Civic Intelligence

Grand Forks Region Economic Development

EIN 45-0410198 • 501(c)6 • Grand Forks, ND

View Organization Page

Profile

Promote economic growth in grand forks, north dakota and the surrounding communities through the attraction of new industries and expansion of current businesses.

120 North 4th StGrand Forks, ND 58203

www.grandforks.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

66th percentile

0.26x

Higher debt load relative to assets than 66% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

62nd percentile

0.26x

Higher debt load relative to revenue than 62% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Source year 2024

Net Margin

70th percentile

12%

Higher net margin than 70% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

73rd percentile

14%

Faster asset growth than 73% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

91st percentile

43%

Faster revenue growth than 91% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets66th percentile

Assets

Up

$1,541,452

Up $194,699 (+14%) from 2023

Liabilities

Up

$403,054

Up $11,715 (+3.0%) from 2023

Net Assets

Up

$1,138,398

Up $182,984 (+19%) from 2023

Operations
Liabilities / Revenue62nd percentileNet Margin70th percentile

Revenue

Up

$1,539,015

Up $465,821 (+43%) from 2023

Expenses

Up

$1,356,031

Up $282,885 (+26%) from 2023

Net Income

Up

$182,984

Up $182,936 (+381117%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth73rd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$10M$5.0M$0Assets 2010: $8,258,252Liabilities 2010: $3,962,754Net Assets 2010: $4,295,4982010Assets 2011: $837,577Liabilities 2011: $22,311Net Assets 2011: $815,2662011Assets 2012: $879,020Liabilities 2012: $28,255Net Assets 2012: $850,7652012Assets 2013: $967,055Liabilities 2013: $53,758Net Assets 2013: $913,2972013Assets 2014: $995,376Liabilities 2014: $41,095Net Assets 2014: $954,2812014Assets 2015: $1,115,589Liabilities 2015: $38,299Net Assets 2015: $1,077,2902015Assets 2016: $864,026Liabilities 2016: $40,199Net Assets 2016: $823,8272016Assets 2017: $922,684Liabilities 2017: $35,655Net Assets 2017: $887,0292017Assets 2018: $1,067,052Liabilities 2018: $26,835Net Assets 2018: $1,040,2172018Assets 2019: $1,052,131Liabilities 2019: $23,524Net Assets 2019: $1,028,6072019Assets 2020: $1,207,377Liabilities 2020: $57,670Net Assets 2020: $1,149,7072020Assets 2021: $1,227,539Liabilities 2021: $327,700Net Assets 2021: $899,8392021Assets 2022: $1,184,900Liabilities 2022: $229,534Net Assets 2022: $955,3662022Assets 2023: $1,346,753Liabilities 2023: $391,339Net Assets 2023: $955,4142023Assets 2024: $1,541,452Liabilities 2024: $403,054Net Assets 2024: $1,138,3982024

Highlighted filing

2024

Assets$1,541,452
Liabilities$403,054
Net Assets$1,138,398
Open 2024 Filing

Operations Trend

Revenue Growth91st percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2010: $735,7072010Expenses 2011: $735,5172011Expenses 2012: $780,1972012Revenue 2013: $835,834Expenses 2013: $749,787Net Income 2013: $86,0472013Revenue 2014: $872,019Expenses 2014: $831,035Net Income 2014: $40,9842014Revenue 2015: $924,422Expenses 2015: $801,413Net Income 2015: $123,0092015Revenue 2016: $879,125Expenses 2016: $851,624Net Income 2016: $27,5012016Revenue 2017: $914,400Expenses 2017: $851,198Net Income 2017: $63,2022017Revenue 2018: $977,626Expenses 2018: $824,438Net Income 2018: $153,1882018Revenue 2019: $908,233Expenses 2019: $919,843Net Income 2019: -$11,6102019Revenue 2020: $981,429Expenses 2020: $860,329Net Income 2020: $121,1002020Revenue 2021: $963,329Expenses 2021: $1,213,197Net Income 2021: -$249,8682021Revenue 2022: $1,009,895Expenses 2022: $954,368Net Income 2022: $55,5272022Revenue 2023: $1,073,194Expenses 2023: $1,073,146Net Income 2023: $482023Revenue 2024: $1,539,015Expenses 2024: $1,356,031Net Income 2024: $182,9842024

