Civic Intelligence

Fergus Falls Area Economic Improvement Commission Inc

990 • Fiscal year 2014 • EIN 41-1756012

Jan 01, 2014 to Dec 31, 2014 • Filed on May 14, 2015

Organization ProfileWWW.FFEIC.ORG
112 West Washington AveFergus Falls, MN 56537

(218) 739-2251

Siviq Scores

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

Liabilities / Assets

35th percentile

0.00x

Higher debt load relative to assets than 35% of similar nonprofits.

2014 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2014

Liabilities / Revenue

36th percentile

0.00x

Higher debt load relative to revenue than 36% of similar nonprofits.

2014 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2014

Net Margin

84th percentile

31%

Higher net margin than 84% of similar nonprofits.

2014 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2014

Top Officer Pay

67th percentile

$0

Higher top officer pay than 67% of similar nonprofits.

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

2014 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2014

Asset Growth

71st percentile

7.7%

Faster asset growth than 71% of similar nonprofits.

2014 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2013 to 2014

Revenue Growth

26th percentile

-6.6%

Faster revenue growth than 26% of similar nonprofits.

2014 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets35th percentile

Assets

Up

$565,583

Up $40,388 (+7.7%) from 2013

Net Assets

Up

$564,723

Up $57,329 (+11%) from 2013

Liabilities

Down

$860

Down $16,941 (-95%) from 2013

Revenue And Expenses
Liabilities / Revenue36th percentileNet Margin84th percentile

Revenue

Down

$183,770

Down $13,030 (-6.6%) from 2013

Expenses

Down

$126,441

Down $59,879 (-32%) from 2013

Net Income

Up

$57,329

Up $46,849 (+447%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth71st percentile

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

$800K$600K$400K$200K$0Assets 2010: $481,138Liabilities 2010: $15,389Net Assets 2010: $465,7492010Assets 2011: $512,953Liabilities 2011: $13,485Net Assets 2011: $499,4682011Assets 2012: $510,711Liabilities 2012: $13,797Net Assets 2012: $496,9142012Assets 2013: $525,195Liabilities 2013: $17,801Net Assets 2013: $507,3942013Assets 2014: $565,583Liabilities 2014: $860Net Assets 2014: $564,7232014Assets 2015: $610,238Liabilities 2015: $31,528Net Assets 2015: $578,7102015Assets 2016: $625,394Liabilities 2016: $80,656Net Assets 2016: $544,7382016Assets 2017: $558,048Liabilities 2017: $7,664Net Assets 2017: $550,3842017Assets 2018: $446,202Liabilities 2018: $4,630Net Assets 2018: $441,5722018Assets 2019: $398,674Net Assets 2019: $398,6742019Assets 2020: $401,732Net Assets 2020: $401,7322020

Highlighted filing

2014

Assets$565,583
Liabilities$860
Net Assets$564,723
Open 2014 Filing

Operations Trend

Revenue Growth26th percentile

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

$300K$200K$100K$0-$100K-$200KRevenue 2010: $186,976Expenses 2010: $166,833Net Income 2010: $20,1432010Expenses 2011: $177,3052011Expenses 2012: $188,9212012Revenue 2013: $196,800Expenses 2013: $186,320Net Income 2013: $10,4802013Revenue 2014: $183,770Expenses 2014: $126,441Net Income 2014: $57,3292014Revenue 2015: $168,667Expenses 2015: $154,680Net Income 2015: $13,9872015Revenue 2016: $192,895Expenses 2016: $226,867Net Income 2016: -$33,9722016Revenue 2017: $73,279Expenses 2017: $67,633Net Income 2017: $5,6462017Revenue 2018: $45,382Expenses 2018: $154,194Net Income 2018: -$108,8122018Revenue 2019: $17,650Expenses 2019: $60,548Net Income 2019: -$42,8982019Revenue 2020: $33,808Expenses 2020: $30,750Net Income 2020: $3,0582020

Highlighted filing

2014

Revenue$183,770
Expenses$126,441
Net Income$57,329
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
May 14, 2015
Return Version
2014v5.0
Gross Receipts
$183,770
Mission and Program Overview

Mission

Further the economic development in fergus falls, minnesota by aiding and promoting the attraction and expansion of local businesses.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$373,712$354,928▼ $18,784
Other Notes and Loans Receivable, Net$149,559$208,568▲ $59,009
Total Assets$525,195$565,583▲ $40,388
Other Assets Total$1,924$2,087▲ $163
Liabilities
Accounts Payable and Accrued Expenses$17,801$860▼ $16,941
Total Liabilities$17,801$860▼ $16,941
Net Assets / Fund Balance
Unrestricted Net Assets$507,394$564,723▲ $57,329
Total Net Assets Fund Balance$507,394$564,723▲ $57,329
Total Liabilities and Net Assets / Fund Balance$525,195$565,583▲ $40,388
Compensation and Service Providers
Top Officer Pay67th percentile

