Valley City-Barnes County Development Corporation
- Assets
- $6.6m
- Revenue
- $677.5k
- Investments
- $0.0
- Employees
- 3
- Location
- Valley City, ND
- Founding
- 01/1987
- Data as of
- 09/2022
- EIN
- 36-3485273
Organization Overview
Valley City-Barnes County Development Corporation is located in Valley City, ND. The organization was established in 1987. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2022, Valley City-Barnes County Development Corporation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Valley City-Barnes County Development Corporation is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 09/2022, Valley City-Barnes County Development Corporation generated $677.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.3%) each year. All expenses for the organization totaled $868.6k during the year ending 09/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Valley City-Barnes County Development Corporation has awarded 78 individual grants totaling $2,059,703. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE ECONOMIC DEVELOPMENT TO THE CITY OF VALLEY CITY AND SURROUNDING BARNES COUNTY AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO SUPPORT A CAREER WORK EXPERIENCE PROGRAM, AND A CAREER & TECHNICAL EDUCATION PROGRAM THROUGH A GRANT TO THE SHEYENNE VALLEY AREA CAREER AND TECHNOLOGY CENTER
SUPPORT FOR VARIOUS PROGRAMS AT VALLEY CITY STATE UNVERSITY
SUPPORT FOR A WELLNESS CENTER THROUGH THE VALLEY CITY PARKS AND RECREATION DEPARTMENT
SUPPORT OF VARIOUS PROGRAMS FOR THE ECONOMIC BENEFIT OF THE CITY OF VALLEY CITY AND THE SURROUNDING AREA OF BARNES COUNTY IN NORTH DAKOTA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Lee Nielson President | OfficerTrustee | 10 | $0 |
Matt Pedersen President-Elect | OfficerTrustee | 5 | $0 |
Bobby Koepplin Director | Trustee | 2 | $0 |
Dick Gulmon Director | Trustee | 2 | $0 |
Mike Bishop Director | Trustee | 2 | $0 |
Mary Simonson Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $54,110 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $583,596 |
| All other contributions, gifts, grants, and similar amounts not included above | $25,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $662,706 |
| Total Program Service Revenue | $61,654 |
| Investment income | $25,181 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$73,735 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $677,456 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $452,740 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $5,460 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $431 |
| Office expenses | $6,669 |
| Information technology | $408 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $603 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $40 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $929 |
| All other expenses | $624 |
| Total functional expenses | $868,643 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $318,688 |
| Savings and temporary cash investments | $49,836 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $21,128 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,469,432 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $9,706 |
| Net Land, buildings, and equipment | $1,832,548 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $2,710,573 |
| Intangible assets | $0 |
| Other assets | $233,020 |
| Total assets | $6,644,931 |
| Accounts payable and accrued expenses | $78,303 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,350,402 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,428,705 |
| Net assets without donor restrictions | $1,484,301 |
| Net assets with donor restrictions | $3,731,925 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $6,644,931 |
Grants Awarded
Over the last fiscal year, Valley City-Barnes County Development Corporation has awarded $447,740 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
SHEYENNE VALLEY AREA CAREER AND TECHNOLOGY CENTER PURPOSE: Assistance for the purchase of equipment | $141,700 |
Valley City, ND PURPOSE: Salesforce and EKG Instructor - Bush | $100,000 |
Valley City, ND PURPOSE: Assistance in Wellness Center project | $50,000 |
MALACH USA LLP PURPOSE: Assistance for Hillslide Repair | $30,000 |
BARNES COUNTY PARK DISTRICT PURPOSE: Sheyenne River Water Trail project | $29,000 |
SOUTH CENTRAL DAKOTA REGIONAL COUNCIL PURPOSE: Assistance through membership | $22,040 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Valley City-Barnes County Development Corporation has recieved totaling $38,800.
| Awarding Organization | Amount |
|---|---|
Sheyenne Valley Community Foundation Valley City, ND PURPOSE: Provide funds to VCBCDC to carry out their mission | $19,400 |
Sheyenne Valley Community Foundation Valley City, ND PURPOSE: Provide funds to VCBCDC to carry out their mission | $19,400 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Spire Credit Union Falcon Heights, MN | $1,948,614,361 | $81,305,193 |
Serveminnesota Minneapolis, MN | $9,195,680 | $42,573,491 |
Arrowhead Economic Opportunity Agency Incorporated Virginia, MN | $33,957,216 | $39,136,123 |
Minnesota Valley Action Council Inc Mankato, MN | $12,018,161 | $29,353,976 |
Tri-Valley Opportunity Council Inc Crookston, MN | $15,068,505 | $26,983,244 |
United Community Action Partnership Inc Marshall, MN | $18,347,423 | $25,415,099 |
Mahube-Otwa Community Action Partnership Inc Detroit Lakes, MN | $6,691,451 | $20,228,935 |
Three Rivers Community Action Inc Zumbrota, MN | $34,597,275 | $14,786,149 |
West Central Minnesota Communities Action Inc Elbow Lake, MN | $6,410,822 | $11,174,117 |
Montana Community Development Corporation Missoula, MT | $128,107,962 | $17,427,104 |
Beacon Interfaith Housing Collaborative Saint Paul, MN | $38,850,974 | $10,667,246 |
Lakes And Pines Community Action Council Inc Mora, MN | $3,434,723 | $9,795,071 |