GROW SOUTH DAKOTA

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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

2007

Legal Domicile

Principal Officer

LORI FINNESAND

Phone

6056987654

Tax Period

2023-07-01 to 2024-06-30

GROW SOUTH DAKOTA, founded in 2007, is a community nonprofit in the Community Improvement sector that reported $10.0M in total revenue in fiscal year 2023. Revenue surged 221% from the prior year, signaling strong growth momentum. The organization ran a surplus of $7.1M, a strong 71% operating margin.

Mission

GROW SOUTH DAKOTA IS A NONPROFIT CORPORATION WHOSE PRIMARY OBJECTIVE IS TO PROMOTE AND FOSTER ECONOMIC GROWTH, HOUSING DEVELOPMENT, AND EDUCATIONAL OPPORTUNITIES IN DISTRESSED COMMUNITIES AND UNDERSERVED MARKETS IN SOUTH DAKOTA.

Program Service Accomplishments

Program 1

Expenses: $714,626 Revenue: $424,861

NEW MARKET TAX CREDIT PROGRAM: GROW SOUTH DAKOTA OWNS AND LEASES TWO SCHOOL BUILDINGS TO OGLALA LAKOTA SCHOOL DISTRICT THROUGH THE YEAR.

Program 2

Expenses: $1,389,009 Revenue: $236,172

HOUSING: GROW SOUTH DAKOTA OWNS A 60 UNIT HUD PROPERTY IN MILBANK, SOUTH DAKOTA. THE PROJECT IS CURRENTLY MANAGED BY MILLS PROPERTY MANAGEMENT AND CONSISTS OF 30 ONE-BEDROOM ELDERLY UNITS AND 30...

HOUSING: GROW SOUTH DAKOTA OWNS A 60 UNIT HUD PROPERTY IN MILBANK, SOUTH DAKOTA. THE PROJECT IS CURRENTLY MANAGED BY MILLS PROPERTY MANAGEMENT AND CONSISTS OF 30 ONE-BEDROOM ELDERLY UNITS AND 30 FAMILY TWO- AND THREE- BEDROOM UNITS IN TOWN HOUSE STRUCTURES. THE ORGANIZATION MADE 208 ON- BALANCE SHEET HOUSING LOANS TOTALING 3,628,213. THE ORGANIZATION ALSO ASSISTED 81 HOME OWNERS WITH HOUSING REHAB ON EXISTING PROPERTY THAT TOTALED 984,804 IN REPAIRS.

Program 3

Expenses: $576,531 Revenue: $775,378

BUSINESS REVOLVING LOAN FUNDS: IN FY2024, GROW SOUTH DAKOTA MADE 23 BUSINESS LOANS TOTALING 6,559,750 CREATING OR RETAINING 75 JOBS THROUGH THE REVOLVING LOAN FUND. THE ORGANIZATION PROVIDES...

BUSINESS REVOLVING LOAN FUNDS: IN FY2024, GROW SOUTH DAKOTA MADE 23 BUSINESS LOANS TOTALING 6,559,750 CREATING OR RETAINING 75 JOBS THROUGH THE REVOLVING LOAN FUND. THE ORGANIZATION PROVIDES TECHNICAL ASSISTANCE TO ALL APPLICANTS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $8,429,154

Program Service Revenue $1,476,799

Investment Income $60,634

Other Revenue $0

TOTAL REVENUE $9,966,587

Expense Breakdown

Grants Paid $1,021,197

Salaries & Benefits $462,913

Fundraising Expenses $0

Program Expenses $2,770,127

Other Expenses $1,392,701

TOTAL EXPENSES $2,876,811

Year-over-Year Comparison

	2023	2022	Change
Revenue	$9,966,587	$3,106,545	+2.2%
Expenses	$2,876,811	$2,733,851	+0.1%
Net Income	$7,089,776	$372,694	+18.0%

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

$12,210

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARCIA ERICKSON	CHIEF EXECUT	13.00	Officer	$4,070	$0	$4,070
LORI FINNESAND	CHIEF EXECUT	13.00	Officer	$4,070	$0	$4,070
KATHRYN RASMUS	CHIEF FINANC	13.00	Officer	$4,070	$0	$4,070
TAWNEY BRUNSCH	DIRECTOR	1.00	Director	$0	$0	$0
CRAIG CARSON	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
TOM FARBER	SECRETARY/TR	1.00	Officer Director	$0	$0	$0
MICHELLE KANE	DIRECTOR	1.00	Director	$0	$0	$0
ERIC KUNZWEILER	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL MALONE	DIRECTOR	1.00	Director	$0	$0	$0
DANIEL MENKING	PRESIDENT	1.00	Officer Director	$0	$0	$0
GINGER NIEMANN	DIRECTOR	1.00	Director	$0	$0	$0
ERIC SHEPHERD	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	No data	No data	No data	No data
2024	$9,966,587	$2,876,811	$81,623,666	$7,089,776
2023	$3,106,545	$2,733,851	$56,863,772	$372,694
2022	$6,159,440	$3,745,734	$70,205,734	$2,413,706
2021	$4,765,225	$2,857,491	$67,703,039	$1,907,734
2020	$4,642,656	$2,149,599	$67,495,385	$2,493,057
2019	$6,736,103	$2,165,486	$37,094,728	$4,570,617