Civic Intelligence

Area Partnership for Economic Expansion

990 • Fiscal year 2021 • EIN 32-0079166

Jan 01, 2021 to Dec 31, 2021 • Filed on Apr 15, 2022

Organization ProfileWWW.APEXGETSBUSINESS.COM

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306 W Superior Street Suite 902Duluth, MN 55802

(218) 740-3667

Siviq Scores

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

Liabilities / Assets

90th percentile

0.56x

Higher debt load relative to assets than 90% of similar nonprofits.

2021 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

84th percentile

0.47x

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

2021 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2021

Net Margin

36th percentile

5.3%

Higher net margin than 36% of similar nonprofits.

2021 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

91st percentile

$175,015

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 19.6% of source-year revenue.

2021 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2021

Asset Growth

53rd percentile

13%

Faster asset growth than 53% of similar nonprofits.

2021 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

52nd percentile

8.4%

Faster revenue growth than 52% of similar nonprofits.

2021 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets90th percentile

Assets

Up

$746,724

Up $86,159 (+13%) from 2020

Net Assets

Up

$326,556

Up $47,581 (+17%) from 2020

Liabilities

Up

$420,168

Up $38,578 (+10%) from 2020

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin36th percentile

Revenue

Up

$893,820

Up $69,620 (+8.4%) from 2020

Expenses

Up

$846,239

Up $66,764 (+8.6%) from 2020

Net Income

Up

$47,581

Up $2,856 (+6.4%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth53rd percentile

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

$1.0M$500K$0Assets 2010: $378,920Liabilities 2010: $109,795Net Assets 2010: $269,1252010Assets 2011: $637,490Liabilities 2011: $314,169Net Assets 2011: $323,3212011Assets 2012: $410,287Liabilities 2012: $226,098Net Assets 2012: $184,1892012Assets 2013: $403,857Liabilities 2013: $220,964Net Assets 2013: $182,8932013Assets 2014: $478,538Liabilities 2014: $266,154Net Assets 2014: $212,3842014Assets 2015: $496,440Liabilities 2015: $273,944Net Assets 2015: $222,4962015Assets 2016: $488,678Liabilities 2016: $251,062Net Assets 2016: $237,6162016Assets 2017: $423,873Liabilities 2017: $186,616Net Assets 2017: $237,2572017Assets 2018: $568,357Liabilities 2018: $332,101Net Assets 2018: $236,2562018Assets 2019: $522,678Liabilities 2019: $288,428Net Assets 2019: $234,2502019Assets 2020: $660,565Liabilities 2020: $381,590Net Assets 2020: $278,9752020Assets 2021: $746,724Liabilities 2021: $420,168Net Assets 2021: $326,5562021Assets 2022: $463,783Liabilities 2022: $141,909Net Assets 2022: $321,8742022Assets 2023: $694,336Liabilities 2023: $272,252Net Assets 2023: $422,0842023Assets 2024: $880,510Liabilities 2024: $429,924Net Assets 2024: $450,5862024

Highlighted filing

2021

Assets$746,724
Liabilities$420,168
Net Assets$326,556
Open 2021 Filing

Operations Trend

Revenue Growth52nd percentile

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

$1.0M$500K$0-$500KExpenses 2010: $622,8072010Expenses 2011: $669,1642011Expenses 2012: $698,9652012Revenue 2013: $639,116Expenses 2013: $640,412Net Income 2013: -$1,2962013Revenue 2014: $776,772Expenses 2014: $747,281Net Income 2014: $29,4912014Revenue 2015: $719,110Expenses 2015: $708,998Net Income 2015: $10,1122015Revenue 2016: $757,427Expenses 2016: $742,307Net Income 2016: $15,1202016Revenue 2017: $744,149Expenses 2017: $744,508Net Income 2017: -$3592017Revenue 2018: $844,255Expenses 2018: $845,256Net Income 2018: -$1,0012018Revenue 2019: $858,003Expenses 2019: $860,009Net Income 2019: -$2,0062019Revenue 2020: $824,200Expenses 2020: $779,475Net Income 2020: $44,7252020Revenue 2021: $893,820Expenses 2021: $846,239Net Income 2021: $47,5812021Revenue 2022: $822,306Expenses 2022: $826,988Net Income 2022: -$4,6822022Revenue 2023: $833,326Expenses 2023: $733,116Net Income 2023: $100,2102023Revenue 2024: $773,984Expenses 2024: $745,482Net Income 2024: $28,5022024

