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Deadwood Lead Economic Development

Not tax-deductible

Lead, SDMutual-benefit / member-servingEIN 36-3534219Revenue $184K in FY2024

On file with the IRSdeadwoodleadedc.com801 W Main St, 57754-1533 · Lead, SDTax-exempt since Aug 1989

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The organization promotes and improves the business environment in the region by being an advocate for the region, cultivating business prospects and extending loans to new and expanding businesses in the area.

93¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list 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
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $15K a year · 9% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
93%
of spending
Looks good: 93% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
20 mo
of spending, in cash
Looks good: 19.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.8M
120% of total assets
Concern: liabilities are 120% of assets; over 80%.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$184K
+5% vs prior year
Spent
$123K
To programs
93%
Net assets
−$300K
By yearFY2020–FY2024
Revenue
$184K
FY2024▲ +5%
Tap a bar for its year
Revenue by fiscal year
FY2020$150K
FY2021$201K
FY2022$181K
FY2023$176K
FY2024$184K
Expenses
$123K
FY2024▼ -23%
Tap a bar for its year
Expenses by fiscal year
FY2020$188K
FY2021$175K
FY2022$169K
FY2023$159K
FY2024$123K
Net assets
−$300K
FY2024▲ +17%
Tap a bar for its year
Net assets by fiscal year
FY2020−$398K
FY2021−$373K
FY2022−$378K
FY2023−$361K
FY2024−$300K

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 1989.

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

Where the money goes

93 cents of each dollar spent went to programs.

Program services 93% · $115K Management & general 7% · $8K

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

8 people listed on the 990.

Part VII, Section A · reportable compensation
Molly Brown
President
$0Pt VII · Sec A
Casey Derflinger
Board Member
$0Pt VII · Sec A
Sidney Goss
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Chris Roberts
Board Member
$0Pt VII · Sec A
Jim Srstka
Treasurer
$0Pt VII · Sec A
Mike Walker
Vice Preside
$0Pt VII · Sec A
Misty Winter
Board Member
$0Pt VII · Sec A
See Deadwood Lead Economic Development 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 15aYes

Programs and updates

Promotes regional business by advocating, cultivating prospects, and providing loans.

Questions for Deadwood Lead Economic Development

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Provided by the organization

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3 programs · in their own filed words · FY2024
01

The organization has encouraged new and expending businesses and individuals in the region by extending loans for improvements, expansions and purchases of businesses by entities and individuals.

Pt IX · col B
02

The organization has assisted local government in securing uses for historical structures in the region. The use of the properties helps to prevent the possible loss of the structures.

Pt IX · col B
03

The organization assists the local business community with issues which could affect the local business environment.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$184K
Ln 12
Gifts and grantsLn 1h$97K
Fees for servicesLn 2g$76K
Investment incomeLn 3$12K
Money outPt IX
$123K
Ln 25
Programscol B$115K
Managementcol C$8K
Owns and owesPt X
−$300K
net assets · Ln 32
Cash and savingsLn 1–2$203K
Total assetsLn 16$1.5M
LiabilitiesLn 26$1.8M
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$97K
Government grantsLn 1e$76K
Fees for servicesLn 2g$76K
Investment incomeLn 3$12K
Total revenueLn 12$184K
Assets in detailPt X, end of year
CashLn 1$52K
SavingsLn 2$151K
Cash and savings togetherLn 1–2$203K
Total assetsLn 16$1.5M
LiabilitiesLn 26$1.8M
Net assetsLn 32−$300K
OperationsPt I, VI
EmployeesI 51
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$394K$203K
Total assetsLn 16$1.5M$1.5M
LiabilitiesLn 26$1.9M$1.8M
Net assetsLn 32−$361K−$300K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$77K$77K
Payroll taxesLn 10$6K$6K
Legal feesLn 11b$997$997
Accounting feesLn 11c$3K$3K
Other fees for servicesLn 11g$6K$6K
Advertising and promotionLn 12$3K$3K
Office expensesLn 13$981$913$68
Information technologyLn 14$5K$5K
TravelLn 17$4K$4K
Conferences, conventions and meetingsLn 19$2K$2K
InsuranceLn 23$5K$250$5K
Other expenses (24a–d)Ln 24$12K$12K
Total functional expensesLn 25$123K$115K$8K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $184K$123K$61K−$300K 990 PDF
FY2023 $176K$159K$17K−$361K 990 PDF
FY2022 $181K$169K$12K−$378K 990 PDF
FY2021 $201K$175K$25K−$373K 990 PDF
FY2020 $150K$188K−$38K−$398K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $184,352 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $103,210$97,056
I-9 Program service revenuePrior year $72,699$75,651
I-10 Investment incomePrior year $351$11,645
I-11 Other revenue$0
I-12 Total revenuePrior year $176,260$184,352
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $71,490$82,940
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $87,971$40,159
I-18 Total expensesPrior year $159,461$123,099
I-19 Revenue less expensesPrior year $16,799$61,253
Part VI · Governance 9 of 9 board members independent, 3 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $184,352 across 7 lines filed
VIII-1b Membership dues$16,350
VIII-1e Government grants$76,000
VIII-1f All other contributions, gifts and grants$4,706
VIII-1h Total contributions, gifts and grants$97,056
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $75,651$75,651
VIII-3 Investment incomeRelated to mission $11,645$11,645
VIII-12 Total revenueRelated to mission $87,296$184,352
Part IX · Statement of functional expenses $123,099 across 12 lines filed
IX-7 Other salaries and wagesPrograms $77,000$77,000
IX-10 Payroll taxesPrograms $5,940$5,940
IX-11b Legal feesManagement $997$997
IX-11c Accounting feesManagement $2,833$2,833
IX-11g Other fees for servicesPrograms $6,021$6,021
IX-12 Advertising and promotionPrograms $2,587$2,587
IX-13 Office expensesPrograms $913 · Management $68$981
IX-14 Information technologyPrograms $4,756$4,756
IX-17 TravelPrograms $3,659$3,659
IX-19 Conferences, conventions and meetingsPrograms $1,719$1,719
IX-23 InsurancePrograms $250 · Management $4,581$4,831
IX-24 Other expenses (24a–d)Programs $11,775$11,775
IX-25 Total functional expensesPrograms $114,620 · Management $8,479 · Fundraising $0$123,099
Part X · Balance sheet $1,465,281 assets, 9 lines filed
Asset lines not itemized here account for $1,259,669; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $328,324$52,267
X-2 Savings and temporary cash investmentsStart of year $65,512$150,685
X-9 Prepaid expenses and deferred chargesStart of year $2,660$2,660
X-16 Total assetsStart of year $1,541,746$1,465,281
X-17 Accounts payable and accrued expensesStart of year $9,435$8,480
X-26 Total liabilitiesStart of year $1,902,882$1,764,996
X-27 Net assets without donor restrictionsStart of year −$361,136−$299,715
X-32 Total net assets or fund balancesStart of year −$361,136−$299,715
X-33 Total liabilities and net assetsStart of year $1,541,746$1,465,281
Part XI · Reconciliation of net assets −$299,715 net assets at year end
XI-1 Total revenue$184,352
XI-2 Total expenses$123,099
XI-3 Revenue less expenses$61,253
XI-4 Net assets at start of year−$361,136
XI-9 Other changes in net assets$168
XI-10 Net assets at end of year−$299,715

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

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