Civic Intelligence

North Central Economic Development Association Inc.

990 • Fiscal year 2024 • EIN 36-3458720

Jul 01, 2023 to Jun 30, 2024 • Filed on Jan 13, 2025

Organization ProfileWWW.NORTHCENTRALEDA.ORG
200 1st Street NE 2Staples, MN 56479

(218) 894-3233

Siviq Scores

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

Liabilities / Assets

63rd percentile

0.15x

Higher debt load relative to assets than 63% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

95th percentile

3.06x

Higher debt load relative to revenue than 95% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

73rd percentile

20%

Higher net margin than 73% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

72nd percentile

$113,658

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 107.9% of source-year revenue.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

13th percentile

-12%

Faster asset growth than 13% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

32nd percentile

-1.8%

Faster revenue growth than 32% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets63rd percentile

Assets

Down

$2,133,256

Down $280,599 (-12%) from 2023

Net Assets

Up

$1,810,834

Up $21,061 (+1.2%) from 2023

Liabilities

Down

$322,422

Down $301,660 (-48%) from 2023

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin73rd percentile

Revenue

Down

$105,313

Down $1,958 (-1.8%) from 2023

Expenses

Down

$84,252

Down $17,969 (-18%) from 2023

Net Income

Up

$21,061

Up $16,011 (+317%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth13th percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $1,472,260Liabilities 2011: $21,379Net Assets 2011: $1,450,8812011Assets 2012: $1,525,184Liabilities 2012: $139,750Net Assets 2012: $1,385,4342012Assets 2013: $1,589,488Liabilities 2013: $121,579Net Assets 2013: $1,467,9092013Assets 2014: $1,777,328Liabilities 2014: $357,848Net Assets 2014: $1,419,4802014Assets 2015: $1,885,741Liabilities 2015: $436,734Net Assets 2015: $1,449,0072015Assets 2016: $1,841,729Liabilities 2016: $432,149Net Assets 2016: $1,409,5802016Assets 2017: $1,940,504Liabilities 2017: $474,265Net Assets 2017: $1,466,2392017Assets 2018: $2,014,153Liabilities 2018: $451,158Net Assets 2018: $1,562,9952018Assets 2019: $1,993,709Liabilities 2019: $425,799Net Assets 2019: $1,567,9102019Assets 2020: $3,501,331Liabilities 2020: $1,792,386Net Assets 2020: $1,708,9452020Assets 2021: $3,319,971Liabilities 2021: $1,575,385Net Assets 2021: $1,744,5862021Assets 2022: $2,691,846Liabilities 2022: $907,123Net Assets 2022: $1,784,7232022Assets 2023: $2,413,855Liabilities 2023: $624,082Net Assets 2023: $1,789,7732023Assets 2024: $2,133,256Liabilities 2024: $322,422Net Assets 2024: $1,810,8342024Assets 2025: $1,932,808Liabilities 2025: $135,020Net Assets 2025: $1,797,7882025

Highlighted filing

2024

Assets$2,133,256
Liabilities$322,422
Net Assets$1,810,834
Open 2024 Filing

Operations Trend

Revenue Growth32nd percentile

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

$300K$200K$100K$0-$100KExpenses 2011: $57,1462011Expenses 2012: $223,8732012Expenses 2013: $150,3412013Revenue 2014: $103,563Expenses 2014: $151,992Net Income 2014: -$48,4292014Revenue 2015: $174,843Expenses 2015: $145,316Net Income 2015: $29,5272015Revenue 2016: $214,020Expenses 2016: $253,447Net Income 2016: -$39,4272016Revenue 2017: $230,789Expenses 2017: $174,130Net Income 2017: $56,6592017Revenue 2018: $211,465Expenses 2018: $114,709Net Income 2018: $96,7562018Revenue 2019: $136,872Expenses 2019: $131,957Net Income 2019: $4,9152019Revenue 2020: $270,825Expenses 2020: $129,790Net Income 2020: $141,0352020Revenue 2021: $163,164Expenses 2021: $127,523Net Income 2021: $35,6412021Revenue 2022: $152,928Expenses 2022: $112,791Net Income 2022: $40,1372022Revenue 2023: $107,271Expenses 2023: $102,221Net Income 2023: $5,0502023Revenue 2024: $105,313Expenses 2024: $84,252Net Income 2024: $21,0612024Revenue 2025: $43,285Expenses 2025: $56,331Net Income 2025: -$13,0462025

Highlighted filing

2024

Revenue$105,313
Expenses$84,252
Net Income$21,061
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Jan 13, 2025
Return Version
2023v6.0
Gross Receipts
$105,313
Mission and Program Overview

Mission

Promote economic development through the operation of a revolving loan fund and provide loans to individuals for household water well systems in the five county area of cass, crow wing, morrison, todd and wadena counties.

