Munich Area Development Corporation
- Assets
- $1.0m
- Revenue
- $224.0k
- Investments
- $0.0
- Employees
- 1
- Location
- Munich, ND
- Founding
- 10/1985
- Data as of
- 12/2023
- EIN
- 36-3364172
Organization Overview
Munich Area Development Corporation is located in Munich, ND. The organization was established in 1985. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Munich Area Development Corporation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2023, Munich Area Development Corporation generated $224.0k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 21.2% each year . All expenses for the organization totaled $193.9k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Munich Area Development Corporation has awarded 24 individual grants totaling $378,063. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ENTITY OPERATES A LOW-INCOME APARTMENT COMPLEX AND OPERATES VIDEO GAMING MACHINES WITH THE PROCEEDS USED FOR VARIOUS CIVIC NEEDS IN MUNICH ND AND NEIGHBORING COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ORGANIZATION PROVIDES LOW-INCOME HOUSING AND PROVIDES GRANTS TO VARIOUS LOCAL CIVIC ORGANIZATIONS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Zimmer President | Officer | 1 | $0 |
Brian Hoffman Vice President | Officer | 1 | $0 |
Roger Wirth Treasurer | Officer | 1 | $0 |
Matt Mitzel Director | Trustee | 1 | $0 |
Bobby Foster Director | Trustee | 1 | $0 |
Debi Zavalney Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $3,662 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$12,857 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $233,178 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $223,983 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $189,170 |
| 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 | $4,216 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $489 |
| Fees for services: Management | $0 |
| 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 | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $193,875 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $787,239 |
| Savings and temporary cash investments | $68,135 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $150,700 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,006,074 |
| Accounts payable and accrued expenses | $0 |
| 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 | $232,914 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $232,914 |
| Net assets without donor restrictions | $0 |
| 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 | $773,160 |
| Total liabilities and net assets/fund balances | $1,006,074 |
Grants Awarded
Over the last fiscal year, Munich Area Development Corporation has awarded $148,529 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
ROCK LAKE FIRE DEPT PURPOSE: IMPROVEMENTS | $8,117 |
ST JOHN FIRE DEPT PURPOSE: IMPROVEMENTS | $20,000 |
MUNICH COMMUNITY IMPROVEMENT PURPOSE: FOOD PANTRY | $14,400 |
BYRON DORGAN YOUTH CENTER PURPOSE: IMPROVEMENTS | $16,000 |
ROLETTE COUNTY HISTORICAL SOCIETY PURPOSE: IMPROVEMENTS | $7,000 |
CITY OF MUNICH PURPOSE: IMPROVEMENTS | $75,512 |