Civic Intelligence

Lake Agassiz Certified Development Company

990 • Fiscal year 2016 • EIN 20-1390956

Jan 01, 2016 to Dec 31, 2016 • Filed on Jun 30, 2017

Organization ProfileWWW.LAKEAGASSIZCDC.COM
417 Main AvenueFargo, ND 58103

(701) 235-1197

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

84th percentile

0.24x

Higher debt load relative to assets than 84% of similar nonprofits.

2016 filings • 501(c)4 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

67th percentile

0.02x

Higher debt load relative to revenue than 67% of similar nonprofits.

2016 filings • 501(c)4 • <$500k nonprofits • Source year 2016

Net Margin

75th percentile

16%

Higher net margin than 75% of similar nonprofits.

2016 filings • 501(c)4 • <$500k nonprofits • Source year 2016

Top Officer Pay

85th percentile

$0

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2016 filings • 501(c)4 • <$500k nonprofits • Source year 2016

Asset Growth

87th percentile

36%

Faster asset growth than 87% of similar nonprofits.

2016 filings • 501(c)4 • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

93rd percentile

66%

Faster revenue growth than 93% of similar nonprofits.

2016 filings • 501(c)4 • <$500k nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets84th percentile

Assets

Up

$22,476

Up $6,002 (+36%) from 2015

Net Assets

Up

$17,091

Up $46,943 (+157%) from 2015

Liabilities

Down

$5,385

Down $40,941 (-88%) from 2015

Revenue And Expenses
Liabilities / Revenue67th percentileNet Margin75th percentile

Revenue

Up

$294,641

Up $117,288 (+66%) from 2015

Expenses

Up

$247,698

Up $73,156 (+42%) from 2015

Net Income

Up

$46,943

Up $44,132 (+1570%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth87th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$600K$400K$200K$0-$200KAssets 2010: $12,599Liabilities 2010: $108,084Net Assets 2010: -$95,4852010Assets 2011: $9,333Liabilities 2011: $105,214Net Assets 2011: -$95,8812011Assets 2012: $7,522Liabilities 2012: $89,943Net Assets 2012: -$82,4212012Assets 2013: $7,445Liabilities 2013: $92,718Net Assets 2013: -$85,2732013Assets 2014: $12,596Liabilities 2014: $45,259Net Assets 2014: -$32,6632014Assets 2015: $16,474Liabilities 2015: $46,326Net Assets 2015: -$29,8522015Assets 2016: $22,476Liabilities 2016: $5,385Net Assets 2016: $17,0912016Assets 2017: $53,847Liabilities 2017: $4,958Net Assets 2017: $48,8892017Assets 2018: $107,427Liabilities 2018: $8,084Net Assets 2018: $99,3432018Assets 2019: $143,225Liabilities 2019: $11,190Net Assets 2019: $132,0352019Assets 2020: $254,875Liabilities 2020: $24,091Net Assets 2020: $230,7842020Assets 2021: $439,394Liabilities 2021: $59,576Net Assets 2021: $379,8182021Assets 2022: $422,824Liabilities 2022: $16,710Net Assets 2022: $406,1142022Assets 2023: $423,645Liabilities 2023: $9,670Net Assets 2023: $413,9752023Assets 2024: $451,280Liabilities 2024: $6,292Net Assets 2024: $444,9882024

Highlighted filing

2016

Assets$22,476
Liabilities$5,385
Net Assets$17,091
Open 2016 Filing

Operations Trend

Revenue Growth93rd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KExpenses 2010: $91,5822010Expenses 2011: $86,9782011Expenses 2012: $150,4482012Revenue 2013: $111,235Expenses 2013: $114,087Net Income 2013: -$2,8522013Revenue 2014: $261,753Expenses 2014: $209,143Net Income 2014: $52,6102014Revenue 2015: $177,353Expenses 2015: $174,542Net Income 2015: $2,8112015Revenue 2016: $294,641Expenses 2016: $247,698Net Income 2016: $46,9432016Revenue 2017: $229,976Expenses 2017: $198,178Net Income 2017: $31,7982017Revenue 2018: $286,731Expenses 2018: $236,277Net Income 2018: $50,4542018Revenue 2019: $273,627Expenses 2019: $240,935Net Income 2019: $32,6922019Revenue 2020: $439,478Expenses 2020: $340,729Net Income 2020: $98,7492020Revenue 2021: $537,405Expenses 2021: $388,371Net Income 2021: $149,0342021Revenue 2022: $443,042Expenses 2022: $416,746Net Income 2022: $26,2962022Revenue 2023: $428,140Expenses 2023: $420,279Net Income 2023: $7,8612023Revenue 2024: $431,083Expenses 2024: $400,070Net Income 2024: $31,0132024

