FERGUS FALLS AREA ECONOMIC IMPROVEMENT COMMISSION INC

EIN: 411756012

FERGUS FALLS, MN

Total Revenue
$45,382
Total Expenses
$154,194
Total Assets
$446,202
Net Assets
$441,572
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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
MN
Principal Officer
AMY BALDWIN
Phone
2183325408
Tax Period
2018-01-01 to 2018-12-31

FERGUS FALLS AREA ECONOMIC IMPROVEMENT COMMISSION INC, founded in 2003, is a micro nonprofit that reported $45K in total revenue in fiscal year 2018. Revenue fell 38% from the prior year — a significant decline worth monitoring. Expenses of $154K exceeded revenue, resulting in a 240% operating deficit.

Mission

FURTHER THE ECONOMIC DEVELOPMENT IN FERGUS FALLS, MINNESOTA BY AIDING AND PROMOTING THE ATTRACTION AND EXPANSION OF LOCAL BUSINESSES.

Program Service Accomplishments

Program 1
Expenses: $141,283

WE CONTINUED TO FURTHER ECONOMIC DEVELOPMENT IN FERGUS FALLS BY DISTRIBUTING 100,000 TO GREATER FERGUS FALLS, A NEWLY FORMED PRIVATE, NOT-FOR-PROFIT ORGANIZATION COMMITTED TO GROWING AND REVITALIZING...

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WE CONTINUED TO FURTHER ECONOMIC DEVELOPMENT IN FERGUS FALLS BY DISTRIBUTING 100,000 TO GREATER FERGUS FALLS, A NEWLY FORMED PRIVATE, NOT-FOR-PROFIT ORGANIZATION COMMITTED TO GROWING AND REVITALIZING THE BUSINESS COMMUNITY THROUGH A FOCUS ON ECONOMIC DEVELOPMENT, WHICH INCLUDES BUSINESS RETENTION, EXPANSION, RECRUITMENT, MARKETING AND WORKFORCE DEVELOPMENT. IN ADDITION, WE CONTRACTED WITH H2M TO DEVELOP A COMMUNICATIONS STRATEGY FOR THE EIC FOR 15,000. FINALLY, WE CONTINUED TO MARKET AND PROMOTE FERGUS FALLS THROUGH VARIOUS ADS, SPONSORSHIPS AND PROMOTIONAL MATERIALS.

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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 (2018)

Revenue Breakdown

Contributions & Grants $37,500
Program Service Revenue $0
Investment Income $7,882
Other Revenue $0
TOTAL REVENUE $45,382

Expense Breakdown

Grants Paid $1,805
Salaries & Benefits $0
Fundraising Expenses $3,503
Program Expenses $141,283
Other Expenses $152,389
TOTAL EXPENSES $154,194

Year-over-Year Comparison

2018 2017 Change
Revenue $45,382 $73,279 -0.4%
Expenses $154,194 $67,633 +1.3%
Net Income $-108,812 $5,646 -20.3%
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
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
5
$0
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ANDREW BREMSETH EX-OFFICIO 2.00
Director
$0 $0 $0
KARLA CONNELLY DIRECTOR 2.00
Director
$0 $0 $0
ANTHONY HICKS COUNCIL REP 2.00
Officer Director
$0 $0 $0
RON SPANGLER JR DIRECTOR 2.00
Director
$0 $0 $0
KEVIN KING DIRECTOR 2.00
Director
$0 $0 $0
THAD OLSEN CHAIR 2.00
Officer Director
$0 $0 $0
KYLE RICHARDS DIRECTOR 2.00
Director
$0 $0 $0
MARY WALTH VICE CHAIR 2.00
Officer Director
$0 $0 $0
ANDREW YAGGIE SECRETARY/TR 2.00
Officer Director
$0 $0 $0
AMY BALDWIN EXECUTIVE DI 40.00
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
2018 $45,382 $154,194 $446,202 $-108,812
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