New Rockford Area Betterment Corporation
- Assets
- $1.7m
- Revenue
- $465.1k
- Investments
- $0.0
- Employees
- 2
- Location
- New Rockford, ND
- Founding
- 10/1991
- Data as of
- 12/2023
- EIN
- 45-0418280
Organization Overview
New Rockford Area Betterment Corporation is located in New Rockford, ND. The organization was established in 1991. 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. As of 12/2023, New Rockford Area Betterment Corporation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Rockford Area Betterment 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 12/2023, New Rockford Area Betterment Corporation generated $465.1k 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 (4.3%) each year. All expenses for the organization totaled $178.0k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (11.0%) per year over the past 9 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE NRABC IS TO PROVIDE COMMUNITY BETTERMENT PROJECTS AND FACILITIES TO HELP FACILITATE THE GROWTH AND SUSTAIN THE OVERALL WELL-BEING OF THE COMMUNITY THEY SERVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATE SEVERAL COMMUNITY BETTERMENT PROJECTS
THE NRABC OVERSEES THE NEW ROCKFORD MOVIE THEATER WHICH PROVIDES BETTERMENT TO THE COMMUNITY BY ALLOWING RESIDENTS TO HAVE A PLACE TO GO FOR PERSONAL ENTERTAINMENT AND SATISFACTION.
THE NRABC ALSO OVERSEES THE COMMUNITY BOWLING ALLEY, SWIMMING POOL AND DAYCARE CENTER WHICH PROVIDES COMMUNITY BETTERMENT BY ALLOWING RESIDENTS TO HAVE A PLACE TO WORK ON PHYSICALL FITNESS THAT ALLOWS PEOPLE TO LIVE A HEALTHIER AND HOPEFULLY LONGER LIFE. THE DAYCARE BUILDING IS ESSENTIAL TO ALLOW PARENTS IN OUR COMMUNITY TO HAVE A PLACE FOR CHILD CARE SO THEY ARE ABLE TO HAVE A JOB IN THE WORKPLACE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melinda Martin Director | Trustee | 1 | $0 |
Stuart Richter President | OfficerTrustee | 1 | $0 |
Jim Belquist Treasurer | OfficerTrustee | 10 | $0 |
Kerri Allmaras Secretary | OfficerTrustee | 1 | $0 |
Amy Ellingson Director | Trustee | 1 | $0 |
Dillion Hewitt City Commission Repr. | Trustee | 1 | $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 | $472,212 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $472,212 |
| Total Program Service Revenue | $19,908 |
| Investment income | $4,424 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$31,459 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $465,085 |
| 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 | $56,188 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $9,669 |
| Payroll taxes | $4,423 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,465 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $802 |
| Office expenses | $2,710 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,463 |
| Travel | $733 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,407 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $66,326 |
| Insurance | $3,563 |
| All other expenses | $2,884 |
| Total functional expenses | $177,967 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $276,073 |
| Savings and temporary cash investments | $458,967 |
| 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 | $428,488 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $444,359 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $77,495 |
| Total assets | $1,685,382 |
| Accounts payable and accrued expenses | $1,302 |
| 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 | $468,873 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $470,175 |
| 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 | $486,204 |
| Retained earnings, endowment, accumulated income, or other funds | $729,003 |
| Total liabilities and net assets/fund balances | $1,685,382 |