Griggs-Steele Empowerment Zone Inc
- Assets
- $5.0m
- Revenue
- $162.6k
- Investments
- $1.0m
- Employees
- 3
- Location
- Finley, ND
- Founding
- 12/1999
- Data as of
- 12/2021
- 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 12/2021, 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 12/2021, Griggs-Steele Empowerment Zone Inc generated $162.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.8%) each year. All expenses for the organization totaled $290.2k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (13.1%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Griggs-Steele Empowerment Zone Inc has awarded 14 individual grants totaling $151,967. 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
2021
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 LOANS TO EXISTING BUSINESSES TO SUPPORT BUSINESS AND JOB RETENTION, GROWTH, AND EXPANSION WITHIN GRIGGS & STEELE COUNTIES IN ND. THROUGHOUT THE YEAR, GSEZ ALSO SHARED INFORMATION WITH AREA BUSINESSES ABOUT THE AVAILABLE COVID-19 ECONOMIC RELIEF PACKAGES.
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 INFRASTRUE AND ENTREPRENEURIAL GROWTH.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elizabeth Berge Cfo/coo | Officer | 32 | $57,111 |
Alan Juliuson President | OfficerTrustee | 1 | $120 |
Ed Everson Director | Trustee | 1 | $120 |
Holly Stromsodt Treasurer | OfficerTrustee | 1 | $60 |
Sheri Lee Secretary | OfficerTrustee | 1 | $60 |
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 | $141,812 |
| Investment income | $9,930 |
| 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 | $162,623 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $22,035 |
| 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. | $75,999 |
| Compensation of current officers, directors, key employees. | $37,913 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $74,601 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $8,442 |
| Payroll taxes | $10,328 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $192 |
| Fees for services: Accounting | $16,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,150 |
| Office expenses | $1,018 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,279 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $810 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,279 |
| Insurance | $3,367 |
| All other expenses | $20 |
| Total functional expenses | $290,209 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $31,815 |
| Savings and temporary cash investments | $1,844,242 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,923 |
| Loans from Officers, Directors, or Controlling Persons | $110,292 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,912,318 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,254 |
| Net Land, buildings, and equipment | $4,888 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,046,272 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $61,872 |
| Total assets | $5,018,876 |
| Accounts payable and accrued expenses | $12,963 |
| 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 | $12,963 |
| Net assets without donor restrictions | $5,005,913 |
| 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 | $5,018,876 |
Grants Awarded
Over the last fiscal year, Griggs-Steele Empowerment Zone Inc has awarded $22,035 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
STEELE COUNTY JDA PURPOSE: MATCHING FUNDS FOR COMMUNITY COORDINATOR POSITION AND EXPENSES. | $16,095 |
HANNAFORD EDC PURPOSE: MATCHING FUNDS FOR COMMUNITY COORDINATOR POSITION AND EXPENSES | $5,940 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Rural America Initiatives Rapid City, SD | $11,020,564 | $7,975,941 |
Western Organization Of Resource Billings, MT | $7,655,474 | $9,479,621 |
Community And Economic Development Associates Chatfield, MN | $1,658,001 | $2,830,781 |
Sharing Our Roots Northfield, MN | $1,750,092 | $967,957 |
Rural Electric Economic Development Inc Madison, SD | $44,957,084 | $2,458,763 |
South Eastern Development Foundation Sioux Falls, SD | $22,464,210 | $4,520,935 |
North Central Planning Council Devils Lake, ND | $2,034,561 | $1,088,900 |
Center For Rural Policy And Development Mankato, MN | $628,188 | $663,588 |
Big Ideas Inc New Ulm, MN | $77,922 | $540,880 |
Montana Cooperative Development Center Inc Great Falls, MT | $357,457 | $497,645 |
North Dakota Farmers Union Foundation Jamestown, ND | $258,278 | $297,826 |
Griggs-Steele Empowerment Zone Inc Finley, ND | $5,018,876 | $162,623 |