Hazen Community Development Corporation
- Assets
- $821.2k
- Revenue
- $157.5k
- Investments
- $11.3k
- Employees
- 0
- Location
- Hazen, ND
- Founding
- 09/1990
- Data as of
- 12/2022
- EIN
- 45-0375772
Organization Overview
Hazen Community Development Corporation is located in Hazen, ND. The organization was established in 1990. 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. Hazen Community Development Corporation is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, Hazen Community Development Corporation generated $157.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (6.5%) each year. All expenses for the organization totaled $166.8k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Hazen Community Development Corporation has awarded 12 individual grants totaling $137,699. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO FURTHER THE ECONOMIC DEVELOPMENT OF THE CITY OF HAZEN BY SUPPORTING LOCAL BUSINESSES AND PROMOTING NEW ENTERPRISE. TO BENEFIT CITIZENS OF HAZEN AND SURROUNDING AREAS BY EXPANDING AVAILABLE GOODS AND SERVICES AND INCREASING EMPLOYMENT OPPORTUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HAZEN COMMUNITY DEVELOPMENT PROVIDES A STAFF AND SUPPORT SERVICE TO FACILITATE ECONOMIC DEVELOPMENT FOR THE COMMUNITY. STAFF IS EMPLOYED BY THE CITY AND BILLED TO THE ORGANIZATION AS MANAGEMENT FEES.
HAZEN COMMUNITY DEVELOPMENT CONTINUES TO DEVELOP A COMMERCIAL BUILDING FOR SALE OR LEASE FOR NEW BUSINESSES. IT IS ALSO ACTIVELY TRYING TO RECRUIT NEW BUSINESSES TO THE COMMUNITY WHICH WILL ENHANCE A VIBRANT MAIN STREET AND SURROUNDING AREAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wayne Hoffner President | OfficerTrustee | 10 | $0 |
Robert Metter Vice President | OfficerTrustee | 5 | $0 |
Ken Miller Secretary | OfficerTrustee | 5 | $0 |
Carla Borlaug Treasurer | OfficerTrustee | 5 | $0 |
Jennifer Opp Past President | OfficerTrustee | 10 | $0 |
Chris Sailer At Large | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $12,040 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $99,754 |
| 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 | $111,794 |
| Total Program Service Revenue | $0 |
| Investment income | $1,934 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $43,820 |
| 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 | $157,548 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $79,623 |
| 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 | $60,541 |
| Fees for services: Legal | $1,375 |
| Fees for services: Accounting | $2,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $18,195 |
| Advertising and promotion | $0 |
| Office expenses | $4,908 |
| 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 | $166,842 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,561 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $11,276 |
| Investments—program-related | $808,379 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $821,216 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| 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 | $821,216 |
| Total liabilities and net assets/fund balances | $821,216 |
Grants Awarded
Over the last fiscal year, Hazen Community Development Corporation has awarded $26,249 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
HAZEN PARK BOARD PURPOSE: DONATION FOR THE LOCAL GIRLS SOFTBALL AND BOYS BASEBALL PROGRAMS. | $20,000 |
ENERGY CAPITAL COOPERATIVE CHILD CARE PURPOSE: DONATION FOR CHILDCARE SUPPLIES & FLEX PACE SUPPORT | $6,249 |