Form 990 for tax year 2023
Filed by BRANDON DEVELOPMENT FOUNDATION INC.
Totals
- Total revenue
- $82,226
- Total expenses
- $37,163
- Contributions and grants received
- $48,750
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $33,476
- Other revenue
- $0
- Total assets, end of year
- $3,751,147
- Total liabilities, end of year
- $1,295
- Net assets or fund balances, end of year
- $3,749,852
- 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.
-
1b · Membership dues
$26,050
-
1e · Government grants (contributions)
$10,200
-
1f · All other contributions, gifts and grants
$12,500
-
3 · Investment income
total $31,476 · excluded $31,476
-
7a · Gross sales of assets other than inventory
other assets $2,000
-
7b · Less cost or other basis and sales expenses
other assets $0
-
7c · Gain or loss
other assets $2,000
-
7d · Net gain or loss
total $2,000 · related or exempt $2,000
Functional expenses
Part IX, the statement of functional expenses.
-
11b · Fees: legal
total $25,000
-
11c · Fees: accounting
total $8,013
-
17 · Travel
total $2,105
-
23 · Insurance
total $2,035
-
24a · Other expenses: MISCELLANEOUS EXPENSES
total $10
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $36,507 · end of year $13,258
-
2 · Savings and temporary cash investments
beginning of year $1,812,672 · end of year $1,669,148
-
8 · Inventories for sale or use
beginning of year $2,049,797 · end of year $2,068,741
-
17 · Accounts payable and accrued expenses
beginning of year $82,494 · end of year $1
-
25 · Other liabilities
beginning of year $111,693 · end of year $1,294
-
27 · Net assets without donor restrictions
beginning of year $3,704,789 · end of year $3,749,852
Mission and programs · 2023
Mission
THE MISSION OF THE BRANDON DEVELOPMENT FOUNDATION (BDF) IS TO CREATE AND TO RETAIN JOBS WITHIN THE CITY OF BRANDON, SOUTH DAKOTA. AS A NON-PROFIT ORGANIZATION WITH A VOLUNTEER BOARD OF DIRECTORS, BDF TAKES THE LONG-VIEW AND REALIZES THAT ECONOMIC DEVELOPMENT IS A LONG-TERM EFFORT.ECONOMIC DEVELOPMENT BRINGS NEW JOBS INTO TOWN WHICH BENEFITS THE COMMUNITY THROUGH INCREASED LOCAL PAYROLLS THAT IN TURN COME BACK TO BRANDON IN TERMS OF RETAIL ACTIVITY, SALES TAX, AND INCREASED HOME OWNERSHIP. ADDITIONALLY, COMMERCIAL AND INDUSTRIAL PROPERTIES GENERALLY PAY PROPORTIONATELY MORE PROPERTY TAX AND TAKE BACK LESS IN SERVICES THAN RESIDENTIAL PROPERTIES. THE BOTTOM LINE IS THAT INDUSTRIAL GROWTH IS TAX RELIEF AND INCREASED DEVELOPMENT IS GOOD FOR THE CITY OF BRANDON.
Activities or mission (Part I)
THE MISSION OF THE BRANDON DEVELOPMENT FOUNDATION (BDF) IS TO CREATE AND TO RETAIN JOBS WITHIN THE COMMUNITY. AS A NON-PROFIT ORGANIZATION WITH A VOLUNTEER BOARD OF DIRECTORS, BDF TAKES THE LONG-VIEW AND REALIZES THAT ECONOMIC DEVELOPMENT IS A LONG-TERM EFFORT.
-
IN THE PAST YEAR, NO SALES OF LAND OCCURRED IN THE ROVANG INDUSTRIAL PARK; HOWEVER, 0.21 ACRES OF LAND, BEING BLOCK 3 LOT 3, WAS TRANSFERRED TO EBC HOLDINGS LLC AT NO COST TO FACILITATE THE CONSTRUCTION OF ENGINEERED TRUSS SYSTEMS INC. ON BLOCK 3 LOTS 1 AND 2. IT IS ANTICIPATED THAT WHEN FULLY OPERATIONAL, ENGINEERED TRUSS SYSTEMS INC. WILL PROVIDE BETWEEN 50 AND 100 LOCAL JOBS.OTHERWISE, THE MAJORITY OF OUR WORK THIS PAST YEAR HAS BEEN MARKETING THE AVAILABLE PROPERTIES AND WORKING WITH SAYRE ASSOCIATES, SOUKUP CONSTRUCTION, AND VARIOUS CONTRACTORS TO COMPLETE THE HONEYSUCKLE STREET EXTENSION PROJECT. AS OF THE END OF SEPTEMBER 2024, TWO OF THE REMAINING THREE UNSOLD LOTS WERE SUBJECT TO PURCHASE AGREEMENTS. WE ANTICIPATE ONE WILL CLOSE WITHOUT ISSUE AND THE STATUS OF THE OTHER IS UNKNOWN. UNTIL THE FINAL LOT IS SOLD, WE WILL LIKELY INCUR SOME RECURRING MAINTENANCE COSTS FOR THE DETENTION POND. THE DETENTION POND WILL EVENTUALLY BE TRANSFERRED TO THE CITY OF BRANDON.
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Tim JorgensonTIM JORGENSON
PRESIDENT
- Total calculated
- $0
- Hours/week
- 3
-
Paul VandebergPAUL VANDEBERG
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 2
-
Jay BuchholzJAY BUCHHOLZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Kevin EricksonKEVIN ERICKSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Anthony SiemonsmaANTHONY SIEMONSMA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Steve KolbeckSTEVE KOLBECK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jason Long Until 12324JASON LONG UNTIL 12324
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Yannick LarocheYANNICK LAROCHE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Aj DelangeAJ DELANGE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Valerie Lemkau Start 1-23-24VALERIE LEMKAU START 1-23-24
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Patrick AndrewsPATRICK ANDREWS
SECRETARY / TREASURER
- Total calculated
- $0
- Hours/week
- 4
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.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 28 February 2025
- IRS schema version
- 2023v6.0
- Source object
- 202530599349301308
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