofiteer
← GLACIAL LAKES AREA DEVELOPMENT

Form 990 for tax year 2023

Filed by GLACIAL LAKES AREA DEVELOPMENT.

Totals

Total revenue
$115,670
Total expenses
$250,656
Contributions and grants received
$75,067
Grants paid
$0
Program service revenue
$40,386
Investment income
$217
Other revenue
$0
Total assets, end of year
$1,213,591
Total liabilities, end of year
$707,408
Net assets or fund balances, end of year
$506,183
Program services expenses (Part IX)
$165,293
Management and general expenses
$85,363
Fundraising expenses
$0
Program service expenses (Part III)
$165,293

Program services were 65.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $45,700

  • 1f · All other contributions, gifts and grants

    $29,367

  • 2a · Program service revenue: BUSINESS LOAN INTEREST

    total $32,316 · related or exempt $32,316

  • 2b · Program service revenue: VENTURE REFUND

    total $828 · related or exempt $828

  • 2c · Program service revenue: PROGRAM SERVICE FEES

    total $7,242 · related or exempt $7,242

  • 3 · Investment income

    total $217 · related or exempt $217

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $52,961 · management and general $52,961

  • 8 · Pension plan contributions

    total $4,725 · management and general $4,725

  • 10 · Payroll taxes

    total $18,058 · management and general $18,058

  • 11c · Fees: accounting

    total $1,553 · management and general $1,553

  • 12 · Advertising and promotion

    total $975 · management and general $975

  • 13 · Office expenses

    total $3,501 · management and general $3,501

  • 14 · Information technology

    total $323 · management and general $323

  • 17 · Travel

    total $1,568 · program services $1,568

  • 19 · Conferences, conventions and meetings

    total $1,796 · management and general $1,796

  • 20 · Interest

    total $9,648 · program services $9,648

  • 21 · Payments to affiliates

    total $1,799 · program services $1,799

  • 23 · Insurance

    total $1,471 · management and general $1,471

  • 24a · Other expenses: CLIENT LOAN EXPENSES

    total $4,696 · program services $4,696

  • 24b · Other expenses: HOUSING ASSESSMENT

    total $1,562 · program services $1,562

  • 24c · Other expenses: CHILD CARE SURVEY

    total $2,400 · program services $2,400

  • 24d · Other expenses: BAD DEBT

    total $143,620 · program services $143,620

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $282,835 · end of year $341,573

  • 2 · Savings and temporary cash investments

    beginning of year $302,303 · end of year $151,898

  • 5 · Loans and receivables from officers and key people

    beginning of year $173,929 · end of year $180,735

  • 10a · Land, buildings and equipment: cost or other basis

    $7,340

  • 10b · Land, buildings and equipment: accumulated depreciation

    $7,340

  • 13 · Investments: program-related

    beginning of year $455,553 · end of year $539,385

  • 23 · Secured mortgages and notes payable

    beginning of year $483,791 · end of year $659,031

  • 25 · Other liabilities

    beginning of year $89,660 · end of year $48,377

  • 31 · Retained earnings, endowment or other funds

    beginning of year $641,169 · end of year $506,183

Mission and programs · 2023

Mission

TO FACILITATE REGIONAL ECONOMIC DEVELOPMENT IN NORTHEASTERN SOUTH DAKOTA.

  • ATTENDED, STAFFED, AND COORDINATED VARIOUS COMMUNITY MEETINGS REGARDING LOCAL ECONOMIC DEVELOPMENT PROJECTS. COLLECTED AND DISBURSED DONATED FUNDS FOR COMMUNITY FACILITIES TO BE TRANSFERRED TO LOCAL NONPROFIT COUNTRY CLUB, SCHOOL ACTIVITIES, AND CITY EVENT CENTER UPON COMPLETION. MADE BUSINESS LOANS TO SMALL LOCAL BUSINESSES AND COLLECTED INTEREST AND PRINCIPAL PAYMENTS ON SAME.ADMINISTERED WORKFORCE DEVELOPMENT GRANTS

    Expenses $165,293

As filed on the 2023 return.

Listed in Part VII

  • Peggy Pearson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Matt Schuller

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kristin Hofland

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kenneth Strong

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Alicia Tonsfeldt

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Jennifer Keintz

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Chad Hardy

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Lindsey Kimber

    EXECUTIVE DIRECTOR

    Total calculated
    $0
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202423199349303507

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.