Civic Intelligence

Lee County Economic Development Group Inc.

990 • Fiscal year 2019 • EIN 04-3605260

Jul 01, 2018 to Jun 30, 2019 • Filed on Oct 29, 2019

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

89th percentile

0.67x

Higher debt load relative to assets than 89% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

92nd percentile

1.31x

Higher debt load relative to revenue than 92% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Net Margin

18th percentile

-13%

Higher net margin than 18% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

87th percentile

$97,394

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 24.3% of source-year revenue.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Asset Growth

29th percentile

-3.3%

Faster asset growth than 29% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

28th percentile

-7.0%

Faster revenue growth than 28% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets89th percentile

Assets

Down

$775,828

Down $26,139 (-3.3%) from 2018

Net Assets

Down

$252,561

Down $51,437 (-17%) from 2018

Liabilities

Up

$523,267

Up $25,298 (+5.1%) from 2018

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin18th percentile

Revenue

Down

$400,630

Down $30,014 (-7.0%) from 2018

Expenses

Down

$452,067

Down $296 (-0.1%) from 2018

Net Income

Down

-$51,437

Down $29,718 (-137%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth29th 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

2019

Assets$775,828
Liabilities$523,267
Net Assets$252,561
Open 2019 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

2019

Revenue$400,630
Expenses$452,067
Net Income-$51,437
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Oct 29, 2019
Return Version
2018v3.1
Gross Receipts
$400,630
Mission and Program Overview

Mission

Economic development for the lee county, iowa community

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$303,998$252,561▼ $51,437
Cash and Non-Interest-Bearing Accounts$253,959$179,168▼ $74,791
Accounts Receivable$37,000$52,000▲ $15,000
Savings and Temporary Cash Investments$32,268$32,310▲ $42
Land, Buildings, and Equipment, Net$2,074$25,684▲ $23,610
Total Assets$801,967$775,828▼ $26,139
Other Assets Total$476,666$486,666▲ $10,000
Liabilities
Mortgage Notes Payable Secured by Investment Property$400,000$400,000→ $0
Accounts Payable and Accrued Expenses$97,969$123,267▲ $25,298
Total Liabilities$497,969$523,267▲ $25,298
Net Assets / Fund Balance
Total Net Assets Fund Balance$303,998$252,561▼ $51,437
Total Liabilities and Net Assets / Fund Balance$801,967$775,828▼ $26,139

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$24,189$6,911$31,100
Equipment$1,495$9,180$10,675
Other Assets Org$86,666--
Compensation and Service Providers
Top Officer Pay87th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Dennis FraiseChief ExecutFT$97,394$97,394

Board Members and Trustees

NameTitle
Dave SchwarzChairman
Kathy GabelVice Chair
Andrea RogersDirector
Bob Huffman JrDirector
Bryan LangerudDirector
Darrell AllmanDirector
Gary FolluoDirector
Jamie BaierDirector
Michael KlauserDirector
Michael MohrfeldDirector
Mickey MchaleDirector
Mike NorrisDirector
Richard LarkinDirector
Scott PiperDirector
Scott SmithDirector
Jenny SteffensmeierSecretary
Phil HechtTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$380,100
Program Service Revenue
$0
Investment Income
$20,530
Other Revenue
$0
All Other Contributions
$170,100
Change in Net Assets
$-51,437
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$256,736
Other Expenses$195,331
Total Fundraising Expense$84,044
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Comp Disqual Persons$139,749--$139,749
Current Officers, Directors, Trustees, and Key Employees$97,394--$97,394
Fees for Services Other--$84,044$84,044
Interest-$20,000-$20,000
Payroll Taxes$19,593--$19,593
Information Technology-$13,351-$13,351
Office Expenses$3,815$5,978-$9,793
Occupancy-$7,945-$7,945
Travel$2,887$4,741-$7,628
Depreciation Depletion$6,911$579-$7,490
Fees for Services Accounting-$6,825-$6,825
Advertising$5,551--$5,551
Other Expenses$7,011$5,435-$5,435
Insurance-$3,288-$3,288
Conferences and Meetings$3,169--$3,169
Fees for Services Legal-$2,055-$2,055
Total Functional Expenses$297,826$70,197$84,044$452,067
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
Chairman
Phone
3195242535
Signed
2019-10-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dave Schwarz
Formed
2002
Legal Domicile
Ia
Voting Board Members
14
Independent Board Members
14
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 0 84,044”

