Civic Intelligence

Valley City - Barnes County Development Corporation

990 • Fiscal year 2018 • EIN 36-3485273

Oct 01, 2017 to Sep 30, 2018 • Filed on Jun 27, 2019

Organization ProfileN/A
PO Box 724Valley City, ND 58072

(701) 845-1891

Siviq Scores

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

Liabilities / Assets

44th percentile

0.19x

Higher debt load relative to assets than 44% of similar nonprofits.

2018 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2018

Liabilities / Revenue

94th percentile

1.36x

Higher debt load relative to revenue than 94% of similar nonprofits.

2018 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2018

Net Margin

81st percentile

16%

Higher net margin than 81% of similar nonprofits.

2018 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2018

Top Officer Pay

10th percentile

$0

Higher top officer pay than 10% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2018 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2018

Asset Growth

40th percentile

0.1%

Faster asset growth than 40% of similar nonprofits.

2018 filings • 501(c)6 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Revenue Growth

6th percentile

-21%

Faster revenue growth than 6% of similar nonprofits.

2018 filings • 501(c)6 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets44th percentile

Assets

Up

$6,864,005

Up $1,475,629 (+27%) from 2016

Net Assets

Up

$5,545,545

Up $522,920 (+10%) from 2016

Liabilities

Up

$1,318,460

Up $952,709 (+260%) from 2016

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin81st percentile

Revenue

Down

$966,467

Down $25,130 (-2.5%) from 2016

Expenses

Up

$807,645

Up $153,672 (+23%) from 2016

Net Income

Down

$158,822

Down $178,802 (-53%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth40th percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2013: $4,745,154Liabilities 2013: $374,450Net Assets 2013: $4,370,7042013Assets 2014: $4,784,493Liabilities 2014: $371,782Net Assets 2014: $4,412,7112014Assets 2015: $5,061,234Liabilities 2015: $376,233Net Assets 2015: $4,685,0012015Assets 2016: $5,388,376Liabilities 2016: $365,751Net Assets 2016: $5,022,6252016Assets 2018: $6,864,005Liabilities 2018: $1,318,460Net Assets 2018: $5,545,5452018Assets 2019: $6,939,102Liabilities 2019: $1,354,127Net Assets 2019: $5,584,9752019Assets 2020: $6,806,146Liabilities 2020: $1,373,606Net Assets 2020: $5,432,5402020Assets 2022: $6,644,931Liabilities 2022: $1,428,705Net Assets 2022: $5,216,2262022Assets 2025: $6,149,594Liabilities 2025: $1,060,103Net Assets 2025: $5,089,4912025

Highlighted filing

2018

Assets$6,864,005
Liabilities$1,318,460
Net Assets$5,545,545
Open 2018 Filing

Operations Trend

Revenue Growth6th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2013: $2,286,7652013Revenue 2014: $435,096Expenses 2014: $393,089Net Income 2014: $42,0072014Revenue 2015: $790,042Expenses 2015: $517,752Net Income 2015: $272,2902015Revenue 2016: $991,597Expenses 2016: $653,973Net Income 2016: $337,6242016Revenue 2018: $966,467Expenses 2018: $807,645Net Income 2018: $158,8222018Revenue 2019: $884,302Expenses 2019: $844,872Net Income 2019: $39,4302019Revenue 2020: $956,954Expenses 2020: $1,109,389Net Income 2020: -$152,4352020Revenue 2022: $677,456Expenses 2022: $868,643Net Income 2022: -$191,1872022Revenue 2025: $1,591,108Expenses 2025: $1,574,756Net Income 2025: $16,3522025

Highlighted filing

2018

Revenue$966,467
Expenses$807,645
Net Income$158,822
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2017 to Sep 30, 2018
Signed
Jun 27, 2019
Return Version
2017v2.3
Gross Receipts
$1,347,499
Mission and Program Overview

Mission

To promote economic development in the City of Valley City and surrounding Barnes County area.

