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Nonprofiteer
← GROW SOUTH DAKOTA

Form 990 for tax year 2024

Filed by GROW SOUTH DAKOTA.

Totals

Total revenue
$3,905,044
Total expenses
$3,048,340
Contributions and grants received
$1,986,023
Grants paid
$738,887
Program service revenue
$1,806,884
Investment income
$112,137
Other revenue
$0
Total assets, end of year
$74,568,666
Total liabilities, end of year
$74,571,255
Net assets or fund balances, end of year
-$2,589
Program services expenses (Part IX)
$2,874,234
Management and general expenses
$174,106
Fundraising expenses
$0
Program service expenses (Part III)
$2,874,234

Program services were 94.3% 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)

    $1,179,978

  • 1f · All other contributions, gifts and grants

    $806,045

  • 2a · Program service revenue: INTEREST INCOME - LOANS

    total $893,087 · related or exempt $893,087

  • 2b · Program service revenue: LEASE INTEREST INCOME

    total $549,811 · related or exempt $549,811

  • 2c · Program service revenue: APARTMENT REVENUE

    total $275,563 · related or exempt $275,563

  • 2d · Program service revenue: LEASE FEE INCOME

    total $38,017 · related or exempt $38,017

  • 2e · Program service revenue: ORIGINATION FEES

    total $35,700 · related or exempt $35,700

  • 2f · All other program service revenue

    total $14,706 · related or exempt $14,706

  • 3 · Investment income

    total $96,947 · excluded $96,947

  • 7a · Gross sales of assets other than inventory

    other assets $24,190

  • 7b · Less cost or other basis and sales expenses

    other assets $9,000

  • 7c · Gain or loss

    other assets $15,190

  • 7d · Net gain or loss

    total $15,190 · related or exempt $15,190

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $48,313 · program services $48,313

  • 2 · Grants to domestic individuals

    total $690,574 · program services $690,574

  • 7 · Other salaries and wages

    total $355,377 · program services $239,450 · management and general $115,927

  • 8 · Pension plan contributions

    total $12,703 · program services $8,558 · management and general $4,145

  • 9 · Other employee benefits

    total $25,040 · program services $16,872 · management and general $8,168

  • 10 · Payroll taxes

    total $29,438 · program services $19,836 · management and general $9,602

  • 11a · Fees: management

    total $35,908 · program services $35,908

  • 11b · Fees: legal

    total $3,884 · program services $3,884

  • 11c · Fees: accounting

    total $43,837 · program services $37,130 · management and general $6,707

  • 11g · Fees: other

    total $120,735 · program services $120,735

  • 12 · Advertising and promotion

    total $9,001 · program services $9,001

  • 13 · Office expenses

    total $4,897 · program services $3,900 · management and general $997

  • 16 · Occupancy

    total $181,316 · program services $178,170 · management and general $3,146

  • 17 · Travel

    total $30,049 · program services $26,581 · management and general $3,468

  • 19 · Conferences, conventions and meetings

    total $241 · management and general $241

  • 20 · Interest

    total $1,053,073 · program services $1,053,073

  • 22 · Depreciation, depletion and amortization

    total $166,563 · program services $166,563

  • 23 · Insurance

    total $38,675 · program services $16,970 · management and general $21,705

  • 24a · Other expenses: BAD DEBT EXPENSE

    total $198,716 · program services $198,716

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $6,870,181 · end of year $7,684,717

