Lake Agassiz Regional Development Corporation

Organization Overview

Lake Agassiz Regional Development Corporation is located in Fargo, ND. The organization was established in 1989. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2019, Lake Agassiz Regional Development Corporation employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.

For the year ending 12/2019, Lake Agassiz Regional Development Corporation generated $936.8k in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $820.9k during the year ending 12/2019. As we would expect to see with falling revenues, expenses have declined by (1.4%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2019

Describe the Organization's Mission:

Part 3 - Line 1

PROVIDES COMMUNITY PLANNING AND ECONOMIC DEVELOPMENT ASSISTANCE TO A SIX-COUNTY REGION OF SOUTHEASTERN NORTH DAKOTA.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDES COMMUNITY PLANNING AND ECONOMIC DEVELOPMENT ASSISTANCE AND OPERATION OF REGIONAL SMALL BUSINESS CENTER.


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Board, Officers & Key Employees

Name (title)Compensation
Donald Litch
Financial Officer
$77,133
Amber Metz
Executive Director
$31,809
Robert Wurl
Secretary
$0
Larry Jacobsen
Vice President
$0
Rick Mairs
President
$0
Lisa Rotvold
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $178,207
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$178,207
Total Program Service Revenue$592,580
Investment income $157,225
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $8,750
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $936,762

Grants Awarded

Over the last fiscal year, Lake Agassiz Regional Development Corporation has awarded $23,400 in support to 3 organizations.

Grant RecipientAmount

BOOTH LLC

PURPOSE: TO AIDE IN THE GROWTH OF THE TECH-BASED BUSINESS

$9,700

KYCKER LLC

PURPOSE: TO AIDE IN THE GROWTH OF THE TECH-BASED BUSINESS

$6,850

ADVANCED BUSINESS SOLUTIONS

PURPOSE: TO AIDE IN THE GROWTH OF THE TECH-BASED BUSINESS

$6,850
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Lake Agassiz Regional Development Corporation has recieved totaling $30,000.

Awarding OrganizationAmount
Otto Bremer Trust

St Paul, MN

PURPOSE: TO FACILITATE SMALL BUSINESS LENDING IN NORTH DAKOTA AND CLAY COUNTY, MINNESOTA.

$30,000
View Grant Recipient Profile

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