LAKE AGASSIZ CERTIFIED DEVELOPMENT COMPANY

EIN: 201390956

FARGO, ND

Total Revenue
$431,083
Total Expenses
$400,070
Total Assets
$451,280
Net Assets
$444,988
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2004
Legal Domicile
ND
Principal Officer
DONALD LITCH
Phone
7012351197
Tax Period
2024-01-01 to 2024-12-31

LAKE AGASSIZ CERTIFIED DEVELOPMENT COMPANY, founded in 2004, is a small nonprofit that reported $431K in total revenue in fiscal year 2024. Expenses of $400K left a modest 7% surplus.

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.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $431,083
Investment Income $0
Other Revenue $0
TOTAL REVENUE $431,083

Expense Breakdown

Grants Paid $0
Salaries & Benefits $4,875
Fundraising Expenses $0
Program Expenses $275,629
Other Expenses $395,195
TOTAL EXPENSES $400,070

Year-over-Year Comparison

2024 2023 Change
Revenue $431,083 $428,140 +0.0%
Expenses $400,070 $420,279 0.0%
Net Income $31,013 $7,861 +2.9%
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

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Liquidity & Cash Position

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Governance

Voting Members
10
Independent Members
10
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
7
$2,575
Total Directors
11
$4,700
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MIKE BANNACH PRESIDENT 2.00
Officer Director
$500 $0 $500
DAN DELAHOYDE SECRETARY 2.00
Officer Director
$450 $0 $450
LEROY ADAMS ENDED 1224 TREASURER 2.00
Officer Director
$525 $0 $525
MICHAEL GUST DIRECTOR 2.00
Director
$200 $0 $200
SCOTT SCHULTZ DIRECTOR 2.00
Director
$575 $0 $575
JUSTIN NEPPL TREASURER 2.00
Officer Director
$550 $0 $550
RICK STECKLER DIRECTOR 2.00
Director
$550 $0 $550
KELSEY SMITH DIRECTOR 2.00
Director
$575 $0 $575
JAKE KLOBUCHAR VICE PRESIDENT 2.00
Officer Director
$550 $0 $550
LANDON POSS STARTED 1224 DIRECTOR 2.00
Director
$225 $0 $225
TROY OTT STARTED 1224 DIRECTOR 2.00
Director
$0 $0 $0
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
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
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