North Dakota Trade Office Inc
- Assets
- $1.7m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 10
- Location
- Fargo, ND
- Founding
- 01/2005
- Data as of
- 06/2024
- EIN
- 84-1636215
Organization Overview
North Dakota Trade Office Inc is located in Fargo, ND. The organization was established in 2005. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2024, North Dakota Trade Office Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. North Dakota Trade Office Inc 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 06/2024, North Dakota Trade Office Inc generated $2.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.4%) each year. All expenses for the organization totaled $1.6m during the year ending 06/2024. As we would expect to see with falling revenues, expenses have declined by (1.7%) per year over the past 8 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE EDUCATION, RESEARCH, ENGAGEMENT, ADVOCACY, AND EXPERTISE SO THAT NORTH DAKOTA COMPANIES DEVELOP THEIR EXPORT BUSINESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REVERSE TRADE MISSION - INTERNATIONAL DELEGATES TRAVEL TO NORTH DAKOTA TO LEARN ABOUT NORTH DAKOTA PRODUCTS/SERVICES, PARTNERSHIPS, AND OTHER OPPORTUNITIES. SPONSOR OF BIG IRON WHICH IS AN ANNUAL EVENT OF NEW FARM EQUIPMENT AND PROVIDE LIAISON BETWEEN AGRI-BUSINESS DEALERS AND NEW TRADE PARTNER.
GLOBAL BUSINESS CONFERENCE, TRADE TALK SEMINARS, AND EXPORTECH EDUCATION PROGRAMS - PROVIDED TO ALL MEMBERS AND AVAILABLE ON A FEE BASIS TO THE PUBLIC. SEMINARS AND TRAINING PROVIDED BY NATIONAL EXPERTS ON INTERNATIONAL TRADE AND HOW TO BE SUCCESSFUL. EXPORT ASSISTANT PROGRAM PROVIDES GRADUATE STUDENTS TO MEMBERS TO ALLOW THE MEMBERS TO GAIN KNOWLEDGE AND EXPERTISE TO THE PARTICULAR COUNTRIES THEY ARE EXECUTING TRADE BUSINESS. PROVIDE DAY TO DAY PROFESSIONAL SERVICES TO CLIENT. PROVIDE WEB BASED DATA SUBSCRIPTION SERVICES. MANAGE, VERIFY AND REIMBURSED ND EXPORTER FUNDS FROM STEP PROGRAM.
TRADE MISSION - NORTH DAKOTA BUSINESSES AND OTHERS TRAVEL ABROAD TO TOUR AND MEET POTENTIAL TRADE PARTNERS FOR NORTH DAKOTA PRODUCTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Doug Goehring Board Member | Trustee | 2 | $0 |
Bill Price Board Member | Trustee | 2 | $0 |
Sherman Wehlander Board Member | Trustee | 2 | $0 |
Laura Oberst Board Member (left 1/24) | Trustee | 2 | $0 |
Beverly Flaten Board Member | Trustee | 2 | $0 |
Tom Shorma Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,109,269 |
| 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 | $2,109,269 |
| Total Program Service Revenue | $191,692 |
| Investment income | $1,450 |
| 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 | $2,303,238 |
| 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. | $139,304 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $337,181 |
| Pension plan accruals and contributions | $54,126 |
| Other employee benefits | $0 |
| Payroll taxes | $37,125 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $54,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10 |
| Advertising and promotion | $35,328 |
| Office expenses | $18,582 |
| Information technology | $21,407 |
| Royalties | $0 |
| Occupancy | $59,337 |
| Travel | $52,480 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $189 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,477 |
| Insurance | $5,134 |
| All other expenses | $18,791 |
| Total functional expenses | $1,636,560 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,132,152 |
| Savings and temporary cash investments | $423,228 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $17,598 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $107,651 |
| Net Land, buildings, and equipment | $18,335 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,698,964 |
| Accounts payable and accrued expenses | $15,959 |
| Grants payable | $0 |
| Deferred revenue | $48,615 |
| 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 | $64,574 |
| Net assets without donor restrictions | $1,634,390 |
| 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 | $1,698,964 |