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Itasca Economic Development Corporation
Community Development · Grand Rapids, Minnesota
1201 Se 7Th Ave Ste H, Grand Rapids, MN 55744-4343
EIN: 411413301· Founded: Nov 1989· 37 years active· Filing Year: 2023
Annual Revenue
$2.4M
Total Expenses
$1.3M
Total Assets
$4.5M
Program Spending
5%
of expenses go to programs
Compensation & Payroll
Total Officer Compensation
$127K
10.0% of total expenses
All officers, directors, and key employees combined
Other Salaries & Wages
$324K
Total Payroll
$451K
36% of total expenses
Where the Money Goes
5%
Programs: 5%
Payroll: 36%
Other overhead: 95%
Program Revenue$64K (3%)
Total Expenses$1.3M (53%)
Payroll$451K (36%)
Overhead (non-program)95%
Trust Score Breakdown
Program Spending Ratio
5% of expenses go to programs
Revenue & Stability
$2.4M annual revenue
Executive Compensation
$127K total officer comp (10.0% of expenses)
Filing Recency
Most recent filing: 2023
Asset Strength
$4.5M in assets
Data from IRS Form 990 filing (2023). Trust scores are calculated from public financial data and do not constitute endorsement or investment advice.