2023-11-14T08:49:41-06:00 2022-12-31 450250958 Eide Bailly LLP 345 N Reid Pl Ste 400 Sioux Falls SD 571037034 990 2022-01-01 460427565 Milbank Community Foundation MILB 6054329000 103 Flynn Dr Milbank SD 57252 Mark Leddy President 6054329000 2023-11-10 1 Mark Leddy XXX-XX-XXXX 1 Laurie Hanson CPA P00851848 6053391999 2023-11-10 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z X Mark Leddy 103 Flynn Dr Milbank SD 57252 735004 0 X www.milbankcf.com X 1993 SD Charitable and benevolent purposes for the benefit of the residents of Milbank, South Dakota. X 6 6 1 41 0 0 674326 218578 20732 10505 102594 -21030 0 0 797652 208053 613147 651175 0 0 84738 83321 0 0 49864 41139 55769 739024 790265 58628 -582212 1435565 0 191561 0 1244004 0 X The mission of the Milbank Community Foundation is to provide the opportunity for philanthropic investment in our community; demonstrate leadership in the areas of education, social & economic development; & promote the quality of life to the residents of the Milbank area. 0 1 665983 651175 10505 Various programs and scholarships are provided for the benefit of residents of the Grant County, South Dakota area. The purpose of the foundation is to broaden the opportunities for social, cultural, educational and recreational development for all residents of the Grant County area. The Foundation is committed to contributing to the community in ways that will enhance the social and economic well-being of everyone. 665983 1 1 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 1 2 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 6 6 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 0 1 0 X Craig Wellnitz 6054329000 103 Flynn Drive Milbank SD 57252 X Mark Leddy President 0.50 X X 0 0 0 Mark Bierschbach Vice President 0.20 X X 0 0 0 Greg Thomas Secretary/Treasurer 0.20 X X 0 0 0 Jeff Jones Director 0.20 X 0 0 0 Tana Mundwiler Director 0.20 X 0 0 0 Doug Stengel Director 0.20 X 0 0 0 Craig Wellnitz Finance Director 45.00 X 60676 0 2169 60676 0 2169 0 0 0 0 0 218578 218578 Other revenue 900099 10505 10505 10505 25283 25283 480638 526951 -46313 -46313 -46313 208053 10505 0 -21030 624425 624425 26750 26750 78125 7813 31249 39063 5196 520 2078 2598 3210 3210 29584 29584 411 119 292 3124 197 2927 615 123 492 165 165 150 30 120 1294 1294 Combined Appeal 8203 8203 9013 6006 3007 790265 665983 74418 49864 0 452570 0 11388 0 0 0 0 0 0 0 0 0 1231 0 970376 0 0 0 0 0 1435565 0 88020 0 103541 0 191561 0 X 543134 0 700870 0 1244004 0 1435565 0 X -582212 -112380 -549412 X 1 X 0 1 0 X 379756 311352 465403 674326 218578 2049415 379756 311352 465403 674326 218578 2049415 675584 1373831 100181 92937 81052 51153 25283 350606 2400021 1077311 0.57240 0.55420 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4 1 202540 5794 691326 3203 42384 7107 1 1 0 X Part X, Line 2: The Foundation believes it has appropriate support for any tax positions taken affecting its annual filing requirements, and as such, does not have any uncertain tax positions that are material to the financial statements. The Foundation would recognize future accrued interest and penalties related to unrecognized tax benefits and liabilities in income tax expense if such interest and penalties are incurred. 1 Milbank Ball Diamond Association PO Box 70 Milbank SD 57252 208783287 501(c)(3) 11000 0 Youth Development Milbank Community Transit PO Box 406 Milbank SD 57252 460421111 501(c)(3) 8000 0 Health/Human Service Imagination Library PO Box 550 Milbank SD 57252 466014918 501(c)(3) 8000 0 Youth Development Grant County Heart & Diabetes Association 103 Flynn Drive Milbank SD 57252 460427565 501(c)(3) 80000 0 Health/Human Service City of Milbank 904 East 4th Avenue Milbank SD 57252 466000291 Government 27100 0 Health/Human Service and Youth Development; Unity Square improvements 5 0 Scholarships 26 25000 Part I, Line 2: The Agencies request funds by application and go through an interview process before they are approved through the Grant County Combined Appeal Campaign (GCCA). With the application, each agency must submit a budget on how they plan to spend the requsted grant dollars and show proof that they are a nonprofit agency or are under an approved nonprofit group. Once the agencies have met all requirements and the fundraising is completed the GCCA committee makes their recommendations to the Foundation Board on how the funds should be allcated out to the agencies. The Foundation Board approves final allocation to be allocated out the following year in quarterly installments starting in January. Agencies that apply for funds in the following year must provide a budget on how they spent the grant dollars the previous year and to give a general recap on how the funds were spent. Milbank Community Foundation accepts scholarship applications from eligible students. These applications are reviewed by a committee and recipients are selected. Milbank Community Foundation makes payments to the individual and respective school jointly. No additional follow-up is made. Investments 2022-12-31 469342 Book Value 460391642 Milbank High School Educational Foundation PO Box 366 Milbank SD 57252 501(c)(3) Cash, net of payables 2022-12-31 79140 Book Value 460391642 Milbank High School Educational Foundation PO Box 366 Milbank SD 57252 501(c)(3) Equipment 2022-12-31 930 Book Value 460391642 Milbank High School Educational Foundation PO Box 366 Milbank SD 57252 501(c)(3) 1 0 0 0 0 0 0 0 0 Part I, Line 2e: Person(s) Involved: Jeff Jones, Greg Thomas Part I, Line 2e: Explanation of Involvement: Jeff Jones is on the board of Milbank High School Educational Foundation. Greg Thomas came over from Milbank Community Foundation Board to Milbank High School Educational Foundation Board. Form 990, Part III, line 3 Milbank Community Foundation discontinued operations as of 12/31/22, and transferred all remaining assets to Milbank High School Educational Foundation. Form 990, Part VI, Section A, line 1a The Executive Board shall be comprised of the past Chair, the Chair, the Vice Chair, the Secretary and Treasurer. The duties of the Executive Board are to develop and monitor policies which manage the affairs of the Foundation. The Executive Board shall meet at least four times per year at the call of the Chair. Form 990, Part VI, Section B, line 11b The Form 990 is reviewed by the Executive Board members. A copy is provided to the Board of Directors prior to filing with the IRS. Form 990, Part VI, Section B, line 12c Board members and all staff are required to complete a conflict of interest document on an annual basis. Any potential conflicts are reviewed by the Board Chair. If an individual has a conflict they must remove themselves from discussions and voting. Form 990, Part VI, Section B, line 15b The President of the organization is not compensated. Salaries are compared to data provided by the state for similar positions of the Finance Director and other Management employees. The information is provided to the board, which reviews the compensation and any additional information they feel is needed prior to approving the arrangement. This process last took place in 2017. Form 990, Part VI, Section C, line 19 A summarized financial statement is made available to the public through the annual report distributed at the annual meeting. Form 990, Part VII: The Organization did not list a top management official. The Executive Committee of the board makes all management decisions for the Organization. Form 990, Part XI, line 9: Transfer of ending assets to Milbank HS Educational Fdtn -549,412.