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Heartland Lakes Development Commission FY2020 filing

Tax-deductible

Park Rapids, MN501(c)(3)Community Development EIN 20-4208381Revenue $2.0M in FY2020Latest return filed Oct 20, 2025

On file with the IRSheartlandlakesdevelopment.org100 8th St E, 56470-1699 · Park Rapids, MNTax-exempt since Sep 2020Publicly supported charity — 170(b)(1)(A)(vi)

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Countywide economic Development

501(c)(3) charity; gifts are tax-deductible.
96¢ of each $1 spent went to programs.
$8K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $154K a year · 15% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
96%
of spending
Looks good: 96% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$8K
to officers and key staff · 0.4% of spending
Looks good: pay to officers and key staff is 0% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 1.8 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$15K
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.0M
Spent
$1.9M
To programs
96%
Net assets
$348K
By yearFY2020–FY2024
Revenue
$2.0M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$2.0M
FY2021$742K
FY2022$380K
FY2023$922K
FY2024$888K
Expenses
$1.9M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$1.9M
FY2021$568K
FY2022$351K
FY2023$589K
FY2024$753K
Net assets
$348K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$348K
FY2021$369K
FY2022$397K
FY2023$966K
FY2024$1.1M

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 2020.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

96 cents of each dollar spent went to programs.

Program services 96% · $1.9M Management & general 4% · $71K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

10 people listed on the 990; $8K paid to officers and key staff.

Part VII, Section A · reportable compensation
Mary Thompson
Executive Director
$7,500Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Ryan Leckner
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
David De La Hunt
Broadcasting
$0Pt VII · Sec A
Christine Fox
Electric Coop Manager
$0Pt VII · Sec A
Eric Wolff
Real Estate Broker
$0Pt VII · Sec A

Mary Thompson’s $93K as Executive Director is at the 68th percentile of top reported officer pay among 1708 $100K–1M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Mary Thompson$93,200$78,223$68,936$67,500$7,500

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Heartland Lakes Development Commission executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Promotes economic growth and opportunity across the entire county.

Questions for Heartland Lakes Development Commission

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Your first name shows with your question. Heartland Lakes Development Commission answers here, for everyone.

1 program · $1.9M · in their own filed words · FY2020
01

Economic development

$1.9Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Greater Minnesota Housing FundFY2024$10K
Total grants receivedfrom 1 funder$10K

Federal money

Single Audit · Federal Audit Clearinghouse · money spent from federal programs
Year ending Dec 2020 · $1.9M federal money spent
Coronavirus Relief FundDepartment of the Treasury · ALN 21.019 · Through Hubbard County and 9 more$1.9M

The auditor reported no findings.

