Spearfish Downtown Business Association
Spearfish Downtown Business Association shows strong revenue growth and asset accumulation in 2023 with no officer compensation.
EIN: 200964739 · Spearfish, SD · NTEE: S41 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $135K |
| Total Expenses | $70K |
| Program Spending | 80% |
| Net Assets | $61K |
| Transparency Score | 85/100 |
Is Spearfish Downtown Business Association Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Spearfish Downtown Business Association directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Spearfish Downtown Business Association
Spearfish Downtown Business Association (EIN: 200964739) is a nonprofit organization based in Spearfish, SD, classified under NTEE code S41. The organization reported total revenue of $135K and total assets of $116K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Spearfish Downtown Business Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Spearfish Downtown Business Association is a small nonprofit that has been operating for 11 years, with 9 years of IRS 990 filings on record (2015–2023). Revenue has grown at a compound annual rate of 6.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $120K |
| Total Expenses | $70K |
| Surplus / Deficit | +$50K |
| Total Assets | $61K |
| Net Assets | $61K |
| Operating Margin | 41.8% |
| Months of Reserves | 10.4 months |
Financial Health Grade: A
In 2023, Spearfish Downtown Business Association reported a surplus of $50K with revenue exceeding expenses, holds 10.4 months of operating reserves (strong position).
Financial Trends
Over 9 years of filings (2015–2023), Spearfish Downtown Business Association's revenue has grown at a compound annual growth rate (CAGR) of 6.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +70.9% | +0.3% | +423.7% |
| 2022 | +35.4% | -5.4% | -6.5% |
| 2021 | -6.0% | +31.6% | -63.4% |
| 2020 | -20.5% | -32.2% | +0.3% |
| 2019 | -21.5% | +9.3% | -28.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 2015 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Spearfish Downtown Business Association with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Spearfish Downtown Business Association allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $50K, with revenue exceeding expenses.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that its leadership is entirely volunteer-based, which is highly efficient for a nonprofit of its size.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Strengths
The following positive indicators were identified for Spearfish Downtown Business Association:
- Consistent reporting of 0% officer compensation, indicating volunteer leadership.
- Significant revenue growth in 2023 ($120,181) compared to previous years.
- Substantial increase in assets to $60,735 in 2023, demonstrating financial health.
- Zero liabilities reported in multiple years, including 2023, indicating strong financial management.
- Consistent IRS 990 filing history, showing good transparency.
Frequently Asked Questions about Spearfish Downtown Business Association
Is Spearfish Downtown Business Association a legitimate charity?
Spearfish Downtown Business Association (EIN: 200964739) is a registered tax-exempt nonprofit based in South Dakota. Our AI analysis gives it a Mission Score of 85/100. It has 9 years of IRS 990 filings on record. Total revenue: $135K. No red flags identified. 5 strengths noted. Financial health grade: A.
How does Spearfish Downtown Business Association spend its money?
Spearfish Downtown Business Association directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Spearfish Downtown Business Association tax-deductible?
Spearfish Downtown Business Association is registered as a tax-exempt nonprofit (EIN: 200964739). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Spearfish Downtown Business Association's spending goes to programs?
Spearfish Downtown Business Association directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Spearfish Downtown Business Association compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Spearfish Downtown Business Association is above average for NTEE category S41 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Spearfish Downtown Business Association located?
Spearfish Downtown Business Association is headquartered in Spearfish, South Dakota and files with the IRS under EIN 200964739. It is classified under NTEE code S41.
How many years of IRS 990 filings does Spearfish Downtown Business Association have?
Spearfish Downtown Business Association has 9 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $135K in total revenue.
Is Spearfish Downtown Business Association financially stable?
Yes, the organization appears financially stable, especially with its 2023 revenue of $120,181 significantly exceeding expenses of $70,002, leading to an increase in assets to $60,735 and zero liabilities.
How does the organization manage executive compensation?
The organization reports 0% officer compensation in all available filings, indicating that its executive leadership is volunteer-based and receives no salary from the organization.
Has the organization's financial health improved recently?
Yes, the organization's financial health has improved significantly, with 2023 revenue ($120,181) nearly doubling 2022 revenue ($70,332) and assets growing substantially from $11,597 in 2022 to $60,735 in 2023.
Filing History
IRS 990 filing history for Spearfish Downtown Business Association showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2015–2023), Spearfish Downtown Business Association's revenue has grown by 63%, moving from $74K to $120K. Total assets increased by 91.3% over the same period, from $32K to $61K. Total functional expenses fell by 1.3%, from $71K to $70K. In its most recent filing year (2023), Spearfish Downtown Business Association reported a surplus of $50K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $120K | $70K | $61K | $0 | — | — |
| 2022 | $70K | $70K | $12K | $1K | — | — |
| 2021 | $52K | $74K | $12K | $2K | — | View 990 |
| 2020 | $55K | $56K | $34K | $2K | — | View 990 |
| 2019 | $70K | $83K | $34K | $1K | — | View 990 |
| 2018 | $89K | $76K | $47K | $1K | — | View 990 |
| 2017 | $57K | $61K | $33K | $0 | — | View 990 |
| 2016 | $69K | $63K | $37K | $0 | — | View 990 |
| 2015 | $74K | $71K | $32K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $120K, expenses of $70K, and assets of $61K (revenue +70.9% year-over-year).
- 2022: Revenue of $70K, expenses of $70K, and assets of $12K (revenue +35.4% year-over-year).
- 2021: Revenue of $52K, expenses of $74K, and assets of $12K (revenue -6.0% year-over-year).
- 2020: Revenue of $55K, expenses of $56K, and assets of $34K (revenue -20.5% year-over-year).
- 2019: Revenue of $70K, expenses of $83K, and assets of $34K (revenue -21.5% year-over-year).
- 2018: Revenue of $89K, expenses of $76K, and assets of $47K (revenue +54.9% year-over-year).
- 2017: Revenue of $57K, expenses of $61K, and assets of $33K (revenue -16.8% year-over-year).
- 2016: Revenue of $69K, expenses of $63K, and assets of $37K (revenue -6.8% year-over-year).
- 2015: Revenue of $74K, expenses of $71K, and assets of $32K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Spearfish Downtown Business Association:
Data Sources and Methodology
This transparency report for Spearfish Downtown Business Association is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.