Civic Intelligence

Heartland Lakes Development Commission

990 • Fiscal year 2020 • EIN 20-4208381

Jan 01, 2020 to Dec 31, 2020 • Filed on Apr 05, 2022

Organization ProfileHEARTLANDLAKESDEVELOPMENT.ORG

View Organization Page

301 Court AvePark Rapids, MN 56470

(218) 638-7980

Siviq Scores

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

Liabilities / Assets

38th percentile

0.04x

Higher debt load relative to assets than 38% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

20th percentile

0.01x

Higher debt load relative to revenue than 20% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

49th percentile

4.8%

Higher net margin than 49% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

39th percentile

$7,500

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.4% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

95th percentile

148%

Faster asset growth than 95% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2020

Revenue Growth

97th percentile

279%

Faster revenue growth than 97% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2020

Balance Sheet
Liabilities / Assets38th percentile

Assets

Up

$363,518

Up $304,641 (+517%) from 2018

Net Assets

$348,191

No earlier filing loaded for comparison.

Liabilities

Up

$15,327

Up $15,221 (+14359%) from 2018

Revenue And Expenses
Liabilities / Revenue20th percentileNet Margin49th percentile

Revenue

Up

$2,038,493

Up $1,896,518 (+1336%) from 2018

Expenses

Up

$1,939,901

Up $1,808,369 (+1375%) from 2018

Net Income

Up

$98,592

Up $88,149 (+844%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth95th percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2011: $18,840Liabilities 2011: $12,1362011Assets 2012: $66,335Liabilities 2012: $28,625Net Assets 2012: $37,7102012Assets 2013: $44,742Liabilities 2013: $3,6752013Assets 2014: $46,690Liabilities 2014: $4,2042014Assets 2015: $50,107Liabilities 2015: $4,8062015Assets 2016: $59,104Liabilities 2016: $11,1662016Assets 2017: $58,552Liabilities 2017: $10,8232017Assets 2018: $58,877Liabilities 2018: $1062018Assets 2020: $363,518Liabilities 2020: $15,327Net Assets 2020: $348,1912020Assets 2021: $422,634Liabilities 2021: $53,816Net Assets 2021: $368,8182021Assets 2022: $507,422Liabilities 2022: $110,270Net Assets 2022: $397,1522022Assets 2023: $3,070,645Liabilities 2023: $2,104,193Net Assets 2023: $966,4522023Assets 2024: $6,754,730Liabilities 2024: $5,653,384Net Assets 2024: $1,101,3462024

Highlighted filing

2020

Assets$363,518
Liabilities$15,327
Net Assets$348,191
Open 2020 Filing

Operations Trend

Revenue Growth97th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $134,055Expenses 2011: $131,174Net Income 2011: $2,8812011Revenue 2012: $259,597Expenses 2012: $228,588Net Income 2012: $31,0092012Revenue 2013: $129,000Expenses 2013: $125,643Net Income 2013: $3,3572013Revenue 2014: $132,500Expenses 2014: $131,307Net Income 2014: $1,1932014Revenue 2015: $144,630Expenses 2015: $141,815Net Income 2015: $2,8152015Revenue 2016: $157,015Expenses 2016: $154,378Net Income 2016: $2,6372016Revenue 2017: $149,212Expenses 2017: $149,421Net Income 2017: -$2092017Revenue 2018: $141,975Expenses 2018: $131,532Net Income 2018: $10,4432018Revenue 2020: $2,038,493Expenses 2020: $1,939,901Net Income 2020: $98,5922020Revenue 2021: $742,491Expenses 2021: $568,364Net Income 2021: $174,1272021Revenue 2022: $379,772Expenses 2022: $351,438Net Income 2022: $28,3342022Revenue 2023: $922,283Expenses 2023: $588,572Net Income 2023: $333,7112023Revenue 2024: $887,618Expenses 2024: $752,724Net Income 2024: $134,8942024

Highlighted filing

2020

Revenue$2,038,493
Expenses$1,939,901
Net Income$98,592
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Apr 5, 2022
Return Version
2020v4.1
Gross Receipts
$2,038,493
Mission and Program Overview

