Greater Fargo Moorhead Economic Development Corporation

Analysis

Greater Fargo Moorhead Economic Development Corporation is a registered charity in United States, based in Fargo, ND. It received its IRS tax-exemption ruling in May 2006, 20 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Greater Fargo Moorhead Economic Development Corporation reported income of $2.0m and spending of $2.1m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.7m to $2.0m (+21%), an average of +4.8% a year. The sharpest change came in the year to December 2022, when income rose by 27%. Over the whole period it spent 97% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Greater Fargo Moorhead Economic Development Corporation sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 85th percentile within ND. Charities of a similar size with the same main cause include Starlight Enterprises Inc ($2.0m), Associated Builders & Contractors Merit Shop Training Program Inc ($2.0m) and Coshocton Foundation ($2.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% and program service revenue 2.0% of the total. Compensation of current officers, directors and key employees was $258k (13% of expenses). Other salaries and wages came to $714k. At year end it held assets of $2.3m against liabilities of $712k, net assets of $1.5m. It reported 9 employees.