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Elevate Foundation INC

Tax-deductible

Rapid City, SD501(c)(3)Community Development EIN 20-0009589Revenue $551K in FY2024

On file with the IRSelevaterapidcity.com/foundation18 E Main St, 57701-2949 · Rapid City, SDTax-exempt since Nov 2003Publicly supported charity — 170(b)(1)(A)(vi)

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To further research and education in the areas of workforce development, entrepreneurship, and economic development that Elevate the rapid city economy for all.

501(c)(3) charity; gifts are tax-deductible.
98¢ of each $1 spent went to programs.
Run by 15 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

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FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Spent on programs
98%
of spending
Looks good: 98% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
22 mo
of spending, in cash
Looks good: 21.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$96K
18% of total assets
Looks good: liabilities are 18% of assets; 50% or less.
Pt X · Ln 26
Independent board members
15
of 15 voting members
Looks good: 15 of 15 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$551K
Spent
$161K
To programs
98%
Net assets
$440K

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 2003.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

98 cents of each dollar spent went to programs.

Program services 98% · $158K Management & general 2% · $3K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

16 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Tom Weaver
Vice-Chair
$0Pt VII · Sec A
Marne Jones
Treasurer
$0Pt VII · Sec A
Todd Kenner
Secretary
$0Pt VII · Sec A
Darren Haar
Past Chair
$0Pt VII · Sec A
Alan Solano
Board Member
$0Pt VII · Sec A
Andy Bartling
Board Member
$0Pt VII · Sec A
Brad Hearst
Board Member
$0Pt VII · Sec A
See Elevate Foundation INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Advances workforce, entrepreneurship, and economic development research to boost the local economy for everyone.

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Provided by the organization

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3 programs · $158K · in their own filed words · FY2024
01

Workforce development programming consists of outreach and research in the area of economic mobility including supporting opportunity populations with obtaining employment, educating employers about the benefits of hiring individuals who are typically left out of the workforce, and researching methods of increasing employment and wages…

$78Kprogram expense
02

Economic development includes research and education in the areas of housing, childcare, and other roadblocks in community development. This is accomplished through researching these topics impacting the community and developing white papers, reports, and dashboards to educate the business community and population at large about the…

$48Kprogram expense
03

Entrepreneurship programming includes education about the variety of startup supports that exist in the ecosystem as well as development and exploration of new methods of startup support.

$32Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Black Hills Area Community FoundationFY2025$10K
Total grants receivedfrom 1 funder$10K
Grants paid · 3 grants · $106K · 2024–2024
Elevate Rapid CitySD · FY2024$50,000
Elevate Rapid CitySD · FY2024$30,000
Elevate Rapid CitySD · FY2024$26,142

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$551K
Ln 12
Gifts and grantsLn 1h$551K
Money outPt IX
$161K
Ln 25
Programscol B$158K
Managementcol C$3K
Owns and owesPt X
$440K
net assets · Ln 32
Cash and savingsLn 1–2$293K
Total assetsLn 16$536K
LiabilitiesLn 26$96K
PeoplePt VI, VII
16
listed · VII A
PaidVII A0
Voting boardVI 1a15
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$551K
Government grantsLn 1e$20K
Total revenueLn 12$551K
Assets in detailPt X, end of year
CashLn 1$293K
Cash and savings togetherLn 1–2$293K
Total assetsLn 16$536K
LiabilitiesLn 26$96K
Net assetsLn 32$440K
OperationsPt I, VI
EmployeesI 50
VolunteersI 615
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$25K$293K
Total assetsLn 16$50K$536K
LiabilitiesLn 26$0$96K
Net assetsLn 32$50K$440K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$110K$110K
Accounting feesLn 11c$2K$2K
Other fees for servicesLn 11g$29K$29K
Advertising and promotionLn 12$5K$5K
Office expensesLn 13$966$966
Other expenses (24a–d)Ln 24$14K$14K
Total functional expensesLn 25$161K$158K$3K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $551K$161K$390K$440K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $550,546 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$550,546
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $0$550,546
I-13 Grants and similar amounts paidPrior year $0$109,516
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $0$51,009
I-18 Total expensesPrior year $0$160,525
I-19 Revenue less expensesPrior year $0$390,021
Part VI · Governance 15 of 15 board members independent, 1 to look at
VI-1a Voting members of the governing body15
VI-1b Independent voting members15
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $550,546 across 4 lines filed
VIII-1e Government grants$19,727
VIII-1f All other contributions, gifts and grants$530,819
VIII-1h Total contributions, gifts and grants$550,546
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$550,546
Part IX · Statement of functional expenses $160,525 across 6 lines filed
IX-1 Grants to domestic organizationsPrograms $109,516$109,516
IX-11c Accounting feesManagement $1,850$1,850
IX-11g Other fees for servicesPrograms $29,178$29,178
IX-12 Advertising and promotionPrograms $5,497$5,497
IX-13 Office expensesManagement $966$966
IX-24 Other expenses (24a–d)Programs $13,518$13,518
IX-25 Total functional expensesPrograms $157,709 · Management $2,816 · Fundraising $0$160,525
Part X · Balance sheet $535,936 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $24,968$292,715
X-3 Pledges and grants receivableStart of year $25,000$243,221
X-16 Total assetsStart of year $49,968$535,936
X-19 Deferred revenueStart of year $0$95,947
X-26 Total liabilitiesStart of year $0$95,947
X-27 Net assets without donor restrictionsStart of year $49,968$389,989
X-28 Net assets with donor restrictionsStart of year $0$50,000
X-32 Total net assets or fund balancesStart of year $49,968$439,989
X-33 Total liabilities and net assetsStart of year $49,968$535,936
Part XI · Reconciliation of net assets $439,989 net assets at year end
XI-1 Total revenue$550,546
XI-2 Total expenses$160,525
XI-3 Revenue less expenses$390,021
XI-4 Net assets at start of year$49,968
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$439,989

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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