To promote economic development to the City of Valley City and surrounding Barnes County area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$3,267,257$3,132,038▼ $135,219
Land, Buildings, and Equipment, Net$1,741,996$2,098,886▲ $356,890
Other Notes and Loans Receivable, Net$1,039,793$1,100,859▲ $61,066
Cash and Non-Interest-Bearing Accounts$470,568$183,646▼ $286,922
Savings and Temporary Cash Investments$99,987$99,987→ $0
Accounts Receivable$45,984$38,719▼ $7,265
Prepaid Expenses and Deferred Charges$10,894$6,633▼ $4,261
Total Assets$6,856,183$6,864,005▲ $7,822
Other Assets Total$179,704$203,237▲ $23,533
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,351,114$1,269,414▼ $81,700
Other Liabilities$70,000$0▼ $70,000
Accounts Payable and Accrued Expenses$48,346$49,046▲ $700
Total Liabilities$1,469,460$1,318,460▼ $151,000
Net Assets / Fund Balance
Temporarily Rstr Net Assets$2,245,606$2,467,800▲ $222,194
Unrestricted Net Assets$1,718,729$1,718,729→ $0
Permanently Rstr Net Assets$1,422,388$1,359,016▼ $63,372
Total Net Assets Fund Balance$5,386,723$5,545,545▲ $158,822
Total Liabilities and Net Assets / Fund Balance$6,856,183$6,864,005▲ $7,822

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$-110--
Land$2,098,886--
Compensation and Service Providers
Top Officer Pay10th percentile

Board Members and Trustees

NameTitle
Paige BjornsonPast-President
JoAnn HooperPresident
Josh KasowskiPresident-Elect
Bill CarlblomDirector
Bob KoepplinDirector
Dean KinneyDirector
George GauklerDirector
Luke TrappDirector
Mary Lee NielsonDirector
Mary SimonsonDirector
Mike MetcalfDirector
Wade BrunsDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$977,624
Program Service Revenue
$45,820
Investment Income
$30,896
Other Revenue
$-87,873
All Other Contributions
$59,717
Change in Net Assets
$158,822
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$636,841
Grants and Similar Amounts Paid$170,804
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs---$170,804
Office Expenses---$21,324
Fees for Services Accounting---$8,791
Other Expenses---$5,000
All Other Expenses---$4,793
Conferences and Meetings---$1,553
Travel---$820
Insurance---$735
Information Technology---$613
Advertising---$276
Total Functional Expenses$0$0$0$807,645
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Valley City Parks and RecreationValley City, ND-Assistance in Wellness Center project and City Park concession stand$100,000
Sheyenne Valley Area Career and Tech CenterValley City, ND-to support efforts to expand area workforce welding skills.$23,804
Sheyenne Valley National Scenic BywayValley City, ND-Assistance in promoting and maintaining Byway amenities and tourism$17,000
Sheyenne Valley Community FoundationValley City, ND-Assistance in promoting new foundation and operationsAssistance in building repairs$15,000
Hi-Line Prairie Gardens & OrchardValley City, ND-Assistance in garden improvements and quality of place$10,000
Valley City Area Chamber of CommerceValley City, ND-Assistance in promoting small business developmentAssistance in promoting small business development Assistance in promoting small business development$5,000
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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 A, line 6

“Any person interested in becoming a member of the Valley City - Barnes County Development Corporation submits an application and membership dues to the Corporation. Each member in good standing is entitled to one vote on matters submitted to a vote of all the members.”

Form 990, Part VI, Section A, line 7A

“Members of Valley City - Barnes County Development Corporation nominate and elect officers and directors at its annual meeting.”

Form 990, Part VI, Section B, line 11B

“The Form 990 is presented to and discussed with the Board of Directors during a meeting.”

Form 990, Part VI, Section C, line 19

“All governing documents, policies, and financial statements are made available for public inspection in the offices located at 250 W Main St., Valley City, ND 58072, upon request to the Director of Development.”

Filing and Contact Details

Filer

Filer Name
Valley City - Barnes County Development
EIN
36-3485273
Phone
7018451891
Address
PO Box 724, Valley City, ND 58072

Signing Officer

Name
JoAnn Hooper
Title
President
Phone
7018451891
Signed
2019-06-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
JoAnn Hooper
Formed
1985
Legal Domicile
Nd
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
20

