2023-11-10T15:21:07-06:00 2022-12-31 410746749 CLIFTONLARSONALLEN LLP 14275 GOLF COURSE DRIVE STE 300 BAXTER MN 56425 990 2022-01-01 411543292 BRAINERD LAKES AREA DEVELOPMENT CORP BRAI 2188280096 224 WEST WASHINGTON STREET BRAINERD MN 56401 JIM HAAKONSON PRESIDENT 2188280096 2023-11-09 1 JIM HAAKONSON 999009999 0 JAMES A HAAKONSON CPA P00474248 2188280100 2023-11-09 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z BRAINERD LAKES AREA ECONOMIC DEVELOPMENT CORP JIM HAAKONSON 224 WEST WASHINGTON STREET BRAINERD MN 56401 594137 0 X WWW.GROWBRAINERDLAKES.ORG/ X 1985 MN GENERAL ECONOMIC DEVELOPMENT ACTIVITIES 9 9 4 15 0 0 380191 351250 94037 189450 743 39457 0 13702 474971 593859 0 0 0 0 331297 371100 0 0 0 159222 166934 490519 538034 -15548 55825 2329380 2443437 21113 79345 2308267 2364092 X ATTRACTING NEW INDUSTRY, RETAINING PRESENT INDUSTRY, AND GENERAL ECONOMIC DEVELOPMENT ACTIVITIES INCLUDING WORKFORCE DEVELOPMENT IN BRAINERD AND THE SURROUNDING AREA. 0 0 265536 0 14352 INVOLVED IN ATTRACTING NEW INDUSTRY AND RETAINING PRESENT INDUSTRY IN THE AREA. 95800 0 94400 INVOLVED IN COMMUNITY PROMOTION AND WORKFORCE PROMOTION 47900 0 47200 INVOLVED IN NEW DEVELOPMENT, RE-DEVELOPMENT OR RENEWAL 47900 0 47200 ENCOURAGING AND PROMOTING THE START-UP OF NEW COMPANIES 47900 0 47200 457136 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 4 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 0 1 1 1 0 MN X TYLER GLYNN 2188280096 224 WEST WASHINGTON STREET BRAINERD MN 56401 TOM HAGLIN PAST PRESIDENT 0.50 X X 0 0 0 MIKE LARSON PAST PRESIDENT 1.00 X X 0 0 0 MIKE DILLON PRESIDENT 1.00 X X 0 0 0 JIM HAAKONSON VICE PRESIDENT 1.00 X X 0 0 0 JANELLE RILEY DIRECTOR 0.50 X 0 0 0 JULIE ANDERHOLM SECRETARY/TREASURER 1.00 X X 0 0 0 KARLO GOERGES DIRECTOR 0.50 X 0 0 0 TERRY MCFARLIN DIRECTOR 0.50 X 0 0 0 JOHN OHLIN DIRECTOR 0.50 X 0 0 0 TYLER GLYNN EXECUTIVE DIRECTOR 40.00 X 108384 0 3154 108384 0 3154 1 0 0 0 0 140605 210645 351250 FEES FOR SERVICE 900099 189450 189450 189450 39735 39735 278 -278 -278 -278 MISCELLANEOUS INCOME 900099 13702 13702 13702 593859 203152 0 39457 111538 111538 225407 187570 37837 11276 10269 1007 22879 20310 2569 22952 92 22860 31286 31286 10291 9188 1103 12508 11360 1148 20876 20876 11562 9069 2493 14852 6501 8351 13457 13457 DUES & PUBLICATIONS 24220 22432 1788 LOAN FEES 3188 3188 BANK EXPENSE 1457 1457 285 285 538034 457136 80898 0 623061 856982 817225 820106 89464 138022 704684 549069 10833 10274 170794 101810 84113 68984 2329380 2443437 20113 75644 1000 3701 21113 79345 X 724483 770070 1583784 1594022 2308267 2364092 2329380 2443437 55825 0 X 1 X 0 1 0 X 390703 401140 482451 380191 351250 2005735 390703 401140 482451 380191 351250 2005735 69454 1936281 2543 5501 4179 2832 39735 54790 13702 13702 2074227 568997 0.93350 0.95880 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS INCOME - 2022 AMOUNT: $ 13,702. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 352313 1531 353844 349484 2829 352313 345459 4025 349484 339196 1000 5263 345459 336827 2369 339196 1.00000 0.00000 0.00000 0 0 123124 65981 57143 47670 35829 11841 68984 DUE TO OTHER ENTITIES 3701 3701 X PART V, LINE 4: ENDOWMENT ASSETS ARE TO BE USED FOR ECONOMIC DEVELOPMENT AND OTHER SPECIAL PROJECTS. PART X, LINE 2: THE ORGANIZATION IS A NONPROFIT ORGANIZATION AND IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE ORGANIZATION FILES IRS FORM 990 - RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX ON AN ANNUAL BASIS. IF, UPON EXAMINATION, THE IRS DETERMINES THAT THE ORGANIZATION IS SUBJECT TO INCOME TAX, THE INCOME TAX LIABILITY AND RELATED INTEREST AND PENALTIES ARE RECORDED AT THE TIME OF ASSESSMENT. DURING THE YEARS 2022 AND 2021, NO SUCH ASSESSMENTS WERE MADE. THE ORGANIZATION HAS RECEIVED A DETERMINATION NOTICE FROM THE INTERNAL REVENUE SERVICE THAT CONTRIBUTIONS TO THE ORGANIZATION ARE TAX DEDUCTIBLE. