Civic Intelligence

Alexandra Area Econmocy Development Commission

990 • Fiscal year 2017 • EIN 41-1670874

Jan 01, 2017 to Dec 31, 2017 • Filed on Oct 09, 2018

Organization ProfileWWW.ALEXMN.ORG
324 Broadway Street Rm/Ste 101Alexandria, MN 56308

(320) 763-4545

Siviq Scores

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

Liabilities / Assets

44th percentile

0.04x

Higher debt load relative to assets than 44% of similar nonprofits.

2017 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

60th percentile

0.12x

Higher debt load relative to revenue than 60% of similar nonprofits.

2017 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2017

Net Margin

28th percentile

-1.9%

Higher net margin than 28% of similar nonprofits.

2017 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

54th percentile

$70,000

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 20.6% of source-year revenue.

2017 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2017

Asset Growth

32nd percentile

-1.1%

Faster asset growth than 32% of similar nonprofits.

2017 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Revenue Growth

40th percentile

0.1%

Faster revenue growth than 40% of similar nonprofits.

2017 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets44th percentile

Assets

Down

$963,003

Down $10,863 (-1.1%) from 2016

Net Assets

Down

$922,321

Down $6,565 (-0.7%) from 2016

Liabilities

Down

$40,682

Down $4,298 (-9.6%) from 2016

Revenue And Expenses
Liabilities / Revenue60th percentileNet Margin28th percentile

Revenue

Up

$339,909

Up $199 (+0.1%) from 2016

Expenses

Up

$346,474

Up $31,990 (+10%) from 2016

Net Income

Down

-$6,565

Down $31,791 (-126%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth32nd percentile

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

$1.5M$1.0M$500K$0Assets 2010: $683,524Liabilities 2010: $37,060Net Assets 2010: $646,4642010Assets 2011: $749,322Liabilities 2011: $42,503Net Assets 2011: $706,8192011Assets 2012: $818,285Liabilities 2012: $51,396Net Assets 2012: $766,8892012Assets 2013: $840,772Liabilities 2013: $47,505Net Assets 2013: $793,2672013Assets 2014: $867,928Liabilities 2014: $72,709Net Assets 2014: $795,2192014Assets 2015: $929,655Liabilities 2015: $25,995Net Assets 2015: $903,6602015Assets 2016: $973,866Liabilities 2016: $44,980Net Assets 2016: $928,8862016Assets 2017: $963,003Liabilities 2017: $40,682Net Assets 2017: $922,3212017Assets 2018: $1,000,313Liabilities 2018: $26,708Net Assets 2018: $973,6052018Assets 2019: $1,045,668Liabilities 2019: $36,420Net Assets 2019: $1,009,2482019Assets 2020: $1,050,476Liabilities 2020: $23,990Net Assets 2020: $1,026,4862020Assets 2021: $1,049,646Liabilities 2021: $39,392Net Assets 2021: $1,010,2542021Assets 2022: $985,826Liabilities 2022: $49,288Net Assets 2022: $936,5382022Assets 2023: $921,505Liabilities 2023: $53,908Net Assets 2023: $867,5972023Assets 2024: $997,634Liabilities 2024: $30,567Net Assets 2024: $967,0672024

Highlighted filing

2017

Assets$963,003
Liabilities$40,682
Net Assets$922,321
Open 2017 Filing

Operations Trend

Revenue Growth40th percentile

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

$600K$400K$200K$0-$200KExpenses 2010: $267,4982010Expenses 2011: $243,4932011Expenses 2012: $299,6692012Revenue 2013: $309,109Expenses 2013: $282,731Net Income 2013: $26,3782013Revenue 2014: $340,424Expenses 2014: $338,472Net Income 2014: $1,9522014Revenue 2015: $367,851Expenses 2015: $259,410Net Income 2015: $108,4412015Revenue 2016: $339,710Expenses 2016: $314,484Net Income 2016: $25,2262016Revenue 2017: $339,909Expenses 2017: $346,474Net Income 2017: -$6,5652017Revenue 2018: $344,462Expenses 2018: $293,178Net Income 2018: $51,2842018Revenue 2019: $341,394Expenses 2019: $305,751Net Income 2019: $35,6432019Revenue 2020: $320,344Expenses 2020: $303,106Net Income 2020: $17,2382020Revenue 2021: $327,097Expenses 2021: $343,329Net Income 2021: -$16,2322021Revenue 2022: $338,799Expenses 2022: $412,515Net Income 2022: -$73,7162022Revenue 2023: $360,727Expenses 2023: $429,668Net Income 2023: -$68,9412023Revenue 2024: $447,049Expenses 2024: $347,579Net Income 2024: $99,4702024