Preparer

Firm
Ludvigson Braun and Co
Address
PO BOX 845, VALLEY CITY, ND 58072-0845
Preparer
Matthew D Pedersen CPA
Phone
7018451457
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IRS990/PYTotalRevenueAmt01227856
IRS990/ReconcilationRevenueExpnssAmt0158822
IRS990/RegularMonitoringEnfrcInd00
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/RentalIncomeOrLossGrp/RealAmt0-89074
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd01
IRS990/SavingsAndTempCashInvstGrp/BOYAmt099987
IRS990/SavingsAndTempCashInvstGrp/EOYAmt099987
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt0724420
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt1114486
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt278550
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt32214692
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt4-110
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0Investment in Regional Technology Center
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1Investment in Data Tranz, LLC
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc2Investment in Valley City Development Corp
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc3Investment in Tech II Building
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc4Investment in Valley City Theater
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd2C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd3C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd4C
IRS990ScheduleD/LandGrp/BookValueAmt02098886
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt02098886
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02098886
IRS990ScheduleD/TotalBookValueProgramRltdAmt03132038
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt05000
IRS990ScheduleI/RecipientTable/CashGrantAmt117000
IRS990ScheduleI/RecipientTable/CashGrantAmt2100000
IRS990ScheduleI/RecipientTable/CashGrantAmt315000
IRS990ScheduleI/RecipientTable/CashGrantAmt410000
IRS990ScheduleI/RecipientTable/CashGrantAmt523804
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0Assistance in promoting small business developmentAssistance in promoting small business development Assistance in promoting small business development
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1Assistance in promoting and maintaining Byway amenities and tourism
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2Assistance in Wellness Center project and City Park concession stand
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3Assistance in promoting new foundation and operationsAssistance in building repairs
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4Assistance in garden improvements and quality of place
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt5to support efforts to expand area workforce welding skills.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt6Assistance in expanding business
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Valley City Area Chamber of Commerce
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1Sheyenne Valley National Scenic Byway
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2Valley City Parks and Recreation
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3Sheyenne Valley Community Foundation
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4Hi-Line Prairie Gardens & Orchard
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt5Sheyenne Valley Area Career and Tech Center
IRS990ScheduleI/RecipientTable/RecipientEIN0450118780
IRS990ScheduleI/RecipientTable/RecipientEIN1263619526
IRS990ScheduleI/RecipientTable/RecipientEIN2450375502
IRS990ScheduleI/RecipientTable/RecipientEIN3464371645
IRS990ScheduleI/RecipientTable/RecipientEIN4811935459
IRS990ScheduleI/RecipientTable/RecipientEIN5450335405
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0250 W Main St
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1250 West Main St
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt2140 4th St SW
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt3250 West Main St
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt4940 6th St SW
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt5801 Valley Ave SE
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Valley City
IRS990ScheduleI/RecipientTable/USAddress/CityNm1Valley City
IRS990ScheduleI/RecipientTable/USAddress/CityNm2Valley City
IRS990ScheduleI/RecipientTable/USAddress/CityNm3Valley City
IRS990ScheduleI/RecipientTable/USAddress/CityNm4Valley City
IRS990ScheduleI/RecipientTable/USAddress/CityNm5Valley City
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0ND
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1ND
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2ND
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd3ND
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd4ND
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd5ND
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd058072
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd158072
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd258072
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd358072
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd458072
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd558072
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Any person interested in becoming a member of the Valley City - Barnes County Development Corporation submits an application and membership dues to the Corporation. Each member in good standing is entitled to one vote on matters submitted to a vote of all the members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Members of Valley City - Barnes County Development Corporation nominate and elect officers and directors at its annual meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Form 990 is presented to and discussed with the Board of Directors during a meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3All governing documents, policies, and financial statements are made available for public inspection in the offices located at 250 W Main St., Valley City, ND 58072, upon request to the Director of Development.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt0Valley City - Barnes County Development Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0456012588
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0ND
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/OwnershipPct00.68200
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0Real Estate Development
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0Valley City Development Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt0250 W Main St
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0Valley City
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0ND
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd058072
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd01
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0Valley City Development Corporation
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0D
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt02245606
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt02467800
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt06856183
IRS990/TotalAssetsEOYAmt06864005

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$6,864,005
Liabilities
$1,318,460
Net assets
$5,545,545
Revenue
$966,467
Expenses
$807,645
Net income
$158,822
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.15$1.06$5.09$1.59$1.57$0.02
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.64$1.43$5.22$0.68$0.87$0.19
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.81$1.37$5.43$0.96$1.11$0.15
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.94$1.35$5.58$0.88$0.84$0.04
2018Detailed filing. Detailed filing data is available for this year.$6.86$1.32$5.55$0.97$0.81$0.16
2016Detailed filing. Detailed filing data is available for this year.$5.39$0.37$5.02$0.99$0.65$0.34
2015Detailed filing. Detailed filing data is available for this year.$5.06$0.38$4.69$0.79$0.52$0.27
2014Detailed filing. Detailed filing data is available for this year.$4.78$0.37$4.41$0.44$0.39$0.04
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.75$0.37$4.37$2.29
Peer Organizations

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