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Greater Fargo Moorhead Economic Development Corporation

EIN 45-6011769 · Fargo, ND

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

LegitimacyPassesRegistration and standingFinancial healthGood81 out of 100GovernanceStrong100 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

THE GREATER FARGO MOORHEAD ECONOMIC DEVELOPMENT CORPORATION (GFMEDC) IS A CATALYST FOR ECONOMIC GROWTH AND PROSPERITY. USING A COMPREHENSIVE APPROACH TO ECONOMIC DEVELOPMENT, THE GFMEDC ACCELERATES JOB AND WEALTH CREATION IN CASS COUNTY, ND AND CLAY COUNTY, MN.

Income
$3.4 million
Spending
$3.3 million
Spent on programs
68%
Reserves
4.8 months of spending
Largest source of income
donations and private grants, 65%
Employees
9
Volunteers
0
Highest pay
$329,307, president/ceo

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

Good: 81 out of 100. Higher than 61% of charities in its peer group (community improvement, $1m to $10m).

  • Reserves

    20 of 35

    Spendable reserves would cover 4.8 months of spending.

  • Debt

    16 of 20

    It owes 21% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 3% of income.

  • Income trend

    15 of 15

    Income rose 65% on the year before.

  • Spending floor

    15 of 15

    68% of spending went to programs and raising each dollar of donations cost 0 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

Strong: 100 out of 100. Higher than 68% of charities in its peer group (community improvement, $1m to $10m).

  • Independent board

    25 of 25

    16 of 16 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a 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