Highlighted filing

2017

Revenue$339,909
Expenses$346,474
Net Income-$6,565
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Oct 9, 2018
Return Version
2017v2.3
Gross Receipts
$339,909
Mission and Program Overview

Mission

The alexandria area economic development commission is organized to assist manufacturing and other businesses to locate or expand in the alexandria minnesota area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$601,390$621,828▲ $20,438
Other Notes and Loans Receivable, Net$225,991$163,992▼ $61,999
Accounts Receivable-$123,897-
Cash and Non-Interest-Bearing Accounts$137,968$46,526▼ $91,442
Prepaid Expenses and Deferred Charges$3,757$3,757→ $0
Land, Buildings, and Equipment, Net$4,760$3,003▼ $1,757
Total Assets$973,866$963,003▼ $10,863
Liabilities
Accounts Payable and Accrued Expenses$44,980$40,682▼ $4,298
Total Liabilities$44,980$40,682▼ $4,298
Net Assets / Fund Balance
Unrestricted Net Assets$605,528$590,878▼ $14,650
Permanently Rstr Net Assets$323,358$331,443▲ $8,085
Total Net Assets Fund Balance$928,886$922,321▼ $6,565
Total Liabilities and Net Assets / Fund Balance$973,866$963,003▼ $10,863

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$3,003$29,072$32,075
Compensation and Service Providers
Top Officer Pay54th percentile

Employees

NameTitleBaseTotal
Nicole FernholzExecutive Di$70,000$70,000

Board Members and Trustees

NameTitle
Mark GrandgenettPresident
Bruce MckirdyDirector
Edward ReifDirector
Jeff PatienceDirector
Mark HintermeyerDirector
Nicole KlimekDirector
Julie CritzSecretary/tr
Joani NelsonVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$325,772
Investment Income
$14,137
Other Revenue
$0
Change in Net Assets
$-6,565
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$206,963
Other Expenses$139,511
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$85,731--$85,731
Current Officers, Directors, Trustees, and Key Employees$70,000--$70,000
Other Employee Benefits$35,644--$35,644
Advertising$31,887--$31,887
Office Expenses-$29,817-$29,817
Occupancy-$19,508-$19,508
Conferences and Meetings$9,113$3,135-$12,248
Payroll Taxes$11,139--$11,139
Fees for Services Accounting-$6,590-$6,590
Travel-$5,099-$5,099
Pension Plan Contributions$4,449--$4,449
Other Expenses$1,842--$1,842
Depreciation Depletion$868$889-$1,757
Insurance-$971-$971
Total Functional Expenses$280,465$66,009$0$346,474
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
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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 11B

“Board of directors and executive director review of 990 prepared by independent accountant.”

Form 990, Page 6, Part VI, Line 19

“Governing documents and financial statements are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Alexandria Area Economic
EIN
41-1670874
Phone
3207634545
Address
324 BROADWAY STREET RM/STE 101, ALEXANDRIA, MN 56308

Signing Officer

Name
Nicole Fernholz
Title
Executive Director
Phone
3207634545
Signed
2018-10-09

Organization Details

Principal Officer
Nicole Fernholz
Formed
2004
Legal Domicile
Mn
Voting Board Members
8
Independent Board Members
8
Employees
3

Preparer

Firm
Larter CPA Group Ltd
Address
1017 BROADWAY ST SUITE 3, ALEXANDRIA, MN 56308-2649
Preparer
Leslie H Larter
Phone
3207636648
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“Provide resources and capital for business and community development in the alexandria minnesota area.”

