Civic Intelligence

Lake Agassiz Regional Development Corporation

990 • Fiscal year 2015 • EIN 45-0404558

Jan 01, 2015 to Dec 31, 2015 • Filed on Jun 13, 2016

417 Main AvenueFargo, ND 58103

(701) 235-1197

Siviq Scores

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

Liabilities / Assets

76th percentile

0.53x

Higher debt load relative to assets than 76% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Liabilities / Revenue

92nd percentile

3.59x

Higher debt load relative to revenue than 92% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Net Margin

64th percentile

7.6%

Higher net margin than 64% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Top Officer Pay

29th percentile

$74,946

Higher top officer pay than 29% of similar nonprofits.

Top officer pay equals 7.9% of source-year revenue.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Asset Growth

57th percentile

2.4%

Faster asset growth than 57% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Revenue Growth

30th percentile

-3.3%

Faster revenue growth than 30% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Assets

Up

$6,465,549

Up $149,650 (+2.4%) from 2014

Net Assets

Up

$3,039,966

Up $72,865 (+2.5%) from 2014

Liabilities

Up

$3,425,583

Up $76,785 (+2.3%) from 2014

Revenue

Down

$952,880

Down $32,289 (-3.3%) from 2014

Expenses

Down

$880,015

Down $61,658 (-6.5%) from 2014

Net Income

Up

$72,865

Up $29,369 (+68%) from 2014

Historical Trend

Balance Sheet Trend

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2010: $7,125,857Liabilities 2010: $4,190,080Net Assets 2010: $2,935,7772010Assets 2011: $6,656,591Liabilities 2011: $3,810,159Net Assets 2011: $2,846,4322011Assets 2012: $6,716,613Liabilities 2012: $3,780,038Net Assets 2012: $2,936,5752012Assets 2013: $6,592,898Liabilities 2013: $3,693,313Net Assets 2013: $2,899,5852013Assets 2014: $6,315,899Liabilities 2014: $3,348,798Net Assets 2014: $2,967,1012014Assets 2015: $6,465,549Liabilities 2015: $3,425,583Net Assets 2015: $3,039,9662015Assets 2016: $6,348,475Liabilities 2016: $3,205,958Net Assets 2016: $3,142,5172016Assets 2017: $6,119,266Liabilities 2017: $3,000,030Net Assets 2017: $3,119,2362017Assets 2018: $5,994,258Liabilities 2018: $2,803,259Net Assets 2018: $3,190,9992018Assets 2019: $6,309,784Liabilities 2019: $3,002,931Net Assets 2019: $3,306,8532019Assets 2020: $6,789,842Liabilities 2020: $3,321,604Net Assets 2020: $3,468,2382020Assets 2021: $6,919,532Liabilities 2021: $3,128,679Net Assets 2021: $3,790,8532021Assets 2022: $6,609,256Liabilities 2022: $2,811,341Net Assets 2022: $3,797,9152022Assets 2023: $6,313,719Liabilities 2023: $2,519,873Net Assets 2023: $3,793,8462023Assets 2024: $6,440,859Liabilities 2024: $2,536,923Net Assets 2024: $3,903,9362024

Highlighted filing

2015

Assets$6,465,549
Liabilities$3,425,583
Net Assets$3,039,966

Operations Trend

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

$1.5M$1.0M$500K$0-$500KExpenses 2010: $753,3962010Expenses 2011: $1,020,6762011Expenses 2012: $816,4692012Revenue 2013: $762,084Expenses 2013: $782,327Net Income 2013: -$20,2432013Revenue 2014: $985,169Expenses 2014: $941,673Net Income 2014: $43,4962014Revenue 2015: $952,880Expenses 2015: $880,015Net Income 2015: $72,8652015Revenue 2016: $813,678Expenses 2016: $711,127Net Income 2016: $102,5512016Revenue 2017: $1,017,463Expenses 2017: $1,040,744Net Income 2017: -$23,2812017Revenue 2018: $1,074,260Expenses 2018: $1,002,497Net Income 2018: $71,7632018Revenue 2019: $936,762Expenses 2019: $820,908Net Income 2019: $115,8542019Revenue 2020: $1,049,464Expenses 2020: $888,079Net Income 2020: $161,3852020Revenue 2021: $1,263,112Expenses 2021: $940,497Net Income 2021: $322,6152021Revenue 2022: $1,028,697Expenses 2022: $1,021,635Net Income 2022: $7,0622022Revenue 2023: $1,082,438Expenses 2023: $1,086,507Net Income 2023: -$4,0692023Revenue 2024: $1,112,933Expenses 2024: $1,002,843Net Income 2024: $110,0902024

Highlighted filing

2015

Revenue$952,880
Expenses$880,015
Net Income$72,865
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Jun 13, 2016
Return Version
2015v2.1
Gross Receipts
$952,880
Mission and Program Overview

Mission

To identify and provide financing opportunities and technical assistance to emerging and existing businesses, provide community and economic development planning and implementation for the long-term sustainability and growth of the region, and to coordinate federal, state, and private program administration.

