Heartland Lakes Development Commission
- Assets
- $422.6k
- Revenue
- $742.5k
- Investments
- $0.0
- Employees
- 2
- Location
- Park Rapids, MN
- Founding
- 05/2007
- Data as of
- 12/2021
- EIN
- 20-4208381
Organization Overview
Heartland Lakes Development Commission is located in Park Rapids, MN. The organization was established in 2007. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Heartland Lakes Development Commission employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Heartland Lakes Development Commission 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, Heartland Lakes Development Commission generated $742.5k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 31.3% each year . All expenses for the organization totaled $568.4k during the year ending 12/2021. While expenses have increased by 26.0% per year over the past 6 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
COUNTYWIDE ECONOMIC DEVELOPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPED 56 UNITS OF WORKFORCE HOUSING USING $1.2 MILLION IN STATE GRANT FUNDING TO MAKE THE RENTS AFFORDABLE. PURCHASED A 20-ACRE PARCEL TO CREATE A SUBDIVISION FOR ADDITIONAL HOUSING OPPORTUNITIES. ASSISTED IN THE DISTRIBUTION OF OVER $1.8 MILLION IN FEDERAL FUNDING AND $417,000 IN STATE RESOURCES TO OVER 100 ORGANIZATIONS IMPACTED BY THE PANDEMIC. ASSISTED THE CITY OF PARK RAPIDS CREATE A LOAN FUND TO TARGET BUSINESSES SIGNIFICANTLY IMPACTED BY THE PANDEMIC. BEGAN ADMINISTRATION OF THE PARK RAPIDS RLF TO PROVIDE MORE VISIBILITY AND UTILIZATION OF THE RESOURCE. TWO NEW BUSINESSES HAVE RECEIVED FUNDING UNDER THE PROGRAM. BEGAN MANAGEMENT OF HUBBARD COUNTY HRA TO PROVIDE BETTER COORDINATION OF ECONOMIC DEVELOPMENT AND HOUSING NEEDS IN THE COUNTY. RECEIVED $75,000 IN FEDERAL FUNDING TO SUPPORT THE DEVELOPMENT OF THE HANGAR A COWORKING AND ENTREPRENEUR DEVELOPMENT SPACE IN PARK RAPIDS. RENOVATED A VACANT CITY OWNED BUILDING TO HOUSE HLDC OFFICES AND THE HANGAR TO PROVIDE EASIER ACCESS FOR BUSINESSES AND BETTER VISIBILITY. ASSISTED BEMIDJI STEEL ACCESS DEED FUNDING TO ALLOW THEM TO RELOCATE TO NORTHERN HUBBARD COUNTY TO A NEW 35,000 SQ FT FACILITY, ADDING $3 MILLION TO THE TAX BASE AND OVER 6 JOBS. RECEIVED FUNDING IN BOTH ROUND ONE AND TWO TO PROVIDE GRANTS TO BUSINESSES IN HUBBARD COUNTY TO RENOVATE EXISTING BUILDINGS, A TOTAL OF $450,000 IS AVAILABLE. TO DATE EIGHT BUSINESSES HAVE BEEN AWARDED FUNDING. RECEIVED $46,600 TO PROVIDE SCHOLARSHIPS TO EDUCATION AND TRAINING AND STARTUP GRANT FUNDING TO INDIVIDUALS INTERESTED IN PURSUING A CAREER IN CHILDCARE AND/OR STARTING A CHILDCARE BUSINESS. PROVIDED TECHNICAL ASSISTANCE TO OVER 90 INDIVIDUALS/ BUSINESSES TO DATE (2022) ON BUSINESS STARTUP, BUSINESS PLANNING, ACCESS TO CAPITAL, SITE LOCATION, TRAINING, AND WORKFORCE DEVELOPMENT. CO SPONSORED A CAREER EXPO SEEING 50 BUSINESSES PARTICIPATE WITH 450 ATTENDEES. CREATED A PARTNERSHIP WITH RURAL MN CEP TO PROVIDE OFFICE SPACE TO DEVELOP BETTER UTILIZATION OF CEP WORKERS TO FILL WORKFORCE SHORTAGES IN HUBBARD COUNTY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Thompson Executive Director | Officer | 30 | $67,500 |
Tom Conway Chair | Officer | 1 | $0 |
Charlene Christensen Vice Chair | Officer | 1 | $0 |
Ryan Leckner Secretarytreasurer | Officer | 1 | $0 |
Eric Wolff Director | Trustee | 0 | $0 |
Angelica Weasner Ex Officio Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $544,184 |
| All other contributions, gifts, grants, and similar amounts not included above | $161,095 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $705,279 |
| Total Program Service Revenue | $36,943 |
| Investment income | $45 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $742,491 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $417,934 |
| 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. | $67,500 |
| Compensation of current officers, directors, key employees. | $67,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $21,965 |
| Pension plan accruals and contributions | $4,680 |
| Other employee benefits | $16,033 |
| Payroll taxes | $6,959 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,213 |
| Fees for services: Accounting | $9,328 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,069 |
| Advertising and promotion | $1,441 |
| Office expenses | $3,078 |
| Information technology | $506 |
| Royalties | $0 |
| Occupancy | $2,133 |
| Travel | $464 |
| 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 | $914 |
| Insurance | $1,752 |
| All other expenses | $1,475 |
| Total functional expenses | $568,364 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $223,292 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $62,500 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,011 |
| Net Land, buildings, and equipment | $121,997 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,834 |
| Total assets | $422,634 |
| Accounts payable and accrued expenses | $22,839 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $18,600 |
| Other liabilities | $12,377 |
| Total liabilities | $53,816 |
| Net assets without donor restrictions | $368,818 |
| 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 | $422,634 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Heartland Lakes Development Commission has recieved totaling $184,695.
| Awarding Organization | Amount |
|---|---|
The Northwest Minnesota Foundation Bemidji, MN PURPOSE: CHILD CARE & ECONOMIC DEVELOPMENT | $164,695 |
Sanford Sioux Falls, SD PURPOSE: ECONOMIC DEVELOPMENT | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Statewide Energy Efficiency Andrenewables Administration Inc Madison, WI | $63,794,129 | $99,926,553 |
Iowa Soybean Association Ankeny, IA | $41,040,308 | $49,594,198 |
North Central States Regional Council Of Carpenters St Paul, MN | $80,577,529 | $40,138,567 |
Association Of Equipment Manufacturers Milwaukee, WI | $65,690,987 | $35,929,615 |
International Foundation Of Employee Benefit Plans Inc Brookfield, WI | $45,052,685 | $24,056,813 |
Dane Buy Local Foundation Inc Madison, WI | $199,958 | $19,130,759 |
Society Of Corporate Compliance And Ethics & Health Care Compliance Eden Prairie, MN | $30,768,192 | $19,415,043 |
Asqexcellence Inc Milwaukee, WI | $6,648,120 | $11,915,494 |
Saint Paul Rivercentre Convention And Visitors Authority St Paul, MN | $10,775,339 | $12,198,491 |
National Association Of Tax Professionals Inc Appleton, WI | $15,322,195 | $11,606,289 |
Minnesota Hospital Association St Paul, MN | $27,636,744 | $11,552,322 |
International Dairy-Deli-Bakery Association Madison, WI | $22,953,024 | $8,197,084 |