2024-10-22T17:50:06-04:00 2023-12-31 460257538 KETEL THORSTENSON LLP PO BOX 3140 RAPID CITY SD 577093140 990 2023-01-01 262437901 DAKOTA LAND TRUST DAKO 6055781401 795 MAIN ST DEADWOOD SD 57732 MIKE WALKER EXECUTIVE DIRECTOR 6055781401 2024-10-22 true true JEANETTE SCHROEDER CPA P00479382 6053425630 2024-10-22 2023 2024-10-15 13:58:12Z MIKE WALKER 795 MAIN ST DEADWOOD SD 57732 57113 false X WWW.NEIGHBORWORKSDHR.ORG X 2007 SD DAKOTA LAND TRUST (DLT) IS A COMMUNITY-BASED ORGANIZATION ESTABLISHED TO CREATE AND PRESERVE A PERMANENT SUPPLY OF AFFORDABLE HOMES FOR HOUSEHOLDS OTHERWISE PRICED OUT OF THE MARKET IN THE COMMUNITIES OF WESTERN SD. 11 11 0 11 8004 485 220 0 17270 15420 12784 13415 9847 8004 40121 36839 30000 0 0 0 191 20294 21595 20294 51595 19827 -14756 661331 639434 89460 90323 571871 549111 X DAKOTA LAND TRUST (DLT) IS A COMMUNITY-BASED ORGANIZATION ESTABLISHED TO CREATE AND PRESERVE A PERMANENT SUPPLY OF AFFORDABLE HOMES FOR HOUSEHOLDS OTHERWISE PRICED OUT OF THE MARKET IN THE COMMUNITIES OF WESTERN SD. false false 31083 30000 15420 DAKOTA LAND TRUST CREATES OPPORTUNITIES AND FOSTERS STEWARDSHIP OF PERMANENTLY AFFORDABLE HOUSING FOR LOW-INCOME AND MODERATE-INCOME FAMILIES AND INDIVIDUALS. WE ARE DESIGNED TO PROVIDE VOLUNTARY ASSISTANCE FOR WORKING FAMILIES BY PROVIDING EQUITY FUNDING TO PERMANENTLY REDUCE THE COST OF HOMES FOR QUALIFIED HOMEBUYERS BY REMOVING THE LAND COST FROM THE PURCHASE PRICE. LIMITED-INCOME HOMEBUYERS WILL PURCHASE THEIR HOME AND RECEIVE A 99- YEAR GROUND LEASE TO THE LOT ON WHICH THEIR HOME SITS - A LEASE THAT IS ASSIGNABLE TO QUALIFIED HEIRS AND RENEWABLE FOR A SECOND 99- YEAR TERM. WE PLACE EQUITY LIMITATIONS INTO THE GROUND LEASE AGREEMENT THAT RESTRICT THE RESALE PRICE OF THE HOUSING IN ORDER TO MAINTAIN ITS LONG-TERM AFFORDABILITY - IN AN ATTEMPT TO BALANCE THE COMPETING GOALS OF PROVIDING A FAIR RETURN ON THE INITIAL OWNER'S HOUSING INVESTMENT, ON THE ONE HAND, WHILE ASSURING THAT THE HOUSING UNIT IS KEPT AFFORDABLE FOR THE NEXT BUYER WITHOUT REQUIRING ADDITIONAL SUBSIDY, ON THE OTHER. IN SO DOING, THE BENEFIT OF THE INVESTMENT OF PUBLIC AND PRIVATE DOLLARS NEEDED TO CREATE AFFORDABILITY IS PRESERVED FOR GENERATIONS TO COME. THROUGH THIS PROGRAM, THE QUALITY AND AFFORDABILITY OF HOUSING FOR FUTURE LOW- AND MODERATE-INCOME RESIDENTS OF THE COMMUNITIES OF WESTERN SOUTH DAKOTA IS PRESERVED. IN ADDITION, WE ADDRESS COMMUNITY DETERIORATION IN ECONOMICALLY DISADVANTAGED NEIGHBORHOODS BY PROMOTING THE DEVELOPMENT, REHABILITATION, AND MAINTENANCE OF DECENT HOUSING IN THESE NEIGHBORHOODS; BY PROMOTING ECONOMIC OPPORTUNITIES FOR LOW-INCOME