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Parkston Area Development Corporation

Not tax-deductible

Parkston, SD501(c)(6)EIN 46-0444442Revenue $40K in FY2025

On file with the IRSPo Box 772, 57366-0772 · Parkston, SDTax-exempt since Feb 1997

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Provide economic opportunities for the city of Parkston, SD

99¢ of each $1 spent went to programs.
Run by 13 volunteers.
Mission: Form 990 Part I, line 1 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
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
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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average surplus $16K a year · 30% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
117 mo
of spending, in cash
Looks good: 117.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $8K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.7M
87% of total assets
Concern: liabilities are 87% of assets; over 80%.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$40K
+32% vs prior year
Spent
$34K
To programs
99%
Net assets
$253K
By yearFY2020–FY2025
Revenue
$40K
FY2025▲ +32%
Tap a bar for its year
Revenue by fiscal year
FY2020$61K
FY2021$59K
FY2022$45K
FY2023$79K
FY2024$31K
FY2025$40K
Expenses
$34K
FY2025▲ +3%
Tap a bar for its year
Expenses by fiscal year
FY2020$34K
FY2021$59K
FY2022$29K
FY2023$31K
FY2024$33K
FY2025$34K
Net assets
$253K
FY2025▲ +2%
Tap a bar for its year
Net assets by fiscal year
FY2020$186K
FY2021$186K
FY2022$202K
FY2023$250K
FY2024$248K
FY2025$253K

From the FY2025 Form 990 · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 1997.

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

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $34K Management & general 1% · $345

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.

Part VII, Section A · reportable compensation
Mike Maxwell
Vice-President
$0Pt VII · Sec A
$0Pt VII · Sec A
Jolyn Doering
Treasurer
$0Pt VII · Sec A
Greg Reiser
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Scott Herr
Secretary
$0Pt VII · Sec A
See Parkston Area Development Corporation 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

Creates jobs and fosters business growth in Parkston, South Dakota.

Questions for Parkston Area Development Corporation

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Provided by the organization

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1 program · in their own filed words · FY2025
01

Provide economic development opportunities for the city of parkston, SD

Pt IX · col B

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2020
Avera St Benedict Health CenterFY2020$8K
Total grants receivedfrom 1 funder$8K

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$40K
Ln 12
Gifts and grantsLn 1h$28K
Investment incomeLn 3$11K
Other incomeLn 4–11$2K
Money outPt IX
$34K
Ln 25
Programscol B$34K
Managementcol C$345
Owns and owesPt X
$253K
net assets · Ln 32
Cash and savingsLn 1–2$336K
Total assetsLn 16$2.0M
LiabilitiesLn 26$1.7M
PeoplePt VI, VII
12
listed · VII A
PaidVII A0
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$28K
Investment incomeLn 3$11K
Other incomeLn 4–11$2K
Gains on assetsLn 7$8K
Total revenueLn 12$40K
Assets in detailPt X, end of year
CashLn 1$336K
Cash and savings togetherLn 1–2$336K
Land, buildings, equipmentLn 10c$1.6M
Total assetsLn 16$2.0M
LiabilitiesLn 26$1.7M
Net assetsLn 32$253K
OperationsPt I, VI
EmployeesI 50
VolunteersI 613
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 FY25End FY25
Cash and savingsLn 1–2$109K$336K
Land, buildings, equipmentLn 10c$145K$1.6M
Total assetsLn 16$254K$2.0M
LiabilitiesLn 26$6K$1.7M
Net assetsLn 32$248K$253K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$345$0$345$0
OccupancyLn 16$3K$3K$0$0
InsuranceLn 23$4K$4K$0$0
Other expenses (24a–d)Ln 24$27K$27K$0$0
Total functional expensesLn 25$34K$34K$345$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $40K$34K$6K$253K 990 PDF
FY2024 $31K$33K−$3K$248K 990 PDF
FY2023 $79K$31K$48K$250K 990 PDF
FY2022 $45K$29K$16K$202K 990 PDF
FY2021 $59K$59K$431$186K 990 PDF
FY2020 $61K$34K$27K$186K 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 FY2025 990 (6 parts)
Part I · Summary $40,282 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $27,500$27,500
I-9 Program service revenue$0
I-10 Investment incomePrior year −$130$10,532
I-11 Other revenuePrior year $3,250$2,250
I-12 Total revenuePrior year $30,620$40,282
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $33,346$34,436
I-18 Total expensesPrior year $33,346$34,436
I-19 Revenue less expensesPrior year −$2,726$5,846
Part VI · Governance 13 of 13 board members independent, 4 to look at
VI-1a Voting members of the governing body13
VI-1b Independent voting members13
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 $40,282 across 6 lines filed
Lines not itemized here account for $500 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$27,500
VIII-1h Total contributions, gifts and grants$27,500
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $0$3,032
VIII-6 Net rental income or lossRelated to mission $1,750$1,750
VIII-7 Net gain or loss on sales of assetsRelated to mission $7,500 · Unrelated business $0 · Excluded from tax $0$7,500
VIII-12 Total revenueRelated to mission $12,782 · Unrelated business $0 · Excluded from tax $0$40,282
Part IX · Statement of functional expenses $34,436 across 4 lines filed
IX-11c Accounting feesPrograms $0 · Management $345 · Fundraising $0$345
IX-16 OccupancyPrograms $2,875 · Management $0 · Fundraising $0$2,875
IX-23 InsurancePrograms $3,854 · Management $0 · Fundraising $0$3,854
IX-24 Other expenses (24a–d)Programs $27,362 · Management $0 · Fundraising $0$27,362
IX-25 Total functional expensesPrograms $34,091 · Management $345 · Fundraising $0$34,436
Part X · Balance sheet $1,969,133 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $109,256$335,714
X-10c Land, buildings and equipment, netStart of year $144,569$1,633,419
X-16 Total assetsStart of year $253,825$1,969,133
X-17 Accounts payable and accrued expensesStart of year $6,213$28,496
X-19 Deferred revenue$8,502
X-26 Total liabilitiesStart of year $6,213$1,715,675
X-27 Net assets without donor restrictionsStart of year $247,612$253,458
X-32 Total net assets or fund balancesStart of year $247,612$253,458
X-33 Total liabilities and net assetsStart of year $253,825$1,969,133
Part XI · Reconciliation of net assets $253,458 net assets at year end
XI-1 Total revenue$40,282
XI-2 Total expenses$34,436
XI-3 Revenue less expenses$5,846
XI-4 Net assets at start of year$247,612
XI-10 Net assets at end of year$253,458

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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