Meeker County Development Corporation
- Assets
- $670.2k
- Revenue
- $11.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Litchfield, MN
- Founding
- 08/1995
- Data as of
- 12/2022
- EIN
- 41-1777694
Organization Overview
Meeker County Development Corporation is located in Litchfield, 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. Meeker County Development Corporation 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 12/2022, Meeker County Development Corporation generated $11.9k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.9%) each year. All expenses for the organization totaled $16.8k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
ECONOMIC DEVELOPMENT IN MEEKER COUNTY
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTE MEEKER COUNTY AS A PLACE TO LOCATE A NEW BUSINESS AND ASSIST EXISTING BUSINESSES IN OBTAINING FINANCING TO EXPAND.
ADMINISTER INTERMEDIARY RELENDING PROGRAM FOR MEEKER COUNTY MAINTAINING A TOTAL OF 5 LOANS AT 12/31/22.
ASSIST MEEKER COUNTY WITH ITS TOURISM PROGRAM AND EXPAND AWARENESS OF CITIZENS AS AN AGRICULTURAL CENTERED BUSINESS COUNTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brent Bengtson Treasurer | OfficerTrustee | $0 | |
Terri Boese Director | Trustee | $0 | |
Kim Dolan Director | Trustee | $0 | |
Eric Holt Vice Preside | OfficerTrustee | $0 | |
Joe Kuechle Director | Trustee | $0 | |
Chuck Lietzau Director | Trustee | $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 | $5,511 |
| Investment income | $901 |
| 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 | $11,912 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,285 |
| 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 | $84 |
| 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 | $954 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,330 |
| All other expenses | $118 |
| Total functional expenses | $16,771 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $100 |
| Savings and temporary cash investments | $590,259 |
| 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 | $79,060 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $493 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $311 |
| Total assets | $670,223 |
| Accounts payable and accrued expenses | $496 |
| 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 | $71,638 |
| Other liabilities | $0 |
| Total liabilities | $72,134 |
| Net assets without donor restrictions | $520,748 |
| Net assets with donor restrictions | $77,341 |
| 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 | $670,223 |