VISIT RAPID CITY

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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

2017

Legal Domicile

Principal Officer

ALLY FORMANEK

Phone

6057188492

Tax Period

2024-01-01 to 2024-12-31

VISIT RAPID CITY, founded in 2017, is a community nonprofit in the Community Improvement sector that reported $3.5M in total revenue in fiscal year 2024.

Mission

THE ORGANIZATION WILL MARKET RAPID CITY AND THE BLACK HILLS AREA AND WILL ACT AS THE CATALYST BETWEEN MEETING PLANNERS, GROUP TOUR PLANNERS, TRAVEL AGENTS, TRAVEL WRITERS AND LEISURE VISITORS TO PROMOTE AREA ACCOMODATIONS, ATTRACTIONS, RESTAURANTS AND SERVICES. THE PURPOSE OF THESE ACTIVITIES IS TO PROMOTE RAPID CITY AS A PLACE WHERE PEOPLE WANT TO VISIT AND AFTER THE VISIT, A PLACE WHERE PEOPLE WANT TO LIVE AND WORK.

Program Service Accomplishments

Program 1

FACILITATES MARKETING EFFORTS FOR RAPID CITY & THE BLACK HILLS ACROSS STATE, REGION, NATIONAL, & WORLD MARKETS BY PROVIDING FREE INFORMATION TO VISITORS AND POTENTIAL VISITORS ON THE AREA'S LODGING, DINING, EVENTS, NATIONAL AND STATE PARKS, AND MONUMENTS AND MEMORIALS, AND BY PROVIDING FREE SERVICING SUPPORT AND SPONSORSHIP FUNDING FOR MEETINGS, CONVENTIONS, SPORTS, GROUP TOURS & OTHER EVENTS BRINGING VISITORS TO THE AREA.

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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 $250,646

Program Service Revenue $3,189,954

Investment Income $63,050

Other Revenue $3,778

TOTAL REVENUE $3,507,428

Expense Breakdown

Grants Paid $533,925

Salaries & Benefits $998,374

Fundraising Expenses $0

Other Expenses $1,946,514

TOTAL EXPENSES $3,478,813

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,507,428	$3,460,580	+0.0%
Expenses	$3,478,813	$3,140,820	+0.1%
Net Income	$28,615	$319,760	-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

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

$232,178

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KELLY BUNTROCK	CHAIR	1.00	Officer Director	$0	$0	$0
TIM JOHNSON	VICE CHAIR	1.00	Officer Director	$0	$0	$0
SCOTT LANDGUTH	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
CHRIS JOHNSON	DIRECTOR	1.00	Director	$0	$0	$0
JESSE SCHEITLER	DIRECTOR	1.00	Director	$0	$0	$0
KATELYN COOK	DIRECTOR	1.00	Director	$0	$0	$0
MIKE DERBY	DIRECTOR	1.00	Director	$0	$0	$0
STACIE HULL	VOTING LIAISON	1.00	Director	$0	$0	$0
LOGAN STEFFENS	VOTING LIAISON	1.00	Director	$0	$0	$0
BROOK KAUFMAN	PRESIDENT	40.00	Officer	$226,565	$5,613	$232,178

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
2024	$3,507,428	$3,478,813	$3,588,231	$28,615
2023	$3,460,580	$3,140,820	$3,490,186	$319,760
2022	$3,030,912	$3,569,252	$3,252,507	$-538,340
2021	$3,408,774	$2,556,767	$2,991,953	$852,007
2020	$3,458,518	$2,526,258	$2,292,918	$932,260
2019	$2,771,928	$2,573,890	$1,205,441	$198,038
2018	$2,718,823	$2,715,894	$1,082,448	$2,929