Civic Intelligence

Leeds Economic Development Corporation

990 • Fiscal year 2022 • EIN 36-3719006

Jan 01, 2022 to Dec 31, 2022 • Filed on Jun 28, 2023

Organization ProfileN/A
PO Box 243Leeds, ND 58346

(701) 739-7158

Siviq Scores

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

Liabilities / Assets

11th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

11th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2022

Net Margin

94th percentile

38%

Higher net margin than 94% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

26th percentile

$0

Higher top officer pay than 26% of similar nonprofits.

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

2022 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2022

Asset Growth

73rd percentile

13%

Faster asset growth than 73% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

9th percentile

-20%

Faster revenue growth than 9% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets11th percentile

Assets

Up

$913,467

Up $106,185 (+13%) from 2021

Net Assets

Up

$913,467

Up $106,185 (+13%) from 2021

Liabilities

Flat

$0

Flat from 2021

Revenue And Expenses
Liabilities / Revenue11th percentileNet Margin94th percentile

Revenue

Down

$279,437

Down $69,468 (-20%) from 2021

Expenses

Up

$173,252

Up $44,325 (+34%) from 2021

Net Income

Down

$106,185

Down $113,793 (-52%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth73rd percentile

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

$1.5M$1.0M$500K$0Assets 2015: $213,845Liabilities 2015: $0Net Assets 2015: $213,8452015Assets 2016: $242,791Liabilities 2016: $0Net Assets 2016: $242,7912016Assets 2017: $250,514Liabilities 2017: $0Net Assets 2017: $250,5142017Assets 2018: $277,033Liabilities 2018: $0Net Assets 2018: $277,0332018Assets 2019: $285,950Liabilities 2019: $0Net Assets 2019: $285,9502019Assets 2020: $604,846Liabilities 2020: $17,542Net Assets 2020: $587,3042020Assets 2021: $807,282Liabilities 2021: $0Net Assets 2021: $807,2822021Assets 2022: $913,467Liabilities 2022: $0Net Assets 2022: $913,4672022Assets 2023: $1,000,514Liabilities 2023: $0Net Assets 2023: $1,000,5142023Assets 2024: $1,101,566Liabilities 2024: $0Net Assets 2024: $1,101,5662024

Highlighted filing

2022

Assets$913,467
Liabilities$0
Net Assets$913,467
Open 2022 Filing

Operations Trend

Revenue Growth9th percentile

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

$400K$300K$200K$100K$0Revenue 2015: $56,386Expenses 2015: $51,570Net Income 2015: $4,8162015Revenue 2016: $63,373Expenses 2016: $34,427Net Income 2016: $28,9462016Revenue 2017: $56,850Expenses 2017: $49,127Net Income 2017: $7,7232017Revenue 2018: $84,019Expenses 2018: $55,457Net Income 2018: $28,5622018Revenue 2019: $81,953Expenses 2019: $74,585Net Income 2019: $7,3682019Revenue 2020: $340,282Expenses 2020: $41,699Net Income 2020: $298,5832020Revenue 2021: $348,905Expenses 2021: $128,927Net Income 2021: $219,9782021Revenue 2022: $279,437Expenses 2022: $173,252Net Income 2022: $106,1852022Revenue 2023: $296,461Expenses 2023: $209,414Net Income 2023: $87,0472023Revenue 2024: $287,604Expenses 2024: $188,985Net Income 2024: $98,6192024

Highlighted filing

2022

Revenue$279,437
Expenses$173,252
Net Income$106,185
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Jun 28, 2023
Return Version
2022v5.0
Gross Receipts
$4,335,431
Mission and Program Overview

Mission

Local economic development

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$334,835$380,356▲ $45,521
Land, Buildings, and Equipment, Net$396,784$378,173▼ $18,611
Savings and Temporary Cash Investments$75,663$154,938▲ $79,275
Total Assets$807,282$913,467▲ $106,185
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$807,282$913,467▲ $106,185
Total Net Assets Fund Balance$807,282$913,467▲ $106,185
Total Liabilities and Net Assets / Fund Balance$807,282$913,467▲ $106,185

