Civic Intelligence

Lake Agassiz Certified Development Company

990 • Fiscal year 2021 • EIN 20-1390956

Jan 01, 2021 to Dec 31, 2021 • Filed on Jun 02, 2022

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

69th percentile

0.14x

Higher debt load relative to assets than 69% of similar nonprofits.

2021 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

61st percentile

0.11x

Higher debt load relative to revenue than 61% of similar nonprofits.

2021 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2021

Net Margin

71st percentile

28%

Higher net margin than 71% of similar nonprofits.

2021 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

73rd percentile

$1,250

Higher top officer pay than 73% of similar nonprofits.

Top officer pay equals 0.2% of source-year revenue.

2021 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2021

Asset Growth

93rd percentile

72%

Faster asset growth than 93% of similar nonprofits.

2021 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

68th percentile

22%

Faster revenue growth than 68% of similar nonprofits.

2021 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets69th percentile

Assets

Up

$439,394

Up $184,519 (+72%) from 2020

Net Assets

Up

$379,818

Up $149,034 (+65%) from 2020

Liabilities

Up

$59,576

Up $35,485 (+147%) from 2020

Revenue And Expenses
Liabilities / Revenue61st percentileNet Margin71st percentile

Revenue

Up

$537,405

Up $97,927 (+22%) from 2020

Expenses

Up

$388,371

Up $47,642 (+14%) from 2020

Net Income

Up

$149,034

Up $50,285 (+51%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth93rd 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

2021

Assets$439,394
Liabilities$59,576
Net Assets$379,818
Open 2021 Filing

Operations Trend

Revenue Growth68th 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

2021

Revenue$537,405
Expenses$388,371
Net Income$149,034
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Jun 2, 2022
Return Version
2021v4.2
Gross Receipts
$537,405
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
Cash and Non-Interest-Bearing Accounts$234,370$416,274▲ $181,904
Accounts Receivable$20,505$19,529▼ $976
Prepaid Expenses and Deferred Charges$0$3,591▲ $3,591
Total Assets$254,875$439,394▲ $184,519
Liabilities
Other Liabilities$19,800$30,034▲ $10,234
Accounts Payable and Accrued Expenses$4,291$29,542▲ $25,251
Total Liabilities$24,091$59,576▲ $35,485
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$230,784$379,818▲ $149,034
Total Net Assets Fund Balance$230,784$379,818▲ $149,034
Total Liabilities and Net Assets / Fund Balance$254,875$439,394▲ $184,519
Compensation and Service Providers
Top Officer Pay73rd percentile

Employees

NameTitleBaseTotal
Scott SchultzDirector$1,250$1,250
Dan DelahoydeSecretary$1,125$1,125
Leroy AdamsTreasurer$1,100$1,100
Justin NepplDirector$875$875
Michael GustDirector$850$850
Mike BannachPresident$850$850
Tim OehikeDirector$750$750
Tracy Green Resigned Aug 2021Director$550$550
Steve Mclaen Resigned Aug 2021Vice President$200$200
Rick Steckler Started Dec 2021Director$100$100

Board Members and Trustees

NameTitle
Amber MetzExecutive Director
Don LitchChief Financial Officer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$537,405
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$149,034

Audited Revenue Reconciliation

Revenue per Audited Statements
$537,405
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$537,405
Total Revenue per Form 990
$537,405
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$380,721
Salaries, Compensation, and Employee Benefits$7,650
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Office Expenses-$13,778-$13,778
Fees for Services Accounting-$10,750-$10,750
Insurance-$7,712-$7,712
Current Officers, Directors, Trustees, and Key Employees-$7,650-$7,650
Other Expenses$35,653$6,965-$6,965
Travel$3,709--$3,709
Advertising$1,554--$1,554
All Other Expenses$17--$17
Total Functional Expenses$261,837$126,534$0$388,371

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$388,371
Total Expenses per Audited Statements$388,371
Total Expenses per Form 990$388,371
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$30,034
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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
Yes
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 12C

“Board members are required to disclose any conflicts of interest and this has been enforced by the executive director. They each sign a conlifct of interest policy.”

