Liabilities / Assets
Score unavailable
Liabilities-to-assets requires both liabilities and assets on the latest valid filing.
Fergus Falls Area Economic Improvement Commission Inc
EIN 41-1756012 • 501(c)4 • Fergus Falls, MN
Profile
Further the economic development in fergus falls, minnesota by aiding and promoting the attraction and expansion of local businesses.
Siviq Scores
Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.
No value available
Liabilities / Revenue
Score unavailable
Liabilities-to-revenue requires both liabilities and revenue on the latest valid filing.
Net Margin
63rd percentile
Higher net margin than 63% of similar nonprofits.
Top Officer Pay
89th percentile
Higher top officer pay than 89% of similar nonprofits.
Top officer pay equals 0.0% of source-year revenue.
Asset Growth
56th percentile
Faster asset growth than 56% of similar nonprofits.
Revenue Growth
93rd percentile
Faster revenue growth than 93% of similar nonprofits.
Balance Sheet
Assets
Up$401,732
Up $3,058 (+0.8%) from 2019
Liabilities
-
No earlier filing loaded for comparison.
Net Assets
Up$401,732
Up $3,058 (+0.8%) from 2019
Revenue
Up$33,808
Up $16,158 (+92%) from 2019
Expenses
Down$30,750
Down $29,798 (-49%) from 2019
Net Income
Up$3,058
Up $45,956 (+107%) from 2019
Trend Graphs
Filings
Most recent year
2020 • Form 990EZDetailed filing. Detailed filing data is available for this year.
- Assets
- $401,732
- Liabilities
- -
- Net assets
- $401,732
- Revenue
- $33,808
- Expenses
- $30,750
- Net income
- $3,058
Latest Filing Detail
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2020 to Dec 31, 2020
- Signed
- Oct 19, 2021
- Return Version
- 2020v4.0
- Gross Receipts
- $33,808
Mission and Program Overview
Mission
Further the economic development in fergus falls, minnesota by aiding and promoting the attraction and expansion of local businesses.
The goal of business development for fergus falls is to "promote the growth, expansion and development of business concerns, including small business concerns to encourage and assist in the location of new business and industry, rehabilitate and assist existing business firms and industry,- and thereby "contribute to the economic wellbeing of the area as measured by increased employment, payroll, business volume and other corresponding factors."
Program Services
| Description | Grants | Expenses |
|---|---|---|
| BDFF ACHIEVES ITS GOALS THROUGH THE ADMINISTRATION OF SEVERAL REVOLVING LOAN FUNDS. BDFF PROVIDES THE NECESSARY LEADERSHIP, EXPERTISE AND DIRECTION TO ASSIST THE CITY IN PROVIDING OVERSIGHT AND REVIEW OF REVOLVING LOAN FUND APPLICATIONS AND MAKES RECOMMENDATIONS FOR APPROVAL OF CREDIT-WORTHY APPLICATIONS TO THE CITY COUNCIL. | $24,250 | $28,463 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| ANTHONY HICKS | Chair | - | $0 | - | - |
| MIKEL OLSON | Director | - | $0 | - | - |
| MELISSA ROGERS | Director | - | $0 | - | - |
| JEFF STANISLAWSKI | Director | - | $0 | - | - |
| STEVE BRIMHALL | Director | - | $0 | - | - |
| KARLA CONNELLY | Director | - | $0 | - | - |
| LONNIE BALLWEG | Director | - | $0 | - | - |
| ANNIE DECKERT | Director | - | $0 | - | - |
| KLARA BECK | Director | - | $0 | - | - |
Filing and Contact Details
Filer
- Filer Name
- Fergus Falls Area Economic
- EIN
- 41-1756012
- Phone
- 2183325408
- Address
- 112 WEST WASHINGTON AVE, FERGUS FALLS, MN 56537
Signing Officer
- Name
- Klara Beck
- Title
- Director
- Phone
- 2187392251
- Signed
- 2021-10-19
- Discuss with paid preparer
- Yes
Preparer
- Firm
- Carlsonsv Llp
- Address
- 2450 COLLEGE WAY, FERGUS FALLS, MN 56537
- Preparer
- Dean Birkeland CPA
- Phone
- 2187393267
Supplemental Narrative
Additional Explanations
Form 990-ez, Part I, Line 16
“Expenses insurance 1,862 dues & subscriptions 18 forward fergus falls 695 business subsidies 3,500 total 6,075”
Form 990-ez, Part II, Line 24
“Interest receivable 1,245 1,181 due from other funds 116 0 total 1,361 1,181”
Form 990-ez, Part III
“The goal of business development for fergus falls is to "promote the growth, expansion and development of business concerns, including small business concerns to encourage and assist in the location of new business and industry, rehabilitate and assist existing business firms and industry,- and thereby "contribute to the economic wellbeing of the area as measured by increased employment, payroll, business volume and other corresponding factors."”
