Civic Intelligence

Lee County Economic Development Group Inc.

990 • Fiscal year 2018 • EIN 04-3605260

Jul 01, 2017 to Jun 30, 2018 • Filed on Nov 02, 2018

Organization ProfileLEECOUNTYEDG.COM
2700 Kindustry Park RoadKeokuk, IA 52632

(319) 524-2535

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

88th percentile

0.62x

Higher debt load relative to assets than 88% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

91st percentile

1.16x

Higher debt load relative to revenue than 91% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Net Margin

28th percentile

-5.0%

Higher net margin than 28% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

92nd percentile

$128,687

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 29.9% of source-year revenue.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Asset Growth

40th percentile

-1.3%

Faster asset growth than 40% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

28th percentile

-6.7%

Faster revenue growth than 28% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets88th percentile

Assets

Down

$801,967

Down $10,226 (-1.3%) from 2017

Net Assets

Down

$303,998

Down $21,719 (-6.7%) from 2017

Liabilities

Up

$497,969

Up $11,493 (+2.4%) from 2017

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin28th percentile

Revenue

Down

$430,644

Down $30,947 (-6.7%) from 2017

Expenses

Up

$452,363

Up $372 (+0.1%) from 2017

Net Income

Down

-$21,719

Down $31,319 (-326%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth40th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$2.0M$1.5M$1.0M$500K$0Assets 2011: $410,179Liabilities 2011: $352,500Net Assets 2011: $57,6792011Assets 2012: $498,448Liabilities 2012: $351,476Net Assets 2012: $146,9722012Assets 2013: $505,256Liabilities 2013: $353,213Net Assets 2013: $152,0432013Assets 2014: $474,363Liabilities 2014: $359,280Net Assets 2014: $115,0832014Assets 2015: $541,097Liabilities 2015: $353,891Net Assets 2015: $187,2062015Assets 2016: $589,728Liabilities 2016: $273,611Net Assets 2016: $316,1172016Assets 2017: $812,193Liabilities 2017: $486,476Net Assets 2017: $325,7172017Assets 2018: $801,967Liabilities 2018: $497,969Net Assets 2018: $303,9982018Assets 2019: $775,828Liabilities 2019: $523,267Net Assets 2019: $252,5612019Assets 2020: $944,878Liabilities 2020: $582,230Net Assets 2020: $362,6482020Assets 2021: $900,697Liabilities 2021: $440,990Net Assets 2021: $459,7072021Assets 2022: $1,195,323Liabilities 2022: $366,165Net Assets 2022: $829,1582022Assets 2023: $1,756,635Liabilities 2023: $401,061Net Assets 2023: $1,355,5742023Assets 2024: $1,031,030Liabilities 2024: $76,231Net Assets 2024: $954,7992024

Highlighted filing

2018

Assets$801,967
Liabilities$497,969
Net Assets$303,998
Open 2018 Filing

Operations Trend

Revenue Growth28th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2011: $209,895Expenses 2011: $205,076Net Income 2011: $4,8192011Expenses 2012: $149,1812012Revenue 2013: $217,217Expenses 2013: $241,502Net Income 2013: -$24,2852013Revenue 2014: $471,995Expenses 2014: $508,955Net Income 2014: -$36,9602014Revenue 2015: $230,443Expenses 2015: $158,320Net Income 2015: $72,1232015Revenue 2016: $639,841Expenses 2016: $510,930Net Income 2016: $128,9112016Revenue 2017: $461,591Expenses 2017: $451,991Net Income 2017: $9,6002017Revenue 2018: $430,644Expenses 2018: $452,363Net Income 2018: -$21,7192018Revenue 2019: $400,630Expenses 2019: $452,067Net Income 2019: -$51,4372019Revenue 2020: $457,877Expenses 2020: $347,790Net Income 2020: $110,0872020Revenue 2021: $534,006Expenses 2021: $436,947Net Income 2021: $97,0592021Revenue 2022: $903,692Expenses 2022: $534,241Net Income 2022: $369,4512022Revenue 2023: $1,240,993Expenses 2023: $714,577Net Income 2023: $526,4162023Revenue 2024: $530,081Expenses 2024: $930,856Net Income 2024: -$400,7752024

Highlighted filing

2018

Revenue$430,644
Expenses$452,363
Net Income-$21,719
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Nov 2, 2018
Return Version
2017v2.3
Gross Receipts
$430,644
Mission and Program Overview

