Grow South Dakota

Analysis

Grow South Dakota is a registered charity in United States, based in Sisseton, SD. It received its IRS tax-exemption ruling in August 2009, 17 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Grow South Dakota reported income of $10.0m and spending of $2.9m, leaving 71% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $4.6m to $10.0m (+115%), an average of +21% a year. The sharpest change came in the year to June 2024, when income rose by 221%. Over the whole period it spent 50% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Grow South Dakota sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within SD. Charities of a similar size with the same main cause include Los Angeles Black Worker Center ($10.0m), Community Entry Services Inc ($10.0m) and Elevate Ventures Inc ($10.0m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 85% and program service revenue 15% of the total. Compensation of current officers, directors and key employees was $12k (0.4% of expenses). Other salaries and wages came to $384k. At year end it held assets of $81.6m against liabilities of $74.0m, net assets of $7.7m.