Form 990-ez, Part III, Line 28
“Bdff achieves its goals through the administration of several revolving loan funds. Bdff provides the necessary leadership, expertise and direction to assist the city in providing oversight and review of revolving loan fund applications and makes recommendations for approval of credit-worthy applications to the city council.”
Raw XML Appendix147 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.
| Path | # | Value |
|---|---|---|
| CompensationExplanation/CompensationExplanationGrp/PersonNm | 0 | ANTHONY HICKS |
| CompensationExplanation/CompensationExplanationGrp/PersonNm | 1 | MIKEL OLSON |
| CompensationExplanation/CompensationExplanationGrp/PersonNm | 2 | MELISSA ROGERS |
| CompensationExplanation/CompensationExplanationGrp/PersonNm | 3 | JEFF STANISLAWSKI |
| CompensationExplanation/CompensationExplanationGrp/PersonNm | 4 | STEVE BRIMHALL |
| CompensationExplanation/CompensationExplanationGrp/PersonNm | 5 | KARLA CONNELLY |
| CompensationExplanation/CompensationExplanationGrp/PersonNm | 6 | LONNIE BALLWEG |
| CompensationExplanation/CompensationExplanationGrp/PersonNm | 7 | ANNIE DECKERT |
| CompensationExplanation/CompensationExplanationGrp/PersonNm | 8 | KLARA BECK |
| IRS990EZ/ActivitiesNotPreviouslyRptInd | 0 | false |
| IRS990EZ/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt | 0 | CITY OF FERGUS FALLS |
| IRS990EZ/BooksInCareOfDetail/PhoneNum | 0 | 2183325400 |
| IRS990EZ/BooksInCareOfDetail/USAddress/AddressLine1Txt | 0 | 112 W WASHINGTON AVE |
| IRS990EZ/BooksInCareOfDetail/USAddress/CityNm | 0 | FERGUS FALLS |
| IRS990EZ/BooksInCareOfDetail/USAddress/StateAbbreviationCd | 0 | MN |
| IRS990EZ/BooksInCareOfDetail/USAddress/ZIPCd | 0 | 56537 |
| IRS990EZ/CashSavingsAndInvestmentsGrp/BOYAmt | 0 | 397313 |
| IRS990EZ/CashSavingsAndInvestmentsGrp/EOYAmt | 0 | 400551 |
| IRS990EZ/ChgMadeToOrgnzngDocNotRptInd | 0 | false |
| IRS990EZ/ContributionsGiftsGrantsEtcAmt | 0 | 15500 |
| IRS990EZ/DonorAdvisedFndsInd | 0 | false |
| IRS990EZ/EngagedInExcessBenefitTransInd | 0 | false |
| IRS990EZ/ExcessOrDeficitForYearAmt | 0 | 3058 |
| IRS990EZ/FeesAndOtherPymtToIndCntrctAmt | 0 | 425 |
| IRS990EZ/ForeignFinancialAccountInd | 0 | false |
| IRS990EZ/ForeignOfficeInd | 0 | false |
| IRS990EZ/Form1120PolFiledInd | 0 | false |
| IRS990EZ/Form990TotalAssetsGrp/BOYAmt | 0 | 398674 |
| IRS990EZ/Form990TotalAssetsGrp/EOYAmt | 0 | 401732 |
| IRS990EZ/GrantsAndSimilarAmountsPaidAmt | 0 | 24250 |
| IRS990EZ/GrossReceiptsAmt | 0 | 33808 |
| IRS990EZ/InfoInScheduleOPartIIIInd | 0 | X |
| IRS990EZ/InfoInScheduleOPartIIInd | 0 | X |
| IRS990EZ/InfoInScheduleOPartIInd | 0 | X |
| IRS990EZ/InvestmentIncomeAmt | 0 | 18308 |
| IRS990EZ/MadeLoansToFromOfficersInd | 0 | false |
| IRS990EZ/MethodOfAccountingAccrualInd | 0 | X |
| IRS990EZ/NetAssetsOrFundBalancesBOYAmt | 0 | 398674 |
| IRS990EZ/NetAssetsOrFundBalancesEOYAmt | 0 | 401732 |
| IRS990EZ/NetAssetsOrFundBalancesGrp/BOYAmt | 0 | 398674 |
| IRS990EZ/NetAssetsOrFundBalancesGrp/EOYAmt | 0 | 401732 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 0 | 1.00 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 1 | 0.50 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 2 | 0.50 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 3 | 0.50 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 4 | 0.50 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 5 | 0.50 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 6 | 0.50 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 7 | 0.50 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 8 | 0.50 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 0 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 