ALEXANDRIA AREA ECONOMIC DEVELOPMENT COMMISSION

EIN: 411670874

ALEXANDRIA, MN

Total Revenue
$360,727
Total Expenses
$429,668
Total Assets
$921,505
Net Assets
$867,597
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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
MN
Principal Officer
NICOLE FERNHOLZ
Phone
3207634545
Tax Period
2023-01-01 to 2023-12-31

ALEXANDRIA AREA ECONOMIC DEVELOPMENT COMMISSION, founded in 2004, is a small nonprofit that reported $361K in total revenue in fiscal year 2023. Expenses of $430K exceeded revenue, resulting in a 19% operating deficit.

Mission

THE ALEXANDRIA AREA ECONOMIC DEVELOPMENT COMMISSION IS ORGANIZED TO ASSIST MANUFACTURING AND OTHER BUSINESSES TO LOCATE OR EXPAND IN THE ALEXANDRIA MINNESOTA AREA.

Program Service Accomplishments

Program 1
Expenses: $215,167 Revenue: $332,538

PROVIDE RESOURCES AND CAPITAL FOR BUSINESS AND COMMUNITY DEVELOPMENT IN THE ALEXANDRIA MINNESOTA 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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $332,538
Investment Income $23,020
Other Revenue $5,169
TOTAL REVENUE $360,727

Expense Breakdown

Grants Paid $0
Salaries & Benefits $234,183
Fundraising Expenses $0
Program Expenses $234,473
Other Expenses $195,485
TOTAL EXPENSES $429,668

Year-over-Year Comparison

2023 2022 Change
Revenue $360,727 $338,799 +0.1%
Expenses $429,668 $412,515 +0.0%
Net Income $-68,941 $-73,716 -0.1%
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

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Governance

Voting Members
8
Independent Members
8
Employees
2
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
4
$130,000
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
NICOLE FERNHOLZ EXECUTIVE DI 40.00
Officer
$130,000 $0 $130,000
MATTHEW FISCHER VICE PRESIDE N/A
Officer Director
$0 $0 $0
VICKI JODSAAS DIRECTOR N/A
Director
$0 $0 $0
NICOLE KLIMEK PRESIDENT N/A
Officer Director
$0 $0 $0
JEFF PATIENCE DIRECTOR N/A
Director
$0 $0 $0
TODD POWERS DIRECTOR N/A
Director
$0 $0 $0
EDWARD REIF TREASURER/SE N/A
Officer Director
$0 $0 $0
RYAN ROONEY DIRECTOR N/A
Director
$0 $0 $0
RICK SANSTED DIRECTOR N/A
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
2024 No data No data No data No data
2023 $360,727 $429,668 $921,505 $-68,941
2022 $338,799 $412,515 $985,826 $-73,716
2021 $327,097 $343,329 $1,049,646 $-16,232
2020 $320,344 $303,106 $1,050,476 $17,238
2019 $341,394 $305,751 $1,045,668 $35,643
2018 $344,462 $293,178 $1,000,313 $51,284
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