Civic Intelligence

Two Harbors Development Fund Inc.

990 • Fiscal year 2023 • EIN 45-2892768

Jan 01, 2023 to Dec 31, 2023 • Filed on Jul 17, 2024

Organization Profilewww.twoharborsmn.gov
115 Waterfront DriveTwo Harbors, MN 55616

(218) 834-3300

Siviq Scores

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

Liabilities / Assets

32nd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

32nd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

12th percentile

-29%

Higher net margin than 12% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

54th percentile

$0

Higher top officer pay than 54% of similar nonprofits.

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

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

38th percentile

-0.5%

Faster asset growth than 38% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

86th percentile

70%

Faster revenue growth than 86% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets32nd percentile

Assets

Down

$902,442

Down $4,931 (-0.5%) from 2022

Net Assets

Down

$902,442

Down $4,931 (-0.5%) from 2022

Liabilities

Flat

$0

Flat from 2022

Revenue And Expenses
Liabilities / Revenue32nd percentileNet Margin12th percentile

Revenue

Up

$16,923

Up $6,986 (+70%) from 2022

Expenses

Up

$21,854

Up $16,391 (+300%) from 2022

Net Income

Down

-$4,931

Down $9,405 (-210%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth38th percentile

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

$1.0M$500K$0Assets 2011: $858,596Liabilities 2011: $270,098Net Assets 2011: $588,4982011Assets 2012: $870,617Liabilities 2012: $251,201Net Assets 2012: $619,4162012Assets 2013: $867,185Liabilities 2013: $230,339Net Assets 2013: $636,8462013Assets 2014: $860,006Liabilities 2014: $217,353Net Assets 2014: $642,6532014Assets 2015: $789,294Liabilities 2015: $215,448Net Assets 2015: $573,8462015Assets 2016: $798,998Liabilities 2016: $202,234Net Assets 2016: $596,7652016Assets 2017: $788,916Liabilities 2017: $193,220Net Assets 2017: $595,6962017Assets 2018: $789,602Liabilities 2018: $188,280Net Assets 2018: $601,3222018Assets 2019: $894,466Liabilities 2019: $182,772Net Assets 2019: $711,6942019Assets 2020: $895,431Liabilities 2020: $174,569Net Assets 2020: $720,8622020Assets 2021: $902,899Liabilities 2021: $146,918Net Assets 2021: $755,9812021Assets 2022: $907,373Liabilities 2022: $0Net Assets 2022: $907,3732022Assets 2023: $902,442Liabilities 2023: $0Net Assets 2023: $902,4422023Assets 2024: $926,453Liabilities 2024: $0Net Assets 2024: $926,4532024

Highlighted filing

2023

Assets$902,442
Liabilities$0
Net Assets$902,442
Open 2023 Filing

Operations Trend

Revenue Growth86th percentile

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

$300K$200K$100K$0-$100KRevenue 2011: $217,716Expenses 2011: $48,034Net Income 2011: $169,6822011Revenue 2012: $40,438Expenses 2012: $9,520Net Income 2012: $30,9182012Revenue 2013: $29,171Expenses 2013: $11,741Net Income 2013: $17,4302013Revenue 2014: $31,019Expenses 2014: $25,212Net Income 2014: $5,8072014Revenue 2015: $19,339Expenses 2015: $88,146Net Income 2015: -$68,8072015Revenue 2016: $25,159Expenses 2016: $2,241Net Income 2016: $22,9182016Revenue 2017: $23,083Expenses 2017: $24,151Net Income 2017: -$1,0682017Revenue 2018: $17,540Expenses 2018: $11,914Net Income 2018: $5,6262018Revenue 2019: $121,187Expenses 2019: $10,815Net Income 2019: $110,3722019Revenue 2020: $24,720Expenses 2020: $15,552Net Income 2020: $9,1682020Revenue 2021: $43,537Expenses 2021: $8,418Net Income 2021: $35,1192021Revenue 2022: $9,937Expenses 2022: $5,463Net Income 2022: $4,4742022Revenue 2023: $16,923Expenses 2023: $21,854Net Income 2023: -$4,9312023Revenue 2024: $32,424Expenses 2024: $8,413Net Income 2024: $24,0112024

Highlighted filing

2023

Revenue$16,923
Expenses$21,854
Net Income-$4,931
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jul 17, 2024
Return Version
2023v5.0
Gross Receipts
$16,923
Mission and Program Overview

Mission

To promote the economic development within and surrounding the city of two harbors by providing loans or other financial aid to businesses which are not able to obtain adequate financing through other means.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$907,373$902,442▼ $4,931
Other Notes and Loans Receivable, Net$810,485$533,340▼ $277,145
Cash and Non-Interest-Bearing Accounts$96,888$369,102▲ $272,214
Total Assets$907,373$902,442▼ $4,931
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$907,373$902,442▼ $4,931
Total Liabilities and Net Assets / Fund Balance$907,373$902,442▼ $4,931
Compensation and Service Providers
Top Officer Pay54th percentile

