2025-02-07T13:31:40-05:00 2024-09-30 460257538 KETEL THORSTENSON LLP PO BOX 3140 RAPID CITY SD 577093140 990 2023-10-01 460361483 ALLY DAKOTA DEVELOPMENT INC ALLY 6053475837 730 E WATERTOWN ST SUITE 102 RAPID CITY SD 57701 FRANCES WHITE EXECUTIVE DIRECTOR 6053475837 2025-02-07 true true JEANETTE SCHROEDER CPA P00479382 6053425630 2025-02-07 2023 2025-03-06 01:10:19Z X FRANCES WHITE 730 E WATERTOWN ST SUITE 102 RAPID CITY SD 57701 600263 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. 10 10 0 10 0 24600 15500 507356 571455 6432 13308 0 538388 600263 0 0 0 0 0 501511 600188 501511 600188 36877 75 2814410 2835646 80968 102129 2733442 2733517 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 GRANTS FROM THE US DEPARTMENT OF COMMERCE ECONOMIC DEVELOPMENT ADMINISTRATION AND LAWRENCE COUNTY. false false false false false false false false false false false false true false true true false false false false false false false false false false false false false false false false true false false false false false false false false false false true 4 0 0 false false false false false false false false X 10 10 false true false false false false false true true false false true true true true false true true false false X FRANCES WHITE 6053475837 730 E WATERTOWN ST SUITE 102 RAPID CITY SD 57701 X FRANCES WHITE EXECUTIVE DI 40.00 X 0 0 0 MATT WALTERS PRESIDENT 1.00 X X 0 0 0 CANDI THOMSON VICE PRESIDE 1.00 X X 0 0 0 KAYCE GERLACH SECRETARY/TR 1.00 X X 0 0 0 KEVIN DIETZ BOARD MEMBER 1.00 X 0 0 0 PETER KOTTWITZ BOARD MEMBER 1.00 X 0 0 0 KORY MENKEN BOARD MEMBER 1.00 X 0 0 0 BRAD FISCHER BOARD MEMBER 1.00 X 0 0 0 JAMES MORTENSEN BOARD MEMBER 1.00 X 0 0 0 DAWN HILGENKAMP BOARD MEMBER 1.00 X 0 0 0 DEAN KINNEY BOARD MEMBER 1.00 X 0 0 0 false false false WEST RIVER FOUNDATION FOR ECONOMIC & PO BOX 605 STURGIS SD 57785 MANAGEMENT 335012 1 9500 6000 15500 LOAN SERVICING 522291 384764 384764 LOAN CLOSING FEES 522291 109561 109561 LOAN INTEREST 522291 77130 77130 571455 13308 13308 600263 571455 13308 X 734 734 19966 19966 335065 335065 5781 5781 15419 15196 223 689 689 13298 12833 465 12243 12243 LOAN FUND ADMINISTRATION 107462 107462 FEES 48054 48054 ECONOMIC ALLIANCE EXPENSE 41477 41477 600188 560087 40101 0 42484 46284 1120834 994880 1411766 1325091 11043 10861 105702 314677 122581 143853 2814410 2835646 80968 102129 80968 102129 X 1634919 1631799 1098523 1101718 2733442 2733517 2814410 2835646 75 X false true X true true true RESTRICTED CASH 143853 143853 X 600263 600263 600263 600188 600188 600188 SCHEDULE D, PAGE 3, PART X AT SEPTEMBER 30, 2024 AND 2023, 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 143,853 AT SEPTEMBER 30, 2024. FRANCES WHITE EMPLOYEE 399096 MANAGEMENT AGREEMENT false SCHEDULE L, PART V 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. THE ORGANIZATION'S EXECUTIVE DIRECTOR IS AN EMPLOYEE OF BHSSC, AND HER WAGES ARE PAID BY BHSSC. THE MANAGEMENT AGREEMENT INCLUDES REIMBURSEMENT OF THOSE WAGES AND BENEFITS. THE TOTAL PAID UNDER THE MANAGEMENT CONTRACT DURING THE FISCAL YEAR WAS 399,096. FORM 990, PAGE 6, PART VI, LINE 3 THE ORGANIZATION CONTRACTS WITH WEST RIVER FOUNDATION, A NON-PROFIT CORPORATION, TO PROVIDE ADMINISTRATIVE SERVICES. SEE SCHEDULE L FOR DETAILS. 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 BOARD MEMBERS REVIEW AND SIGN AN ANNUAL STATEMENT DISCLOSING ANY POTENTIAL CONFLICTS. 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 OF 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 335,065 0 0