Civic Intelligence

Valley City - Barnes County Development Corporation

990 • Fiscal year 2022 • EIN 36-3485273

Oct 01, 2021 to Sep 30, 2022 • Filed on Mar 13, 2023

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

49th percentile

0.22x

Higher debt load relative to assets than 49% of similar nonprofits.

2022 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

96th percentile

2.11x

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

2022 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2022

Net Margin

7th percentile

-28%

Higher net margin than 7% of similar nonprofits.

2022 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2022

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.

2022 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2022

Asset Growth

39th percentile

-2.8%

Faster asset growth than 39% of similar nonprofits.

2022 filings • 501(c)6 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

38th percentile

2.7%

Faster revenue growth than 38% of similar nonprofits.

2022 filings • 501(c)6 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets49th percentile

Assets

Down

$6,644,931

Down $161,215 (-2.4%) from 2020

Net Assets

Down

$5,216,226

Down $216,314 (-4.0%) from 2020

Liabilities

Up

$1,428,705

Up $55,099 (+4.0%) from 2020

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin7th percentile

Revenue

Down

$677,456

Down $279,498 (-29%) from 2020

Expenses

Down

$868,643

Down $240,746 (-22%) from 2020

Net Income

Down

-$191,187

Down $38,752 (-25%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth39th 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

2022

Assets$6,644,931
Liabilities$1,428,705
Net Assets$5,216,226
Open 2022 Filing

Operations Trend

Revenue Growth38th 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

2022

Revenue$677,456
Expenses$868,643
Net Income-$191,187
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2021 to Sep 30, 2022
Signed
Mar 13, 2023
Return Version
2021v4.2
Gross Receipts
$1,035,441
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$2,819,769$2,710,573▼ $109,196
Land, Buildings, and Equipment, Net$1,832,548$1,832,548→ $0
Other Notes and Loans Receivable, Net$1,431,343$1,469,432▲ $38,089
Cash and Non-Interest-Bearing Accounts$418,954$318,688▼ $100,266
Savings and Temporary Cash Investments$49,836$49,836→ $0
Accounts Receivable-$21,128-
Prepaid Expenses and Deferred Charges$11,321$9,706▼ $1,615
Total Assets$6,837,851$6,644,931▼ $192,920
Other Assets Total$274,080$233,020▼ $41,060
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,361,679$1,350,402▼ $11,277
Accounts Payable and Accrued Expenses$68,759$78,303▲ $9,544
Total Liabilities$1,430,438$1,428,705▼ $1,733
Net Assets / Fund Balance
Net Assets With Donor Restrictions$3,897,209$3,731,925▼ $165,284
Net Assets Without Donor Restrictions$1,510,204$1,484,301▼ $25,903
Total Net Assets Fund Balance$5,407,413$5,216,226▼ $191,187
Total Liabilities and Net Assets / Fund Balance$6,837,851$6,644,931▼ $192,920

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$-264--
Land$1,832,548--
Compensation and Service Providers
Top Officer Pay13th percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$662,706
Program Service Revenue
$61,654
Investment Income
$25,181
Other Revenue
$-72,085
All Other Contributions
$25,000
Change in Net Assets
$-191,187
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$452,740
Other Expenses$415,903
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs---$452,740
Office Expenses---$6,669
Fees for Services Management---$5,460
Other Expenses---$2,489
Insurance---$929
All Other Expenses---$624
Travel---$603
Advertising---$431
Information Technology---$408
Conferences and Meetings---$40
Total Functional Expenses$0$0$0$868,643
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Sheyenne Valley Area Career and Technology CenterValley City, ND-Assistance for the purchase of equipment$141,700
Valley City State UniversityValley City, ND-Salesforce and EKG Instructor - Bush$100,000
Valley City Parks and RecreationValley City, ND-Assistance in Wellness Center project$50,000
Malach USA LLPValley City, ND-Assistance for Hillslide Repair$30,000
Barnes County Park DistrictValley City, ND-Sheyenne River Water Trail project$29,000
South Central Dakota Regional CouncilJamestown, ND-Assistance through membership$22,040
City County Health DistrictValley City, ND-Healthy Families America Program$20,000
Sheyenne Valley Community FoundationValley City, ND-Assistance in promoting new foundation and operations$20,000
Valley City Public SchoolsValley City, ND-Masters Dual Credit, Bush Career Work$15,000
Eagles Aerie 2192Valley City, ND-Assistance for the purchase of a Fire Alarm System$10,000
TBD IncValley City, ND-Bowling Alley$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
Mary Lee Nielson
Title
President
Phone
7018451891
Signed
2023-03-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mary Lee Nielson
Formed
1985
Legal Domicile
Nd
Voting Board Members
14
Independent Board Members
14
Employees
3
Volunteers
14

