Nonprofit · EIN 45-0431077
GROWTH INITIATIVE FUND
Tax-exempt · FARGO, ND 58102
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $83,640 | $49,804 | $33,836 | $9,117,451 | $10,240 | $9,107,211 |
| December 31, 2024 | 990 | $735,425 | $67,477 | $667,948 | $9,087,417 | $14,042 | $9,073,375 |
| December 31, 2023 | 990 | $73,346 | $59,412 | $13,934 | $8,405,427 | $0 | $8,405,427 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $7,616
- Investment income
- $76,024
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $2,500
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $3,650
- Accounting fees
- $17,089
- Program services (functional)
- $6,782
- Management and general (functional)
- $43,022
Balance sheet and other
- Total assets, start of year
- $9,087,417
- Total assets, end of year
- $9,117,451
- Total liabilities, end of year
- $10,240
- Net assets, end of year
- $9,107,211
- Net assets without donor restrictions
- $9,107,211
- Gross receipts
- $83,640
- Employees
- 0
- Volunteers
- 7
- Year formed
- 1993
- 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 |
|---|---|---|---|
| TOM SEYMOUR | DIRECTOR Trustee or director | 0.5 | $0 |
| MARK VOIGT | TREASURER Trustee or director, Officer | 0.5 | $0 |
| JOSH TEIGEN | DIRECTOR Trustee or director | 0.5 | $0 |
| HARI PANJINI | DIRECTOR Trustee or director | 0.5 | $0 |
| STEVE DUSEK | CHAIR Trustee or director, Officer | 0.5 | $0 |
| JULIE WHITNEY | VICE CHAIR Trustee or director, Officer | 0.5 | $0 |
| JIM HAMBRICK | SECRETARY Trustee or director, Officer | 0.5 | $0 |
990 for the year ended December 31, 2024: 8 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| TOM SEYMOUR | DIRECTOR Trustee or director | 0.5 | $0 |
| MARK VOIGT | SECRETARY Trustee or director, Officer | 0.5 | $0 |
| JOSH TEIGEN | DIRECTOR Trustee or director | 0.5 | $0 |
| HARI PANJINI | DIRECTOR Trustee or director | 0.5 | $0 |
| MICHELLE SCHUMACHER | DIRECTOR Trustee or director | 0.5 | $0 |
| STEVE DUSEK | CHAIR Trustee or director, Officer | 0.5 | $0 |
| LISA YONEY | VICE CHAIR Trustee or director, Officer | 0.5 | $0 |
| JULIE WHITNEY | TREASURER Trustee or director, Officer | 0.5 | $0 |
990 for the year ended December 31, 2023: 7 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| TOM SEYMOUR | DIRECTOR Trustee or director | 0.5 | $0 |
| SHELLY KEGLEY | SECRETARY Trustee or director, Officer | 0.5 | $0 |
| JOSH TEIGEN | DIRECTOR Trustee or director | 0.5 | $0 |
| HARI PANJINI | DIRECTOR Trustee or director | 0.5 | $0 |
| MICHELLE SCHUMACHER | CHAIR Trustee or director, Officer | 0.5 | $0 |
| STEVE DUESK | VICE CHAIR Trustee or director, Officer | 0.5 | $0 |
| LISA YONEY | TREASURER Trustee or director, Officer | 0.5 | $0 |
Address and contacts
- Address (IRS master file)
- 51 BROADWAY N STE 500, FARGO, ND 58102-4970
- In care of
- % PATTI J HANSON
- Principal officer (990 for 2025)
- STEVE DUSEK, 51 BROADWAY SUITE 500, FARGO, ND 58102
- Signed the 990
- STEVE DUSEK, CHAIR
- Phone
- (701) 364-1900
- Return prepared by
- BRADY MARTZ PLLC
Mission
TO PROMOTE ECONOMIC DEVELOPMENT IN CASS COUNTY, NORTH DAKOTA. THE CORPORATION SHALL EXIST TO CREATE AND MANAGE FINANCIAL PROGRAMS TO ENCOURAGE PRIMARY SECTOR JOB CREATION IN CASS COUNTY.
Program accomplishments
- THE PURPOSE OF GROWTH INITIATIVE FUND, INC. (FUND) SHALL BE TO PROMOTE ECONOMIC DEVELOPMENT IN CASS COUNTY, NORTH DAKOTA. THE ORGANIZATION PROVIDES INCENTIVE LOANS TO EXISTING AND OUT-OF-STATE CLENTS LOOKING TO EXPAND OPERATIONS IN CASS COUNTY, ND AREA TO CREATE EMPLOYMENT WITHIN THE COUNTY. THE FUND IS SET UP FOR LOCAL GOVERNMENTS IN ORDER TO BRING PROFESSIONAL ASSISTANCE AND SUPPORT FROM THE PRIVATE SECTOR AND LESSEN THE BURDENS OF GOVERNMENT. THE FUND IS CURRENTLY SERVICING 78 PACE LOANS AND 4 MICROLOANS.Expenses $6,782 · grants $2,500 · revenue $13,728
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
- 45-0431077
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization, Type I
- Donations deductible (Pub 78)
- Supporting organization, 50% limit
- Exempt since
- 2018
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S40)
- Assets (IRS master file)
- $9,117,451
- Income (IRS master file)
- $83,640
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $83,640 | $49,804 | $9,117,451 | XML |
| 990 | December 2024 | $735,425 | $67,477 | $9,087,417 | XML |
| 990 | December 2023 | $73,346 | $59,412 | $8,405,427 | XML |
| 990 | December 2022 | $41,280 | $72,293 | $8,391,493 | 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 45-0431077).
Questions about GROWTH INITIATIVE FUND
- What is the EIN of GROWTH INITIATIVE FUND?
- The employer identification number (EIN) of GROWTH INITIATIVE FUND is 45-0431077.
- Is GROWTH INITIATIVE FUND tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2018.
- Are donations to GROWTH INITIATIVE FUND tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization, 50% limit).
- Which annual return does GROWTH INITIATIVE FUND 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 GROWTH INITIATIVE FUND 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 GROWTH INITIATIVE FUND 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 GROWTH INITIATIVE FUND?
- The 990 for the year ended December 31, 2025 names STEVE DUSEK.
- Who are the officers and directors of GROWTH INITIATIVE FUND?
- The 990 for the year ended December 31, 2025 lists 7 people; 0 received compensation from the organization.
- How much revenue does GROWTH INITIATIVE FUND have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $83,640, expenses of $49,804 and total assets of $9,117,451 at year end.
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All nonprofits in FARGO · North Dakota · Community improvement and capacity building