Highlighted filing

2016

Revenue$294,641
Expenses$247,698
Net Income$46,943
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Jun 30, 2017
Return Version
2016v3.0
Gross Receipts
$294,641
Mission and Program Overview

Mission

The lake agassiz certified development company (lacdc) is a non-profit corporation whose mission is to assist in maintaining and enhancing the economic viability of communities throughout north dakota. In this capacity, lacdc provides financial resources and technical assistance, through federal, state, and local partnerships, to the state's small business enterprises.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$9,999$12,878▲ $2,879
Cash and Non-Interest-Bearing Accounts$6,475$9,598▲ $3,123
Total Assets$16,474$22,476▲ $6,002
Liabilities
Other Liabilities$41,473$5,030▼ $36,443
Accounts Payable and Accrued Expenses$4,853$355▼ $4,498
Total Liabilities$46,326$5,385▼ $40,941
Net Assets / Fund Balance
Unrestricted Net Assets$-29,852$17,091▲ $46,943
Total Net Assets Fund Balance$-29,852$17,091▲ $46,943
Total Liabilities and Net Assets / Fund Balance$16,474$22,476▲ $6,002
Compensation and Service Providers
Top Officer Pay85th percentile

Board Members and Trustees

NameTitle
W Scott Sayer to June 2016President
Mike BannachVice President
Bernie Sinner to June 2016Director
Jerry EricksonDirector
Meryl HanseyDirector
Michael GustDirector
Steve MclaenDirector
Amber MetzExecutive Director
Don LitchChief Financial Officer
Dan DelahoydeSecretary
Leroy AdamsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$294,641
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$46,943

Audited Revenue Reconciliation

Revenue per Audited Statements
$294,641
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$294,641
Total Revenue per Form 990
$294,641
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$247,698
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$39,236--$39,236
Travel$15,220--$15,220
Office Expenses$7,073--$7,073
Insurance$4,554--$4,554
Advertising$2,619--$2,619
Other Expenses$94--$94
Total Functional Expenses$247,698$0$0$247,698

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$247,698
Total Expenses per Audited Statements$247,698
Total Expenses per Form 990$247,698
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Lake Agassiz Regional Development Corporation$5,030
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“990 is reviewed and approved alongside the audited financial statements.”

Form 990, Part VI, Section B, Line 12

“Board members are required to disclose any conflicts of interest and this has been enforced by amber metz.”

Form 990, Part VI, Section C, Line 19

“AVAILABLE UPON REQUEST.”

Filing and Contact Details

Filer

Filer Name
Lake Agassiz Certified Development
EIN
20-1390956
Phone
7012351197
Address
417 MAIN AVENUE, FARGO, ND 58103

Signing Officer

Name
Donald Litch
Title
CFO
Phone
7012351197
Signed
2017-06-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Donald Litch
Formed
2004
Legal Domicile
Nd
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
0

Preparer

Firm
Fiebiger Swanson West & Copllp
Address
2537 S UNIVERSITY DRIVE, FARGO, ND 58103
Preparer
Jeremy Ulmer CPA
Phone
7012802100
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Professional fees: program service expenses 11,411. Management and general expenses 0. Fundraising expenses 0. Total expenses 11,411. Referral fees: program service expenses 27,825. Management and general expenses 0. Fundraising expenses 0. Total expenses 27,825.”

FORM 990, PART XII, LINE 2C:

“The board of directors and management assume responsibility for oversight of the audit.”

Financial Statement Notes

PART X, LINE 2:

“According to gaap, lacdc is required to record a liability for uncertain tax positions when it is more likely than not that a loss has been incurred and the amount can be reasonably estimated. As of december 31, 2016, no such liability existed. Management will continually evaluate expiring statutes of limitations, audits, proposed settlements, changes in tax law, and new authoritative rulings.”

