Bottineau Economic Development Corporation
- Assets
- $2.1m
- Revenue
- $244.0k
- Investments
- $0.0
- Employees
- 2
- Location
- Bottineau, ND
- Founding
- 02/1989
- Data as of
- 12/2021
- EIN
- 45-0408451
Organization Overview
Bottineau Economic Development Corporation is located in Bottineau, 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 12/2021, Bottineau Economic Development Corporation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bottineau Economic 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 12/2021, Bottineau Economic Development Corporation generated $244.0k 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 (7.7%) each year. All expenses for the organization totaled $174.6k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE GROWTH AND PROSPERITY FOR ALL LIVING AND WORKING IN BOTTINEAU COUNTY BY WORKING WITH LOCAL AND STATE PARTNERS TO ATTRACT AND RETAIN JOBS, CULTIVATE CAPITAL INVESTMENT, SUPPORT EDUCATIONAL INSTITUTIONS AND FOSTER WORKFORCE DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GROWING BUSINESSES-SUPPORT BUSINESS INCUBATION AND PROVIDE BASIC SHARED AND INDIVIDUAL SERVICES THAT BUSINESSES NEET TO START, EXPAND AND CREATE QUALITY JOBS. THE EDC USES BOTTINEAU COUNTY LOAN POOL (AND, TO A LESSER EXTENT, THE B-500 FUND) TO SUPPORT BUSINESSES IN THE FORM OF LOANS AND GRANTS, AS WELL AS FUNDING FEASIBILITY STUDIES AND SEMINARS.
BOTTINEAU COMMUNITY CHILDCARE CENTER-IN PARTNERSHIP WITH BUILDING BLOCKS LEARNING CENTER, THE EDC HELPS INSURE EARLY CHILDCARE AND PRESCHOOL LEARNING EXPERIENCES FOR CHILDREN 0-5. THE EDC PROVIDES THE FACILITY,FURNISHINGS,FIXTURES AND EQUIPMENT. BUILDING BLOCKS LEARNING CENTER LEASES AND OPERATES THE CHILDCARE CENTER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Julie Mears President | OfficerTrustee | 1 | $0 |
Jon Beyer Vice President | OfficerTrustee | 1 | $0 |
Mike Foster Director | Trustee | 1 | $0 |
Jerome Migler Director | Trustee | 1 | $0 |
Greg Bernstein Director | Trustee | 1 | $0 |
Alfred Sams Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $5,030 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $225,493 |
| 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 | $230,523 |
| Total Program Service Revenue | $0 |
| Investment income | $7,493 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $6,000 |
| 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 | $244,016 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,727 |
| 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 | $89,916 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $5,505 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $207 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $26,979 |
| Travel | $6,691 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $34,902 |
| Insurance | $3,818 |
| All other expenses | $0 |
| Total functional expenses | $174,595 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $279,377 |
| Savings and temporary cash investments | $587,121 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $342,915 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $882,959 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $24,762 |
| Total assets | $2,117,134 |
| Accounts payable and accrued expenses | $2,192 |
| 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 | $5,684 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $7,876 |
| Net assets without donor restrictions | $2,109,258 |
| Net assets with donor restrictions | $0 |
| 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 | $2,117,134 |
Grants Awarded
Over the last fiscal year, Bottineau Economic Development Corporation has awarded $19,464 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Bottineau, ND PURPOSE: Marketing Funds | $12,500 |
WESTHOPE JDA PURPOSE: Assistance to keep grocery store | $6,964 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Southern Minnesota Initiative Foundation Owatonna, MN | $74,043,196 | $20,001,758 |
Metropolitan Economic Development Association Minneapolis, MN | $45,113,584 | $12,064,856 |
Great Plains Institute For Sustainable Development Minneapolis, MN | $9,896,004 | $8,891,636 |
Minneapolis - St Paul Regional Economic Development Partnership Saint Paul, MN | $5,371,081 | $6,502,146 |
Center For Economic Inclusion Saint Paul, MN | $9,315,769 | $9,776,985 |
Nextstage Bloomington, MN | $2,654,997 | $4,431,008 |
Grow South Dakota Sisseton, SD | $70,205,734 | $6,159,440 |
Wolf Run Village Inc Watford City, ND | $13,751,715 | $5,775,669 |
Minnesota Business Finance Corporation St Cloud, MN | $6,710,385 | $3,673,437 |
Glacier Country Regional Tourism Commission Inc Missoula, MT | $1,843,193 | $3,815,172 |
South Segment Community Development Corporation Halliday, ND | $18,333,660 | $2,595,332 |
Fargo Moorhead Convention & Visitors Bureau Inc Fargo, ND | $3,704,311 | $2,547,498 |