2025-06-13T13:37:22-04:00 2024-07-31 460257538 KETEL THORSTENSON LLP PO BOX 3140 RAPID CITY SD 577093140 990 2023-08-01 466012194 WATERTOWN DEVELOPMENT COMPANY WATE 6058840340 PO BOX 332 WATERTOWN SD 57201 CHRISTOPHER CLIFTON EXECUTIVE DIRECTOR 6058806784 2025-06-13 true true JEFF YENNIE CPA CVA P01445585 6053425630 2025-06-13 2023 2025-03-06 01:10:19Z CHRISTOPHER CLIFTON PO BOX 332 WATERTOWN SD 57201 3726959 false X WWW.WATERTOWNWORKS.COM X 1947 SD ECONOMIC DEVELOPMENT IN THE WATERTOWN, SOUTH DAKOTA AREA. 14 14 5 14 0 166476 2308336 1100649 1373246 145283 44313 -1457 1064 1410951 3726959 52560 176540 0 435712 418528 136381 0 1902628 3392761 2390900 4124210 -979949 -397251 25950816 30618359 19782483 25430628 6168333 5187731 ECONOMIC DEVELOPMENT IN THE WATERTOWN, SOUTH DAKOTA AREA. false false THE WATERTOWN DEVELOPMENT COMPANY SERVES TO IMPROVE THE OVERALL STANDARD OF LIVING IN THE COMMUNITY BY WAY OF STIMULATING ECONOMIC DEVELOPMENT BY ASSISTING NEW AND EXISTING BUSINESSES WITH CREATION OF NEW JOBS AND THE RETENTION OF EXISTING JOBS. false true false false false false false false false true false false false false true true false false false false false false true false false false true false false false false false false false false false false false false false true false false true 13 0 5 true false false false false false false false false X 14 14 false false false false true true true true true false false true true true true true true true true true true X CHRISTOPHER CLIFTON 6058840340 PO BOX 332 WATERTOWN SD 57201 CHRISTOPHER CLIFTON EXECUTIVE DI 40.00 X 86376 0 19464 STEVE LEHNER CHAIR 1.00 X X 0 0 0 MARK DUNN SECRETARY/TR 1.00 X X 0 0 0 TROY ZEBROSKI DIRECTOR 1.00 X 0 0 0 TROY VANDUSEN DIRECTOR 1.00 X 0 0 0 AMANDA MACK DIRECTOR 1.00 X 0 0 0 JOHN ALLEN DIRECTOR 1.00 X 0 0 0 COREY BALOUN DIRECTOR 1.00 X 0 0 0 DUSTIN FLATTEN DIRECTOR 1.00 X 0 0 0 DAN GARVEY DIRECTOR 1.00 X 0 0 0 BRENT HASSLEN DIRECTOR 1.00 X 0 0 0 JOSH HOGUE DIRECTOR 1.00 X 0 0 0 JOHN STEINBAUER DIRECTOR 1.00 X 0 0 0 TIFFANY SANDERSON DIRECTOR 1.00 X 0 0 0 JIM SEURER DIRECTOR 1.00 X 0 0 0 86376 19464 false false false NAT'L COMMUNITY DEVELOPMENT SERVICES 12460 CRABAPPLE ROAD STE 202-638 ALPHARETTA GA 30004 FUNDRAISING 287550 INFRASTRUCTURE DESIGN GROUP INC 116 WEST 69TH STREET SUITE 200 SIOUX FALLS SD 57108 ARCHITECTURAL 100805 2 826006 1482330 2308336 QUALIFYING RENT INCOME 531120 1373246 1373246 1373246 44313 44313 OTHER INCOME 999999 1998 1998 INTERSTATE OFFICE ADD VENTURE 523000 -215 -215 KAMPESKA CAPITAL, LLC 523000 -719 -719 1064 3726959 1372312 46311 176540 105998 231796 6338 46991 27405 80873 115320 136381 231907 136461 87003 111180 27785 788716 446314 23330 CREDIT LOSSES 1340962 ECONOMIC INCENTIVES 2910 4124210 0 0 0 404627 783241 3583950 2582266 226971 1435138 12100 12271 6816339 4854640 6243 6235 24242541 3496081 14678959 20746460 108970 108036 112657 90072 25950816 30618359 59471 435140 19723012 24995488 19782483 25430628 X 6168333 3752593 1435138 6168333 5187731 25950816 30618359 X -397251 -583352 1 X false true true false RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 885934 186275 1072209 22346276 3365535 18980741 141462 130546 10916 682594 682594 20746460 X 3726958 3726958 1 1 3726959 4124208 4124208 2 2 4124210 SCHEDULE D, PAGE 3, PART X AT JULY 31, 2024, THE COMPANY BELIEVES NO SIGNIFICANT UNCERTAIN