Mission

Economic development for the lee county, iowa community

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$325,717$303,998▼ $21,719
Cash and Non-Interest-Bearing Accounts$235,333$253,959▲ $18,626
Accounts Receivable$74,500$37,000▼ $37,500
Savings and Temporary Cash Investments$32,219$32,268▲ $49
Land, Buildings, and Equipment, Net$3,474$2,074▼ $1,400
Total Assets$812,193$801,967▼ $10,226
Other Assets Total$466,667$476,666▲ $9,999
Liabilities
Mortgage Notes Payable Secured by Investment Property$400,000$400,000→ $0
Accounts Payable and Accrued Expenses$86,476$97,969▲ $11,493
Total Liabilities$486,476$497,969▲ $11,493
Net Assets / Fund Balance
Total Net Assets Fund Balance$325,717$303,998▼ $21,719
Total Liabilities and Net Assets / Fund Balance$812,193$801,967▼ $10,226

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$2,074$19,003$21,077
Other Assets Org$76,666--
Compensation and Service Providers
Top Officer Pay92nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Joseph SteilChief ExecutFT$128,687$128,687

Board Members and Trustees

NameTitle
Dave SchwarzPresident
Bryan LangerudDirector
Deb WrightDirector
Gary FolluoDirector
Jamie BaierDirector
Jenny SteffensmeierDirector
Kathy GabelDirector
Matt MorrisDirector
Michael KlauserDirector
Michael MohrfeldDirector
Mike NorrisDirector
Rick LarkinDirector
Scott SmithDirector
Phil HechtSecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$413,050
Program Service Revenue
$0
Investment Income
$17,594
Other Revenue
$0
All Other Contributions
$203,050
Change in Net Assets
$-21,719
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$283,388
Other Expenses$168,975
Total Fundraising Expense$80,176
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Comp Disqual Persons$129,594--$129,594
Current Officers, Directors, Trustees, and Key Employees$128,687--$128,687
Fees for Services Other-$300$80,176$80,476
Payroll Taxes$25,107--$25,107
Interest-$16,667-$16,667
Conferences and Meetings$10,953--$10,953
Travel$2,760$5,665-$8,425
Office Expenses$3,729$2,760-$6,489
Fees for Services Accounting-$6,335-$6,335
Occupancy-$5,780-$5,780
Information Technology-$4,455-$4,455
Insurance-$3,353-$3,353
Other Expenses$4,230$1,602-$1,602
Depreciation Depletion-$1,400-$1,400
Advertising$1,358--$1,358
Total Functional Expenses$318,070$54,117$80,176$452,363
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“Board approves 990 before it is filed”

Form 990, Page 6, Part VI, Line 12C

“Address issues as they arise”

Form 990, Page 6, Part VI, Line 19

“Available upon written request”

Filing and Contact Details

Filer

Filer Name
Lee County Economic Development
EIN
04-3605260
Phone
3195242535
Address
2700 KINDUSTRY PARK ROAD, KEOKUK, IA 52632

Signing Officer

Name
Dave Schwarz
Title
President
Phone
3195242535
Signed
2018-11-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dave Schwarz
Formed
2002
Legal Domicile
Ia
Voting Board Members
11
Independent Board Members
11
Employees
3
Volunteers
5

Preparer

Firm
Menke & Company
Address
3915 MAIN ST, KEOKUK, IA 52632-2010
Preparer
Ann M Menke
Phone
3195241040
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“OTHER FEES 0 300 80,176”