RESIDENTS OF THESE NEIGHBORHOODS; BY MAKING LAND AVAILABLE FOR PROJECTS AND ACTIVITIES THAT IMPROVE THE QUALITY OF LIFE IN THESE NEIGHBORHOODS; BY ASSISTING RESIDENTS OF THESE NEIGHBORHOODS IN IMPROVING THE SAFETY AND WELL-BEING OF THEIR COMMUNITY; AND BY PROTECTING THE NATURAL ENVIRONMENT AND PROMOTING THE ECOLOGICALLY SOUND USE OF LAND AND NATURAL RESOURCES AND THE LONG-TERM HEALTH AND SAFETY OF THE COMMUNITIES OF WESTERN SOUTH DAKOTA. AT DECEMBER 31, 2023, DLT HOLDS 31 PROPERTIES. FAMILIES HAVE BEEN PLACED IN HOMES AND LAND LEASES ON 26 OF THESE PROPERTIES. INCOME FROM THESE LEASES IS CHARGED AT BELOW MARKET RATES. 31083 true false false false false false false false false false true false false false false true false true false false false false false false false false false true false false false false false false false false false false false false false false false true false false false true 1 0 0 true true false false false false false false false false false false false X 11 11 false true false false true true true true true false false true true true true true true false false false X MIKE WALKER 6055781401 795 MAIN ST DEADWOOD SD 57732 MIKE WALKER EXECUTIVE DI 3.00 37.00 X 0 80328 2938 CHUCK KING PRESIDENT 1.00 3.00 X X 0 0 0 ERIC SWANSON VICE PRESIDE 1.00 3.00 X X 0 0 0 CASEY DERFLINGER SECRETARY 1.00 3.00 X X 0 0 0 FLOYD RUMMEL III TREASURER 1.00 3.00 X X 0 0 0 ERIC FOWLER DIRECTOR 1.00 3.00 X 0 0 0 JEFF STEPHANOFF DIRECTOR 1.00 3.00 X 0 0 0 BOB BURNETT DIRECTOR 1.00 3.00 X 0 0 0 SHERRY SCUDDER DIRECTOR 1.00 3.00 X 0 0 0 MEGAN BYRUM DIRECTOR 1.00 3.00 X 0 0 0 ANGIE DALE DIRECTOR 1.00 3.00 X 0 0 0 JULIE GARDNER DIRECTOR 1.00 3.00 X 0 0 0 80328 2938 false false false LEASE INCOME 531190 15420 15420 15420 141 141 33548 20274 13274 13274 13274 HILLS PARTNERSHIP 900099 8004 8004 8004 36839 15420 8004 13415 30000 30000 15000 15000 1475 1475 2644 2644 47 24 23 904 38 866 548 367 121 60 977 654 215 108 51595 31083 20321 191 137494 59552 7121 7646 1000 482 1483 569753 516234 569753 661331 639434 7622 8485 81838 81838 89460 90323 X 571871 549111 571871 549111 661331 639434 X -14756 -8004 X false true X true false X 8000 220 8220 17641 16580 16395 17270 15420 83306 17641 24580 16395 17490 15420 91526 91526 96 11 7 65 141 320 96 11 7 65 141 320 29687 6664 10972 8847 7004 63174 47424 31255 27374 26402 22565 155020 0.59040 0.65060 0.00000 0.00000 X 569753 569753 569753 X -1165 -30000 -30000 28835 8004 8004 36839 21595 21595 30000 30000 51595 SCHEDULE D, PAGE 3, PART X AT DECEMBER 31, 2023, THE ORGANIZATION BELIEVES THERE ARE NO SIGNIFICANT UNCERTAIN TAX POSITIONS