    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 (4)
  1. $1.2 million spent. OUR OVERARCHING MISSION OF THE GFMEDC IS TO LEAD THE DEVELOPMENT OF A ROBUST ECONOMY WHERE PEOPLE AND BUSINESSES THRIVE WHICH INCLUDES EFFORTS TO:- STRATEGICALLY PURSUE JOB CREATION AND BUSINESS ATTRACTION.- WORK WITH AND SUPPORT COMPANIES WITH DEMAND-DRIVEN WORKFORCE DEVELOPMENT. - SUPPORT A VIBRANT ENTREPRENEURIAL ECOSYSTEM.- COLLABORATE WITH PUBLIC AND PRIVATE SECTORS AND PARTNER ORGANIZATIONS TO ENHANCE PROGRAMS AND PROCESSES THAT MAKE DOING BUSINESS EASIER IN THE REGION.THE GFMEDC PROMOTES AND ENHANCES THE INDUSTRIAL AND ECONOMIC DEVELOPMENT OF CASS COUNTY, NORTH DAKOTA AND CLAY COUNTY, MINNESOTA, WHICH ENCOMPASSES THE FARGO-MOORHEAD MSA AS DELINEATED BY THE OFFICE OF MANAGEMENT AND BUDGET. THIS PROMOTION AND ENHANCEMENT IS DONE THROUGH DEPLOYMENT OF PROGRAMS AND ACTIVITIES DESIGNED TO FACILITATE JOB CREATION AND BY INFORMING EXISTING AND POTENTIAL BUSINESSES ABOUT THE BENEFITS OF LOCATING OR EXPANDING BUSINESS IN THIS REGION. THE OVERALL AIM IS TO IMPROVE THE ECONOMIC WELL-BEING OF THE RESIDENTS OF THE AREA. THE ORGANIZATION WORKS WITH THE ND DEPARTMENT OF COMMERCE AND MINNESOTA DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT AS WELL AS DIRECTLY WITH GLOBAL SITE SELECTORS AND COMPANIES TO BRING NEW BUSINESS TO THE STATE. WE WORK TO RECRUIT AND RETAIN PRIMARY-SECTOR COMPANIES. JOB CREATION - WE SUCCESSFULLY SUPPORTED 20 PROJECTS IN 2024 HELPED TO CREATE MORE THAN 221 DIRECT JOBS AND $164 MILLION IN CAPITAL INVESTMENT (EQUIPMENT AND BUILDINGS). COMPANIES ASSISTED - IN ADDITION TO THE AFOREMENTIONED PROJECTS, THE ORGANIZATION PROVIDED MEANINGFUL ASSISTANCE TO 75 COMPANIES IN 2024. NEWLY UTILIZED SQ./FT. - COMPANIES UTILIZED AN ADDITIONAL 653,000 SQ./FT. TO SUPPORT THEIR GROWTH STRATEGIES.
  2. $996,014 spent. THE OBJECTIVE OF THE WORKFORCE RECRUITMENT AND RETENTION PROGRAM IS TO ASSIST PRIMARY SECTOR BUSINESS LOCATED IN CASS COUNTY, ND AND CLAY COUNTY, MN WITH THE RECRUITMENT AND RETENTION OF SKILLED WORKERS. DOING SO HELPS GROW THE REGION'S POPULATION AND TAX BASE AND HELPS ATTRACT AND RETAIN PRIMARY SECTOR BUSINESSES. IN 2024, WE FOCUSED ON AND PROMOTED PROGRAMS THAT ASSISTED COMPANIES WITH THE RECRUITMENT AND RETENTION OF WORKFORCE. THROUGH THE REGIONAL WORKFORCE ATTRACTION CAMPAIGN, WE REDESIGNED LIVEINFARGO.COM INCORPORATING VIRTUAL TOURS AND COMMUNITY CHAMPIONS, SO PEOPLE INTERESTED IN RELOCATING CAN SEE THE COMMUNITY THROUGH A 360 DEGREE VIRTUAL TOUR AND CONNECT WITH SOMEONE, ALL OF WHICH CAN HELP WITH TALENT ATTRACTION AND RETENTION. WE USED OUR DATA TOOL,LIGHTCASTI, TO ASSIST EMPLOYERS BY PROVIDING WORKFORCE DATA.
  3. $12,350 spent. ENTREPRENEURIAL DEVELOPMENT - THE OBJECTIVE OF ENTREPRENEURIAL DEVELOPMENT PROGRAM IS TO SIMULTANEOUSLY ASSIST ENTREPRENEURS ON AN INDIVIDUAL LEVEL WHILE ALSO STRENGTHENING AND PROMOTING OUR ENTREPRENEURIAL ECOSYSTEM FOR FARGO MOORHEAD TO BE REGARDED AS A GREAT PLACE FOR ENTREPRENEURS. WE SUPPORTED INDIVIDUAL ENTREPRENEURS AND SUPPORTED ENTREPRENEURIAL PROGRAMS LIKE GRAND FARM AND GENER8TOR. ENTREPRENEURIAL DEVELOPMENT SUPPORTS AND FEEDS INTO BUSINESS DEVELOPMENT OR JOB AND WEALTH CREATION. WE WORK TO RECRUIT AND RETAIN PRIMARY-SECTOR COMPANIES. JOB CREATION - OUR SUCCESSFULLY ASSISTED PROJECTS IN 2024 HELPED TO CREATE MORE THAN 221 DIRECT JOBS; AND ADDITIONAL 289 INDIRECT AND INDUCED JOBS FOR A TOTAL OF 510 JOBS IN THE REGION.PAYROLL FOR THESE ON-GOING JOBS EXCEEDED $43 MILLION, WHICH EQUATES TO AN AVERAGE ANNUAL INCOME OF $ 84,000. IN ADDITION, A TOTAL OF 597 TEMPORARY JOBS WERE ADDED DUE TO CONSTRUCTION ACTIVITIES WITH A PAYROLL OF $ 38.9 MILLION. TOTAL PAYROLL FOR TEMPORARY POSITIONS EQUATES TO AN AVERAGE INCOME PER JOB OF $65,000.ANNUAL SALES - DUE TO COMPANY AND EMPLOYEE SPENDING, THE REGIONAL ECONOMY HAD AN ESTIMATED $293.3 MILLION IN ADDITIONAL SALES THAT TOOK PLACE, OF WHICH $156.9 MILLION WILL BE REOCCURRING EACH YEAR WITH THE CONTINUED OPERATION OF THE NEW BUSINESSES. COMPANIES ASSISTED - IN ADDITION TO THE AFOREMENTIONED PROJECTS, THE ORGANIZATION COMPLETED 75 COMPANY ASSISTANCE PROJECTS IN 2024. NEWLY UTILIZED SQ./FT. - COMPANIES UTILIZED AN ADDITIONAL 650,000 SQ./FT. TO SUPPORT THEIR GROWTH STRATEGIES.
  4. $1,908 spent. ENTREPRENEURIAL DEVELOPMENT - THE OBJECTIVE OF ENTREPRENEURIAL DEVELOPMENT PROGRAM IS TO SIMULTANEOUSLY ASSIST ENTREPRENEURS ON AN INDIVIDUAL LEVEL WHILE ALSO STRENGTHENING AND PROMOTING OUR ENTREPRENEURIAL ECOSYSTEM FOR IN AN EFFORT TO BETTER FINANCIAL SUPPORT THE PROGRAMMING OF THE EDC, AND TO BETTER ALIGN OUR WORK WITH KEY PARTNERS, SUCH AS THE CHAMBER OF COMMERCE, WE EMBARKED IN 2024 TO RAISE FUNDS THROUGH A FOUR-YEAR INITIATIVE CALLED INNOVATE28. INNOVATE28 IS FOCUSED ON ACHIEVING MEANINGFUL RESULTS IN WORKFORCE DEVELOPMENT, BUSINESS DEVELOPMENT AND PUBLIC POLICY. THE GFMEDC IS CHARGED WITH CONTINUING ITS WORK IN BUSINESS DEVELOPMENT (RETENTION, ATTRACTION AND NEW COMPANY CREATION) AND WORKFORCE RECRUITMENT, AND FUNDING FROM THE INNOVATE28 CAMPAIGN ARE BEING UTILIZED TO FUND PROGRAMMING FOR THIS WORK.

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 May 2006.

    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.