Form 990 for tax year 2024
Filed by BRAINERD LAKES AREA DEVELOPMENT CORPORATION.
Totals
- Total revenue
- $582,044
- Total expenses
- $751,720
- Contributions and grants received
- $374,711
- Grants paid
- $0
- Program service revenue
- $120,566
- Investment income
- $85,714
- Other revenue
- $1,053
- Total assets, end of year
- $2,181,183
- Total liabilities, end of year
- $36,331
- Net assets or fund balances, end of year
- $2,144,852
- Program services expenses (Part IX)
- $619,173
- Management and general expenses
- $132,547
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $619,173
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
$140,150
-
1e · Government grants (contributions)
$224,460
-
1f · All other contributions, gifts and grants
$10,101
-
2a · Program service revenue: FEES FOR SERVICE
total $120,566 · related or exempt $120,566
-
3 · Investment income
total $85,714 · excluded $85,714
-
11a · Other revenue: MISCELLANEOUS INCOME
total $1,053 · excluded $1,053
-
11e · Other revenue, total
$1,053
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $124,769 · program services $124,769
-
7 · Other salaries and wages
total $230,072 · program services $161,944 · management and general $68,128
-
8 · Pension plan contributions
total $7,063 · program services $5,006 · management and general $2,057
-
9 · Other employee benefits
total $4,355 · program services $2,457 · management and general $1,898
-
10 · Payroll taxes
total $27,855 · program services $22,452 · management and general $5,403
-
11c · Fees: accounting
total $27,356 · management and general $27,356
-
11g · Fees: other
total $5,423 · program services $5,423
-
12 · Advertising and promotion
total $24,721 · program services $24,721
-
13 · Office expenses
total $12,532 · program services $4,899 · management and general $7,633
-
14 · Information technology
total $33,223 · program services $27,740 · management and general $5,483
-
16 · Occupancy
total $23,026 · program services $20,865 · management and general $2,161
-
19 · Conferences, conventions and meetings
total $20,462 · program services $16,384 · management and general $4,078
-
22 · Depreciation, depletion and amortization
total $14,732 · program services $6,382 · management and general $8,350
-
23 · Insurance
total $11,793 · program services $11,793
-
24a · Other expenses: RETURN OF CONTRIBUTION
total $119,245 · program services $119,245
-
24b · Other expenses: DUES & SUBSCRIPTIONS
total $32,334 · program services $32,334
-
24c · Other expenses: CREDIT LOSS EXPENSES
total $29,850 · program services $29,850
-
24d · Other expenses: LOAN FEES
total $2,909 · program services $2,909
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $694,696 · end of year $414,534
-
2 · Savings and temporary cash investments
beginning of year $718,130 · end of year $812,969
-
3 · Pledges and grants receivable
beginning of year $90,778 · end of year $70,630
-
7 · Other notes and loans receivable
beginning of year $784,913 · end of year $824,556
-
9 · Prepaid expenses and deferred charges
beginning of year $10,300 · end of year $10,454
-
10a · Land, buildings and equipment: cost or other basis
$171,375
-
10b · Land, buildings and equipment: accumulated depreciation
$123,335
-
10c · Land, buildings and equipment, net
beginning of year $62,773 · end of year $48,040
-
17 · Accounts payable and accrued expenses
beginning of year $44,656 · end of year $34,630
-
18 · Grants payable
end of year $1,701
-
25 · Other liabilities
beginning of year $2,406 · end of year $0
-
27 · Net assets without donor restrictions
beginning of year $667,559 · end of year $601,763
-
28 · Net assets with donor restrictions
beginning of year $1,646,969 · end of year $1,543,089
Mission and programs · 2024
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 $404,243 · Revenue $8,930
-
INVOLVED IN COMMUNITY PROMOTION AND WORKFORCE PROMOTION
Expenses $134,747 · Revenue $63,130
-
INVOLVED IN NEW DEVELOPMENT, RE-DEVELOPMENT OR RENEWAL
Expenses $74,110 · Revenue $24,253
-
ENCOURAGING AND PROMOTING THE START-UP OF NEW COMPANIES
Expenses $6,073 · Revenue $24,253
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Tyler GlynnTYLER GLYNN
EXECUTIVE DIRECTOR
- Total calculated
- $124,769
- From this org
- $121,135
- From related orgs
- $0
- Other
- $3,634
- Hours/week
- 40
-
Michael O BjerknessMICHAEL O BJERKNESS
WORKFORCE DIRECTOR
- Total calculated
- $109,548
- From this org
- $106,357
- From related orgs
- $0
- Other
- $3,191
- Hours/week
- 40
-
Terry McFarlinTERRY MCFARLIN
PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
John OhlinJOHN OHLIN
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 0.5
-
Julie AnderholmJULIE ANDERHOLM
SECRETARY/TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Mike DillonMIKE DILLON
PAST PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Jim HaakonsonJIM HAAKONSON
PAST PRESIDENT
- Total calculated
- $0
- Hours/week
- 0.5
-
Tom HaglinTOM HAGLIN
PAST PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Hara CharlierHARA CHARLIER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Andy IsacksonANDY ISACKSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Sandy Zutz-WiczekSANDY ZUTZ-WICZEK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
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
- 2024
- Filed
- 12 November 2025
- IRS schema version
- 2024v5.2
- Source object
- 202533189349314233
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