Downtown Rapid City Economic Development

Nonprofit profile at a glance

EIN
262854507
IRS 990 coverage
2010–2016
Forms available
Form 990 2016
Location
Rapid City, SD, USA
Phone
6057167979
Rating confidence
Limited
Sector
Public, Societal Benefit

Official website

Reported finances

Revenue
$0
Expenses
$0
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2016. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • DAN SENFTNER (PRESIDENT/CE)

People named in this filing

  • STEVE ALLENDER (DIRECTOR)
  • JIM ADELSTEIN (DIRECTOR)
  • PAUL BRADSKY (VICE CHAIRPE)

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 2016. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The organization is committed to support, encourage, advocate and preserve the vitality and aesthetic beauty of the downtown rapid city business community.

What it reported doing in 2016

The organization assisted in the development of main street square, an outdoor events venue in rapid city, South Dakota that provides an active gathering place for the entire community. The square was completed in 2011. Ownership is maintained by the city of rapid city and square operations are part of a separate 501(c)(3) organization. The organization oversees management of the square through an operating agreement with the city of rapid city. On 1/1/16, all assets of the organization were contributed to this separate 501(c)(3) organization through a merger of the two entities.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 74
  • Accountability: 30
  • Sustainability: NotEnoughData
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 81.8%; rating input score 82; 2nd 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: Limited
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: Limited
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: Limited
  • Revenue growth: -15% per year; rating input score 0; 31st percentile among comparable filings
  • Asset growth: -18.1% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 5 of 7 filing controls reported
  • Programs: 4 filed program accomplishments
  • Leadership: top reported pay $0 · 12 people listed
  • Consistency: 7 of 8 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 7 filing years from 2010 to 2016
  • Contacts: How to reach this organization
  • 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.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • Moderate — Transparency & Controls: Series filing activity did not reconcile in the filed values.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.