GREATER FARGO MOORHEAD ECONOMIC DEVELOPMENT CORPORATION (EIN 456011769) - 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

1946

Legal Domicile

Principal Officer

JOSEPH M RASO

Phone

7013641900

Tax Period

2024-01-01 to 2024-12-31

GREATER FARGO MOORHEAD ECONOMIC DEVELOPMENT CORPORATION, founded in 1946, is a community nonprofit in the Community Improvement sector that reported $3.4M in total revenue in fiscal year 2024. Revenue surged 65% from the prior year, signaling strong growth momentum.

Mission

TO GROW & DIVERSIFY THE ECONOMIES OF CASS COUNTY ND AND CLAY COUNTY MN.

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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 $3,235,271

Program Service Revenue $41,415

Investment Income $83,695

Other Revenue $10,117

TOTAL REVENUE $3,370,498

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,343,319

Fundraising Expenses $0

Program Expenses $2,226,429

Other Expenses $1,940,190

TOTAL EXPENSES $3,283,509

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,370,498	$2,046,324	+0.6%
Expenses	$3,283,509	$2,061,813	+0.6%
Net Income	$86,989	$-15,489	-6.6%

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

$329,307

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MATT GILBERTSON	AGENCY DIRECTOR	0.20	Director	$0	$0	$0
BERNIE DARDIS	AGENCY DIRECTOR	0.20	Director	$0	$0	$0
DR TIM MAHONEY	AGENCY DIRECTOR	0.20	Director	$0	$0	$0
RACHEL LEI	AT-LARGE DIRECTOR	0.20	Director	$0	$0	$0
KEVIN HANSON	AT-LARGE DIRECTOR	0.20	Director	$0	$0	$0
TERRI ZIMMERMAN	AT-LARGE DIRECTOR	0.20	Director	$0	$0	$0
TONY GRINDBERG	AGENCY DIRECTOR	0.20	Director	$0	$0	$0
TIFFANY LAWRENCE	AT-LARGE DIRECTOR	0.20	Director	$0	$0	$0
DON CAMPBELL	CHAIR ELECT	0.70	Officer Director	$0	$0	$0
JIM BUUS	CHAIR	0.70	Officer Director	$0	$0	$0
DAVID EBINGER	EXECUTIVE COMMITTEE	0.70	Director	$0	$0	$0
DR CARRIE BRIMHALL	EXECUTIVE COMMITTEE	0.70	Director	$0	$0	$0
CHAD PETERSON	EXECUTIVE COMMITTEE	0.70	Director	$0	$0	$0
JASON SEGER	SECRETARY	0.70	Officer Director	$0	$0	$0
MIKE ARNTSON	TREASURER	0.70	Officer Director	$0	$0	$0
TIM CUROE	AT-LARGE DIRECTOR	0.20	Director	$0	$0	$0
JOSEPH RASO	PRESIDENT/CEO	40.00	Officer	$309,776	$19,531	$329,307
RYAN AASHEIM	CHIEF BUSINESS DEVELOPMENT	40.00	Highest	$151,000	$17,745	$168,745
JOHN MACHACEK	CHIEF INNOVATION OFFICER	40.00	Highest	$115,908	$19,005	$134,913

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	$3,370,498	$3,283,509	$1,909,036	$86,989
2023	$2,046,324	$2,061,813	$2,258,311	$-15,489
2022	$1,756,117	$1,545,484	$2,789,395	$210,633
2021	$1,379,514	$1,567,411	$1,995,409	$-187,897
2020	$1,563,513	$1,477,934	$2,100,954	$85,579
2019	$1,696,233	$1,512,139	$1,722,162	$184,094
2018	$1,360,580	$1,789,721	$1,203,319	$-429,141

GREATER FARGO MOORHEAD ECONOMIC DEVELOPMENT CORPORATION