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Nonprofiteer
← PIERRE ECONOMIC DEVELOPMENT

Form 990 for tax year 2022

Filed by PIERRE ECONOMIC DEVELOPMENT.

Totals

Total revenue
$303,470
Total expenses
$293,911
Contributions and grants received
$205,580
Grants paid
$43,504
Program service revenue
$0
Investment income
$8,424
Other revenue
$89,466
Total assets, end of year
$2,133,370
Total liabilities, end of year
$938,584
Net assets or fund balances, end of year
$1,194,786
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

    $41,730

  • 1e · Government grants (contributions)

    $134,162

  • 1f · All other contributions, gifts and grants

    $29,688

  • 3 · Investment income

    total $8,424 · unrelated business $0 · excluded $8,424

  • 6a · Gross rents

    real property $88,219

  • 6c · Rental income or loss

    real property $88,219

  • 6d · Net rental income or loss

    total $88,219 · related or exempt $88,219

  • 11a · Other revenue: MISCELLANEOUS

    total $1,247 · related or exempt $1,247 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $1,247

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $37,200 · program services $0

  • 2 · Grants to domestic individuals

    total $6,304 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $106,665 · program services $0 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $3,165 · program services $0 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $8,115 · program services $0 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $1,336 · program services $0 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $13,479 · program services $0 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $2,794 · program services $0 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $4,036 · program services $0 · management and general $0 · fundraising $0

  • 17 · Travel

    total $6,860 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $10,719 · program services $0 · management and general $0 · fundraising $0

  • 20 · Interest

    total $26,248 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $30,650 · program services $0 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $3,501 · program services $0 · management and general $0 · fundraising $0

  • 24a · Other expenses: ADMINISTRATION EXP

    total $27,813 · program services $0 · management and general $0 · fundraising $0

  • 24b · Other expenses: BANK CHARGES

    total $26 · 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 $2,500 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $154,421 · end of year $140,870

  • 2 · Savings and temporary cash investments

    beginning of year $468,403 · end of year $500,711

  • 4 · Accounts receivable

    beginning of year $0 · end of year $18,000

  • 7 · Other notes and loans receivable

    beginning of year $508,512 · end of year $427,616

  • 9 · Prepaid expenses and deferred charges

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

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

    $1,249,441

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

    $205,949

  • 10c · Land, buildings and equipment, net

    beginning of year $1,073,668 · end of year $1,043,492

  • 14 · Intangible assets

    beginning of year $1,921 · end of year $1,447

  • 17 · Accounts payable and accrued expenses

    beginning of year $19,523 · end of year $20,853

  • 19 · Deferred revenue

    beginning of year $690 · end of year $120,017

  • 23 · Secured mortgages and notes payable

    beginning of year $875,802 · end of year $797,714

  • 27 · Net assets without donor restrictions

    beginning of year $1,185,227 · end of year $1,194,786

  • 28 · Net assets with donor restrictions

    beginning of year $126,917 · end of year $0

Mission and programs · 2022

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 2022 return.

Listed in Part VII

  • Jim Protexter

    CHIEF OPERATING OFFICER

    Total calculated
    $106,665
    From this org
    $106,665
    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

  • Rick Dockter

    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

  • Karl Richards

    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

  • AVERA ST MARY'S

    $15,000

    WORKFORCE RECRUITMENT

  • HUGHES CO SHERIFF

    no cash amount reported

    WORKFORCE RECRUITMENT

Provenance

Return type
form_990
Tax year
2022
Filed
9 November 2023
IRS schema version
2022v5.0
Source object
202303189349316275

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