HILLSBORO ECONOMIC DEVELOPMENT CORP

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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

1995

Legal Domicile

Principal Officer

TERRY SANDO

Phone

7014301213

Tax Period

2025-01-01 to 2025-12-31

HILLSBORO ECONOMIC DEVELOPMENT CORP, founded in 1995, is a small nonprofit in the Community Improvement sector that reported $349K in total revenue in fiscal year 2025. The organization ran a surplus of $195K, a strong 56% operating margin.

Mission

TO LESSEN THE GOVERNMENTS BURDEN OF UNDERTAKING ECONOMIC DEVELOPMENT TO SUSTAIN HILLSBORO, ND AS A COMMUNITY BY ENCOURAGING THE DEVELOPMENT OF INDUSTRY AND BUSINESS IN

Program Service Accomplishments

Program 1

Expenses: $150,926 Revenue: $348,673

COMMUNITY ECONOMIC DEVELOPMENT AND PROMOTION OF HILLSBORO, ND WITH THE PURPOSE OF EASING GOVERNMENT EXPENSES IN THIS 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 (2025)

Revenue Breakdown

Contributions & Grants $129,785

Program Service Revenue $0

Investment Income $16,712

Other Revenue $202,176

TOTAL REVENUE $348,673

Expense Breakdown

Grants Paid $109,993

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $150,926

Other Expenses $43,223

TOTAL EXPENSES $153,216

Year-over-Year Comparison

	2025	2024	Change
Revenue	$348,673	$345,813	+0.0%
Expenses	$153,216	$129,323	+0.2%
Net Income	$195,457	$216,490	-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

Governance

Voting Members

Independent Members

Employees

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

Total Directors

Key Employees

$6,298

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TERRY SANDO	PRESIDENT	1.00	Officer Director	$0	$0	$0
DUSTIN NAGEL	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
RYAN OPDAHL ENDS JULY 2025	TREASURER	1.00	Officer Director	$0	$0	$0
JR STROM	TREASURER	1.00	Officer Director	$0	$0	$0
BRETT BOEDDEKER	DIRECTOR	1.00	Director	$0	$0	$0
CATHY BRENAN	DIRECTOR	1.00	Director	$0	$0	$0
JON DRYBURGH	DIRECTOR	1.00	Director	$0	$0	$0
MARK FORSETH	DIRECTOR	1.00	Director	$0	$0	$0
RICK NELSON	DIRECTOR	1.00	Director	$0	$0	$0
SARAH REIMERS	DIRECTOR	1.00	Director	$0	$0	$0
SHEILA GERAY	BUSINESS MANAGER	10.00	Key Emp	$6,298	$0	$6,298

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	$348,673	$153,216	$1,284,259	$195,457
2024	No data	No data	No data	No data
2023	$295,915	$84,799	$872,827	$211,116
2022	$269,380	$74,207	$660,995	$195,173
2021	$142,616	$51,295	$465,768	$91,321
2020	$94,215	$43,660	$374,193	$50,555
2019	$58,975	$39,979	$324,767	$18,996
2018	$87,007	$74,995	$306,219	$12,012