Our mission is to provide assistance to cultivate new skills and resources that unite communities and contribute to a prosperous economy.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$1,817,945$1,256,000▼ $561,945
Cash and Non-Interest-Bearing Accounts$574,090$606,724▲ $32,634
Savings and Temporary Cash Investments$15,961$266,693▲ $250,732
Prepaid Expenses and Deferred Charges$1,194$718▼ $476
Accounts Receivable$713$0▼ $713
Land, Buildings, and Equipment, Net$0$0→ $0
Total Assets$2,413,855$2,133,256▼ $280,599
Other Assets Total$3,952$3,121▼ $831
Liabilities
Mortgage Notes Payable Secured by Investment Property$532,405$220,918▼ $311,487
Accounts Payable and Accrued Expenses$29,337$64,203▲ $34,866
Other Liabilities$36,442$37,301▲ $859
Deferred Revenue$25,898$0▼ $25,898
Total Liabilities$624,082$322,422▼ $301,660
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,789,773$1,810,834▲ $21,061
Total Net Assets Fund Balance$1,789,773$1,810,834▲ $21,061
Total Liabilities and Net Assets / Fund Balance$2,413,855$2,133,256▼ $280,599

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$0$11,100$11,100
Compensation and Service Providers
Top Officer Pay72nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Cheryal HillsExecutive DirectorFT-$113,658$113,658
Carrie ReiersonDirector-$450-$450
Greg ZylkaChair-$450-$450
Dan FrankVice Chair-$350-$350
Allie VerchotaBoard Member-$270-$270
David AndersonR5dc Liaison--$200$200
Steve GertkenSecretary-$200-$200
Rick UtechBoard Member-$150-$150
Maurice DurheimDirector-$100-$100
Sandra VoigtBoard Member-$70-$70
Lisa Graba-meechTreasurer-$35-$35
Marina LovellBoard Member-$35-$35

Board Members and Trustees

NameTitle
Cory PettitBoard Member
Jason SellnowBoard Member
Katie HeppnerBoard Member
Mike WordenBoard Member
Quinn SwansonBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$300
Program Service Revenue
$102,068
Investment Income
$2,945
Other Revenue
$0
Change in Net Assets
$21,061

Audited Revenue Reconciliation

Revenue per Audited Statements
$105,313
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$105,313
Total Revenue per Form 990
$105,313
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$81,942
Salaries, Compensation, and Employee Benefits$2,310
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$58,916--$58,916
Fees for Services Accounting-$14,550-$14,550
Information Technology-$3,346-$3,346
Current Officers, Directors, Trustees, and Key Employees-$2,310-$2,310
Fees for Services Legal-$1,363-$1,363
Insurance-$1,282-$1,282
Fees for Services Other$733--$733
Travel-$518-$518
Interest$369--$369
Other Expenses$161$244-$161
Total Functional Expenses$60,639$23,613$0$84,252

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$84,252
Total Expenses per Audited Statements$84,252
Total Expenses per Form 990$84,252
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
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Related Organizations$37,301
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

“The form 990 is prepared by an independent cpa. It is reviewed and approved by the executive director and deputy director prior to submission.”

Form 990, Part VI, Section B, Line 12C

“Every year, the full corporation boards are required to sign a code of conduct and ethics policy acknowledgement to fully adhere to the conflict of interest policy.”

Form 990, Part VI, Section C, Line 19

“The conflict of interest policy is available upon request. The organization's governing documents and financial statements are available on the organization's own website.”

Filing and Contact Details

Filer

Filer Name
North Central Economic Development
EIN
36-3458720
Phone
2188943233
Address
200 1ST STREET NE 2, STAPLES, MN 56479

Signing Officer

Name
Cheryal Hills
Title
Executive Director
Phone
2188943233
Signed
2025-01-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cheryal Hills
Formed
1986
Legal Domicile
Mn
Voting Board Members
16
Independent Board Members
16
Employees
0
Volunteers
16

Preparer

Firm
SCHLENNER WENNER & CO CPA'S PA
Address
630 ROOSEVELT RD STE 201, ST CLOUD, MN 56301
Preparer
Shelley M Gaetz
Phone
3202510286
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“The organization has a committee that oversees the audit.”

Financial Statement Notes

PART X, LINE 2:

“The association follows fasb asc topic 740, uncertainty in income taxes. The association is recognized by the internal revenue service as a not-for-profit organization under irs code section 501(c)(3). Due to the not-for-profit nature and provision of the association, all income and expenses attributable to the mission of the association are tax exempt and accordingly no provision or liability for income taxes have been made in the financial statements and contributions to the association are tax deductible to donors as allowed by irs regulations. However, the association is required to pay state and federal income taxes on unrelated business income. If the association were to engage in any activities that resulted in unrelated business income, a tax would be assessed on that activity. The association is open and subject to examination generally for three years after the filing date.”

