HERREID ECONOMIC DEVELOPMENT

EIN: 460412223 Community Improvement

HERREID, SD

Total Revenue
$16,015
Total Expenses
$21,430
Total Assets
$542,747
Net Assets
$542,747
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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
1990
Legal Domicile
SD
Principal Officer
BRAD SCHUETZLE
Phone
7012263572
Tax Period
2023-07-01 to 2024-06-30

HERREID ECONOMIC DEVELOPMENT, founded in 1990, is a micro nonprofit in the Community Improvement sector that reported $16K in total revenue in fiscal year 2023. Revenue decreased 7% compared to the prior year. Expenses of $21K exceeded revenue, resulting in a 34% operating deficit.

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.

Program Service Accomplishments

Program 1
Expenses: $21,430 Revenue: $15,900

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...

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

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

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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

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Governance

Voting Members
8
Independent Members
8
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
8
$0
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
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
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