Is it real?
Yes. Exemption reinstated (2014-05-15). Per the IRS revocation list. Latest filing on record: FY2024. IRS ruling in Feb 2016.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
100 cents of each dollar spent went to programs.
Form 990 Part IX, line 25. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
4 people listed on the 990.
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
Provides loans and financial aid to businesses needing help to grow.
Questions for Two Harbors Development Fund INC
Your first name shows with your question. Two Harbors Development Fund INC answers here, for everyone.
Legal and professional fees and miscellaneous expenses related to collecting interest income on loans provided to businesses in conjunction with promoting the economic development within and surrounding the city of two harbors.
Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 45-2892768) · Dispute this lineBy the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $369K | $475K |
| Total assetsLn 16 | $902K | $926K |
| LiabilitiesLn 26 | $0 | $0 |
| Net assetsLn 32 | $902K | $926K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Legal feesLn 11b | $3K | $3K | ||
| Accounting feesLn 11c | $5K | $5K | ||
| Other fees for servicesLn 11g | $120 | $120 | ||
| Total functional expensesLn 25 | $8K | $8K | $0 | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest ViewingFiled with the IRS Nov 13, 2025 | $32K | $8K | $24K | $926K | 990 PDF |
| FY2023Filed with the IRS Aug 15, 2024 | $17K | $22K | −$5K | $902K | 990 PDF |
| FY2022Filed with the IRS Nov 7, 2023 | $10K | $5K | $4K | $907K | 990 PDF |
| FY2021Filed with the IRS May 17, 2022 | $44K | $8K | $35K | $756K | 990 PDF |
| FY2020Filed with the IRS May 17, 2021 | $25K | $16K | $9K | $721K | 990 PDF |
Schedules filed Part IV
See the full FY2024 990
Part I · Summary $32,424 revenue, 12 lines filed
Part VI · Governance 4 of 4 board members independent, 3 to look at
Part VIII · Statement of revenue $32,424 across 2 lines filed
Part IX · Statement of functional expenses $8,413 across 3 lines filed
Part X · Balance sheet $926,453 assets, 7 lines filed
Part XI · Reconciliation of net assets $926,453 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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