Civic Intelligence

Valley City - Barnes County Development Corporation

990 • Fiscal year 2021 • EIN 36-3485273

Oct 01, 2020 to Sep 30, 2021 • Filed on Feb 10, 2022

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

53rd percentile

0.21x

Higher debt load relative to assets than 53% of similar nonprofits.

2021 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2021

Liabilities / Revenue

96th percentile

2.17x

Higher debt load relative to revenue than 96% of similar nonprofits.

2021 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2021

Net Margin

13th percentile

-3.8%

Higher net margin than 13% of similar nonprofits.

2021 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2021

Top Officer Pay

13th percentile

$0

Higher top officer pay than 13% of similar nonprofits.

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

2021 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2021

Asset Growth

17th percentile

0.5%

Faster asset growth than 17% of similar nonprofits.

2021 filings • 501(c)6 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Revenue Growth

6th percentile

-31%

Faster revenue growth than 6% of similar nonprofits.

2021 filings • 501(c)6 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Assets

Up

$6,837,851

Up $31,705 (+0.5%) from 2020

Net Assets

Down

$5,407,413

Down $25,127 (-0.5%) from 2020

Liabilities

Up

$1,430,438

Up $56,832 (+4.1%) from 2020

Revenue

Down

$659,813

Down $297,141 (-31%) from 2020

Expenses

Down

$684,940

Down $424,449 (-38%) from 2020

Net Income

Up

-$25,127

Up $127,308 (+84%) from 2020

Historical Trend

Balance Sheet Trend

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 2021: $6,837,851Liabilities 2021: $1,430,438Net Assets 2021: $5,407,4132021Assets 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

2021

Assets$6,837,851
Liabilities$1,430,438
Net Assets$5,407,413

Operations Trend

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 2021: $659,813Expenses 2021: $684,940Net Income 2021: -$25,1272021Revenue 2022: $677,456Expenses 2022: $868,643Net Income 2022: -$191,1872022Revenue 2025: $1,591,108Expenses 2025: $1,574,756Net Income 2025: $16,3522025

Highlighted filing

2021

Revenue$659,813
Expenses$684,940
Net Income-$25,127
Jump To
Filing Snapshot
Filing Period
Oct 1, 2020 to Sep 30, 2021
Signed
Feb 10, 2022
Return Version
2020v4.2
Gross Receipts
$980,909
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$2,906,276$2,819,769▼ $86,507
Land, Buildings, and Equipment, Net$1,832,548$1,832,548→ $0
Other Notes and Loans Receivable, Net$1,230,603$1,431,343▲ $200,740
Cash and Non-Interest-Bearing Accounts$524,372$418,954▼ $105,418
Savings and Temporary Cash Investments$49,836$49,836→ $0
Prepaid Expenses and Deferred Charges$11,578$11,321▼ $257
Accounts Receivable$694$0▼ $694
Total Assets$6,806,146$6,837,851▲ $31,705
Other Assets Total$250,239$274,080▲ $23,841
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,308,922$1,361,679▲ $52,757
Accounts Payable and Accrued Expenses$64,684$68,759▲ $4,075
Total Liabilities$1,373,606$1,430,438▲ $56,832
Net Assets / Fund Balance
Net Assets With Donor Restrictions$3,939,582$3,897,209▼ $42,373
Net Assets Without Donor Restrictions$1,492,958$1,510,204▲ $17,246
Total Net Assets Fund Balance$5,432,540$5,407,413▼ $25,127
Total Liabilities and Net Assets / Fund Balance$6,806,146$6,837,851▲ $31,705

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$-25--
Land$1,832,548--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Josh KasowskiPresident
Mary Lee NielsonPresident-Elect
Bill CarlblomDirector
Bobby KoepplinDirector
Dean KinneyDirector
Dick GulmonDirector
George GauklerDirector
Luke TrappDirector
Mary SimonsonDirector
Matt PedersenDirector
Mike BishopDirector
Paige BjornsonDirector
Paul DiegelDirector
Pete PaulsonDirector
Wade BrunsDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$699,709
Program Service Revenue
$45,431
Investment Income
$25,003
Other Revenue
$-110,330
Change in Net Assets
$-25,127
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$514,126
Grants and Similar Amounts Paid$170,814
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs---$170,814
Office Expenses---$9,170
Fees for Services Accounting---$5,435
Other Expenses---$5,000
All Other Expenses---$2,848
Insurance---$968
Information Technology---$441
Advertising---$305
Conferences and Meetings---$239
Travel---$235
Total Functional Expenses$0$0$0$684,940
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Valley City Parks and RecreationValley City, ND-Assistance in Wellness Center project$50,000
Sheyenne Valley Community FoundationValley City, ND-Assistance in promoting new foundation and operations$30,000
Sheyenne Valley National Scenic BywayValley City, ND-Assistance in promoting and maintaining Byway amenities and tourism$28,774
South Central Dakota Regional CouncilJamestown, ND-Assistance through membership$22,040
Valley City Area Chamber of CommerceValley City, ND-Assistance in promoting small business development$20,000
Valley City Hockey and Figure Skating Club IncValley City, ND-Assistance for the purchase of equipment$10,000
Valley Twisters Gymnastics Club IncValley City, ND-Assistance for the purchase of equipment$10,000
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 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 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
Josh Kasowski
Title
President
Phone
7018451891
Signed
2022-02-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Josh Kasowski
Formed
1985
Legal Domicile
Nd
Voting Board Members
15
Independent Board Members
15
Employees
0
Volunteers
0