Highlighted filing

2024

Revenue$1,539,015
Expenses$1,356,031
Net Income$182,984
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$1,541,452
Liabilities
$403,054
Net assets
$1,138,398
Revenue
$1,539,015
Expenses
$1,356,031
Net income
$182,984
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.54$0.40$1.14$1.54$1.36$0.18
2023Detailed filing. Detailed filing data is available for this year.$1.35$0.39$0.96$1.07$1.07$0.00
2022Detailed filing. Detailed filing data is available for this year.$1.18$0.23$0.96$1.01$0.95$0.06
2021Detailed filing. Detailed filing data is available for this year.$1.23$0.33$0.90$0.96$1.21$0.25
2020Detailed filing. Detailed filing data is available for this year.$1.21$0.06$1.15$0.98$0.86$0.12
2019Detailed filing. Detailed filing data is available for this year.$1.05$0.02$1.03$0.91$0.92$0.01
2018Detailed filing. Detailed filing data is available for this year.$1.07$0.03$1.04$0.98$0.82$0.15
2017Detailed filing. Detailed filing data is available for this year.$0.92$0.04$0.89$0.91$0.85$0.06
2016Detailed filing. Detailed filing data is available for this year.$0.86$0.04$0.82$0.88$0.85$0.03
2015Detailed filing. Detailed filing data is available for this year.$1.12$0.04$1.08$0.92$0.80$0.12
2014Detailed filing. Detailed filing data is available for this year.$1.00$0.04$0.95$0.87$0.83$0.04
2013Detailed filing. Detailed filing data is available for this year.$0.97$0.05$0.91$0.84$0.75$0.09
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.88$0.03$0.85$0.78
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.84$0.02$0.82$0.74
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.26$3.96$4.30$0.74
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 9, 2025
Return Version
2024v5.2
Gross Receipts
$1,539,015
Mission and Program Overview

Mission

Promote economic growth in grand forks, north dakota and the surrounding communities through the attraction of new industries and expansion of current businesses.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$590,439$615,372▲ $24,933
Cash and Non-Interest-Bearing Accounts$372,051$232,601▼ $139,450
Savings and Temporary Cash Investments-$201,615-
Pledges and Grants Receivable-$115,462-
Accounts Receivable$42,116$69,298▲ $27,182
Land, Buildings, and Equipment, Net$44,895$36,232▼ $8,663
Prepaid Expenses and Deferred Charges$2,435$2,159▼ $276
Total Assets$1,346,753$1,541,452▲ $194,699
Other Assets Total$294,817$268,713▼ $26,104
Liabilities
Other Liabilities$300,929$274,201▼ $26,728
Deferred Revenue-$50,902-
Accounts Payable and Accrued Expenses$39,731$40,234▲ $503
Escrow Account Liability$50,679$37,717▼ $12,962
Total Liabilities$391,339$403,054▲ $11,715
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$725,964$866,948▲ $140,984
Net Assets With Donor Restrictions$229,450$271,450▲ $42,000
Total Net Assets Fund Balance$955,414$1,138,398▲ $182,984
Total Liabilities and Net Assets / Fund Balance$1,346,753$1,541,452▲ $194,699

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$15,791$178,208$193,999
Leasehold Improvements$20,441$88,398$108,839
Other Assets Org$266,239--
Other Securities$615,372--
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseOtherTotal
Keith LundPresident/CEOFT$185,000$30,511$215,511

Board Members and Trustees

NameTitle
John OnckenChair
Jonathan HolthPast Chair
Shawn GaddieVice Chair
Chris WolfDirector
Cory MellandDirector
Dana SandeDirector
David EngenDirector
Mylo EinarsonDirector
Sally MiskavigeDirector
Meghan ComptonSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,450,965
Program Service Revenue
$0
Investment Income
$21,708
Other Revenue
$66,342
All Other Contributions
$102,510
Change in Net Assets
$182,984
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$730,580
Other Expenses$625,451
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Advertising---$395,573
Other Salaries and Wages---$390,201
Current Officers, Directors, Trustees, and Key Employees---$219,627
Other Employee Benefits---$54,314
Occupancy---$47,331
Payroll Taxes---$44,916
Travel---$41,695
Fees for Services Accounting---$37,990
Pension Plan Contributions---$21,522
Depreciation Depletion---$16,243
Information Technology---$14,919
Fees for Services Other---$7,137
Office Expenses---$6,724
Insurance---$5,807
Other Expenses---$5,700
All Other Expenses---$4,575
Fees for Services Legal---$871
Interest---$46
Total Functional Expenses$0$0$0$1,356,031
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
In-house lobbying only
No
Subject to proxy tax
Yes
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Obligation$271,682
Finance Lease Obligation$2,519
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 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
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 A, Line 6

“Grand forks region economic development corporation is a not-for-profit corporation with members.”

Form 990, Part VI, Section A, Line 7A

“Members of the organization have the right to participate in board of director elections.”

Form 990, Part VI, Section B, Line 11B

“Form 990 is reviewed by the edc president and a complete copy is provided to the board of directors prior to filing.”

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

“The conflict of interest policy is monitored annually through the use of a questionnaire distributed to any directors, officers and key employees.”

