Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 1995.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Who runs it and what they're paid
14 people listed on the 990; $149K paid to officers and key staff.
Compensation history total reportable pay by year · 4 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Christopher Clifton | $149,040 | $86,376 | — | — | — |
| Chris Schilken | — | — | — | — | $127,918 |
| Michelle Kakacek | — | — | $114,625 | $89,038 | — |
| Mark Vaux | — | — | — | $59,712 | — |
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.
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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 growth and job creation in Watertown, South Dakota.
Questions for Watertown Development Company
Your first name shows with your question. Watertown Development Company answers here, for everyone.
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The watertown development company serves to improve the overall standard of living in the community by way of stimulating economic development by assisting new and existing businesses with creation of new jobs and the retention of existing jobs.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2025 990, line by line.
Download 990
| Line | Start FY25 | End FY25 |
|---|---|---|
| Cash and savingsLn 1–2 | $3.4M | $3.5M |
| InvestmentsLn 11–13 | $108K | $107K |
| Land, buildings, equipmentLn 10c | $20.7M | $13.7M |
| Total assetsLn 16 | $30.6M | $23.1M |
| LiabilitiesLn 26 | $25.4M | $18.4M |
| Net assetsLn 32 | $5.2M | $4.7M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $44K | |||
| Pay of current officers, directors and key staffLn 5 | $176K | |||
| Other salaries and wagesLn 7 | $169K | |||
| Pension plan contributionsLn 8 | $4K | |||
| Other employee benefitsLn 9 | $22K | |||
| Payroll taxesLn 10 | $26K | |||
| Legal feesLn 11b | $117K | |||
| Accounting feesLn 11c | $129K | |||
| Other fees for servicesLn 11g | $124K | |||
| Advertising and promotionLn 12 | $64K | |||
| Office expensesLn 13 | $37K | |||
| OccupancyLn 16 | $129K | |||
| Conferences, conventions and meetingsLn 19 | $20K | |||
| InterestLn 20 | $977K | |||
| Depreciation, depletion and amortizationLn 22 | $601K | |||
| InsuranceLn 23 | $24K | |||
| Other expenses (24a–d)Ln 24 | $147K | |||
| Total functional expensesLn 25 | $2.8M | $0 | $0 | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest Viewing | $2.4M | $2.8M | −$445K | $4.7M | 990 PDF |
| FY2024 | $3.7M | $4.1M | −$397K | $5.2M | 990 PDF |
| FY2023 | $1.4M | $2.4M | −$980K | $6.2M | 990 PDF |
| FY2022 | $1.5M | $2.3M | −$759K | $7.1M | 990 PDF |
| FY2021 | $2.1M | $2.5M | −$422K | $7.9M | 990 PDF |
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Schedules filed Part IV
See the full FY2025 990 (6 parts)
Part I · Summary $2,362,893 revenue, 12 lines filed
Part VI · Governance 13 of 13 board members independent, no flags
Part VIII · Statement of revenue $2,362,893 across 8 lines filed
Part IX · Statement of functional expenses $2,807,634 across 17 lines filed
Part X · Balance sheet $23,144,113 assets, 15 lines filed
Part XI · Reconciliation of net assets $4,742,990 net assets at year end
Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File
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