Grand Forks Region Economic Development Corporation

Organization Overview

Grand Forks Region Economic Development Corporation is located in Grand Forks, ND. The organization was established in 1991. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Grand Forks Region Economic Development Corporation employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grand Forks Region Economic 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 12/2021, Grand Forks Region Economic Development Corporation generated $963.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $1.2m during the year ending 12/2021. While expenses have increased by 6.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

PROMOTE ECONOMIC GROWTH IN GRAND FORKS, NORTH DAKOTA AND THE SURROUNDING COMMUNITIES THROUGH THE ATTRACTION OF NEW INDUSTRIES AND EXPANSION OF CURRENT BUSINESSES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

ECONOMIC GROWTH TO THE COMMUNITY THROUGH ATTRACTION OF INDUSTRY


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Board, Officers & Key Employees

Name (title)Compensation
Keith Lund
President/ceo
$162,701
John Oncken
Vice Chair
$0
Shawn Gaddie
Secretary/treasurer
$0
Jonathan Holth
Chair
$0
Brandon Bochenski
Director
$0
Karl Bollingberg
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$365,400
Fundraising events$0
Related organizations$0
Government grants $574,604
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$940,004
Total Program Service Revenue$0
Investment income $15,608
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 $963,329

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Grand Forks Region Economic Development Corporation has recieved totaling $6,129.

Awarding OrganizationAmount
Xcel Energy Foundation

Minneapolis, MN

PURPOSE: ECONOMIC SUSTAINABILITY GRANT

$6,129
View Grant Recipient Profile

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