Preparer

Firm
Ludvigson Braun and Co
Address
PO BOX 845, VALLEY CITY, ND 58072-0845
Preparer
Michael D Pedersen
Phone
7018451457
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IRS990/ProgramServiceRevenueGrp/BusinessCd2900099
IRS990/ProgramServiceRevenueGrp/Desc0Administrative Fees
IRS990/ProgramServiceRevenueGrp/Desc1Event income
IRS990/ProgramServiceRevenueGrp/Desc2Refunds and Sponsorships
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt028099
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt19747
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt27585
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt028099
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt19747
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt27585
IRS990/ProgSrvcAccomActy2Grp/Desc0to support South Central Dakota Regional Council services through membership
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt022040
IRS990/ProgSrvcAccomActy2Grp/GrantAmt022040
IRS990/ProgSrvcAccomActy3Grp/Desc0to support Sheyenne Valley National Scenic Byway marketing efforts to promote Byway amenities and tourism.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt028774
IRS990/ProgSrvcAccomActy3Grp/GrantAmt028774
IRS990/ProgSrvcAccomActyOtherGrp/Desc0various grants in support of Quality of Place initiative
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt070000
IRS990/ProgSrvcAccomActyOtherGrp/GrantAmt070000
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0988045
IRS990/PYGrantsAndSimilarPaidAmt0245566
IRS990/PYInvestmentIncomeAmt024942
IRS990/PYOtherExpensesAmt0863823
IRS990/PYOtherRevenueAmt0-128181
IRS990/PYProgramServiceRevenueAmt072148
IRS990/PYRevenuesLessExpensesAmt0-152435
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt01109389
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0956954
IRS990/ReconcilationRevenueExpnssAmt0-25127
IRS990/RegularMonitoringEnfrcInd00
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/RentalIncomeOrLossGrp/RealAmt0-112734
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd01
IRS990/SavingsAndTempCashInvstGrp/BOYAmt049836
IRS990/SavingsAndTempCashInvstGrp/EOYAmt049836
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt0621094
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt1119411
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt281650
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt31997639
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt4-25
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/BookValueAmt01832548
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt01832548
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01832548
IRS990ScheduleD/TotalBookValueProgramRltdAmt02819769
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt020000
IRS990ScheduleI/RecipientTable/CashGrantAmt128774
IRS990ScheduleI/RecipientTable/CashGrantAmt250000
IRS990ScheduleI/RecipientTable/CashGrantAmt330000
IRS990ScheduleI/RecipientTable/CashGrantAmt410000
IRS990ScheduleI/RecipientTable/CashGrantAmt510000
IRS990ScheduleI/RecipientTable/CashGrantAmt622040
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0Assistance in promoting small business development
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1Assistance in promoting and maintaining Byway amenities and tourism
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2Assistance in Wellness Center project
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3Assistance in promoting new foundation and operations
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4Assistance for the purchase of equipment
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt5Assistance for the purchase of equipment
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt6Assistance through membership
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt7Assistance for the purchase of equipment
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt8Assistance for the purchase of equipment
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/BusinessNameLine1Txt4Valley City Hockey and Figure Skating Club Inc
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt5Valley Twisters Gymnastics Club Inc
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt6South Central Dakota Regional Council
IRS990ScheduleI/RecipientTable/RecipientEIN0450118780
IRS990ScheduleI/RecipientTable/RecipientEIN1263619526
IRS990ScheduleI/RecipientTable/RecipientEIN2450375502
IRS990ScheduleI/RecipientTable/RecipientEIN3464371645
IRS990ScheduleI/RecipientTable/RecipientEIN4450391358
IRS990ScheduleI/RecipientTable/RecipientEIN5450389562
IRS990ScheduleI/RecipientTable/RecipientEIN6450319431
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0250 West Main St
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1250 West Main St
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt2733 8th Ave SW
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt3250 West Main St
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt4PO Box 91
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt5PO Box 702
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt6429 - 2nd Street SW Suite 208
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/CityNm6Jamestown
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/StateAbbreviationCd6ND
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd058072
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd158072
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd258072
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd358072
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd458072
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd558072
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd6584020903
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.

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