Griggs-Steele Empowerment Zone Inc
- Assets
- $5.0m
- Revenue
- $203.1k
- Investments
- $1.1m
- Employees
- 3
- Location
- Finley, ND
- Founding
- 12/1999
- Data as of
- 12/2023
- EIN
- 45-0453134
Organization Overview
Griggs-Steele Empowerment Zone Inc is located in Finley, ND. The organization was established in 1999. According to its NTEE Classification (S32) the organization is classified as: Rural Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Griggs-Steele Empowerment Zone Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Griggs-Steele Empowerment Zone Inc 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, Griggs-Steele Empowerment Zone Inc generated $203.1k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.6%) each year. All expenses for the organization totaled $224.0k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (12.9%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Griggs-Steele Empowerment Zone Inc has awarded 18 individual grants totaling $195,308. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO INCREASE POPULATION WHILE MAINTAINING SUSTAINABLE RURAL VALUES AND LIFESTYLES, TO ENHANCE COMMUNITY FACILITIES AND SERVICES TO SUPPORT REVITALIZATION, TO END OUT-MIGRATION AND TO INVIGORATE AND DIVERSIFY THE ECONOMY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GSEZ CONTINUED TO MAKE AVAILABLE AND PROVIDE LOANS TO EXISTING BUSINESSES TO SUPPORT BUSINESS AND JOB RETENTION, GROWTH, AND EXPANSION WITHIN GRIGGS & STEELE COUNTIES IN ND. GSEZ CONTINUED TO PROVIDE GRANT FUNDS TO NON-PROFIT ORGANIZATIONS IN ITS CONTINUED SUPPORT OF COMMUNITY DEVELOPMENT PROGRAMS, SPECIFICALLY THE COMMUNITY COORDINATOR PROGRAM.
GSEZ CONTRACTED SERVICES TO THE STEELE COUNTY JOB DEVELOPMENT AUTHORITY (JDA) FOR THE POSITION OF PART-TIME STEELE COUNTY COORDINATOR, PROVIDING TECHNICAL AND PROFESSIONAL SERVICES TO ASSIST IN IMPROVING COMMUNITY INFRASTRUTURE AND ENTREPRENEURIAL GROWTH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alan Juliuson President | OfficerTrustee | 1 | $420 |
Holly Stromsodt Treasurer | OfficerTrustee | 1 | $360 |
Sheri Lee Secretary | OfficerTrustee | 1 | $60 |
Brian Tuite Director | Trustee | 1 | $60 |
Ed Everson Director | Trustee | 1 | $120 |
Pete Schumacher Vice President | OfficerTrustee | 1 | $60 |
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 | $154,981 |
| Investment income | $36,479 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,400 |
| 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 | $203,110 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $21,541 |
| 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. | $78,803 |
| Compensation of current officers, directors, key employees. | $48,300 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $71,912 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $15,308 |
| Payroll taxes | $10,611 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,115 |
| Office expenses | $2,239 |
| Information technology | $1,296 |
| Royalties | $0 |
| Occupancy | $7,800 |
| Travel | $28 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $446 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,121 |
| Insurance | $3,464 |
| All other expenses | $198 |
| Total functional expenses | $223,954 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $19,479 |
| Savings and temporary cash investments | $2,264,523 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,749 |
| Loans from Officers, Directors, or Controlling Persons | $100,457 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,449,571 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,854 |
| Net Land, buildings, and equipment | $2,646 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,118,436 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,030 |
| Total assets | $4,980,745 |
| Accounts payable and accrued expenses | $11,999 |
| 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 | $11,999 |
| Net assets without donor restrictions | $4,968,746 |
| 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 | $4,980,745 |
Grants Awarded
Over the last fiscal year, Griggs-Steele Empowerment Zone Inc has awarded $21,541 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
STEELE COUNTY JDA PURPOSE: MATCHING FUNDS FOR COMMUNITY COORDINATOR POSITION AND EXPENSES. | $16,096 |
HANNAFORD EDC PURPOSE: MATCHING FUNDS FOR COMMUNITY COORDINATOR POSITION AND EXPENSES | $5,445 |