NORTHEAST SOUTH DAKOTA ECONOMIC CO… - 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

1978

Legal Domicile

Principal Officer

LORI FINNESAND

Phone

6056987654

Tax Period

2024-10-01 to 2025-09-30

NORTHEAST SOUTH DAKOTA ECONOMIC CORPORATION, founded in 1978, is a community nonprofit in the Community Improvement sector that reported $1.8M in total revenue in fiscal year 2024. The organization ran a surplus of $708K, a strong 40% operating margin.

Mission

TO STIMULATE ECONOMIC OPPORTUNITIES THROUGH LOANS, TECHNICAL SUPPORT AND PARTNERSHIPS

Program Service Accomplishments

Program 1

Expenses: $772,521 Revenue: $1,187,392

ECONOMIC/COMMUNITY DEVELOPMENT - REVOLVING LOAN PROGRAM (DIRECT LOANS) ASSISTS INDIVIDUALS THAT ARE OTHERWISE UNABLE TO OBTAIN FINANCING TO START OR EXPAND THEIR BUSINESS. IN THIS FISCAL PERIOD...

ECONOMIC/COMMUNITY DEVELOPMENT - REVOLVING LOAN PROGRAM (DIRECT LOANS) ASSISTS INDIVIDUALS THAT ARE OTHERWISE UNABLE TO OBTAIN FINANCING TO START OR EXPAND THEIR BUSINESS. IN THIS FISCAL PERIOD, NESDEC MADE 42 LOANS TOTALING 4,252,352 CREATING 114 AREA JOBS. AS OF SEPTEMBER 30,2025, NESDEC HAD 278 OUTSTANDING LOANS TOTALING 22,099,276.

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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 $390,290

Program Service Revenue $1,187,392

Investment Income $209,509

Other Revenue $0

TOTAL REVENUE $1,787,191

Expense Breakdown

Grants Paid $50,225

Salaries & Benefits $683,779

Fundraising Expenses $0

Program Expenses $772,521

Other Expenses $345,017

TOTAL EXPENSES $1,079,021

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,787,191	$1,710,583	+0.0%
Expenses	$1,079,021	$1,048,344	+0.0%
Net Income	$708,170	$662,239	+0.1%

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

N/A

Volunteers

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

$541,918

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARCIA ERICKSON	CHIEF EXECUT	10.00	Officer	$0	$31,725	$212,298
LORI FINNESAND	CHIEF EXECUT	40.00	Officer	$0	$34,430	$197,475
KATHRYN RASMUS	CHIEF FINANC	15.00	Officer	$0	$16,580	$132,145
RITA ANDERSON	DIRECTOR	1.00	Director	$0	$0	$0
JOELL BIEBER	DIRECTOR	1.00	Director	$0	$0	$0
COLLEEN CORDELL	DIRECTOR	1.00	Director	$0	$0	$0
TREVOR CRAMER	DIRECTOR	1.00	Director	$0	$0	$0
DAVID GLEASON	DIRECTOR	1.00	Director	$0	$0	$0
ROD KUSSER	DIRECTOR	1.00	Director	$0	$0	$0
MICHELE LOOBEY	DIRECTOR	1.00	Director	$0	$0	$0
DANIEL MENKING	CHAIRMAN	1.00	Officer Director	$0	$0	$0
CRAIG RAU	VICE CHAIR	1.00	Officer Director	$0	$0	$0
EMILY RODGERS	DIRECTOR	1.00	Director	$0	$0	$0
PATTY ROEHR	SECRETARY	1.00	Officer Director	$0	$0	$0
TERRY SCHULTZ	DIRECTOR	1.00	Director	$0	$0	$0
BETH SMITH	DIRECTOR	1.00	Director	$0	$0	$0
JUDY STEEN	TREASURER	1.00	Officer Director	$0	$0	$0
PAT TOLLEFSON	DIRECTOR	1.00	Director	$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	$1,787,191	$1,079,021	$32,952,419	$708,170
2024	$1,710,583	$1,048,344	$32,608,281	$662,239
2023	$1,331,875	$888,840	$31,356,241	$443,035
2022	$2,763,514	$912,959	$28,795,164	$1,850,555
2021	$1,869,407	$820,866	$27,672,437	$1,048,541
2020	$1,004,922	$730,342	$26,109,216	$274,580
2019	$1,183,215	$855,353	$25,435,882	$327,862
2018	$2,401,574	$985,752	$26,004,797	$1,415,822

NORTHEAST SOUTH DAKOTA ECONOMIC CORPORATION