LAKE AGASSIZ REGIONAL DEVELOPMENT CORPORATION (EIN 450404558) - Form 990 Financial Analysis & Trantor Score

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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

Principal Officer

DONALD LITCH

Phone

7012351197

Tax Period

2024-01-01 to 2024-12-31

LAKE AGASSIZ REGIONAL DEVELOPMENT CORPORATION, founded in 1987, is a community nonprofit that reported $1.1M in total revenue in fiscal year 2024. Expenses of $1.0M left a modest 10% surplus.

Mission

PROVIDES COMMUNITY PLANNING AND ECONOMIC DEVELOPMENT ASSISTANCE TO A SIX-COUNTY REGION OF SOUTHEASTERN NORTH DAKOTA.

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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 (2024)

Revenue Breakdown

Contributions & Grants $152,337

Program Service Revenue $733,999

Investment Income $226,597

Other Revenue $0

TOTAL REVENUE $1,112,933

Expense Breakdown

Grants Paid $0

Salaries & Benefits $618,266

Fundraising Expenses $0

Program Expenses $630,787

Other Expenses $384,577

TOTAL EXPENSES $1,002,843

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,112,933	$1,082,438	+0.0%
Expenses	$1,002,843	$1,086,507	-0.1%
Net Income	$110,090	$-4,069	-28.1%

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

$150,659

Total Directors

Key Employees

Highest Compensated

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
DONALD LITCH	CHIEF FINANCIAL OFFICER	25.00	Officer	$86,115	$15,992	$102,107
AMBER METZ	EXECUTIVE DIRECTOR	15.00	Officer	$42,646	$5,906	$48,552
SARA D ISAAK	SENIOR COMMERCIAL LOAN OFF	8.00	Highest	$106,887	$15,959	$122,846

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	$1,112,933	$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

LAKE AGASSIZ REGIONAL DEVELOPMENT CORPORATION