OR LIABILITIES, OR INTEREST AND PENALTIES ASSOCIATED WITH UNCERTAIN TAX POSITIONS. SCHEDULE D, PAGE 4, PART XI, LINE 2D GRANT EXPENSE CLASSED AS REVENUE -30,000 SCHEDULE D, PAGE 4, PART XI, LINE 4B HILLS PARTNERSHIP INCOME PER K-1 8,004 SCHEDULE D, PAGE 4, PART XII, LINE 4B GRANT EXPENSE CLASSED AS REVENUE 30,000 true NEIGHBORHOOD HOUSING SERVICES 795 MAIN STREET DEADWOOD SD 57732 460423151 C3 30000 PROPERTY SALE RECON 1 SCHEDULE I, PAGE 1, PART I, LINE 2 DURING CALENDAR YEAR 2023, DAKOTA LAND TRUST (DLT) SOLD PROPERTY THAT WAS TITLED UNDER NEIGHBORHOOD HOUSING SERVICES OF THE BLACK HILLS, INC (NHS). AS A RESULT OF THE SALE, IN ORDER TO PROPERLY PUT THE LAND AND CASH ON NHS BOOKS, DLT DONATED 30,000 TO NHS AND NHS RECORDED 30,000 OF DONATIONS FROM DLT. THIS WAS A UNIQUE TRANSACTION AND THE GRANT WAS ONLY CONDUCTED TO MAKE EACH ENTITY WHOLE. FORM 990, PAGE 2, PART III, LINE 4A DAKOTA LAND TRUST CREATES OPPORTUNITIES AND FOSTERS STEWARDSHIP OF PERMANENTLY AFFORDABLE HOUSING FOR LOW-INCOME AND MODERATE-INCOME FAMILIES AND INDIVIDUALS. WE ARE DESIGNED TO PROVIDE VOLUNTARY ASSISTANCE FOR WORKING FAMILIES BY PROVIDING EQUITY FUNDING TO PERMANENTLY REDUCE THE COST OF HOMES FOR QUALIFIED HOMEBUYERS BY REMOVING THE LAND COST FROM THE PURCHASE PRICE. LIMITED-INCOME HOMEBUYERS WILL PURCHASE THEIR HOME AND RECEIVE A 99- YEAR GROUND LEASE TO THE LOT ON WHICH THEIR HOME SITS - A LEASE THAT IS ASSIGNABLE TO QUALIFIED HEIRS AND RENEWABLE FOR A SECOND 99- YEAR TERM. WE PLACE EQUITY LIMITATIONS INTO THE GROUND LEASE AGREEMENT THAT RESTRICT THE RESALE PRICE OF THE HOUSING IN ORDER TO MAINTAIN ITS LONG-TERM AFFORDABILITY - IN AN ATTEMPT TO BALANCE THE COMPETING GOALS OF PROVIDING A FAIR RETURN ON THE INITIAL OWNER'S HOUSING INVESTMENT, ON THE ONE HAND, WHILE ASSURING THAT THE HOUSING UNIT IS KEPT AFFORDABLE FOR THE NEXT BUYER WITHOUT REQUIRING ADDITIONAL SUBSIDY, ON THE OTHER. IN SO DOING, THE BENEFIT OF THE INVESTMENT OF PUBLIC AND PRIVATE DOLLARS NEEDED TO CREATE AFFORDABILITY IS PRESERVED FOR GENERATIONS TO COME. THROUGH THIS PROGRAM, THE QUALITY AND AFFORDABILITY OF HOUSING FOR FUTURE LOW- AND MODERATE-INCOME RESIDENTS OF THE COMMUNITIES OF WESTERN SOUTH DAKOTA IS PRESERVED. IN ADDITION, WE ADDRESS COMMUNITY DETERIORATION IN ECONOMICALLY DISADVANTAGED NEIGHBORHOODS BY PROMOTING THE DEVELOPMENT, REHABILITATION, AND MAINTENANCE OF DECENT HOUSING IN THESE NEIGHBORHOODS; BY PROMOTING ECONOMIC OPPORTUNITIES FOR LOW-INCOME RESIDENTS OF THESE NEIGHBORHOODS; BY MAKING LAND AVAILABLE FOR PROJECTS AND ACTIVITIES THAT IMPROVE THE QUALITY OF LIFE IN THESE NEIGHBORHOODS; BY ASSISTING RESIDENTS