Clark Industrial Development Corporation in Clark, South Dakota (SD)

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Clark Industrial Development Corporation
Employer Identification Number (EIN)510196412
Name of OrganizationClark Industrial Development Corporation
Address120 N Commercial St, Clark, SD 57225-1524
ActivitiesAttracting new industry or retaining industry in an area
SubsectionSocial Welfare Organization
Ruling Date08/1976
DeductibilityContributions are not deductible
FoundationAll organizations except 501(c)(3)
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2011
Assets$1,000,000 to $4,999,999
Income$100,000 to $499,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$1,609,662
Amount of Income$294,469
Form 990 Revenue Amount$294,469
National Taxonomy of Exempt Entities (NTEE)Community Improvement, Capacity Building: Economic Development


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Amount of income in 2011: $294,469
This organization: 

 $294,469
Other organizations performing similar types of work: 

 $679,123

Assets in 2011: $1,609,662
Clark Industrial Development Corporation: 

 $1,609,662
Other organizations performing similar types of work: 

 $2,175,928

Expenses in 2006: $65,837
Clark Industrial Development Corporation: 

 $65,837
Other organizations performing similar types of work: 

 $639,562

Income to expenses ratio in 2006: 1.8
This organization: 

 1.8
Other organizations performing similar types of work: 

 1.1

Expenses allocated to program services in 2006: 95.7%
This organization: 

 95.7%
Other organizations performing similar types of work: 

 16.8%

Grants share in income in 2006: 77.6%
Clark Industrial Development Corporation: 

 77.6%
Other organizations performing similar types of work: 

 38.9%

Financial snapshot ($)

Revenue for 2006

Assets at end of 2006

Expenses for 2006

Functional Expenses for 2006 ($)