Mission

Countywide economic development

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$80,158$180,180▲ $100,022
Savings and Temporary Cash Investments-$118,039-
Accounts Receivable$82,000$64,083▼ $17,917
Prepaid Expenses and Deferred Charges-$622-
Land, Buildings, and Equipment, Net$1,676$594▼ $1,082
Total Assets$163,834$363,518▲ $199,684
Liabilities
Other Liabilities$59,235--
Deferred Revenue-$10,000-
Accounts Payable and Accrued Expenses-$5,327-
Total Liabilities$59,235$15,327▼ $43,908
Net Assets / Fund Balance
Total Net Assets Fund Balance$104,599$348,191▲ $243,592
Total Liabilities and Net Assets / Fund Balance$163,834$363,518▲ $199,684
Compensation and Service Providers
Top Officer Pay39th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Mary ThompsonExecutive DirectorPT$7,500$7,500

Board Members and Trustees

NameTitle
Tom ConwayChair
Charlene ChristensenVice-chair
Butch De La HuntExec Director
Angel WeasnerAdministrator
Kathy HenryBanking
David De La HuntBroadcasting
Christine FoxElectric Coop Manager
Eric WolffReal Estate Broker
Ryan LecknerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,032,609
Program Service Revenue
$0
Investment Income
$123
Other Revenue
$5,761
All Other Contributions
$21,000
Change in Net Assets
$98,592
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,852,148
Other Expenses$77,100
Salaries, Compensation, and Employee Benefits$10,653
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$1,852,148--$1,852,148
Fees for Services Management-$60,000-$60,000
Current Officers, Directors, Trustees, and Key Employees-$7,500-$7,500
Information Technology$6,988--$6,988
Insurance$2,018--$2,018
Other Expenses$1,800--$1,800
Payroll Taxes-$1,648-$1,648
Office Expenses$1,602--$1,602
Other Employee Benefits-$1,505-$1,505
Depreciation Depletion$1,082--$1,082
Advertising$500--$500
Fees for Services Accounting$178--$178
Fees for Services Other$125--$125
Total Functional Expenses$1,869,248$70,653$0$1,939,901
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
Lobbying activity
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Heartland Lakes Development Commission
EIN
20-4208381
Phone
2186387980
Address
301 COURT AVE, Park Rapids, MN 56470

Signing Officer

Name
Mary Thompson
Title
Executive Director
Phone
2186387980
Signed
2022-04-05
Discuss with paid preparer
No

Organization Details

Principal Officer
Mary Thompson
Formed
2005
Legal Domicile
Mn
Voting Board Members
0
Independent Board Members
0
Employees
1

Preparer

Firm
H and R Block
Address
511 S PARK AVE, PARK RAPIDS, MN 56470
Preparer
David Green
Phone
2187329713
Supplemental Narrative

Additional Explanations

Part III, 1.

“The most significant accomplishment of Heartland Lakes Development Corporation in 2020 was the distribution of $1.8 million of business assistance payments from the CARES Act provided to Hubbard County by the Federal government. The funding was provided as grants to 98 eligible businesses that had documented losses as a result of the pandemic related restrictions and closures. In addition, another 30 organizations received $417,000 of funding that was made available by the State of Minnesota also passed through Hubbard County.”

Part IX, 13.

“Office expenses: office supplies - 1328, postage - 50, subscriptions - 100, telephone - 124.”

Part IX, 14.

“Information technology: software - 2013, website - 4975.”

Part IX, 23.

“Insurance: business insurance - 1918, bond insurance 100.”

Part XI, 9.

“$145,000 was received from the city of park rapids for covid business assistance to be given to qualifying local businesses as a loan. The money was put into an escrow account and the dispersed funds are located in the covid business assistance receivable. This money will be paid back to the city of park rapids at the conclusion of the loans.”