Provides community planning and economic development assistance to a six-county region of southeastern north dakota.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$3,225,594$3,203,216▼ $22,378
Cash and Non-Interest-Bearing Accounts$1,233,581$1,561,642▲ $328,061
Land, Buildings, and Equipment, Net$1,133,184$1,108,913▼ $24,271
Investments Other Securities$596,177$454,816▼ $141,361
Accounts Receivable$127,363$136,962▲ $9,599
Total Assets$6,315,899$6,465,549▲ $149,650
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,154,237$3,280,729▲ $126,492
Accounts Payable and Accrued Expenses$160,543$135,074▼ $25,469
Other Liabilities$11,423$7,710▼ $3,713
Deferred Revenue$22,595$2,070▼ $20,525
Total Liabilities$3,348,798$3,425,583▲ $76,785
Net Assets / Fund Balance
Temporarily Rstr Net Assets$2,199,106$2,291,556▲ $92,450
Unrestricted Net Assets$767,995$748,410▼ $19,585
Total Net Assets Fund Balance$2,967,101$3,039,966▲ $72,865
Total Liabilities and Net Assets / Fund Balance$6,315,899$6,465,549▲ $149,650

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$564,109$1,027,250$1,591,359
Leasehold Improvements$310,707$206,110$516,817
Land$206,000-$206,000
Equipment$24,650$150,194$174,844
Other Land Buildings$3,447$21,457$24,904
Other Securities$454,816--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Donald LitchFinancial OfficerPT$74,946$74,946
Randy KingsleyExecutive Director (to 11/2015)FT$65,148$65,148
Amber SchaanExecutive Director (from 12/2015)FT$16,574$16,574

Board Members and Trustees

NameTitle
Rick MairsPresident
Dave McfarlandVice President
Larry JacobsenDirector
Robert WurlSecretary
Jay HenricksonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$205,585
Program Service Revenue
$533,856
Investment Income
$213,439
Other Revenue
$0
Change in Net Assets
$72,865

Audited Revenue Reconciliation

Revenue per Audited Statements
$908,380
Revenue Not Reported on Financial Statements
$44,500
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$44,500
Total Revenue per Audited Statements
$908,380
Total Revenue per Form 990
$952,880
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$451,187
Salaries, Compensation, and Employee Benefits$379,903
Grants and Similar Amounts Paid$48,925
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$177,577-$177,577
Current Officers, Directors, Trustees, and Key Employees-$156,668-$156,668
Depreciation Depletion$64,904--$64,904
Occupancy$58,246--$58,246
Interest$56,596$24-$56,620
Grants to Domestic Orgs$48,925--$48,925
Other Employee Benefits-$45,658-$45,658
Fees for Services Accounting$8,250$11,550-$19,800
All Other Expenses$4,923$14,169-$19,092
Other Expenses$13,363$8,063-$13,363
Insurance$3,490$8,566-$12,056
Office Expenses$8,232$2,581-$10,813
Fees for Services Legal$1,132$4,456-$5,588
Information Technology-$4,390-$4,390
Travel$350$2,673-$3,023
Advertising$50$37-$87
Total Functional Expenses$443,603$436,412$0$880,015

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$880,015
Total Expenses per Audited Statements$880,015
Total Expenses per Form 990$880,015
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Booth LLCFargo, ND-To Aide in the Growth of the Tech-based Business$9,700
Advanced Business SolutionsFargo, ND-To Aide in the Growth of the Tech-based Business$6,850
Kycker LLCFargo, ND-To Aide in the Growth of the Tech-based Business$6,850
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
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Capital Lease$7,710
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

Reviewed / approved by the board of directors.

Form 990, Part VI, Section B, Line 12C

The board of directors is periodically reminded of the conflict of interest policy and of the importance to adhere to it.

Form 990, Part VI, Section B, Line 15

The board approves compensation at rates of 3-5% annually, if feasible.

