Lake Agassiz Regional Development Corporation

Analysis

Lake Agassiz Regional Development Corporation is a registered charity in United States, based in Fargo, ND. It received its IRS tax-exemption ruling in April 1989, 37 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Lake Agassiz Regional Development Corporation reported income of $1.1m and spending of $1.1m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $937k to $1.1m (+16%), an average of +3.7% a year. The sharpest change came in the year to December 2021, when income rose by 20%. Over the whole period it spent 89% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lake Agassiz Regional Development Corporation sits at the 79th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 78th percentile within ND. Charities of a similar size with the same main cause include School Administrators of Montana ($1.1m), Boys & Girls Club of Syracuse ($1.1m) and Gi Go Fund Inc ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 16% and program service revenue 67% of the total. Compensation of current officers, directors and key employees was $147k (14% of expenses). Other salaries and wages came to $355k. At year end it held assets of $6.3m against liabilities of $2.5m, net assets of $3.8m. It reported 7 employees.