Minot Area Development Corporation

Nonprofit profile at a glance

EIN
456015977
IRS 990 coverage
2010–2021
Forms available
Form 990 2021
Location
Minot, ND, USA
Phone
7018521075
Rating confidence
Limited
Sector
Community, Neighborhood Development

Reported finances

Revenue
$0
Expenses
$0
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

14 people listed

Executive titles in this filing

  • JOHN MACMARTIN (PRESIDENT/CEO)

People named in this filing

  • RANDY HAUCK (CHAIRMAN)
  • JONN KNECHT (VICE CHAIRMAN)
  • RYAN ACKERMAN (SECRETARY/REASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2021. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To facilitate the retention, expansion, start-up and relocation of primary sector businesses in the minot area to diversify and grow the region's economy.

What it reported doing in 2021

The minot area development corporation (madc) is committed to successfully growing the economy in the minot area. Together with the support of our investors, the city of minot, ward county, and the state of North Dakota, madc strives to increase employment and provide continued economic stability for the area. Through the successful recruitment, retention, and/or expansion of many businesses, new jobs have come to the minot trade area. These new jobs create new wealth that flows down through our entire community, thus promising a more prosperous future for all minot residents.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 81
  • Accountability: 76
  • Sustainability: NotEnoughData
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 13th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: Limited
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: Limited
  • Revenue growth: -4.8% per year; rating input score 0; 48th percentile among comparable filings
  • Asset growth: 6.5% per year; rating input score 100; 71st percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 13 of 13 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 14 people listed
  • Consistency: 7 of 8 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules
  • Filing history: 12 filing years from 2010 to 2021
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • Moderate — Transparency & Controls: Series filing activity did not reconcile in the filed values.
  • High — Growth: Revenue growth scored 0/100.