Communityworks North Dakota
- Assets
- $19.8m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 22
- Location
- Mandan, ND
- Founding
- 09/1995
- Data as of
- 09/2023
- EIN
- 45-0440770
Organization Overview
Communityworks North Dakota is located in Mandan, ND. The organization was established in 1995. According to its NTEE Classification (L80) the organization is classified as: Housing Support, under the broad grouping of Housing & Shelter and related organizations. As of 09/2023, Communityworks North Dakota employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Communityworks North Dakota 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 09/2023, Communityworks North Dakota generated $2.2m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 14.7% each year . All expenses for the organization totaled $2.0m during the year ending 09/2023. While expenses have increased by 19.7% per year over the past 8 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING AFFORDABLE HOUSING & DEVELOPMENT OPPORTUNITIES TO REVITALIZE COMMUNITIES & IMPROVE THE STANDARD OF LIVING & QUALITY OF LIFE FOR NORTH DAKOTANS. PROVIDE LOW INTEREST LOANS FOR EMERGENCY HOME REPAIRS, MORTGAGE ASSISTANCE, 1ST MORTGAGE LOANS, AND CONSTRUCTION LOANS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOW-INCOME HOUSING RENTAL PROPERTIES - PROVIDE MANAGEMENT SERVICES FOR 698 UNITS 2023. EXPENSES INCLUDE MANAGEMENT AND OPERATIONS OF THE RENTAL PROPERTIES.
REVOLVING LOAN PROGRAM - PROVIDES AFFORDABLE LOANS, WITH TERMS BASED ON THE BORROWER'S CAPACITY TO REPAY, FOR DOWN PAYMENT AND CLOSING COST ASSISTANCE, REHABILITATION LOANS, LOANS FOR EMERGENCY REPAIRS, AND OTHER MORTGAGE ASSISTANCE, INCLUDING CONSTRUCTION AND FIRST MORTGAGE LOANS. IN 2023, 35 MORTGAGE LOANS TOTALLING 662,480 WERE AWARDED. 6 LOANS FOR FINANCING DEVELOPMENT OF AFFORDABLE HOUSING WERE CLOSED IN 2023 TOTALING 1,223,853 FOR 40 NEW AND 132 EXISTING UNITS. CLIENT FEES AND LOAN INTEREST ARE USED TO ADMINISTER THE PROGRAM IN ADDITION TO GRANTS AND CONTRIBUTIONS.
HOUSING DEVELOPMENT -CWND CONSTRUCTS, ACQUIRES, REHABILITATES, AND OPERATES MULTI-FAMILY AFFORDABLE HOUSING UNITS THROUGHOUT NORTH DAKOTA. DURING 2023 CWND WAS AWARDED 9% TAX CREDITS TO CONSTRUCT 150 UNITS OF AFFORDABLE HOUSING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brent Ekstrom Executive Di | Officer | 30 | $109,490 |
Mike Remboldt President | OfficerTrustee | 2 | $0 |
David Rogstad Vice Preside | OfficerTrustee | 2 | $0 |
Jessica Thomasson Secretary | OfficerTrustee | 2 | $0 |
Jennifer Henderson Treasurer | OfficerTrustee | 2 | $0 |
Dawn Aanderud Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $593,257 |
| 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 | $593,257 |
| Total Program Service Revenue | $1,569,690 |
| Investment income | $3,294 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $24,555 |
| 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 | $2,236,771 |
| 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. | $154,740 |
| Compensation of current officers, directors, key employees. | $94,446 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $566,483 |
| Pension plan accruals and contributions | $74,808 |
| Other employee benefits | $84,364 |
| Payroll taxes | $85,525 |
| Fees for services: Management | $11,156 |
| Fees for services: Legal | $6,654 |
| Fees for services: Accounting | $136,504 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $22,604 |
| Advertising and promotion | $10,565 |
| Office expenses | $53,689 |
| Information technology | $60,251 |
| Royalties | $0 |
| Occupancy | $306,921 |
| Travel | $31,051 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $162,052 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $122,006 |
| Insurance | $60,803 |
| All other expenses | $2,168 |
| Total functional expenses | $2,028,024 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $269,075 |
| Savings and temporary cash investments | $2,752,537 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,020,285 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $10,164,321 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $35,061 |
| Net Land, buildings, and equipment | $4,627,865 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $623,779 |
| Intangible assets | $12,465 |
| Other assets | $332,768 |
| Total assets | $19,838,156 |
| Accounts payable and accrued expenses | $106,016 |
| Grants payable | $0 |
| Deferred revenue | $6,462 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $60,629 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $6,648,953 |
| Unsecured mortgages and notes payable | $935,076 |
| Other liabilities | $319,924 |
| Total liabilities | $8,077,060 |
| Net assets without donor restrictions | $11,761,096 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $19,838,156 |
Grants Awarded
Over the last fiscal year, Communityworks North Dakota has awarded $30,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF BISMARCK PURPOSE: HOUSING NEEDS ASSESSMENT | $10,000 |
ND HOUSING FINANCE AGENCY PURPOSE: HOUSING DEV FINANCE PROF CERT TRNG | $20,000 |