Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $297,618

• 2a · Program service revenue: HOUSING PROJECT RENTAL

  total $166,647 · related or exempt $166,647

• 3 · Investment income

  total $1,412 · excluded $1,412

Functional expenses

Part IX, the statement of functional expenses.

• 11a · Fees: management

  total $12,566 · management and general $12,566

• 11c · Fees: accounting

  total $5,375 · management and general $5,375

• 11g · Fees: other

  total $3,566 · program services $3,566

• 13 · Office expenses

  total $4,052 · management and general $4,052

• 16 · Occupancy

  total $50,922 · program services $50,922

• 22 · Depreciation, depletion and amortization

  total $76,131 · program services $76,131

• 24a · Other expenses: MAINTENANCE & REPAIRS

  total $62,384 · program services $62,384

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $125,599 · end of year $13,598

• 2 · Savings and temporary cash investments

  beginning of year $0 · end of year $30,874

• 4 · Accounts receivable

  beginning of year $7,158 · end of year $67,621

• 9 · Prepaid expenses and deferred charges

  beginning of year $0 · end of year $387

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

  $2,072,109

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

  $993,330

• 10c · Land, buildings and equipment, net

  beginning of year $1,154,911 · end of year $1,078,779

• 17 · Accounts payable and accrued expenses

  beginning of year $445,512 · end of year $47,563

• 21 · Escrow or custodial account liability

  beginning of year $3,727 · end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $596,448 · end of year $646,428

• 25 · Other liabilities

  beginning of year $0 · end of year $4,606

• 27 · Net assets without donor restrictions

  beginning of year $241,981 · end of year $492,662

The filer's explanations (Part III)

PART I, LINE 3

THE ORGANIZATION'S CEO IS COMPENSATED BY BLACK HILLS WORKS, INC. (A RELATED PARTY). THE CEO'S ANNUAL SALARY IS DETERMINED BY AGREEMENT BETWEEN THE BOARD OF DIRECTORS FOR EACH AGENCY. THE BOARDS WORK COLLABORATIVELY TO REVIEW THE CEO'S PERFORMANCE AND DETERMINE ANNUAL SALARY. THE BOARDS TAKE INTO CONSIDERATION SALARY INCREASE PERCENTAGES THAT WERE GIVEN TO ALL STAFF AS WELL AS LEVEL OF PERFORMANCE OVER THE PREVIOUS YEAR. GUIDE STAR DATA FROM 18 OTHER NON-PROFITS IN SOUTH DAKOTA ARE GIVEN TO THE BOARD TO USE IN COMPARISON IN SETTING THE CEO'S SALARY. IN EXAMINING THIS DATA, THE BOARD LOOKS AT ANNUAL BUDGET AND CEO COMPENSATION AMOUNTS. DURING A REGULAR BOARD MEETING, THEY CALL AN EXECUTIVE SESSION AND DISCUSS PERFORMANCE AND SALARY WITH THE FULL BOARD.

Related corporations and trusts

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

• A-Z INC

  C · SERVICES · SD