1 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 2 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 3 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 4 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 5 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 6 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 7 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 8 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 0 | ANTHONY HICKS |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 1 | MIKEL OLSON |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 2 | MELISSA ROGERS |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 3 | JEFF STANISLAWSKI |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 4 | STEVE BRIMHALL |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 5 | KARLA CONNELLY |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 6 | LONNIE BALLWEG |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 7 | ANNIE DECKERT |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 8 | KLARA BECK |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 0 | CHAIR |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 1 | DIRECTOR |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 2 | DIRECTOR |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 3 | DIRECTOR |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 4 | DIRECTOR |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 5 | DIRECTOR |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 6 | DIRECTOR |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 7 | DIRECTOR |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 8 | DIRECTOR |
| IRS990EZ/OperateHospitalInd | 0 | false |
| IRS990EZ/Organization501cInd | 0 | X |
| IRS990EZ/OrganizationDissolvedEtcInd | 0 | false |
| IRS990EZ/OrganizationHadUBIInd | 0 | false |
| IRS990EZ/OtherAssetsTotalDetail/BOYAmt | 0 | 1361 |
| IRS990EZ/OtherAssetsTotalDetail/EOYAmt | 0 | 1181 |
| IRS990EZ/OtherExpensesTotalAmt | 0 | 6075 |
| IRS990EZ/PoliticalCampaignActyInd | 0 | false |
| IRS990EZ/PrimaryExemptPurposeTxt | 0 | THE GOAL OF BUSINESS DEVELOPMENT FOR FERGUS FALLS IS TO "PROMOTE THE GROWTH, EXPANSION AND DEVELOPMENT OF BUSINESS CONCERNS, INCLUDING SMALL BUSINESS CONCERNS TO ENCOURAGE AND ASSIST IN THE LOCATION OF NEW BUSINESS AND INDUSTRY, REHABILITATE AND ASSIST EXISTING BUSINESS FIRMS AND INDUSTRY,- AND THEREBY "CONTRIBUTE TO THE ECONOMIC WELLBEING OF THE AREA AS MEASURED BY INCREASED EMPLOYMENT, PAYROLL, BUSINESS VOLUME AND OTHER CORRESPONDING FACTORS." |
| IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt | 0 | BDFF ACHIEVES ITS GOALS THROUGH THE ADMINISTRATION OF SEVERAL REVOLVING LOAN FUNDS. BDFF PROVIDES THE NECESSARY LEADERSHIP, EXPERTISE AND DIRECTION TO ASSIST THE CITY IN PROVIDING OVERSIGHT AND REVIEW OF REVOLVING LOAN FUND APPLICATIONS AND MAKES RECOMMENDATIONS FOR APPROVAL OF CREDIT-WORTHY APPLICATIONS TO THE CITY COUNCIL. |
| IRS990EZ/ProgramSrvcAccomplishmentGrp/GrantsAndAllocationsAmt | 0 | 24250 |
| IRS990EZ/ProgramSrvcAccomplishmentGrp/ProgramServiceExpensesAmt | 0 | 28463 |
| IRS990EZ/ProhibitedTaxShelterTransInd | 0 | false |
| IRS990EZ/RelatedOrganizationCtrlEntInd | 0 | false |
| IRS990EZ/SubjectToProxyTaxInd | 0 | false |
| IRS990EZ/TanningServicesProvidedInd | 0 | false |
| IRS990EZ/TotalExpensesAmt | 0 | 30750 |
| IRS990EZ/TotalProgramServiceExpensesAmt | 0 | 28463 |
| IRS990EZ/TotalRevenueAmt | 0 | 33808 |
| IRS990EZ/TransactionWithControlEntInd | 0 | false |
| IRS990EZ/TypeOfOrganizationCorpInd | 0 | X |
| IRS990EZ/WebsiteAddressTxt | 0 | WWW.FFEIC.ORG |
| IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorNum | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine2 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt | 0 | RESTRICTED |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | EXPENSES INSURANCE 1,862 DUES & SUBSCRIPTIONS 18 FORWARD FERGUS FALLS 695 BUSINESS SUBSIDIES 3,500 TOTAL 6,075 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | INTEREST RECEIVABLE 1,245 1,181 DUE FROM OTHER FUNDS 116 0 TOTAL 1,361 1,181 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | THE GOAL OF BUSINESS DEVELOPMENT FOR FERGUS FALLS IS TO "PROMOTE THE GROWTH, EXPANSION AND DEVELOPMENT OF BUSINESS CONCERNS, INCLUDING SMALL BUSINESS CONCERNS TO ENCOURAGE AND ASSIST IN THE LOCATION OF NEW BUSINESS AND INDUSTRY, REHABILITATE AND ASSIST EXISTING BUSINESS FIRMS AND INDUSTRY,- AND THEREBY "CONTRIBUTE TO THE ECONOMIC WELLBEING OF THE AREA AS MEASURED BY INCREASED EMPLOYMENT, PAYROLL, BUSINESS VOLUME AND OTHER CORRESPONDING FACTORS." |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | BDFF ACHIEVES ITS GOALS THROUGH THE ADMINISTRATION OF SEVERAL REVOLVING LOAN FUNDS. BDFF PROVIDES THE NECESSARY LEADERSHIP, EXPERTISE AND DIRECTION TO ASSIST THE CITY IN PROVIDING OVERSIGHT AND REVIEW OF REVOLVING LOAN FUND APPLICATIONS AND MAKES RECOMMENDATIONS FOR APPROVAL OF CREDIT-WORTHY APPLICATIONS TO THE CITY COUNCIL. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990-EZ, PART I, LINE 16 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990-EZ, PART II, LINE 24 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990-EZ, PART III |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990-EZ, PART III, LINE 28 |
| ReturnHeader/BuildTS | 0 | 2022-09-23 18:48:47Z |
| ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd | 0 | true |
| ReturnHeader/BusinessOfficerGrp/PersonNm | 0 | KLARA BECK |
| ReturnHeader/BusinessOfficerGrp/PersonTitleTxt | 0 | DIRECTOR |
| ReturnHeader/BusinessOfficerGrp/PhoneNum | 0 | 2187392251 |
| ReturnHeader/BusinessOfficerGrp/SignatureDt | 0 | 2021-10-19 |
| ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt | 0 | FERGUS FALLS AREA ECONOMIC |
| ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt | 0 | IMPROVEMENT COMMISSION INC |
| ReturnHeader/Filer/BusinessNameControlTxt | 0 | FERG |
| ReturnHeader/Filer/EIN | 0 | 411756012 |
| ReturnHeader/Filer/PhoneNum | 0 | 2183325408 |
| ReturnHeader/Filer/USAddress/AddressLine1Txt | 0 | 112 WEST WASHINGTON AVE |
| ReturnHeader/Filer/USAddress/CityNm | 0 | FERGUS FALLS |
| ReturnHeader/Filer/USAddress/StateAbbreviationCd | 0 | MN |
| ReturnHeader/Filer/USAddress/ZIPCd | 0 | 56537 |
| ReturnHeader/PreparerFirmGrp/PreparerFirmEIN | 0 | 411562398 |
| ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt | 0 | CARLSONSV LLP |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt | 0 | 2450 COLLEGE WAY |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm | 0 | FERGUS FALLS |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd | 0 | MN |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd | 0 | 56537 |
| ReturnHeader/PreparerPersonGrp/PhoneNum | 0 | 2187393267 |
| ReturnHeader/PreparerPersonGrp/PreparationDt | 0 | 2021-10-19 |
| ReturnHeader/PreparerPersonGrp/PreparerPersonNm | 0 | DEAN BIRKELAND CPA |
| ReturnHeader/PreparerPersonGrp/SelfEmployedInd | 0 | X |
| ReturnHeader/ReturnTs | 0 | 2021-11-02T12:14:57-05:00 |
| ReturnHeader/ReturnTypeCd | 0 | 990EZ |
| ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm | 0 | KLARA |
| ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm | 0 | BECK |
| ReturnHeader/TaxPeriodBeginDt | 0 | 2020-01-01 |
| ReturnHeader/TaxPeriodEndDt | 0 | 2020-12-31 |
| ReturnHeader/TaxYr | 0 | 2020 |
Document Assets
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