Nonprofit · EIN 51-0183368
LAKE AREA IMPROVEMENT CORPORATION
Tax-exempt · MADISON, SD 57042
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $1,881,427 | $7,990,274 | -$6,108,847 | $16,642,067 | $13,760,037 | $2,882,030 |
| December 31, 2024 | 990 | $6,862,934 | $4,137,001 | $2,725,933 | $19,954,823 | $10,963,946 | $8,990,877 |
| December 31, 2023 | 990 | $1,155,045 | $491,575 | $663,470 | $15,390,380 | $9,125,436 | $6,264,944 |
| December 31, 2021 | 990 | $1,027,116 | $400,585 | $626,531 | $11,953,132 | $7,388,522 | $4,564,610 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $1,593,202
- of which government grants
- $1,444,907
- Program service revenue
- $88,451
- Investment income
- $199,774
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $168,057
- Other salaries and wages
- $65,000
- Salaries, compensation and benefits (total)
- $260,144
- Professional fundraising fees
- $0
- Legal fees
- $1,924
- Accounting fees
- $29,592
- Occupancy
- $34,473
- Program services (functional)
- $491,911
- Management and general (functional)
- $7,486,108
- Fundraising (functional)
- $12,255
Balance sheet and other
- Total assets, start of year
- $19,954,823
- Total assets, end of year
- $16,642,067
- Total liabilities, end of year
- $13,760,037
- Net assets, end of year
- $2,882,030
- Net assets without donor restrictions
- $2,440,158
- Net assets with donor restrictions
- $441,872
- Gross receipts
- $1,881,427
- Employees
- 2
- Volunteers
- 14
- Year formed
- 2003
- 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 | Other / benefits |
|---|---|---|---|---|
| BROOKE ROLLAG | EXECUTIVE DI Officer | 40 | $154,542 | $13,515 |
| JEFF BLOOM | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ROB BUCHHOLTZ | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ED FIEGEN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DR JOSE-MARIE GRIFFITHS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MIKE JASPERS | PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| MIKE MALONE | SEC/TREASURE Trustee or director, Officer | 1 | $0 | $0 |
| DELON MORK | VICE PRESIDE Trustee or director, Officer | 1 | $0 | $0 |
| DAN ROEMEN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| FLOYD RUMMEL | PRESIDENT EL Trustee or director, Officer | 1 | $0 | $0 |
| TERRY SCHULTZ | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ERIC SINCLAIR | PAST PRESIDE Trustee or director, Officer | 1 | $0 | $0 |
| DENNIS SLAUGHTER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DUSTIN WILLIAMS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JERAE WIRE | DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2024: 16 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| BROOKE ROLLAG | EXECUTIVE DI Officer | 40 | $174,458 | $12,488 |
| JEFF BLOOM | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ED FIEGEN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DR JOSE-MARIE GRIFFITHS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MIKE JASPERS | PRESIDENT EL Trustee or director, Officer | 1 | $0 | $0 |
| MIKE MALONE | SEC/TREASURE Trustee or director, Officer | 1 | $0 | $0 |
| TAMMY MILLER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DELON MORK | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAN ROEMEN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| FLOYD RUMMEL | VICE PRESIDE Trustee or director, Officer | 1 | $0 | $0 |
| PAUL SCHULTZ | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TERRY SCHULTZ | PAST PRESIDE Trustee or director, Officer | 1 | $0 | $0 |
| ERIC SINCLAIR | PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| DENNIS SLAUGHTER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DUSTIN WILLIAMS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JERAE WIRE | DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 16 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| BROOKE ROLLAG | EXECUTIVE DI Officer | 40 | $132,000 | $10,980 |
| JEFF BLOOM | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DR JOSE-MARIE GRIFFITHS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MIKE JASPERS | PRESIDENT EL Trustee or director, Officer | 1 | $0 | $0 |
| MIKE KANE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MIKE MALONE | SEC/TREASURE Trustee or director, Officer | 1 | $0 | $0 |
| TAMMY MILLER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DELON MORK | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAN ROEMEN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| FLOYD RUMMEL | VICE PRESIDE Trustee or director, Officer | 1 | $0 | $0 |
| PAUL SCHULTZ | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TERRY SCHULTZ | PAST PRESIDE Trustee or director, Officer | 1 | $0 | $0 |
| ERIC SINCLAIR | PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| DENNIS SLAUGHTER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DUSTIN WILLIAMS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JERAE WIRE | DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2021: 15 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| BROOKE ROLLAG | EXECUTIVE DI Officer | 40 | $35,000 |
| JEFF BLOOM | DIRECTOR Trustee or director | 1 | $0 |
| DR JOSE-MARIE GRIFFITHS | DIRECTOR Trustee or director | 1 | $0 |
| MIKE JASPERS | VICE PRESIDE Trustee or director, Officer | 1 | $0 |
| MIKE MALONE | PAST PRESIDE Trustee or director, Officer | 1 | $0 |
| DELON MORK | DIRECTOR Trustee or director | 1 | $0 |
| DAN ROEMEN | DIRECTOR Trustee or director | 1 | $0 |
| FLOYD RUMMEL | SEC/TREASURE Trustee or director, Officer | 1 | $0 |
| PAUL SCHULTZ | DIRECTOR Trustee or director | 1 | $0 |
| TERRY SCHULTZ | PRESIDENT Trustee or director, Officer | 1 | $0 |
| ADAM SHAW | DIRECTOR Trustee or director | – | $0 |
| ERIC SINCLAIR | PRESIDENT EL Trustee or director, Officer | 1 | $0 |
| DENNIS SLAUGHTER | DIRECTOR Trustee or director | 1 | $0 |
| DUSTIN WILLIAMS | DIRECTOR Trustee or director | 1 | $0 |
| JERAE WIRE | DIRECTOR Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 32, MADISON, SD 57042-0032
- Principal officer (990 for 2025)
- BROOKE ROLLAG, PO BOX 32, MADISON, SD 57042
- Signed the 990
- BROOKE ROLLAG, EXECUTIVE DIRECTOR
- Phone
- (605) 256-0797
- Website
- WWW.MADISONWORKS.COM
- Return prepared by
- WOHLENBERG RITZMAN & CO LLC
Mission
TO ENHANCE THE QUALITY OF LIFE FOR ALL CITIZENS OF THE LAKE COUNTY AREA AND TO FACILITATE THE DEVELOPMENT AND RETENTION OF QUALITY JOBS THAT ARE ENVIRONMENTALLY AND ECONOMICALLY COMPATIBLE FOR LAKE COUNTY.
