Civic Intelligence

Le Mars Business Initiative Corp

EIN 23-7043864 • 501(c)6 • Le Mars, IA

Profile

All activities are to enhance businesses in the community of le mars, iowa and to provide assistance in the development of the new wells blue bunny corporate campus.

50 Central Ave SELe Mars, IA 51031

growlemars.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

69th percentile

0.38x

Higher debt load relative to assets than 69% of similar nonprofits.

501(c)6 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

98th percentile

7.81x

Higher debt load relative to revenue than 98% of similar nonprofits.

501(c)6 • $10M-$25M nonprofits • Source year 2024

Net Margin

99th percentile

72%

Higher net margin than 99% of similar nonprofits.

501(c)6 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

8th percentile

$0

Higher top officer pay than 8% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)6 • $10M-$25M nonprofits • Source year 2024

Asset Growth

52nd percentile

6.1%

Faster asset growth than 52% of similar nonprofits.

501(c)6 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

15th percentile

-5.6%

Faster revenue growth than 15% of similar nonprofits.

501(c)6 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets69th percentile

Assets

Up

$22,715,276

Up $1,297,368 (+6.1%) from 2023

Liabilities

Up

$8,704,156

Up $494,888 (+6.0%) from 2023

Net Assets

Up

$14,011,120

Up $802,480 (+6.1%) from 2023

Operations
Liabilities / Revenue98th percentileNet Margin99th percentile

Revenue

Down

$1,113,825

Down $66,185 (-5.6%) from 2023

Expenses

Up

$311,345

Up $118,176 (+61%) from 2023

Net Income

Down

$802,480

Down $184,361 (-19%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth52nd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$40M$30M$20M$10M$0Assets 2010: $31,721,142Liabilities 2010: $23,341,414Net Assets 2010: $8,379,7282010Assets 2011: $31,138,623Liabilities 2011: $22,780,238Net Assets 2011: $8,358,3852011Assets 2012: $30,103,842Liabilities 2012: $21,723,361Net Assets 2012: $8,380,4812012Assets 2013: $29,160,546Liabilities 2013: $20,686,497Net Assets 2013: $8,474,0492013Assets 2014: $27,274,174Liabilities 2014: $19,332,358Net Assets 2014: $7,941,8162014Assets 2015: $28,042,095Liabilities 2015: $19,833,744Net Assets 2015: $8,208,3512015Assets 2016: $28,190,117Liabilities 2016: $19,690,692Net Assets 2016: $8,499,4252016Assets 2017: $27,158,713Liabilities 2017: $18,220,084Net Assets 2017: $8,938,6292017Assets 2018: $25,890,939Liabilities 2018: $16,382,677Net Assets 2018: $9,508,2622018Assets 2019: $24,396,558Liabilities 2019: $14,320,607Net Assets 2019: $10,075,9512019Assets 2020: $23,637,379Liabilities 2020: $13,029,156Net Assets 2020: $10,608,2232020Assets 2021: $22,448,291Liabilities 2021: $11,169,316Net Assets 2021: $11,278,9752021Assets 2022: $21,476,625Liabilities 2022: $9,254,826Net Assets 2022: $12,221,7992022Assets 2023: $21,417,908Liabilities 2023: $8,209,268Net Assets 2023: $13,208,6402023Assets 2024: $22,715,276Liabilities 2024: $8,704,156Net Assets 2024: $14,011,1202024

Highlighted filing

2024

Assets$22,715,276
Liabilities$8,704,156
Net Assets$14,011,120
Open 2024 Filing

Operations Trend

Revenue Growth15th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0-$500K-$1.0MExpenses 2010: $110,2822010Expenses 2011: $119,1752011Expenses 2012: $145,3282012Revenue 2013: $217,035Expenses 2013: $123,467Net Income 2013: $93,5682013Revenue 2014: -$374,470Expenses 2014: $157,762Net Income 2014: -$532,2322014Revenue 2015: $376,031Expenses 2015: $109,497Net Income 2015: $266,5342015Revenue 2016: $577,176Expenses 2016: $286,102Net Income 2016: $291,0742016Revenue 2017: $712,427Expenses 2017: $273,223Net Income 2017: $439,2042017Revenue 2018: $819,534Expenses 2018: $249,901Net Income 2018: $569,6332018Revenue 2019: $1,089,899Expenses 2019: $522,210Net Income 2019: $567,6892019Revenue 2020: $806,536Expenses 2020: $274,264Net Income 2020: $532,2722020Revenue 2021: $944,141Expenses 2021: $273,389Net Income 2021: $670,7522021Revenue 2022: $1,111,382Expenses 2022: $168,558Net Income 2022: $942,8242022Revenue 2023: $1,180,010Expenses 2023: $193,169Net Income 2023: $986,8412023Revenue 2024: $1,113,825Expenses 2024: $311,345Net Income 2024: $802,4802024