Raw XML Appendix368 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO LAKE AGASSIZ REGIONAL DEVELOPMENT CORPORATION
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0294641
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCORDING TO GAAP, LACDC IS REQUIRED TO RECORD A LIABILITY FOR UNCERTAIN TAX POSITIONS WHEN IT IS MORE LIKELY THAN NOT THAT A LOSS HAS BEEN INCURRED AND THE AMOUNT CAN BE REASONABLY ESTIMATED. AS OF DECEMBER 31, 2016, NO SUCH LIABILITY EXISTED. MANAGEMENT WILL CONTINUALLY EVALUATE EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW, AND NEW AUTHORITATIVE RULINGS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0247698
IRS990ScheduleD/TotalLiabilityAmt05030
IRS990ScheduleD/TotalRevenuePerForm990Amt0294641
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0294641
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0247698
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0990 IS REVIEWED AND APPROVED ALONGSIDE THE AUDITED FINANCIAL STATEMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD MEMBERS ARE REQUIRED TO DISCLOSE ANY CONFLICTS OF INTEREST AND THIS HAS BEEN ENFORCED BY AMBER METZ.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 11,411. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 11,411. REFERRAL FEES: PROGRAM SERVICE EXPENSES 27,825. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 27,825.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD OF DIRECTORS AND MANAGEMENT ASSUME RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt016474
IRS990/TotalAssetsEOYAmt022476
IRS990/TotalAssetsGrp/BOYAmt016474
IRS990/TotalAssetsGrp/EOYAmt022476
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0247698
IRS990/TotalFunctionalExpensesGrp/TotalAmt0247698
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt046326
IRS990/TotalLiabilitiesEOYAmt05385
IRS990/TotalLiabilitiesGrp/BOYAmt046326
IRS990/TotalLiabilitiesGrp/EOYAmt05385
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-29852
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt017091
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0247698
IRS990/TotalProgramServiceRevenueAmt0294641
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0294641
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0294641
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt016474
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt022476
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt015220
IRS990/TravelGrp/TotalAmt015220
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-29852
IRS990/UnrestrictedNetAssetsGrp/EOYAmt017091
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0417 MAIN AVENUE
IRS990/USAddress/CityNm0FARGO
IRS990/USAddress/StateAbbreviationCd0ND
IRS990/USAddress/ZIPCd058103
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.LAKEAGASSIZCDC.COM
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DONALD LITCH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CFO
ReturnHeader/BusinessOfficerGrp/PhoneNum07012351197
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-06-30
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LAKE AGASSIZ CERTIFIED DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0COMPANY
ReturnHeader/Filer/BusinessNameControlTxt0LAKE
ReturnHeader/Filer/EIN0201390956
ReturnHeader/Filer/PhoneNum07012351197
ReturnHeader/Filer/USAddress/AddressLine1Txt0417 MAIN AVENUE
ReturnHeader/Filer/USAddress/CityNm0FARGO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0ND
ReturnHeader/Filer/USAddress/ZIPCd058103
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId03EC390BB42289AA7BB3844E4458827D460035801
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId03EC390BB42289AA7BB3844E4458827D460035801
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0206.51.203.162
ReturnHeader/FilingSecurityInformation/IPDt02017-06-30
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm011:24:07
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0416134264
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0FIEBIGER SWANSON WEST & COPLLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02537 S UNIVERSITY DRIVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0FARGO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0ND
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd058103
ReturnHeader/PreparerPersonGrp/PhoneNum07012802100
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JEREMY ULMER CPA
ReturnHeader/ReturnTs02017-07-31T11:53:06-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$22,476
Liabilities
$5,385
Net assets
$17,091
Revenue
$294,641
Expenses
$247,698
Net income
$46,943
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.51$0.06$4.45$4.31$4.00$0.31
2023Detailed filing. Detailed filing data is available for this year.$4.24$0.10$4.14$4.28$4.20$0.08
2022Detailed filing. Detailed filing data is available for this year.$4.23$0.17$4.06$4.43$4.17$0.26
2021Detailed filing. Detailed filing data is available for this year.$4.39$0.60$3.80$5.37$3.88$1.49
2020Detailed filing. Detailed filing data is available for this year.$2.55$0.24$2.31$4.39$3.41$0.99
2019Detailed filing. Detailed filing data is available for this year.$1.43$0.11$1.32$2.74$2.41$0.33
2018Detailed filing. Detailed filing data is available for this year.$1.07$0.08$0.99$2.87$2.36$0.50
2017Detailed filing. Detailed filing data is available for this year.$0.54$0.05$0.49$2.30$1.98$0.32
2016Detailed filing. Detailed filing data is available for this year.$0.22$0.05$0.17$2.95$2.48$0.47
2015Detailed filing. Detailed filing data is available for this year.$0.16$0.46$0.30$1.77$1.75$0.03
2014Detailed filing. Detailed filing data is available for this year.$0.13$0.45$0.33$2.62$2.09$0.53
2013Detailed filing. Detailed filing data is available for this year.$0.07$0.93$0.85$1.11$1.14$0.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.08$0.90$0.82$1.50
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.09$1.05$0.96$0.87
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.13$1.08$0.95$0.92