Regional Technical Education Center Inc
- Assets
- $242.2k
- Revenue
- $437.6k
- Investments
- $0.0
- Employees
- 7
- Location
- Yankton, SD
- Founding
- 06/2005
- Data as of
- 12/2021
- EIN
- 34-2014700
Organization Overview
Regional Technical Education Center Inc is located in Yankton, SD. The organization was established in 2005. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 12/2021, Regional Technical Education Center Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Regional Technical Education Center Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Regional Technical Education Center Inc generated $437.6k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.3%) each year. All expenses for the organization totaled $359.7k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.0%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HIGH QUALITY, AFFORDABLE TECHNICAL EDUCATION AND TRAINING OPPORTUNITIES WHICH WILL ENHANCE THE ABILITIES OF INDVIDUALS TO OBTAIN AND RETAIN EMPLOYMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION DESIGNS, MARKETS, & PROVIDES TECHNICAL TRAINING COURSES TO SOUTHEASTERN SOUTH DAKOTA AND NORTHEASTERN NEBRASKA TO MEET THE NEEDS OF MANUFACTURERS, THE HEALTHCARE INDUSTRY, AND OTHER ORGANIZATIONS AND INDUSTRIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Monte Gulick General Mana | Officer | 40 | $44,603 |
Ron Kraft Chairman | OfficerTrustee | 1 | $0 |
Todd Dvoracek Secretary | OfficerTrustee | 1 | $0 |
Steve Jorgenson Vice Chair | OfficerTrustee | 1 | $0 |
Brenda Spencer Treasurer | Officer | 1 | $0 |
Don Kettering Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $126,909 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $126,909 |
| Total Program Service Revenue | $310,535 |
| Investment income | $141 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $437,585 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $44,603 |
| Compensation of current officers, directors, key employees. | $44,603 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $122,288 |
| Pension plan accruals and contributions | $4,774 |
| Other employee benefits | $13,191 |
| Payroll taxes | $12,364 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,680 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,756 |
| Office expenses | $9,438 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $20,953 |
| Travel | $4,673 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $22,443 |
| Insurance | $13,747 |
| All other expenses | $70,755 |
| Total functional expenses | $359,665 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $124,660 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $34,337 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,570 |
| Net Land, buildings, and equipment | $81,643 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $242,210 |
| Accounts payable and accrued expenses | $25,688 |
| Grants payable | $0 |
| Deferred revenue | $5,900 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $31,588 |
| Net assets without donor restrictions | $210,622 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $242,210 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Regional Technical Education Center Inc has recieved totaling $50,000.
| Awarding Organization | Amount |
|---|---|
Yankton Thrive Inc Yankton, SD PURPOSE: MEMBERSHIP PROGRAM | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Collective For Youth Omaha, NE | $16,344,773 | $14,408,697 |
Wallin Education Partners St Paul, MN | $25,848,040 | $10,926,258 |
New American Development Center Minneapolis, MN | $3,930,676 | $9,122,032 |
Bluesky Charter School Bloomington, MN | $6,912,497 | $6,906,603 |
Us Math Recovery Council Eagan, MN | $3,296,483 | $6,771,005 |
Avenue Scholars Foundation Omaha, NE | $2,155,096 | $4,937,256 |
Woodbury Leadership Academy Woodbury, MN | $4,350,331 | $5,912,313 |
Barr Center St Louis Park, MN | $8,287,138 | $8,108,042 |
Great Mn Schools Minneapolis, MN | $411,897 | $3,619,260 |
Iowa Western Community College Foundation Council Bluffs, IA | $36,011,501 | $4,880,435 |
Morrison-Maierie Inc Group Health Plan Tr Helena, MT | $2,319,499 | $3,680,881 |
West River Foundation Sturgis, SD | $7,568,333 | $3,921,124 |