Raw XML Appendix368 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PROVIDE RESOURCES AND CAPITAL FOR BUSINESS AND COMMUNITY DEVELOPMENT IN THE ALEXANDRIA MINNESOTA AREA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD OF DIRECTORS AND EXECUTIVE DIRECTOR REVIEW OF 990 PREPARED BY INDEPENDENT ACCOUNTANT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0610 FILLMORE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0ALEXANDRA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0MN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd056308
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0CONTRACT
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0LAKES AREA ECONOMIC DEVELOPMENT
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine2Txt0AUTHORITY
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0C
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0973866
IRS990/TotalAssetsEOYAmt0963003
IRS990/TotalAssetsGrp/BOYAmt0973866
IRS990/TotalAssetsGrp/EOYAmt0963003
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt066009
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0280465
IRS990/TotalFunctionalExpensesGrp/TotalAmt0346474
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt044980
IRS990/TotalLiabilitiesEOYAmt040682
IRS990/TotalLiabilitiesGrp/BOYAmt044980
IRS990/TotalLiabilitiesGrp/EOYAmt040682
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0928886
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0922321
IRS990/TotalOtherProgSrvcExpenseAmt0102502
IRS990/TotalProgramServiceExpensesAmt0280465
IRS990/TotalProgramServiceRevenueAmt0325772
IRS990/TotalReportableCompFromOrgAmt070000
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0339909
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0339909
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0973866
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0963003
IRS990/TravelGrp/ManagementAndGeneralAmt05099
IRS990/TravelGrp/TotalAmt05099
IRS990/TypeOfOrganizationAssocInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0605528
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0590878
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0324 BROADWAY STREET
IRS990/USAddress/AddressLine2Txt0SUITE 101
IRS990/USAddress/CityNm0ALEXANDRIA
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd056308
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0WWW.ALEXMN.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/PersonNm0NICOLE FERNHOLZ
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum03207634545
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-10-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ALEXANDRIA AREA ECONOMIC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DEVELOPMENT COMMISSION
ReturnHeader/Filer/BusinessNameControlTxt0ALEX
ReturnHeader/Filer/EIN0411670874
ReturnHeader/Filer/PhoneNum03207634545
ReturnHeader/Filer/USAddress/AddressLine1Txt0324 BROADWAY STREET RM/STE 101
ReturnHeader/Filer/USAddress/CityNm0ALEXANDRIA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd056308
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId07E4EB3D18EDD934773869158F0A07643C6F58E73
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId08A8728F0D1906A260A47130BC3D2B2B3B449EAD4
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt024.181.150.98
ReturnHeader/FilingSecurityInformation/IPDt02018-11-08
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm013:33:47
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0411860856
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0LARTER CPA GROUP LTD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01017 BROADWAY ST SUITE 3
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ALEXANDRIA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0563082649
ReturnHeader/PreparerPersonGrp/PhoneNum03207636648
ReturnHeader/PreparerPersonGrp/PreparationDt02018-10-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LESLIE H LARTER
ReturnHeader/ReturnTs02018-11-08T13:33:47-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$963,003
Liabilities
$40,682
Net assets
$922,321
Revenue
$339,909
Expenses
$346,474
Net income
-$6,565
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.00$0.03$0.97$0.45$0.35$0.10
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.92$0.05$0.87$0.36$0.43$0.07
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.99$0.05$0.94$0.34$0.41$0.07
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.05$0.04$1.01$0.33$0.34$0.02
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.05$0.02$1.03$0.32$0.30$0.02
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.05$0.04$1.01$0.34$0.31$0.04
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.00$0.03$0.97$0.34$0.29$0.05
2017Detailed filing. Detailed filing data is available for this year.$0.96$0.04$0.92$0.34$0.35$0.01
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.97$0.04$0.93$0.34$0.31$0.03
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.93$0.03$0.90$0.37$0.26$0.11
2014Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$0.87$0.07$0.80$0.34$0.34$0.00
2013Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$0.84$0.05$0.79$0.31$0.28$0.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.82$0.05$0.77$0.30
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.75$0.04$0.71$0.24
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.68$0.04$0.65$0.27