Board Members and Trustees

NameTitle
Jeff AckersonChairman
Gary SpiesVice Chairma
Anthony HicksDirector
Gordon HydukovichDirector
Greg SmithDirector
Leon KellerDirector
Mayor Hal LelandDirector
Mark SievertEx-officio
Brad HowlandSecretary
Melissa RogersTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$153,043
Program Service Revenue
$10,926
Investment Income
$0
Other Revenue
$19,801
Change in Net Assets
$57,329

Audited Revenue Reconciliation

Revenue per Audited Statements
$183,770
Total Revenue per Audited Statements
$183,770
Total Revenue per Form 990
$183,770
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$84,830
Other Expenses$39,123
Total Fundraising Expense$16,690
Grants and Similar Amounts Paid$2,488
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$44,428$19,565$14,809$78,802
Travel$7,785--$7,785
Advertising$6,839--$6,839
Other Employee Benefits$3,391$1,507$1,130$6,028
Fees for Services Accounting-$3,310-$3,310
Grants to Domestic Orgs$2,488--$2,488
Insurance$1,508$754-$2,262
Other Expenses$449$448$449$1,346
Office Expenses$429$344$302$1,075
All Other Expenses$699--$699
Total Functional Expenses$83,823$25,928$16,690$126,441

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$126,441
Total Expenses per Audited Statements$126,441
Total Expenses per Form 990$126,441
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
No
Annual disclosure for covered persons
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
Yes
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

“The board reviews and the board chair signs the form on behalf of the organization.”

Form 990, Page 6, Part VI, Line 12C

“Information is disclosed. Forms are updated annually kept in files in the office.”

Form 990, Page 6, Part VI, Line 19

“Documents are provided upon request.”

Filing and Contact Details

Filer

Filer Name
Fergus Falls Area Economic
EIN
41-1756012
Phone
2187392251
Address
112 WEST WASHINGTON AVE, FERGUS FALLS, MN 56537

Signing Officer

Name
Jeff Ackerson
Title
President
Phone
2187392251
Signed
2015-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jack Ackerson
Legal Domicile
Mn
Voting Board Members
10
Independent Board Members
10
Employees
2

Preparer

Firm
Carlson Highland & Co Llp
Address
403 S UNION AVE, FERGUS FALLS, MN 56537
Preparer
Catherine Kulig CPA
Phone
2187393267
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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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IRS990/UnrestrictedNetAssetsGrp/EOYAmt0564723
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0112 WEST WASHINGTON AVE
IRS990/USAddress/CityNm0FERGUS FALLS
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd056537
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-03-07 17:11:31Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JEFF ACKERSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02187392251
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-05-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FERGUS FALLS AREA ECONOMIC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0IMPROVEMENT COMMISSION INC
ReturnHeader/Filer/BusinessNameControlTxt0FERG
ReturnHeader/Filer/EIN0411756012
ReturnHeader/Filer/PhoneNum02187392251
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0403 S UNION AVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0FERGUS FALLS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd056537
ReturnHeader/PreparerPersonGrp/PhoneNum02187393267
ReturnHeader/PreparerPersonGrp/PreparationDt02015-05-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CATHERINE KULIG CPA
ReturnHeader/ReturnTs02015-05-14T12:31:16-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$565,583
Liabilities
$860
Net assets
$564,723
Revenue
$183,770
Expenses
$126,441
Net income
$57,329
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2020Detailed filing. Detailed filing data is available for this year.$4.02$4.02$0.34$0.31$0.03
2019Detailed filing. Detailed filing data is available for this year.$3.99$3.99$0.18$0.61$0.43
2018Detailed filing. Detailed filing data is available for this year.$4.46$0.05$4.42$0.45$1.54$1.09
2017Detailed filing. Detailed filing data is available for this year.$5.58$0.08$5.50$0.73$0.68$0.06
2016Detailed filing. Detailed filing data is available for this year.$6.25$0.81$5.45$1.93$2.27$0.34
2015Detailed filing. Detailed filing data is available for this year.$6.10$0.32$5.79$1.69$1.55$0.14
2014Detailed filing. Detailed filing data is available for this year.$5.66$0.01$5.65$1.84$1.26$0.57
2013Detailed filing. Detailed filing data is available for this year.$5.25$0.18$5.07$1.97$1.86$0.10
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.11$0.14$4.97$1.89
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.13$0.13$4.99$1.77
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.81$0.15$4.66$1.87$1.67$0.20