Highlighted filing

2024

Revenue$1,113,825
Expenses$311,345
Net Income$802,480
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$22,715,276
Liabilities
$8,704,156
Net assets
$14,011,120
Revenue
$1,113,825
Expenses
$311,345
Net income
$802,480
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$22.7$8.70$14.0$1.11$0.31$0.80
2023Detailed filing. Detailed filing data is available for this year.$21.4$8.21$13.2$1.18$0.19$0.99
2022Detailed filing. Detailed filing data is available for this year.$21.5$9.25$12.2$1.11$0.17$0.94
2021Detailed filing. Detailed filing data is available for this year.$22.4$11.2$11.3$0.94$0.27$0.67
2020Detailed filing. Detailed filing data is available for this year.$23.6$13.0$10.6$0.81$0.27$0.53
2019Detailed filing. Detailed filing data is available for this year.$24.4$14.3$10.1$1.09$0.52$0.57
2018Detailed filing. Detailed filing data is available for this year.$25.9$16.4$9.51$0.82$0.25$0.57
2017Detailed filing. Detailed filing data is available for this year.$27.2$18.2$8.94$0.71$0.27$0.44
2016Detailed filing. Detailed filing data is available for this year.$28.2$19.7$8.50$0.58$0.29$0.29
2015Detailed filing. Detailed filing data is available for this year.$28.0$19.8$8.21$0.38$0.11$0.27
2014Detailed filing. Detailed filing data is available for this year.$27.3$19.3$7.94$0.37$0.16$0.53
2013Detailed filing. Detailed filing data is available for this year.$29.2$20.7$8.47$0.22$0.12$0.09
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$30.1$21.7$8.38$0.15
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$31.1$22.8$8.36$0.12
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$31.7$23.3$8.38$0.11
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Apr 24, 2025
Return Version
2024v5.0
Gross Receipts
$4,136,411
Mission and Program Overview

Mission

All activities on the attached schedule are to enhance businesses in the community of le mars, iowa and to provide assistance in the development of the new wells blue bunny corporate campus.

All activities are to enhance businesses in the community of le mars, iowa and to provide assistance in the development of the new wells blue bunny corporate campus.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$19,544,418$21,439,925▲ $1,895,507
Savings and Temporary Cash Investments$1,018,671$848,193▼ $170,478
Other Notes and Loans Receivable, Net$702,348$248,106▼ $454,242
Cash and Non-Interest-Bearing Accounts$149,917$179,052▲ $29,135
Prepaid Expenses and Deferred Charges$2,554--
Total Assets$21,417,908$22,715,276▲ $1,297,368
Liabilities
Mortgage Notes Payable Secured by Investment Property$7,873,504$4,627,255▼ $3,246,249
Other Liabilities$335,764$4,076,901▲ $3,741,137
Total Liabilities$8,209,268$8,704,156▲ $494,888
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$12,228,575$13,170,480▲ $941,905
Net Assets With Donor Restrictions$980,065$840,640▼ $139,425
Total Net Assets Fund Balance$13,208,640$14,011,120▲ $802,480
Total Liabilities and Net Assets / Fund Balance$21,417,908$22,715,276▲ $1,297,368

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$16,032,590$14,012,862$30,045,452
Land$5,407,335-$619,875
Compensation and Service Providers
Top Officer Pay8th percentile

Board Members and Trustees

NameTitle
Mike WellsPresident
Adam BaumgartnerDirector
Adam LloydDirector
Brad CaveDirector
Brad PickDirector
Brian BrunsDirector
Dustin WrightDirector
Graham ForbesDirector
Jason VacuraDirector
Jeff BartholeDirector
Jerry SchmitzDirector
Josh KovarnaDirector
Kim KeleherDirector
Peggy SitzmannDirector
Rob BixenmanDirector
Steve WebnerDirector
Mark GaulSecretary
Micah LangTreasurer
Steve SchusterVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$73,890
Program Service Revenue
$5,691
Investment Income
$52
Other Revenue
$1,034,192
All Other Contributions
$1,000
Change in Net Assets
$802,480
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$311,345
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$106,926--$106,926
All Other Expenses$27,020$2,569-$29,589
Other Expenses$13,590--$13,590
Insurance-$9,101-$9,101
Fees for Services Legal-$8,947-$8,947
Office Expenses$8,425--$8,425
Advertising$7,789--$7,789
Total Functional Expenses$290,728$20,617$0$311,345
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Development Agreements$4,076,901
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
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 7A

“The lemars chamber of commerce and city of lemars are allowed to elect a stated number of positions to the governing body.”

