Totals
- Total revenue
- $2,380
- Total expenses
- $19,328
- Contributions and grants received
- $0
- Grants paid
- $15,100
- Program service revenue
- $92
- Investment income
- $2,288
- Other revenue
- $0
- Total assets, end of year
- $1,055,691
- Total liabilities, end of year
- $400,000
- Net assets or fund balances, end of year
- $655,691
- Program services expenses (Part IX)
- $17,501
- Management and general expenses
- $1,827
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $17,501
Program services were 90.5% 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.
-
2a · Program service revenue: LOAN INTEREST
total $92 · related or exempt $92
-
3 · Investment income
total $2,288 · excluded $2,288
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $15,100 · program services $15,100
-
11c · Fees: accounting
total $1,125 · management and general $1,125
-
23 · Insurance
total $250 · program services $250
-
24a · Other expenses: REAL ESTATE TAX
total $2,807 · program services $2,105 · management and general $702
-
24b · Other expenses: FEES
total $46 · program services $46
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $164,274 · end of year $18,998
-
2 · Savings and temporary cash investments
beginning of year $91,361 · end of year $93,124
-
7 · Other notes and loans receivable
beginning of year $287,015 · end of year $313,034
-
10a · Land, buildings and equipment: cost or other basis
$630,535
-
10c · Land, buildings and equipment, net
beginning of year $129,989 · end of year $630,535
-
23 · Secured mortgages and notes payable
end of year $400,000
-
31 · Retained earnings, endowment or other funds
beginning of year $672,639 · end of year $655,691
Mission and programs · 2024
Mission
PROVIDE FUNDING FOR THE ECONOMIC DEVELOPMENT OF APPLETON, MN AND SURROUNDING AREA.
-
THE ORGANIZATION MADE LOANS TO VARIOUS ORGANIZATIONS FOR THE ECONOMIC DEVELOPMENT OF APPLETON, MN AND THE SURROUNDING AREA.
Expenses $17,501 · Grants $15,100 · Revenue $92
As filed on the 2024 return.
Listed in Part VII
-
Mitch GerdesMITCH GERDES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Eddie MasseeEDDIE MASSEE
PRESIDENT/TR
- Total calculated
- $0
- Hours/week
- 1
-
Jill SwensonJILL SWENSON
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Fletcher SyltieFLETCHER SYLTIE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Cory ThorslandCORY THORSLAND
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Matt TollefsonMATT TOLLEFSON
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
-
$15,100
COMMUNITY DEVELOP
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 22 October 2025
- IRS schema version
- 2024v5.0
- Source object
- 202513079349302506
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