Civic Intelligence

Lake Agassiz Certified Development Company

990 • Fiscal year 2023 • EIN 20-1390956

Jan 01, 2023 to Dec 31, 2023 • Filed on Apr 30, 2024

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

67th percentile

0.02x

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

2023 filings • 501(c)4 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

67th percentile

0.02x

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

2023 filings • 501(c)4 • <$500k nonprofits • Source year 2023

Net Margin

47th percentile

1.8%

Higher net margin than 47% of similar nonprofits.

2023 filings • 501(c)4 • <$500k nonprofits • Source year 2023

Top Officer Pay

88th percentile

$600

Higher top officer pay than 88% of similar nonprofits.

Top officer pay equals 0.1% of source-year revenue.

2023 filings • 501(c)4 • <$500k nonprofits • Source year 2023

Asset Growth

48th percentile

0.2%

Faster asset growth than 48% of similar nonprofits.

2023 filings • 501(c)4 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

38th percentile

-3.4%

Faster revenue growth than 38% of similar nonprofits.

2023 filings • 501(c)4 • <$500k nonprofits • Annualized from 2022 to 2023

Assets

Up

$423,645

Up $821 (+0.2%) from 2022

Net Assets

Up

$413,975

Up $7,861 (+1.9%) from 2022

Liabilities

Down

$9,670

Down $7,040 (-42%) from 2022

Revenue

Down

$428,140

Down $14,902 (-3.4%) from 2022

Expenses

Up

$420,279

Up $3,533 (+0.8%) from 2022

Net Income

Down

$7,861

Down $18,435 (-70%) from 2022

Historical Trend

Balance Sheet Trend

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

2023

Assets$423,645
Liabilities$9,670
Net Assets$413,975

Operations Trend

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

2023

Revenue$428,140
Expenses$420,279
Net Income$7,861
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Apr 30, 2024
Return Version
2023v5.0
Gross Receipts
$428,140
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
Savings and Temporary Cash Investments$399,168$381,814▼ $17,354
Accounts Receivable$22,906$29,506▲ $6,600
Prepaid Expenses and Deferred Charges$750$2,475▲ $1,725
Total Assets$422,824$423,645▲ $821
Other Assets Total$0$9,850▲ $9,850
Liabilities
Accounts Payable and Accrued Expenses$6,610$8,375▲ $1,765
Other Liabilities$10,100$1,295▼ $8,805
Total Liabilities$16,710$9,670▼ $7,040
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$406,114$413,975▲ $7,861
Total Net Assets Fund Balance$406,114$413,975▲ $7,861
Total Liabilities and Net Assets / Fund Balance$422,824$423,645▲ $821
Compensation and Service Providers

Employees

NameTitleBaseTotal
Scott SchultzDirector$600$600
Jake Klobuchar Started March 2023Director$575$575
Leroy AdamsTreasurer$550$550
Dan DelahoydeSecretary$475$475
Justin NepplDirector$450$450
Mike BannachPresident$375$375
Michael GustVice President$275$275
Kelsey SmithDirector$225$225
Rick StecklerDirector$225$225

Board Members and Trustees

NameTitle
Amber MetzExecutive Director
Don LitchChief Financial Officer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$428,140
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$7,861

Audited Revenue Reconciliation

Revenue per Audited Statements
$428,140
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$428,140
Total Revenue per Form 990
$428,140
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$402,679
Grants and Similar Amounts Paid$13,850
Salaries, Compensation, and Employee Benefits$3,750
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Office Expenses-$22,218-$22,218
Travel$19,902--$19,902
Advertising$15,000--$15,000
Grants to Domestic Orgs$13,850--$13,850
Insurance-$12,017-$12,017
Fees for Services Accounting-$10,800-$10,800
Current Officers, Directors, Trustees, and Key Employees-$3,750-$3,750
Other Expenses$90$6,226-$90
Total Functional Expenses$306,165$114,114$0$420,279

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$420,279
Total Expenses per Audited Statements$420,279
Total Expenses per Form 990$420,279
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Lake Agassiz Regional CouncilFargo, ND501(c)(4)Economic Development$13,850
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$1,295
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
2024-04-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Donald Litch
Formed
2004
Legal Domicile
Nd
Voting Board Members
9
Independent Board Members
9
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

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. All required tax filings are current.

Raw XML Appendix384 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/Form990PartVIISectionAGrp/TitleTxt3VICE PRESIDENT
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IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
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IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt07861
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0428140
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0399168
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0381814
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0420279
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01295
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO LAKE AGASSIZ REGIONAL DEVELOPMENT CORPORATION
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0428140
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. ALL REQUIRED TAX FILINGS ARE CURRENT.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0420279
IRS990ScheduleD/TotalLiabilityAmt01295
IRS990ScheduleD/TotalRevenuePerForm990Amt0428140
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0428140
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0420279
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt013850
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(4)
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0ECONOMIC DEVELOPMENT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0LAKE AGASSIZ REGIONAL COUNCIL
IRS990ScheduleI/RecipientTable/RecipientEIN0450318258
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0417 MAIN AVENUE
IRS990ScheduleI/RecipientTable/USAddress/CityNm0FARGO
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0ND
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd058103
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/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
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0422824
IRS990/TotalAssetsEOYAmt0423645
IRS990/TotalAssetsGrp/BOYAmt0422824
IRS990/TotalAssetsGrp/EOYAmt0423645
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0114114
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0306165
IRS990/TotalFunctionalExpensesGrp/TotalAmt0420279
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt016710
IRS990/TotalLiabilitiesEOYAmt09670
IRS990/TotalLiabilitiesGrp/BOYAmt016710
IRS990/TotalLiabilitiesGrp/EOYAmt09670
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0406114
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0413975
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0306165
IRS990/TotalProgramServiceRevenueAmt0428140
IRS990/TotalReportableCompFromOrgAmt03750
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0428140
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0428140
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0422824
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0423645
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt019902
IRS990/TravelGrp/TotalAmt019902
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0417 MAIN AVENUE
IRS990/USAddress/CityNm0FARGO
IRS990/USAddress/StateAbbreviationCd0ND
IRS990/USAddress/ZIPCd058103
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0WWW.LAKEAGASSIZCDC.COM
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DONALD LITCH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CFO
ReturnHeader/BusinessOfficerGrp/PhoneNum07012351197
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-04-30
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/IRSResponsiblePrtyInfoCurrInd00
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/PreparationDt02024-04-30
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JEREMY ULMER CPA
ReturnHeader/ReturnTs02024-05-07T11:29:48-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0DONALD
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0LITCH
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

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