Vadnais Heights Economic Dev Corp: FY2022 Nonprofit Profile & Form 990 (EIN 41-1524569)

Revenue by fiscal year
FY2020	$94K
FY2021	$155K
FY2022	$113K
FY2023	$106K
FY2024	$128K

Expenses by fiscal year
FY2020	$92K
FY2021	$139K
FY2022	$93K
FY2023	$103K
FY2024	$112K

Net assets by fiscal year
FY2020	$50K
FY2021	$66K
FY2022	$86K
FY2023	$89K
FY2024	$105K

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 1992.

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

Where the money goes

97 cents of each dollar spent went to programs.

97%

Program services 97% · $91K Management & general 3% · $2K

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

21 people listed on the 990; $64K paid to officers and key staff (Part VII, Section A).

Part VII, Section A · reportable compensation

Liz Moscatelli

Executive Director

$63,600Pt VII · Sec A

Kyle Sommer

Vice President

$0Pt VII · Sec A

Brian Deuel

Treasurer

$0Pt VII · Sec A

Joy Vander Heiden

Secretary

$0Pt VII · Sec A

Mary Buerkle-Grant

Director

$0Pt VII · Sec A

Katie Swenson

Director

$0Pt VII · Sec A

Joe Erickson

Director

$0Pt VII · Sec A

Jill Funck

Director

$0Pt VII · Sec A

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

Name	FY2024	FY2023	FY2022	FY2021	FY2020
Liz Moscatelli	$66,600	$66,600	$63,600	$61,800	$60,000

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 Vadnais Heights Economic Dev Corp 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 15aYes

Programs and updates

Boosts local businesses and industries to grow the economy.

Questions for Vadnais Heights Economic Dev Corp

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1 program · $91K · in their own filed words · FY2022

01

The vhedc is a private, non-profit organization established to further economic development in the city of vadnais heights and the northeast metro area. Unlike most economic development agencies, the vhedc is independent of any governmental entity.

$91Kprogram 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 · FY2021

Metropolitan Consortium of Community DevelopersFY2021$10K

Total grants receivedfrom 1 funder$10K

By the numbers

The FY2022 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$113K

Ln 12

Gifts and grantsLn 1h$61K

Fees for servicesLn 2g$44K

Other incomeLn 4–11$8K

Money outPt IX

$93K

Ln 25

Programscol B$91K

Managementcol C$2K

Owns and owesPt X

$86K

net assets · Ln 32

Cash and savingsLn 1–2$86K

Total assetsLn 16$86K

LiabilitiesLn 26$0

PeoplePt VI, VII

21

listed · VII A

PaidVII A1

Voting boardVI 1a20

IndependentVI 1b20

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$61K

Government grantsLn 1e$40K

Fundraising eventsLn 1c$21K

Fees for servicesLn 2g$44K

Investment incomeLn 3$9

Other incomeLn 4–11$8K

Total revenueLn 12$113K

Assets in detailPt X, end of year

CashLn 1$53K

SavingsLn 2$33K

Cash and savings togetherLn 1–2$86K

Total assetsLn 16$86K

LiabilitiesLn 26$0

Net assetsLn 32$86K

OperationsPt I, VI

EmployeesI 51

VolunteersI 630

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13No

Records policyVI 14No

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY22	End FY22
Cash and savingsLn 1–2	$66K	$86K
Total assetsLn 16	$66K	$86K
LiabilitiesLn 26	$0	$0
Net assetsLn 32	$66K	$86K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Pay of officers and key staff (Part IX, line 5)Ln 5	$64K	$64K
Accounting feesLn 11c	$2K		$2K
Information technologyLn 14	$3K	$3K
Conferences, conventions and meetingsLn 19	$33		$33
InsuranceLn 23	$1K	$1K
Other expenses (24a–d)Ln 24	$24K	$23K	$600
All other expensesLn 24e	$145		$145
Total functional expensesLn 25	$93K	$91K	$2K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 LatestFiled with the IRS Nov 3, 2025	$128K	$112K	$17K	$105K	990 PDF
FY2023Filed with the IRS Oct 9, 2024	$106K	$103K	$3K	$89K	990 PDF
FY2022 ViewingFiled with the IRS Jun 27, 2023	$113K	$93K	$19K	$86K	990 PDF
FY2021Filed with the IRS May 12, 2022	$155K	$139K	$16K	$66K	990 PDF
FY2020Filed with the IRS May 25, 2021	$94K	$92K	$1K	$50K	990 PDF

Schedules filed Part IV

A · Public support I · Grants O · Explanations

See the full FY2022 990

Part I · Summary $112,741 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $111,442$61,174

I-9 Program service revenuePrior year $39,797$43,539

I-10 Investment incomePrior year $14$9

I-11 Other revenuePrior year $3,722$8,019

I-12 Total revenuePrior year $154,975$112,741

I-13 Grants and similar amounts paidPrior year $0$0

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $61,800$63,600

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $77,392$29,674

I-18 Total expensesPrior year $139,192$93,274

I-19 Revenue less expensesPrior year $15,783$19,467

Part VI · Governance 20 of 20 board members independent, 2 to look at

VI-1a Voting members of the governing body20

VI-1b Independent voting members20

VI-13 Written whistleblower policyNo

VI-14 Document retention and destruction policyNo

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $112,741 across 7 lines filed

VIII-1c Fundraising events$20,879

VIII-1e Government grants$40,295

VIII-1h Total contributions, gifts and grants$61,174

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $35,919 · Unrelated business $7,620$43,539

VIII-3 Investment incomeExcluded from tax $9$9

VIII-8 Net income from fundraising eventsExcluded from tax $8,019$8,019

VIII-12 Total revenueRelated to mission $35,919 · Unrelated business $7,620 · Excluded from tax $8,028$112,741

Part IX · Statement of functional expenses $93,274 across 7 lines filed

IX-5 Pay of officers and key staff (Part IX, line 5)Programs $63,600$63,600

IX-11c Accounting feesManagement $1,689$1,689

IX-14 Information technologyPrograms $2,895$2,895

IX-19 Conferences, conventions and meetingsManagement $33$33

IX-23 InsurancePrograms $1,220$1,220

IX-24 Other expenses (24a–d)Programs $23,092 · Management $600$23,692

IX-24e All other expensesManagement $145$145

IX-25 Total functional expensesPrograms $90,807 · Management $2,467 · Fundraising $0$93,274

Part X · Balance sheet $85,539 assets, 9 lines filed

X-1 Cash, non-interest-bearingStart of year $33,262$52,721

X-2 Savings and temporary cash investmentsStart of year $32,810$32,818

X-16 Total assetsStart of year $66,072$85,539

X-26 Total liabilitiesStart of year $0$0

X-29 Capital stock or trust principalStart of year $0$0

X-30 Paid-in or capital surplusStart of year $0$0

X-31 Retained earnings or endowmentStart of year $66,072$85,539

X-32 Total net assets or fund balancesStart of year $66,072$85,539

X-33 Total liabilities and net assetsStart of year $66,072$85,539

Part XI · Reconciliation of net assets $85,539 net assets at year end

XI-1 Total revenue$112,741

XI-2 Total expenses$93,274

XI-3 Revenue less expenses$19,467

XI-4 Net assets at start of year$66,072

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$85,539

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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Vadnais Heights Economic Dev Corp FY2022 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

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

Questions the 990 asks

Programs and updates

Questions for Vadnais Heights Economic Dev Corp

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV