Brainerd Lakes Area Development Corporation

Organization Overview

Brainerd Lakes Area Development Corporation, operating under the name Brainerd Lakes Area Economic Development Corp, is located in Brainerd, MN. The organization was established in 1986. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Brainerd Lakes Area Economic Development Corp employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Brainerd Lakes Area Economic Development Corp is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 12/2021, Brainerd Lakes Area Economic Development Corp generated $475.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.8% each year. All expenses for the organization totaled $490.5k during the year ending 12/2021. While expenses have increased by 4.9% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

GENERAL ECONOMIC DEVELOPMENT ACTIVITIES

Describe the Organization's Program Activity:

Part 3 - Line 4a

INVOLVED IN ATTRACTING NEW INDUSTRY AND RETAINING PRESENT INDUSTRY IN THE AREA.


INVOLVED IN NEW DEVELOPMENT, RE-DEVELOPMENT OR RENEWAL


INVOLVED IN COMMUNITY AND WORKFORCE PROMOTION


ENCOURAGING AND PROMOTING THE START-UP OF NEW COMPANIES


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Board, Officers & Key Employees

Name (title)Compensation
Tyler Glynn
Executive Director
$106,472
Jim Haakonson
Secretary/treasurer
$0
Mike Larson
President
$0
Tom Haglin
Past President
$0
Mike Dillon
Vice President
$0
Janelle Riley
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$130,755
Fundraising events$0
Related organizations$0
Government grants $234,330
All other contributions, gifts, grants, and similar amounts not included above$15,106
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$380,191
Total Program Service Revenue$94,037
Investment income $2,832
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$2,089
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $474,971

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Brainerd Lakes Area Development Corporation has recieved totaling $10,000.

Awarding OrganizationAmount
Initiative Foundation

Little Falls, MN

PURPOSE: SUPPORT A PARTNERSHIP WITH LAKES AREA HUMAN RESOURCES ASSOCIATION, LAKES AREA MANUFACTURING ASSOCIATION, CENTRAL MINNESOTA MANUFACTURERS ASSOCIATION AND THE BRAINERD LAKES CHAMBER

$10,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$349,484
Earnings$2,829
Ending Balance$352,313

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