Form 990, Part VI, Section C, Line 19

UPON REQUEST

Filing and Contact Details

Filer

Filer Name
Lake Agassiz Regional Development
EIN
45-0404558
Phone
7012351197
Address
417 MAIN AVENUE, FARGO, ND 58103

Signing Officer

Name
Donald Litch
Title
CFO
Phone
7012351197
Signed
2016-06-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Donald Litch
Formed
1987
Legal Domicile
Nd
Voting Board Members
5
Independent Board Members
5
Employees
9
Volunteers
0

Preparer

Firm
Fiebiger Swanson West & Copllp
Address
2537 S UNIVERSITY DR STE 200, FARGO, ND 58103
Preparer
Jeremy Ulmer CPA
Phone
7012802100
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The organization did not change its oversight or selection process during the year.

Financial Statement Notes

PART X, LINE 2:

According to gaap, the corporation is required to record a liability for uncertain tax positions when it is probable that a loss has been incurred and the amount can be reasonably estimated. As of december 31, 2015, no such liability existed. Management will continually evaluate expiring statutes of limitations, audits, proposed settlements, changes in tax law, and new authoritative rulings.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Income from subsidiary (lahc) 44,500.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Expenses paid to subsidiary

FORM 990, PART XI, LINE 1 AND PART XII, LINE 1:

The audited financial statements include the consolidating numbers from a related entity. Part xi, line 1 and part xii, line 1 include the numbers for lake agassiz regional development corporation from the combined financial statements. The $44,500 represents the eliminating transactions between the two.

