Frequently Asked Questions

Q. What is Black Hills Vision?

Black Hills Vision is the community investment vehicle formed to raise $5 Million in private sector pledges needed to fund five major economic and community development projects in the six-counties of Butte, Custer, Fall River, Lawrence, Meade, and Pennington in western South Dakota. It was organized and designed to market the Black Hills to potential new business; to create and retain jobs at Ellsworth Air Force Base, assist the development and growth of new businesses in the area, expand air markets for new visitors and provide a solid funding source of housing assistance for low to moderate wage-earners.

Q. Why do we need to worry about creating new jobs?

Global economic conditions have a greater impact on local layoffs. When there are no jobs available, workers leave the area and local businesses suffer because of lower revenues. Job losses in the mining and timber industries are two examples of how the national and global economy can affect the Black Hills. New jobs provide continuing opportunities for improving the quality of life for all employees plus they allow underemployed personnel an opportunity to fully utilize their talents and skills.

Q. Are pledges tax-deductible?
Generally, yes. However the portion of your investment that is tax deductible and the nature of the deduction is dependent upon why you are making the investment and how you make the investment. For businesses, see (a) below. For individuals, see (b) below. In either event, should you have further questions; we recommend you seek advice from your tax or legal counsel regarding the deductibility of your investment.

(a) For Businesses - Black Hills Vision is operated under the Federal Tax ID of the Rapid City Area Chamber of Commerce. The Chamber is a tax-exempt organization under section 501C)6 of the Internal Revenue Code. If ordinary and necessary in the conduct of your business (for example: for marketing, promotion, advertising, business expansion, etc), your investment in Black Hills Vision should be deductible as a trade or business expense.

(b) For Individual - Direct investment in Black Hills Vision are not deductible by individuals as "charitable contributions" for federal income tax purposes, as the Chamber is not a "charity" or section 501(C)3 organization. However, it is possible for individuals to make contributions for Black Hills Vision through the Rapid City Foundation or the West River Foundation or other qualified tax exempt organizations under section 501(C)3 of the Internal Revenue Cde. All such contributions are subject to the regulations of the Foundation and/or appropriate IRS guidelines.

Q. Is this duplicating the efforts of local Economic Development Corporation? Why do we need another group?

Black Hills Vision will make sure that the funds raised for this effort are not used to duplicate efforts of other organizations. Local EDCs stand to gain the most from the aggressive Black Hills marketing effort. The initial life of Black Hills Vision was four years. In the fall of 2009, 11 town hall meetings were held to get public input to determine the effectiveness of the program. The continued existence of the program is because of how well it addresses relevant regional needs at the end of its four-year lifespan.

Q. Why is it called an "investment"? Isn't "investment" just another way of saying contribution?

The IRS does not consider payments made to Black Hills Vision charitable contributions for individuals. The reason we use "investor" is that payments to a project such as this are made as a business with the expectation of a financial return. Businesses can write off investments. Cash given to non-profit charities are deductible because there is no expectation or promise of monetary reward. A return on investment - ROI" - is essential for support by the business community. Jobs created through the program provide income for the workforce and revenue for the businesses of the area. It is truly "Investing In Our Future."