Civic Intelligence

Valley City - Barnes County Development Corporation

990 • Fiscal year 2024 • EIN 36-3485273

Oct 01, 2023 to Sep 30, 2024 • Filed on Mar 27, 2025

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

48th percentile

0.19x

Higher debt load relative to assets than 48% of similar nonprofits.

2024 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

94th percentile

1.27x

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

2024 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2024

Net Margin

23rd percentile

-2.6%

Higher net margin than 23% of similar nonprofits.

2024 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2024

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.

2024 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2024

Asset Growth

20th percentile

-2.5%

Faster asset growth than 20% of similar nonprofits.

2024 filings • 501(c)6 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

93rd percentile

50%

Faster revenue growth than 93% of similar nonprofits.

2024 filings • 501(c)6 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets48th percentile

Assets

Down

$6,283,269

Down $361,662 (-5.4%) from 2022

Net Assets

Down

$5,073,139

Down $143,087 (-2.7%) from 2022

Liabilities

Down

$1,210,130

Down $218,575 (-15%) from 2022

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin23rd percentile

Revenue

Up

$955,456

Up $278,000 (+41%) from 2022

Expenses

Up

$980,425

Up $111,782 (+13%) from 2022

Net Income

Up

-$24,969

Up $166,218 (+87%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth20th 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 2024: $6,283,269Liabilities 2024: $1,210,130Net Assets 2024: $5,073,1392024Assets 2025: $6,149,594Liabilities 2025: $1,060,103Net Assets 2025: $5,089,4912025

Highlighted filing

2024

Assets$6,283,269
Liabilities$1,210,130
Net Assets$5,073,139
Open 2024 Filing

Operations Trend

Revenue Growth93rd 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 2024: $955,456Expenses 2024: $980,425Net Income 2024: -$24,9692024Revenue 2025: $1,591,108Expenses 2025: $1,574,756Net Income 2025: $16,3522025

Highlighted filing

2024

Revenue$955,456
Expenses$980,425
Net Income-$24,969
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2023 to Sep 30, 2024
Signed
Mar 27, 2025
Return Version
2023v6.0
Gross Receipts
$1,294,577
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$2,601,923$2,496,095▼ $105,828
Land, Buildings, and Equipment, Net$1,859,359$1,859,359→ $0
Other Notes and Loans Receivable, Net$1,442,296$1,379,435▼ $62,861
Cash and Non-Interest-Bearing Accounts$460,535$283,178▼ $177,357
Savings and Temporary Cash Investments$49,836$228,932▲ $179,096
Prepaid Expenses and Deferred Charges$16,665$20,744▲ $4,079
Accounts Receivable$1,050$370▼ $680
Total Assets$6,446,008$6,283,269▼ $162,739
Other Assets Total$14,344$15,156▲ $812
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,264,490$1,130,374▼ $134,116
Accounts Payable and Accrued Expenses$82,996$79,756▼ $3,240
Total Liabilities$1,347,486$1,210,130▼ $137,356
Net Assets / Fund Balance
Net Assets With Donor Restrictions$3,642,063$3,839,880▲ $197,817
Net Assets Without Donor Restrictions$1,456,459$1,233,259▼ $223,200
Total Net Assets Fund Balance$5,098,522$5,073,139▼ $25,383
Total Liabilities and Net Assets / Fund Balance$6,446,008$6,283,269▼ $162,739

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$-420--
Land$1,859,359--
Compensation and Service Providers
Top Officer Pay13th percentile

