GRAND FORKS DEVELOPMENT FOUNDATION

EIN: 456016823

GRAND FORKS, ND

Total Revenue
$9,737
Total Expenses
$1,320
Total Assets
$296,179
Net Assets
$296,179
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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
1967
Legal Domicile
ND
Principal Officer
KEITH LUND
Phone
7017462720
Tax Period
2023-01-01 to 2023-12-31

GRAND FORKS DEVELOPMENT FOUNDATION, founded in 1967, is a micro nonprofit that reported $10K in total revenue in fiscal year 2023. Revenue surged 60756% from the prior year, signaling strong growth momentum. The organization ran a surplus of $8K, a strong 86% operating margin.

Mission

PROMOTE ECONOMIC GROWTH IN GRAND FORKS, NORTH DAKOTA AND THE SURROUNDING COMMUNITIES THROUGH THE ATTRACTION OF NEW INDUSTRIES AND EXPANSION OF CURRENT BUSINESSES.

Program Service Accomplishments

Program 1

ECONOMIC GROWTH TO COMMUNITY THROUGH ATTRACTION OF INDUSTRY

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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 (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $0
Other Revenue $9,737
TOTAL REVENUE $9,737

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $1,320
TOTAL EXPENSES $1,320

Year-over-Year Comparison

2023 2022 Change
Revenue $9,737 $16 +607.6%
Expenses $1,320 $65,947 -1.0%
Net Income $8,417 $-65,931 -1.1%
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

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Governance

Voting Members
3
Independent Members
2
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
3
$219,032
Total Directors
3
$219,032
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SHAWN GADDIE VICE CHAIR 1.00
Officer Director
$0 $0 $0
JOHN ONCKEN CHAIR 1.00
Officer Director
$0 $0 $0
KEITH LUND SEC/TREAS 1.00
Officer Director
$0 $39,032 $219,032
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 No data No data No data No data
2023 $9,737 $1,320 $296,179 $8,417
2022 $16 $65,947 $287,762 $-65,931
2021 $5,210 $251,480 $603,693 $-246,270
2020 $4,986 $1,490 $599,963 $3,496
2019 $5,054 $859 $596,467 $4,195
2018 $290 $845 $592,272 $-555
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