Munich Area Development Corp

Nonprofit profile at a glance

EIN
363364172
IRS 990 coverage
2019–2024
Forms available
Form 990 2024, Form 990-N 2018
Location
Munich, ND, USA
Phone
7016825517
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$290,391
Expenses
$171,191
Assets
$1,119,228
Liabilities
$226,868

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • GALEN FETSCH (PRESIDENT (CURRENT))
  • RICHARD ZIMMER (PRESIDENT (PAST))
  • BRIAN HOFFMAN (VICE PRESIDENT)

People named in this filing

  • GALEN FETSCH (PRESIDENT (CURRENT))
  • RICHARD ZIMMER (PRESIDENT (PAST))
  • BRIAN HOFFMAN (VICE PRESIDENT)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The entity operates a low-income apartment complex and operates video gaming machines with the proceeds used for various civic needs in munich nd and neighboring communities.

What it reported doing in 2024

Organization provides low-income housing and provides grants to various local civic organizations.

Operating model

Revenue model
Other-operating. 96% of the money available for current operations came from other operating revenue.
Distribution model
Grant intermediary. The nonprofit sent 96% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 78
  • Accountability: 70
  • Sustainability: 77
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 60.7%; rating input score 61
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 13th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 68.4%; rating input score 68; 45th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • 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: 41%; rating input score 88; 88th percentile among comparable filings
  • Total-asset coverage ratio: 6.54; rating input score 84; 84th percentile among comparable filings
  • Liabilities to assets ratio: 0.2; rating input score 20; 20th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 25% per year; rating input score 100; 88th percentile among comparable filings
  • Revenue growth: 2.1% per year; rating input score 100; 35th percentile among comparable filings
  • Asset growth: 14.8% per year; rating input score 100; 77th percentile among comparable filings

Details

  • Where the money goes: 60.7% of revenue deployed · 100% of spending went to programs
  • Governance: 6 of 6 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $171K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 14 of 15 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 5 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: 5 filed related-organization links
  • 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.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 20/100.