Civic Intelligence

Leeds Economic Development Corporation

990 • Fiscal year 2023 • EIN 36-3719006

Jan 01, 2023 to Dec 31, 2023 • Filed on May 14, 2024

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.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

11th percentile

0.00x

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

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Net Margin

91st percentile

29%

Higher net margin than 91% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

27th percentile

$0

Higher top officer pay than 27% of similar nonprofits.

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

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Asset Growth

60th percentile

9.5%

Faster asset growth than 60% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

45th percentile

6.1%

Faster revenue growth than 45% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets11th percentile

Assets

Up

$1,000,514

Up $87,047 (+9.5%) from 2022

Net Assets

Up

$1,000,514

Up $87,047 (+9.5%) from 2022

Liabilities

Flat

$0

Flat from 2022

Revenue And Expenses
Liabilities / Revenue11th percentileNet Margin91st percentile

Revenue

Up

$296,461

Up $17,024 (+6.1%) from 2022

Expenses

Up

$209,414

Up $36,162 (+21%) from 2022

Net Income

Down

$87,047

Down $19,138 (-18%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth60th 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

2023

Assets$1,000,514
Liabilities$0
Net Assets$1,000,514
Open 2023 Filing

Operations Trend

Revenue Growth45th 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

2023

Revenue$296,461
Expenses$209,414
Net Income$87,047
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 14, 2024
Return Version
2023v5.0
Gross Receipts
$4,054,167
Mission and Program Overview

Mission

Local economic development

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$380,356$415,170▲ $34,814
Land, Buildings, and Equipment, Net$378,173$361,603▼ $16,570
Savings and Temporary Cash Investments$154,938$223,741▲ $68,803
Total Assets$913,467$1,000,514▲ $87,047
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$913,467$1,000,514▲ $87,047
Total Net Assets Fund Balance$913,467$1,000,514▲ $87,047
Total Liabilities and Net Assets / Fund Balance$913,467$1,000,514▲ $87,047

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$316,229$180,575$496,804
Equipment$3,041$34,309$37,350
Land$26,309-$26,309
Leasehold Improvements$16,024$4,799$20,823
Compensation and Service Providers
Top Officer Pay27th percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$14,000
Investment Income
$5,699
Other Revenue
$276,762
Change in Net Assets
$87,047
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$166,495
Other Expenses$42,919
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs---$153,995
Depreciation Depletion---$16,570
Grants to Domestic Individuals---$12,500
Occupancy---$9,235
Other Expenses---$2,257
Fees for Services Accounting---$1,525
All Other Expenses---$248
Office Expenses---$30
Total Functional Expenses$0$0$0$209,414
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Leeds Community CenterLeeds, ND501c3Building Renovations$42,500
Leeds Park BoardLeeds, NDGovPool Project/operati$37,500
Little Lions DaycareLeeds, ND501c3Operating Expense$14,000
Tiny TreasuresLeeds, ND-Operating Expense$10,000
Leeds SchoolLeeds, ND-Educational Equip/su$8,745
Leeds Fire DepartmentLeeds, ND-Updated Traffic Ligh$7,500
Park Vue ApartmentsLeeds, ND-Security Cameras$5,500
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
Yes
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Gaming Gross Income$4,034,468
Gaming Direct Expenses$3,757,706
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
2024-05-14
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
Buchli Britsch & Svidal Pc
Address
415 6TH AVE NE, DEVILS LAKE, ND 58301
Preparer
Kathleen L Buchli CPA
Phone
7016628724
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt012500
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0BUSINESS START UP
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt01
IRS990ScheduleI/RecipientTable/CashGrantAmt042500
IRS990ScheduleI/RecipientTable/CashGrantAmt137500
IRS990ScheduleI/RecipientTable/CashGrantAmt214000
IRS990ScheduleI/RecipientTable/CashGrantAmt35500
IRS990ScheduleI/RecipientTable/CashGrantAmt48745
IRS990ScheduleI/RecipientTable/CashGrantAmt57500
IRS990ScheduleI/RecipientTable/CashGrantAmt610000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501C3
IRS990ScheduleI/RecipientTable/IRCSectionDesc1GOV
IRS990ScheduleI/RecipientTable/IRCSectionDesc2501C3
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0BUILDING RENOVATIONS
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1POOL PROJECT/OPERATI
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2OPERATING EXPENSE
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3SECURITY CAMERAS
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4EDUCATIONAL EQUIP/SU
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt5UPDATED TRAFFIC LIGH
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt6OPERATING EXPENSE
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0LEEDS COMMUNITY CENTER
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1LEEDS PARK BOARD
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2LITTLE LIONS DAYCARE
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3PARK VUE APARTMENTS
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4LEEDS SCHOOL
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt5LEEDS FIRE DEPARTMENT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt6TINY TREASURES
IRS990ScheduleI/RecipientTable/RecipientEIN0450362696
IRS990ScheduleI/RecipientTable/RecipientEIN1450363246
IRS990ScheduleI/RecipientTable/RecipientEIN2460541783
IRS990ScheduleI/RecipientTable/RecipientEIN3456016101
IRS990ScheduleI/RecipientTable/RecipientEIN4456000089
IRS990ScheduleI/RecipientTable/RecipientEIN5810963485
IRS990ScheduleI/RecipientTable/RecipientEIN6933851794
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0110 CENTRAL AVE S
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1PO BOX 331
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt2300 2ND AVE SW
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt3PO BOX 148
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt4530 1ST ST SE
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt5130 1ST AVE NW
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt6300 2ND AVE SW
IRS990ScheduleI/RecipientTable/USAddress/CityNm0LEEDS
IRS990ScheduleI/RecipientTable/USAddress/CityNm1LEEDS
IRS990ScheduleI/RecipientTable/USAddress/CityNm2LEEDS
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IRS990ScheduleI/RecipientTable/USAddress/CityNm4LEEDS
IRS990ScheduleI/RecipientTable/USAddress/CityNm5LEEDS
IRS990ScheduleI/RecipientTable/USAddress/CityNm6LEEDS
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
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0MAJORITY OF GRANTS ARE PAID OUT THROUGH THE GAMING FUNDS WHICH ARE MONITORED BY AND REPORTED TO THE ND ATTORNEY GENERAL QUARTERLY ON THE GAMING TAX RETURN
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PAGE 1, PART I, LINE 2
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0913467
IRS990/TotalAssetsEOYAmt01000514
IRS990/TotalAssetsGrp/BOYAmt0913467
IRS990/TotalAssetsGrp/EOYAmt01000514
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0209414
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0913467
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01000514
IRS990/TotalProgramServiceRevenueAmt014000
IRS990/TotalRevenueGrp/ExclusionAmt0282461
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt014000
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0296461
IRS990/TotalVolunteersCnt012
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0913467
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01000514
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt012
IRS990/VotingMembersIndependentCnt012
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0GLENN HOFFMANN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum07017397158
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LEEDS ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0LEED
ReturnHeader/Filer/EIN0363719006

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,000,514
Liabilities
$0
Net assets
$1,000,514
Revenue
$296,461
Expenses
$209,414
Net income
$87,047
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