Form 990-EZ for tax year 2023

Totals

Total revenue

$124,695

Total expenses

$109,230

Contributions and grants received

$123,410

Grants paid

— not reported

Program service revenue

— not reported

Membership dues (line 3)

— not reported

Investment income (line 4)

— not reported

Gain or loss on sale of assets (line 5c)

— not reported

Gaming and fundraising events, net (line 6d)

$1,285

Gross profit on inventory sales (line 7c)

— not reported

Other revenue (line 8)

— not reported

Total assets, end of year

$49,349

Total liabilities, end of year

$26,996

Net assets or fund balances, end of year

$22,353

Program service expenses (Part III)

$96,543

Program services were 88.4% of total expenses calculated — Part III's total program service expenses over total expenses, both as filed.

Mission and programs · 2023

• ND REC Foundation's primary purpose is to provide training and technical assistance to sustain quality of life for rural people and businesses at no charge to the individuals or businesses. The Foundation works to receive grants most recently focusing on the line worker training facility as well as food access in rural communities.One of the main goals of the Foundation since its inception is to collect contributions to be used to build a new line worker training facility that will be used jointly by NDAREC and BSC. Primarily the building will be leased by BSC to provide education to students interested in becoming line workers. Education and training courses will also be held by NDAREC in the facility for current line workers to teach new skills, providing safety training, and other relevant education and training needs.During 2023 ND REC Foundation received a 5-year grant for the purpose of paying for employees' time to provide direct technical assistance to small-and-mid-sized food and farm businesses by partnering with other organizations in the region to develop a statewide action plan that will be aggregated with other regional state plans to find common goals and objectives to help with local and statewide objectives.ND REC Foundation also continues to provide technical assistance to the Rural Access Distribution Cooperative in Northeast North Dakota as they continue to work through the operating of their cooperative focused around lowering transportation costs and increasing purchases to receive more favorable pricing for rural grocers within the cooperative and also providing access to grocery items in rural communities without a grocery store.In 2023, ND REC Foundation was awarded two other grants:1. A Local Foods Promotion Program 3-year grant from USDA Rural Development to assist with providing technical assistance around food warehousing in a region within North Dakota and how this might help to reduce costs, increase local producers marketing reach, and provide rural communities more access to fresh, local foods.2. A grant from a private entity to assist with the warehousing feasibility study.

  Expenses $96,543

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part IV

Compensation is as filed in Part IV of the Form 990-EZ: compensation, contributions to benefit plans, expense account, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type

form_990_ez

Tax year

2023

Filed

23 July 2024

IRS schema version

2023v5.1

Source object

202412079349201301

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