ECONOMIC DEVELOPMENT PROFESSIONALS ASSOCIATION

EIN: 854250311 Community Improvement

ABERDEEN, SD

Total Revenue
$236,950
Total Expenses
$148,280
Total Assets
$240,411
Net Assets
$216,170
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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
2021
Legal Domicile
SD
Principal Officer
MIKE BOCKORNY
Phone
6054128117
Tax Period
2023-01-01 to 2023-12-31

ECONOMIC DEVELOPMENT PROFESSIONALS ASSOCIATION, founded in 2021, is a small nonprofit in the Community Improvement sector that reported $237K in total revenue in fiscal year 2023. Revenue surged 524% from the prior year, signaling strong growth momentum. The organization ran a surplus of $89K, a strong 37% operating margin.

Mission

TO CHAMPION THE GROWTH AND DIVERSIFICATION OF SOUTH DAKOTA'S ECONOMY THROUGH PROFESSIONAL DEVELOPMENT, NETWORKING AND ADVOCACY.

Program Service Accomplishments

Program 1
Expenses: $12,347

ANNUAL CONFERENCE WITH SPEAKERS, NETWORKING OPPORTUNITIES AND A PRESENTATION FROM BOARD OF DIRECTORS AND FOUNDING SPONSORS. WEEKLY LEGISLATIVE UPDATES AND OTHER COMMUNICATIONS WITH MEMBERS FOR THE...

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ANNUAL CONFERENCE WITH SPEAKERS, NETWORKING OPPORTUNITIES AND A PRESENTATION FROM BOARD OF DIRECTORS AND FOUNDING SPONSORS. WEEKLY LEGISLATIVE UPDATES AND OTHER COMMUNICATIONS WITH MEMBERS FOR THE PURPOSE OF KEEPING COMMUNITIES VIBRANT AND AWARE OF ECONOMIC OPPORTUNITIES FOR ALL IN 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 $183,525
Program Service Revenue $53,425
Investment Income $0
Other Revenue $0
TOTAL REVENUE $236,950

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,000
Fundraising Expenses $0
Program Expenses $12,347
Other Expenses $146,280
TOTAL EXPENSES $148,280

Year-over-Year Comparison

2023 2022 Change
Revenue $236,950 $37,950 +5.2%
Expenses $148,280 $159,335 -0.1%
Net Income $88,670 $-121,385 -1.7%
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
15
Independent Members
15
Employees
N/A
Volunteers
7

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
5
$2,000
Total Directors
17
$2,000
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DAVID LAMBERT PAST PRESIDENT 2.00
Officer Director
$0 $0 $0
ALEX SMITH DIRECTOR 2.00
Director
$0 $0 $0
RITA ANDERSON DIRECTOR 2.00
Director
$0 $0 $0
NANCY WENANDE TREASURER 2.00
Officer Director
$0 $0 $0
BOB MUNDT SECRETARY 2.00
Officer Director
$0 $0 $0
CHRIS SCHILKEN DIRECTOR 2.00
Director
$0 $0 $0
TOM JOHNSON VICE CHAIRMAN 2.00
Officer Director
$0 $0 $0
MICHAEL BOCKORNY CHAIRMAN 5.00
Officer Director
$2,000 $0 $2,000
BROOKE ROLLAG DIRECTOR 2.00
Director
$0 $0 $0
CALEB FINCK DIRECTOR 2.00
Director
$0 $0 $0
CASEY CRABTREE DIRECTOR 2.00
Director
$0 $0 $0
JIM PROTEXTER DIRECTOR 2.00
Director
$0 $0 $0
JULIE JOHNSON DIRECTOR 2.00
Director
$0 $0 $0
KYLE PETERS DIRECTOR 2.00
Director
$0 $0 $0
TED HAEDER DIRECTOR 2.00
Director
$0 $0 $0
TIM REED DIRECTOR 2.00
Director
$0 $0 $0
GERI BECK DIRECTOR 2.00
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
2024 No data No data No data No data
2023 $236,950 $148,280 $240,411 $88,670
2022 $37,950 $159,335 $127,750 $-121,385
2021 $240,250 $83,291 $251,370 $156,959
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