HERREID ECONOMIC DEVELOPMENT (EIN 460412223) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1990

Legal Domicile

Principal Officer

BRAD SCHUETZLE

Phone

7012263572

Tax Period

2023-07-01 to 2024-06-30

HERREID ECONOMIC DEVELOPMENT CORPORATION is a micro nonprofit in the Community Improvement sector that reported $87K in total revenue in fiscal year 2017. The organization ran a surplus of $65K, a strong 74% operating margin.

Mission

THE HERREID ECONOMIC DEVELOPMENT CORPORATION'S MISSION IS TO PROMOTE, ASSIST, ENCOURAGE AND DEVELOP THE BUSINESS AND ECONOMIC PROSPERITY IN HERREID, SOUTH DAKOTA AND THE SURROUNDING AREA. TO ENCOURAGE NEW INDUSTRIES AND TO REHABILITATE EXISTING INDUSTRIES, AND TO PROMOTE THE AGRICULTURAL AND BUSINESS DEVELOPMENT OF HERREID, SOUTH DAKOTA AND THE SURROUNDING AREA; TO SECURE GRANTS AND OTHER FUNDS IN AID OF SAID PURPOSES, AND TO PROMOTE AND PROVIDE JOBS FOR INDIVIDUALS IN HERREID, SOUTH DAKOTA.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $15,900

Investment Income $115

Other Revenue $0

TOTAL REVENUE $16,015

Expense Breakdown

Grants Paid $4,050

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $21,430

Other Expenses $17,380

TOTAL EXPENSES $21,430

Year-over-Year Comparison

	2023	2022	Change
Revenue	$16,015	$17,212	-0.1%
Expenses	$21,430	$56,248	-0.6%
Net Income	$-5,415	$-39,036	-0.9%

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
BETH FJELDHEIM	DIRECTOR	N/A	Officer	$0	$0	$0
NICOLE GOEHRING	SECRETARY	N/A	Officer	$0	$0	$0
KAYLA HUBER	PRESIDENT	N/A	Officer	$0	$0	$0
MELINDA MCNEALY	VICE PRESIDE	N/A	Officer	$0	$0	$0
HEIDI MEIDINGER	DIRECTOR	N/A	Officer	$0	$0	$0
BRAD SCHUETZLE	TREASURER	N/A	Officer	$0	$0	$0
BRADY VANDER VORST	DIRECTOR	N/A	Officer	$0	$0	$0
GARY WEISMANTEL	DIRECTOR	N/A	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	No data	No data	No data	No data
2024	$16,015	$21,430	$542,747	$-5,415
2023	$17,212	$56,248	$548,162	$-39,036
2022	$16,900	$23,438	$587,198	$-6,538
2021	$13,838	$13,245	$593,874	$593
2020	$107,848	$17,822	$593,141	$90,026
2019	$13,070	$4,505	$507,922	$8,565
2018	$86,989	$22,354	$534,341	$64,635

HERREID ECONOMIC DEVELOPMENT