Visit Rapid City EIN 82-1020421 Form 990 (PDF) Claim this org

Visit Rapid City FY2021 filing

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Promotes the Rapid City and Black Hills area as a visitor destination, boosting economic growth for all. For fiscal year 2021 it reported $3.4M in revenue, $2.6M in expenses, and $3.0M in net assets.Pt I

Type
Business league / trade association · Community Development
Location
Rapid City, SD
Website
www.visitrapidcity.com
Filings
5 on file (2020–2021)
Revenue
$3.4MFY2021
Expenses
$2.6M
Net assets
$3.0M
People
18
Filings
5
Updates
0
More identity details & actions ⌄
EIN  82-1020421 Business league / trade association Rapid City, SD
Form 990 (PDF)
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →
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Figures match the IRS filing checked 8/27/26 · see original: IRS
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Size
$1–10M
What they do
Promotes the Rapid City and Black Hills area as a visitor destination, boosting economic growth for all.
Leadership
Carol Bancroft · CFO & COO · $123K
Money in and out
$3.4M revenue, $2.6M expenses
Bottom line
+25% operating surplus
Membership & operating revenue · FY2021
Total revenue
$3.4M
Pt VIII · Ln 12
Total expenses
$2.6M
Pt IX · Ln 25
Net assets
$3.0M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $852K
Operating surplus
+25%
revenue over expenses
Earned revenue
90%
of revenue from program services & dues
Payroll share
36%
of spending is salaries & benefits

Summary of the Filing

Part I · fiscal year 2021 · Form 990
Revenue
$3.4M
FY2021▼ -1%
Expenses
$2.6M
FY2021▲ +1%
Total assets
$3.0M
FY2021▲ +30%
Total liabilities
$9K
FY2021▼ -95%
Total revenue
$3.4M
Pt VIII · Ln 12
Total expenses
$2.6M
Pt IX · Ln 25
Net assets
$3.0M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$852K
Total assetsPt X · Ln 16$3.0M
Program-expense ratioPt IX · col B
Voting members of governing bodyPt I · Ln 315
Independent voting membersPt I · Ln 415
Mission & Programs · Part III

Where the work happens

1 program service, described in the organization's own filed words · FY2021.
01

Facilitates marketing efforts for rapid city & the black hills across state, region, national, & world markets by providing free information to visitors and potential visitors on the area's lodging, dining, events, national and state parks, and monuments and memorials, and by providing free servicing support and sponsorship funding for…

Pt IX · col B

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CVisit Rapid City
EINHdr · item D82-1020421
Principal addressHdr · item CRapid City, SD
WebsiteHdr · item Jwww.visitrapidcity.com
Year of formationHdr · item Lpending
State of legal domicileHdr · item MSD
Exempt statusHdr · item I501(c)(6) · active
NTEE classificationIRS BMFCommunity Development (S41)
Ruling yearIRS BMFSep 2017

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a15
Independent voting membersPt VI · Ln 1b15
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$122,927Pt VII · Sec A
President & CEO - Term Sept 2021
$99,007Pt VII · Sec A
Interim Pres. & CEO - Beg Sept 2021
$94,817Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Brook Kaufman’s $227K as President is at the 74th percentile of top reported officer pay among 2834 $1–10M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Brook Kaufman$226,565$169,497$164,083
Carol Bancroft$122,927$101,338
Stacie Granum$107,618$97,009$94,817
Julie Jensen$99,007$106,900

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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Statement of Revenue

Part VIII
Program service revenue$3.1M · 90%
Contributions & grants$327K · 10%
Program service revenue90%$3.1M
Contributions & grants10%$327K
Investment income$223
Other revenue$10K
— government grantsLn 1e$327K
Total revenueLn 12$3.4M

Balance Sheet

Part X · end of year
CashLn 1$3.0M
Total assetsLn 16$3.0M
Total liabilitiesLn 26$9K
Total net assetsLn 32$3.0M
Months of cash on handcomputed13.9

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $3.0M · Operating expenses/yr $2.6M
13.9 months
Where the money goes
Program services
Program services — · Total expenses $2.6M
Management & General
Management & general — · Total expenses $2.6M
Fundraising
Fundraising — · Total expenses $2.6M
Cost to raise $1
Fundraising expense — · Solicited contributions —
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $327K · Total revenue $3.4M
10%
Government reliance
Government grants $327K · Total revenue $3.4M
10%
Earned-income share
Program service revenue $3.1M · Total revenue $3.4M
90%
Investment reliance
Investment income $223 · Total revenue $3.4M
<0.01%
Program self-sufficiency
Program service revenue $3.1M · Total expenses $2.6M
120%
Growth & trend
Revenue growth (YoY)
This year $3.4M · Prior year $3.5M
-1%
Net-asset trend (YoY)
End of year $3.0M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $3.4M · Expenses $2.6M
+25%
Liabilities-to-Assets
Total liabilities — · Total assets $3.0M
Net-asset ratio
Net assets $3.0M · Total assets $3.0M
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $3.0M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Carol Bancroft · Reported title CFO & COO · Highest reported compensation $123K · Total expenses $2.6M
5%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $928K · Total expenses $2.6M
36%
Peer comparison

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

MetricThis orgPeer medianPercentile
Fundraising cost ratio 0%
Revenue growth -1%
Legal fee ratio 2%
Accounting fee ratio 0.2%

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 · this organization's grantmaking
Grants paid · 9 grants · $516K · 2020–2024
Rapid City Sports CommissionSD · FY2023$439,300
South Dakota Department of TourismFY2023$6,000
Lakota Nation InvitationalSD · FY2022$7,600
Lakota Nation InvitationalSD · FY2021$6,000
Central States FairSD · FY2020$11,000
Lakota Nation InvitationalSD · FY2020$9,800

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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
FY2024 (Latest)$3.5M revenue · ⤓ 990 PDF
FY2023$3.5M revenue · ⤓ 990 PDF
FY2022$3.0M revenue · ⤓ 990 PDF
FY2021$3.4M revenue · viewing · ⤓ 990 PDF
FY2020$3.5M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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