TAX POSITIONS OR LIABILITIES EXIST. SCHEDULE D, PAGE 4, PART XI, LINE 4B ROUNDING 1 SCHEDULE D, PAGE 4, PART XII, LINE 4B ROUNDING 2 X X X true NAT'L COMMUNITY DEVELOPMENT SERVICE 12460 CRABAPPLE ROAD STE 202-638 ALPHARETTA GA 30004 CAMPAIGN false 2154280 143775 2010505 2154280 143775 2010505 SD true LAKE AREA TECHNICAL COLLEGE FOUNDAT PO BOX 730 WATERTOWN SD 57201 363860861 501C3 80125 SCHOLARSHIPS FRIENDS OF THE GOSS OPERA HOUSE INC 100 EAST KEMP AVE WATERTOWN SD 57201 821384455 501C3 30000 GENERAL SUPPORT SOUTH DAKOTA GOVERNORS OFFICE 711 E WELLS AVE PIERRE SD 57501 466000364 GOV 17500 GENERAL SUPPORT 3 SCHEDULE I, PAGE 4, PART IV THE ORGANIZATION PROVIDES FUNDS TO THE LAKE AREA TECHNICAL COLLEGE FOUNDATION TO ASSIST WITH SCHOLARSHIP FUNDING FOR POTENTIAL AND EXISTING STUDENTS. THE ORGANIZATION IS AN INDUSTRY PARTNER WITH SEVERAL EMPLOYERS THROUGHOUT THE WATERTOWN COMMUNITY OFFERING PARTNERSHIP IN VARIOUS LATC PROGRAMS. SUCH PROGRAMS INCLUDE, BUT NOT LIMITED TO HEALTHCARE, ADVANCED MANUFACTURING, BUILDING TRADES/CONSTRUCTION, AND AUTOMOTIVE TECHNOLOGY. THE ORGANIZATIONS SPONSORSHIP IS ONE STUDENT PER BUSINESS. THE ORGANIZATION DOES NOT PARTICIPATE IN THE SELECTION OF SCHOLARSHIP RECIPIENTS OR COLLECT PAYMENT FROM STUDENTS. LATC STAFF ASSISTS WITH ALLOCATING THE FUNDS. THE ORGANIZATION ALSO MAKES SMALLER DONATIONS TO OTHER LOCAL 501(C)(3) ORGANIZATIONS WHOSE MISSION IS TO BENEFIT THE LOCAL COMMUNITY AND WHOSE MISSION ALIGNS WITH THE MISSION OF THE WATERTOWN DEVELOPMENT COMPANY. DONATIONS TO SUCH ORGANIZATIONS ARE REVIEWED AND APPROVED BY THE ORGANIZATIONS BOARD OF DIRECTORS. THE ORGANIZATIONS FINANCE COMMITTEE RECOMMENDED A YEARLY LIMIT OF 40,000 FOR COMMUNITY CAMPAIGN ASKS (200,000 OVER 5 YEARS OR 5% OF GROW 2.0 CAMPAIGN GOAL) WHICH DOES NOT INCLUDE FUNDS ALLOCATED TO LATCS STRETCH THE MILLIONS PROGRAM. FORM 990, PAGE 6, PART VI, LINE 6 ORGANIZATION IS MADE UP OF MEMBERS. FORM 990, PAGE 6, PART VI, LINE 7A BOARD MEMBERS ARE ELECTED BY THE MEMBERSHIP. FORM 990, PAGE 6, PART VI, LINE 7B YES BY VIRTUE OF ACTIONS TAKEN AT ANNUAL MEETING. FORM 990, PAGE 6, PART VI, LINE 11B THE FORM 990 IS PREPARED BY A LICENSED CPA FIRM. MANAGEMENT REVIEWS THE 990 IN DETAIL, AND A COPY IS PRESENTED TO THE BOARD OF DIRECTORS PRIOR TO FILING. FORM 990, PAGE 6, PART VI, LINE 12C DIRECTORS AND OFFICERS ARE REQUIRED TO DISCLOSE ANY POSSIBLE CONFLICTS AND AGREE TO THE POLICY ANNUALLY. FORM 990, PAGE 6, PART VI, LINE 15A THE BOARD OF DIRECTORS REVIEWS AND APPROVES ANNUAL COMPENSATION FOR THE EXECUTIVE DIRECTOR. THE DECISION IS PROPERLY DOCUMENTED THROUGH BOARD OF DIRECTOR MINUTES. FORM 990, PAGE 6, PART VI, LINE 15B SAME PERSON AS LINE 15A. FORM 990, PAGE 6, PART VI, LINE 19 THE ORGANIZATION MAKES ALL OF ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI THE FISCAL YEAR 2023 AUDIT WAS COMPLETED SUBSEQUENT TO PREPARATION OF THE 2022 TAX RETURN AND RESULTED IN ADJUSTMENTS TO DEPRECIATION AND THE PROVISION FOR UNCOLLECTIBLE NOTES RECEIVABLE. PRIOR PERIOD ADJUSTMENT IS INCLUDED IN THE 2023 TAX RETURN IN THE AMOUNT OF 583,352. FORM 990, PART XI, LINE 9 ROUNDING -1 ROUNDING 2 TOTAL 1 INTERSTATE OFFICE ADDITION VENTURE PO BOX 1267 WATERTOWN SD 57201 460423343 REAL ESTAT SD N/A RELATED -215 79079 false true 0.75000 false false false false false false false false false false false false false false false false false false false