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IRS990/GoverningBodyVotingMembersCnt016
IRS990/GovernmentGrantsAmt0300
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt0105313
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt016
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt03346
IRS990/InformationTechnologyGrp/TotalAmt03346
IRS990/InsuranceGrp/ManagementAndGeneralAmt01282
IRS990/InsuranceGrp/TotalAmt01282
IRS990/InterestGrp/ProgramServicesAmt0369
IRS990/InterestGrp/TotalAmt0369
IRS990/InvestmentIncomeGrp/ExclusionAmt02945
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt02945
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt03
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt011100
IRS990/LandBldgEquipBasisNetGrp/BOYAmt00
IRS990/LandBldgEquipBasisNetGrp/EOYAmt00
IRS990/LandBldgEquipCostOrOtherBssAmt011100
IRS990/LegalDomicileStateCd0MN
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0OUR MISSION IS TO PROVIDE ASSISTANCE TO CULTIVATE NEW SKILLS AND RESOURCES THAT UNITE COMMUNITIES AND CONTRIBUTE TO A PROSPEROUS ECONOMY.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt0532405
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt0220918
IRS990/NetAssetsOrFundBalancesBOYAmt01789773
IRS990/NetAssetsOrFundBalancesEOYAmt01810834
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt01789773
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt01810834
IRS990/NondeductibleContributionsInd00
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt03952
IRS990/OtherAssetsTotalGrp/EOYAmt03121
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0BANK FEES
IRS990/OtherExpensesGrp/Desc1MISCELLANEOUS EXPENSE
IRS990/OtherExpensesGrp/Desc2CREDIT BUREAU FEES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0244
IRS990/OtherExpensesGrp/ProgramServicesAmt0460
IRS990/OtherExpensesGrp/ProgramServicesAmt1161
IRS990/OtherExpensesGrp/TotalAmt0460
IRS990/OtherExpensesGrp/TotalAmt1244
IRS990/OtherExpensesGrp/TotalAmt2161
IRS990/OtherLiabilitiesGrp/BOYAmt036442
IRS990/OtherLiabilitiesGrp/EOYAmt037301
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt01817945
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt01256000
IRS990/OwnWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt01194
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0718
IRS990/PrincipalOfficerNm0CHERYAL HILLS
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0522291
IRS990/ProgramServiceRevenueGrp/BusinessCd1522291
IRS990/ProgramServiceRevenueGrp/BusinessCd2522291
IRS990/ProgramServiceRevenueGrp/BusinessCd3522291
IRS990/ProgramServiceRevenueGrp/BusinessCd4522291
IRS990/ProgramServiceRevenueGrp/Desc0LOAN INTEREST REVENUE
IRS990/ProgramServiceRevenueGrp/Desc1ADMINISTRATIVE REVENUE
IRS990/ProgramServiceRevenueGrp/Desc2LOAN RECOVERY
IRS990/ProgramServiceRevenueGrp/Desc3OTHER PROGRAM REVENUE
IRS990/ProgramServiceRevenueGrp/Desc4ORIGINATION FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt062288
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt125918
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt212273
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt31390
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt4199
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt062288
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt125918
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt212273
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt31390
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt4199
IRS990/ProgSrvcAccomActy2Grp/Desc0MN DEPARTMENT OF EMPLOYMENT & ECONOMIC DEVELOPMENT (DEED) PROVIDES FUNDS TO A NETWORK OF NON-PROFIT LENDERS WHICH USE THESE FUNDS FOR LOANS TO START-UP AND EXPANDING BUSINESSES THROUGHOUT THE STATE. DEED ALSO HAS PROVIDED FUNDS FOR SMALL BUSINESS EMERGENCY LOANS (SBEL) TO HELP SMALL BUSINESSES THROUGH THE PANDEMIC.
IRS990/ProgSrvcAccomActy3Grp/Desc0USDA BACKED FUNDING WITH BUSINESS ASSISTANCE FOR START-UP/EXPANSION IN TEN COUNTIES IN CENTRAL MINNESOTA - CASS, CROW WING, CHISAGO, ISANTI, KANABEC, MILLE LACS, MORRISON, PINE, TODD AND WADENA. FUNDING OFFERED IN PARTNERSHIP WITH EAST CENTRAL REGIONAL DEVELOPMENT COMMISSION. FUNDING IN SMALLER AMOUNTS, NO BANK PARTICIPATION REQUIRED.
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt06425
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt02781
IRS990/PYOtherExpensesAmt099546
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt098065
IRS990/PYRevenuesLessExpensesAmt05050
IRS990/PYSalariesCompEmpBnftPaidAmt02675
IRS990/PYTotalExpensesAmt0102221
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0107271
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt021061
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0102068
IRS990/SavingsAndTempCashInvstGrp/BOYAmt015961
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0266693
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0300
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt06425
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt015807
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt025277
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0215584
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0263393
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt02945
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt02781
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt01485
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0437
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt01341
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt08989
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0527117
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.96700
IRS990ScheduleA/PublicSupportPY170Pct00.97670
IRS990ScheduleA/PublicSupportTotal170Amt0263393
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0300
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt06425
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt015807
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt025277
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0215584
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0263393
IRS990ScheduleA/TotalSupportAmt0272382
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt011100
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt011100
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt084252
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt037301
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO RELATED ORGANIZATIONS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0105313
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ASSOCIATION FOLLOWS FASB ASC TOPIC 740, UNCERTAINTY IN INCOME TAXES. THE ASSOCIATION IS RECOGNIZED BY THE INTERNAL REVENUE SERVICE AS A NOT-FOR-PROFIT ORGANIZATION UNDER IRS CODE SECTION 501(C)(3). DUE TO THE NOT-FOR-PROFIT NATURE AND PROVISION OF THE ASSOCIATION, ALL INCOME AND EXPENSES ATTRIBUTABLE TO THE MISSION OF THE ASSOCIATION ARE TAX EXEMPT AND ACCORDINGLY NO PROVISION OR LIABILITY FOR INCOME TAXES HAVE BEEN MADE IN THE FINANCIAL STATEMENTS AND CONTRIBUTIONS TO THE ASSOCIATION ARE TAX DEDUCTIBLE TO DONORS AS ALLOWED BY IRS REGULATIONS. HOWEVER, THE ASSOCIATION IS REQUIRED TO PAY STATE AND FEDERAL INCOME TAXES ON UNRELATED BUSINESS INCOME. IF THE ASSOCIATION WERE TO ENGAGE IN ANY ACTIVITIES THAT RESULTED IN UNRELATED BUSINESS INCOME, A TAX WOULD BE ASSESSED ON THAT ACTIVITY. THE ASSOCIATION IS OPEN AND SUBJECT TO EXAMINATION GENERALLY FOR THREE YEARS AFTER THE FILING DATE.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt084252
IRS990ScheduleD/TotalLiabilityAmt037301
IRS990ScheduleD/TotalRevenuePerForm990Amt0105313
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0105313
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt084252
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS PREPARED BY AN INDEPENDENT CPA. IT IS REVIEWED AND APPROVED BY THE EXECUTIVE DIRECTOR AND DEPUTY DIRECTOR PRIOR TO SUBMISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EVERY YEAR, THE FULL CORPORATION BOARDS ARE REQUIRED TO SIGN A CODE OF CONDUCT AND ETHICS POLICY ACKNOWLEDGEMENT TO FULLY ADHERE TO THE CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CONFLICT OF INTEREST POLICY IS AVAILABLE UPON REQUEST. THE ORGANIZATION'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE ON THE ORGANIZATION'S OWN WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION HAS A COMMITTEE THAT OVERSEES THE 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/FormAndLineReferenceDesc3FORM 990, PART XII, LINE 2C
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0REGION FIVE DEVELOPMENT COMMISSION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0411238886
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MN

