Overview
What is Greater Fargo Moorhead Economic Development Corporation?
The Greater Fargo Moorhead Economic Development Corporation, abbreviated as GFMEDC, is a nonprofit organization situated in Fargo, North Dakota. Its primary objective is to foster economic growth and prosperity in Cass County, North Dakota, and Clay County, Minnesota. The organization achieves this goal by pursuing strategic initiatives such as job creation, business attraction, and workforce development. GFMEDC supports companies with demand-driven workforce development and promotes a thriving entrepreneurial ecosystem. By collaborating with public and private sectors, as well as partner organizations, GFMEDC simplifies business processes in the region, ultimately enhancing business activities within its jurisdiction. The aim is to improve the economic well-being of the local community, and GFMEDC works closely with state departments and directly with site selectors and companies to attract new businesses to the area. With a team of 9 dedicated individuals, GFMEDC plays a significant role in the economic development of the Fargo-Moorhead Metropolitan Statistical Area (MSA).
Official website here: www.gfmedc.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94%, Four-Star out of Four Star rating
The Greater Fargo Moorhead Economic Development Corporation has received a commendable Four-Star rating from Charity Navigator, reflecting its high accountability and financial health with a score of 94%. The organization excels in various areas, particularly in governance, with a fully independent board and robust oversight mechanisms in place. These factors contribute to its strong financial integrity and transparency.
Strengths of the organization include its outstanding financial practices, such as a favorable liabilities to assets ratio and efficient working capital management. The corporation also demonstrates a commitment to ethical standards, as evidenced by its comprehensive conflict of interest and whistleblower policies. The organization maintains clear documentation and transparency regarding its financial statements, further enhancing its credibility.
However, the organization has some limitations, particularly in its fundraising efficiency, which received a lower score. While the program expense ratio is commendable, the fundraising efficiency ratio indicates that there may be opportunities for improvement in this area. Overall, the Greater Fargo Moorhead Economic Development Corporation appears to be a well-managed and accountable nonprofit, although enhancing fundraising strategies could strengthen its overall impact.
This AI summary has been generated from information found on Charity Navigator.
Is Greater Fargo Moorhead Economic Development Corporation legitimate?
Greater Fargo Moorhead Economic Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Greater Fargo Moorhead Economic Development Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $299,236
Professional Fundraising Fees: $0
Other Salaries and Wages: $657,860
For more financial information, click here
Official website here: www.gfmedc.com
What is the mission statement of Greater Fargo Moorhead Economic Development Corporation?
The Greater Fargo Moorhead Economic Development Corporation (GFMEDC) serves as a catalyst for economic growth and prosperity, focusing on Cass County, North Dakota, and Clay County, Minnesota. Adopting a comprehensive approach to economic development, the GFMEDC accelerates job and wealth creation in these areas by strategically pursuing job creation and business attraction, supporting companies with demand-driven workforce development, fostering a vibrant entrepreneurial ecosystem, and collaborating with various sectors and partner organizations to enhance business processes. The organization aims to promote and develop the industrial and economic development of the region, improving the overall economic well-being of its residents by facilitating job creation through programs and activities. The GFMEDC works closely with state departments and directly with site selectors and companies to attract new businesses to the two-county region.
Official website here: www.gfmedc.com
Who is the CEO of Greater Fargo Moorhead Economic Development Corporation?
Joseph M Raso is the Chair of Greater Fargo Moorhead Economic Development Corporation. The CEO's salary of Greater Fargo Moorhead Economic Development Corporation is $299,236 and their total compensation is $319,417.
Official website here: www.gfmedc.com
What is the revenue of Greater Fargo Moorhead Economic Development Corporation?
Greater Fargo Moorhead Economic Development Corporation's revenue in 2022 was $1,756,117.
Official website here: www.gfmedc.com
Who are the executives of Greater Fargo Moorhead Economic Development Corporation and what are their salaries?
The average compensation at Greater Fargo Moorhead Economic Development Corporation during 2022 was $106,344. There are 9 employees and 50 volunteers at Greater Fargo Moorhead Economic Development Corporation.
Here are 42 key members and their salaries (Greater Fargo Moorhead Economic Development Corporation's CEO's salary is $299,236 and their total compensation is $319,417):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $299,236
- Related: $0
- Other: $20,181
- Compensation: $103,984
- Related: $0
- Other: $17,170
- Compensation: $122,648
- Related: $0
- Other: $18,490
Official website here: www.gfmedc.com
Where can I find the form 990 for Greater Fargo Moorhead Economic Development Corporation?
Greater Fargo Moorhead Economic Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.gfmedc.com
Learn more at the official website: www.gfmedc.com
Mission Statement of Greater Fargo Moorhead Economic Development Corporation
The Greater Fargo Moorhead Economic Development Corporation, often referred to as GFMEDC, is a catalyst for economic growth and prosperity in Cass County, North Dakota, and Clay County, Minnesota. With a comprehensive approach to economic development, the GFMEDC accelerates job and wealth creation in these regions. The organization's mission is to lead the development of a robust economy where people and businesses thrive.
Strategically pursuing job creation and business attraction, the GFMEDC works with and supports companies by addressing their demand-driven workforce development needs. The corporation also fosters a vibrant entrepreneurial ecosystem, collaborating with public and private sectors, as well as partner organizations, to enhance programs and processes that make doing business easier in the region.
The GFMEDC promotes and develops the industrial and economic development of Cass County, North Dakota, and Clay County, Minnesota, with the aim of improving the economic well-being of its residents. By facilitating job creation, informing existing and potential businesses about the benefits of locating business in the region, and working closely with the North Dakota Department of Commerce and Minnesota Department of Employment and Economic Development, as well as directly with site selectors and companies, the GFMEDC strives to bring new businesses to the 2-county region. The overall goal is to create a prosperous and thriving community where individuals and businesses can flourish.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
July, 2024
The impact of the Greater Fargo Moorhead Economic Development Corporation is significant in accelerating job and wealth creation in Cass County, North Dakota, and Clay County, Minnesota. By strategically pursuing job creation, business attraction, and supporting a vibrant entrepreneurial ecosystem, the organization plays a vital role in growing and diversifying the economies of the region. Through collaboration with public and private sectors, as well as partner organizations, the GFMEDC works to make doing business easier in the area, ultimately improving the economic well-being of residents. Overall, the GFMEDC serves as a catalyst for economic growth and prosperity in the Fargo-Moorhead metropolitan area.
This information is meant to be a general summary of Greater Fargo Moorhead Economic Development Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $18,441
- Program Service Revenue: $46,379
- Gross Receipts: $1,756,117
Assets and Liabilities:
- Total Assets: $2,789,395
- Total Liabilities: $811,968
- Net Assets: $1,977,427
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
JOB TRAINING PROGRAM
Revenue
$46,379
Organization Details
Founding Year
1946
Phone
(701) 364-1900Principal Officer
Joseph M Raso
Main Address
51 BROADWAY 500, FARGO, ND, 58102
Website
www.gfmedc.comNTEE Category
Code: S31 - Community improvement
If you are a representative of Greater Fargo Moorhead Economic Development Corporation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.