Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 1974.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Who runs it and what they're paid
17 people listed on the 990; $235K paid to officers and key staff (Part VII, Section A).
Compensation history total reportable pay by year · 2 named individuals · Part VII
| Name | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Michael Bockorny | $209,729 | $178,047 | $163,047 | $147,289 | $159,697 |
| Tim Hanigan-Chair Jan-Sep | $25,000 | — | — | — | — |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
See Aberdeen Development Corporation executive salaries →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 business development in Brown County, South Dakota, and surrounding areas.
Questions for Aberdeen Development Corporation
Your first name shows with your question. Aberdeen Development Corporation answers here, for everyone.
The Corporation focuses on recruitment of new business and retention/expansion of existing business by promoting the region through disbursement of information and the building, selling, and leasing of development sites.
Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 46-6011831) · Dispute this lineFunders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $631K | $743K |
| InvestmentsLn 11–13 | $3.3M | $2.0M |
| Land, buildings, equipmentLn 10c | $3.3M | $2.1M |
| Total assetsLn 16 | $11.5M | $10.7M |
| LiabilitiesLn 26 | $2.3M | $2.3M |
| Net assetsLn 32 | $9.2M | $8.5M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $176K | |||
| Grants to domestic individualsLn 2 | $3K | |||
| Pay of officers and key staff (Part IX, line 5)Ln 5 | $267K | |||
| Other salaries and wagesLn 7 | $157K | |||
| Pension plan contributionsLn 8 | $13K | |||
| Other employee benefitsLn 9 | $46K | |||
| Payroll taxesLn 10 | $29K | |||
| Investment management feesLn 11f | $17K | |||
| Other fees for servicesLn 11g | $178K | |||
| Advertising and promotionLn 12 | $14K | |||
| Office expensesLn 13 | $46K | |||
| OccupancyLn 16 | $42K | |||
| TravelLn 17 | $34K | |||
| Conferences, conventions and meetingsLn 19 | $9K | |||
| InterestLn 20 | $78K | |||
| Depreciation, depletion and amortizationLn 22 | $75K | |||
| InsuranceLn 23 | $20K | |||
| Other expenses (24a–d)Ln 24 | $73K | |||
| All other expensesLn 24e | $5K | |||
| Total functional expensesLn 25 | $1.3M |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest ViewingFiled with the IRS Oct 15, 2025 | $912K | $1.3M | −$372K | $8.5M | 990 PDF |
| FY2023Filed with the IRS Oct 21, 2024 | $921K | $1.7M | −$764K | $9.2M | 990 PDF |
| FY2022Filed with the IRS Aug 30, 2023 | $1.6M | $1.0M | $565K | $9.7M | 990 PDF |
| FY2021Filed with the IRS Nov 11, 2022 | $504K | $1.2M | −$665K | $9.8M | 990 PDF |
| FY2020Filed with the IRS Aug 27, 2021 | $2.5M | $1.4M | $1.2M | $10.3M | 990 PDF |
Schedules filed Part IV
See the full FY2024 990
Part I · Summary $911,814 revenue, 12 lines filed
Part VI · Governance 15 of 15 board members independent, 1 to look at
Part VIII · Statement of revenue $911,814 across 9 lines filed
Part IX · Statement of functional expenses $1,283,368 across 19 lines filed
Part X · Balance sheet $10,731,122 assets, 18 lines filed
Part XI · Reconciliation of net assets $8,470,573 net assets at year end
Form 990 e-file FY2024 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File
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