Nonprofit · EIN 75-3002561
ITC RURAL ECONOMIC DEVELOPMENT INC
Tax-exempt · CLEAR LAKE, SD 57226
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $38,691 | $12,081 | $26,610 | $1,272,615 | $161,395 | $1,111,220 |
| December 31, 2023 | 990 | $35,972 | $10,673 | $25,299 | $1,276,105 | $191,495 | $1,084,610 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $18,762
- Investment income
- $19,929
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Accounting fees
- $10,343
- Program services (functional)
- $1,738
- Management and general (functional)
- $10,343
Balance sheet and other
- Total assets, start of year
- $1,276,105
- Total assets, end of year
- $1,272,615
- Total liabilities, end of year
- $161,395
- Net assets, end of year
- $1,111,220
- Net assets without donor restrictions
- $781,220
- Net assets with donor restrictions
- $330,000
- Gross receipts
- $38,691
- Employees
- 0
- Volunteers
- 8
- Year formed
- 2001
- 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 |
|---|---|---|---|
| SUSAN ROBBINS | PRESIDENT Trustee or director, Officer | 0.5 | $0 |
| G TODD GARRY | VICE PRESIDENT Trustee or director, Officer | 0.5 | $0 |
| WARREN BRANDLEE | SECRETARY Trustee or director, Officer | 0.5 | $0 |
| JOEL BRANDT | TREASURER Trustee or director, Officer | 0.5 | $0 |
| CONNIE SAWINSKY | DIRECTOR Trustee or director | 0.5 | $0 |
990 for the year ended December 31, 2023: 5 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| SUSAN ROBBINS | PRESIDENT Trustee or director, Officer | 0.5 | $0 |
| G TODD GARRY | VICE PRESIDENT Trustee or director, Officer | 0.5 | $0 |
| WARREN BRANDLEE | SECRETARY Trustee or director, Officer | 0.5 | $0 |
| JOEL BRANDT | TREASURER Trustee or director, Officer | 0.5 | $0 |
| CONNIE SAWINSKY | DIRECTOR Trustee or director | 0.5 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 920, CLEAR LAKE, SD 57226-0920
- Principal officer (990 for 2024)
- SUSAN ROBBINS, PO BOX 920, CLEAR LAKE, SD 57226
- Signed the 990
- SUSAN ROBBINS, PRESIDENT
- Phone
- (605) 874-2181
- Website
- WWW.ITC-WEB.COM
- Return prepared by
- EIDE BAILLY LLP
Mission
INTENT - TO PROVIDE LOW INTEREST LOANS TO BUSINESSES AND COMMUNITIES FOR THE PURPOSE OF ADDING VALUE, EMPLOYMENT, AND RURAL COMMUNITY OPPORTUNITIES. PROPOSALS MAY INCLUDE HEALTHCARE, ENVIRONMENTAL, EDUCATIONAL, AND SAFETY-RELATED PROJECTS.
Program accomplishments
- ITC REDI HAD LOANS RECEIVABLE FROM A TOTAL OF 8 COMPANIES/INDIVIDUALS AS OF DECEMBER 31, 2024, INCLUDING 2 LOANS THAT WERE GRANTED DURING 2024. THE LOANS ARE FOR ECONOMIC DEVELOPMENT IN RURAL COMMUNITIES AND TELECOMMUNICATIONS FOR RURAL DEVELOPMENT, JOB CREATION, AND IMPROVING RURAL INFRASTRUCTURE.Expenses $1,738 · revenue $18,762
What it must file and when
IRS records say it files Form 990-N (e-Postcard). Gross receipts normally $50,000 or less. 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
- 75-3002561
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2002
- Accounting year ends
- December
- Files
- Form 990-N (e-Postcard)
- Category (NTEE)
- Community improvement and capacity building (S32)
- Assets (IRS master file)
- $1,272,615
- Income (IRS master file)
- $38,691
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $38,691 | $12,081 | $1,272,615 | XML |
| 990 | December 2023 | $35,972 | $10,673 | $1,276,105 | XML |
| 990 | December 2022 | $113,014 | $13,021 | $1,281,995 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | 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 75-3002561).
Questions about ITC RURAL ECONOMIC DEVELOPMENT INC
- What is the EIN of ITC RURAL ECONOMIC DEVELOPMENT INC?
- The employer identification number (EIN) of ITC RURAL ECONOMIC DEVELOPMENT INC is 75-3002561.
- Is ITC RURAL ECONOMIC DEVELOPMENT INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2002.
- Are donations to ITC RURAL ECONOMIC DEVELOPMENT INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does ITC RURAL ECONOMIC DEVELOPMENT INC file?
- Form 990-N (e-Postcard). Gross receipts normally $50,000 or less.
- When is the next return of ITC RURAL ECONOMIC DEVELOPMENT INC 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 ITC RURAL ECONOMIC DEVELOPMENT INC 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 ITC RURAL ECONOMIC DEVELOPMENT INC?
- The 990 for the year ended December 31, 2024 names SUSAN ROBBINS.
- Who are the officers and directors of ITC RURAL ECONOMIC DEVELOPMENT INC?
- The 990 for the year ended December 31, 2024 lists 5 people; 0 received compensation from the organization.
- How much revenue does ITC RURAL ECONOMIC DEVELOPMENT INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $38,691, expenses of $12,081 and total assets of $1,272,615 at year end.
Other nonprofits in CLEAR LAKE
- CLEAR LAKE AREA DEVELOPMENT CORPORATION EIN 87-4105727 · last filed 990-EZ for 2025
- H-D ELECTRIC COOPERATIVE INC EIN 46-0212565 · last filed 990 for 2025
- DEUEL COUNTY AMBULANCE INC EIN 46-0418357 · last filed 990 for 2025
- DEUEL COUNTY MEMORIAL HOSPITAL EIN 46-0398244 · last filed 990 for 2026
- CLEAR LAKE GOLF CLUB ASSOCIATION EIN 46-6017080 · last filed 990 for 2025
- DEUEL COUNTY CHARITIES EIN 46-0462194 · last filed 990-EZ for 2025
- DEUEL AREA DEVELOPMENT INC EIN 26-4033911 · last filed 990-EZ for 2025
- AMERICAN LEGION EIN 46-6014823 · last filed 990-N for 2025
All nonprofits in CLEAR LAKE · South Dakota · Community improvement and capacity building