Highlighted filing

2021

Revenue$893,820
Expenses$846,239
Net Income$47,581
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Apr 15, 2022
Return Version
2021v4.0
Gross Receipts
$893,820
Mission and Program Overview

Mission

Promote and develop economic expansion in duluth and northeastern mn and northwestern wisconsin

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$627,152$710,590▲ $83,438
Land, Buildings, and Equipment, Net$13,619$12,492▼ $1,127
Prepaid Expenses and Deferred Charges$4,294$12,475▲ $8,181
Accounts Receivable$15,500$11,167▼ $4,333
Total Assets$660,565$746,724▲ $86,159
Liabilities
Deferred Revenue$347,081$400,369▲ $53,288
Accounts Payable and Accrued Expenses$34,509$19,799▼ $14,710
Total Liabilities$381,590$420,168▲ $38,578
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$278,975$326,556▲ $47,581
Total Net Assets Fund Balance$278,975$326,556▲ $47,581
Total Liabilities and Net Assets / Fund Balance$660,565$746,724▲ $86,159

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$12,492$122,515$135,007
Compensation and Service Providers
Top Officer Pay91st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Brian HansonCEO/presidenFT$166,015$9,000$175,015
Brian HansonCEO/president-$166,015$9,000$175,015

Board Members and Trustees

NameTitle
Lisa BodineChair
Steve BurgessPast Chair
Frank FredericksonVice Chair
Craig FellmanAt Large Mem
Deb DelucaAt Large Mem
Lendley BlackAt Large Mem
Lorraine LittleAt Large Mem
Mke BoeselagerAt Large Mem
Brad BeardSecretary
Brian ThunTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$722,789
Program Service Revenue
$170,163
Investment Income
$868
Other Revenue
$0
All Other Contributions
$76,372
Change in Net Assets
$47,581

Audited Revenue Reconciliation

Revenue per Audited Statements
$893,820
Total Revenue per Audited Statements
$893,820
Total Revenue per Form 990
$893,820
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$477,160
Other Expenses$369,079
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$231,311
Current Officers, Directors, Trustees, and Key Employees---$166,015
Advertising---$57,329
Fees for Services Other---$43,865
Occupancy---$40,475
Other Employee Benefits---$33,566
Payroll Taxes---$28,655
Travel---$27,889
Pension Plan Contributions---$17,613
Conferences and Meetings---$15,062
Office Expenses---$13,108
Depreciation Depletion---$4,534
Other Expenses---$2,700
All Other Expenses---$100
Total Functional Expenses$0$0$0$846,239

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$846,239
Total Expenses per Audited Statements$846,239
Total Expenses per Form 990$846,239
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
In-house lobbying only
Yes
Subject to proxy tax
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
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, Page 6, Part VI, Line 6

“Various business entities are members”

Form 990, Page 6, Part VI, Line 7A

“Member elect governing board”

Form 990, Page 6, Part VI, Line 11B

“Reviewed by executive committee and finance committee at meeting.”

Form 990, Page 6, Part VI, Line 12C

“Annually discuss and acknowledge any conflicts.”

Form 990, Page 6, Part VI, Line 15A

“Executive committee performs evaluation of ceo and determines compensation based on performance.”

Form 990, Page 6, Part VI, Line 19

“Documents available upon request.”

Filing and Contact Details

Filer

Filer Name
Area Partnership for Economic
EIN
32-0079166
Phone
2187403667
Address
306 W SUPERIOR STREET SUITE 902, DULUTH, MN 55802

Signing Officer

Name
Brian Hanson
Title
CEO/president
Phone
2187403667
Signed
2022-04-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brian Hanson
Formed
2003
Legal Domicile
Mn
Voting Board Members
10
Independent Board Members
10
Employees
10

