Platte Development Corporation

Nonprofit profile at a glance

EIN
363762148
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-EZ 2021
Location
Platte, SD, USA
Phone
6053372895
Rating
53
Verdict
MIXED
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Reported finances

Revenue
$525,277
Expenses
$573,396
Assets
$671,415
Liabilities
$174,000

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • DENNIS VANDERWERFF (President)
  • CORDELL MUILENBERG (Vice President)

People named in this filing

  • COLE ANDERSON (Director)
  • KURT VANDERBOOM (Director)
  • WHITNEY DEHAAN (Director)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Community growth and improvement

What it reported doing in 2024

The organization applied for and received a grant to help the community research and address the local child care shortage. Grant funds received were used to provide local organization with operating capital and other financial needs.

Operating model

Revenue model
Donor-supported. 76% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 99% 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

MIXED - The filed numbers largely add up and program spending has grown recently. A relatively small share of voting board members are independent and a relatively small share of available resources goes toward mission work.

Rating breakdown

  • Financial Efficiency: 50
  • Transparency & Controls: 86
  • Accountability: 0
  • Sustainability: 35
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 59.1%; rating input score 59
  • Program expense ratio: 53.4%; rating input score 53
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 16th 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: 0%; rating input score 0; 5th percentile among comparable filings
  • Governance controls: 0 of 7 controls in place; rating input score 0
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -9.2%; rating input score 18; 18th percentile among comparable filings
  • Total-asset coverage ratio: 1.17; rating input score 48; 48th percentile among comparable filings
  • Liabilities to assets ratio: 0.26; rating input score 27; 27th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 142.1% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: 23.1% per year; rating input score 100; 88th percentile among comparable filings
  • Asset growth: 8.6% per year; rating input score 100; 54th percentile among comparable filings

Details

  • Where the money goes: 59.1% of revenue deployed · 53.4% of spending went to programs
  • Governance: 0 of 6 board members independent · 0 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $306K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 23 of 24 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • High — Accountability: Independent voting board scored 0/100.
  • Review — Financial Efficiency: Mission deployment rate scored 59/100.
  • High — Accountability: Governance controls: 7 of 7 not reported.
  • Review — Financial Efficiency: Program expense ratio scored 53/100.
  • High — Sustainability: Operating margin scored 18/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Total-asset coverage ratio scored 48/100.
  • High — Sustainability: Liabilities to assets ratio scored 27/100.