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$328,964$167,840$496,804
Equipment$5,097$32,253$37,350
Land$26,309-$26,309
Leasehold Improvements$17,803$3,020$20,823
Compensation and Service Providers
Top Officer Pay26th percentile

Board Members and Trustees

NameTitle
Roger KennerChairman
Dennis PaulsonDirector
Erica KennerDirector
Jeff JacobsonDirector
Keith StreyleDirector
Kyle NelsenDirector
Patrick StreyleDirector
Robert BubachDirector
Roger KennerDirector
Steve JorgensonDirector
Ron HofstrandSecretary
Glenn HoffmannTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$28,200
Investment Income
$9,276
Other Revenue
$241,961
Change in Net Assets
$106,185
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$135,925
Other Expenses$37,327
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs---$135,925
Depreciation Depletion---$18,611
Occupancy---$7,467
Other Expenses---$3,584
Fees for Services Accounting---$1,505
Office Expenses---$89
Total Functional Expenses$0$0$0$173,252
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Leeds Park BoardLeeds, ND-Pool Project/operati$35,000
Esmond Fire DepartmentEsmond, ND501c3Equipment/supplies$20,000
Leeds Community CenterLeeds, ND501c3General Operating Ex$20,000
Minnewaukan Rural Fire Protection DMinnewaukan, ND-Equipment/supplies$15,000
Little Lions DaycareLeeds, ND-Operating Expense$12,000
Leeds Golf ClubLeeds, ND-Equipment$7,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
Yes
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Gaming Gross Income$4,297,538
Gaming Direct Expenses$4,055,994
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
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 2

“Roger kenner erica kenner director director father/daughter”

Form 990, Page 6, Part VI, Line 11B

“Open for review at board meeting.”

Form 990, Page 6, Part VI, Line 19

“Documents are provided upon request”

Filing and Contact Details

Filer

Filer Name
Leeds Economic Development
EIN
36-3719006
Phone
7017397158
Address
PO BOX 243, LEEDS, ND 58346

Signing Officer

Name
Glenn Hoffmann
Title
Treasurer
Phone
7017397158
Signed
2023-06-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Roger Kenner
Formed
1996
Legal Domicile
Nd
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
12

Preparer

Firm
Britsch & Associates Pc
Address
415 6TH AVE NE, DEVILS LAKE, ND 58301
Preparer
Kathleen L Buchli CPA
Phone
7016628724
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0GRANTS ARE PAID OUT THROUGH THE GAMING FUNDS WHICH ARE MONITORED BY AND REPORTED TO THE ND ATTORNEY GENERAL QUARTERLY ON THE GAMING TAX RETURN
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ROGER KENNER ERICA KENNER DIRECTOR DIRECTOR FATHER/DAUGHTER
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1OPEN FOR REVIEW AT BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS ARE PROVIDED UPON REQUEST
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Document Assets

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Filings

Displayed year

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

Open filing
Assets
$913,467
Liabilities
$0
Net assets
$913,467
Revenue
$279,437
Expenses
$173,252
Net income
$106,185
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.10$0.00$1.10$0.29$0.19$0.10
2023Detailed filing. Detailed filing data is available for this year.$1.00$0.00$1.00$0.30$0.21$0.09
2022Detailed filing. Detailed filing data is available for this year.$0.91$0.00$0.91$0.28$0.17$0.11
2021Detailed filing. Detailed filing data is available for this year.$0.81$0.00$0.81$0.35$0.13$0.22
2020Detailed filing. Detailed filing data is available for this year.$0.60$0.02$0.59$0.34$0.04$0.30
2019Detailed filing. Detailed filing data is available for this year.$0.29$0.00$0.29$0.08$0.07$0.01
2018Detailed filing. Detailed filing data is available for this year.$0.28$0.00$0.28$0.08$0.06$0.03
2017Detailed filing. Detailed filing data is available for this year.$0.25$0.00$0.25$0.06$0.05$0.01
2016Detailed filing. Detailed filing data is available for this year.$0.24$0.00$0.24$0.06$0.03$0.03
2015Detailed filing. Detailed filing data is available for this year.$0.21$0.00$0.21$0.06$0.05$0.00