Civic Intelligence

Grand Forks Development Foundation

990 • Fiscal year 2024 • EIN 45-6016823

Jan 01, 2024 to Dec 31, 2024 • Filed on Oct 17, 2025

Organization ProfileN/A
120 N 4th StreetGrand Forks, ND 58203

(701) 746-2720

Siviq Scores

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

Liabilities / Assets

44th percentile

0.00x

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

2024 filings • 501(c)6 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

44th percentile

0.00x

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

2024 filings • 501(c)6 • <$500k nonprofits • Source year 2024

Net Margin

99th percentile

85%

Higher net margin than 99% of similar nonprofits.

2024 filings • 501(c)6 • <$500k nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2024

Asset Growth

50th percentile

1.4%

Faster asset growth than 50% of similar nonprofits.

2024 filings • 501(c)6 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

4th percentile

-51%

Faster revenue growth than 4% of similar nonprofits.

2024 filings • 501(c)6 • <$500k nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets44th percentile

Assets

Up

$300,218

Up $4,039 (+1.4%) from 2023

Net Assets

Up

$300,218

Up $4,039 (+1.4%) from 2023

Liabilities

Flat

$0

Flat from 2023

Revenue And Expenses
Liabilities / Revenue44th percentileNet Margin99th percentile

Revenue

Down

$4,759

Down $4,978 (-51%) from 2023

Expenses

Down

$720

Down $600 (-45%) from 2023

Net Income

Down

$4,039

Down $4,378 (-52%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth50th percentile

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

$800K$600K$400K$200K$0Assets 2010: $265,352Liabilities 2010: $9,170Net Assets 2010: $256,1822010Assets 2011: $258,322Liabilities 2011: $8,503Net Assets 2011: $249,8192011Assets 2012: $329,485Liabilities 2012: $20,000Net Assets 2012: $309,4852012Assets 2013: $309,994Liabilities 2013: $0Net Assets 2013: $309,9942013Assets 2014: $310,467Liabilities 2014: $0Net Assets 2014: $310,4672014Assets 2015: $311,052Liabilities 2015: $0Net Assets 2015: $311,0522015Assets 2016: $592,601Liabilities 2016: $0Net Assets 2016: $592,6012016Assets 2017: $592,827Liabilities 2017: $0Net Assets 2017: $592,8272017Assets 2018: $592,272Liabilities 2018: $0Net Assets 2018: $592,2722018Assets 2019: $596,467Liabilities 2019: $0Net Assets 2019: $596,4672019Assets 2020: $599,963Liabilities 2020: $0Net Assets 2020: $599,9632020Assets 2021: $603,693Liabilities 2021: $250,000Net Assets 2021: $353,6932021Assets 2022: $287,762Liabilities 2022: $0Net Assets 2022: $287,7622022Assets 2023: $296,179Liabilities 2023: $0Net Assets 2023: $296,1792023Assets 2024: $300,218Liabilities 2024: $0Net Assets 2024: $300,2182024

Highlighted filing

2024

Assets$300,218
Liabilities$0
Net Assets$300,218
Open 2024 Filing

Operations Trend

Revenue Growth4th percentile

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

$400K$200K$0-$200K-$400KRevenue 2010: $838Expenses 2010: $2,449Net Income 2010: -$1,6112010Revenue 2011: $1,431Expenses 2011: $7,794Net Income 2011: -$6,3632011Revenue 2012: $65,266Expenses 2012: $5,600Net Income 2012: $59,6662012Revenue 2013: $1,109Expenses 2013: $600Net Income 2013: $5092013Revenue 2014: $948Expenses 2014: $475Net Income 2014: $4732014Revenue 2015: $585Expenses 2015: $0Net Income 2015: $5852015Revenue 2016: $281,549Expenses 2016: $0Net Income 2016: $281,5492016Revenue 2017: $236Expenses 2017: $10Net Income 2017: $2262017Revenue 2018: $290Expenses 2018: $845Net Income 2018: -$5552018Revenue 2019: $5,054Expenses 2019: $859Net Income 2019: $4,1952019Revenue 2020: $4,986Expenses 2020: $1,490Net Income 2020: $3,4962020Revenue 2021: $5,210Expenses 2021: $251,480Net Income 2021: -$246,2702021Revenue 2022: $16Expenses 2022: $65,947Net Income 2022: -$65,9312022Revenue 2023: $9,737Expenses 2023: $1,320Net Income 2023: $8,4172023Revenue 2024: $4,759Expenses 2024: $720Net Income 2024: $4,0392024

Highlighted filing

2024

Revenue$4,759
Expenses$720
Net Income$4,039
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 17, 2025
Return Version
2024v5.2
Gross Receipts
$5,790
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
Land, Buildings, and Equipment, Net$280,964$280,964→ $0
Savings and Temporary Cash Investments$15,215$19,254▲ $4,039
Total Assets$296,179$300,218▲ $4,039
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$296,179$300,218▲ $4,039
Total Net Assets Fund Balance$296,179$300,218▲ $4,039
Total Liabilities and Net Assets / Fund Balance$296,179$300,218▲ $4,039

Asset Categories

AssetBook ValueDepreciationBasis
Land$280,964--
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
John OnckenChair
Shawn GaddieVice Chair
Keith LundSec/treas
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$4,759
Change in Net Assets
$4,039
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$720
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 Accounting---$685
Other Expenses---$35
Total Functional Expenses$0$0$0$720
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
Audit committee
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

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

“Members of the governing body are appointed annually by the board of directors of the grand forks region economic development corporation, 100% owner of the grand forks development foundation.”

