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Bemidji Development Corporation

Not tax-deductible

Bemidji, MN501(c)(6)EIN 41-6027208Revenue $64K in FY2025

On file with the IRSPo Box 1276, 56619-1276 · Bemidji, MNTax-exempt since Jan 1964

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Industrial Development in the city of Bemidji.

Mission: Form 990 Part I, line 1

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FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
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
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $24K a year · 72% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Cash reserves
2255 mo
of spending, in cash
Looks good: 2254.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$64K
-6% vs prior year
Spent
$9K
Net assets
$2.0M
By yearFY2020–FY2025
Revenue
$64K
FY2025▼ -6%
Tap a bar for its year
Revenue by fiscal year
FY2020$23K
FY2021$18K
FY2022$10K
FY2023$17K
FY2024$68K
FY2025$64K
Expenses
$9K
FY2025▼ -11%
Tap a bar for its year
Expenses by fiscal year
FY2020$14K
FY2021$8K
FY2022$8K
FY2023$8K
FY2024$10K
FY2025$9K
Net assets
$2.0M
FY2025▲ +3%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.9M
FY2021$1.9M
FY2022$1.9M
FY2023$1.9M
FY2024$2.0M
FY2025$2.0M

From the FY2025 Form 990 (year ending July 2025) · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jan 1964.

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

Who runs it and what they're paid

11 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Dave Landgrebe
Board Member
$0Pt VII · Sec A
Jim Naylor
Vice Pres/Sec
$0Pt VII · Sec A
Mark Dickinson
Board Member
$0Pt VII · Sec A
Mike Karvakko
Board Member
$0Pt VII · Sec A
Bill Batchelder
Board Member
$0Pt VII · Sec A
Ryan Welle
President
$0Pt VII · Sec A
Keith Johanneson
Board Member
$0Pt VII · Sec A
Ryan Baer
Board Member
$0Pt VII · Sec A
See Bemidji Development Corporation executive salaries →

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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 industrial growth and economic development within Bemidji.

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1 program · in their own filed words · FY2024
01

Industrial development in the city of bemidji, MN.

Pt IX · col B

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$64K
Ln 12
Investment incomeLn 3$64K
Money outPt IX
$9K
Ln 25
Owns and owesPt X
$2.0M
net assets · Ln 32
Cash and savingsLn 1–2$1.6M
Total assetsLn 16$2.0M
LiabilitiesLn 26$0
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$64K
Total revenueLn 12$64K
Assets in detailPt X, end of year
CashLn 1$49K
SavingsLn 2$1.6M
Cash and savings togetherLn 1–2$1.6M
Other assetsLn 15$421K
Total assetsLn 16$2.0M
LiabilitiesLn 26$0
Net assetsLn 32$2.0M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJuly
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
LineStart FY25End FY25
Cash and savingsLn 1–2$1.6M$1.6M
Total assetsLn 16$2.0M$2.0M
LiabilitiesLn 26$0$0
Net assetsLn 32$2.0M$2.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$825
Office expensesLn 13$1K
InsuranceLn 23$2K
Other expenses (24a–d)Ln 24$4K
Total functional expensesLn 25$9K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $64K$9K$55K$2.0M 990 PDF
FY2024 $68K$10K$58K$2.0M 990 PDF
FY2023 $17K$8K$8K$1.9M 990 PDF
FY2022 $10K$8K$2K$1.9M 990 PDF
FY2021 $18K$8K$10K$1.9M 990 PDF
FY2020 $23K$14K$9K$1.9M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2025 990 (6 parts)
Part I · Summary $64,016 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $68,006$64,016
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $68,006$64,016
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 $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $9,642$8,602
I-18 Total expensesPrior year $9,642$8,602
I-19 Revenue less expensesPrior year $58,364$55,414
Part VI · Governance 11 of 11 board members independent, 3 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
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
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $64,016 across 2 lines filed
VIII-3 Investment incomeRelated to mission $64,016$64,016
VIII-12 Total revenueRelated to mission $64,016 · Unrelated business $0 · Excluded from tax $0$64,016
Part IX · Statement of functional expenses $8,602 across 4 lines filed
IX-11c Accounting fees$825
IX-13 Office expenses$1,430
IX-23 Insurance$2,082
IX-24 Other expenses (24a–d)$4,265
IX-25 Total functional expenses$8,602
Part X · Balance sheet $2,036,955 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $63,827$48,733
X-2 Savings and temporary cash investmentsStart of year $1,497,063$1,567,571
X-15 Other assetsStart of year $420,651$420,651
X-16 Total assetsStart of year $1,981,541$2,036,955
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $1,981,541$2,036,955
X-33 Total liabilities and net assetsStart of year $1,981,541$2,036,955
Part XI · Reconciliation of net assets $2,036,955 net assets at year end
XI-1 Total revenue$64,016
XI-2 Total expenses$8,602
XI-3 Revenue less expenses$55,414
XI-4 Net assets at start of year$1,981,541
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,036,955

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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