Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 1981.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
93 cents of each dollar spent went to programs.
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
12 people listed on the 990.
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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 economic development and provides technical assistance for business expansion in South Dakota and surrounding areas.
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Administers the cares and lawrence county revolving loan programs. Loans were funded through a grants from the us department of commerce economic development administration and lawrence county.
To promote, encourage and advance economic and community development in western south dakota. The organization administers the regional small business administration (sba) 504 loan program.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2023 990, line by line.
Download 990
| Line | Start FY23 | End FY23 |
|---|---|---|
| Cash and savingsLn 1–2 | $1.1M | $1.2M |
| InvestmentsLn 11–13 | $103K | $106K |
| Total assetsLn 16 | $2.9M | $2.8M |
| LiabilitiesLn 26 | $187K | $81K |
| Net assetsLn 32 | $2.7M | $2.7M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Legal feesLn 11b | $500 | $500 | ||
| Accounting feesLn 11c | $19K | $19K | ||
| Other fees for servicesLn 11g | $277K | $277K | ||
| Advertising and promotionLn 12 | $927 | $927 | ||
| Office expensesLn 13 | $21K | $21K | $266 | |
| TravelLn 17 | $743 | $743 | ||
| Conferences, conventions and meetingsLn 19 | $17K | $17K | ||
| InsuranceLn 23 | $13K | $13K | ||
| Other expenses (24a–d)Ln 24 | $153K | $153K | ||
| All other expensesLn 24e | $351 | $351 | ||
| Total functional expensesLn 25 | $502K | $468K | $34K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest | $3.9M | $1.1M | $2.9M | $5.6M | 990 PDF |
| FY2024 | $600K | $600K | $75 | $2.7M | 990 PDF |
| FY2023 Viewing | $538K | $502K | $37K | $2.7M | 990 PDF |
| FY2022 | $973K | $617K | $356K | $2.7M | 990 PDF |
| FY2021 | $1.6M | $692K | $868K | $2.3M | 990 PDF |
| FY2020 | $654K | $601K | $53K | $1.5M | 990 PDF |
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Schedules filed Part IV
See the full FY2023 990 (6 parts)
Part I · Summary $538,388 revenue, 12 lines filed
Part VI · Governance 11 of 11 board members independent, 2 to look at
Part VIII · Statement of revenue $538,388 across 7 lines filed
Part IX · Statement of functional expenses $501,511 across 10 lines filed
Part X · Balance sheet $2,814,410 assets, 12 lines filed
Part XI · Reconciliation of net assets $2,733,442 net assets at year end
Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File
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