2026-02-27T14:35:24-05:00 2025-09-30 460257538 KETEL THORSTENSON LLP PO BOX 3140 RAPID CITY SD 577093140 990 2024-10-01 460361483 ALLY DAKOTA DEVELOPMENT INC ALLY 6053475837 730 E WATERTOWN ST SUITE 102 RAPID CITY SD 57701 FRANCES WHITE EXECUTIVE DIRECTOR 6053475837 2026-02-27 true true JEANETTE SCHROEDER CPA P00479382 6053425630 2026-02-27 2024 2025-03-06 01:10:19Z FRANCES WHITE 730 E WATERTOWN ST SUITE 102 RAPID CITY SD 57701 3918457 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. 13 13 0 13 0 15500 2840794 571455 996428 13308 81223 12 600263 3918457 5000 0 0 0 0 600188 1062966 600188 1067966 75 2850491 2835646 5970242 102129 386233 2733517 5584009 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 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 true false false false false false false false true 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 6 0 0 false false false false false false false false X 13 13 false true true 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 BEN HANSON VICE PRESIDE 1.00 X X 0 0 0 KAYCE GERLACH SECRETARY/TR 1.00 X X 0 0 0 BOBBIE BOHLEN BOARD MEMBER 1.00 X 0 0 0 CANDI THOMSON BOARD MEMBER 1.00 X 0 0 0 JAMES MORTENSEN BOARD MEMBER 1.00 X 0 0 0 JESSICA FALKEN BOARD MEMBER 1.00 X 0 0 0 KEVIN DIETZ BOARD MEMBER 1.00 X 0 0 0 KORY MENKEN BOARD MEMBER 1.00 X 0 0 0 PAUL MOORE BOARD MEMBER 1.00 X 0 0 0 PETER KOTTWITZ BOARD MEMBER 1.00 X 0 0 0 SPENCER WHITE BOARD MEMBER 1.00 X 0 0 0 TIM WALTER BOARD MEMBER 1.00 X 0 0 0 false false false WEST RIVER FOUNDATION FOR ECONOMIC & PO BOX 605 STURGIS SD 57785 MANAGEMENT 408180 1 2500 2838294 2840794 LOAN SERVICING 522291 658788 658788 LOAN CLOSING FEES 522291 204754 204754 LOAN INTEREST 522291 132886 132886 996428 79923 79923 1300 1300 1300 1300 MISCELLANEOUS INCOME 900099 12 12 12 3918457 996428 81235 X 5000 5000 9081 9081 35174 35174 588029 577059 10970 27022 27022 32860 31418 1442 14534 14534 15921 15296 625 1774 1774 1000 1000 17801 17801 LOAN FUND ADMINISTRATION 192010 192010 FEES 82591 82591 ECONOMIC ALLIANCE EXPENSE 45169 45169 1067966 948543 119423 0 46284 228439 994880 2389666 1325091 1671885 10861 12326 4984 1000 3984 314677 1064677 143853 599265 2835646 5970242 102129 182708 203525 102129 386233 X 1631799 4488477 1101718 1095532 2733517 5584009 2835646 5970242 X 2850491 1 X false true X true true true RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4984 1000 3984 3984 RESTRICTED CASH 577806 INTEREST RECEIVABLE 21459 599265 X 3918458 3918458 -1 -1 3918457 1067966 1067966 1067966 SCHEDULE D, PAGE 3, PART X AT SEPTEMBER 30, 2025 AND 2024, THE ORGANIZATION BELIEVES THAT NO SIGNIFICANT UNCERTAIN TAX POSITIONS OR LIABILITIES EXIST. SCHEDULE D, PAGE 4, PART XI, LINE 4B ROUNDING -1 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 319,130 AT SEPTEMBER 30, 2025. RESTRICTED CASH ALSO INCLUDES DEBT PROCEEDS TOTALING 258,676 AT SEPTEMBER 20, 2025 THAT ARE NOT CURRENTLY BEING UTILIZED IN THE REVOLVING LOAN PROGRAM. FRANCES WHITE EMPLOYEE 657422 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 657,422. FORM 990 ON DECEMBER 1, 2024, ALLY DAKOTA DEVELOPMENT, INC. MERGED WITH FIRST DISTRICT DEVELOPMENT COMPANY (FDDC), A 501C(3) NONPROFIT ORGANIZATION IN WATERTOWN, SOUTH DAKOTA. FDDC PROVIDES ASSISTANCE AND CONSULTATION TO LOAN APPLICANTS AND SPECIALIZES IN OFFERING COMMERCIAL LOANS TO ASSIST IN GROWING BUSINESSES THROUGH FAVORABLE INTEREST RATES AND LOW DOWN PAYMENTS. THE MERGER WAS APPROVED BY THE SMALL BUSINESS ADMINISTRATION AND THE UNITED STATES DEPARTMENT OF AGRICULTURE RURAL DEVELOPMENT SOUTH DAKOTA. THE MERGER LEVERAGES THE RESOURCES, NETWORKS, AND KNOWLEDGE OF BOTH ENTITIES AND RESULTS IN THE ONLY CERTIFIED DEVELOPMENT COMPANY IN SOUTH DAKOTA WITH A PRESENCE ON BOTH SIDES OF THE STATE. AS A RESULT OF THE MERGER, THE BOARD OF DIRECTORS WAS RECONSTITUTED TO INCLUDE MEMBERS OF BOTH ENTITIES, AND ALLY DAKOTA DEVELOPMENT, INC. WAS DEEMED TO BE THE SURVIVING ENTITY AND ACCOUNTING ACQUIRER. 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 4 THE ORGANIZATION MERGED WITH FIRST DISTRICT DEVELOPMENT COMPANY (FDDC), A 501C(3) NONPROFIT ORGANIZATION IN WATERTOWN, SOUTH DAKOTA. SEE SCHEDULE O FOR ADDITIONAL 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 577,059 0 0 OTHER PROFESSIONAL FEES 0 10,970 0 TOTAL 577,059 10,970 0 FORM 990, PART XI, LINE 9 ROUNDING 1