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Nonprofiteer
← BRANDON DEVELOPMENT FOUNDATION INC

Form 990 for tax year 2024

Filed by BRANDON DEVELOPMENT FOUNDATION INC.

Totals

Total revenue
$219,337
Total expenses
$11,928
Contributions and grants received
$67,992
Grants paid
$0
Program service revenue
$0
Investment income
$151,345
Other revenue
$0
Total assets, end of year
$3,957,261
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$3,957,261
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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.

  • 1b · Membership dues

    $4,300

  • 1e · Government grants (contributions)

    $53,892

  • 1f · All other contributions, gifts and grants

    $9,800

  • 3 · Investment income

    total $122,346 · excluded $122,346

  • 7a · Gross sales of assets other than inventory

    other assets $253,517

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

    other assets $224,518

  • 7c · Gain or loss

    other assets $28,999

  • 7d · Net gain or loss

    total $28,999 · excluded $28,999

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $9,027

  • 23 · Insurance

    total $2,114

  • 24a · Other expenses: MISCELLANEOUS EXPENSES

    total $787

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $13,258 · end of year $101,314

  • 2 · Savings and temporary cash investments

    beginning of year $1,669,148 · end of year $1,991,494

  • 8 · Inventories for sale or use

    beginning of year $2,068,741 · end of year $1,864,453

  • 17 · Accounts payable and accrued expenses

    beginning of year $1 · end of year $0

  • 25 · Other liabilities

    beginning of year $1,294 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $3,749,852 · end of year $3,957,261

Mission and programs · 2024

Mission

THE MISSION OF THE BRANDON DEVELOPMENT FOUNDATION (BDF) IS TO CREATE AND TO RETAIN JOBS WITHIN THE CITY OF BRANDON, SOUTH DAKOTA. AS A NON-PROFIT ORGANIZATION WITH A VOLUNTEER BOARD OF DIRECTORS, BDF TAKES THE LONG-VIEW AND REALIZES THAT ECONOMIC DEVELOPMENT IS A LONG-TERM EFFORT.ECONOMIC DEVELOPMENT BRINGS NEW JOBS INTO TOWN WHICH BENEFITS THE COMMUNITY THROUGH INCREASED LOCAL PAYROLLS THAT IN TURN COME BACK TO BRANDON IN TERMS OF RETAIL ACTIVITY, SALES TAX, AND INCREASED HOME OWNERSHIP. ADDITIONALLY, COMMERCIAL AND INDUSTRIAL PROPERTIES GENERALLY PAY PROPORTIONATELY MORE PROPERTY TAX AND TAKE BACK LESS IN SERVICES THAN RESIDENTIAL PROPERTIES. THE BOTTOM LINE IS THAT INDUSTRIAL GROWTH IS TAX RELIEF AND INCREASED DEVELOPMENT IS GOOD FOR THE CITY OF BRANDON.

Activities or mission (Part I)

THE MISSION OF THE BRANDON DEVELOPMENT FOUNDATION (BDF) IS TO CREATE AND TO RETAIN JOBS WITHIN THE COMMUNITY. AS A NON-PROFIT ORGANIZATION WITH A VOLUNTEER BOARD OF DIRECTORS, BDF TAKES THE LONG-VIEW AND REALIZES THAT ECONOMIC DEVELOPMENT IS A LONG-TERM EFFORT.

  • DURING THE LAST FISCAL YEAR, ONE SALE OF LAND OCCURRED IN THE ROVANG INDUSTRIAL PARK. THE SALE OF LOT 5, BLOCK 1, ROVANG INDUSTRIAL PARK ADDITION OCCURRED ON FEBRUARY 3, 2025. THE CITY OF BRANDON CONTINUES TO WORK WITH THAT BUYER REGARDING THE FUTURE DEVELOPMENT OF THAT LOT. AS OF THE END OF THE FISCAL YEAR, LOT 3, BLOCK 2, ROVANG INDUSTRIAL PARK ADDITION WAS SUBJECT TO A PURCHASE AGREEMENT. WE ANTICIPATE THAT TRANSACTION TO CLOSE BEFORE THE END OF 2025. ASSUMING IT OCCURS, THAT LEAVES THE BRANDON DEVELOPMENT FOUNDATION WITH ONLY ONE LOT LEFT TO SELL IN THE ROVANG INDUSTRIAL PARK. UNTIL THE FINAL LOT IS SOLD, WE COULD POTENTIALLY INCUR SOME RECURRING MINIMAL MAINTENANCE COSTS FOR THE DETENTION POND. IT'S ALSO POSSIBLE THE DETENTION POND WILL NEED FURTHER ENGINEERING DEPENDING ON THE NEEDS OF THE EVENTUAL BUYER OF LOT 4, BLOCK 3, ROVANG INDUSTRIAL PARK ADDITION. THE DETENTION POND WILL EVENTUALLY BE TRANSFERRED TO THE CITY OF BRANDON.OTHERWISE, THE MAJORITY OF OUR WORK THIS PAST YEAR HAS BEEN MARKETING THE AVAILABLE PROPERTIES AND WORKING WITH IMEG AND THE CITY OF BRANDON ON THE POSSIBILITY OF CREATING A FUTURE WETLAND MITIGATION BANK ON THE EAST SIDE OF THE CITY OF BRANDON. AS OF THE END OF THE FISCAL YEAR, WE ARE STILL WORKING THROUGH DETAILS WITH THE U.S. ARMY CORPS OF ENGINEERS, IMEG, AND ADJACENT PROPERTY OWNERS, BUT FEEL THE PROJECT IS A PROMISING SOURCE OF INCOME UNTIL LAND BECOMES AVAILABLE TO DEVELOP THE CITY OF BRANDON'S NEXT INDUSTRIAL PARK.

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

Listed in Part VII

  • Tim Jorgenson

    PRESIDENT

    Total calculated
    $0
    Hours/week
    3

  • Paul Vandeberg

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Jay Buchholz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kevin Erickson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Anthony Siemonsma

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Steve Kolbeck

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Yannick Laroche

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Aj Delange

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Valerie Lemkau

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Patrick Andrews

    SECRETARY / TREASURER

    Total calculated
    $0
    Hours/week
    4

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
2024
Filed
31 January 2026
IRS schema version
2024v5.5
Source object
202610349349301011

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