Income-Producing Activities for 2006

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20052006
Total revenue$369,311$120,413
Contributions, gifts, grants, and similar amounts received$158,681$93,427
Contributions to donor advised funds$0
Direct public support$0$0
Indirect public support$0$0
Government contributions (grants)$158,681$93,427
Program service revenue including government fees and contracts$0$0
Membership dues and assessments$0$0
Interest on savings and temporary cash investments$3,162$934
Dividends and interest from securities$0$0
Net rental income or (loss)$9,525$26,052
Gross rents$9,525$26,052
Less: rental expenses$0$0
Other investment income$0$0
Gain or (loss) from sales of assets other than inventory$0$0
Gross amount from sales of assets other than inventory$0$0
Less: cost or other basis and sales expenses$0$0
Net income or (loss) from special events and activities$0$0
Gross revenue$0$0
Less: direct expenses other than fundraising expenses$0$0
Gross profit or (loss) from sales of inventory$0$0
Gross sales of inventory, less returns and allowances$0$0
Less: cost of goods sold$0$0
Other revenue$197,943$0
Total expenses$48,621$65,837
Program services$47,883$63,003
Management and general$738$2,834
Fundraising$0$0
Payments to affiliates$0$0
Net assets or fund balances at end of year$740,147$794,723
Excess or (deficit) for the year$320,690$54,576
Net assets or fund balances at beginning of year$419,457$740,147
Other changes in net assets or fund balances$0$0
Statement of Functional Expenses (for 2006)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$65,837$63,003$2,834$0
Grants paid from donor advised funds$0
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$0$0$0$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$0$0$0$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$0$0$0$0
Payroll taxes$0$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$2,145$1,716$429$0
Legal fees$0$0$0$0
Supplies$0$0$0$0
Telephone$0$0$0$0
Postage and shipping$0$0$0$0
Occupancy$2,260$2,260$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$0$0$0$0
Travel$0$0$0$0
Conferences, conventions, and meetings$0$0$0$0
Interest$15,703$15,703$0$0
Depreciation, depletion, etc.$22,853$22,853$0$0
Other expenses not covered above$22,876$20,471$2,405$0
Balance Sheets
20052006
Total assets$1,049,125$1,043,001
Cash - non-interest-bearing$52,520$73,518
Savings and temporary cash investments$0$0
Accounts receivable less allowance for doubtful accounts$2,284$0
Pledges receivable less allowance for doubtful accounts$0$0
Grants receivable$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0
Other notes and loans receivable less allowance for doubtful accounts$31,584$8,000
Inventories for sale or use$0$0
Prepaid expenses and deferred charges$0$0
Investments - publicly-traded securities$0
Investments - other securities$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0
Investments - other$0$0
Land, buildings, and equipment less accumulated depreciation$959,418$961,041
Other assets, including program-related investments$3,319$442
Total liabilities$308,978$248,278
Accounts payable and accrued expenses$1,694$2,671
Grants payable$0$0
Deferred revenue$0$0
Loans from officers, directors, trustees, and key employees$0$0
Tax-exempt bond liabilities$0$0
Mortgages and other notes payable$307,284$245,607
Other liabilities$0$0
Total liabilities and net assets/fund balances$1,049,125$1,043,001
Total net assets or fund balances$740,147$794,723
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20052006
Total revenue$369,311$0
Total revenue, gains, and other support per audited financial statements$369,311$0
Other expenses$0$0
Net unrealized gains on investments$0$0
Donated services and use of facilities$0$0
Recoveries of prior year grants$0$0
Other$0$0
Other revenue$0$0
Investment expenses$0$0
Other$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20052006
Total expenses$48,621$0
Total expenses and losses per audited financial statements$48,621$0
Other revenue$0$0
Donated services and use of facilities$0$0
Prior year adjustments$0$0
Losses$0$0
Other$0$0
Other expenses$0$0
Investment expenses$0$0
Other$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings0
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?No
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?No
Did the organization make only in-house lobbying expenditures of $2,000 or less?No
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?No
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20060
Analysis of Income-Producing Activities (for 2006)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$26,986$0
Program service revenue
Program service revenue 1000000$000$0$0
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$934$0
Dividends and interest from securities000000$000$0$0
Net rental income or (loss) from real estate
debt-financed property000000$0Real property rental income that does not depend on the income or profits derived by the person leasing the property and is excluded by section 512(b)(3)$26,052$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$000$0$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2006)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2006)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2006)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