Board Members and Trustees

NameTitle
Darrin YoungPresident
Bob JohansenSecretary
Jennifer MillerTreasurer
Jon ChapekVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$16,923
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-4,931
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$21,854
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Legal$12,683--$12,683
Fees for Services Accounting$9,053--$9,053
Fees for Services Other$118--$118
Total Functional Expenses$21,854$0$0$21,854
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
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
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 7A

“Board is nominated and appointed by a majority vote of current members”

Form 990, Page 6, Part VI, Line 11B

“There is a brief review process of the 990 by the board and is signed by the president.”

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

“The two harbors development fund has a conflict of interest policy, each member signs at the beginning of the year. Members are required to notify the board if there is any conflict of interest for any of the loan applicants received. If there is a conflict of interest, the board member is not allowed to be present while discussing the applicant in conflict.”

Form 990, Page 6, Part VI, Line 19

“Governing documents, conflicts of interest policies and financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Two Harbors Development Fund Inc
EIN
45-2892768
Phone
2188343300
Address
115 WATERFRONT DRIVE, TWO HARBORS, MN 55616

Signing Officer

Name
Darrin Young
Title
President
Phone
2188345631
Signed
2024-07-17

Organization Details

Principal Officer
Darrin Young
Formed
1986
Legal Domicile
Mn
Voting Board Members
4
Independent Board Members
4
Employees
0

Preparer

Firm
Kolquist Seitz & Goldman LLC
Address
130 W SUPERIOR ST STE 926, DULUTH, MN 55802-2056
Preparer
Jennifer Miller
Phone
2187278030
Supplemental Narrative

Additional Explanations

Form 990

“The city of two harbors does not wish to continue the agreement and has passed a resolution on august 22, 2022, waiving any rights it has to enforce the agreement and allowing thdf amend its articles of incorporation and bylaws to function as a separate entity without any involvement or control by the city and it is in the best interests of the thdf and the purposes for which it was formed to separate and terminate all relationships with the city of two harbors, contractual or otherwise, and the agreement is terminated upon mutual agreement of both thdf and the city, without penalty or requiring dissolution of thdf or distribution of its funds and thdf has therefore amended its articles of incorporation and bylaws, and all relations between the two entities are hereby dissolved effective at 12:00 a.m. On august 31, 2022,with neither entity having any obligations to the other after that time.”