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE IS COMPRISED OF THE PRESIDENT, VICE PRESIDENT, AND SECRETARY/TREASURER. THE PAST PRESIDENT SERVES AS AN EX-OFFICIO MEMBER OF THE COMMITTEE. THE COMMITTEE HAS THE AUTHORITY OF THE BOARD OF DIRECTORS IN THE MANAGEMENT OF THE ORGANIZATION, BUT MAY ONLY ACT IN THE INTERVAL BETWEEN MEETINGS OF THE BOARD AND ITS ACTIONS MUST BE RATIFIED BY THE BOARD AT ITS NEXT REGULAR MEETING. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION IS ORGANIZED AS A CORPORATION WITH NINE MEMBERSHIP CATEGORIES: INDIVIDUAL, BASIC, SUPPORTER, PARTNER, AFFILIATE, STRATEGIC, EXECUTIVE, PATRON, AND CHARTER. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS IS ELECTED BY THE MEMBERS FROM AMONG THE MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B AMENDMENTS TO THE ORGANIZATION'S GOVERNING DOCUMENTS ARE SUBJECT TO THE POWER OF ACTIVE MEMBERS PRESENT AT ANY ANNUAL MEETING OR SPECIAL MEETING CALLED FOR SUCH TO REJECT SUCH AMENDMENT. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PRESENTED FOR REVIEW BY THE EXECUTIVE DIRECTOR, THE SIGNING OFFICER AND/OR THE TREASURER OF THE ORGANIZATION BEFORE FILING THE RETURN WITH THE IRS. BEFORE FILING THE FORM, A COPY OF THE FORM 990 RETURN IS ALSO MADE AVAILABLE TO THE GOVERNING BODY ELECTRONICALLY FOR INSPECTION, REVIEW, AND COMMENT. FORM 990, PART VI, SECTION B, LINE 12C ANY BOARD OF DIRECTORS WHO HAVE DIRECT INVOLVEMENT WITH AN APPLICANT, PROJECT, OR REQUEST, OR WITH PERSONAL OR FINANCIAL INTEREST IN ANY PROPOSAL WILL BE REQUIRED TO MAKE KNOWN SUCH INTEREST OR INVOLVEMENT. THE BOARD OF DIRECTORS WILL THEN DETERMINE ON A CASE BY CASE BASIS WHETHER OR NOT THERE IS A SUFFICIENT CONFLICT OF INTEREST TO WARRANT EXCLUSION FROM DISCUSSING OR VOTING ANY MATTERS CONCERNING THAT PROPOSAL OR PROJECT. IF THE BOARD PRESIDENT HAS A CONFLICT, THE VICE PRESIDENT WILL PRESIDE OVER THAT PORTION OF THE MEETING. ALL BOARD OF DIRECTOR DISCUSSIONS AND RESOLUTIONS ON CONFLICTS OF INTEREST WILL BE DOCUMENTED IN THE MEETING MINUTES. FORM 990, PART VI, SECTION B, LINE 15 ANNUALLY, THE EXECUTIVE DIRECTOR COMPLETES A SELF-EVALUATION. THE PERSONNEL COMMITTEE, WHICH IS INDEPENDENT OF THE EXECUTIVE DIRECTOR, THEN CONDUCTS A PERFORMANCE REVIEW OF THE EXECUTIVE DIRECTOR (AND MAY SURVEY THE BOARD OF DIRECTORS FOR ADDITIONAL INPUT). THE PERSONNEL COMMITTEE USES COMPARABLE SALARY AND BENEFITS DATA IN THEIR PERFORMANCE REVIEW AND FOR SETTING FUTURE EXECUTIVE DIRECTOR SALARY. ALL STEPS CONDUCTED BY THE PERSONNEL COMMITTEE ARE DOCUMENTED IN THEIR MEETING MINUTES. JANUARY 2022 WAS THE LAST TIME THE EXECUTIVE DIRECTOR'S SALARY WAS REVIEWED. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2022 FORM 990, PART VI, SECTION C, LINE 19 THE PUBLIC MAY REQUEST TO VIEW THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS DURING REGULAR BUSINESS HOURS AT THE ORGANIZATION'S PLACE OF BUSINESS. FORM 990, PART X, LINE 28, COLUMN B THE ORGANIZATION HOLDS POOLED MONIES HELD BY AREA LOCAL GOVERNMENTS AND OTHER NON-PROFIT ORGANIZATIONS. THESE FUNDS ARE RESTRICTED FOR USE BY THE ORGANIZATION SOLELY FOR PROVIDING ECONOMIC DEVELOPMENT LOANS TO LOCAL AND REGIONAL BUSINESSES.