Form 990, Part VI, Section B, Line 15

“The process for determining compensation includes a comparison of compensation from search firms and/or other edc offices in the state. This information is presented for discussion at an executive committee meeting of the board of directors.”

Form 990, Part VI, Section C, Line 19

“Financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Grand Forks Region Economic Development
EIN
45-0410198
Phone
7017462720
Address
120 NORTH 4TH ST, GRAND FORKS, ND 58203

Signing Officer

Name
Keith Lund
Title
President/CEO
Phone
7017462720
Signed
2025-10-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Keith Lund
Formed
1988
Legal Domicile
Nd
Voting Board Members
11
Independent Board Members
10
Employees
12
Volunteers
0

Preparer

Firm
Brady Martz & Associates Pc
Address
PO BOX 14296, GRAND FORKS, ND 58208-4296
Preparer
Nicole Heldstab
Phone
7017754685
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“No change in oversight process.”

Financial Statement Notes

PART IV, LINE 2B:

“The corporation has agreements with the university of north dakota (und) and the state to promote the hiring of und students in temporary internship positions. In addition, the corporation also participates in the north dakota new jobs training program which is an incentive program between the state, the corporation, and various employers with a grand forks presence. The corporation acts as an agent charging a management fee for both programs.”

PART X, LINE 2:

“The corporation's policy is to evaluate the likelihood that its uncertain tax positions will prevail upon examination based on the extent to which those positions have substantial support within the internal revenue code and regulations, revenue rulings, court decisions, and other evidence. It is the opinion of management that the corporation has no significant uncertain tax positions that would be subject to change upon examination. The federal income tax returns of the corporation are subject to examination by the irs, generally for three years after they are filed. All filings are current.”

