Civic Intelligence

Alexandra Area Econmocy Development Commission

990 • Fiscal year 2023 • EIN 41-1670874

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

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

52nd percentile

0.06x

Higher debt load relative to assets than 52% of similar nonprofits.

2023 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

65th percentile

0.15x

Higher debt load relative to revenue than 65% of similar nonprofits.

2023 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2023

Net Margin

9th percentile

-19%

Higher net margin than 9% of similar nonprofits.

2023 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

82nd percentile

$130,000

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 36.0% of source-year revenue.

2023 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2023

Asset Growth

23rd percentile

-6.5%

Faster asset growth than 23% of similar nonprofits.

2023 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

47th percentile

6.5%

Faster revenue growth than 47% of similar nonprofits.

2023 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets52nd percentile

Assets

Down

$921,505

Down $64,321 (-6.5%) from 2022

Net Assets

Down

$867,597

Down $68,941 (-7.4%) from 2022

Liabilities

Up

$53,908

Up $4,620 (+9.4%) from 2022

Revenue And Expenses
Liabilities / Revenue65th percentileNet Margin9th percentile

Revenue

Up

$360,727

Up $21,928 (+6.5%) from 2022

Expenses

Up

$429,668

Up $17,153 (+4.2%) from 2022

Net Income

Up

-$68,941

Up $4,775 (+6.5%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth23rd 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

2023

Assets$921,505
Liabilities$53,908
Net Assets$867,597
Open 2023 Filing

Operations Trend

Revenue Growth47th 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

2023

Revenue$360,727
Expenses$429,668
Net Income-$68,941
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 14, 2024
Return Version
2023v5.0
Gross Receipts
$360,727
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$528,911$408,002▼ $120,909
Other Notes and Loans Receivable, Net$295,647$346,736▲ $51,089
Cash and Non-Interest-Bearing Accounts$59,548$163,010▲ $103,462
Accounts Receivable$97,963--
Prepaid Expenses and Deferred Charges$3,757$3,757→ $0
Total Assets$985,826$921,505▼ $64,321
Liabilities
Accounts Payable and Accrued Expenses$49,288$53,908▲ $4,620
Total Liabilities$49,288$53,908▲ $4,620
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$538,331$444,907▼ $93,424
Net Assets With Donor Restrictions$398,207$422,690▲ $24,483
Total Net Assets Fund Balance$936,538$867,597▼ $68,941
Total Liabilities and Net Assets / Fund Balance$985,826$921,505▼ $64,321

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$32,075$32,075
Compensation and Service Providers
Top Officer Pay82nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Nicole FernholzExecutive DiFT$130,000$130,000

Board Members and Trustees

NameTitle
Nicole KlimekPresident
Jeff PatienceDirector
Rick SanstedDirector
Ryan RooneyDirector
Todd PowersDirector
Vicki JodsaasDirector
Edward ReifTreasurer/se
Matthew FischerVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$332,538
Investment Income
$23,020
Other Revenue
$5,169
Change in Net Assets
$-68,941
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$234,183
Other Expenses$195,485
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees-$130,000-$130,000
Advertising$108,706--$108,706
Other Salaries and Wages$57,630--$57,630
Other Employee Benefits$27,284--$27,284
Occupancy-$24,972-$24,972
Fees for Services Other-$17,865-$17,865
Office Expenses-$14,551-$14,551
Payroll Taxes$13,643--$13,643
Pension Plan Contributions$5,626--$5,626
Fees for Services Accounting-$3,600-$3,600
Conferences and Meetings$2,278$865-$3,143
Travel-$1,971-$1,971
Other Expenses$1,671--$1,671
Insurance-$1,371-$1,371
Total Functional Expenses$234,473$195,195$0$429,668
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 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 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
2024-11-14

Organization Details

Principal Officer
Nicole Fernholz
Formed
2004
Legal Domicile
Mn
Voting Board Members
8
Independent Board Members
8
Employees
2

Preparer

Firm
Larter CPA Group Ltd
Address
1017 BROADWAY ST SUITE 3, ALEXANDRIA, MN 56308-2649
Preparer
Matthew Roggenbuck CPA
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 Appendix357 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/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/DisregardedEntityName/BusinessNameLine2Txt0AUTHORITY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0LEVY TAXES
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/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0985826
IRS990/TotalAssetsEOYAmt0921505
IRS990/TotalAssetsGrp/BOYAmt0985826
IRS990/TotalAssetsGrp/EOYAmt0921505
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0195195
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0234473
IRS990/TotalFunctionalExpensesGrp/TotalAmt0429668
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt049288
IRS990/TotalLiabilitiesEOYAmt053908
IRS990/TotalLiabilitiesGrp/BOYAmt049288
IRS990/TotalLiabilitiesGrp/EOYAmt053908
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0936538
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0867597
IRS990/TotalOtherProgSrvcExpenseAmt019306
IRS990/TotalProgramServiceExpensesAmt0234473
IRS990/TotalProgramServiceRevenueAmt0332538
IRS990/TotalReportableCompFromOrgAmt0130000
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0360727
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0360727
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0985826
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0921505
IRS990/TravelGrp/ManagementAndGeneralAmt01971
IRS990/TravelGrp/TotalAmt01971
IRS990/TypeOfOrganizationAssocInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
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/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/PersonNm0NICOLE FERNHOLZ
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum03207634545
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-14
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/IRSResponsiblePrtyInfoCurrInd0true
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/PreparationDt02024-11-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MATTHEW ROGGENBUCK CPA
ReturnHeader/ReturnTs02024-11-15T11:41:25-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$921,505
Liabilities
$53,908
Net assets
$867,597
Revenue
$360,727
Expenses
$429,668
Net income
-$68,941
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
2023Detailed filing. Detailed filing data is available for this year.$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
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2023 filings • 501(c)6 • $500k-$1M nonprofits