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

“The return is reviewed by management before it is submitted to the irs.”

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

“Each year, the directors disclose their business affiliations and items that could potentially be conflicts of interest if the entity associates with the organizations the directors are affiliated with. The entity reviews its transactions to ensure no conflicts of interest have occurred.”

Form 990, Page 6, Part VI, Line 19

“The organization makes its governing documents, conflict of interst policy and financial statements available to the public upon individual request.”

Filing and Contact Details

Filer

Filer Name
Le Mars Business Initiative Corp
EIN
23-7043864
Phone
7125468821
Address
50 CENTRAL AVE SE, LE MARS, IA 51031

Signing Officer

Name
Micah Lang
Title
Treasurer
Phone
7125468821
Signed
2025-04-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Micah Lang
Formed
1998
Legal Domicile
Ia
Voting Board Members
20
Independent Board Members
20
Employees
0

Preparer

Firm
Williams & Company CPA Pc
Address
21 1ST AVENUE NW, LE MARS, IA 51031
Preparer
Graham a Forbes CPA
Phone
7125467801
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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13VICE PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990ProvidedToGvrnBodyInd0true
IRS990/FormationYr01998
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IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt020
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IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt04136411
IRS990/GrossRentsGrp/RealAmt02050203
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IRS990/IncludeFIN48FootnoteInd0false
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IRS990/InsuranceGrp/TotalAmt09101
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IRS990/InterestGrp/TotalAmt0106926
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IRS990/MissionDesc0ALL ACTIVITIES ARE TO ENHANCE BUSINESSES IN THE COMMUNITY OF LE MARS, IOWA AND TO PROVIDE ASSISTANCE IN THE DEVELOPMENT OF THE NEW WELLS BLUE BUNNY CORPORATE CAMPUS.
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IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt0-63976
IRS990/NetRentalIncomeOrLossGrp/ExclusionAmt0967447
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt0967447
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IRS990/NoListedPersonsCompensatedInd0X
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IRS990/OfficeExpensesGrp/ProgramServicesAmt08425
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IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherExpensesGrp/Desc0CONTRACT SERVICE EXPENSE
IRS990/OtherExpensesGrp/Desc1LOAN FORGIVENESS EXPENSE
IRS990/OtherExpensesGrp/Desc2REAL ESTATE TAX
IRS990/OtherExpensesGrp/Desc3SURVEY, TOPO, FIELD WORK
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IRS990/OtherExpensesGrp/ProgramServicesAmt144664
IRS990/OtherExpensesGrp/ProgramServicesAmt218889
IRS990/OtherExpensesGrp/ProgramServicesAmt313590
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IRS990/OtherRevenueMiscGrp/Desc1OTHER
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt130721
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IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt02554
IRS990/PrincipalOfficerNm0MICAH LANG
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IRS990/ProgramServiceRevenueGrp/Desc0PASS THROUGH LOAN INTEREST
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IRS990/PYContributionsGrantsAmt017575
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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/BuildingsGrp/BookValueAmt016032590
IRS990ScheduleD/BuildingsGrp/DepreciationAmt014012862
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt030045452
IRS990ScheduleD/LandGrp/BookValueAmt05407335
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt04787460
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0619875
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt04076901
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEVELOPMENT AGREEMENTS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt021439925
IRS990ScheduleD/TotalLiabilityAmt04076901
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE LEMARS CHAMBER OF COMMERCE AND CITY OF LEMARS ARE ALLOWED TO ELECT A STATED NUMBER OF POSITIONS TO THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE RETURN IS REVIEWED BY MANAGEMENT BEFORE IT IS SUBMITTED TO THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EACH YEAR, THE DIRECTORS DISCLOSE THEIR BUSINESS AFFILIATIONS AND ITEMS THAT COULD POTENTIALLY BE CONFLICTS OF INTEREST IF THE ENTITY ASSOCIATES WITH THE ORGANIZATIONS THE DIRECTORS ARE AFFILIATED WITH. THE ENTITY REVIEWS ITS TRANSACTIONS TO ENSURE NO CONFLICTS OF INTEREST HAVE OCCURRED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTERST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON INDIVIDUAL REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0LBIC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine2Txt0LEMARS BUSINESS INITIATIVE CORP
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0WD 2005 SPE LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine2Txt0WD 2005 SPE LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0202716538
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt017369755
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0IA
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0LAND RENT
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt02044803
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt050 CENTRAL AVE SE
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine2Txt050 CENTRAL AVE SE
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0LEMARS
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd0IA
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd051031
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IRS990/SignificantNewProgramSrvcInd0false
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IRS990/SubjectToProxyTaxInd0false
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