Nonprofit · EIN 46-6011831
ABERDEEN DEVELOPMENT CORPORATION
Tax-exempt · ABERDEEN, SD 57401
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $911,814 | $1,283,368 | -$371,554 | $10,731,122 | $2,260,549 | $8,470,573 |
| December 31, 2023 | 990 | $920,712 | $1,684,986 | -$764,274 | $11,453,901 | $2,291,059 | $9,162,842 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $261,127
- of which government grants
- $117,434
- Program service revenue
- $408,761
- Investment income
- $214,225
- Net rental income
- $7,709
- Net gain from sales of assets
- $113,651
- Other revenue
- $27,701
Expenses
- Grants and similar amounts paid
- $179,174
- Compensation of officers, directors and key employees
- $267,497
- Other salaries and wages
- $157,420
- Salaries, compensation and benefits (total)
- $513,486
- Professional fundraising fees
- $0
- Occupancy
- $41,732
- Travel
- $34,489
- Depreciation
- $75,144
Balance sheet and other
- Total assets, start of year
- $11,453,901
- Total assets, end of year
- $10,731,122
- Total liabilities, end of year
- $2,260,549
- Net assets, end of year
- $8,470,573
- Land, buildings and equipment
- $2,106,485
- Publicly traded securities
- $1,794,423
- Net assets without donor restrictions
- $4,129,577
- Net assets with donor restrictions
- $4,340,996
- Gross receipts
- $4,225,668
- Employees
- 7
- Volunteers
- 15
- Year formed
- 1955
- State of legal domicile
- SD
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Michael Bockorny | CEO Officer | 40 | $209,729 | $29,206 |
| Tim Hanigan-Chair Jan-Sep | Interim CEO (Oct-Dec) Trustee or director, Officer | 40 | $25,000 | $0 |
| Kip Hansen-Vice Chair Jan-Sep | Chair (Oct-Dec) Trustee or director, Officer | 4 | $0 | $0 |
| Mark Gederos-Director Jan-Sep | Chair-Elect (Oct-Dec) Trustee or director, Officer | 2 | $0 | $0 |
| Scott Noeldner | Secretary/Treasurer Trustee or director, Officer | 6 | $0 | $0 |
| Char Hager | Director Trustee or director | 0.5 | $0 | $0 |
| David Kreber | Director Trustee or director | 0.5 | $0 | $0 |
| Katie Washnok | Director Trustee or director | 0.5 | $0 | $0 |
| Keri Satrang | Director Trustee or director | 0.5 | $0 | $0 |
| Ryan Schmike | Director Trustee or director | 0.5 | $0 | $0 |
| Adam Butcher | Director Trustee or director | 0.5 | $0 | $0 |
| Jeff Lee | Director Trustee or director | 0.5 | $0 | $0 |
| Mark Malchow | Director Trustee or director | 0.5 | $0 | $0 |
| Spencer Sommers | Director Trustee or director | 0.5 | $0 | $0 |
| Nicole Summner | Director Trustee or director | 0.5 | $0 | $0 |
2 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Paul Forst | Director (Mar-Dec) Trustee or director | 0.5 | $0 |
| Shane Phillips | Director (Mar-Dec) Trustee or director | 0.5 | $0 |
990 for the year ended December 31, 2023: 15 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Michael Bockorny | CEO Officer | 40 | $178,047 | $26,466 |
| Tim Hanigan | Chair Trustee or director, Officer | 2 | $0 | $0 |
| Kip Hansen | Vice-Chair Trustee or director, Officer | 1 | $0 | $0 |
| Scott Noeldner | Secretary/Treasurer Trustee or director, Officer | 1 | $0 | $0 |
| Char Hager | Director Trustee or director | 1 | $0 | $0 |
| David Kreber | Director Trustee or director | 1 | $0 | $0 |
| Katie Washnok | Director Trustee or director | 1 | $0 | $0 |
| Mark Gederos | Director Trustee or director | 1 | $0 | $0 |
| Keri Satrang | Director Trustee or director | 1 | $0 | $0 |
| Ryan Schmike | Director Trustee or director | 1 | $0 | $0 |
| Adam Butcher | Director Trustee or director | 1 | $0 | $0 |
| Jeff Lee | Director Trustee or director | 1 | $0 | $0 |
| Mark Malchow | Director Trustee or director | 1 | $0 | $0 |
| Spencer Sommers | Director Trustee or director | 1 | $0 | $0 |
| Nicole Summner | Director Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 506 S MAIN ST, ABERDEEN, SD 57401-4183
- Principal officer (990 for 2024)
- Tim Hanigan, 506 S Main St Ste 2, Aberdeen, SD 57401
- Signed the 990
- Tim Hanigan, CEO
- Phone
- (605) 229-5335
- Website
- www.adcsd.com
- Return prepared by
- Eide Bailly LLP
Mission
Recruit, retain, expand, and provide entrepreneurial support to enhance economic opportunity in Aberdeen and our surrounding region.
Program accomplishments
- The Corporation focuses on recruitment of new business and retention/expansion of existing business by promoting the region through disbursement of information and the building, selling, and leasing of development sites. The Corporation continued its industry efforts, but also placed an emphasis on entrepreneurial support and labor retention and recruitment.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 46-6011831
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 1974
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $10,731,122
- Income (IRS master file)
- $4,225,668
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $911,814 | $1,283,368 | $10,731,122 | IRS |
| 990 | December 2023 | $920,712 | $1,684,986 | $11,453,901 | XML |
| 990 | December 2022 | $1,606,263 | $1,041,174 | $12,144,487 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | March 2019 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 46-6011831).
Questions about ABERDEEN DEVELOPMENT CORPORATION
- What is the EIN of ABERDEEN DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of ABERDEEN DEVELOPMENT CORPORATION is 46-6011831.
- Is ABERDEEN DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1974.
- Are donations to ABERDEEN DEVELOPMENT CORPORATION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does ABERDEEN DEVELOPMENT CORPORATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of ABERDEEN DEVELOPMENT CORPORATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did ABERDEEN DEVELOPMENT CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of ABERDEEN DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2024 names Tim Hanigan.
- Who are the officers and directors of ABERDEEN DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2024 lists 17 people; 2 received compensation from the organization, the highest $209,729 (Michael Bockorny, CEO).
- How much revenue does ABERDEEN DEVELOPMENT CORPORATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $911,814, expenses of $1,283,368 and total assets of $10,731,122 at year end.
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