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IRS990/PayrollTaxesGrp/ProgramServicesAmt025107
IRS990/PayrollTaxesGrp/TotalAmt025107
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0DAVE SCHWARZ
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0439500
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt018111
IRS990/PYOtherExpensesAmt0166016
IRS990/PYOtherRevenueAmt03980
IRS990/PYRevenuesLessExpensesAmt09600
IRS990/PYSalariesCompEmpBnftPaidAmt0285975
IRS990/PYTotalExpensesAmt0451991
IRS990/PYTotalRevenueAmt0461591
IRS990/ReconcilationRevenueExpnssAmt0-21719
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0325717
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0303998
IRS990/SavingsAndTempCashInvstGrp/BOYAmt032219
IRS990/SavingsAndTempCashInvstGrp/EOYAmt032268
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt08,780
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0413050
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0439500
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0482350
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0471838
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0216836
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt02023574
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt017594
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt018111
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0152691
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0157
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0381
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0188934
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt03980
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt04800
IRS990ScheduleA/OtherIncome170Grp/TotalAmt08780
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.91100
IRS990ScheduleA/PublicSupportPY170Pct00.91110
IRS990ScheduleA/PublicSupportTotal170Amt02023574
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0413050
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0439500
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0482350
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0471838
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0216836
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02023574
IRS990ScheduleA/TotalSupportAmt02221288
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/BookValueAmt02074
IRS990ScheduleD/EquipmentGrp/DepreciationAmt019003
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt021077
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0400000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt176666
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0NOTES RECEIVABLE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1INTEREST RECEIVABLE
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02074
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0476666
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BOARD APPROVES 990 BEFORE IT IS FILED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ADDRESS ISSUES AS THEY ARISE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AVAILABLE UPON WRITTEN REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3OTHER FEES 0 300 80,176
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0812193
IRS990/TotalAssetsEOYAmt0801967
IRS990/TotalAssetsGrp/BOYAmt0812193
IRS990/TotalAssetsGrp/EOYAmt0801967
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0413050
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt080176
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt054117
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0318070
IRS990/TotalFunctionalExpensesGrp/TotalAmt0452363
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0486476
IRS990/TotalLiabilitiesEOYAmt0497969
IRS990/TotalLiabilitiesGrp/BOYAmt0486476
IRS990/TotalLiabilitiesGrp/EOYAmt0497969
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0325717
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0303998
IRS990/TotalProgramServiceExpensesAmt0318070
IRS990/TotalReportableCompFromOrgAmt0128687
IRS990/TotalRevenueGrp/ExclusionAmt017594
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0430644
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0812193
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0801967
IRS990/TravelGrp/ManagementAndGeneralAmt05665
IRS990/TravelGrp/ProgramServicesAmt02760
IRS990/TravelGrp/TotalAmt08425
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WebsiteAddressTxt0LEECOUNTYEDG.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DAVE SCHWARZ
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03195242535
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-11-02
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LEE COUNTY ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0GROUP
ReturnHeader/Filer/BusinessNameControlTxt0LEEC
ReturnHeader/Filer/EIN0043605260
ReturnHeader/Filer/PhoneNum03195242535
ReturnHeader/Filer/USAddress/AddressLine1Txt02700 KINDUSTRY PARK ROAD
ReturnHeader/Filer/USAddress/CityNm0KEOKUK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd052632
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId04A39BA495E464A11D9E7B9892E32A2F31621586D
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId072C25E51DB0831180FAFBDB8DFE5BB7511F50503
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0192.119.236.34
ReturnHeader/FilingSecurityInformation/IPDt02018-11-07

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$801,967
Liabilities
$497,969
Net assets
$303,998
Revenue
$430,644
Expenses
$452,363
Net income
-$21,719
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.03$0.08$0.95$0.53$0.93$0.40
2023Detailed filing. Detailed filing data is available for this year.$1.76$0.40$1.36$1.24$0.71$0.53
2022Detailed filing. Detailed filing data is available for this year.$1.20$0.37$0.83$0.90$0.53$0.37
2021Detailed filing. Detailed filing data is available for this year.$0.90$0.44$0.46$0.53$0.44$0.10
2020Detailed filing. Detailed filing data is available for this year.$0.94$0.58$0.36$0.46$0.35$0.11
2019Detailed filing. Detailed filing data is available for this year.$0.78$0.52$0.25$0.40$0.45$0.05
2018Detailed filing. Detailed filing data is available for this year.$0.80$0.50$0.30$0.43$0.45$0.02
2017Detailed filing. Detailed filing data is available for this year.$0.81$0.49$0.33$0.46$0.45$0.01
2016Detailed filing. Detailed filing data is available for this year.$0.59$0.27$0.32$0.64$0.51$0.13
2015Summary only. Only limited summary data is available for this year.$0.54$0.35$0.19$0.23$0.16$0.07
2014Detailed filing. Detailed filing data is available for this year.$0.47$0.36$0.12$0.47$0.51$0.04
2013Detailed filing. Detailed filing data is available for this year.$0.51$0.35$0.15$0.22$0.24$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.50$0.35$0.15$0.15
2011Summary only. Only limited summary data is available for this year.$0.41$0.35$0.06$0.21$0.21$0.00