Skip to content
Nonprofiteer
← PIERRE ECONOMIC DEVELOPMENT

Form 990 for tax year 2023

Filed by PIERRE ECONOMIC DEVELOPMENT.

Totals

Total revenue
$322,634
Total expenses
$285,243
Contributions and grants received
$200,952
Grants paid
$6,500
Program service revenue
$0
Investment income
$35,976
Other revenue
$85,706
Total assets, end of year
$1,375,038
Total liabilities, end of year
$141,420
Net assets or fund balances, end of year
$1,233,618
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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.

  • 1b · Membership dues

    $38,940

  • 1e · Government grants (contributions)

    $136,662

  • 1f · All other contributions, gifts and grants

    $25,350

  • 3 · Investment income

    total $17,127 · unrelated business $0 · excluded $17,127

  • 6a · Gross rents

    real property $83,331

  • 6c · Rental income or loss

    real property $83,331

  • 6d · Net rental income or loss

    total $83,331 · related or exempt $83,331

  • 7a · Gross sales of assets other than inventory

    other assets $1,035,559

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

    other assets $1,016,710

  • 7c · Gain or loss

    other assets $18,849

  • 7d · Net gain or loss

    total $18,849 · related or exempt $18,849 · unrelated business $0 · excluded $0

  • 11a · Other revenue: MISCELLANEOUS

    total $2,375 · related or exempt $2,375 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $2,375

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $6,500 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $115,745 · program services $0 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $3,472 · program services $0 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $8,899 · program services $0 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $849 · program services $0 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $12,690 · program services $0 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $5,408 · program services $0 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $3,122 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $5,502 · program services $0 · management and general $0 · fundraising $0

  • 17 · Travel

    total $2,546 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $5,221 · program services $0 · management and general $0 · fundraising $0

  • 20 · Interest

    total $24,432 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $29,226 · program services $0 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $3,522 · program services $0 · management and general $0 · fundraising $0

  • 24a · Other expenses: ADMINISTRATION EXP

    total $32,220 · program services $0 · management and general $0 · fundraising $0

  • 24b · Other expenses: BANK CHARGES

    total $60 · program services $0 · management and general $0 · fundraising $0

  • 24c · Other expenses: LAND LEASE

    total $2,500 · program services $0 · management and general $0 · fundraising $0

  • 24d · Other expenses: DUES & MEMBERSHIPS

    total $2,528 · program services $0 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $20,801 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $140,870 · end of year $166,480

  • 2 · Savings and temporary cash investments

    beginning of year $500,711 · end of year $835,918

  • 4 · Accounts receivable

    beginning of year $18,000 · end of year $18,000

  • 7 · Other notes and loans receivable

    beginning of year $427,616 · end of year $352,781

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,234 · end of year $886

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

    $33,124

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

    $33,124

  • 10c · Land, buildings and equipment, net

    beginning of year $1,043,492 · end of year $0

  • 14 · Intangible assets

    beginning of year $1,447 · end of year $973

  • 17 · Accounts payable and accrued expenses

    beginning of year $20,853 · end of year $21,403

  • 19 · Deferred revenue

    beginning of year $120,017 · end of year $120,017

  • 23 · Secured mortgages and notes payable

    beginning of year $797,714 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $1,194,786 · end of year $1,233,618

  • 28 · Net assets with donor restrictions

    beginning of year $0

Mission and programs · 2023

Mission

ORGANIZATION WAS DEVELOPED TO PROMOTE NEW BUSINESSES IN THE AREA BY HOLDING DEVELOPED LOTS FOR RENT AND TO ASSIST BUSINESSES IN OBTAINING LOANS TO BEGIN OR CONTINUE OPERATIONS.

  • CORP IS PAID THROUGH RENTAL AGREEMENTS IN ORDER TO FULFILL ITS MISSION FOR THE PROMOTION OF THE PIERRE COMMUNITY BY EXPANSION OF PRESENT FACILITIES OR PROMOTING NEW FACILITIES TO ATTRACT NEW BUSINESSES AND CONVENTIONS TO THE AREA. THIS INVOLVES THE BUILDING OF NEW FACILITIES IN THE AREA TO ACCOMMODATE THE NEW OR EXPANDING BUSINESSES THAT NEED A PLACE TO OPERATE. THE CORP USES RENTAL INCOME TO PAY OFF THE DEBT THAT WAS INCURRED TO BUILD NEW FACILITIES AND TO IMPROVE OLD BUSINESSES TO ATTRACT BUSINESS GROWTH IN PIERRE.

As filed on the 2023 return.

Listed in Part VII

  • Jim Protexter

    CHIEF OPERATING OFFICER

    Total calculated
    $115,745
    From this org
    $115,745
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Andy Hubbart

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Kim Easland

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Dustin Christopherson

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Doug Abraham

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Zach Clark

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Josh Larson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dawn Morris

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mary Lehecka-Nelson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Gaylon Gerber

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ron Wagner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Bobbie Country

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Gordon Woods

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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.

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

1 distribution to a recipient named as a person, $1,035,559. Counted where the filer named the recipient as a person, as filed. Who received them, and what, are not published.

Provenance

Return type
form_990
Tax year
2023
Filed
3 September 2024
IRS schema version
2023v5.1
Source object
202412579349301456

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.