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,133,256
Liabilities
$322,422
Net assets
$1,810,834
Revenue
$105,313
Expenses
$84,252
Net income
$21,061
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.93$0.14$1.80$0.04$0.06$0.01
2024Detailed filing. Detailed filing data is available for this year.$2.13$0.32$1.81$0.11$0.08$0.02
2023Detailed filing. Detailed filing data is available for this year.$2.41$0.62$1.79$0.11$0.10$0.01
2022Detailed filing. Detailed filing data is available for this year.$2.69$0.91$1.78$0.15$0.11$0.04
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.32$1.58$1.74$0.16$0.13$0.04
2020Detailed filing. Detailed filing data is available for this year.$3.50$1.79$1.71$0.27$0.13$0.14
2019Detailed filing. Detailed filing data is available for this year.$1.99$0.43$1.57$0.14$0.13$0.00
2018Detailed filing. Detailed filing data is available for this year.$2.01$0.45$1.56$0.21$0.11$0.10
2017Detailed filing. Detailed filing data is available for this year.$1.94$0.47$1.47$0.23$0.17$0.06
2016Detailed filing. Detailed filing data is available for this year.$1.84$0.43$1.41$0.21$0.25$0.04
2015Detailed filing. Detailed filing data is available for this year.$1.89$0.44$1.45$0.17$0.15$0.03
2014Detailed filing. Detailed filing data is available for this year.$1.78$0.36$1.42$0.10$0.15$0.05
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.59$0.12$1.47$0.15
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.53$0.14$1.39$0.22
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.47$0.02$1.45$0.06