MINOT AREA DEVELOPMENT CORPORATION

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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

1959

Legal Domicile

Principal Officer

JOHN MACMARTIN

Phone

7018521075

Tax Period

2021-01-01 to 2021-12-31

Mission

TO FACILITATE THE RETENTION, EXPANSION, START-UP AND RELOCATION OF PRIMARY SECTOR BUSINESSES IN THE MINOT AREA TO DIVERSIFY AND GROW THE REGION'S ECONOMY.

Program Service Accomplishments

Program 1

THE MINOT AREA DEVELOPMENT CORPORATION (MADC) IS COMMITTED TO SUCCESSFULLY GROWING THE ECONOMY IN THE MINOT AREA. TOGETHER WITH THE SUPPORT OF OUR INVESTORS, THE CITY OF MINOT, WARD COUNTY, AND THE STATE OF NORTH DAKOTA, MADC STRIVES TO INCREASE EMPLOYMENT AND PROVIDE CONTINUED ECONOMIC STABILITY FOR THE AREA. THROUGH THE SUCCESSFUL RECRUITMENT, RETENTION, AND/OR EXPANSION OF MANY BUSINESSES, NEW JOBS HAVE COME TO THE MINOT TRADE AREA. THESE NEW JOBS CREATE NEW WEALTH THAT FLOWS DOWN THROUGH OUR ENTIRE COMMUNITY, THUS PROMISING A MORE PROSPEROUS FUTURE FOR ALL MINOT RESIDENTS.

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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 (2021)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $0

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $0

TOTAL EXPENSES $0

Year-over-Year Comparison

	2021	2020	Change
Revenue	N/A	$1,006,267	-1.0%
Expenses	N/A	$717,365	-1.0%
Net Income	N/A	$288,902	N/A

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

N/A

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

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RANDY HAUCK	CHAIRMAN	2.00	Officer Director	$0	$0	$0
JONN KNECHT	VICE CHAIRMAN	2.00	Officer Director	$0	$0	$0
RYAN ACKERMAN	SECRETARY/REASURER	2.00	Officer Director	$0	$0	$0
ALAN WALTER	DIRECTOR	2.00	Director	$0	$0	$0
SHAUN SIPMA	DIRECTOR	2.00	Director	$0	$0	$0
BREKKA KRAMER	DIRECTOR	2.00	Director	$0	$0	$0
KEVIN BLACK	DIRECTOR	2.00	Director	$0	$0	$0
STEVE BLASING	DIRECTOR	2.00	Director	$0	$0	$0
STACY NORTON	DIRECTOR	2.00	Director	$0	$0	$0
CURT OLSON	DIRECTOR	2.00	Director	$0	$0	$0
JASON SANDERS	DIRECTOR	2.00	Director	$0	$0	$0
DR STEVEN SHIRLEY	DIRECTOR	2.00	Director	$0	$0	$0
DR MARK VOLLMER	DIRECTOR	2.00	Director	$0	$0	$0
JOHN MACMARTIN	PRESIDENT/CEO	20.00	Officer	$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
2021	No data	No data	No data	No data
2020	$1,006,267	$717,365	$8,054,687	$288,902
2019	$1,502,025	$577,272	$11,710,210	$924,753
2018	$883,738	$757,763	$11,487,523	$125,975