Passes our checks

North Central Economic Development Association Inc

EIN 36-3458720 · Staples, MN

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

What it says it does

OUR MISSION IS TO PROVIDE ASSISTANCE TO CULTIVATE NEW SKILLS AND RESOURCES THAT UNITE COMMUNITIES AND CONTRIBUTE TO A PROSPEROUS ECONOMY.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Fair: 63 out of 100. Higher than 34% of charities in its peer group (community improvement, under $250k).

Reserves
35 of 35
Spendable reserves would cover more than ten years of spending.
Debt
20 of 20
It owes 7% of what it owns.
Living within its means
0 of 15
Spending exceeded income by 30% of income.
Income trend
0 of 15
Income fell 59% on the year before.
Spending floor
8 of 15
54% of spending went to programs.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Good: 73 out of 100. Higher than 61% of charities in its peer group (community improvement, under $250k).

Independent board
25 of 25
11 of 11 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
7 of 7
Has a written policy on keeping and destroying records.
Board minutes
5 of 5
Keeps minutes of board meetings.
Board sees the tax return
0 of 10
Did not give the board a copy of this return before filing it.
Pay set independently
0 of 5
Reports no independent review process for its chief executive's pay.
No reported misuse
10 of 10
Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

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

Programs described in its return (3)

$30,174 spent. REGION FIVE DEVELOPMENT COMMISSION RECEIVED A $1.6 MILLION EDA CARES ACT RECOVERRY ASSISTANCE GRANT TO CAPITALIZE AND ADMINISTER REVOLVING LOAN FUNDS THAT WILL PROVIDE GAP FINANCING TO SMALL BUSINESSES AND ENTREPRENEURS ADVERSELY AFFECTED BY THE CORONAVIRUS PANDEMIC IN CROW WING, CASS, MORRISON, TODD, AND WADENA COUNTIES.
MN DEPARTMENT OF EMPLOYMENT & ECONOMIC DEVELOPMENT (DEED) PROVIDES FUNDS TO A NETWORK OF NON-PROFIT LENDERS WHICH USE THESE FUNDS FOR LOANS TO START-UP AND EXPANDING BUISNESSES THROUGHOUT THE STATE. DEED ALSO HAS PROVIDED FUNDS FOR SMALL BUSINESS EMERGENCY LOANS (SBEL) TO HELP SMALL BUSINESSES THROUGH THE PANDEMIC.
ISSUANCE OF REVOLVING LOAN FUNDS TO THE BUSINESSES TO ENCOURAGE ECONOMIC DEVELOPMENT IN CASS, CROW WING, MORRISON, TODD AND WADENA COUNTIES. THESE LOANS ARE MADE TO BUSINESSES IN COMBINATION WITH USE OF TRADITIONAL FINANCIAL SERVICES WE OFFER A LOWER INTEREST RATE.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

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.
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.
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.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending June 2025.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since December 1986.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
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.