NonprofitsRosholt Improvement Association Inc

Housing & Shelter

Rosholt Improvement Association Inc

ROSHOLT, SD

Total revenue

$79K

Total expenses

$156K

Net assets

$143K

Grants received

EIN

460345818

Tax year

2024

Mission

Community Development Corporation formed in 1972 through USDA to provide low-income housing, promote economic development, help with the improvement of the community's quality of life, and encourage sense of community among residents.

Programs

3 programs

Excavated one lot in recently reclaimed/purchased Block 6, poured basement and footings for garage, added basement windows and electrical in basement in preparation for placement of state-subsidized pre-fabricated house for a low-income-qualifying buyer (to be placed on foundation and all aspects completed in 2025)

Expenses: $56K

We manage two apartment buildings (a 4-plex and an 8-plex) purchased through the Federal Housing Authority in the 1970s. They are well-maintained, and though we are no longer required to impose low-rent standards (loans were recently paid off), the rent is considered well below the going rate. The apartments are very well-maintained, and there is always a waiting list. They are the only apartments available in our small town of 400.

Expenses: $52K

We provide storage sheds to the local community because it was brought up at a town hall meeting as a needed service. There is always a waiting list. WE also have several bare lots for sale for single-family dwellings. Cost for them is mowing, insurance, property tax (which goes away next year - we had lost our non-profit status by oversight 14 years ago but were retroactively reinstated after a lot of hard work on the request package.).

Expenses: $9K

Financials

FY 2024

Revenue

Contributions & grants
Program service revenue$78K
Investment income$1K
Other revenue
Total revenue$79K

Expenses

Grants paid
Salaries & benefits
Fundraising
Other expenses$156K
Total expenses$156K
Total assets$143K
Net assets$143K

People

8 listed

NameRoleCompensation

John Meyen

Director

Board

0.5 hrs/wk

Lynn Pistorius

Director

Board

0.2 hrs/wk

Steve Cornelius

Director

Board

0.5 hrs/wk

George Murphy

Director

Board

0.5 hrs/wk

Chad Smith

President

Board

2 hrs/wk

Dick Braun

Vice-President

Board

0.5 hrs/wk

Mimi Larsen

Treasurer

Board

4 hrs/wk

Lisa Braun

Secretary

Board

0.5 hrs/wk

Details

EIN460345818
NTEE codeL21
Subsection04
Ruling date2023-05
Formed1972
Employees0
Volunteers8
ROSHOLT IMPROVEMENT ASSOCIATION INC — Mission, Financials & Grants Received | Grantivo