Webster Area Development Corporation INC EIN 46-0437892 Form 990 (PDF) Claim this org

Webster Area Development Corporation INC

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Develops and promotes economic activities in Day County. For fiscal year 2025 it reported $260K in revenue, $197K in expenses, and $2.4M in net assets.Pt I

Type
Public charity (501(c)(3)) · Community Development
Location
Webster, SD
Filings
6 on file (2020–2025)
Revenue
$260KFY2025
Expenses
$197K
Net assets
$2.4M
People
9
Filings
6
Updates
0
More identity details & actions ⌄
EIN  46-0437892 Public charity (501(c)(3)) Webster, SD
Form 990 (PDF)
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Size
$100K–1M
What they do
Develops and promotes economic activities in Day County.
Leadership
Kevin Duenwald · Director
Money in and out
$260K revenue, $197K expenses
Bottom line
100% program efficiency
Where the money goes · FY2025
Total revenue
$260K
Pt VIII · Ln 12
Total expenses
$197K
Pt IX · Ln 25
Net assets
$2.4M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $63K
Where spending went · Part IX cols B–D
Program services $1.00
Program efficiency
100%
of spending reaches programs0% vs prior filing year
Operating runway
17.1mo
months of highly liquid reserves at operating expense rate▼ -30% vs prior filing year
Surplus margin
+24%
revenue over expenses, this year▲ +159% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Revenue
$260K
FY2025▲ +138%
Expenses
$197K
FY2025▲ +28%
Total assets
$3.2M
FY2025▲ +9%
Total liabilities
$799K
FY2025▲ +33%
Total revenue
$260K
Pt VIII · Ln 12
Total expenses
$197K
Pt IX · Ln 25
Net assets
$2.4M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$63K
Total assetsPt X · Ln 16$3.2M
Program-expense ratioPt IX · col B100%
Voting members of governing bodyPt I · Ln 39
Independent voting membersPt I · Ln 49

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CWebster Area Development Corporation INC
EINHdr · item D46-0437892
Principal addressHdr · item CWebster, SD
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MSD
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFCommunity Development (S30)
Ruling yearIRS BMFDec 1995

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a9
Independent voting membersPt VI · Ln 1b9
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
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Mission & Programs · Part III

Where the work happens

1 program service, described in the organization's own filed words · FY2025.
01

Promote and develop economic activities in day county

Pt IX · col B

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Statement of Revenue

Part VIII
Contributions & grants$146K · 56%
Investment income$62K · 24%
Program service revenue$52K · 20%
Contributions & grants56%$146K
Investment income24%$62K
Program service revenue20%$52K
— government grantsLn 1e$42K
Total revenueLn 12$260K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $1.00
Program services100%$197K
Total functional expensesLn 25$197K

Balance Sheet

Part X · end of year
CashLn 1$261K
Total assetsLn 16$3.2M
Total liabilitiesLn 26$799K
Total net assetsLn 32$2.4M
Months of cash on handcomputed15.9

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $261K · Operating expenses (Pt IX) $197K · Less non-cash grants $13K · Cash operating expenses/yr $183K
17.1 months
Where the money goes
Program services
Program services $197K · Total expenses $197K
100%
Management & General
Management & general $0 · Total expenses $197K
0%
Fundraising
Fundraising $0 · Total expenses $197K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $277K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $146K · Total revenue $260K
56%
Government reliance
Government grants $42K · Total revenue $260K
16%
Earned-income share
Program service revenue $52K · Total revenue $260K
20%
Investment reliance
Investment income $62K · Total revenue $260K
+24%
Program self-sufficiency
Program service revenue $52K · Total expenses $197K
26%
Growth & trend
Revenue growth (YoY)
This year $260K · Prior year $109K
+138%
Net-asset trend (YoY)
End of year $2.4M · Beginning of year $2.3M
+3%
Balance sheet
Surplus Margin
Revenue $260K · Expenses $197K
+24%
Liabilities-to-Assets
Total liabilities $799K · Total assets $3.2M
25%
Net-asset ratio
Net assets $2.4M · Total assets $3.2M
75%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $3.2M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Kevin Duenwald · Reported title DIRECTOR · Highest reported compensation $0 · Total expenses $197K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $19K · Total expenses $197K
10%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 100%
Overhead ratio 0%
Fundraising cost ratio 0%
Revenue growth 138%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2023
Total grants receivedfrom 2 funders$10K

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$260K revenue · viewing · ⤓ 990 PDF
FY2024$109K revenue · ⤓ 990 PDF
FY2023$821K revenue · ⤓ 990 PDF
FY2022$80K revenue · ⤓ 990 PDF
FY2021$195K revenue · ⤓ 990 PDF
FY2020$-125K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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