Areawide Business Council Incorporated

Nonprofit profile at a glance

EIN
460375317
IRS 990 coverage
2020–2025
Forms available
Form 990 2025
Location
Yankton, SD, USA
Phone
6056654408
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$404,407
Expenses
$171,800
Assets
$10,456,991
Liabilities
$682,781

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

9 people listed

People named in this filing

  • Lisa Creasey (Board member)
  • Rick Hogue (Board Member)
  • David Lambert (Board Member)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Economic Development

What it reported doing in 2025

The primary purpose of Areawide Business Council Inc is economic development. The main vehicle for accomplishing this is through low-interest loans made to individuals wishing to start a business or to existing businesses wishing to expand their business. Progress is measured in the number of loans made, the amount of private investment leveraged, and the number of jobs created or saved. Since inception, Areawide Business Council Inc has made 459 loans, leveraged $147.3 million in private investments, and created or saved 3842 jobs.

Operating model

Revenue model
Other-operating. 93% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 54
  • Transparency & Controls: 92
  • Accountability: 82
  • Sustainability: 84
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 43.4%; rating input score 43
  • Program expense ratio: 91.4%; rating input score 91
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 57.5%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 60.87; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 25; 25th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: 10.9% per year; rating input score 100; 70th percentile among comparable filings
  • Revenue growth: -54.5% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: 0.8% per year; rating input score 100; 25th percentile among comparable filings

Details

  • Where the money goes: 43.4% of revenue deployed · 91.4% of spending went to programs
  • Governance: 9 of 9 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $157K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 6 filing years from 2020 to 2025
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Mission deployment rate scored 43/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 25/100.