EIN 45-6015977

Minot Area Development Corporation (MADC)

IRS 501(c) type
501(c)(6)
Num. employees
7
City
Minot
Year formed
1959
Most recent tax filings
2019-12
Description
The mission of the Minot Area Development Corporation is to facilitate the retention, expansion, start-up and relocation of primary sector businesses and to recruit workforce to the Minot area to diversify and grow the region's economy.

Program areas at MADC

The Minot Area Development Corporation (MADC) is committed to successfully growing the economy in the Minot area. Together with the support of our investors, the City of Minot, Ward County, and the state of North Dakota, MADC strives to increase employment and provide continued economic stability for the area. Through the successful recruitment, retention, and/or expansion of many businesses, new jobs have come to the Minot trade area. These new jobs create new wealth that flows down through our entire community, thus promising a more prosperous future for all Minot residents.

Form 990s for MADC

Fiscal year endingDate received by IRSFormPDF link
2018-122019-11-16990View PDF
2017-122018-11-15990View PDF
2016-122017-10-26990OView PDF
2015-122017-01-03990OView PDF
2014-122015-08-04990OView PDF
...and 5 more Form 990s

Financials for MADC

RevenuesFYE 12/2019
Total grants, contributions, etc.$386,500
Program services$126,252
Investment income and dividends$18,492
Tax-exempt bond proceeds$0
Royalty revenue$673,768
Net rental income$297,013
Net gain from sale of non-inventory assets$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$1,502,025

Personnel at MADC

NameTitleCompensation
Stephanie HoffartPresident and Chief Executive Officer$124,394
Ryan AckermanSenior Vice President - Business Development$0
Randy HauckSecond Vice Chair$0
 Subscribe to viewPast Chair$0
 Subscribe to viewSecretary and Treasurer$0
...and 5 more key personnel

Organizations like MADC

OrganizationLocationRevenue
Central Virginia Partnership for Economic DevelopmentCharlottesville, VA$1,993,753
Mchenry County Economic Development CorporationCrystal Lake, IL$378,914
Rutland Economic Development CorporationRutland, VT$439,266
Corpus Christi Area Economic Development Corporation (CCREDC)Corpus Christi, TX$1,747,949
San Diego Region EDC (SDREDC)San Diego, CA$3,943,352
Anchorage Economic Development Corporation (AEDC)Anchorage, AK$1,087,453
Bradenton Area Economic Development CorporationBradenton, FL$1,097,031
Greater Rapid City Area Economic Development CorporationRapid City, SD$686,322
Butte Local Development CorporationButte, MT$659,322
World Trade Center Utah (WTC Utah)Salt Lake City, UT$2,307,190
Boone County Economic DevelopmentLebanon, IN$514,579
Goshen County Economic Development CorpTorrington, WY$761,485
Pueblo Economic Development (PEDCO)Pueblo, CO$955,309
FloridaWest Economic Development AlliancePensacola, FL$1,136,016
Clovis Industrial Development CorporationClovis, NM$404,310
Develop TiogaWellsboro, PA$610,686
Lansing Economic Area Partnership (LEAP)Lansing, MI$2,353,304
Bloomington Economic Development CorporationBloomington, IN$452,902
Economic Development Corporation of Sarasota CountySarasota, FL$1,600,782
Development Corporation of AustinAustin, MN$432,207
Lincoln Partnership for Economic Development (LPED)Lincoln, NE$1,792,534
Strategic Economic Development Corporation of the Mid-Willamette ValleySalem, OR$661,631
Economic Development Corporation of Utah (EDCU)Salt Lake City, UT$2,738,820
Aurora Economic Development CouncilAurora, CO$2,564,721
Operation Oswego CountyOswego, NY$815,677
Nonprofit Types
Issues
Characteristics
Key performance indicators
Total revenues
$1,502,025
2019
Yearly growth
70%
% of revenues
n/a
Total expenses
$577,272
2019
Yearly growth
-23.8%
% of expenses
n/a
Total assets
$11,710,210
2019
Yearly growth
1.9%
% of assets
n/a
Num. employees
7
2019
Yearly growth
40%
% of total
n/a
General information
Address
1020 20th Ave SW
Minot, ND 58701
Website URL
minotusa.com/ 
Phone
(701) 852-1075
Facebook page
minotusa 
IRS details
EIN
45-6015977
Fiscal year end
December
Taxreturn type
Form 990
Year formed
1959
Eligible to receive tax-deductible contributions (Pub 78)
No
Categorization
NTEE code, primary
S31: Urban, Community Economic Development
NAICS code, primary
926110: Economic Development Corporations and Economic Program Organizations
Parent/child status
Independent