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← WEST RIVER FOUNDATION FOR ECONOMIC AND COMMUNITY DEVELOPMENT

Form 990 for tax year 2023

Filed by WEST RIVER FOUNDATION FOR ECONOMIC AND COMMUNITY DEVELOPMENT.

Totals

Total revenue
$1,791,804
Total expenses
$930,370
Contributions and grants received
$742,048
Grants paid
$21,500
Program service revenue
$980,187
Investment income
$69,566
Other revenue
$3
Total assets, end of year
$14,994,827
Total liabilities, end of year
$9,826,671
Net assets or fund balances, end of year
$5,168,156
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.

  • 1e · Government grants (contributions)

    $742,048

  • 2a · Program service revenue: LOAN INTEREST

    total $547,276 · related or exempt $547,276

  • 2b · Program service revenue: CONTRACT SERVICES

    total $381,778 · related or exempt $381,778

  • 2c · Program service revenue: LOAN FEES

    total $51,133 · related or exempt $51,133

  • 3 · Investment income

    total $69,566 · excluded $69,566

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $3 · excluded $3

  • 11e · Other revenue, total

    $3

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $19,000

  • 2 · Grants to domestic individuals

    total $2,500

  • 5 · Compensation of officers, directors and key employees

    total $69,600

  • 7 · Other salaries and wages

    total $94,031

  • 10 · Payroll taxes

    total $11,726

  • 11b · Fees: legal

    total $4,403

  • 11c · Fees: accounting

    total $38,991

  • 11g · Fees: other

    total $303,329

  • 13 · Office expenses

    total $7,360

  • 17 · Travel

    total $7,746

  • 20 · Interest

    total $85,795

  • 23 · Insurance

    total $10,000

  • 24a · Other expenses: ADMINISTRATION FEES

    total $236,250

  • 24b · Other expenses: PROVISION FOR LOAN LOSS

    total $31,529

  • 24c · Other expenses: DUES & REGISTRATIONS

    total $8,110

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $653,021 · end of year $768,974

  • 2 · Savings and temporary cash investments

    beginning of year $1,395,120 · end of year $1,580,679

  • 4 · Accounts receivable

    beginning of year $194,716 · end of year $184,234

  • 7 · Other notes and loans receivable

    beginning of year $11,207,837 · end of year $11,548,945

  • 11 · Investments: publicly traded securities

    beginning of year $521,151 · end of year $561,118

  • 15 · Other assets

    beginning of year $349,782 · end of year $350,877

  • 17 · Accounts payable and accrued expenses

    beginning of year $184,997 · end of year $213,781

  • 23 · Secured mortgages and notes payable

    beginning of year $8,542,296 · end of year $8,508,891

  • 25 · Other liabilities

    beginning of year $1,117,313 · end of year $1,103,999

  • 27 · Net assets without donor restrictions

    beginning of year $4,477,021 · end of year $2,514,735

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $2,653,421

Mission and programs · 2023

Mission

TO RECRUIT BUSINESSES FROM OTHER STATES AND TO EXPAND IN-STATE BUSINESS INCLUDING ADMINISTERING AN ECONOMIC DEVELOPMENT AND RELENDING PROGRAM.

  • TO ADMINISTER AN ECONOMIC DEVELOPMENT AND RELENDING PROGRAM.

As filed on the 2023 return.

Listed in Part VII

  • Donald Andersen

    PRESIDENT

    Total calculated
    $8,000
    From this org
    $4,000
    From related orgs
    $4,000
    Other
    $0
    Hours/week
    2 + 2 related

  • Tim Crawford

    VICE PRESIDENT

    Total calculated
    $8,000
    From this org
    $4,000
    From related orgs
    $4,000
    Other
    $0
    Hours/week
    2 + 2 related

  • Shirley Halverson

    TREASURER

    Total calculated
    $8,000
    From this org
    $4,000
    From related orgs
    $4,000
    Other
    $0
    Hours/week
    2 + 2 related

  • William Termes

    SECRETARY

    Total calculated
    $8,000
    From this org
    $4,000
    From related orgs
    $4,000
    Other
    $0
    Hours/week
    2 + 2 related

  • James Doolittle

    DIRECTOR

    Total calculated
    $8,000
    From this org
    $4,000
    From related orgs
    $4,000
    Other
    $0
    Hours/week
    2 + 2 related

  • Ronald Rosenboom

    EXECUTIVE DIRECTOR

    Total calculated
    $88,778
    From this org
    $44,600
    From related orgs
    $44,178
    Other
    $0
    Hours/week
    20 + 20 related

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

  • SD GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT

    $15,000

    2023 GOVERNOR'S HUNT SPONSORSHIP

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.

Provenance

Return type
form_990
Tax year
2023
Filed
29 January 2025
IRS schema version
2023v6.0
Source object
202500299349300630

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