WILLISTON AREA ECONOMIC DIVERSIFIC… - 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

2003

Legal Domicile

Principal Officer

ANN KVANDE

Phone

7015778110

Tax Period

2024-10-01 to 2025-09-30

WILLISTON AREA ECONOMIC DIVERSIFICATION GROUP, founded in 2003, is a micro nonprofit that reported $42K in total revenue in fiscal year 2024. Revenue grew 17% year-over-year, indicating healthy expansion. Expenses of $77K exceeded revenue, resulting in a 84% operating deficit.

Mission

TO ENSURE THAT WILLISTON'S BUSINESS CLIMATE, WORKFORCE, AND INFRASTRUCTURE ARE POSTURED FOR CONTINUED BUSINESS EXPANSION, ECONOMIC OPPORTUNITIES, AND JOB GROWTH.

Program Service Accomplishments

Program 1

Expenses: $75,130

SUPPORT WORKFORCE NEEDS IN THE WILLISTON AREA.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $181

Other Revenue $41,504

TOTAL REVENUE $41,685

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $75,130

Other Expenses $76,580

TOTAL EXPENSES $76,580

Year-over-Year Comparison

	2024	2023	Change
Revenue	$41,685	$35,532	+0.2%
Expenses	$76,580	$140,749	-0.5%
Net Income	$-34,895	$-105,217	-0.7%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HOWARD KLUG	PRESIDENT	0.25	Officer Director	$0	$0	$0
STEVE KEMP	VICE PRESIDENT	0.25	Officer Director	$0	$0	$0
KEITH OLSON	SECRETARY/TREASURER	0.25	Officer Director	$0	$0	$0
SJON ZUNICH	DIRECTOR	0.25	Director	$0	$0	$0
TAYLOR OLSON	DIRECTOR	0.25	Director	$0	$0	$0
ZACH NELSON	DIRECTOR	0.25	Director	$0	$0	$0
STEVE SLOCUM	DIRECTOR	0.25	Director	$0	$0	$0
BERNELL HIRNING	DIRECTOR	0.25	Director	$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	$41,685	$76,580	$2,816,682	$-34,895
2024	$35,532	$140,749	$2,851,577	$-105,217
2023	$2,454,546	$2,388	$2,956,794	$2,452,158
2022	$500,063	$1,266	$504,636	$498,797

WILLISTON AREA ECONOMIC DIVERSIFICATION GROUP