LAKE AGASSIZ CERTIFIED DEVELOPMENT… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2004

Legal Domicile

Principal Officer

DONALD LITCH

Phone

7012351197

Tax Period

2025-01-01 to 2025-12-31

LAKE AGASSIZ CERTIFIED DEVELOPMENT COMPANY, founded in 2004, is a small nonprofit that reported $571K in total revenue in fiscal year 2025. Revenue surged 32% from the prior year, signaling strong growth momentum. The organization ran a surplus of $111K, a strong 19% operating margin.

Mission

THE LAKE AGASSIZ CERTIFIED DEVELOPMENT COMPANY (LACDC) IS A NON-PROFIT CORPORATION WHOSE MISSION IS TO ASSIST IN MAINTAINING AND ENHANCING THE ECONOMIC VIABILITY OF COMMUNITIES THROUGHOUT NORTH DAKOTA. IN THIS CAPACITY, LACDC PROVIDES FINANCIAL RESOURCES AND TECHNICAL ASSISTANCE, THROUGH FEDERAL, STATE, AND LOCAL PARTNERSHIPS, TO THE STATE'S SMALL BUSINESS ENTERPRISES.

Program Service Accomplishments

Program 1

Expenses: $343,597 Revenue: $554,641

THE LAKE AGASSIZ CERTIFIED DEVELOPMENT COMPANY (LACDC) IS A NON-PROFIT CORPORATION WHOSE MISSION IS TO ASSIST IN MAINTAINING AND ENHANCING THE ECONOMIC VIABILITY OF COMMUNITIES THROUGHOUT NORTH...

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $554,641

Investment Income $13,866

Other Revenue $2,461

TOTAL REVENUE $570,968

Expense Breakdown

Grants Paid $2,500

Salaries & Benefits $4,850

Fundraising Expenses $0

Program Expenses $343,597

Other Expenses $452,851

TOTAL EXPENSES $460,201

Year-over-Year Comparison

	2025	2024	Change
Revenue	$570,968	$431,083	+0.3%
Expenses	$460,201	$400,070	+0.2%
Net Income	$110,767	$31,013	+2.6%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$2,175

Total Directors

$4,850

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MIKE BANNACH	PRESIDENT	2.00	Officer Director	$575	$0	$575
DAN DELAHOYDE	SECRETARY	2.00	Officer Director	$550	$0	$550
MICHAEL GUST	DIRECTOR	2.00	Director	$300	$0	$300
SCOTT SCHULTZ	DIRECTOR	2.00	Director	$575	$0	$575
JUSTIN NEPPL	TREASURER	2.00	Officer Director	$475	$0	$475
RICK STECKLER LEFT 1225	DIRECTOR	2.00	Director	$200	$0	$200
KELSEY SMITH	DIRECTOR	2.00	Director	$575	$0	$575
JAKE KLOBUCHAR	VICE PRESIDENT	2.00	Officer Director	$575	$0	$575
LANDON POSS	DIRECTOR	2.00	Director	$450	$0	$450
TROY OTT	DIRECTOR	2.00	Director	$575	$0	$575
DON LITCH	CHIEF FINANCIAL OFFICER	2.60	Officer	$0	$0	$0
AMBER METZ	EXECUTIVE DIRECTOR	3.60	Officer	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$570,968	$460,201	$582,862	$110,767
2024	$431,083	$400,070	$451,280	$31,013
2023	$428,140	$420,279	$423,645	$7,861
2022	$443,042	$416,746	$422,824	$26,296
2021	$537,405	$388,371	$439,394	$149,034
2020	$439,478	$340,729	$254,875	$98,749
2019	$273,627	$240,935	$143,225	$32,692
2018	$286,731	$236,277	$107,427	$50,454

LAKE AGASSIZ CERTIFIED DEVELOPMENT COMPANY