Nonprofit · EIN 45-0404558
LAKE AGASSIZ REGIONAL DEVELOPMENT CORPORATION
Tax-exempt · FARGO, ND 58103
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $1,151,315 | $1,085,440 | $65,875 | $6,287,991 | $2,318,180 | $3,969,811 |
| December 31, 2024 | 990 | $1,112,933 | $1,002,843 | $110,090 | $6,440,859 | $2,536,923 | $3,903,936 |
| December 31, 2023 | 990 | $1,082,438 | $1,086,507 | -$4,069 | $6,313,719 | $2,519,873 | $3,793,846 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $133,258
- of which government grants
- $133,258
- Program service revenue
- $792,549
- Investment income
- $225,508
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $169,369
- Other salaries and wages
- $418,699
- Salaries, compensation and benefits (total)
- $723,262
- Professional fundraising fees
- $0
- Accounting fees
- $43,216
- Occupancy
- $143,645
- Travel
- $2,020
- Depreciation
- $76,633
- Program services (functional)
- $741,479
- Management and general (functional)
- $343,961
Balance sheet and other
- Total assets, start of year
- $6,440,859
- Total assets, end of year
- $6,287,991
- Total liabilities, end of year
- $2,318,180
- Net assets, end of year
- $3,969,811
- Land, buildings and equipment
- $1,121,701
- Net assets without donor restrictions
- $2,197,578
- Net assets with donor restrictions
- $1,772,233
- Gross receipts
- $1,151,315
- Employees
- 8
- Volunteers
- 0
- Year formed
- 1987
- State of legal domicile
- ND
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| SARA D ISAAK | SENIOR COMMERCIAL LOAN OFF Highest-paid employee | 8 | $113,100 | $8,194 |
| DONALD LITCH | CHIEF FINANCIAL OFFICER Officer | 25 | $88,063 | $16,588 |
| AMBER METZ | EXECUTIVE DIRECTOR Officer | 15 | $47,507 | $17,211 |
| ROBERT WURL | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| RICK MAIRS | PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| LARRY JACOBSEN | VICE PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| LISA ROTVOLD | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| JASON ARTH | DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2024: 7 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| SARA D ISAAK | SENIOR COMMERCIAL LOAN OFF Highest-paid employee | 8 | $106,887 | $15,959 |
| DONALD LITCH | CHIEF FINANCIAL OFFICER Officer | 25 | $86,115 | $15,992 |
| AMBER METZ | EXECUTIVE DIRECTOR Officer | 15 | $42,646 | $5,906 |
| ROBERT WURL | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| RICK MAIRS | PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| LARRY JACOBSEN | VICE PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| LISA ROTVOLD | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 7 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| SARA D ISAAK | SENIOR COMMERCIAL LOAN OFFICER Highest-paid employee | 8 | $104,436 | $14,906 |
| DONALD LITCH | CHIEF FINANCIAL OFFICER Officer | 25 | $84,564 | $15,259 |
| AMBER METZ | EXECUTIVE DIRECTOR Officer | 15 | $41,388 | $5,544 |
| ROBERT WURL | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| RICK MAIRS | PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| LARRY JACOBSEN | VICE PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| LISA ROTVOLD | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 417 MAIN AVE STE 201, FARGO, ND 58103-1982
- Principal officer (990 for 2025)
- DONALD LITCH, 417 MAIN AVENUE, FARGO, ND 58103
- Signed the 990
- DONALD LITCH, CFO
- Phone
- (701) 235-1197
- Website
- WWW.LAKEAGASSIZ.COM
- Return prepared by
- BRADY MARTZ PLLC
Mission
TO IDENTIFY AND PROVIDE FINANCING OPPORTUNITIES AND TECHNICAL ASSISTANCE TO EMERGING AND EXISTING BUSINESSES, PROVIDE COMMUNITY AND ECONOMIC DEVELOPMENT PLANNING AND IMPLEMENTATION FOR THE LONG-TERM SUSTAINABILITY AND GROWTH OF THE REGION, AND TO COORDINATE FEDERAL, STATE, AND PRIVATE PROGRAM ADMINISTRATION.
Program accomplishments
- PROVIDES COMMUNITY PLANNING AND ECONOMIC DEVELOPMENT ASSISTANCE AND OPERATION OF REGIONAL SMALL BUSINESS CENTER.Expenses $741,479 · revenue $792,549
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 45-0404558
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization (509(a)(3))
- Donations deductible (Pub 78)
- Supporting organization of unknown type
- Exempt since
- 1989
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $6,287,991
- Income (IRS master file)
- $1,151,315
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $1,151,315 | $1,085,440 | $6,287,991 | XML |
| 990 | December 2024 | $1,112,933 | $1,002,843 | $6,440,859 | XML |
| 990 | December 2023 | $1,082,438 | $1,086,507 | $6,313,719 | XML |
| 990 | December 2022 | $1,028,697 | $1,021,635 | $6,609,256 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 45-0404558).
Questions about LAKE AGASSIZ REGIONAL DEVELOPMENT CORPORATION
- What is the EIN of LAKE AGASSIZ REGIONAL DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of LAKE AGASSIZ REGIONAL DEVELOPMENT CORPORATION is 45-0404558.
- Is LAKE AGASSIZ REGIONAL DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1989.
- Are donations to LAKE AGASSIZ REGIONAL DEVELOPMENT CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization of unknown type).
- Which annual return does LAKE AGASSIZ REGIONAL DEVELOPMENT CORPORATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of LAKE AGASSIZ REGIONAL DEVELOPMENT CORPORATION due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did LAKE AGASSIZ REGIONAL DEVELOPMENT CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of LAKE AGASSIZ REGIONAL DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2025 names DONALD LITCH.
- Who are the officers and directors of LAKE AGASSIZ REGIONAL DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2025 lists 8 people; 3 received compensation from the organization, the highest $113,100 (SARA D ISAAK, SENIOR COMMERCIAL LOAN OFF).
- How much revenue does LAKE AGASSIZ REGIONAL DEVELOPMENT CORPORATION have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $1,151,315, expenses of $1,085,440 and total assets of $6,287,991 at year end.
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