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Nonprofiteer
← BLACK HILLS COMMUNITY LOAN FUND INC

Form 990 for tax year 2024

Filed by BLACK HILLS COMMUNITY LOAN FUND INC.

Totals

Total revenue
$1,661,295
Total expenses
$882,795
Contributions and grants received
$1,645,900
Grants paid
$0
Program service revenue
$0
Investment income
$586
Other revenue
$14,809
Total assets, end of year
$1,448,038
Total liabilities, end of year
$324,932
Net assets or fund balances, end of year
$1,123,106
Program services expenses (Part IX)
$560,211
Management and general expenses
$216,169
Fundraising expenses
$106,415
Program service expenses (Part III)
$560,211

Program services were 63.5% 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)

    $122,767

  • 1f · All other contributions, gifts and grants

    $1,523,133

  • 3 · Investment income

    total $586 · related or exempt $586

  • 8c · Net income from fundraising events

    total $0

  • 11a · Other revenue: Program Revenue

    total $9,188 · related or exempt $9,188

  • 11b · Other revenue: LOAN Fund Revenue

    total $5,621 · related or exempt $5,621

  • 11e · Other revenue, total

    $14,809

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $521,141 · program services $316,906 · management and general $135,861 · fundraising $68,374

  • 10 · Payroll taxes

    total $31,115 · program services $18,921 · management and general $8,112 · fundraising $4,082

  • 11a · Fees: management

    total $111,502 · program services $67,805 · management and general $29,069 · fundraising $14,628

  • 11b · Fees: legal

    total $10,156 · program services $7,508 · management and general $2,648

  • 12 · Advertising and promotion

    total $24,582 · program services $14,948 · management and general $6,409 · fundraising $3,225

  • 13 · Office expenses

    total $39,739 · program services $24,165 · management and general $10,360 · fundraising $5,214

  • 16 · Occupancy

    total $45,689 · program services $31,851 · management and general $9,896 · fundraising $3,942

  • 17 · Travel

    total $20,397 · program services $12,404 · management and general $5,317 · fundraising $2,676

  • 19 · Conferences, conventions and meetings

    total $5,650 · program services $3,435 · management and general $1,474 · fundraising $741

  • 20 · Interest

    total $9,526 · program services $5,793 · management and general $2,484 · fundraising $1,249

  • 22 · Depreciation, depletion and amortization

    total $968 · program services $589 · management and general $252 · fundraising $127

  • 24a · Other expenses: Board Expense

    total $16,442 · program services $9,998 · management and general $4,287 · fundraising $2,157

  • 24b · Other expenses: Bad Debt Expense

    total $18,110 · program services $18,110

  • 24c · Other expenses: Grant Program Fees

    total $27,778 · program services $27,778

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $195,873 · end of year $1,308,604

  • 4 · Accounts receivable

    beginning of year $1,141,569 · end of year $39,142

  • 7 · Other notes and loans receivable

    beginning of year $167,506 · end of year $91,441

  • 9 · Prepaid expenses and deferred charges

    beginning of year $604

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

    $11,617

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

    $2,766

  • 10c · Land, buildings and equipment, net

    beginning of year $10,787 · end of year $8,851

  • 17 · Accounts payable and accrued expenses

    beginning of year $67,639 · end of year $27,805

  • 19 · Deferred revenue

    beginning of year $1,140,169

  • 24 · Unsecured notes and loans payable

    beginning of year $113,528 · end of year $297,127

  • 27 · Net assets without donor restrictions

    beginning of year -$4,997 · end of year $923,106

  • 28 · Net assets with donor restrictions

    beginning of year $200,000 · end of year $200,000

Mission and programs · 2024

Mission

TO CREATE FINANCIAL OPPORTUNITIES FOR PEOPLE WHO ARE NOT BEING ECONOMICALLY SERVED BY TYPICAL LENDING INSTITUTIONS IN RAPID CITY, SOUTH DAKOTA AND SURROUNDING COMMUNITIES.

  • The Black Hills Community Loan Fund continues to work on increasing the number of loans offered and assist their clients with home ownership.

    Expenses $560,211

As filed on the 2024 return.

Listed in Part VII

  • Barbara Schmitt

    Executive Director

    Total calculated
    $79,181
    From this org
    $79,181
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us · ignoring case and punctuation

    Base
    $79,181
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $79,181

  • Eileen Lafferty

    EXECUTIVE DIRECTOR

    Total calculated
    $57,056
    From this org
    $57,056
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Ramona Harrington

    Director

    Total calculated
    $3,000
    From this org
    $3,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Cassandra Palmier

    Treasurer

    Total calculated
    $3,000
    From this org
    $3,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Tanya Fiddler

    President

    Total calculated
    $2,500
    From this org
    $2,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Bonnie LeBeau

    Secretary

    Total calculated
    $2,500
    From this org
    $2,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Yolanda Garcia

    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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Written employment contract

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
15 November 2025
IRS schema version
2024v5.2
Source object
202523219349327782

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