LAKE AGASSIZ REGIONAL DEVELOPMENT CORPORATION

EIN: 450404558 501(c)(3)

FARGO, ND

Total Revenue
$1,151,315
Total Expenses
$1,085,440
Total Assets
$6,287,991
Net Assets
$3,969,811
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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
1987
Legal Domicile
ND
Principal Officer
DONALD LITCH
Phone
7012351197
Tax Period
2025-01-01 to 2025-12-31

LAKE AGASSIZ REGIONAL DEVELOPMENT CORPORATION, founded in 1987, is a community nonprofit that reported $1.2M in total revenue in fiscal year 2025. Expenses of $1.1M left a modest 6% surplus.

Mission

TO IDENTIFY AND PROVIDE FINANCING OPPORTUNITIES AND TECHNICAL ASSISTANCE TO EMERGING AND EXISTING BUSINESSES, PROVIDE COMMUNITY AND ECONOMIC DEVELOPMENT PLANNING AND IMPLEMENTATION FOR THE LONG-TERM SUSTAINABILITY AND GROWTH OF THE REGION, AND TO COORDINATE FEDERAL, STATE, AND PRIVATE PROGRAM ADMINISTRATION.

Program Service Accomplishments

Program 1
Expenses: $741,479 Revenue: $792,549

PROVIDES COMMUNITY PLANNING AND ECONOMIC DEVELOPMENT ASSISTANCE AND OPERATION OF REGIONAL SMALL BUSINESS CENTER.

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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 (2025)

Revenue Breakdown

Contributions & Grants $133,258
Program Service Revenue $792,549
Investment Income $225,508
Other Revenue $0
TOTAL REVENUE $1,151,315

Expense Breakdown

Grants Paid $0
Salaries & Benefits $723,262
Fundraising Expenses $0
Program Expenses $741,479
Other Expenses $362,178
TOTAL EXPENSES $1,085,440

Year-over-Year Comparison

2025 2024 Change
Revenue $1,151,315 $1,112,933 +0.0%
Expenses $1,085,440 $1,002,843 +0.1%
Net Income $65,875 $110,090 -0.4%
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
5
Independent Members
5
Employees
8
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
6
$169,369
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ROBERT WURL SECRETARY 1.00
Officer Director
$0 $0 $0
RICK MAIRS PRESIDENT 1.00
Officer Director
$0 $0 $0
LARRY JACOBSEN VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
LISA ROTVOLD TREASURER 1.00
Officer Director
$0 $0 $0
JASON ARTH DIRECTOR 1.00
Director
$0 $0 $0
DONALD LITCH CHIEF FINANCIAL OFFICER 25.00
Officer
$88,063 $16,588 $104,651
AMBER METZ EXECUTIVE DIRECTOR 15.00
Officer
$47,507 $17,211 $64,718
SARA D ISAAK SENIOR COMMERCIAL LOAN OFF 8.00
Highest
$113,100 $8,194 $121,294
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 $1,151,315 $1,085,440 $6,287,991 $65,875
2024 $1,112,933 $1,002,843 $6,440,859 $110,090
2023 $1,082,438 $1,086,507 $6,313,719 $-4,069
2022 $1,028,697 $1,021,635 $6,609,256 $7,062
2021 $1,263,112 $940,497 $6,919,532 $322,615
2020 $1,049,464 $888,079 $6,789,842 $161,385
2019 $936,762 $820,908 $6,309,784 $115,854
2018 $1,074,260 $1,002,497 $5,994,258 $71,763
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