ASSOCIATED SCHOOL BOARDS OF SOUTH … - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1977

Legal Domicile

Principal Officer

HEATH LARSON

Phone

6057732500

Tax Period

2024-07-01 to 2025-06-30

ASSOCIATED SCHOOL BOARDS OF SOUTH DAKOTA INC, founded in 1977, is a community nonprofit that reported $2.5M in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion. The organization ran a surplus of $497K, a strong 20% operating margin.

Mission

ASBSD ADVANCES PUBLIC EDUCATION BY EMPOWERING LOCAL SCHOOL BOARD LEADERS AND ADVOCATING FOR A THRIVING PUBLIC EDUCATION SYSTEM.

Program Service Accomplishments

Program 1

Expenses: $788,922 Revenue: $459,023

PROVIDE REPRESENTATIONS, AND SERVICES SUCH AS TRAINING, SEMINARS, WORKSHOPS, AND PUBLICATIONS TO SCHOOL BOARDS, AND THEIR ADMINISTRATORS, TO FACILITATE THE OPERATION AND MANAGEMENT OF SCHOOLS TO...

PROVIDE REPRESENTATIONS, AND SERVICES SUCH AS TRAINING, SEMINARS, WORKSHOPS, AND PUBLICATIONS TO SCHOOL BOARDS, AND THEIR ADMINISTRATORS, TO FACILITATE THE OPERATION AND MANAGEMENT OF SCHOOLS TO EFFECTUATE A REDUCTION IN THE BURDENS OF GOVERNMENT.

Program 2

Expenses: $319,561 Revenue: $1,531,405

ADMINISTER THE ASB WORKER'S COMPENSATION FUND RISK POOL, THE ASB HEALTH FUND RISK POOL AND THE ASB PROPERTY AND LIABILITY FUND RISK POOL FOR MEMBER SCHOOL DISTRICTS IN THE STATES OF SOUTH DAKOTA AND...

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $298,081

Program Service Revenue $1,990,428

Investment Income $108,048

Other Revenue $67,262

TOTAL REVENUE $2,463,819

Expense Breakdown

Grants Paid $0

Salaries & Benefits $984,034

Fundraising Expenses $0

Program Expenses $1,108,483

Other Expenses $983,075

TOTAL EXPENSES $1,967,109

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,463,819	$2,234,075	+0.1%
Expenses	$1,967,109	$2,123,505	-0.1%
Net Income	$496,710	$110,570	+3.5%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✓ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$316,874

Total Directors

$18,050

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HOLLY NAGEL	CHIEF FINANC	N/A	Officer	$138,500	$14,223	$152,723
HEATH LARSON	EXECUTIVE DI	40.00	Officer	$67,175	$10,494	$77,669
DOUG WERMEDAL	EXEC. DIRECT	N/A	Officer	$66,609	$10,023	$76,632
SHANE T ROTH	1ST VICE PRE	0.50	Officer Director	$0	$2,825	$2,825
GARRET BISCHOFF	PRESIDENT	0.50	Officer Director	$0	$2,575	$2,575
LOUANN KROGMAN	PAST PRESIDE	0.50	Officer Director	$0	$2,300	$2,300
LISA SNEDEKER	2ND VICE PRE	0.50	Officer Director	$0	$2,150	$2,150
DUANE ALM	DIRECTOR	0.50	Director	$0	$1,225	$1,225
ANITA PETERSON	DIRECTOR	0.50	Director	$0	$1,200	$1,200
SUSAN HUMISTON	DIRECTOR	0.50	Director	$0	$950	$950
TANYA GRAY	DIRECTOR	0.50	Director	$0	$725	$725
PAMELA HAUKAAS	DIRECTOR	0.50	Director	$0	$700	$700
JULIE SCHWADER	DIRECTOR	0.50	Director	$0	$700	$700
ERIC STROEDER	DIRECTOR	0.50	Director	$0	$625	$625
JAMIE LINDNER	DIRECTOR	0.50	Director	$0	$575	$575
MARC MURREN	DIRECTOR	0.50	Director	$0	$525	$525
ELLIE C SAXER	DIRECTOR	0.50	Director	$0	$400	$400
DAN CRONIN	DIRECTOR	0.50	Director	$0	$300	$300
JAMIE CHAPHAM	DIRECTOR	0.50	Director	$0	$200	$200
STEVE KUBIK	DIRECTOR	0.50	Director	$0	$75	$75
ALEXANDRA LUX	DIRECTOR	0.50	Director	$0	$0	$0
MARK WINEGAR	DIRECTOR	0.50	Director	$0	$0	$0
ROXANNE HEEZEN	CFO	40.00	Officer	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$2,463,819	$1,967,109	$7,081,385	$496,710
2024	$2,234,075	$2,123,505	$6,283,238	$110,570
2023	$2,268,351	$2,050,318	$5,874,852	$218,033
2022	$2,233,947	$1,901,875	$5,359,983	$332,072
2021	$2,090,632	$1,680,459	$5,403,466	$410,173
2020	$2,217,852	$1,894,545	$4,622,984	$323,307
2019	$2,136,736	$1,953,984	$4,263,008	$182,752

ASSOCIATED SCHOOL BOARDS OF SOUTH DAKOTA INC