PARKSTON AREA DEVELOPMENT CORPORATION (EIN 460444442) - 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

1997

Legal Domicile

Principal Officer

JAMES D BORMANN

Phone

6059287630

Tax Period

2025-01-01 to 2025-12-31

PARKSTON AREA DEVELOPMENT CORPORATION, founded in 1997, is a micro nonprofit that reported $39K in total revenue in fiscal year 2018. Revenue surged 1916% from the prior year, signaling strong growth momentum. Expenses of $36K left a modest 7% surplus.

Mission

PROVIDE ECONOMIC OPPORTUNITIES FOR THE CITY OF PARKSTON, SD

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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 (2025)

Revenue Breakdown

Contributions & Grants $27,500

Program Service Revenue $0

Investment Income $10,532

Other Revenue $2,250

TOTAL REVENUE $40,282

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $34,436

TOTAL EXPENSES $34,436

Year-over-Year Comparison

	2025	2024	Change
Revenue	$40,282	$30,620	+0.3%
Expenses	$34,436	$33,346	+0.0%
Net Income	$5,846	$-2,726	-3.1%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MIKE MAXWELL	VICE-PRESIDENT	5.00	Officer	$0	$0	$0
JAMES D BORMANN	DIRECTOR	1.00	Director	$0	$0	$0
JOLYN DOERING	TREASURER	5.00	Officer	$0	$0	$0
GREG REISER	DIRECTOR	1.00	Director	$0	$0	$0
DREW MUNTEFERING	PRESIDENT	5.00	Officer	$0	$0	$0
MELISSA STORK	DIRECTOR	1.00	Director	$0	$0	$0
PATRICK MIKKONEN	DIRECTOR	1.00	Director	$0	$0	$0
SCOTT HERR	SECRETARY	5.00	Officer	$0	$0	$0
LINDSAY WEBER	DIRECTOR	1.00	Director	$0	$0	$0
GLENN HARNISCH	DIRECTOR	1.00	Director	$0	$0	$0
LANCE THURY	DIRECTOR	1.00	Director	$0	$0	$0
KELLY HOHN	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	$40,282	$34,436	$1,969,133	$5,846
2024	No data	No data	No data	No data
2023	$79,131	$30,748	$256,551	$48,383
2022	$45,001	$29,077	$209,141	$15,924
2021	$59,254	$58,823	$198,233	$431
2020	$61,073	$33,711	$196,802	$27,362
2019	$35,000	$36,002	$161,238	$-1,002
2018	$38,793	$36,048	$139,240	$2,745

PARKSTON AREA DEVELOPMENT CORPORATION