Herman Development Corporation
- Assets
- $47.5k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Herman, MN
- Founding
- 05/1995
- Data as of
- 12/2023
- EIN
- 41-1471126
Organization Overview
Herman Development Corporation is located in Herman, MN. The organization was established in 1995. 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. Herman 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, Herman Development Corporation generated $376.0 in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (54.8%) each year. All expenses for the organization totaled $2.9k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
THE HERMAN DEVELOPMENT CORPORATION ORGANIZES VARIOUS PROJECTS AND ACTIVITIES FOR THE CITY OF HERMAN AND THE SURROUNDING COMMUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ardy Horning Vice Preside | 0.25 | $0 | |
Daniel Ellison Treasurer | 0.25 | $0 | |
Dave Horning President | 0.25 | $0 | |
Joe Blume Director | 0.25 | $0 | |
Cindy Dahlen Secretary | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $300 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $76 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $376 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $290 |
| Occupancy, rent, utilities, and maintenance | $404 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $845 |
| Total expenses | $2,853 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $47,523 |
| Other assets | $0 |
| Total assets | $47,523 |
| Total liabilities | $0 |
| Net assets or fund balances | $47,523 |