BLACK HILLS WORKS INC

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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

1958

Legal Domicile

Principal Officer

BRADLEY SAATHOFF

Phone

6053434550

Tax Period

2023-07-01 to 2024-06-30

BLACK HILLS WORKS INC, founded in 1958, is a mid-sized nonprofit in the Employment sector that reported $49.4M in total revenue in fiscal year 2023. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $44.9M left a modest 9% surplus.

Mission

CREATING A COMMUNITY WHERE EVERYONE PARTICIPATES TO ACHIEVE A LIFE OF FULL POTENTIAL.

Program Service Accomplishments

Program 1

Expenses: $38,463,173 Revenue: $48,106,060

FOR OVER SIX DECADES, BLACK HILLS WORKS HAS PROVIDED HOMES, EMPLOYMENT, RECREATION, AND SOCIAL OUTLETS FOR ADULTS WITH DISABILITIES. TODAY, WE SUPPORT ALMOST 600 PEOPLE WITH A WIDE ARRAY OF...

FOR OVER SIX DECADES, BLACK HILLS WORKS HAS PROVIDED HOMES, EMPLOYMENT, RECREATION, AND SOCIAL OUTLETS FOR ADULTS WITH DISABILITIES. TODAY, WE SUPPORT ALMOST 600 PEOPLE WITH A WIDE ARRAY OF DISABILITIES, CREATING A COMMUNITY WHERE EVERYONE PARTICIPATES TO ACHIEVE A LIFE OF FULL POTENTIAL.ABOVE ALL, BLACK HILLS WORKS IS A PERSON-CENTERED AGENCY. WE PUT THE PEOPLE WE SUPPORT AT THE CENTER OF OUR AGENCY AND THE DECISIONS AND PLANNING THAT IMPACT THEIR LIVES. TO HELP PEOPLE SELF-DIRECT THEIR LIVES, WE PROVIDE EDUCATION, EXPOSURE, AND EXPERIENCES SO THAT THEY CAN DETERMINE THEIR OWN GOALS, AND PROVIDE THE SUPPORTS THEY NEED TO ACHIEVE THEIR DREAMS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $1,037,012

Program Service Revenue $47,659,531

Investment Income $183,847

Other Revenue $527,021

TOTAL REVENUE $49,407,411

Expense Breakdown

Grants Paid $0

Salaries & Benefits $36,591,691

Fundraising Expenses $516,573

Program Expenses $38,463,173

Other Expenses $8,279,195

TOTAL EXPENSES $44,870,886

Year-over-Year Comparison

	2023	2022	Change
Revenue	$49,407,411	$43,585,383	+0.1%
Expenses	$44,870,886	$40,203,556	+0.1%
Net Income	$4,536,525	$3,381,827	+0.3%

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

1049

Volunteers

335

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

$458,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DEAN AURAND	BOARD PRESIDENT	0.50	Officer Director	$0	$0	$0
JESS PEKARSKI	BOARD VICE PRESIDENT	0.50	Officer Director	$0	$0	$0
JACQUELINE SLY	BOARD SECRETARY/TREASURER	0.50	Officer Director	$0	$0	$0
BRAD BLAUVELT	BOARD MEMBER	0.50	Director	$0	$0	$0
KELLY STACY	BOARD MEMBER	0.50	Director	$0	$0	$0
EVAN NESTORE	BOARD MEMBER	0.50	Director	$0	$0	$0
ERIC CHRISTIANSON	BOARD MEMBER	0.50	Director	$0	$0	$0
GREG HANSEN	BOARD MEMBER	0.50	Director	$0	$0	$0
BRAD HAUPT	BOARD MEMBER	0.50	Director	$0	$0	$0
TAMMY SCHREIBER	BOARD MEMBER	0.50	Director	$0	$0	$0
JACK JENSEN	BOARD MEMBER	0.50	Director	$0	$0	$0
HALEY MOLINE SOMMER	BOARD MEMBER	0.50	Director	$0	$0	$0
BRADLEY SAATHOFF	CEO	1.00	Officer	$275,016	$37,902	$312,918
MARY DUNCAN	CFO	1.00	Officer	$129,370	$15,712	$145,082
MICHELLE AMAN	VP OF RESIDENTIAL SERVICES	40.00	Highest	$111,437	$6,569	$118,006
TARA BLASIUS	VP OF VOCATIONAL SERVICES	40.00	Highest	$105,026	$23,636	$128,662
ANDREA SERNA	FOUNDATION PRESIDENT	40.00	Highest	$149,666	$6,412	$156,078

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	No data	No data	No data	No data
2024	$49,407,411	$44,870,886	$23,635,251	$4,536,525
2023	$43,585,383	$40,203,556	$21,756,077	$3,381,827
2022	$31,445,606	$34,360,184	$22,578,935	$-2,914,578
2021	$36,058,984	$32,543,761	$18,443,225	$3,515,223
2020	$25,482,307	$25,987,030	$16,726,519	$-504,723
2019	$25,381,599	$25,417,734	$12,716,661	$-36,135