Raw XML Appendix254 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
IRS990/AccountantCompileOrReviewInd0false
IRS990/ActivitiesConductedPrtshpInd0false
IRS990/ActivityOrMissionDesc0TO PROMOTE THE ECONOMIC DEVELOPMENT WITHIN AND SURROUNDING THE CITY OF TWO HARBORS BY PROVIDING LOANS OR OTHER FINANCIAL AID TO BUSINESSES WHICH ARE NOT ABLE TO OBTAIN ADEQUATE FINANCING THROUGH OTHER MEANS.
IRS990/AnnualDisclosureCoveredPrsnInd0true
IRS990/BackupWthldComplianceInd0false
IRS990/BooksInCareOfDetail/PersonNm0SHELLY PETERSON
IRS990/BooksInCareOfDetail/PhoneNum02188343300
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0115 WATERFRONT DR
IRS990/BooksInCareOfDetail/USAddress/CityNm0TWO HARBORS
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0MN
IRS990/BooksInCareOfDetail/USAddress/ZIPCd055616
IRS990/BusinessRlnWith35CtrlEntInd0false
IRS990/BusinessRlnWithFamMemInd0false
IRS990/BusinessRlnWithOrgMemInd0false
IRS990/CapStkTrPrinCurrentFundsGrp/BOYAmt0907373
IRS990/CapStkTrPrinCurrentFundsGrp/EOYAmt0902442
IRS990/CashNonInterestBearingGrp/BOYAmt096888
IRS990/CashNonInterestBearingGrp/EOYAmt0369102
IRS990/ChangeToOrgDocumentsInd0false
IRS990/CollectionsOfArtInd0false
IRS990/CompensationFromOtherSrcsInd0false
IRS990/CompensationProcessCEOInd0false
IRS990/CompensationProcessOtherInd0false
IRS990/ConflictOfInterestPolicyInd0true
IRS990/ConservationEasementsInd0false
IRS990/ConsolidatedAuditFinclStmtInd0false
IRS990/CreditCounselingInd0false
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt00
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt00
IRS990/CYOtherExpensesAmt021854
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt016923
IRS990/CYRevenuesLessExpensesAmt0-4931
IRS990/CYSalariesCompEmpBnftPaidAmt00
IRS990/CYTotalExpensesAmt021854
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt016923
IRS990/DecisionsSubjectToApprovaInd0false
IRS990/DeductibleArtContributionInd0false
IRS990/DeductibleNonCashContriInd0false
IRS990/DelegationOfMgmtDutiesInd0false
IRS990/Desc0LEGAL AND PROFESSIONAL FEES AND MISCELLANEOUS EXPENSES RELATED TO COLLECTING INTEREST INCOME ON LOANS PROVIDED TO BUSINESSES IN CONJUNCTION WITH PROMOTING THE ECONOMIC DEVELOPMENT WITHIN AND SURROUNDING THE CITY OF TWO HARBORS.
IRS990/DescribedInSection501c3Ind0true
IRS990/DisregardedEntityInd0false
IRS990/DocumentRetentionPolicyInd0false
IRS990/DonorAdvisedFundInd0false
IRS990/DonorRstrOrQuasiEndowmentsInd0false
IRS990/ElectionOfBoardMembersInd0true
IRS990/EmployeeCnt00
IRS990/EngagedInExcessBenefitTransInd0false
IRS990/ExpenseAmt021854
IRS990/FamilyOrBusinessRlnInd0false
IRS990/FeesForServicesAccountingGrp/ProgramServicesAmt09053
IRS990/FeesForServicesAccountingGrp/TotalAmt09053
IRS990/FeesForServicesLegalGrp/ProgramServicesAmt012683
IRS990/FeesForServicesLegalGrp/TotalAmt012683
IRS990/FeesForServicesOtherGrp/ProgramServicesAmt0118
IRS990/FeesForServicesOtherGrp/TotalAmt0118
IRS990/ForeignActivitiesInd0false
IRS990/ForeignFinancialAccountInd0false
IRS990/ForeignOfficeInd0false
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd3X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/PersonNm0JON CHAPEK
IRS990/Form990PartVIISectionAGrp/PersonNm1BOB JOHANSEN
IRS990/Form990PartVIISectionAGrp/PersonNm2JENNIFER MILLER
IRS990/Form990PartVIISectionAGrp/PersonNm3DARRIN YOUNG
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/TitleTxt0VICE PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt1SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3PRESIDENT
IRS990/Form990ProvidedToGvrnBodyInd0false
IRS990/FormationYr01986
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedInd0false
IRS990/FundraisingActivitiesInd0false
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt04
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt016923
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0false
IRS990/IndependentVotingMemberCnt04
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InvestmentInJointVentureInd0false
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LegalDomicileStateCd0MN
IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0TO PROMOTE THE ECONOMIC DEVELOPMENT WITHIN AND SURROUNDING THE CITY OF TWO HARBORS BY PROVIDING LOANS OR OTHER FINANCIAL AID TO BUSINESSES WHICH ARE NOT ABLE TO OBTAIN ADEQUATE FINANCING THROUGH OTHER MEANS.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt0907373
IRS990/NetAssetsOrFundBalancesEOYAmt0902442
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0810485
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0533340
IRS990/PartialLiquidationInd0false
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0DARRIN YOUNG
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0INTEREST ON LENDING
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt016923
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt016923
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYOtherExpensesAmt05463
IRS990/PYProgramServiceRevenueAmt09937
IRS990/PYRevenuesLessExpensesAmt04474
IRS990/PYTotalExpensesAmt05463
IRS990/PYTotalRevenueAmt09937
IRS990/ReconcilationRevenueExpnssAmt0-4931
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt016923
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt016923
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt09937
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt026860
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/InvestmentIncomePYPct00.00000
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct01.00000
IRS990ScheduleA/PublicSupportPY509Pct01.00000
IRS990ScheduleA/PublicSupportTotal509Amt026860
