GREATER BEMIDJI INC

EIN: 363367707 501(c)(3)

BEMIDJI, MN

Total Revenue
$1,344,929
Total Expenses
$1,461,599
Total Assets
$7,528,858
Net Assets
$6,802,605
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1985
Legal Domicile
MN
Principal Officer
DAVID HENGEL
Phone
2184445757
Tax Period
2024-01-01 to 2024-12-31

GREATER BEMIDJI INC, founded in 1985, is a community nonprofit that reported $1.3M in total revenue in fiscal year 2024. Revenue fell 43% from the prior year — a significant decline worth monitoring. Net assets of $6.8M represent 61 months of operating reserves.

Mission

TO IMPROVE THE QUALITY OF LIFE FOR THE GREATER BEMIDJI REGION BY IDENTIFYING, ENCOURAGING, AND PROVIDING COORDINATED SUPPORT TO BUSINESSES THAT CREATE QUALITY JOBS AND IMPROVE THE ECONOMIC BASE OF THE COMMUNITY.

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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 $1,218,102
Program Service Revenue $111,417
Investment Income $-146,954
Other Revenue $162,364
TOTAL REVENUE $1,344,929

Expense Breakdown

Grants Paid $0
Salaries & Benefits $322,161
Fundraising Expenses $69,081
Program Expenses $1,254,409
Other Expenses $1,139,438
TOTAL EXPENSES $1,461,599

Year-over-Year Comparison

2024 2023 Change
Revenue $1,344,929 $2,353,418 -0.4%
Expenses $1,461,599 $1,661,006 -0.1%
Net Income $-116,670 $692,412 -1.2%
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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Governance

Voting Members
28
Independent Members
28
Employees
3
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
5
$208,641
Total Directors
28
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JORGE PRINCE BOARD MEMBER 0.50
Director
$0 $0 $0
PETE AUBE BOARD MEMBER 0.50
Director
$0 $0 $0
MARY EATON BOARD MEMBER 0.50
Director
$0 $0 $0
BOB FITZGERALD BOARD MEMBER 0.50
Director
$0 $0 $0
JESS FRENZEL BOARD MEMBER 0.50
Director
$0 $0 $0
TIM KNUDSON BOARD MEMBER 0.50
Director
$0 $0 $0
JOHN CARLSON BOARD MEMBER 0.50
Director
$0 $0 $0
STEVE HILL BOARD MEMBER 0.50
Director
$0 $0 $0
ERIK HOKUF SECRETARY 0.50
Officer Director
$0 $0 $0
GARY JOHNSON BOARD MEMBER 0.50
Director
$0 $0 $0
BARB SMITH BOARD MEMBER 0.50
Director
$0 $0 $0
JARED ECHTERNACH BOARD MEMBER 0.50
Director
$0 $0 $0
MICAH RICKE BOARD MEMBER 0.50
Director
$0 $0 $0
KAREN WELLER BOARD MEMBER 0.50
Director
$0 $0 $0
PHIL VERCHOTA TREASURER 0.50
Officer Director
$0 $0 $0
HUGH WELLE BOARD MEMBER 0.50
Director
$0 $0 $0
JOHN HOFFMAN BOARD MEMBER 0.50
Director
$0 $0 $0
JASON BRODINA VICE PRESIDENT 0.50
Officer Director
$0 $0 $0
SHELLY GEERDES PRESIDENT 0.50
Officer Director
$0 $0 $0
MITCH RAUTIO BOARD MEMBER 0.50
Director
$0 $0 $0
JAKE ELLEFSON BOARD MEMBER 0.50
Director
$0 $0 $0
JEREMY OLSON BOARD MEMBER 0.50
Director
$0 $0 $0
KARLA EISCHENS BOARD MEMBER 0.50
Director
$0 $0 $0
GRETCHEN KNUTSON BOARD MEMBER 0.50
Director
$0 $0 $0
RYAN BAER BOARD MEMBER 0.50
Director
$0 $0 $0
KEVIN ERPELDING BOARD MEMBER 0.50
Director
$0 $0 $0
CAM LEWIS BOARD MEMBER 0.50
Director
$0 $0 $0
ROB AITKEN BOARD MEMBER 0.50
Director
$0 $0 $0
DAVID HENGEL EXECUTIVE DIRECTOR 40.00
Officer
$0 $0 $208,641
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 $1,344,929 $1,461,599 $7,528,858 $-116,670
2023 $2,353,418 $1,661,006 $7,873,180 $692,412
2022 $3,174,764 $1,712,019 $7,526,153 $1,462,745
2021 $2,018,676 $2,230,361 $6,962,048 $-211,685
2020 $3,229,199 $2,367,725 $7,975,794 $861,474
2019 $1,401,404 $1,404,584 $5,122,095 $-3,180
2018 $1,824,202 $1,281,985 $4,977,693 $542,217
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