Basec
Legal name: Beadle and Spink Enterprise Community Inc
Nonprofit profile at a glance
- EIN
- 460438143
- IRS 990 coverage
- 2010–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024
- Location
- Doland, SD, US
- Phone
- (605) 635-6165
- Rating
- 68
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Rural Economic Development
Reported finances
- Revenue
- $340,295
- Expenses
- $199,247
- Assets
- $8,159,423
- Liabilities
- $2,928,996
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
10 people listed
Executive titles in this filing
- LEANNE BAWEK (PRESIDENT)
Highest reported compensation
- EMILY RODGERS (EXECUTIVE DI): $67,175 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Investing in rural communities to ensure that these rural communities exist for the next generations.
What it reported doing in 2024
Basec was formed to accept public and private funds to raise the economic welfare, educational and social levels of residents in the basec area. Basec utilizes a broad range of programs and initiatives to promote revitalization of the area under the program areas of business development, farm income development, housing development, and rural development. Basec maintains a revolving loan fund funded through grant and loan programs.
Operating model
- Revenue model
- Earned-program. 98% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 97% 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 program spending has declined or grown slowly.
Rating breakdown
- Financial Efficiency: 43
- Transparency & Controls: 90
- Accountability: 95
- Sustainability: 73
- Growth: 20
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 37.8%; rating input score 38
- Program expense ratio: 65.7%; rating input score 66
- 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: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 7 of 8 controls in place; rating input score 88
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: NotApplicable
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 41.4%; rating input score 88; 88th percentile among comparable filings
- Total-asset coverage ratio: 40.95; rating input score 98; 98th percentile among comparable filings
- Liabilities to assets ratio: 0.36; rating input score 14; 14th percentile among comparable filings
- Officer compensation ratio: 33.7%; rating input score 9; 9th percentile among comparable filings
Growth
- Program expense growth: -4.8% per year; rating input score 0; 17th percentile among comparable filings
- Revenue growth: -0.4% per year; rating input score 0; 22nd percentile among comparable filings
- Asset growth: 2.1% per year; rating input score 100; 34th percentile among comparable filings
Details
- What they do: 8 programs and campaigns described on the official site · 15 operating locations identified
- Where the money goes: 37.8% of revenue deployed · 65.7% of spending went to programs
- Governance: 8 of 8 board members independent · 7 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $131K in reported program spending
- Leadership: top reported pay $67K · 10 people listed
- Consistency: 32 of 32 current checks pass
- Schedules: 4 filed schedules
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 3 filed money-flow records
- 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.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- Moderate — Financial Efficiency: Mission deployment rate scored 38/100.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- Review — Accountability: Governance controls: Other executive compensation review process not reported.
- High — Sustainability: Officer compensation ratio scored 9/100.
- High — Sustainability: Liabilities to assets ratio scored 14/100.
- High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.