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

“Decisions of the foundation are subject to approval by the board of directors of the grand forks region economic development corporation.”

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

“Form 990 is reviewed for accuracy individually by the board of directors and the operations manager and approved 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 C, Line 18

“The organization's form 990 public inspection copy is available upon request and at www.guidestar.org.”

Form 990, Part VI, Section C, Line 19

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Grand Forks Development Foundation
EIN
45-6016823
Phone
7017462720
Address
120 N 4TH STREET, GRAND FORKS, ND 58203

Signing Officer

Name
Keith Lund
Title
Pres/sec/treas
Phone
7017462720
Signed
2025-10-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Keith Lund
Formed
1967
Legal Domicile
Nd
Voting Board Members
3
Independent Board Members
2
Employees
0
Volunteers
0

Preparer

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

Financial Statement Notes

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 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 Appendix314 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/GrossReceiptsAmt05790
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE 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 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.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MEMBERS OF THE GOVERNING BODY ARE APPOINTED ANNUALLY BY THE BOARD OF DIRECTORS OF THE GRAND FORKS REGION ECONOMIC DEVELOPMENT CORPORATION, 100% OWNER OF THE GRAND FORKS DEVELOPMENT FOUNDATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DECISIONS OF THE FOUNDATION ARE SUBJECT TO APPROVAL BY THE BOARD OF DIRECTORS OF THE GRAND FORKS REGION ECONOMIC DEVELOPMENT CORPORATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 IS REVIEWED FOR ACCURACY INDIVIDUALLY BY THE BOARD OF DIRECTORS AND THE OPERATIONS MANAGER AND APPROVED 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 ORGANIZATION'S FORM 990 PUBLIC INSPECTION COPY IS AVAILABLE UPON REQUEST AND AT WWW.GUIDESTAR.ORG.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5NO DOCUMENTS AVAILABLE TO THE PUBLIC.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
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IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0296179
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0300218
IRS990/TotalOtherCompensationAmt030511
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt04759
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt04759
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0296179
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0300218
IRS990/TotReportableCompRltdOrgAmt0185000
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0120 N 4TH STREET
IRS990/USAddress/CityNm0GRAND FORKS
IRS990/USAddress/StateAbbreviationCd0ND
IRS990/USAddress/ZIPCd058203
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0KEITH LUND
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRES/SEC/TREAS
ReturnHeader/BusinessOfficerGrp/PhoneNum07017462720
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-10-17
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0GRAND FORKS DEVELOPMENT FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0GRAN
ReturnHeader/Filer/EIN0456016823
ReturnHeader/Filer/PhoneNum07017462720
ReturnHeader/Filer/USAddress/AddressLine1Txt0120 N 4TH STREET
ReturnHeader/Filer/USAddress/CityNm0GRAND FORKS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0ND
ReturnHeader/Filer/USAddress/ZIPCd058203
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0450310328
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BRADY MARTZ & ASSOCIATES PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 14296
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GRAND FORKS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0ND
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0582084296
ReturnHeader/PreparerPersonGrp/PhoneNum07017754685
ReturnHeader/PreparerPersonGrp/PreparationDt02025-10-17
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0NICOLE HELDSTAB
ReturnHeader/ReturnTs02025-10-24T09:26:41-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$300,218
Liabilities
$0
Net assets
$300,218
Revenue
$4,759
Expenses
$720
Net income
$4,039
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.00$0.00$3.00$0.05$0.01$0.04
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.96$0.00$2.96$0.10$0.01$0.08
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.88$0.00$2.88$0.00$0.66$0.66
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.04$2.50$3.54$0.05$2.51$2.46
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.00$0.00$6.00$0.05$0.01$0.03
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.96$0.00$5.96$0.05$0.01$0.04
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.92$0.00$5.92$0.00$0.01$0.01
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.93$0.00$5.93$0.00$0.00$0.00
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.93$0.00$5.93$2.82$0.00$2.82
2015Detailed filing. Detailed filing data is available for this year.$3.11$0.00$3.11$0.01$0.00$0.01
2014Detailed filing. Detailed filing data is available for this year.$3.10$0.00$3.10$0.01$0.00$0.00
2013Detailed filing. Detailed filing data is available for this year.$3.10$0.00$3.10$0.01$0.01$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.29$0.20$3.09$0.65$0.06$0.60
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.58$0.09$2.50$0.01$0.08$0.06
2010XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.65$0.09$2.56$0.01$0.02$0.02
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2024 filings • 501(c)6 • <$500k nonprofits