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/Desc1Event income
IRS990/ProgramServiceRevenueGrp/Desc2Refunds and Sponsorshi
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt044264
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt111587
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt25803
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt044264
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt111587
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt25803
IRS990/ProgSrvcAccomActy2Grp/Desc0Support for various programs at Valley City State Unversity
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0100000
IRS990/ProgSrvcAccomActy2Grp/GrantAmt0100000
IRS990/ProgSrvcAccomActy3Grp/Desc0Support for a Wellness Center through the Valley City Parks and Recreation department
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt050000
IRS990/ProgSrvcAccomActy3Grp/GrantAmt050000
IRS990/ProgSrvcAccomActyOtherGrp/Desc0Support of various programs for the economic benefit of the City of Valley City and the surrounding area of Barnes County in North Dakota
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt0353373
IRS990/ProgSrvcAccomActyOtherGrp/GrantAmt0161040
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0699709
IRS990/PYGrantsAndSimilarPaidAmt0170814
IRS990/PYInvestmentIncomeAmt025003
IRS990/PYOtherExpensesAmt0514126
IRS990/PYOtherRevenueAmt0-110330
IRS990/PYProgramServiceRevenueAmt045431
IRS990/PYRevenuesLessExpensesAmt0-25127
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0684940
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0659813
IRS990/ReconcilationRevenueExpnssAmt0-191187
IRS990/RegularMonitoringEnfrcInd00
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/RentalIncomeOrLossGrp/RealAmt0-73735
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/BookValueAmt0583356
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt1119698
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt281650
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt31926133
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt4-264
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/TotalBookValueProgramRltdAmt02710573
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt020000
IRS990ScheduleI/RecipientTable/CashGrantAmt150000
IRS990ScheduleI/RecipientTable/CashGrantAmt220000
IRS990ScheduleI/RecipientTable/CashGrantAmt310000
IRS990ScheduleI/RecipientTable/CashGrantAmt430000
IRS990ScheduleI/RecipientTable/CashGrantAmt522040
IRS990ScheduleI/RecipientTable/CashGrantAmt629000
IRS990ScheduleI/RecipientTable/CashGrantAmt7141700
IRS990ScheduleI/RecipientTable/CashGrantAmt810000
IRS990ScheduleI/RecipientTable/CashGrantAmt915000
IRS990ScheduleI/RecipientTable/CashGrantAmt10100000
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt10
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt20
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt30
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt40
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt50
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt60
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt70
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt80
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt90
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt100
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0Healthy Families America Program
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1Assistance in Wellness Center project
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2Assistance in promoting new foundation and operations
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3Assistance for the purchase of a Fire Alarm System
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4Assistance for Hillslide Repair
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt5Assistance through membership
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt6Sheyenne River Water Trail project
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt7Assistance for the purchase of equipment
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt8Bowling Alley
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt9Masters Dual Credit, Bush Career Work
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt10Salesforce and EKG Instructor - Bush
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0City County Health District
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1Valley City Parks and Recreation
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2Sheyenne Valley Community Foundation
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3Eagles Aerie 2192
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4Malach USA LLP
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt5South Central Dakota Regional Council
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt6Barnes County Park District
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt7Sheyenne Valley Area Career and Technology Center
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt8TBD Inc
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt9Valley City Public Schools
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt10Valley City State University
IRS990ScheduleI/RecipientTable/RecipientEIN0363166982
IRS990ScheduleI/RecipientTable/RecipientEIN1450375502
IRS990ScheduleI/RecipientTable/RecipientEIN2464371645
IRS990ScheduleI/RecipientTable/RecipientEIN3450136274
IRS990ScheduleI/RecipientTable/RecipientEIN4640949995
IRS990ScheduleI/RecipientTable/RecipientEIN5450319431
IRS990ScheduleI/RecipientTable/RecipientEIN6456002198
IRS990ScheduleI/RecipientTable/RecipientEIN7450335405
IRS990ScheduleI/RecipientTable/RecipientEIN8680523428
IRS990ScheduleI/RecipientTable/RecipientEIN9456000025
IRS990ScheduleI/RecipientTable/RecipientEIN10456002482
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0415 2nd Ave NE 1
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1733 8th Ave SW
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt2250 West Main St
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt3345 12th Ave NE
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt41515 7th St SE
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt5429 - 2nd Street SW Suite 208
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt6240 4th St NW Room 202
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt7801 Valley Ave SE
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt8951 W Main Street
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt9460 Central Ave N
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt10101 College Street SW
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Valley City
IRS990ScheduleI/RecipientTable/USAddress/CityNm1Valley City
IRS990ScheduleI/RecipientTable/USAddress/CityNm2Valley City
IRS990ScheduleI/RecipientTable/USAddress/CityNm3Valley City

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$6,644,931
Liabilities
$1,428,705
Net assets
$5,216,226
Revenue
$677,456
Expenses
$868,643
Net income
-$191,187
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
2022Detailed filing. Detailed filing data is available for this year.$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
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$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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