Enter the total number of donor advised funds owned at the end of the tax year$0
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it is
Support Schedule
20042005
Total$0$0
Gifts, grants, and contributions received$0$0
Membership fees received$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0
Net income from unrelated business activities not included above$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0
Other income$0$0
Lobbying Expenditures by Electing Public Charities (for 2006)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Statements Regarding Other IRS Filings and Tax Compliance (for 2011)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2011)
Total revenue$294,469
Contributions, Gifts, Grants and Other Similar Amounts$78,480
Program Service Revenue$211,876
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$288
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net gain from sales of assets other than inventory$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$3,825
Statement of Functional Expenses (for 2011)
Total functional expenses$226,225
Compensation of current officers, directors, trustees, and key employees$0
Other salaries and wages$0
Payroll taxes$0
Professional fundraising services$0
Other$226,225
Balance Sheet (for 2011)
Total assets$1,609,662
Total liabilities$377,286
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$374,747
Unsecured notes and loans payable to unrelated third parties$0
Other$2,539
Total net assets or fund balances$1,232,376
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2011)
The organization is not a private foundation because it is:Not provided
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Organizations performing similar types of work
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2Bristol Bay Economic Development Corporation, BbedcPO BOX 1464, Dillingham, AK 99576-1464AK1993-07$79,211,075
3Orlando Orange County Convention & Visitors Bureau Inc6700 Forum Drive No 100, Orlando, FL 32821-8086FL1985-07$56,005,045
4Calvert Social Investment Foundation Inc7315 Wisconsin Ave 11th, Bethesda, MD 20814MD1989-06$42,788,175
5Norton Sound Economic Development Corporation420 L St Ste 310, Anchorage, AK 99501-1971AK1993-09$38,514,557
6Nyc & Company Inc810 Seventh Avenue 3rd Floor, New York, NY 10019-5896NY1948-12$37,416,736
7San Diego Convention Corporation Inc111 W Harbor Dr, San Diego, CA 92101-7822CA1989-11$31,121,372
8Yukon Delta Fisheries Development Association2200 6th Ave Ste 707, Seattle, WA 98121-1855WA1993-12$31,033,223
9Greater Miami Convention And Visitors Bureau Inc701 Brickell Ave Ste 2700, Miami, FL 33131-2851FL1985-06$28,811,721
10Los Angeles Tourism & Convention Board333 S Hope St Fl 18, Los Angeles, CA 90071-1430CA1979-08$26,947,825
11Southern Minnesota Initiative Foundation525 Florence Ave, Owatonna, MN 55060-4754MN1986-08$21,304,909
12Chicago Convention & Tourism Bureau Inc301 E Cermak Road, Chicago, IL 60616-1578IL1971-08$19,460,613
13Ben Franklin Technology Partners Of Northeastern Pennsylvania Inc116 Research Dr, Bethlehem, PA 18015-4731PA1989-10$19,093,132
14Manned Space Flight Education Foundation Incorporated1601 Nasa Pkwy, Houston, TX 77058-3145TX1987-09$18,809,441
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17Atlanta Convention & Vistors Bureau Inc233 Peachtree St Ne Ste 1400, Atlanta, GA 30303-1507GA1946-08$14,191,666
18Philadelphia Convention & Visitors Bureau Of The Chamber Of Commerce1700 Market St Ste 3000, Philadelphia, PA 19103-3933PA1944-12$14,171,297
19San Francisco Travel Association201 3rd St Ste 900, San Francisco, CA 94103-3152CA1947-10$13,929,110
20Greater Houston Partnership Inc1200 Smith St Ste 700, Houston, TX 77002-4400TX1990-07$13,740,515
21Lehigh Valley Industrial Park Inc1720 Spillman Dr Ste 150, Bethlehem, PA 18015-2164PA1961-05$13,413,274
22Salt Lake Convention And Visitors Bureau90 S West Temple, Salt Lake Cty, UT 84101-1406UT$13,275,668
23Independence Vistor Center Corporation6th And Market Streets, Philadelphia, PA 19106PA1998-05$11,886,211
24New Orleans Convention And Visitors Bureau2020 St Charles Ave, New Orleans, LA 70130-5319LA1962-03$11,447,479
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26Economic Council Of St Louis County7733 Forsyth Blvd Ste 2300, Saint Louis, MO 63105-1806MO1985-07$10,986,670
27South Dakota Development Corporation, C-O Gover Office Of Economic Develo711 E Wells Ave, Pierre, SD 57501-3385SD1993-07$2,816,411
28Spearfish Industrial DevelopmentPO BOX 550, Spearfish, SD 57783-0550SD1980-12$1,214,359
29Clark Industrial Development Corporation120 N Commercial St, Clark, SD 57225-1524SD1976-08$294,469
30Glacial Lakes Area DevelopmentPO BOX 231, Britton, SD 57430-0231SD2007-12$101,251
Number of organizations performing similar types of work
Alaska6
Alabama4
Arkansas9
Arizona5
California16
Colorado7
Connecticut3
District of Columbia3
Delaware3
Florida8
Georgia2
Iowa13
Idaho2
Illinois10
Indiana12
Kansas5
Kentucky8
Louisiana11
Massachusetts4
Maryland9
Maine3
Michigan11
Minnesota5
Missouri5
Mississippi5
Montana3
North Carolina13
North Dakota2
Nebraska3
New Hampshire3
New Jersey8
New Mexico2
New York18
Ohio10
Oklahoma2
Oregon1
Pennsylvania39
South Carolina5
South Dakota4
Tennessee3
Texas25
Utah3
Virginia8
Vermont5
Washington7
Wisconsin12
West Virginia6
International1
Total352

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