Blackduck Development Corporation
Nonprofit profile at a glance
- EIN
- 800131161
- IRS 990-EZ coverage
- 2024–2025
- Forms available
- Form 990-EZ 2025
- Location
- Blackduck, MN, USA
- Phone
- 2187669465
- Rating
- 68
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Economic Development
Reported finances
- Revenue
- $69,743
- Expenses
- $79,364
- Assets
- $407,893
- Liabilities
- $5,647
Source: IRS Form 990-EZ. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
10 people listed
Executive titles in this filing
- DARYL LUNDBERG (PRESIDENT)
People named in this filing
- DARYL LUNDBERG (PRESIDENT)
- JASON BRODINA (VICE PRESIDE)
- CHRISTINA REGAS (SECRETARY)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Blackduck development corporation connects people and resources, and drives ideas and investments that develop vibrant businesses and a strong community.
What it reported doing in 2025
Economic development, education, community organizing, and real estate development of the blackduck region.
Operating model
- Revenue model
- Earned-program. 96% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
SUPPORTED - The filed numbers largely add up and program spending has grown recently. A relatively small share of total spending goes to programs and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 59
- Transparency & Controls: 82
- Sustainability: 41
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 60.8%; rating input score 61
- Program expense ratio: 55.4%; rating input score 55
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
- Major donor itemization: Limited
Sustainability
- Operating margin: -13.8%; rating input score 26; 26th percentile among comparable filings
- Total-asset coverage ratio: 5.14; rating input score 84; 84th percentile among comparable filings
- Liabilities to assets ratio: 0.01; rating input score 24; 24th percentile among comparable filings
- Officer compensation ratio: 20.9%; rating input score 8; 8th percentile among comparable filings
Growth
- Program expense growth: 46.8% per year; rating input score 100; 91st percentile among comparable filings
- Revenue growth: 51.1% per year; rating input score 100; 97th percentile among comparable filings
- Asset growth: -2.8% per year; rating input score 0; 29th percentile among comparable filings
Details
- Where the money goes: 60.8% of revenue deployed · 55.4% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $44K in reported program spending
- Leadership: top reported pay $0 · 10 people listed
- Consistency: 8 of 8 current checks pass
- Schedules: 2 filed schedules
- Filing history: 2 filing years from 2024 to 2025
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Review — Financial Efficiency: Program expense ratio scored 55/100.
- High — Sustainability: Operating margin scored 26/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Officer compensation ratio scored 8/100.
- High — Sustainability: Liabilities to assets ratio scored 24/100.