Rosholt Improvement Association Inc

Nonprofit profile at a glance

EIN
460345818
IRS 990 coverage
2024–2025
Forms available
Form 990 2025, Form 990-N 2009
Location
Rosholt, SD, USA
Phone
7017994525
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$88,508
Expenses
$53,066
Assets
$270,543
Liabilities
$120,000

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

Leadership & pay

8 people listed

Executive titles in this filing

  • Chad Smith (President)
  • Dick Braun (Vice President)

Highest reported compensation

  • Dick Braun (Vice President): $2,345 total reported compensation

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

Overview

Mission

To provide low-income housing, manage two apartments, help with economic development, improve quality of life, and encourage a sense of community

What it reported doing in 2025

We manage two apartment buildings (a 4-plex and an 8-plex) purchased through the Federal Housing Authority in the 1970s. They are well-maintained, and though we are no longer required to impose low-rent standards (loans were recently paid off), the rent is considered well below the going rate and would qualify as "low-rent by state standards. The apartments are very well-maintained, and there is always a waiting list. They are the only apartments available in our small town of 400.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program 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 a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 90
  • Accountability: 54
  • Sustainability: 56
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 60%; rating input score 60
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 14th 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: 75%; rating input score 75; 25th percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 40%; rating input score 82; 82nd percentile among comparable filings
  • Total-asset coverage ratio: 5.1; rating input score 52; 52nd percentile among comparable filings
  • Liabilities to assets ratio: 0.44; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 4.4%; rating input score 14; 14th percentile among comparable filings

Growth

  • Program expense growth: -98.5% per year; rating input score 0; 2nd percentile among comparable filings
  • Revenue growth: 11.2% per year; rating input score 100; 87th percentile among comparable filings
  • Asset growth: 61.5% per year; rating input score 100; 97th percentile among comparable filings

Details

  • Where the money goes: 60% of revenue deployed · 100% of spending went to programs
  • Governance: 6 of 8 board members independent · 2 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $119K in reported program spending
  • Leadership: top reported pay $2K · 8 people listed
  • Consistency: 21 of 22 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • Filing history: 2 filing years from 2024 to 2025
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule D land buildings reconciliation did not reconcile in the filed values.
  • Review — Sustainability: Total-asset coverage ratio scored 52/100.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.
  • High — Sustainability: Officer compensation ratio scored 14/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.