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IRS990/OtherExpensesGrp/Desc1REPAIRS & MAINTENANCE
IRS990/OtherExpensesGrp/Desc2MISCELLANEOUS EXPENSES
IRS990/OtherExpensesGrp/Desc3POSTAGE & SHIPPING
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt08063
IRS990/OtherExpensesGrp/ProgramServicesAmt0116051
IRS990/OtherExpensesGrp/ProgramServicesAmt136989
IRS990/OtherExpensesGrp/ProgramServicesAmt222102
IRS990/OtherExpensesGrp/ProgramServicesAmt313363
IRS990/OtherExpensesGrp/TotalAmt0116051
IRS990/OtherExpensesGrp/TotalAmt136989
IRS990/OtherExpensesGrp/TotalAmt230165
IRS990/OtherExpensesGrp/TotalAmt313363
IRS990/OtherLiabilitiesGrp/BOYAmt011423
IRS990/OtherLiabilitiesGrp/EOYAmt07710
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0177577
IRS990/OtherSalariesAndWagesGrp/TotalAmt0177577
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt03225594
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt03203216
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0DONALD LITCH
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0525990
IRS990/ProgramServiceRevenueGrp/BusinessCd1531110
IRS990/ProgramServiceRevenueGrp/Desc0SERVICE FEES AND OTHER
IRS990/ProgramServiceRevenueGrp/Desc1RENTS
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0376049
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1157807
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0376049
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1157807
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0242984
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0150877
IRS990/PYInvestmentIncomeAmt0314575
IRS990/PYOtherExpensesAmt0387428
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0427610
IRS990/PYRevenuesLessExpensesAmt043496
IRS990/PYSalariesCompEmpBnftPaidAmt0403368
IRS990/PYTotalExpensesAmt0941673
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0985169
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt072865
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd01
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0533856
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0205585
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0242984
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0163568
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0147585
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0229760
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0989482
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0198439
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0314575
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0203471
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0236846
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0215973
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt01169304
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt02183948
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.45840
IRS990ScheduleA/PublicSupportPY170Pct00.49030
IRS990ScheduleA/PublicSupportTotal170Amt0989482
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0205585
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0242984
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0163568
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0147585
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0229760
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0989482
IRS990ScheduleA/TotalSupportAmt02158786
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt0564109
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01027250
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01591359
IRS990ScheduleD/EquipmentGrp/BookValueAmt024650
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0150194
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0174844
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0880015
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt0206000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0206000
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0310707
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0206110
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0516817
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt03447
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt021457
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt024904
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt07710
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CAPITAL LEASE
IRS990ScheduleD/OtherRevenuesNotIncludedAmt044500
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt0454816
IRS990ScheduleD/OtherSecuritiesGrp/Desc0INVESTMENT IN LAKE AGASSIZ HOUSING CORP
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt044500
IRS990ScheduleD/RevenueSubtotalAmt0908380
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCORDING TO GAAP, THE CORPORATION IS REQUIRED TO RECORD A LIABILITY FOR UNCERTAIN TAX POSITIONS WHEN IT IS PROBABLE THAT A LOSS HAS BEEN INCURRED AND THE AMOUNT CAN BE REASONABLY ESTIMATED. AS OF DECEMBER 31, 2015, NO SUCH LIABILITY EXISTED. MANAGEMENT WILL CONTINUALLY EVALUATE EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW, AND NEW AUTHORITATIVE RULINGS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1INCOME FROM SUBSIDIARY (LAHC) 44,500.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2EXPENSES PAID TO SUBSIDIARY
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3THE AUDITED FINANCIAL STATEMENTS INCLUDE THE CONSOLIDATING NUMBERS FROM A RELATED ENTITY. PART XI, LINE 1 AND PART XII, LINE 1 INCLUDE THE NUMBERS FOR LAKE AGASSIZ REGIONAL DEVELOPMENT CORPORATION FROM THE COMBINED FINANCIAL STATEMENTS. THE $44,500 REPRESENTS THE ELIMINATING TRANSACTIONS BETWEEN THE TWO.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 1 AND PART XII, LINE 1:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01108913
IRS990ScheduleD/TotalBookValueSecuritiesAmt0454816
IRS990ScheduleD/TotalExpensesPerForm990Amt0880015
IRS990ScheduleD/TotalLiabilityAmt07710
IRS990ScheduleD/TotalRevenuePerForm990Amt0952880
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0908380
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0880015
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt06850
IRS990ScheduleI/RecipientTable/CashGrantAmt16850
IRS990ScheduleI/RecipientTable/CashGrantAmt29700
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0TO AIDE IN THE GROWTH OF THE TECH-BASED BUSINESS
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1TO AIDE IN THE GROWTH OF THE TECH-BASED BUSINESS
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2TO AIDE IN THE GROWTH OF THE TECH-BASED BUSINESS
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0ADVANCED BUSINESS SOLUTIONS
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1KYCKER LLC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2BOOTH LLC
IRS990ScheduleI/RecipientTable/RecipientEIN0461208769
IRS990ScheduleI/RecipientTable/RecipientEIN1471083250
IRS990ScheduleI/RecipientTable/RecipientEIN2473310741
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01351 PAGE DRIVE STE 208
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt11820 DAKOTA DR N 405
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt26164 18TH STREET SOUTH
IRS990ScheduleI/RecipientTable/USAddress/CityNm0FARGO
IRS990ScheduleI/RecipientTable/USAddress/CityNm1FARGO
IRS990ScheduleI/RecipientTable/USAddress/CityNm2FARGO
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0ND
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1ND
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2ND
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd0581033536
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd1581023298
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd258104
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0LARDC APPLIES FOR GRANT FUNDS ON BEHALF OF EACH INDIVIDUAL PROJECT. THE BUSINESS AND THE PROJECT MUST MEET ALL PROGRAM PARAMETERS LAID OUT BY THE ND DEPARTMENT OF COMMERCE. EACH PROJECT IS PRE-SCREENED AT LARDC BUT FINAL APPROVAL RESTS WITH ND DOC. INVOICES ARE REVIEWED BY TWO LARDC EMPLOYEES BEFORE THE INVOICES ARE PAID DIRECTLY OR THE BUSINESS IS REIMBURSED FOR EXPENSES INCURRED. THIS PROCESS ENSURES THE GRANTS ARE BEING UTILIZED PROPERLY BASED ON ND DOC GUIDELINES.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0REVIEWED / APPROVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS IS PERIODICALLY REMINDED OF THE CONFLICT OF INTEREST POLICY AND OF THE IMPORTANCE TO ADHERE TO IT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD APPROVES COMPENSATION AT RATES OF 3-5% ANNUALLY, IF FEASIBLE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION DID NOT CHANGE ITS OVERSIGHT OR SELECTION PROCESS DURING THE YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0LAKE AGASSIZ REGIONAL DEVELOPMENT CORPORATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0LAKE AGASSIZ HOUSING CORPORATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0450458458

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.44$2.54$3.90$1.11$1.00$0.11
2023Summary only. Only limited summary data is available for this year.$6.31$2.52$3.79$1.08$1.09$0.00
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.61$2.81$3.80$1.03$1.02$0.01
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.92$3.13$3.79$1.26$0.94$0.32
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.79$3.32$3.47$1.05$0.89$0.16
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.31$3.00$3.31$0.94$0.82$0.12
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.99$2.80$3.19$1.07$1.00$0.07
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.12$3.00$3.12$1.02$1.04$0.02
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.35$3.21$3.14$0.81$0.71$0.10
2015Detailed filing. Detailed filing data is available for this year.$6.47$3.43$3.04$0.95$0.88$0.07
2014Detailed filing. Detailed filing data is available for this year.$6.32$3.35$2.97$0.99$0.94$0.04
2013Detailed filing. Detailed filing data is available for this year.$6.59$3.69$2.90$0.76$0.78$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.72$3.78$2.94$0.82
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.66$3.81$2.85$1.02
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.13$4.19$2.94$0.75
Peer Organizations

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