Raw XML AppendixShowing 400 of 460 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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IRS990/AccountsReceivableGrp/EOYAmt069298
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0PROMOTE ECONOMIC GROWTH IN GRAND FORKS, NORTH DAKOTA AND THE SURROUNDING COMMUNITIES THROUGH THE ATTRACTION OF NEW INDUSTRIES AND EXPANSION OF CURRENT BUSINESSES.
IRS990/AdvertisingGrp/TotalAmt0395573
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IRS990/DepreciationDepletionGrp/TotalAmt016243
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IRS990/Form990PartVIISectionAGrp/TitleTxt2PAST CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY/TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt5VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
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IRS990/LandBldgEquipCostOrOtherBssAmt0302838
IRS990/LegalDomicileStateCd0ND
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembershipDuesAmt0512200
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0PROMOTE ECONOMIC GROWTH IN GRAND FORKS, NORTH DAKOTA AND THE SURROUNDING COMMUNITIES THROUGH THE ATTRACTION OF NEW INDUSTRIES AND EXPANSION OF CURRENT BUSINESSES.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt0955414
IRS990/NetAssetsOrFundBalancesEOYAmt01138398
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0725964
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0866948
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/TotalAmt047331
IRS990/OfficeExpensesGrp/TotalAmt06724
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0294817
IRS990/OtherAssetsTotalGrp/EOYAmt0268713
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt054314
IRS990/OtherExpensesGrp/Desc0INTERN PROGRAM
IRS990/OtherExpensesGrp/Desc1DUES & SUBSCRIPTION
IRS990/OtherExpensesGrp/Desc2CLIENT RELATIONS
IRS990/OtherExpensesGrp/Desc3CLIENT AND PARTNER PROJ
IRS990/OtherExpensesGrp/TotalAmt019788
IRS990/OtherExpensesGrp/TotalAmt113007
IRS990/OtherExpensesGrp/TotalAmt28045
IRS990/OtherExpensesGrp/TotalAmt35700
IRS990/OtherLiabilitiesGrp/BOYAmt0300929
IRS990/OtherLiabilitiesGrp/EOYAmt0274201
IRS990/OtherRevenueMiscGrp/BusinessCd0561000
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS INCOME
IRS990/OtherRevenueMiscGrp/ExclusionAmt04607
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt061735
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt066342
IRS990/OtherRevenueTotalAmt066342
IRS990/OtherSalariesAndWagesGrp/TotalAmt0390201
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/TotalAmt044916
IRS990/PensionPlanContributionsGrp/TotalAmt021522
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0115462
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt02435
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt02159
IRS990/PrincipalOfficerNm0KEITH LUND
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt01062122
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt05249
IRS990/PYOtherExpensesAmt0311723
IRS990/PYOtherRevenueAmt05823
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt048
IRS990/PYSalariesCompEmpBnftPaidAmt0761423
IRS990/PYTotalExpensesAmt01073146
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01073194
IRS990/ReconcilationRevenueExpnssAmt0182984
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/ReportInvestmentsOtherSecInd01
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0201615
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
IRS990ScheduleC/AgreeCarryoverPriorYearInd00
IRS990ScheduleC/DuesAssessmentsAmt0512200
IRS990ScheduleC/OnlyInHouseLobbyingInd00
IRS990ScheduleC/SubstantiallyAllDuesNondedInd00
IRS990ScheduleD/AgentTrusteeEtcInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt015791
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0178208
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0193999
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd01
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt020441
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt088398
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0108839
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt02474
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1266239
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0FINANCE LEASE RIGHT OF USE ASSETS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1OPERATING LEASE RIGHT OF USE ASSET
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt02519
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1271682
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0FINANCE LEASE OBLIGATION
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1OPERATING LEASE OBLIGATION
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt0615372
IRS990ScheduleD/OtherSecuritiesGrp/Desc0CERTIFICATES OF DEPOSITS AND MONEY MARKET- MATURITY GREATER THAN 1 YEAR
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION HAS AGREEMENTS WITH THE UNIVERSITY OF NORTH DAKOTA (UND) AND THE STATE TO PROMOTE THE HIRING OF UND STUDENTS IN TEMPORARY INTERNSHIP POSITIONS. IN ADDITION, THE CORPORATION ALSO PARTICIPATES IN THE NORTH DAKOTA NEW JOBS TRAINING PROGRAM WHICH IS AN INCENTIVE PROGRAM BETWEEN THE STATE, THE CORPORATION, AND VARIOUS EMPLOYERS WITH A GRAND FORKS PRESENCE. THE CORPORATION ACTS AS AN AGENT CHARGING A MANAGEMENT FEE FOR BOTH PROGRAMS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE CORPORATION'S POLICY IS TO EVALUATE THE LIKELIHOOD THAT ITS UNCERTAIN TAX POSITIONS WILL PREVAIL UPON EXAMINATION BASED ON THE EXTENT TO WHICH THOSE POSITIONS HAVE SUBSTANTIAL SUPPORT WITHIN THE INTERNAL REVENUE CODE AND REGULATIONS, REVENUE RULINGS, COURT DECISIONS, AND OTHER EVIDENCE. IT IS THE OPINION OF MANAGEMENT THAT THE CORPORATION HAS NO SIGNIFICANT UNCERTAIN TAX POSITIONS THAT WOULD BE SUBJECT TO CHANGE UPON EXAMINATION. THE FEDERAL INCOME TAX RETURNS OF THE CORPORATION ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY ARE FILED. ALL FILINGS ARE CURRENT.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART IV, LINE 2B:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt036232
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0268713
IRS990ScheduleD/TotalBookValueSecuritiesAmt0615372
IRS990ScheduleD/TotalLiabilityAmt0274201
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0185000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt04127
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt026384
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0KEITH LUND
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT/CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0215511
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleJ/WrittenEmploymentContractInd0X
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0GRAND FORKS REGION ECONOMIC DEVELOPMENT CORPORATION IS A NOT-FOR-PROFIT CORPORATION WITH MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS OF THE ORGANIZATION HAVE THE RIGHT TO PARTICIPATE IN BOARD OF DIRECTOR ELECTIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 IS REVIEWED BY THE EDC PRESIDENT AND A COMPLETE COPY IS PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE CONFLICT OF INTEREST POLICY IS MONITORED ANNUALLY THROUGH THE USE OF A QUESTIONNAIRE DISTRIBUTED TO ANY DIRECTORS, OFFICERS AND KEY EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE PROCESS FOR DETERMINING COMPENSATION INCLUDES A COMPARISON OF COMPENSATION FROM SEARCH FIRMS AND/OR OTHER EDC OFFICES IN THE STATE. THIS INFORMATION IS PRESENTED FOR DISCUSSION AT AN EXECUTIVE COMMITTEE MEETING OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6NO CHANGE IN OVERSIGHT PROCESS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XII, LINE 2C
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd01
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0GRAND FORKS REGION ECONOMIC DEVELOPMENT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0GRAND FORKS DEVELOPMENT FOUNDATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0456016823
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(6)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0ND
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0PROMOTE ECONOMIC GROWTH TO GRAND FORKS, ND AND SURROUNDING COMMUNITIES
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0120 NORTH 4TH ST
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0GRAND FORKS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0ND
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd058203
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0215511
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0AMOUNT PAID
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0GRAND FORKS DEVELOPMENT FOUNDATION
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0O
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd01
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01346753
IRS990/TotalAssetsEOYAmt01541452
IRS990/TotalAssetsGrp/BOYAmt01346753
IRS990/TotalAssetsGrp/EOYAmt01541452
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt01450965
IRS990/TotalEmployeeCnt012
IRS990/TotalFunctionalExpensesGrp/TotalAmt01356031

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