Munich Area Development Corporation

Munich, ND · Membership association

! Not tax-deductible
Revenue
$290K
+30% vs prior year
Spent
$171K
To programs
100%
Net assets
$892K
By yearFY2019–FY2024
Revenue
$290K
FY2024▲ +30%
Revenue by fiscal year
FY2019$86K
FY2020$484K
FY2021$273K
FY2022$200K
FY2023$224K
FY2024$290K
Expenses
$171K
FY2024▼ -12%
Expenses by fiscal year
FY2019$26K
FY2020$93K
FY2021$162K
FY2022$108K
FY2023$194K
FY2024$171K
Net assets
$892K
FY2024▲ +15%
Net assets by fiscal year
FY2019$150K
FY2020$540K
FY2021$651K
FY2022$743K
FY2023$773K
FY2024$892K

From the FY2024 Form 990 · see the original

Status and standing

Is it real, and can you give to it?

Tax-deductible?
No
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Legal name (IRS)Hdr · item CMunich Area Development Corporation
EINHdr · item D36-3364172
Exempt statusHdr · item I501(c)(4) · active
Ruling yearIRS BMFOct 1985
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CMunich, ND
NTEE classificationIRS BMFNonprofit

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $1.00
Program services100%$171K
Total functional expensesLn 25$171K

Financial health

Is it on solid ground?

Operating surplus
+41%
revenue over expenses▲ +205% vs prior filing year
Earned revenue
0%
of revenue from program services & dues
Payroll share
4%
of spending is salaries & benefits▲ +54% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Total assets
$1.1M
FY2024▲ +11%
Total assets by fiscal year
FY2019$402K
FY2020$788K
FY2021$894K
FY2022$981K
FY2023$1.0M
FY2024$1.1M
Total liabilities
$227K
FY2024▼ -3%
Total liabilities by fiscal year
FY2019$252K
FY2020$248K
FY2021$244K
FY2022$238K
FY2023$233K
FY2024$227K
Revenue less expensesPt I · Ln 19$119K
Total assetsPt X · Ln 16$1.1M
Program-expense ratioPt IX · col B100%
Voting members of governing bodyPt I · Ln 36
Independent voting membersPt I · Ln 46

Balance Sheet

Part X · end of year
CashLn 1$972K
Total assetsLn 16$1.1M
Total liabilitiesLn 26$227K
Total net assetsLn 32$892K
Months of cash on handcomputed68.1

Statement of Revenue

Part VIII
Other revenue$278K · 96%
Investment income$12K · 4%
Other revenue96%$278K
Investment income4%$12K
Total revenueLn 12$290K

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $972K · Operating expenses/yr $171K
68.1 months
Where the money goes
Program services
Program services $171K · Total expenses $171K
100%
Management & General
Management & general $0 · Total expenses $171K
0%
Fundraising
Fundraising $0 · Total expenses $171K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $0
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $0 · Total revenue $290K
0%
Government reliance
Government grants — · Total revenue $290K
—
Earned-income share
Program service revenue $0 · Total revenue $290K
0%
Investment reliance
Investment income $12K · Total revenue $290K
+4%
Program self-sufficiency
Program service revenue $0 · Total expenses $171K
0%
Growth & trend
Revenue growth (YoY)
This year $290K · Prior year $224K
+30%
Revenue CAGR
FY2019 $86K · FY2024 $290K
+28%
Net-asset trend (YoY)
End of year $892K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $290K · Expenses $171K
+41%
Liabilities-to-Assets
Total liabilities — · Total assets $1.1M
—
Net-asset ratio
Net assets $892K · Total assets $1.1M
80%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $1.1M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Galen Fetsch · Reported title PRESIDENT (CURRENT) · Highest reported compensation $0 · Total expenses $171K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $6K · Total expenses $171K
4%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 100%——
Overhead ratio 0%——
Revenue growth 30%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
President (current)
$0Pt VII · Sec A
President (past)
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Munich Area Development Corporation executive salaries →

Are you one of these people? Claim this org to confirm your role

Governance & Policies

Part VI
  • 6Voting board membersPt VI · Ln 1a
  • 6Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aNo
  • Whistleblower policyPt VI · Ln 13No
  • Document retention policyPt VI · Ln 14No
  • Top official’s pay independently reviewedPt VI · Ln 15aNo
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Provides affordable housing and uses gaming revenue for local community needs.

Provided by the organization

This section is blank until Munich Area Development Corporation claims this page.

Know this organization? Claim it to add your story

Mission & Programs · Part III

Where the work happens

1 program service account for $171K of program spending, described in the organization's own filed words · FY2024.
01

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

$171Kprogram expense

Run this program? Claim this org to tell your story

Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 30 grants · $498K · 2019–2024
Munich School DistrictFY2024$40,750
St John Fire DeptFY2024$30,000
Munich Community ImprovementFY2024$20,000
City of MunichFY2023$75,512
St John Fire DeptFY2023$20,000
Munich Community ImprovementFY2023$14,400
Munich Heritage Org LLCFY2023$7,500
St John Fire DeptFY2022$30,000
Munich Community ImprovementFY2022$18,500
Munich Rural Fire DistrictND · FY2021$20,000
St John Fire DeptFY2021$20,000
See all 30 grants →

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2024 Latest Viewing $290K$171K+30% 990 PDF
FY2023 $224K$194K+12% 990 PDF
FY2022 $200K$108K-27% 990 PDF
FY2021 $273K$162K-44% 990 PDF
FY2020 $484K$93K+464% 990 PDF
FY2019 $86K$26K 990 PDF

Want to add your own materials alongside these filings? Claim this org

Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

Similar organizations you could support

Closest in mission — by what they do
See all organizations like Munich Area Development Corporation →

Run this organization? Claim this page

Compare

Search another nonprofit to view revenue, expenses, assets, key metrics, and leaders side by side

Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

Keep this kind of thing free
Keep public charity data easy to read.

Free to the public, because obviously. Like this? Pay it forward. Don't like this? Help us get better.

Card, Apple Pay or Google Pay through Stripe. One time.
Keep this kind of thing free
Keep public charity data easy to read.

Free to the public, because obviously. Like this? Pay it forward. Don't like this? Help us get better.

Card, Apple Pay or Google Pay through Stripe. One time.

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the peer-cohort and compensation comparisons above.