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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0149212
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0157015
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02633756
IRS990ScheduleA/TotalSupportAmt05267512
IRS990/ScheduleBRequiredInd0false
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The most significant accomplishment of Heartland Lakes Development Corporation in 2020 was the distribution of $1.8 million of business assistance payments from the CARES Act provided to Hubbard County by the Federal government. The funding was provided as grants to 98 eligible businesses that had documented losses as a result of the pandemic related restrictions and closures. In addition, another 30 organizations received $417,000 of funding that was made available by the State of Minnesota also passed through Hubbard County.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1OFFICE EXPENSES: OFFICE SUPPLIES - 1328, POSTAGE - 50, SUBSCRIPTIONS - 100, TELEPHONE - 124.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2INFORMATION TECHNOLOGY: SOFTWARE - 2013, WEBSITE - 4975.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3INSURANCE: BUSINESS INSURANCE - 1918, BOND INSURANCE 100.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4$145,000 WAS RECEIVED FROM THE CITY OF PARK RAPIDS FOR COVID BUSINESS ASSISTANCE TO BE GIVEN TO QUALIFYING LOCAL BUSINESSES AS A LOAN. THE MONEY WAS PUT INTO AN ESCROW ACCOUNT AND THE DISPERSED FUNDS ARE LOCATED IN THE COVID BUSINESS ASSISTANCE RECEIVABLE. THIS MONEY WILL BE PAID BACK TO THE CITY OF PARK RAPIDS AT THE CONCLUSION OF THE LOANS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0PART III, 1.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1PART IX, 13.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2PART IX, 14.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3PART IX, 23.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4PART XI, 9.
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TaxExemptInterestAmt00
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0163834
IRS990/TotalAssetsEOYAmt0363518
IRS990/TotalAssetsGrp/BOYAmt0163834
IRS990/TotalAssetsGrp/EOYAmt0363518
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt02032609
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt070653
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01869248
IRS990/TotalFunctionalExpensesGrp/TotalAmt01939901
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt059235
IRS990/TotalLiabilitiesEOYAmt015327
IRS990/TotalLiabilitiesGrp/BOYAmt059235
IRS990/TotalLiabilitiesGrp/EOYAmt015327
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0104599
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0348191
IRS990/TotalProgramServiceExpensesAmt01939901
IRS990/TotalReportableCompFromOrgAmt07500
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0123
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02038493
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0163834
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0363518
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt0301 COURT AVE
IRS990/USAddress/CityNm0Park Rapids
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd056470
IRS990/VotingMembersGoverningBodyCnt00
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0HEARTLANDLAKESDEVELOPMENT.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0MARY THOMPSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum02186387980
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-04-05
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HEARTLAND LAKES DEVELOPMENT COMMISSION
ReturnHeader/Filer/BusinessNameControlTxt0HEAR
ReturnHeader/Filer/EIN0204208381
ReturnHeader/Filer/PhoneNum02186387980
ReturnHeader/Filer/USAddress/AddressLine1Txt0301 COURT AVE
ReturnHeader/Filer/USAddress/CityNm0Park Rapids
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd056470
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0452473946
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0H AND R BLOCK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0511 S PARK AVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PARK RAPIDS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd056470
ReturnHeader/PreparerPersonGrp/PhoneNum02187329713
ReturnHeader/PreparerPersonGrp/PreparationDt02022-05-23
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DAVID GREEN
ReturnHeader/ReturnTs02022-05-23T15:23:18Z
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0MARY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0THOMPSON
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$363,518
Liabilities
$15,327
Net assets
$348,191
Revenue
$2,038,493
Expenses
$1,939,901
Net income
$98,592
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.75$5.65$1.10$0.89$0.75$0.13
2023Summary only. Only limited summary data is available for this year.$3.07$2.10$0.97$0.92$0.59$0.33
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.51$0.11$0.40$0.38$0.35$0.03
2021Summary only. Only limited summary data is available for this year.$0.42$0.05$0.37$0.74$0.57$0.17
2020Detailed filing. Detailed filing data is available for this year.$0.36$0.02$0.35$2.04$1.94$0.10
2018Summary only. Only limited summary data is available for this year.$0.06$0.00$0.14$0.13$0.01
2017Summary only. Only limited summary data is available for this year.$0.06$0.01$0.15$0.15$0.00
2016Summary only. Only limited summary data is available for this year.$0.06$0.01$0.16$0.15$0.00
2015Summary only. Only limited summary data is available for this year.$0.05$0.00$0.14$0.14$0.00
2014Summary only. Only limited summary data is available for this year.$0.05$0.00$0.13$0.13$0.00
2013Summary only. Only limited summary data is available for this year.$0.04$0.00$0.13$0.13$0.00
2012Summary only. Only limited summary data is available for this year.$0.07$0.03$0.04$0.26$0.23$0.03
2011Summary only. Only limited summary data is available for this year.$0.02$0.01$0.13$0.13$0.00