Board Members and Trustees

NameTitle
Mary Lee NielsonPast President
Matt PedersenPresident
David BierlePresident - Elect
0Director
Bill CarlblomDirector
Dean KinneyDirector
George GauklerDirector
Josh KasowskiDirector
Katie BeyerDirector
Luke TrappDirector
Mike BishopDirector
Nate ZerfaceDirector
Paul DiegelDirector
Pete PaulsonDirector
Wade BrunsDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$883,319
Program Service Revenue
$50,215
Investment Income
$22,283
Other Revenue
$-361
All Other Contributions
$179,865
Change in Net Assets
$-24,969
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$565,425
Grants and Similar Amounts Paid$415,000
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs---$415,000
Advertising---$51,968
Office Expenses---$14,474
Fees for Services Accounting---$9,500
Insurance---$7,009
Other Expenses---$4,877
All Other Expenses---$2,091
Conferences and Meetings---$1,047
Interest---$603
Travel---$77
Fees for Services Legal---$35
Total Functional Expenses$0$0$0$980,425
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
City of Valley CityValley City, ND-Economic Development Projects$165,000
FMG Investments LLCValley City, ND-For the purchase of land and a building where a machine shop will operate and bring jobs to the area$150,000
Valley City Parks and RecreationValley City, ND-Assistance in Wellness Center project$100,000
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
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 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
Matthew Pedersen
Title
President
Phone
7018451891
Signed
2025-03-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Matthew Pedersen
Formed
1985
Legal Domicile
Nd
Voting Board Members
14
Independent Board Members
14
Employees
6
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/PrepaidExpensesDefrdChargesGrp/BOYAmt016665
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt020744
IRS990/PrincipalOfficerNm0Matthew Pedersen
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531390
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/Desc0Administrative Fees
IRS990/ProgramServiceRevenueGrp/Desc1Event income
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt033209
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt117006
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt033209
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt117006
IRS990/ProgSrvcAccomActy2Grp/Desc0To support the opening of a factory in Valley City, ND in order to bring jobs to the area.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0150000
IRS990/ProgSrvcAccomActy2Grp/GrantAmt0150000
IRS990/ProgSrvcAccomActy3Grp/Desc0Support for a Wellness Center through the Valley City Parks and Recreation department
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt0100000
IRS990/ProgSrvcAccomActy3Grp/GrantAmt0100000
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/ExpenseAmt0294659
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0559086
IRS990/PYGrantsAndSimilarPaidAmt0337755
IRS990/PYInvestmentIncomeAmt026050
IRS990/PYOtherExpensesAmt0418972
IRS990/PYOtherRevenueAmt0-12364
IRS990/PYProgramServiceRevenueAmt066251
IRS990/PYRevenuesLessExpensesAmt0-117704
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0756727
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0639023
IRS990/ReconcilationRevenueExpnssAmt0-24969
IRS990/RegularMonitoringEnfrcInd00
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/RentalIncomeOrLossGrp/RealAmt0-5930
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd01
IRS990/SavingsAndTempCashInvstGrp/BOYAmt049836
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0228932
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/BookValueAmt0512026
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt1119715
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt281650
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt31783124
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt4-420
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/BookValueAmt01859359
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt01859359
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01859359
IRS990ScheduleD/TotalBookValueProgramRltdAmt02496095
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt0100000
IRS990ScheduleI/RecipientTable/CashGrantAmt1150000
IRS990ScheduleI/RecipientTable/CashGrantAmt2165000
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt10
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt20
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0Assistance in Wellness Center project
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1For the purchase of land and a building where a machine shop will operate and bring jobs to the area
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2Economic Development Projects
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Valley City Parks and Recreation
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1FMG Investments LLC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2City of Valley City
IRS990ScheduleI/RecipientTable/RecipientEIN0450375502
IRS990ScheduleI/RecipientTable/RecipientEIN1872341910
IRS990ScheduleI/RecipientTable/RecipientEIN2456002171
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0733 8th Ave SW
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1PO Box 6
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt2254 2nd Ave NE
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Valley City
IRS990ScheduleI/RecipientTable/USAddress/CityNm1Valley City
IRS990ScheduleI/RecipientTable/USAddress/CityNm2Valley City
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0ND
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1ND
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2ND
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd058072
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd158072
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd258072
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/OwnershipPct00.72200
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

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$6,283,269
Liabilities
$1,210,130
Net assets
$5,073,139
Revenue
$955,456
Expenses
$980,425
Net income
-$24,969
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
2024Detailed filing. Detailed filing data is available for this year.$6.28$1.21$5.07$0.96$0.98$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
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