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Timber Lake & Area Development INC FY2020 filing

Tax-deductible

Timber Lake, SD501(c)(3)Community Development EIN 36-3813692Revenue $286K in FY2020

On file with the IRSPo Box 194, 57656-0194 · Timber Lake, SDTax-exempt since Oct 2005Publicly supported charity — 170(b)(1)(A)(vi)

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Promote economic Development in rural Area.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2020 · 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
Surplus or deficit
2 of 5
filings with a surplus
Average deficit $23K a year · 8% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
12 mo
of spending, in cash
Looks good: 12.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$138K
22% of total assets
Looks good: liabilities are 22% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$286K
Spent
$255K
To programs
100%
Net assets
$500K
By yearFY2020–FY2024
Revenue
$286K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$286K
FY2021$243K
FY2022$283K
FY2023$310K
FY2024$249K
Expenses
$255K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$255K
FY2021$264K
FY2022$261K
FY2023$409K
FY2024$299K
Net assets
$500K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$500K
FY2021$480K
FY2022$499K
FY2023$401K
FY2024$351K

From the FY2020 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 2005.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $255K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation
Jace Booth
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Joe Scherer
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Kristen Gill
Vice -Presid
$0Pt VII · Sec A
Corrine Huber
Treasurer
$0Pt VII · Sec A
Kasey Maher
Secretary
$0Pt VII · Sec A
See Timber Lake & Area Development 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

Boosts economic growth in rural communities.

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Provided by the organization

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3 programs · $255K · in their own filed words · FY2020
01

Opened a community daycare facility. This facility is open to all persons and provides much needed daycare services in the area - capcity 16 children.

$119Kprogram expense
02

Purchased and renovated apartment buildings for multi-family housing within the community. There are sixteen units in the buildings.

$71Kprogram expense
03

To provide community leadership that will encourage and work for economic growth in business, industry and tourism, thereby, enhancing the quality of life in the area we serve.

$65Kprogram expense

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$286K
Ln 12
Fees for servicesLn 2g$197K
Gifts and grantsLn 1h$90K
Investment incomeLn 3$34
Money outPt IX
$255K
Ln 25
Programscol B$255K
Owns and owesPt X
$500K
net assets · Ln 32
Cash and savingsLn 1–2$256K
Total assetsLn 16$638K
LiabilitiesLn 26$138K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$90K
Government grantsLn 1e$38K
Fees for servicesLn 2g$197K
Investment incomeLn 3$34
Total revenueLn 12$286K
Assets in detailPt X, end of year
CashLn 1$256K
Cash and savings togetherLn 1–2$256K
Land, buildings, equipmentLn 10c$382K
Total assetsLn 16$638K
LiabilitiesLn 26$138K
Net assetsLn 32$500K
OperationsPt I, VI
EmployeesI 514
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 FY20End FY20
Cash and savingsLn 1–2$221K$256K
Land, buildings, equipmentLn 10c$391K$382K
Total assetsLn 16$613K$638K
LiabilitiesLn 26$144K$138K
Net assetsLn 32$469K$500K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$59K$59K
Other salaries and wagesLn 7$93K$93K
Payroll taxesLn 10$7K$7K
Management feesLn 11a$8K$8K
Accounting feesLn 11c$463$463
Other fees for servicesLn 11g$218$218
Advertising and promotionLn 12$968$968
Office expensesLn 13$318$318
OccupancyLn 16$26K$26K
InterestLn 20$2K$2K
Depreciation, depletion and amortizationLn 22$26K$26K
InsuranceLn 23$9K$9K
Other expenses (24a–d)Ln 24$20K$20K
All other expensesLn 24e$786$786
Total functional expensesLn 25$255K$255K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $249K$299K−$50K$351K 990 PDF
FY2023 $310K$409K−$99K$401K 990 PDF
FY2022 $283K$261K$22K$499K 990 PDF
FY2021 $243K$264K−$21K$480K 990 PDF
FY2020 Viewing $286K$255K$32K$500K 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 FY2020 990 (6 parts)
Part I · Summary $286,494 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $54,628$89,640
I-9 Program service revenuePrior year $206,227$196,820
I-10 Investment incomePrior year −$1,402$34
I-11 Other revenue$0
I-12 Total revenuePrior year $259,453$286,494
I-13 Grants and similar amounts paidPrior year $3,427$59,264
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $114,729$100,819
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $107,606$94,565
I-18 Total expensesPrior year $225,762$254,648
I-19 Revenue less expensesPrior year $33,691$31,846
Part VI · Governance 7 of 7 board members independent, 4 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $286,494 across 6 lines filed
VIII-1e Government grants$38,003
VIII-1f All other contributions, gifts and grants$51,637
VIII-1h Total contributions, gifts and grants$89,640
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $196,820$196,820
VIII-3 Investment incomeRelated to mission $34$34
VIII-12 Total revenueRelated to mission $196,854$286,494
Part IX · Statement of functional expenses $254,648 across 14 lines filed
IX-1 Grants to domestic organizationsPrograms $59,264$59,264
IX-7 Other salaries and wagesPrograms $93,358$93,358
IX-10 Payroll taxesPrograms $7,461$7,461
IX-11a Management feesPrograms $8,215$8,215
IX-11c Accounting feesPrograms $463$463
IX-11g Other fees for servicesPrograms $218$218
IX-12 Advertising and promotionPrograms $968$968
IX-13 Office expensesPrograms $318$318
IX-16 OccupancyPrograms $25,570$25,570
IX-20 InterestPrograms $2,353$2,353
IX-22 Depreciation, depletion and amortizationPrograms $26,441$26,441
IX-23 InsurancePrograms $8,919$8,919
IX-24 Other expenses (24a–d)Programs $20,314$20,314
IX-24e All other expensesPrograms $786$786
IX-25 Total functional expensesPrograms $254,648 · Management $0 · Fundraising $0$254,648
Part X · Balance sheet $638,436 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $221,429$256,404
X-10c Land, buildings and equipment, netStart of year $391,219$382,032
X-16 Total assetsStart of year $612,648$638,436
X-24 Unsecured notes and loans payableStart of year $136,317$129,562
X-25 Other liabilitiesStart of year $7,721$8,418
X-26 Total liabilitiesStart of year $144,038$137,980
X-27 Net assets without donor restrictionsStart of year $468,610$500,456
X-32 Total net assets or fund balancesStart of year $468,610$500,456
X-33 Total liabilities and net assetsStart of year $612,648$638,436
Part XI · Reconciliation of net assets $500,456 net assets at year end
XI-1 Total revenue$286,494
XI-2 Total expenses$254,648
XI-3 Revenue less expenses$31,846
XI-4 Net assets at start of year$468,610
XI-10 Net assets at end of year$500,456

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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