Fergus Falls Area Economic Improvement Commission Inc
- Assets
- $401.7k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Fergus Falls, MN
- Founding
- 09/1994
- Data as of
- 12/2020
- EIN
- 41-1756012
Organization Overview
Fergus Falls Area Economic Improvement Commission Inc is located in Fergus Falls, MN. The organization was established in 1994. According to its NTEE Classification (R20) the organization is classified as: Civil Rights, under the broad grouping of Civil Rights, Social Action & Advocacy and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fergus Falls Area Economic Improvement Commission Inc 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 12/2020, Fergus Falls Area Economic Improvement Commission Inc generated $33.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (23.5%) each year. All expenses for the organization totaled $30.8k during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (23.6%) per year over the past 6 years. 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
2020
Describe the Organization's Program Activity:
Part 3
BDFF ACHIEVES ITS GOALS THROUGH THE ADMINISTRATION OF SEVERAL REVOLVING LOAN FUNDS. BDFF PROVIDES THE NECESSARY LEADERSHIP, EXPERTISE AND DIRECTION TO ASSIST THE CITY IN PROVIDING OVERSIGHT AND REVIEW OF REVOLVING LOAN FUND APPLICATIONS AND MAKES RECOMMENDATIONS FOR APPROVAL OF CREDIT-WORTHY APPLICATIONS TO THE CITY COUNCIL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anthony Hicks Chair | 1 | $0 | |
Mikel Olson Director | 0.5 | $0 | |
Melissa Rogers Director | 0.5 | $0 | |
Jeff Stanislawski Director | 0.5 | $0 | |
Steve Brimhall Director | 0.5 | $0 | |
Karla Connelly Director | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,500 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $18,308 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $33,808 |
| 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 | $425 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $6,075 |
| Total expenses | $30,750 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $400,551 |
| Other assets | $0 |
| Total assets | $401,732 |
| Total liabilities | $0 |
| Net assets or fund balances | $401,732 |
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