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt016923
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt09937
IRS990ScheduleA/Total509Grp/TotalAmt026860
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt016923
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt09937
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt026860
IRS990/ScheduleBRequiredInd0false
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CITY OF TWO HARBORS DOES NOT WISH TO CONTINUE THE AGREEMENT AND HAS PASSED A RESOLUTION ON AUGUST 22, 2022, WAIVING ANY RIGHTS IT HAS TO ENFORCE THE AGREEMENT AND ALLOWING THDF AMEND ITS ARTICLES OF INCORPORATION AND BYLAWS TO FUNCTION AS A SEPARATE ENTITY WITHOUT ANY INVOLVEMENT OR CONTROL BY THE CITY AND IT IS IN THE BEST INTERESTS OF THE THDF AND THE PURPOSES FOR WHICH IT WAS FORMED TO SEPARATE AND TERMINATE ALL RELATIONSHIPS WITH THE CITY OF TWO HARBORS, CONTRACTUAL OR OTHERWISE, AND THE AGREEMENT IS TERMINATED UPON MUTUAL AGREEMENT OF BOTH THDF AND THE CITY, WITHOUT PENALTY OR REQUIRING DISSOLUTION OF THDF OR DISTRIBUTION OF ITS FUNDS AND THDF HAS THEREFORE AMENDED ITS ARTICLES OF INCORPORATION AND BYLAWS, AND ALL RELATIONS BETWEEN THE TWO ENTITIES ARE HEREBY DISSOLVED EFFECTIVE AT 12:00 A.M. ON AUGUST 31, 2022,WITH NEITHER ENTITY HAVING ANY OBLIGATIONS TO THE OTHER AFTER THAT TIME.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD IS NOMINATED AND APPOINTED BY A MAJORITY VOTE OF CURRENT MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THERE IS A BRIEF REVIEW PROCESS OF THE 990 BY THE BOARD AND IS SIGNED BY THE PRESIDENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE TWO HARBORS DEVELOPMENT FUND HAS A CONFLICT OF INTEREST POLICY, EACH MEMBER SIGNS AT THE BEGINNING OF THE YEAR. MEMBERS ARE REQUIRED TO NOTIFY THE BOARD IF THERE IS ANY CONFLICT OF INTEREST FOR ANY OF THE LOAN APPLICANTS RECEIVED. IF THERE IS A CONFLICT OF INTEREST, THE BOARD MEMBER IS NOT ALLOWED TO BE PRESENT WHILE DISCUSSING THE APPLICANT IN CONFLICT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICIES AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0907373
IRS990/TotalAssetsEOYAmt0902442
IRS990/TotalAssetsGrp/BOYAmt0907373
IRS990/TotalAssetsGrp/EOYAmt0902442
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt021854
IRS990/TotalFunctionalExpensesGrp/TotalAmt021854
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0907373
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0902442
IRS990/TotalProgramServiceExpensesAmt021854
IRS990/TotalProgramServiceRevenueAmt016923
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt016923
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt016923
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0907373
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0902442
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02024-08-08 14:25:15Z
ReturnHeader/BusinessOfficerGrp/PersonNm0DARRIN YOUNG
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02188345631
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-07-17
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0TWO HARBORS DEVELOPMENT FUND INC
ReturnHeader/Filer/BusinessNameControlTxt0TWOH
ReturnHeader/Filer/EIN0452892768
ReturnHeader/Filer/PhoneNum02188343300
ReturnHeader/Filer/USAddress/AddressLine1Txt0115 WATERFRONT DRIVE
ReturnHeader/Filer/USAddress/CityNm0TWO HARBORS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd055616
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0273408302
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0KOLQUIST SEITZ & GOLDMAN LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0130 W SUPERIOR ST STE 926
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0DULUTH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0558022056
ReturnHeader/PreparerPersonGrp/PhoneNum02187278030
ReturnHeader/PreparerPersonGrp/PreparationDt02024-07-17
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JENNIFER MILLER
ReturnHeader/ReturnTs02024-08-15T12:48:42-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$902,442
Liabilities
$0
Net assets
$902,442
Revenue
$16,923
Expenses
$21,854
Net income
-$4,931
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$9.26$0.00$9.26$0.32$0.08$0.24
2023Detailed filing. Detailed filing data is available for this year.$9.02$0.00$9.02$0.17$0.22$0.05
2022Detailed filing. Detailed filing data is available for this year.$9.07$0.00$9.07$0.10$0.05$0.04
2021Detailed filing. Detailed filing data is available for this year.$9.03$1.47$7.56$0.44$0.08$0.35
2020Detailed filing. Detailed filing data is available for this year.$8.95$1.75$7.21$0.25$0.16$0.09
2019Summary only. Only limited summary data is available for this year.$8.94$1.83$7.12$1.21$0.11$1.10
2018Summary only. Only limited summary data is available for this year.$7.90$1.88$6.01$0.18$0.12$0.06
2017Summary only. Only limited summary data is available for this year.$7.89$1.93$5.96$0.23$0.24$0.01
2016Summary only. Only limited summary data is available for this year.$7.99$2.02$5.97$0.25$0.02$0.23
2015Summary only. Only limited summary data is available for this year.$7.89$2.15$5.74$0.19$0.88$0.69
2014Summary only. Only limited summary data is available for this year.$8.60$2.17$6.43$0.31$0.25$0.06
2013Summary only. Only limited summary data is available for this year.$8.67$2.30$6.37$0.29$0.12$0.17
2012Summary only. Only limited summary data is available for this year.$8.71$2.51$6.19$0.40$0.10$0.31
2011Summary only. Only limited summary data is available for this year.$8.59$2.70$5.88$2.18$0.48$1.70