Civic Intelligence

Lee County Economic Development Group Inc.

990 • Fiscal year 2020 • EIN 04-3605260

Jul 01, 2019 to Jun 30, 2020 • Filed on Oct 29, 2020

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

87th percentile

0.62x

Higher debt load relative to assets than 87% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

91st percentile

1.27x

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

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Net Margin

75th percentile

24%

Higher net margin than 75% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

91st percentile

$121,094

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 26.4% of source-year revenue.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Asset Growth

70th percentile

22%

Faster asset growth than 70% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

70th percentile

14%

Faster revenue growth than 70% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets87th percentile

Assets

Up

$944,878

Up $169,050 (+22%) from 2019

Net Assets

Up

$362,648

Up $110,087 (+44%) from 2019

Liabilities

Up

$582,230

Up $58,963 (+11%) from 2019

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin75th percentile

Revenue

Up

$457,877

Up $57,247 (+14%) from 2019

Expenses

Down

$347,790

Down $104,277 (-23%) from 2019

Net Income

Up

$110,087

Up $161,524 (+314%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth70th 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

2020

Assets$944,878
Liabilities$582,230
Net Assets$362,648
Open 2020 Filing

Operations Trend

Revenue Growth70th 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

2020

Revenue$457,877
Expenses$347,790
Net Income$110,087
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Oct 29, 2020
Return Version
2019v5.0
Gross Receipts
$457,877
Mission and Program Overview

Mission

Economic development for the lee county, iowa community

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$252,561$362,648▲ $110,087
Cash and Non-Interest-Bearing Accounts$179,168$343,398▲ $164,230
Accounts Receivable$52,000$57,750▲ $5,750
Savings and Temporary Cash Investments$32,310$32,326▲ $16
Land, Buildings, and Equipment, Net$25,684$14,738▼ $10,946
Total Assets$775,828$944,878▲ $169,050
Other Assets Total$486,666$496,666▲ $10,000
Liabilities
Mortgage Notes Payable Secured by Investment Property$400,000$400,000→ $0
Accounts Payable and Accrued Expenses$123,267$145,530▲ $22,263
Unsecured Notes Loans Payable-$36,700-
Total Liabilities$523,267$582,230▲ $58,963
Net Assets / Fund Balance
Total Net Assets Fund Balance$252,561$362,648▲ $110,087
Total Liabilities and Net Assets / Fund Balance$775,828$944,878▲ $169,050

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$13,822$17,278$31,100
Equipment$916$9,759$10,675
Other Assets Org$96,666--
Compensation and Service Providers
Top Officer Pay91st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Dennis FraiseChief ExecutFT$121,094$121,094

Board Members and Trustees

NameTitle
Jamie BaierChairman
David SchwarzPast Chair
Scott SmithVice Chair
Andrea RogersDirector
Bob Huffman JrDirector
Bryan LangerudDirector
Darrell AllmanDirector
Gary FolluoDirector
Michael KlauserDirector
Mickey MchaleDirector
Mike NorrisDirector
Phil HechtDirector
Rick LarkinDirector
Scott PiperDirector
Jenny SteffensmeierSecretary
Michael MohrfeldTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$436,991
Program Service Revenue
$0
Investment Income
$20,886
Other Revenue
$0
All Other Contributions
$236,991
Change in Net Assets
$110,087
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$221,173
Other Expenses$126,617
Total Fundraising Expense$9,460
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$121,094--$121,094
Comp Disqual Persons$77,550--$77,550
Interest-$20,000-$20,000
Travel$11,481$6,627-$18,108
Fees for Services Other$7,250$515$9,460$17,225
Payroll Taxes$16,080--$16,080
Depreciation Depletion$10,367$579-$10,946
Conferences and Meetings$10,560--$10,560
Occupancy-$8,155-$8,155
Information Technology-$6,605-$6,605
Fees for Services Accounting-$6,490-$6,490
Other Employee Benefits$6,449--$6,449
Office Expenses$2,539$3,508-$6,047
Other Expenses$5,459$4,249-$4,249
Insurance-$3,283-$3,283
Fees for Services Legal-$1,233-$1,233
Total Functional Expenses$277,086$61,244$9,460$347,790
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 35% controlled entity
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
Dennis Fraise
Title
Chief Executive Offi
Phone
3195242535
Signed
2020-10-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dennis Fraise
Formed
2002
Legal Domicile
Ia
Voting Board Members
13
Independent Board Members
13
Employees
2
Volunteers
5

