This foundation focused exclusively on local economic development in Rapid City and the Black Hills region, ultimately consolidating its assets and operations into a single regional development organization. Its giving was not programmatic grantmaking to multiple nonprofits but a strategic transfer of institutional resources to Elevate Rapid City to better align city and regional economic development efforts. The foundation was effectively wound down after completing this transfer in 2023.
Highly concentrated and strategic: two grants (both to the same recipient) totaling the foundation's entire corpus, culminating in a full asset and operational transfer to a related organization rather than distributed grantmaking.
$12M
$0
$0
$12M
Most grants fall between $4.6M and $9.5M, with a median of $7.1M.
25th Percentile
$4.6M
Median
$7.1M
75th Percentile
$9.5M
TOM JOHNSON
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Notable grantees: Elevate Rapid City
2024
Source: IRS Form 990-PF, fiscal year 2024.
Most recent grants reported to the IRS.
| Recipient | Location | Amount | Year | Purpose |
|---|---|---|---|---|
| ELEVATE RAPID CITY | RAPID CITY, SD | $12,016,589 | 2024 | DURING 2023, THE BOARD OF DIRECTORS OF RAPID CITY ECONOMIC DEVELOPMENT FOUNDATION, THE CITY OF RAPID CITY, AND THE ECONOMIC DEVELOPMENT ADMINISTRATION APPROVED ELEVATE RAPID CITY (A RELATED ORGANIZATION) ACQUIRING THE ASSETS, LIABILITIES, AND OPERATIONS OF RAPID CITY ECONOMIC DEVELOPMENT FOUNDATION. THE ACQUISITION OCCURRED TO ALIGN OBJECTIVES AND COMBINE THE RESOURCES OF THE TWO ENTITIES TO BETTER PROMOTE AND SUPPORT THE RAPID CITY AND BLACK HILLS REGION. DURING 2023 THE ASSETS AND LIABILITIES OF RAPID CITY ECONOMIC DEVELOPMENT FOUNDATION WERE TRANSFERRED TO AND ASSUMED BY ELEVATE RAPID CITY WITH NO CASH CONSIDERATION TRANSFERRED BETWEEN ENTITIES. THE FOUNDATION WAS OFFICIALLY DISSOLVED BY THE STATE OF SOUTH DAKOTA ON DECEMBER 8, 2023. |
| ELEVATE RAPID CITY | RAPID CITY, SD | $2,128,147 | 2023 | ECONOMIC DEVELOPMENT PROGRAMS |
ELEVATE RAPID CITY
$12,016,589DURING 2023, THE BOARD OF DIRECTORS OF RAPID CITY ECONOMIC DEVELOPMENT FOUNDATION, THE CITY OF RAPID CITY, AND THE ECONOMIC DEVELOPMENT ADMINISTRATION APPROVED ELEVATE RAPID CITY (A RELATED ORGANIZATION) ACQUIRING THE ASSETS, LIABILITIES, AND OPERATIONS OF RAPID CITY ECONOMIC DEVELOPMENT FOUNDATION. THE ACQUISITION OCCURRED TO ALIGN OBJECTIVES AND COMBINE THE RESOURCES OF THE TWO ENTITIES TO BETTER PROMOTE AND SUPPORT THE RAPID CITY AND BLACK HILLS REGION. DURING 2023 THE ASSETS AND LIABILITIES OF RAPID CITY ECONOMIC DEVELOPMENT FOUNDATION WERE TRANSFERRED TO AND ASSUMED BY ELEVATE RAPID CITY WITH NO CASH CONSIDERATION TRANSFERRED BETWEEN ENTITIES. THE FOUNDATION WAS OFFICIALLY DISSOLVED BY THE STATE OF SOUTH DAKOTA ON DECEMBER 8, 2023.
ELEVATE RAPID CITY
$2,128,147ECONOMIC DEVELOPMENT PROGRAMS