Brookings Economic Development Corporation

Organization Overview

Brookings Economic Development Corporation is located in Brookings, SD. The organization was established in 1997. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2019, Brookings Economic Development Corporation employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.

For the year ending 12/2019, Brookings Economic Development Corporation generated $938.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (9.9%) each year. All expenses for the organization totaled $1.2m during the year ending 12/2019. As we would expect to see with falling revenues, expenses have declined by (1.3%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2019

Describe the Organization's Mission:

Part 3 - Line 1

DEDICATED TO SERVE THE BROOKINGS AREA BY ENHANCING THE ECONOMIC WELL-BEING OF THE CITY OF BROOKINGS AND ITS SURROUNDING AREAS AND TO IMPROVE ITS QUALITY OF LIFE AND PROSPERITY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

ENHANCE ECONOMIC WELL-BEING OF THE BROOKINGS AND SURROUNDING AREA.


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Board, Officers & Key Employees

Name (title)Compensation
Allan Heuton
Executive Direc
$141,810
Dan Hansen
President
$0
Carla Gatzke
Vice President
$0
Daniel Scholl
Director
$0
Stacy Meganthal
Director
$0
Daryl England
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$293,389
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$293,389
Total Program Service Revenue$411,832
Investment income $28,190
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $109,733
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 $938,791

Grants Awarded

Over the last fiscal year, Brookings Economic Development Corporation has awarded $167,000 in support to 3 organizations.

Grant RecipientAmount

SDSU GROWTH PARTNERSHIP

Org PageRecipient Profile

Brookings, SD

PURPOSE: Pass-Through

$120,000

ENTERPRISE INSTITUTE

Org PageRecipient Profile

Brookings, SD

PURPOSE: Entrepreneur Development

$36,000

BROOKINGS CHAMBER OF COMMERCE

Org PageRecipient Profile

Brookings, SD

PURPOSE: Events

$11,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Brookings Economic Development Corporation has recieved totaling $20,000.

Awarding OrganizationAmount
Avera Health

Sioux Falls, SD

PURPOSE: Sponsorship

$20,000
View Grant Recipient Profile

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