Elevate Rapid City
- Assets
- $9.5m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 16
- Location
- Rapid City, SD
- Founding
- 04/1964
- Data as of
- 12/2021
- EIN
- 46-0118545
Organization Overview
Elevate Rapid City is located in Rapid City, SD. The organization was established in 1964. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Elevate Rapid City employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Elevate Rapid City is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Elevate Rapid City generated $1.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (13.3%) each year. All expenses for the organization totaled $2.3m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (6.8%) 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
COMMON BUSINESS INTEREST OF THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ECONOMIC WELL-BEING OF APROXIMATELY 1,200 MEMBERS OF THE RAPID CITY AREA BY PROMOTING A HEALTHY ECONOMIC CLIMATE OF GOOD JOBS AND EFFICIENT AND EFFECTIVE GOVERNMENT AND PROVIDE PROGRAMS WITH IMPROVED QUALITY OF LIFE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Johnson President/ce | Officer | 40 | $264,060 |
Tom Weaver Secretary/tr | OfficerTrustee | 1 | $0 |
Darren Haar Chairman | OfficerTrustee | 1 | $0 |
Paulette Davidson Vice Chairma | OfficerTrustee | 1 | $0 |
Todd Kenner Executive Co | Trustee | 1 | $0 |
Dennis Aanenson Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $333,518 |
| All other contributions, gifts, grants, and similar amounts not included above | $45,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $378,518 |
| Total Program Service Revenue | $860,549 |
| Investment income | $73,358 |
| 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 | $1,325,047 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $260,810 |
| Grants and other assistance to domestic individuals. | $4,200 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $307,282 |
| Compensation of current officers, directors, key employees. | $153,641 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $853,292 |
| Pension plan accruals and contributions | $55,592 |
| Other employee benefits | $156,993 |
| Payroll taxes | $75,997 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $209 |
| Fees for services: Accounting | $35,053 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $141,307 |
| Advertising and promotion | $84,316 |
| Office expenses | $50,343 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $24,740 |
| Travel | $25,313 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,431 |
| Interest | $6,000 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,784 |
| Insurance | $12,249 |
| All other expenses | $0 |
| Total functional expenses | $2,257,274 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,393,225 |
| Savings and temporary cash investments | $317,829 |
| Pledges and grants receivable | $1,499,922 |
| Accounts receivable, net | $63,743 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,926,522 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $72,000 |
| Net Land, buildings, and equipment | $78,339 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $171,480 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,523,060 |
| Accounts payable and accrued expenses | $277,165 |
| Grants payable | $141,667 |
| Deferred revenue | $339 |
| 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 | $600,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,019,171 |
| Net assets without donor restrictions | $7,931,946 |
| Net assets with donor restrictions | $571,943 |
| 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 | $9,523,060 |
Grants Awarded
Over the last fiscal year, Elevate Rapid City has awarded $275,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Rapid City, SD PURPOSE: COMMUNITY DEVELOPMEN | $150,000 |
SOUTH DAKOTA ELLSWORTH DEVELOPMENTAUTHORITY PURPOSE: COMMUNITY DEVELOPMEN | $100,000 |
Rapid City, SD PURPOSE: COMMUNITY DEVELOPMEN | $25,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Elevate Rapid City has recieved totaling $50,000.
| Awarding Organization | Amount |
|---|---|
Sanford Sioux Falls, SD PURPOSE: ECONOMIC DEVELOPMENT | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Society Of Corporate Compliance And Ethics & Health Care Compliance Eden Prairie, MN | $30,768,192 | $19,415,043 |
Saint Paul Rivercentre Convention And Visitors Authority St Paul, MN | $10,775,339 | $12,198,491 |
Minnesota Hospital Association St Paul, MN | $27,636,744 | $11,552,322 |
Aca International Eagan, MN | $12,262,505 | $9,311,579 |
Minneapolis Downtown Improvement District Minneapolis, MN | $3,331,993 | $8,257,561 |
Nutech Ventures Lincoln, NE | $5,844,401 | $7,636,320 |
Greater Des Moines Partnership Des Moines, IA | $8,726,466 | $7,643,877 |
Greater Sioux Falls Chamber Of Commerce Sioux Falls, SD | $10,050,793 | $7,933,347 |
American Simmental Association Bozeman, MT | $18,730,338 | $6,575,498 |
Minnesota Association Of Professional Employees Mape Shoreview, MN | $22,099,313 | $6,757,766 |
Wyoming Chambers Health Benefit Association Gillette, WY | $3,153,493 | $5,111,173 |
New Better Business Bureau Inc Omaha, NE | $8,883,722 | $5,104,852 |