Economic Development Corporation Of Colgate

Economic Development Corporation Of Colgate maintains stable finances with no officer compensation.

EIN: 200909997 · Hope, ND · NTEE: S31 · Updated: 2026-03-28

$45KRevenue

$261KAssets

85/100Mission Score (Excellent)

S31

About Economic Development Corporation Of Colgate

Economic Development Corporation Of Colgate (EIN: 200909997) is a nonprofit organization based in Hope, ND, classified under NTEE code S31. The organization reported total revenue of $45K and total assets of $261K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Economic Development Corporation Of Colgate's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Economic Development Corporation Of Colgate demonstrates consistent financial stability with assets significantly exceeding liabilities across its filing history. While its revenue has fluctuated slightly, it has generally maintained a positive net income, indicating sound financial management. The organization's commitment to transparency is strong, as evidenced by its consistent 0% officer compensation, suggesting that resources are primarily directed towards its mission rather than executive salaries. The relatively small scale of its operations, with latest revenue at $44,555, means its impact is likely localized, but its financial health appears robust for an organization of its size.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Economic Development Corporation Of Colgate with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.

Spending Breakdown

admin: 10%
programs: 90%
fundraising: 0%

According to IRS 990 filings, Economic Development Corporation Of Colgate allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

Executive compensation is 0% across all reported periods, indicating that no officers or key employees are compensated, which is highly favorable for an organization of this size and suggests a volunteer-driven leadership.

Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.

Strengths

The following positive indicators were identified for Economic Development Corporation Of Colgate:

Consistent positive net income in most periods (e.g., 2015: $39,184 revenue vs. $17,568 expenses).
No officer compensation reported across all filings, indicating efficient use of funds.
Assets consistently exceed liabilities, demonstrating financial stability (e.g., 2015: $289,381 assets vs. $167,835 liabilities).
Stable revenue generation for an organization of its size.
Low administrative overhead implied by the absence of officer compensation and generally low expenses relative to revenue.

Frequently Asked Questions about Economic Development Corporation Of Colgate

Is Economic Development Corporation Of Colgate a good charity?

Based on the provided data, the Economic Development Corporation Of Colgate appears to be a well-managed organization with strong financial health, no executive compensation, and consistent asset growth relative to its liabilities. Its focus on economic development in Hope, ND, aligns with its NTEE code S31.

How has the organization's revenue trended over time?

The organization's revenue has shown some fluctuation but generally remained stable, ranging from $34,779 in 2012 to $44,555 in the latest period, with a peak of $39,184 in 2015.

What is the organization's asset-to-liability ratio?

In the latest period, assets are $261,458. While liabilities are not provided for the latest period, historical data shows assets consistently exceeding liabilities, for example, $289,381 in assets vs. $167,835 in liabilities in 2015, indicating a healthy financial position.

Filing History

IRS 990 filing history for Economic Development Corporation Of Colgate showing financial trends over 5 years of public records:

Over 5 years of IRS 990 filings (2011–2015), Economic Development Corporation Of Colgate's revenue has grown by 9.2%, moving from $36K to $39K. Total assets decreased by 12.2% over the same period, from $330K to $289K. Total functional expenses fell by 51.4%, from $36K to $18K. In its most recent filing year (2015), Economic Development Corporation Of Colgate reported a surplus of $22K, with revenue exceeding expenses. The organization holds $168K in liabilities against $289K in assets (debt-to-asset ratio: 58.0%), resulting in net assets of $122K.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2015	$39K	$18K	$289K	$168K	—	View 990
2014	$36K	$33K	$298K	$198K	—	View 990
2013	$39K	$20K	$313K	$217K	—	View 990
2012	$35K	$22K	$323K	$245K	—	View 990
2011	$36K	$36K	$330K	$265K	—	View 990

Year-by-Year Financial Summary

2015: Revenue of $39K, expenses of $18K, and assets of $289K (revenue +8.4% year-over-year).
2014: Revenue of $36K, expenses of $33K, and assets of $298K (revenue -6.5% year-over-year).
2013: Revenue of $39K, expenses of $20K, and assets of $313K (revenue +11.1% year-over-year).
2012: Revenue of $35K, expenses of $22K, and assets of $323K (revenue -3.1% year-over-year).
2011: Revenue of $36K, expenses of $36K, and assets of $330K.

Data Sources and Methodology

This transparency report for Economic Development Corporation Of Colgate is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.

IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.

Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.