2024-05-24T09:44:59-05:00 2023-12-31 450310328 BRADY MARTZ and ASSOCIATES PC 2537 S UNIVERSITY DRIVE FARGO ND 58103 990 2023-01-01 450431077 GROWTH INITIATIVE FUND GROW 7013641900 51 BROADWAY 500 FARGO ND 58102 STEVE DUSEK CHAIR 7013641900 2024-05-17 1 STEVE DUSEK 999009999 0 JEREMY ULMER CPA P01218756 7012802100 2024-05-17 3 AAL1 IAL1 2023 2023-04-26 12:10:37Z STEVE DUSEK 51 BROADWAY SUITE 500 FARGO ND 58102 73346 0 X N/A X 1993 ND 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. 7 7 0 0 0 0 0 0 6450 9368 34830 63978 0 0 41280 73346 2500 2500 0 0 0 0 0 0 0 69793 56912 72293 59412 -31013 13934 8391493 8405427 0 0 8391493 8405427 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. 0 0 27036 2500 20487 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 88 PACE LOANS AND 1 FUNDING PARTNER LOAN AND 6 MICROLOANS. 27036 1 0 0 0 0 0 0 0 0 0 0 0 1 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 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 0 0 0 X LISBETH A LARSON 7013641909 51 BROADWAY SUITE 500 FARGO ND 58102 X TOM SEYMOUR DIRECTOR 0.50 X 0 0 0 SHELLY KEGLEY SECRETARY 0.50 X X 0 0 0 JOSH TEIGEN DIRECTOR 0.50 X 0 0 0 HARI PANJINI DIRECTOR 0.50 X 0 0 0 MICHELLE SCHUMACHER CHAIR 0.50 X X 0 0 0 STEVE DUESK VICE CHAIR 0.50 X X 0 0 0 LISA YONEY TREASURER 0.50 X X 0 0 0 0 0 0 0 0 0 0 0 PROGRAM REVENUE 900001 9368 9368 9368 63978 11119 52859 73346 20487 0 52859 2500 2500 19184 19184 4056 4056 11275 11275 1917 1917 PROVISION FOR CREDIT LO 19500 19500 FILING FEES 680 680 BACKGROUND CHECK FEES 300 300 59412 27036 32376 0 15106 216640 1921400 1241053 6452035 6947286 2952 448 8391493 8405427 0 0 X 8391493 8405427 8391493 8405427 8391493 8405427 13934 0 X X 0 1 X 1 0 X X X 1 GREATER FARGO MOORHEAD ECONOMIC DEVELOPMENT CORPORATOIN 456011769 7 1 19184 43006 1 19184 43006 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 PACE NOTES RECEIVABLES 6790433 C EARLY VENTURE MICROLOAN PROGRAM NOTES RECEIVABLE 156853 C 6947286 X 116352 43006 43006 73346 0 73346 102418 43006 43006 59412 0 59412 PART X, LINE 2: IT IS THE OPINION OF MANAGEMENT THAT THE ORGANIZATION HAS NO UNCERTAIN TAX POSITIONS THAT WOULD BE SUBJECT TO CHANGE UPON EXAMINATION. THE FEDERAL AND STATE INCOME TAX RETURNS OF THE ORGANIZATION ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEASR AFTER THEY WERE FILED. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THIS CORPORATION SHALL BE COMPOSED OF THOSE PERSONS WHO ARE AT-LARGE DIRECTORS, AGENCY DIRECTORS, AND COMMUNITY DIRECTORS OF THE GREATER FARGO MOORHEAD ECONOMIC DEVELOPMENT CORPORATION (GFMEDC). WHEN ANY PERSON SHALL CEASE TO BE A DIRECTOR OF THE GFMEDC, SUCH PERSON SHALL CEASE TO BE A MEMBER OF THIS CORPORATION AUTOMATICALLY AND WITHOUT ANY AFFIRMATIVE ACTION ON THE PART OF THE CORPORATION. FORM 990, PART VI, SECTION A, LINE 7A THE ENTITY APPOINTING A DIRECTOR SHALL HAVE THE RIGHT TO REMOVE A DIRECTOR SO APPOINTED AT ANY TIME AND APPOINT A SUCCESSOR FOR SUCH DIRECTOR. ANY VACANCY OCCURRING IN THE BOARD OF DIRECTORS SHALL BE PROMPTLY FILLED BY APPOINTMENT BY THE ENTITY RESPONSIBLE FOR SELECTING SUCH DIRECTOR - ONE DIRECTOR SHALL BE APPOINTED BY THE CASS COUNTY COMMISSION AND SUCH DIRECTOR SHALL RESIDE IN CASS COUNTY - ONE DIRECTOR SHALL BE APPOINTED BY THE FARGO CITY COMMISSION - ONE DIRECTOR SHALL BE APPOINTED BY THE WEST FARGO CITY COMMISSION - FOUR DIRECTORS SHALL BE APPOINTED BY THE GREATER FARGO MOORHEAD ECONOMIC DEVELOPMENT CORPORATION. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS HAVE THE RIGHT TO APPROVE THE ANNUAL BUDGET OF THE ORGANIZATION AND TO MAKE APPROPRIATE CHANGES IN THE BUDGET FROM TIME TO TIME. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS SUBMITTED TO THE FULL GOVERNING BOARD ELECTRONICALLY FOR THEIR REVIEW AND APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS SIGN THE CONFLICT OF INTEREST STATEMENT AND POLICY ANNUALLY, OF WHICH THEY ARE EXPECTED TO UPHOLD THEIR PLEDGE BY ABIDING BY IT. BOARD MEMBERS ARE EXPECTED TO ABSTAIN FROM VOTING ON LOANS WITH WHICH THEY MAY HAVE A CONFLICT OF INTEREST ISSUE. THE FINANCE/OFFICE MANAGER REVIEWS THE SIGNED DOCUMENTS AND BRINGS UP ANY POSSIBLE CONFLICTS TO THE PRESIDENT OF GREATER FARGO MOORHEAD ECONOMIC DEVELOPMENT CORPORATION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION HAS THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. PART XXII LINE 2C NO CHANGE FROM PRIOR YEAR