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.0M
Ln 12
Gifts and grantsLn 1h$2.0M
Other incomeLn 4–11$6K
Investment incomeLn 3$123
Money outPt IX
$1.9M
Ln 25
Programscol B$1.9M
Managementcol C$71K
Owns and owesPt X
$348K
net assets · Ln 32
Cash and savingsLn 1–2$298K
Total assetsLn 16$364K
LiabilitiesLn 26$15K
PeoplePt VI, VII
10
listed · VII A
PaidVII A1
Voting boardVI 1a0
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.0M
Government grantsLn 1e$2.0M
Investment incomeLn 3$123
Other incomeLn 4–11$6K
Total revenueLn 12$2.0M
Assets in detailPt X, end of year
CashLn 1$180K
SavingsLn 2$118K
Cash and savings togetherLn 1–2$298K
Land, buildings, equipmentLn 10c$594
Total assetsLn 16$364K
LiabilitiesLn 26$15K
Net assetsLn 32$348K
OperationsPt I, VI
EmployeesI 52
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$80K$298K
Land, buildings, equipmentLn 10c$2K$594
Total assetsLn 16$164K$364K
LiabilitiesLn 26$59K$15K
Net assetsLn 32$105K$348K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$1.9M$1.9M
Pay of current officers, directors and key staffLn 5$8K$8K
Other employee benefitsLn 9$2K$2K
Payroll taxesLn 10$2K$2K
Management feesLn 11a$60K$60K
Accounting feesLn 11c$178$178
Other fees for servicesLn 11g$125$125
Advertising and promotionLn 12$500$500
Office expensesLn 13$2K$2K
Information technologyLn 14$7K$7K
Depreciation, depletion and amortizationLn 22$1K$1K
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$5K$5K
Total functional expensesLn 25$1.9M$1.9M$71K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 LatestFiled with the IRS Oct 20, 2025 $888K$753K$135K$1.1M 990 PDF
FY2023Filed with the IRS Oct 29, 2024 $922K$589K$334K$966K 990 PDF
FY2022Filed with the IRS Nov 14, 2023 $380K$351K$28K$397K 990 PDF
FY2021Filed with the IRS Nov 15, 2022 $742K$568K$174K$369K 990 PDF
FY2020 ViewingFiled with the IRS May 23, 2022 $2.0M$1.9M$99K$348K 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $2,038,493 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $145,500$2,032,609
I-9 Program service revenue$0
I-10 Investment income$123
I-11 Other revenuePrior year $1,561$5,761
I-12 Total revenuePrior year $147,061$2,038,493
I-13 Grants and similar amounts paidPrior year $600$1,852,148
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $4,525$10,653
I-16a Professional fundraising feesPrior year $80,879$0
I-17 Other expensesPrior year $15,229$77,100
I-18 Total expensesPrior year $101,233$1,939,901
I-19 Revenue less expensesPrior year $45,828$98,592
Part VI · Governance 4 to look at
VI-1a Voting members of the governing body0
VI-1b Independent voting members0
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $2,038,493 across 6 lines filed
Lines not itemized here account for $102 of total revenue; see the IRS return.
VIII-1e Government grants$2,011,609
VIII-1f All other contributions, gifts and grants$21,000
VIII-1h Total contributions, gifts and grants$2,032,609
VIII-3 Investment incomeRelated to mission $123$123
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)$5,659
VIII-12 Total revenueRelated to mission $123$2,038,493
Part IX · Statement of functional expenses $1,939,901 across 13 lines filed
IX-2 Grants to domestic individualsPrograms $1,852,148$1,852,148
IX-5 Pay of current officers, directors and key staffManagement $7,500$7,500
IX-9 Other employee benefitsManagement $1,505$1,505
IX-10 Payroll taxesManagement $1,648$1,648
IX-11a Management feesManagement $60,000$60,000
IX-11c Accounting feesPrograms $178$178
IX-11g Other fees for servicesPrograms $125$125
IX-12 Advertising and promotionPrograms $500$500
IX-13 Office expensesPrograms $1,602$1,602
IX-14 Information technologyPrograms $6,988$6,988
IX-22 Depreciation, depletion and amortizationPrograms $1,082$1,082
IX-23 InsurancePrograms $2,018$2,018
IX-24 Other expenses (24a–d)Programs $4,607$4,607
IX-25 Total functional expensesPrograms $1,869,248 · Management $70,653 · Fundraising $0$1,939,901
Part X · Balance sheet $363,518 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $80,158$180,180
X-2 Savings and temporary cash investments$118,039
X-4 Accounts receivableStart of year $82,000$64,083
X-9 Prepaid expenses and deferred charges$622
X-10c Land, buildings and equipment, netStart of year $1,676$594
X-16 Total assetsStart of year $163,834$363,518
X-17 Accounts payable and accrued expenses$5,327
X-19 Deferred revenue$10,000
X-26 Total liabilitiesStart of year $59,235$15,327
X-32 Total net assets or fund balancesStart of year $104,599$348,191
X-33 Total liabilities and net assetsStart of year $163,834$363,518
Part XI · Reconciliation of net assets $348,191 net assets at year end
XI-1 Total revenue$2,038,493
XI-2 Total expenses$1,939,901
XI-3 Revenue less expenses$98,592
XI-4 Net assets at start of year$104,599
XI-9 Other changes in net assets$145,000
XI-10 Net assets at end of year$348,191

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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