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
2022-06-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Donald Litch
Formed
2004
Legal Domicile
Nd
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
0

Preparer

Firm
Brady Martz & Associates Pc
Address
2537 S UNIVERSITY DRIVE, FARGO, ND 58103
Preparer
Jeremy Ulmer CPA
Phone
7012802100
Supplemental Narrative

Additional Explanations

Part XII, Line 2 Explanation

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

Financial Statement Notes

PART X, LINE 2:

“It is the opinion of management that lacdc has no significant uncertain tax positions that would be subject to change upon examination. The income tax returns of lacdc are subject to examination by the irs and state tax authorities, generally for three years after they were filed.”

Raw XML Appendix379 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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IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt0334679
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0439478
IRS990/PYRevenuesLessExpensesAmt098749
IRS990/PYSalariesCompEmpBnftPaidAmt06050
IRS990/PYTotalExpensesAmt0340729
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0439478
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0149034
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0537405
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0388371
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt030034
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO LAKE AGASSIZ REGIONAL DEVELOPMENT CORPORATION
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0537405
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0IT IS THE OPINION OF MANAGEMENT THAT LACDC HAS NO SIGNIFICANT UNCERTAIN TAX POSITIONS THAT WOULD BE SUBJECT TO CHANGE UPON EXAMINATION. THE INCOME TAX RETURNS OF LACDC ARE SUBJECT TO EXAMINATION BY THE IRS AND STATE TAX AUTHORITIES, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0388371
IRS990ScheduleD/TotalLiabilityAmt030034
IRS990ScheduleD/TotalRevenuePerForm990Amt0537405
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0537405
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0388371
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 THE EXECUTIVE DIRECTOR. THEY EACH SIGN A CONLIFCT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF DIRECTORS AND MANAGEMENT ASSUME RESPONSIBILITY FOR OVERSIGHT OF AUDIT.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3PART XII, LINE 2 EXPLANATION
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0254875
IRS990/TotalAssetsEOYAmt0439394
IRS990/TotalAssetsGrp/BOYAmt0254875
IRS990/TotalAssetsGrp/EOYAmt0439394
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0126534
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0261837
IRS990/TotalFunctionalExpensesGrp/TotalAmt0388371
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt024091
IRS990/TotalLiabilitiesEOYAmt059576
IRS990/TotalLiabilitiesGrp/BOYAmt024091
IRS990/TotalLiabilitiesGrp/EOYAmt059576
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0230784
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0379818
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0261837
IRS990/TotalProgramServiceRevenueAmt0537405
IRS990/TotalReportableCompFromOrgAmt07650
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0537405
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0537405
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0254875
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0439394
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt03709
IRS990/TravelGrp/TotalAmt03709
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0417 MAIN AVENUE
IRS990/USAddress/CityNm0FARGO
IRS990/USAddress/StateAbbreviationCd0ND
IRS990/USAddress/ZIPCd058103
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0WWW.LAKEAGASSIZCDC.COM
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DONALD LITCH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CFO
ReturnHeader/BusinessOfficerGrp/PhoneNum07012351197
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-06-02
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/PreparerFirmGrp/PreparerFirmEIN0450310328
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BRADY MARTZ & ASSOCIATES PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02537 S UNIVERSITY DRIVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0FARGO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0ND
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd058103
ReturnHeader/PreparerPersonGrp/PhoneNum07012802100
ReturnHeader/PreparerPersonGrp/PreparationDt02022-06-01
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JEREMY ULMER CPA
ReturnHeader/ReturnTs02022-06-09T08:22:40-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0DONALD
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0LITCH
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$439,394
Liabilities
$59,576
Net assets
$379,818
Revenue
$537,405
Expenses
$388,371
Net income
$149,034
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