South Dakota Association of Cooperatives

Nonprofit profile at a glance

EIN
460214081
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Pierre, SD, USA
Phone
6059452548
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$346,034
Expenses
$255,703
Assets
$916,181
Liabilities
$14,947

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

Leadership & pay

12 people listed

Executive titles in this filing

  • MIKE TRAXINGER (PRESIDENT)
  • JASON STARK (VICE PRESIDENT)
  • BRENDA FORMAN (EXECUTIVE DIRECTOR)

Highest reported compensation

  • BRENDA FORMAN (EXECUTIVE DIRECTOR): $112,500 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The organization's mission is: 1. To make available information and services for member cooperatives.2. To promote and assist in research and studies for the most effective utilization of cooperatives to improve the economic status of producers and consumers.3. To provide leadership in developing an understanding of the needs, purposes and accomplishments of cooperatives with government, including executive, legislative and regulatory branches, assuring cooperatives that the opportunity to fulfill their needs and purposes will be maintained and improved.4. To establish and maintain a position of leadership with allied cooperatives and other organizations in matters pertaining generally to the welfare of agriculture and the principles of cooperatives.5. To promote and conduct educational programs so that cooperatives will be recognized as the self-help device available to producers and consumers working to strengthen their economic opportunity.

What it reported doing in 2024

South Dakota association of cooperatives(sdac)focuses on several areas of concern to cooperatives. Government affairssdac works with the South Dakota legislature, state regulatory and administrative agencies, and South Dakota congressional delegation to secure laws and interpretations that will protect and guide cooperatives, yet not cause economic hardships. The association has been instrumental in securing changes that have saved cooperatives thousands of dollars by maintaining exemptions, clarification of definitions, fee reductions and prevention of unfavorable legislation before it is introduced.sdac's image and respect have been elevated to that which we are asked to give input into decisions affecting state policy in many areas. This has come about through the dedicated work of member co-ops, the board, and staff.sdac has gone from a position of always fighting unfavorable legislation and policy to one of being able to guide and change that which is unfavorable to cooperatives.legislative activity takes place outside the legislative session, and sdac plays an active role attending and testifying at the legislative interim committee and agency hearings.public relations and educationsdac public relations and education programs include future farmers of america, 4-h and youth involvement in the national institute for cooperative education.special events and activities, like october co-op month, the hall of fame induction banquet, agfest and co-op day at the legislature, all help raise public awareness of the important role cooperatives play in South Dakota's economy.sdac also serves as a link to provide the cooperative viewpoint to farm organizations, commodity groups and non-ag organizations ... Contributing ideas and concerns when interests parallel.presently, sdac represents the cooperatives of South Dakota on the following boards: certified crop advisory board value added development center ag unity South Dakota highway users association of state cooperative councils South Dakota rural development council national council on agriculture, research, extension and teaching veterinarian advisory board communicationsdac believes that effective cooperation depends on an alert and informed membership.

Operating model

Revenue model
Earned-program. 91% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 98% 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 90
  • Accountability: 74
  • Sustainability: 64
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 67.5%; rating input score 68
  • Program expense ratio: 100%; rating input score 100
  • 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: 91.7%; rating input score 92; 25th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • 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: 26.1%; rating input score 79; 79th percentile among comparable filings
  • Total-asset coverage ratio: 3.58; rating input score 73; 73rd percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 42; 42nd percentile among comparable filings
  • Officer compensation ratio: 44%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: 2.3% per year; rating input score 100; 41st percentile among comparable filings
  • Revenue growth: 3.9% per year; rating input score 100; 46th percentile among comparable filings
  • Asset growth: 9.3% per year; rating input score 100; 63rd percentile among comparable filings

Details

  • Where the money goes: 67.5% of revenue deployed · 100% of spending went to programs
  • Governance: 11 of 12 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $256K in reported program spending
  • Leadership: top reported pay $112K · 12 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 10 filing years from 2014 to 2024
  • 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.

  • Review — Accountability: Governance controls: 4 of 8 not reported.
  • High — Sustainability: Officer compensation ratio scored 5/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 42/100.