Preparer

Firm
Menke & Company
Address
3915 MAIN ST, KEOKUK, IA 52632-2010
Preparer
Ann M Menke
Phone
3195241040
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IRS990/NetAssetsOrFundBalancesBOYAmt0252561
IRS990/NetAssetsOrFundBalancesEOYAmt0362648
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ManagementAndGeneralAmt08155
IRS990/OccupancyGrp/TotalAmt08155
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt03508
IRS990/OfficeExpensesGrp/ProgramServicesAmt02539
IRS990/OfficeExpensesGrp/TotalAmt06047
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0486666
IRS990/OtherAssetsTotalGrp/EOYAmt0496666
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt06449
IRS990/OtherEmployeeBenefitsGrp/TotalAmt06449
IRS990/OtherExpensesGrp/Desc0GROW LEE
IRS990/OtherExpensesGrp/Desc1TRAINING
IRS990/OtherExpensesGrp/Desc2DUES AND SUBSCRIPTIONS
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt04249
IRS990/OtherExpensesGrp/ProgramServicesAmt08257
IRS990/OtherExpensesGrp/ProgramServicesAmt15459
IRS990/OtherExpensesGrp/TotalAmt08257
IRS990/OtherExpensesGrp/TotalAmt15459
IRS990/OtherExpensesGrp/TotalAmt24249
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/ProgramServicesAmt016080
IRS990/PayrollTaxesGrp/TotalAmt016080
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0DENNIS FRAISE
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0380100
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt020530
IRS990/PYOtherExpensesAmt0195331
IRS990/PYRevenuesLessExpensesAmt0-51437
IRS990/PYSalariesCompEmpBnftPaidAmt0256736
IRS990/PYTotalExpensesAmt0452067
IRS990/PYTotalRevenueAmt0400630
IRS990/ReconcilationRevenueExpnssAmt0110087
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0252561
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0362648
IRS990/SavingsAndTempCashInvstGrp/BOYAmt032310
IRS990/SavingsAndTempCashInvstGrp/EOYAmt032326
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt08,780
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0436991
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0380100
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0413050
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0439500
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0482350
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt02151991
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt020886
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt020530
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt017594
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt018111
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0152691
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0229812
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt03980
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt04800
IRS990ScheduleA/OtherIncome170Grp/TotalAmt08780
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.73850
IRS990ScheduleA/PublicSupportPY170Pct00.84210
IRS990ScheduleA/PublicSupportTotal170Amt01765427
IRS990ScheduleA/SubstantialContributorsTotAmt0386564
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0436991
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0380100
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0413050
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0439500
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0482350
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02151991
IRS990ScheduleA/TotalSupportAmt02390583
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/BookValueAmt0916
IRS990ScheduleD/EquipmentGrp/DepreciationAmt09759
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt010675
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0400000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt196666
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0NOTES RECEIVABLE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1INTEREST RECEIVABLE
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt013822
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt017278
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt031100
IRS990ScheduleD/TotalBookValueLandBuildingsAmt014738
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0496666
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/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
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0775828
IRS990/TotalAssetsEOYAmt0944878
IRS990/TotalAssetsGrp/BOYAmt0775828
IRS990/TotalAssetsGrp/EOYAmt0944878
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0436991
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt09460
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt061244
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0277086
IRS990/TotalFunctionalExpensesGrp/TotalAmt0347790
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0523267
IRS990/TotalLiabilitiesEOYAmt0582230
IRS990/TotalLiabilitiesGrp/BOYAmt0523267
IRS990/TotalLiabilitiesGrp/EOYAmt0582230
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0252561
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0362648
IRS990/TotalProgramServiceExpensesAmt0277086
IRS990/TotalReportableCompFromOrgAmt0121094
IRS990/TotalRevenueGrp/ExclusionAmt020886
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0457877
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0775828
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0944878
IRS990/TravelGrp/ManagementAndGeneralAmt06627
IRS990/TravelGrp/ProgramServicesAmt011481
IRS990/TravelGrp/TotalAmt018108
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$944,878
Liabilities
$582,230
Net assets
$362,648
Revenue
$457,877
Expenses
$347,790
Net income
$110,087
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