Program accomplishments
- IN 2025, MADISON AREA DEVELOPMENT CORPORATION (FORMERLY LAKE AREA IMPROVEMENT CORPORATION) CONTINUED ITS MISSION OF ADVANCING ECONOMIC DEVELOPMENT THROUGHOUT MADISON AND THE SURROUNDING REGION. A SIGNIFICANT MILESTONE WAS THE COMPLETION OF THE MADISON EARLY LEARNING CENTER, A 4.5 MILLION COMMUNITY INVESTMENT DEVELOPED IN PARTNERSHIP WITH EMBE TO HELP ADDRESS THE AREA'S CRITICAL CHILDCARE SHORTAGE. THE CENTER WELCOMED ITS FIRST FAMILIES AND BEGAN PROVIDING HIGH-QUALITY EARLY LEARNING OPPORTUNITIES, STRENGTHENING THE LOCAL WORKFORCE AND SUPPORTING LONG-TERM ECONOMIC GROWTH. MADC ALSO COMPLETED THE EXPANSION OF THE LAKEVIEW INDUSTRIAL PARK, ADDING APPROXIMATELY 50 ACRES OF SHOVEL-READY INDUSTRIAL LAND WITH NEW STREETS AND INFRASTRUCTURE TO SUPPORT FUTURE BUSINESS INVESTMENT AND JOB CREATION. THE ORGANIZATION ALSO INTRODUCED A NEW SOCIAL TO LEARN APPROACH TO ITS ENGLISH LANGUAGE LEARNING (ELL) PROGRAM IN PARTNERSHIP WITH THE MADISON PUBLIC LIBRARY. THIS COMMUNITY-BASED MODEL CREATES OPPORTUNITIES FOR PARTICIPANTS TO BUILD ENGLISH LANGUAGE SKILLS THROUGH CONVERSATION, RELATIONSHIP-BUILDING, AND REAL-WORLD INTERACTIONS, HELPING STRENGTHEN WORKFORCE INTEGRATION AND COMMUNITY CONNECTIONS. THE RELENDING PROGRAM CONTINUES TO PROVIDE FINANCING ASSISTANCE TO BUSINESSES, SUPPORTING BUSINESS EXPANSION, RETENTION, JOB CREATION, AND LONG-TERM ECONOMIC VITALITY THROUGHOUT THE REGION.Expenses $491,911 · revenue $88,451
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
- 51-0183368
- 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
- 1992
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S30Z)
- Assets (IRS master file)
- $16,642,067
- Income (IRS master file)
- $1,881,427
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $1,881,427 | $7,990,274 | $16,642,067 | XML |
| 990 | December 2024 | $6,862,934 | $4,137,001 | $19,954,823 | XML |
| 990 | December 2023 | $1,155,045 | $491,575 | $15,390,380 | XML |
| 990 | December 2022 | $1,415,608 | $419,270 | $13,919,557 | IRS |
| 990 | December 2021 | $1,027,116 | $400,585 | $11,953,132 | XML |
| 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 51-0183368).
Questions about LAKE AREA IMPROVEMENT CORPORATION
- What is the EIN of LAKE AREA IMPROVEMENT CORPORATION?
- The employer identification number (EIN) of LAKE AREA IMPROVEMENT CORPORATION is 51-0183368.
- Is LAKE AREA IMPROVEMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1992.
- Are donations to LAKE AREA IMPROVEMENT CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does LAKE AREA IMPROVEMENT 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 LAKE AREA IMPROVEMENT 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 LAKE AREA IMPROVEMENT 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 LAKE AREA IMPROVEMENT CORPORATION?
- The 990 for the year ended December 31, 2025 names BROOKE ROLLAG.
- Who are the officers and directors of LAKE AREA IMPROVEMENT CORPORATION?
- The 990 for the year ended December 31, 2025 lists 15 people; 1 received compensation from the organization, the highest $154,542 (BROOKE ROLLAG, EXECUTIVE DI).
- How much revenue does LAKE AREA IMPROVEMENT CORPORATION have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $1,881,427, expenses of $7,990,274 and total assets of $16,642,067 at year end.
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All nonprofits in MADISON · South Dakota · Community improvement and capacity building