GLACIAL LAKES AREA DEVELOPMENT INC

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

2005

Legal Domicile

Principal Officer

LINDSEY KIMBER

Tax Period

2023-01-01 to 2023-12-31

GLACIAL LAKES AREA DEVELOPMENT INC, founded in 2005, is a small nonprofit in the Community Improvement sector that reported $116K in total revenue in fiscal year 2023. Expenses of $251K exceeded revenue, resulting in a 117% operating deficit.

Mission

TO FACILITATE REGIONAL ECONOMIC DEVELOPMENT IN NORTHEASTERN SOUTH DAKOTA.

Program Service Accomplishments

Program 1

Expenses: $165,293

ATTENDED, STAFFED, AND COORDINATED VARIOUS COMMUNITY MEETINGS REGARDING LOCAL ECONOMIC DEVELOPMENT PROJECTS. COLLECTED AND DISBURSED DONATED FUNDS FOR COMMUNITY FACILITIES TO BE TRANSFERRED TO LOCAL NONPROFIT COUNTRY CLUB, SCHOOL ACTIVITIES, AND CITY EVENT CENTER UPON COMPLETION. MADE BUSINESS LOANS TO SMALL LOCAL BUSINESSES AND COLLECTED INTEREST AND PRINCIPAL PAYMENTS ON SAME.ADMINISTERED WORKFORCE DEVELOPMENT GRANTS

🔒

Trantor Score

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

Sign in to view Trantor Score and financial metrics

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $75,067

Program Service Revenue $40,386

Investment Income $217

Other Revenue $0

TOTAL REVENUE $115,670

Expense Breakdown

Grants Paid $0

Salaries & Benefits $75,744

Fundraising Expenses $0

Program Expenses $165,293

Other Expenses $174,912

TOTAL EXPENSES $250,656

Year-over-Year Comparison

	2023	2022	Change
Revenue	$115,670	$121,070	0.0%
Expenses	$250,656	$93,559	+1.7%
Net Income	$-134,986	$27,511	-5.9%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✓ Donor Advised Fund ✗ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

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
PEGGY PEARSON	DIRECTOR	1.00	Director	$0	$0	$0
MATT SCHULLER	DIRECTOR	1.00	Director	$0	$0	$0
KRISTIN HOFLAND	DIRECTOR	1.00	Director	$0	$0	$0
KENNETH STRONG	DIRECTOR	1.00	Director	$0	$0	$0
ALICIA TONSFELDT	SECRETARY	1.00	Officer Director	$0	$0	$0
JENNIFER KEINTZ	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
CHAD HARDY	PRESIDENT	1.00	Officer Director	$0	$0	$0
LINDSEY KIMBER	EXECUTIVE DIRECTOR	40.00	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
2024	No data	No data	No data	No data
2023	$115,670	$250,656	$1,213,591	$-134,986
2022	$121,070	$93,559	$1,214,620	$27,511
2021	$129,775	$92,919	$1,139,172	$36,856
2020	$109,320	$82,962	$1,159,133	$26,358
2019	$108,893	$86,254	$1,207,642	$22,639
2018	$130,328	$84,297	$1,538,649	$46,031