GROWTH INITIATIVE FUND

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1993

Legal Domicile

Principal Officer

STEVE DUSEK

Phone

7013641900

Tax Period

2024-01-01 to 2024-12-31

GROWTH INITIATIVE FUND, founded in 1993, is a small nonprofit in the Community Improvement sector that reported $735K in total revenue in fiscal year 2024. Revenue surged 903% from the prior year, signaling strong growth momentum. The organization ran a surplus of $668K, a strong 91% operating margin.

Mission

TO PROMOTE ECONOMIC DEVELOPMENT IN CASS COUNTY, NORTH DAKOTA. THE CORPORATION SHALL EXIST TO CREATE AND MANAGE FINANCIAL PROGRAMS TO ENCOURAGE PRIMARY SECTOR JOB CREATION IN CASS COUNTY.

Program Service Accomplishments

Program 1

Expenses: $22,829 Revenue: $33,108

THE PURPOSE OF GROWTH INITIATIVE FUND, INC. (FUND) SHALL BE TO PROMOTE ECONOMIC DEVELOPMENT IN CASS COUNTY, NORTH DAKOTA. THE ORGANIZATION PROVIDES INCENTIVE LOANS TO EXISTING AND OUT-OF-STATE CLENTS LOOKING TO EXPAND OPERATIONS IN CASS COUNTY, ND AREA TO CREATE EMPLOYMENT WITHIN THE COUNTY. THE FUND IS SET UP FOR LOCAL GOVERNMENTS IN ORDER TO BRING PROFESSIONAL ASSISTANCE AND SUPPORT FROM THE PRIVATE SECTOR AND LESSEN THE BURDENS OF GOVERNMENT. THE FUND IS CURRENTLY SERVICING 86 PACE LOANS AND 0 FUNDING PARTNER LOAN AND 6 MICROLOANS.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $650,000

Program Service Revenue $16,104

Investment Income $69,321

Other Revenue $0

TOTAL REVENUE $735,425

Expense Breakdown

Grants Paid $2,500

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $22,829

Other Expenses $64,977

TOTAL EXPENSES $67,477

Year-over-Year Comparison

	2024	2023	Change
Revenue	$735,425	$73,346	+9.0%
Expenses	$67,477	$59,412	+0.1%
Net Income	$667,948	$13,934	+46.9%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

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

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TOM SEYMOUR	DIRECTOR	0.50	Director	$0	$0	$0
MARK VOIGT	SECRETARY	0.50	Officer Director	$0	$0	$0
JOSH TEIGEN	DIRECTOR	0.50	Director	$0	$0	$0
HARI PANJINI	DIRECTOR	0.50	Director	$0	$0	$0
MICHELLE SCHUMACHER	DIRECTOR	0.50	Director	$0	$0	$0
STEVE DUSEK	CHAIR	0.50	Officer Director	$0	$0	$0
LISA YONEY	VICE CHAIR	0.50	Officer Director	$0	$0	$0
JULIE WHITNEY	TREASURER	0.50	Officer 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
2025	No data	No data	No data	No data
2024	$735,425	$67,477	$9,087,417	$667,948
2023	$73,346	$59,412	$8,405,427	$13,934
2022	$41,280	$72,293	$8,391,493	$-31,013
2021	$49,631	$33,851	$8,422,506	$15,780
2020	$61,356	$32,705	$8,406,726	$28,651
2019	$83,320	$43,196	$8,378,075	$40,124
2018	$81,899	$60,104	$8,337,951	$21,795