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← SOUTH DAKOTA BANKERS ASSOCIATION

Form 990 for tax year 2022

Filed by SOUTH DAKOTA BANKERS ASSOCIATION.

Totals

Total revenue
$1,620,576
Total expenses
$1,160,440
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$599,806
Investment income
$360,379
Other revenue
$660,391
Total assets, end of year
$4,543,463
Total liabilities, end of year
$44,252
Net assets or fund balances, end of year
$4,499,211
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.

  • 2a · Program service revenue: MEMBERSHIP DUES

    total $547,394 · related or exempt $547,394

  • 2b · Program service revenue: SD BANKERS MAGAZINE

    total $52,412 · unrelated business $52,412

  • 3 · Investment income

    total $371,167 · related or exempt $334,034 · excluded $37,133

  • 7a · Gross sales of assets other than inventory

    securities $210,030 · other assets $1,850

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

    securities $222,668

  • 7c · Gain or loss

    securities -$12,638 · other assets $1,850

  • 7d · Net gain or loss

    total -$10,788 · related or exempt -$12,638 · excluded $1,850

  • 11a · Other revenue: EDUCATIONAL ACTIVITIES

    total $401,818 · excluded $401,818

  • 11b · Other revenue: CONFERENCES & CONVENTIONS

    total $163,603 · excluded $163,603

  • 11c · Other revenue: ADMINISTRATIVE FEES

    total $83,000 · related or exempt $83,000

  • 11d · All other revenue

    total $11,970 · related or exempt $11,970

  • 11e · Other revenue, total

    $660,391

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $372,576

  • 7 · Other salaries and wages

    total $116,911

  • 8 · Pension plan contributions

    total $10,767

  • 9 · Other employee benefits

    total $19,103

  • 10 · Payroll taxes

    total $29,541

  • 11b · Fees: legal

    total $41,565

  • 11c · Fees: accounting

    total $23,537

  • 11d · Fees: lobbying

    total $18,678

  • 13 · Office expenses

    total $41,021

  • 17 · Travel

    total $2,956

  • 19 · Conferences, conventions and meetings

    total $64,637

  • 22 · Depreciation, depletion and amortization

    total $22,376

  • 23 · Insurance

    total $31,923

  • 24a · Other expenses: EDUCATION SERVICES

    total $167,851

  • 24b · Other expenses: PRINTING & PUBLICATIONS

    total $42,186

  • 24c · Other expenses: READERSHIP COSTS

    total $31,367

  • 24d · Other expenses: INTERNET EXPENSE

    total $29,630

  • 24e · All other expenses

    total $93,815

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $521,905 · end of year $880,558

  • 2 · Savings and temporary cash investments

    beginning of year $1,400,000 · end of year $1,400,000

  • 4 · Accounts receivable

    beginning of year $37,809 · end of year $20,202

  • 9 · Prepaid expenses and deferred charges

    beginning of year $22,397 · end of year $16,213

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

    $1,069,349

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

    $542,099

  • 10c · Land, buildings and equipment, net

    beginning of year $549,626 · end of year $527,250

  • 11 · Investments: publicly traded securities

    beginning of year $1,314,463 · end of year $1,070,448

  • 12 · Investments: other securities

    beginning of year $490,302 · end of year $628,792

  • 17 · Accounts payable and accrued expenses

    beginning of year $14,521 · end of year $20,458

  • 19 · Deferred revenue

    beginning of year $56,603 · end of year $23,794

  • 27 · Net assets without donor restrictions

    beginning of year $4,265,378 · end of year $4,499,211

Mission and programs · 2022

Mission

PROMOTE WELFARE AND USEFULNESS OF BANKS AND FINANCIAL INSTITUIONS

  • COORDINATE CONFERENCE, CONVENTIONS, TRAINING AND PROVIDE A MONTHLY NEWSLETTER TO KEEP MEMBERS INFORMED OF CURRENT RELEVANT TOPICS AND ENCOURAGE CONTINUING EDUCATION AMONG MEMBERS.

As filed on the 2022 return.

Listed in Part VII

  • Karlton Adam

    PRESIDENT

    Total calculated
    $247,600
    From this org
    $235,000
    From related orgs
    $0
    Other
    $12,600
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $210,000
    Bonus
    $25,000
    Other
    not reported
    Deferred
    $12,600
    Nontaxable benefits
    not reported
    Filer's total
    $247,600
  • Kristina Schaefer

    PAST CHAIR

    Total calculated
    $0
    Hours/week
    1
  • David D Nelson

    CHAIR-ELECT

    Total calculated
    $0
    Hours/week
    1
  • Pete Mehlhaff

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Nathan Franzen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Keith Knuppe

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Craig Davis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • David Bangasser

    CHAIR

    Total calculated
    $0
    Hours/week
    1
  • Dylan Clarkson

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1
  • Dusty Pinske

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Mike Klumpp

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • John McGrath

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Pennie Lutz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Halley Lee

    ADM. V-PRES

    Total calculated
    $124,976
    From this org
    $104,020
    From related orgs
    $0
    Other
    $20,956
    Hours/week
    40
  • Terry Fitzke

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Josh Horak

    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 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

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.

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.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • SD BANKERS INSURANCE & SERVICES

    C CORP · INSURANCE · SD · 100% owned · share of income $1,042,575 · share of assets $862,072

Provenance

Return type
form_990
Tax year
2022
Filed
1 November 2023
IRS schema version
2022v5.0
Source object
202333079349301318

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