  • 3 · Pledges and grants receivable

    beginning of year $867,758 · end of year $616,801

  • 4 · Accounts receivable

    beginning of year $11,753 · end of year $4,400

  • 7 · Other notes and loans receivable

    beginning of year $23,850,731 · end of year $24,369,091

  • 9 · Prepaid expenses and deferred charges

    beginning of year $8,485 · end of year $10,293

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

    $4,125,786

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

    $1,935,315

  • 10c · Land, buildings and equipment, net

    beginning of year $2,235,325 · end of year $2,190,471

  • 11 · Investments: publicly traded securities

    beginning of year $185,783 · end of year $209,908

  • 15 · Other assets

    beginning of year $47,593,650 · end of year $39,482,985

  • 17 · Accounts payable and accrued expenses

    beginning of year $813,353 · end of year $746,124

  • 19 · Deferred revenue

    beginning of year $684,769 · end of year $775,353

  • 23 · Secured mortgages and notes payable

    beginning of year $63,976,484 · end of year $65,060,015

  • 24 · Unsecured notes and loans payable

    beginning of year $489,263

  • 25 · Other liabilities

    beginning of year $7,990,136 · end of year $7,989,763

  • 27 · Net assets without donor restrictions

    beginning of year -$5,510,350 · end of year -$13,806,421

  • 28 · Net assets with donor restrictions

    beginning of year $13,180,011 · end of year $13,803,832

Mission and programs · 2024

Mission

GROW SOUTH DAKOTA IS A NONPROFIT CORPORATION WHOSE PRIMARY OBJECTIVE IS TO PROMOTE AND FOSTER ECONOMIC GROWTH, HOUSING DEVELOPMENT, AND EDUCATIONAL OPPORTUNITIES IN DISTRESSED COMMUNITIES AND UNDERSERVED MARKETS IN SOUTH DAKOTA.

  • NEW MARKET TAX CREDIT PROGRAM: GROW SOUTH DAKOTA OWNS AND LEASES TWO SCHOOL BUILDINGS TO OGLALA LAKOTA SCHOOL DISTRICT THROUGH THE YEAR.

    Expenses $938,288 · Revenue $545,894

  • HOUSING: GROW SOUTH DAKOTA OWNS A 60 UNIT HUD PROPERTY IN MILBANK, SOUTH DAKOTA. THE PROJECT IS CURRENTLY MANAGED BY MILLS PROPERTY MANAGEMENT AND CONSISTS OF 30 ONE-BEDROOM ELDERLY UNITS AND 30 FAMILY TWO- AND THREE- BEDROOM UNITS IN TOWN HOUSE STRUCTURES. THE ORGANIZATION MADE 95 ON- BALANCE SHEET HOUSING LOANS TOTALING 1,586,529. THE ORGANIZATION ALSO ASSISTED 61 HOME OWNERS WITH HOUSING REHAB ON EXISTING PROPERTY THAT TOTALED 690,574 IN REPAIRS.

    Expenses $1,567,230 · Grants $690,574 · Revenue $279,564

  • BUSINESS REVOLVING LOAN FUNDS: IN FY2025, GROW SOUTH DAKOTA MADE 18 BUSINESS LOANS TOTALING 1,352,500 CREATING OR RETAINING 38 JOBS THROUGH THE REVOLVING LOAN FUND. THE ORGANIZATION PROVIDES TECHNICAL ASSISTANCE TO ALL APPLICANTS.

    Expenses $258,293 · Revenue $939,492

  • GROW SOUTH DAKOTA ASSISTED ONE NON-PROFIT ORGANIZATION BY MAKING AVAILABLE 8 VEHICLES AND ONE PIECE OF EQUIPMENT TO FURTHER THAT ORGANIZATION'S WORK IN LOW-INCOME WEATHERIZATION AND HOUSING REHABILITATION. GROW SOUTH DAKOTA WAS ALSO INVOLVED IN SOME PROGRAMS THAT WILL FURTHER THEIR WORK IN COMMUNITY ENGAGEMENT.

    Expenses $110,423 · Grants $48,313 · Revenue $41,934

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Tawney Brunsch

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Craig Carson

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    1

  • Tom Farber

    SECRETARY/TR

    Total calculated
    $0
    Hours/week
    1

  • Michelle Kane

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Eric Kunzweiler

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michael Malone

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Daniel Menking

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Ginger Niemann

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Eric Shepherd

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Marcia Erickson

    CHIEF EXECUT

    Total calculated
    $0

  • Lori Finnesand

    CHIEF EXECUT

    Total calculated
    $0

  • Kathryn Rasmus

    CHIEF FINANC

    Total calculated
    $0

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

  • BLUE STEM CONSULTING

    $21,375

    SUPPORT PROGRAMS

  • COMMUNITY WORKS NORTH DAKOTA

    $12,401

    SUPPORT PROGRAMS

  • THE LAKOTA FUNDS

    $7,821

    SUPPORT PROGRAMS

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • GROW WOLF CREEK SCHOOL LLC

    SCHOOL BLD · SD · income $191,615 · assets $13,554,247

    Directly controlled by GROW SD

  • GROW CTE SCHOOL LLC

    SCHOOL BLD · SD · income $354,279 · assets $25,202,308

    Directly controlled by GROW SD

  • PHEASANT VALLEY COURTYARD LLC

    APT RENTAL · SD · income $533,763 · assets $2,498,839

    Directly controlled by GROW SD

Provenance

Return type
form_990
Tax year
2024
Filed
15 November 2025
IRS schema version
2024v5.0
Source object
202543249349300609

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