2024-02-09T17:16:17-05:00 2023-09-30 460257538 KETEL THORSTENSON LLP PO BOX 3140 RAPID CITY SD 577093140 990 2022-10-01 460361483 BLACK HILLS COMMUNITY ECONOMIC DEVELOPMENT INC BLAC 6053475837 730 E WATERTOWN ST SUITE 102 RAPID CITY SD 57701 FRANCES WHITE EXECUTIVE DIRECTOR 6053475837 2024-02-09 true FRANCES WHITE 999009999 true TRACI HANSON CPA P02055725 6053425630 2024-02-09 2022 2023-04-26 12:10:37Z FRANCES WHITE 730 E WATERTOWN ST SUITE 102 RAPID CITY SD 57701 538388 false X WWW.BHCED.ORG X 1981 SD PROMOTE ECONOMIC DEVELOPMENT IN THE STATE OF SOUTH DAKOTA AND THE RAPID CITY/BLACK HILLS REGIONAL TRADE ZONE WITHIN A 200 MILE RADIUS TO INCLUDE CONTIGUOUS COUNTIES IN NEBRASKA AND WYOMING AND PROVIDE TECHNICAL ASSISTANCE TO AID IN ECONOMIC BASE EXPANSION INCLUDING THE ADMINISTRATION OF A REVOLVING LOAN PROGRAM. 11 11 0 11 0 298182 24600 673202 507356 1246 6432 0 972630 538388 0 0 0 0 0 617095 501511 617095 501511 355535 36877 2883121 2814410 186556 80968 2696565 2733442 PROMOTE ECONOMIC DEVELOPMENT IN STATE OF SOUTH DAKOTA AND THE RAPID CITY/ BLACK HILLS REGION. false false TO PROMOTE, ENCOURAGE AND ADVANCE ECONOMIC AND COMMUNITY DEVELOPMENT IN WESTERN SOUTH DAKOTA. THE ORGANIZATION ADMINISTERS THE REGIONAL SMALL BUSINESS ADMINISTRATION (SBA) 504 LOAN PROGRAM. ADMINISTERS THE CARES AND LAWRENCE COUNTY REVOLVING LOAN PROGRAMS. LOANS WERE FUNDED THROUGH A GRANTS FROM THE US DEPARTMENT OF COMMERCE ECONOMIC DEVELOPMENT ADMINISTRATION AND LAWRENCE COUNTY. false true false false false false false false false false false false false false true true false false false false false false false false false false false false false false false false false false false false false false false false false false false true 4 0 0 false false false false false false false false X 11 11 false true false false false false false true true false false true true false true false false true false false X FRANCES WHITE 6053475837 730 E WATERTOWN ST SUITE 102 RAPID CITY SD 57701 FRANCES WHITE EXECUTIVE DI 40.00 X 0 74264 7900 KEVIN DIETZ PRESIDENT 0.50 X X 0 0 0 CANDI THOMSON VICE PRESIDE 0.50 X X 0 0 0 KAYCE GERLACH SECRETARY/TR 0.50 X X 0 0 0 PETER KOTTWITZ BOARD MEMBER 0.50 X 0 0 0 KORY MENKEN BOARD MEMBER 0.50 X 0 0 0 BRAD FISCHER BOARD MEMBER 0.50 X 0 0 0 JAMES MORTENSEN BOARD MEMBER 0.50 X 0 0 0 DAWN HILGENKAMP BOARD MEMBER 0.50 X 0 0 0 MATT WALTERS BOARD MEMBER 0.50 X 0 0 0 SHERYL EISENBRAUN BOARD MEMBER 0.50 X 0 0 0 DEAN KINNEY BOARD MEMBER 0.50 X 0 0 0 74264 7900 false false false WEST RIVER FOUNDATION FOR ECONOMIC & PO BOX 605 STURGIS SD 57785 MANAGEMENT 337395 1 8550 7500 8550 24600 LOAN SERVICING 522291 366083 366083 LOAN CLOSING FEES 522291 73063 73063 LOAN INTEREST 522291 68210 68210 507356 6432 6432 538388 507356 6432 X 500 500 18564 18564 276786 276786 927 927 21236 20970 266 743 743 17074 17074 12575 12575 LOAN FUND ADMINISTRATION 80207 80207 FEES 35670 35670 ECONOMIC ALLIANCE EXPENSE 32128 32128 LOAN REVIEW 4750 4750 351 351 501511 467585 33926 0 37081 42484 1097573 1120834 1706 1512399 1411766 11314 11043 103233 105702 119815 122581 2883121 2814410 186556 80968 186556 80968 X 1603655 1634919 1092910 1098523 2696565 2733442 2883121 2814410 36877 X false true X true true true RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 538388 538388 538388 501511 501511 501511 SCHEDULE D, PAGE 3, PART X AT SEPTEMBER 30, 2023 AND 2022, THE ORGANIZATION BELIEVES THAT NO SIGNIFICANT UNCERTAIN TAX POSITIONS OR LIABILITIES EXIST. SCHEDULE D, PAGE 4, PART XIII THE ORGANIZATION IS REQUIRED TO MAINTAIN RESTRICTED CASH ACCOUNTS FOR THE REVOLVING LOAN PROGRAM FOR PROGRAM LENDING ACTIVITIES. RESTRICTED CASH FOR THIS PROGRAM TOTALED 114,481 AT SEPTEMBER 30, 2023. FORM 990, PAGE 6, PART VI, LINE 3 THE ORGANIZATION CONTRACTS WITH WEST RIVER FOUNDATION, A NON-PROFIT CORPORATION, TO PROVIDE ADMINISTRATIVE SERVICES FOR THE LAWRENCE COUNTY REVOLVING LOAN FUNDS THROUGH THE WEST RIVER BUSINESS SERVICE CENTER. THE ORGANIZATION ALSO CONTRACTS WITH WEST RIVER FOUNDATION TO PROVIDE GENERAL ADMINISTRATIVE SERVICES FOR 90 PERCENT OF CERTAIN NET REVENUES OF THE ORGANIZATION. WEST RIVER FOUNDATION, THEN CONTRACTS WITH BLACK HILLS SPECIAL SERVICES COOPERATIVE (BHSSC) FOR MANAGEMENT SERVICES. FORM 990, PAGE 6, PART VI, LINE 11B FORM 990 IS REVIEWED AND APPROVED BY THE EXECUTIVE DIRECTOR AND BOARD MEMBERS PRIOR TO FILING. FORM 990, PAGE 6, PART VI, LINE 12C ANY CONFLICTS OF INTEREST ARE REPORTED TO THE BOARD OF DIRECTORS FOR DISCUSSION AND APPROPRIATE ACTION. FORM 990, PAGE 6, PART VI, LINE 15A EXECUTIVE DIRECTOR COMPENSATION IS A COMPONENT OF THE MANAGEMENT AGREEMENT WITH WEST RIVER FOUNDATION AND IS REVIEWED ANNUALLY BY THE ENTIRE BOARD OF DIRECTORS AS PART THE BUDGETING PROCESS. FORM 990, PAGE 6, PART VI, LINE 19 DOCUMENTS ARE AVAILABLE UPON WRITTEN REQUEST. FORM 990, PART IX, LINE 11G MANAGEMENT FEE 276,786 0 0