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Nonprofiteer
← BRAINERD LAKES AREA DEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by BRAINERD LAKES AREA DEVELOPMENT CORPORATION.

Totals

Total revenue
$535,355
Total expenses
$584,919
Contributions and grants received
$378,330
Grants paid
$0
Program service revenue
$88,122
Investment income
$65,803
Other revenue
$3,100
Total assets, end of year
$2,361,590
Total liabilities, end of year
$47,062
Net assets or fund balances, end of year
$2,314,528
Program services expenses (Part IX)
$482,183
Management and general expenses
$102,736
Fundraising expenses
$0
Program service expenses (Part III)
$482,183

Program services were 82.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1b · Membership dues

    $139,780

  • 1e · Government grants (contributions)

    $216,550

  • 1f · All other contributions, gifts and grants

    $22,000

  • 2a · Program service revenue: FEES FOR SERVICE

    total $88,122 · related or exempt $88,122

  • 3 · Investment income

    total $65,803 · excluded $65,803

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $3,100 · related or exempt $3,100

  • 11e · Other revenue, total

    $3,100

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $142,949 · program services $142,949

  • 7 · Other salaries and wages

    total $198,697 · program services $148,453 · management and general $50,244

  • 8 · Pension plan contributions

    total $6,653 · program services $5,552 · management and general $1,101

  • 9 · Other employee benefits

    total $3,104 · program services $3,104

  • 10 · Payroll taxes

    total $28,875 · program services $24,591 · management and general $4,284

  • 11a · Fees: management

    total $26,782 · management and general $26,782

  • 12 · Advertising and promotion

    total $34,096 · program services $34,096

  • 13 · Office expenses

    total $11,987 · program services $6,138 · management and general $5,849

  • 14 · Information technology

    total $27,447 · program services $27,131 · management and general $316

  • 16 · Occupancy

    total $23,058 · program services $22,323 · management and general $735

  • 19 · Conferences, conventions and meetings

    total $14,755 · program services $11,804 · management and general $2,951

  • 22 · Depreciation, depletion and amortization

    total $15,954 · program services $7,603 · management and general $8,351

  • 23 · Insurance

    total $13,273 · program services $13,273

  • 24a · Other expenses: DUES & PUBLICATIONS

    total $32,007 · program services $32,007

  • 24b · Other expenses: LOAN FEES

    total $3,159 · program services $3,159

  • 24e · All other expenses

    total $2,123 · management and general $2,123

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $856,982 · end of year $694,696

  • 2 · Savings and temporary cash investments

    beginning of year $820,106 · end of year $718,130

  • 3 · Pledges and grants receivable

    beginning of year $138,022 · end of year $90,778

  • 7 · Other notes and loans receivable

    beginning of year $549,069 · end of year $784,913

  • 9 · Prepaid expenses and deferred charges

    beginning of year $10,274 · end of year $10,300

  • 10a · Land, buildings and equipment: cost or other basis

    $171,375

  • 10b · Land, buildings and equipment: accumulated depreciation

    $108,602

  • 10c · Land, buildings and equipment, net

    beginning of year $68,984 · end of year $62,773

  • 17 · Accounts payable and accrued expenses

    beginning of year $75,644 · end of year $44,656

  • 25 · Other liabilities

    beginning of year $3,701 · end of year $2,406

  • 27 · Net assets without donor restrictions

    beginning of year $770,070 · end of year $667,559

  • 28 · Net assets with donor restrictions

    beginning of year $1,594,022 · end of year $1,646,969

Mission and programs · 2023

Mission

ATTRACTING NEW INDUSTRY, RETAINING PRESENT INDUSTRY, AND GENERAL ECONOMIC DEVELOPMENT ACTIVITIES INCLUDING WORKFORCE DEVELOPMENT IN BRAINERD AND THE SURROUNDING AREA.

Activities or mission (Part I)

GENERAL ECONOMIC DEVELOPMENT ACTIVITIES

  • INVOLVED IN ATTRACTING NEW INDUSTRY AND RETAINING PRESENT INDUSTRY IN THE AREA.

    Expenses $279,666 · Revenue $6,386

  • INVOLVED IN COMMUNITY PROMOTION AND WORKFORCE PROMOTION

    Expenses $101,258 · Revenue $42,874

  • INVOLVED IN NEW DEVELOPMENT, RE-DEVELOPMENT OR RENEWAL

    Expenses $53,040 · Revenue $20,981

  • ENCOURAGING AND PROMOTING THE START-UP OF NEW COMPANIES

    Expenses $48,219 · Revenue $20,981

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

Listed in Part VII

  • Terry McFarlin

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • John Ohlin

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5

  • Julie Anderholm

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Jim Haakonson

    PAST PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5

  • Tom Haglin

    PAST PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Mike Dillon

    PAST PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Janelle Riley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Karlo Goerges

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Sandy Zutz-Wiczek

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tyler Glynn

    EXECUTIVE DIRECTOR

    Total calculated
    $142,949
    From this org
    $139,978
    From related orgs
    $0
    Other
    $2,971
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, 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. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202403199349316100

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