OF THESE NEIGHBORHOODS IN IMPROVING THE SAFETY AND WELL-BEING OF THEIR COMMUNITY; AND BY PROTECTING THE NATURAL ENVIRONMENT AND PROMOTING THE ECOLOGICALLY SOUND USE OF LAND AND NATURAL RESOURCES AND THE LONG-TERM HEALTH AND SAFETY OF THE COMMUNITIES OF WESTERN SOUTH DAKOTA. AT DECEMBER 31, 2023, DLT HOLDS 31 PROPERTIES. FAMILIES HAVE BEEN PLACED IN HOMES AND LAND LEASES ON 26 OF THESE PROPERTIES. INCOME FROM THESE LEASES IS CHARGED AT BELOW MARKET RATES. FORM 990, PART VI THE ORGANIZATION HAS NO SALARIES. FORM 990, PAGE 6, PART VI, LINE 3 NEIGHBORHOOD HOUSING SERVICES OF THE BLACK HILLS, A 501(C)3 ORGANIZATION, MANAGES THE OPERATIONS OF DAKOTA LAND TRUST FREE OF CHARGE. FORM 990, PAGE 6, PART VI, LINE 6 THE ORGANIZATION HAS MEMBERS WHO ELECT MEMBERS OF THE BOARD. FORM 990, PAGE 6, PART VI, LINE 7A ALL MEMBERS CAN NOMINATE AND ELECT THE BOARD OF DIRECTORS. FORM 990, PAGE 6, PART VI, LINE 7B MEMBERS MUST APPROVE ASSESSMENT OF DUES, THE SALE OF LAND, THE ESTABLISHMENT OR ALTERATION OF THE "RESALE FORMULA," THE AMENDMENT OF ARTICLES OR BYLAWS, AND DISSOLUTION OF THE ORGANIZATION. FORM 990, PAGE 6, PART VI, LINE 11B THE FORM 990 IS PREPARED BY A LICENSED CPA. THE BOARD OF DIRECTORS REVIEWS A DRAFT COPY OF THE FORM 990 PRIOR TO BEING FILED. FORM 990, PAGE 6, PART VI, LINE 12C THE ORGANIZATION'S POLICY STATES THAT NO OFFICER, DIRECTOR, COMMITTEE, OR CORPORATE MEMBER SHALL BE PERSONALLY INTERESTED IN ANY CONTRACT RELATING TO THE OPERATIONS CONDUCTED BY THE CORPORATION, OR IN ANY LOAN OR GRANT TO BE PROVIDED BY THE ORGANIZATIONS, UNLESS SUCH CONTRACT, LOAN OR GRANT IS AUTHORIZED BY THE MAJORITY OF THE MEMBERS OF THE BOARD IN A MEETING AT WHICH PRESENCE AND VOTE OF THE INTERESTED PERSON IS NOT NECESSARY FOR ITS AUTHORIZATION. THE NATURE OF THE PERSON'S INTEREST SHALL BE FULLY DISCLOSED AND MADE KNOWN TO THE BOARD BEFORE ANY VOTE TO AUTHORIZE THE CONTRACT, LOAN OR GRANT. THE INTERESTED PARTY SHALL REFRAIN FROM VOTING. FORM 990, PAGE 6, PART VI, LINE 19 THE ORGANIZATION'S CONFLICT OF INTEREST POLICY, GOVERNING DOCUMENTS, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST THROUGH THE EXECUTIVE DIRECTOR. FORM 990, PART XI, LINE 9 GRANT EXPENSE CLASSED AS REVENUE -30,000 HILLS PARTNERSHIP INCOME PER K-1 -8,004 GRANT EXPENSE CLASSED AS REVENUE 30,000 TOTAL -8,004 NEIGHBORHOOD HOUSING SERVICES 795 MAIN STREET DEADWOOD SD 57732 460423151 HOUSING SD 3 7 N/A false HILLS PARTNERSHIP 795 MAIN ST DEADWOOD SD 57732 460438269 RENTAL R/E SD NHS UNRELATED 8008 57423 false true 0.49000 false true false false true false false false false true false false true true true false false false false