Preparer

Firm
Licari Larsen and Company
Address
130 W SUPERIOR ST STE 712, DULUTH, MN 55802
Preparer
Steven S Licari CPA
Phone
2187222226
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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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IRS990ScheduleC/OnlyInHouseLobbyingInd0true
IRS990ScheduleC/SubstantiallyAllDuesNondedInd0false
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt0122515
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0135007
IRS990ScheduleD/ExpensesSubtotalAmt0846239
IRS990ScheduleD/RevenueSubtotalAmt0893820
IRS990ScheduleD/TotalBookValueLandBuildingsAmt012492
IRS990ScheduleD/TotalExpensesPerForm990Amt0846239
IRS990ScheduleD/TotalRevenuePerForm990Amt0893820
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0893820
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IRS990/ScheduleJRequiredInd0true
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt09000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0BRIAN HANSON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CEO/PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0175015
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0VARIOUS BUSINESS ENTITIES ARE MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBER ELECT GOVERNING BOARD
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2REVIEWED BY EXECUTIVE COMMITTEE AND FINANCE COMMITTEE AT MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ANNUALLY DISCUSS AND ACKNOWLEDGE ANY CONFLICTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4EXECUTIVE COMMITTEE PERFORMS EVALUATION OF CEO AND DETERMINES COMPENSATION BASED ON PERFORMANCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5DOCUMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0true
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0660565
IRS990/TotalAssetsEOYAmt0746724
IRS990/TotalAssetsGrp/BOYAmt0660565
IRS990/TotalAssetsGrp/EOYAmt0746724
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalContributionsAmt0722789
IRS990/TotalEmployeeCnt010
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0846239
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0381590
IRS990/TotalLiabilitiesEOYAmt0420168
IRS990/TotalLiabilitiesGrp/BOYAmt0381590
IRS990/TotalLiabilitiesGrp/EOYAmt0420168
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0278975
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0326556
IRS990/TotalOtherCompensationAmt09000
IRS990/TotalProgramServiceExpensesAmt0846239
IRS990/TotalProgramServiceRevenueAmt0170163
IRS990/TotalReportableCompFromOrgAmt0166015
IRS990/TotalRevenueGrp/ExclusionAmt0868
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0170163
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0893820
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0660565
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0746724
IRS990/TravelGrp/TotalAmt027889
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IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0306 W SUPERIOR STREET
IRS990/USAddress/AddressLine2Txt0SUITE 902
IRS990/USAddress/CityNm0DULUTH
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd055802
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0WWW.APEXGETSBUSINESS.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0BRIAN HANSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO/PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02187403667
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-04-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0AREA PARTNERSHIP FOR ECONOMIC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0EXPANSION
ReturnHeader/Filer/BusinessNameControlTxt0AREA
ReturnHeader/Filer/EIN0320079166
ReturnHeader/Filer/PhoneNum02187403667
ReturnHeader/Filer/USAddress/AddressLine1Txt0306 W SUPERIOR STREET SUITE 902
ReturnHeader/Filer/USAddress/CityNm0DULUTH
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd055802
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0411806729
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0LICARI LARSEN AND COMPANY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0130 W SUPERIOR ST STE 712
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0DULUTH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd055802
ReturnHeader/PreparerPersonGrp/PhoneNum02187222226
ReturnHeader/PreparerPersonGrp/PreparationDt02022-05-05
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEVEN S LICARI CPA
ReturnHeader/ReturnTs02022-05-09T05:56:55-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0BRIAN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0HANSON
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
$746,724
Liabilities
$420,168
Net assets
$326,556
Revenue
$893,820
Expenses
$846,239
Net income
$47,581
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$8.81$4.30$4.51$7.74$7.45$0.29
2023Detailed filing. Detailed filing data is available for this year.$6.94$2.72$4.22$8.33$7.33$1.00
2022Detailed filing. Detailed filing data is available for this year.$4.64$1.42$3.22$8.22$8.27$0.05
2021Detailed filing. Detailed filing data is available for this year.$7.47$4.20$3.27$8.94$8.46$0.48
2020Detailed filing. Detailed filing data is available for this year.$6.61$3.82$2.79$8.24$7.79$0.45
2019Detailed filing. Detailed filing data is available for this year.$5.23$2.88$2.34$8.58$8.60$0.02
2018Detailed filing. Detailed filing data is available for this year.$5.68$3.32$2.36$8.44$8.45$0.01
2017Detailed filing. Detailed filing data is available for this year.$4.24$1.87$2.37$7.44$7.45$0.00
2016Detailed filing. Detailed filing data is available for this year.$4.89$2.51$2.38$7.57$7.42$0.15
2015Detailed filing. Detailed filing data is available for this year.$4.96$2.74$2.22$7.19$7.09$0.10
2014Detailed filing. Detailed filing data is available for this year.$4.79$2.66$2.12$7.77$7.47$0.29
2013Detailed filing. Detailed filing data is available for this year.$4.04$2.21$1.83$6.39$6.40$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.10$2.26$1.84$6.99
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.37$3.14$3.23$6.69
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.79$1.10$2.69$6.23