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Nonprofiteer
← BRAINERD LAKES AREA DEVELOPMENT CORPORATION

Form 990 for tax year 2022

Filed by BRAINERD LAKES AREA DEVELOPMENT CORPORATION.

Totals

Total revenue
$593,859
Total expenses
$538,034
Contributions and grants received
$351,250
Grants paid
$0
Program service revenue
$189,450
Investment income
$39,457
Other revenue
$13,702
Total assets, end of year
$2,443,437
Total liabilities, end of year
$79,345
Net assets or fund balances, end of year
$2,364,092
Program services expenses (Part IX)
$457,136
Management and general expenses
$80,898
Fundraising expenses
$0
Program service expenses (Part III)
$457,136

Program services were 85.0% 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

    $140,605

  • 1e · Government grants (contributions)

    $210,645

  • 2a · Program service revenue: FEES FOR SERVICE

    total $189,450 · related or exempt $189,450

  • 3 · Investment income

    total $39,735 · excluded $39,735

  • 7b · Less cost or other basis and sales expenses

    other assets $278

  • 7c · Gain or loss

    other assets -$278

  • 7d · Net gain or loss

    total -$278 · excluded -$278

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $13,702 · related or exempt $13,702

  • 11e · Other revenue, total

    $13,702

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $111,538 · program services $111,538

  • 7 · Other salaries and wages

    total $225,407 · program services $187,570 · management and general $37,837

  • 8 · Pension plan contributions

    total $11,276 · program services $10,269 · management and general $1,007

  • 10 · Payroll taxes

    total $22,879 · program services $20,310 · management and general $2,569

  • 11c · Fees: accounting

    total $22,952 · program services $92 · management and general $22,860

  • 12 · Advertising and promotion

    total $31,286 · program services $31,286

  • 13 · Office expenses

    total $10,291 · program services $9,188 · management and general $1,103

  • 14 · Information technology

    total $12,508 · program services $11,360 · management and general $1,148

  • 16 · Occupancy

    total $20,876 · program services $20,876

  • 19 · Conferences, conventions and meetings

    total $11,562 · program services $9,069 · management and general $2,493

  • 22 · Depreciation, depletion and amortization

    total $14,852 · program services $6,501 · management and general $8,351

  • 23 · Insurance

    total $13,457 · program services $13,457

  • 24a · Other expenses: DUES & PUBLICATIONS

    total $24,220 · program services $22,432 · management and general $1,788

  • 24b · Other expenses: LOAN FEES

    total $3,188 · program services $3,188

  • 24c · Other expenses: BANK EXPENSE

    total $1,457 · management and general $1,457

  • 24e · All other expenses

    total $285 · management and general $285

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $623,061 · end of year $856,982

  • 2 · Savings and temporary cash investments

    beginning of year $817,225 · end of year $820,106

  • 3 · Pledges and grants receivable

    beginning of year $89,464 · end of year $138,022

  • 7 · Other notes and loans receivable

    beginning of year $704,684 · end of year $549,069

  • 9 · Prepaid expenses and deferred charges

    beginning of year $10,833 · end of year $10,274

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

    $170,794

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

    $101,810

  • 10c · Land, buildings and equipment, net

    beginning of year $84,113 · end of year $68,984

  • 17 · Accounts payable and accrued expenses

    beginning of year $20,113 · end of year $75,644

  • 25 · Other liabilities

    beginning of year $1,000 · end of year $3,701

  • 27 · Net assets without donor restrictions

    beginning of year $724,483 · end of year $770,070

  • 28 · Net assets with donor restrictions

    beginning of year $1,583,784 · end of year $1,594,022

Mission and programs · 2022

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 $265,536 · Revenue $14,352

  • INVOLVED IN COMMUNITY PROMOTION AND WORKFORCE PROMOTION

    Expenses $95,800 · Revenue $94,400

  • INVOLVED IN NEW DEVELOPMENT, RE-DEVELOPMENT OR RENEWAL

    Expenses $47,900 · Revenue $47,200

  • ENCOURAGING AND PROMOTING THE START-UP OF NEW COMPANIES

    Expenses $47,900 · Revenue $47,200

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • TOM HAGLIN

    PAST PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5

  • MIKE LARSON

    PAST PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • MIKE DILLON

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • JIM HAAKONSON

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • JANELLE RILEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • JULIE ANDERHOLM

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    1

  • KARLO GOERGES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • TERRY MCFARLIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • JOHN OHLIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • TYLER GLYNN

    EXECUTIVE DIRECTOR

    Total calculated
    $111,538
    From this org
    $108,384
    From related orgs
    $0
    Other
    $3,154
    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
2022
Filed
9 November 2023
IRS schema version
2022v5.0
Source object
202333149349304918

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