Nonprofit · EIN 46-0440746
BROOKINGS ECONOMIC DEVELOPMENT CORPORATION
Also known as BEDC
Tax-exempt · BROOKINGS, SD 57006
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $861,551 | $1,186,019 | -$324,468 | $6,035,353 | $290,471 | $5,744,882 |
| December 31, 2023 | 990 | $778,346 | $960,856 | -$182,510 | $6,222,177 | $165,017 | $6,057,160 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $370,283
- of which government grants
- $251,750
- Membership dues
- $114,600
- Program service revenue
- $61,693
- Investment income
- $64,506
- Net rental income
- $108,126
- Other revenue
- $365,069
Expenses
- Grants and similar amounts paid
- $441,620
- Compensation of officers, directors and key employees
- $105,102
- Other salaries and wages
- $228,057
- Salaries, compensation and benefits (total)
- $413,310
- Professional fundraising fees
- $0
- Legal fees
- $2,129
- Accounting fees
- $25,343
- Depreciation
- $52,662
Balance sheet and other
- Total assets, start of year
- $6,222,177
- Total assets, end of year
- $6,035,353
- Total liabilities, end of year
- $290,471
- Net assets, end of year
- $5,744,882
- Land, buildings and equipment
- $1,526,151
- Publicly traded securities
- $81,748
- Net assets without donor restrictions
- $4,370,546
- Net assets with donor restrictions
- $1,374,336
- Gross receipts
- $861,551
- Employees
- 5
- Year formed
- 1995
- 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, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Tim Reed | CEO Officer | 40 | $95,419 | $9,683 |
| Daniel Scholl | Director Trustee or director | 1 | $0 | $0 |
| Spence Hawley | Director Trustee or director | 1 | $0 | $0 |
| Marcus Heemstra | Director Trustee or director | 1 | $0 | $0 |
| Don Greiner | Director Trustee or director | 1 | $0 | $0 |
| Jeremy Johnson | Director Trustee or director | 1 | $0 | $0 |
| Andy Johnson | Director Trustee or director | 1 | $0 | $0 |
| Nick Wendell | Director Trustee or director | 1 | $0 | $0 |
| Curt Lundquist | Director Trustee or director | 1 | $0 | $0 |
| Andrew Brown | Director Trustee or director | 1 | $0 | $0 |
| Steve Carnes | Director Trustee or director | 1 | $0 | $0 |
| Angela Boersma | Sec/Treas Trustee or director, Officer | 1 | $0 | $0 |
| Mike Bartley | Director Trustee or director | 1 | $0 | $0 |
| Amanda Ver Helst | Director Trustee or director | 1 | $0 | $0 |
| Tom Fishback | President Trustee or director, Officer | 1 | $0 | $0 |
2 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Victoria Blatchford | Past President Trustee or director, Officer | 1 | $0 |
| Justin Gray | Vice President Trustee or director, Officer | 1 | $0 |
990 for the year ended December 31, 2023: 17 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Tim Reed | CEO Officer | 40 | $94,123 | $9,539 |
| Sean Binker | Director Trustee or director | 1 | $0 | $0 |
| Randy Hanson | Director Trustee or director | 1 | $0 | $0 |
| Don Greiner | Director Trustee or director | 1 | $0 | $0 |
| Carla Gatzke | Director Trustee or director | 1 | $0 | $0 |
| Andy Johnson | Director Trustee or director | 1 | $0 | $0 |
| Nick Wendell | Director Trustee or director | 1 | $0 | $0 |
| Curt Lundquist | Director Trustee or director | 1 | $0 | $0 |
| Tim Harvey | Director Trustee or director | 1 | $0 | $0 |
| Steve Carnes | Director Trustee or director | 1 | $0 | $0 |
| Angela Boersma | Director Trustee or director | 1 | $0 | $0 |
| Mike Bartley | Director Trustee or director | 1 | $0 | $0 |
| Amanda Ver Helst | Director Trustee or director | 1 | $0 | $0 |
| Daniel Scholl | Past President Officer | 1 | $0 | $0 |
| Tom Fishback | Vice President Officer | 1 | $0 | $0 |
| Victoria Blatchford | President Officer | 1 | $0 | $0 |
| Justin Gray | Sec/Treasurer Officer | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 2301 RESEARCH PARKWAY STE 113, BROOKINGS, SD 57006-0000
- Signed the 990
- Tom Fishback, President
- Phone
- (605) 697-8103
- Website
- http://www.brookingsedc.com/
- Return prepared by
- Kinner & Company Ltd
Mission
Dedicated to serve the Brookings Area by enhancing the economic well-being of the City of Brookings and its surrounding areas and to improve its quality of life and prosperity.
Program accomplishments
- Enhance economic well-being of the Brookings and surrounding area.
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 | Not 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
- 46-0440746
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 1997
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $6,035,353
- Income (IRS master file)
- $861,551
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $861,551 | $1,186,019 | $6,035,353 | XML |
| 990 | December 2023 | $778,346 | $960,856 | $6,222,177 | XML |
| 990 | December 2022 | $2,897,269 | $777,366 | $6,432,125 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | 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 46-0440746).
Questions about BROOKINGS ECONOMIC DEVELOPMENT CORPORATION
- What is the EIN of BROOKINGS ECONOMIC DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of BROOKINGS ECONOMIC DEVELOPMENT CORPORATION is 46-0440746.
- Is BROOKINGS ECONOMIC DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1997.
- Are donations to BROOKINGS ECONOMIC DEVELOPMENT CORPORATION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does BROOKINGS ECONOMIC 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 BROOKINGS ECONOMIC DEVELOPMENT CORPORATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did BROOKINGS ECONOMIC DEVELOPMENT CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who are the officers and directors of BROOKINGS ECONOMIC DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2024 lists 17 people; 1 received compensation from the organization, the highest $95,419 (Tim Reed, CEO).
- How much revenue does BROOKINGS ECONOMIC DEVELOPMENT CORPORATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $861,551, expenses of $1,186,019 and total assets of $6,035,353 at year end.
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