BLACK HILLS WORKS FOUNDATION 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

1982

Legal Domicile

Principal Officer

ANDREA SERNA

Phone

6057186201

Tax Period

2024-01-01 to 2024-12-31

BLACK HILLS WORKS FOUNDATION INC, founded in 1982, is a community nonprofit in the Employment sector that reported $3.0M in total revenue in fiscal year 2024. Revenue grew 8% year-over-year, indicating healthy expansion. Expenses of $2.7M left a modest 7% surplus.

Mission

THE BLACK HILLS WORKS FOUNDATION, INC. IS COMMITTED TO ENRICHING THE LIVES OF PEOPLE WITH INTELLECTUAL AND DEVELOPMENTAL DISABILITIES NOW AND INTO THE FUTURE. THIS IS ACCOMPLISHED THROUGH RESOURCE DEVELOPMENT, CREATING AWARENESS, PROVIDING ADVOCACY, ENGAGING SUPPORTERS, AND MANAGING ASSETS TO SUPPORT THEIR IMMEDIATE AND LONG-TERM NEEDS.

Program Service Accomplishments

Program 1

Expenses: $1,917,815 Revenue: $519,085

BLACK HILLS WORKS FOUNDATION, INC. SECURED RESOURCES THAT SUPPORTED THE NEEDS OF MORE THAN 480 ADULTS WITH INTELLECTUAL AND DEVELOPMENTAL DISABILITIES. RESOURCES WERE SECURED THROUGH COMMUNITY...

BLACK HILLS WORKS FOUNDATION, INC. SECURED RESOURCES THAT SUPPORTED THE NEEDS OF MORE THAN 480 ADULTS WITH INTELLECTUAL AND DEVELOPMENTAL DISABILITIES. RESOURCES WERE SECURED THROUGH COMMUNITY DONATIONS, GRANT INCOME, SPONSORSHIPS, FUNDRAISING EVENTS, IN-KIND GIFTS, AND SECURITIES AND INTEREST. IN 2024, THESE RESOURCES HELPED FULFILL 1,000 REQUESTS FROM 482 INDIVIDUALS, BASED ON FINANCIAL NEED. THIS INCLUDED REQUESTS TO MEET INDIVIDUAL GOALS AND TO PROVIDE ITEMS VITAL TO PARTICIPANTS' QUALITY OF LIFE, INCLUDING GROCERIES, HYGIENE AND INCONTINENCE PRODUCTS, MEDICAL CO-PAYS, RENT ABATEMENT, TRANSPORTATION, EMPLOYMENT SUPPORTS, WELLNESS ACTIVITIES, COMMUNITY-BASED RECREATION INCLUSION OPPORTUNITIES, AND ARTS EXPRESSION. HOUSING WAS ALSO PROVIDED FOR MORE THAN 60 PEOPLE THROUGH AFFORDABLE HOUSING OPTIONS OWNED AND OPERATED BY THE FOUNDATION, AS WELL AS INVESTMENT IN NEW HOUSING TO SUPPORT THE NEEDS OF FUTURE RESIDENTS. PARTICIPANT STORIES OF ACHIEVEMENTS AND ACTIVITIES WERE SHARED THROUGH SOCIAL MEDIA, PRESENTATIONS, AND EVENTS, INCLUDING THE 24 INDIVIDUALS CELEBRATED AT THE FOUNDATION'S ANNUAL FUNDRAISING GALA. MORE INFORMATION ABOUT THE FOUNDATION AND ITS SUPPORT OF ADULTS WITH INTELLECTUAL AND DEVELOPMENTAL DISABILITIES CAN BE FOUND AT HTTPS://WWW.BLACKHILLSWORKS.ORG/GET-INVOLVED/FOUNDATION/.

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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 $1,131,254

Program Service Revenue $514,602

Investment Income $1,269,681

Other Revenue $35,748

TOTAL REVENUE $2,951,285

Expense Breakdown

Grants Paid $892,231

Salaries & Benefits $0

Fundraising Expenses $656,451

Program Expenses $1,917,815

Other Expenses $1,840,840

TOTAL EXPENSES $2,733,071

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,951,285	$2,721,495	+0.1%
Expenses	$2,733,071	$3,127,036	-0.1%
Net Income	$218,214	$-405,541	-1.5%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRAD SAATHOFF	BOARD TREASURER	5.00	Officer Director	$0	$0	$0
ERIC CHRISTIANSON	LIAISON	1.00	Director	$0	$0	$0
CHRIS LONG	BOARD MEMBER	1.00	Director	$0	$0	$0
GREG ROBINSON	BOARD MEMBER	1.00	Director	$0	$0	$0
LORI BURMEISTER	BOARD MEMBER	1.00	Director	$0	$0	$0
STEPHANIE DOWLING	BOARD SECRETARY	1.00	Officer Director	$0	$0	$0
INGRID REUTER	BOARD MEMBER	1.00	Director	$0	$0	$0
CHRIS KARN	BOARD PRESIDENT	1.00	Officer Director	$0	$0	$0
CURTIS FISCHER	BOARD MEMBER	1.00	Director	$0	$0	$0
BOB HEIBULT	BOARD MEMBER	1.00	Director	$0	$0	$0
CORTNEY FICKEN	BOARD VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
KEVIN DIETZ	BOARD MEMBER	1.00	Director	$0	$0	$0
NICOLE HEDRICK	BOARD MEMBER	1.00	Director	$0	$0	$0
BRAD BLAUVELT	LIAISON	1.00	Director	$0	$0	$0
GREG HANSEN	LIAISON	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	No data	No data	No data	No data
2024	$2,951,285	$2,733,071	$35,758,794	$218,214
2023	$2,721,495	$3,127,036	$33,851,475	$-405,541
2022	$2,683,739	$2,471,489	$31,286,007	$212,250
2021	$2,572,719	$2,036,832	$35,552,118	$535,887
2020	$2,237,945	$1,986,228	$32,106,123	$251,717
2019	$2,049,720	$2,538,429	$29,743,730	$-488,709
2018	$5,220,353	$2,460,757	$29,521,570	$2,759,596