Nonprofit · EIN 46-0404566
SOUTH DAKOTA DEVELOPMENT CORPORATION
Also known as C-O GOVER OFFICE OF ECONOMIC DEVELO
Tax-exempt · SIOUX FALLS, SD 57104
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $717,194 | $636,472 | $80,722 | $208,539 | $298,289 | -$89,750 |
| December 31, 2024 | 990 | $505,928 | $606,128 | -$100,200 | $213,301 | $383,773 | -$170,472 |
| December 31, 2023 | 990 | $640,183 | $550,462 | $89,721 | $182,348 | $252,620 | -$70,272 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $711,391
- Investment income
- $5,972
- Net income from fundraising events
- -$169
- Other revenue
- -$169
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $109,095
- Other salaries and wages
- $171,128
- Salaries, compensation and benefits (total)
- $338,865
- Professional fundraising fees
- $0
- Legal fees
- $84,710
- Accounting fees
- $15,190
- Occupancy
- $19,368
- Travel
- $18,974
- Depreciation
- $427
- Program services (functional)
- $479,229
- Management and general (functional)
- $157,243
Balance sheet and other
- Total assets, start of year
- $213,301
- Total assets, end of year
- $208,539
- Total liabilities, end of year
- $298,289
- Net assets, end of year
- -$89,750
- Net assets without donor restrictions
- -$239,750
- Net assets with donor restrictions
- $150,000
- Gross receipts
- $736,863
- Employees
- 4
- Year formed
- 1983
- State of legal domicile
- SD
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Jennifer Oberg | Executive Dir. Officer | 40 | $109,095 |
| Eric Christianson | Director Trustee or director | 3 | $0 |
| Drew Duncan | Director Trustee or director | 3 | $0 |
| Joni Ekstrum | Vice Chairman Trustee or director, Officer | 3 | $0 |
| Nate Engbers | Director Trustee or director | 3 | $0 |
| Alex Soundy | Secretary Trustee or director, Officer | 3 | $0 |
| Brent Heinert | Treasurer Trustee or director, Officer | 3 | $0 |
| Julie Johnson | Director Trustee or director | 3 | $0 |
| Kyle Peters | Director Trustee or director | 3 | $0 |
| John Schramm | Director Trustee or director | 3 | $0 |
| Randy Snyders | Director Trustee or director | 3 | $0 |
| Luke Tibbetts | Chairman Trustee or director, Officer | 3 | $0 |
| Kevin Wagner | Director Trustee or director | 3 | $0 |
| Derek Simonsen | Director Trustee or director | 3 | $0 |
990 for the year ended December 31, 2024: 14 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JENNIFER OBERG | EXECUTIVE DIRECTOR Officer | 40 | $105,938 |
| ERIC CHRISTIANSON | DIRECTOR Trustee or director | 3 | $0 |
| DREW DUNCAN | DIRECTOR Trustee or director | 3 | $0 |
| JONI EKSTRUM | VICE CHAIRMAN Trustee or director, Officer | 3 | $0 |
| NATE ENGBERS | DIRECTOR Trustee or director | 3 | $0 |
| ALEX SOUNDY | SECRETARY Trustee or director, Officer | 3 | $0 |
| BRENT HEINERT | TREASURER Trustee or director, Officer | 3 | $0 |
| JULIE JOHNSON | DIRECTOR Trustee or director | 3 | $0 |
| KYLE PETERS | DIRECTOR Trustee or director | 3 | $0 |
| JOHN SCHRAMM | DIRECTOR Trustee or director | 3 | $0 |
| RANDY SNYDERS | DIRECTOR Trustee or director | 3 | $0 |
| LUKE TIBBETTS | CHAIRMAN Trustee or director, Officer | 3 | $0 |
| KEVIN WAGNER | DIRECTOR Trustee or director | 3 | $0 |
| DEREK SIMONSEN | DIRECTOR Trustee or director | 3 | $0 |
990 for the year ended December 31, 2023: 21 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| BRADLEY JANKORD | VP OF LENDIN Highest-paid employee | 40 | $122,144 |
| JENNIFER OBERG | EXECUTIVE DI Officer | 40 | $105,445 |
| ERIC CHRISTIANSON | DIRECTOR Trustee or director | 3 | $0 |
| DREW DUNCAN | DIRECTOR Trustee or director | 3 | $0 |
| JONI EKSTRUM | DIRECTOR Trustee or director | 3 | $0 |