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IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0ECONOMIC DEVELOPMENT FOR THE LEE COUNTY, IOWA COMMUNITY
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt0400000
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt0400000
IRS990/NetAssetsOrFundBalancesBOYAmt0303998
IRS990/NetAssetsOrFundBalancesEOYAmt0252561
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ManagementAndGeneralAmt07945
IRS990/OccupancyGrp/TotalAmt07945
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt05978
IRS990/OfficeExpensesGrp/ProgramServicesAmt03815
IRS990/OfficeExpensesGrp/TotalAmt09793
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0476666
IRS990/OtherAssetsTotalGrp/EOYAmt0486666
IRS990/OtherExpensesGrp/Desc0TRAINING
IRS990/OtherExpensesGrp/Desc1GROW LEE
IRS990/OtherExpensesGrp/Desc2DUES AND SUBSCRIPTIONS
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt05435
IRS990/OtherExpensesGrp/ProgramServicesAmt011746
IRS990/OtherExpensesGrp/ProgramServicesAmt17011
IRS990/OtherExpensesGrp/TotalAmt011746
IRS990/OtherExpensesGrp/TotalAmt17011
IRS990/OtherExpensesGrp/TotalAmt25435
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/ProgramServicesAmt019593
IRS990/PayrollTaxesGrp/TotalAmt019593
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0DAVE SCHWARZ
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0413050
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt017594
IRS990/PYOtherExpensesAmt0168975
IRS990/PYRevenuesLessExpensesAmt0-21719
IRS990/PYSalariesCompEmpBnftPaidAmt0283388
IRS990/PYTotalExpensesAmt0452363
IRS990/PYTotalRevenueAmt0430644
IRS990/ReconcilationRevenueExpnssAmt0-51437
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0303998
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0252561
IRS990/SavingsAndTempCashInvstGrp/BOYAmt032268
IRS990/SavingsAndTempCashInvstGrp/EOYAmt032310
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0380100
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0413050
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0439500
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0482350
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0471838
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt02186838
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt020530
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt017594
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt018111
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0152691
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0157
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0209083
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt03980
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt04800
IRS990ScheduleA/OtherIncome170Grp/TotalAmt08780
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.84210
IRS990ScheduleA/PublicSupportPY170Pct00.91100
IRS990ScheduleA/PublicSupportTotal170Amt02024932
IRS990ScheduleA/SubstantialContributorsTotAmt0161906
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0380100
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0413050
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0439500
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0482350
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0471838
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02186838
IRS990ScheduleA/TotalSupportAmt02404701
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/BookValueAmt01495
IRS990ScheduleD/EquipmentGrp/DepreciationAmt09180
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt010675
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0400000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt186666
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0NOTES RECEIVABLE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1INTEREST RECEIVABLE
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt024189
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt06911
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt031100
IRS990ScheduleD/TotalBookValueLandBuildingsAmt025684
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0486666
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 0 84,044
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/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0801967
IRS990/TotalAssetsEOYAmt0775828
IRS990/TotalAssetsGrp/BOYAmt0801967
IRS990/TotalAssetsGrp/EOYAmt0775828
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0380100
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt084044
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt070197
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0297826
IRS990/TotalFunctionalExpensesGrp/TotalAmt0452067
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0497969
IRS990/TotalLiabilitiesEOYAmt0523267
IRS990/TotalLiabilitiesGrp/BOYAmt0497969
IRS990/TotalLiabilitiesGrp/EOYAmt0523267
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0303998
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0252561
IRS990/TotalProgramServiceExpensesAmt0297826
IRS990/TotalReportableCompFromOrgAmt097394
IRS990/TotalRevenueGrp/ExclusionAmt020530
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0400630

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$775,828
Liabilities
$523,267
Net assets
$252,561
Revenue
$400,630
Expenses
$452,067
Net income
-$51,437
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