2026-06-12T11:59:11-04:00 2025-07-31 460257538 KETEL THORSTENSON LLP PO BOX 3140 RAPID CITY SD 577093140 990 2024-08-01 466012194 WATERTOWN DEVELOPMENT COMPANY WATE 6058840340 PO BOX 332 WATERTOWN SD 57201 CHRISTOPHER CLIFTON EXECUTIVE DIRECTOR 6058806784 2026-06-12 true true JEANETTE SCHROEDER CPA P00479382 6053425630 2026-06-12 2024 2025-03-06 01:10:19Z CHRISTOPHER CLIFTON PO BOX 332 WATERTOWN SD 57201 9538363 false X WWW.WATERTOWNWORKS.COM X 1947 SD ECONOMIC DEVELOPMENT IN THE WATERTOWN, SOUTH DAKOTA AREA. 13 13 6 14 0 2308336 198037 1373246 1645950 44313 508799 1064 10107 3726959 2362893 176540 43888 0 418528 395986 136381 0 0 3392761 2367760 4124210 2807634 -397251 -444741 30618359 23144113 25430628 18401123 5187731 4742990 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 false false false false true false true false false false false false false false false false false false true false false true 12 0 6 true false false false false false false false false X 13 13 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 149040 0 21374 ALAN STAGER CHAIR 1.00 X X 0 0 0 MARK DUNN SECRETARY/TR 1.00 X X 0 0 0 STEVE LEHNER DIRECTOR 1.00 X 0 0 0 TIFFANY SANDERSON DIRECTOR 1.00 X 0 0 0 TROY VANDUSEN 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 TROY ZEBROSKI 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 JOSH HOGUE DIRECTOR 1.00 X 0 0 0 ANDRE KELLER DIRECTOR 1.00 X 0 0 0 DOUG SHARP DIRECTOR 1.00 X 0 0 0 149040 21374 1 false true false LL & SONS EXCAVATING 27 LAFAYETTE ST HAZEL SD 57242 CONSTRUCTION 808175 INFRASTRUCTURE DESIGN GROUP INC 116 WEST 69TH STREET SUITE 200 SIOUX FALLS SD 57108 ARCHITECTURAL 272464 2 111784 86253 198037 QUALIFYING RENT INCOME 531120 1645950 1645950 1645950 61748 61748 7622521 7175470 447051 447051 447051 OTHER INCOME 999999 11000 11000 INTERSTATE OFFICE ADD VENTURE 523000 -219 -219 KAMPESKA CAPITAL, LLC 523000 -674 -674 10107 2362893 1645057 519799 43888 175636 168884 4050 21782 25634 116990 128730 123659 63620 36814 128848 20252 976861 601135 23726 LAND DEVELOPMENT 73708 CREDIT LOSSES 43417 ECONOMIC INCENTIVES 30000 2807634 0 0 0 783241 932844 2582266 2520665 1435138 1108025 12271 14091 4854640 4669700 6235 9684 17507292 3786678 20746460 13720614 108036 107143 90072 61347 30618359 23144113 435140 104348 24995488 18296775 25430628 18401123 X 3752593 3634965 1435138 1108025 5187731 4742990 30618359 23144113 -444741 X false true true false RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 684549 186275 870824 15222144 3649026 11573118 141462 133725 7737 1272862 3927 1268935 13720614 X 2362893 2362893 2362893 2807634 2807634 2807634 SCHEDULE D, PAGE 3, PART X AT JULY 31, 2025, THE COMPANY BELIEVES NO SIGNIFICANT UNCERTAIN TAX POSITIONS OR LIABILITIES EXIST. true LAKE AREA TECHNICAL COLLEGE FOUNDAT PO BOX 730 WATERTOWN SD 57201 363860861 501C3 16875 SCHOLARSHIPS TEREX 3140 15TH AVE SE WATERTOWN SD 57201 411603748 N/A 5500 WORKFORCE CAMPAIGN WURTH ELECTRIC MIDCOM INC 121 AIRPORT DRIVE WATERTOWN SD 57201 N/A 6000 WORKFORCE CAMPAIGN 1 2 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. false false false CHRISTOPHER CLIFTON EXECUTIVE DIRECTOR 149040 4500 16874 170414 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 EXECUTIVE DIRECTOR'S COMPENSATION IS REVIEWED ANNUALLY BY THE BOARD OF DIRECTORS IN ACCORDANCE WITH THE ORGANIZATION'S BYLAWS AND ANNUAL APPRAISAL PROCESS. THE EXECUTIVE DIRECTOR DOES NOT PARTICIPATE IN DISCUSSIONS OR DECISIONS REGARDING HIS COMPENSATION. AS PART OF THE REVIEW PROCESS, THE BOARD CONSIDERS ORAL PERFORMANCE EVALUATIONS AND COMPARABLE COMPENSATION INFORMATION FROM SIMILAR ECONOMIC DEVELOPMENT ORGANIZATIONS. THE BOARD'S APPROVAL OF COMPENSATION IS DOCUMENTED IN THE MEETING 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. INTERSTATE OFFICE ADDITION VENTURE PO BOX 1267 WATERTOWN SD 57201 460423343 REAL ESTAT SD N/A RELATED -219 78860 false true 0.75000 false false false false false false false false false false false false false false false false false false false