| NATE ENGBERS | TREASURER Trustee or director, Officer | 3 | $0 |
| JESSE FONKERT | SECRETARY Trustee or director, Officer | 3 | $0 |
| BRENT HEINERT | DIRECTOR Trustee or director | 3 | $0 |
| JULIE JOHNSON | DIRECTOR Trustee or director | 3 | $0 |
| JEREMY KEIZER | DIRECTOR Trustee or director | 3 | $0 |
| DAN KOLBERG | DIRECTOR Trustee or director | 3 | $0 |
| MICHELLE MALONEY | DIRECTOR Trustee or director | 3 | $0 |
| DAVID MUNSON | CHAIRMAN Trustee or director, Officer | 3 | $0 |
| RUSSEL OLSON | DIRECTOR Trustee or director | 3 | $0 |
| KYLE PETERS | DIRECTOR Trustee or director | 3 | $0 |
| BROOKE ROLLAG | DIRECTOR Trustee or director | 3 | $0 |
| JOHN SCHRAMM | DIRECTOR Trustee or director | 3 | $0 |
| RANDY SNYDERS | DIRECTOR Trustee or director | 3 | $0 |
| ALEX SOUNDY | DIRECTOR Trustee or director | 3 | $0 |
| LUKE TIBBETS | VICE CHAIRMA Trustee or director, Officer | 3 | $0 |
| KEVIN WAGNER | DIRECTOR Trustee or director | 3 | $0 |
Address and contacts
- Address (IRS master file)
- 196 E 6TH ST STE 200, SIOUX FALLS, SD 57104-5955
- Principal officer (990 for 2025)
- Jennifer Oberg, 196 East 6th Street 200, Sioux Falls, SD 57104
- Signed the 990
- Jennifer Oberg, Executive Director
- Phone
- (605) 275-1504
- Return prepared by
- Kinner & Company Ltd
Mission
The principle objective of the corporation shall be to benefit the state of South Dakota by fostering increased employment opportunities and expansion of business and industry for the citizens of this state.
Program accomplishments
- South Dakota Development Corporation furthers the economic development and social welfare of the state of South Dakota by promoting and assisting the growth and development of business concerns in South Dakota, including small business.Expenses $479,229 · revenue $697,849
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 46-0404566
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2025
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S43)
- Assets (IRS master file)
- $208,539
- Income (IRS master file)
- $736,863
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $717,194 | $636,472 | $208,539 | XML |
| 990 | December 2024 | $505,928 | $606,128 | $213,301 | XML |
| 990 | December 2023 | $640,183 | $550,462 | $182,348 | XML |
| 990 | December 2022 | $433,578 | $560,859 | $115,137 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 46-0404566).
Questions about SOUTH DAKOTA DEVELOPMENT CORPORATION
- What is the EIN of SOUTH DAKOTA DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of SOUTH DAKOTA DEVELOPMENT CORPORATION is 46-0404566.
- Is SOUTH DAKOTA DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2025.
- Are donations to SOUTH DAKOTA DEVELOPMENT CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does SOUTH DAKOTA DEVELOPMENT CORPORATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of SOUTH DAKOTA DEVELOPMENT CORPORATION due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did SOUTH DAKOTA DEVELOPMENT CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of SOUTH DAKOTA DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2025 names Jennifer Oberg.
- Who are the officers and directors of SOUTH DAKOTA DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2025 lists 14 people; 1 received compensation from the organization, the highest $109,095 (Jennifer Oberg, Executive Dir.).
- How much revenue does SOUTH DAKOTA DEVELOPMENT CORPORATION have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $717,194, expenses of $636,472 and total assets of $208,539 at year end.
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All nonprofits in SIOUX FALLS · South Dakota · Community improvement and capacity building