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Heartland Lakes Development Commission

EIN 20-4208381 · Park Rapids, MN

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthWeak35 out of 100GovernanceGood85 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

INSPIRE AND RETAIN ECONOMIC GROWTH

Income
$887,618
Spending
$752,724
Spent on programs
63%
Reserves
-97.4 months of spending
Largest source of income
government grants, 66%
Employees
5
Highest pay
$93,200, executive director

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Weak: 35 out of 100. Higher than 7% of charities in its peer group (community improvement, $250k to $1m).

  • Reserves

    0 of 35

    Spendable reserves are negative: it owes or has committed more than it holds.

  • Debt

    2 of 20

    It owes 84% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 15% of income.

  • Income trend

    10 of 15

    Income fell 4% on the year before.

  • Spending floor

    8 of 15

    63% of spending went to programs and raising each dollar of donations cost 2 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Good: 85 out of 100. Higher than 68% of charities in its peer group (community improvement, $250k to $1m).

  • Independent board

    25 of 25

    7 of 7 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    0 of 8

    Reports no written whistleblower policy.

  • Record keeping policy

    0 of 7

    Reports no written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)
  1. $473,557 spent. HEARTLAND LAKES DEVELOPMENT COMMISSION PROVIDES COUNTYWIDE ECONOMIC DEVELOPMENT IN HUBBARD COUNTY. THE GOAL IS TO ENCOURAGE AND SUPPORT THE FOUNDATIONAL ELEMENTS FOR A THRIVING ECONOMIC ECOSYSTEM AND ACTIVELY CREATING ACCESS TO THE DIRECT DRIVERS FOR THAT ECOSYSTEM. HLDC IS THE FIRST STOP FOR INFORMATION ON A VARIETY OF BUSINESS NEEDS, WORKS WITH BUSINESSES LOOKING TO START, EXPAND OR RELOCATE IN HUBBARD COUNTY, CREATES AND IMPROVES ACCESS TO CAPITAL FOR BUSINESSES AND LOCAL GOVERNMENTS AND IS AT THE FOREFRONT OF CREATING AN ENTREPRENEURSHIP PIPELINE. HLDC OPERATES A COOPERATIVE WORKSPACE CALLED THE HANGAR WHICH PROVIDES A VARIETY OF SPACE OPTIONS FOR ENTREPRENEURS, SOON TO BE ENTREPRENEURS, SMALL BUSINESSES AND REMOTE WORKERS AS WELL AS NETWORKING AND TRAINING OPPORTUNITIES. HLDC ALSO MANAGES A REVOLVING LOAN FUND FOR THE CITY OF PARK RAPIDS AND MANAGEMENT OF HUBBARD COUNTY HRA-EDA. THE ORGANIZATION ADMINISTERS STATE AND FEDERAL GRANTS TO PROVIDE RESOURCES TO LOCAL BUSINESSES FOR REHABILITATION, HOUSING DEVELOPMENT, INDUSTRIAL PARK DEVELOPMENT, CHILDCARE SUPPORT AND WORKFORCE DEVELOPMENT. IN SUPPORT OF FOSTERING ECONOMIC GROWTH HLDC, DEVELOPED A MULTIFAMILY HOUSING PROJECT TO PROVIDE AFFORDABLE HOUSING TO THE WORKERS THAT LOCAL EMPLOYERS ARE WORKING TO ATTRACT. THE DEVELOPMENT ALSO INCLUDED SPECIAL FAMILY CHILDCARE UNITS TO INCREASE THE NUMBER OF CHILDCARE SLOTS AVAILABLE IN THE COMMUNITY.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since September 2020.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.