Civic Intelligence

Logan County Economic Development Corporation

990 • Fiscal year 2023 • EIN 26-0017546

Jan 01, 2023 to Dec 31, 2023 • Filed on Apr 09, 2024

Organization Profilesterling-logan.com
PO Box 72Sterling, CO 80751

(970) 521-7196

Siviq Scores

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

Liabilities / Assets

39th percentile

0.00x

Higher debt load relative to assets than 39% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

40th percentile

0.01x

Higher debt load relative to revenue than 40% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

71st percentile

18%

Higher net margin than 71% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

90th percentile

$113,473

Higher top officer pay than 90% of similar nonprofits.

Top officer pay equals 35.4% of source-year revenue.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

66th percentile

12%

Faster asset growth than 66% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

85th percentile

64%

Faster revenue growth than 85% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets39th percentile

Assets

Up

$546,358

Up $58,049 (+12%) from 2022

Net Assets

Up

$544,545

Up $57,891 (+12%) from 2022

Liabilities

Up

$1,813

Up $158 (+9.5%) from 2022

Revenue And Expenses
Liabilities / Revenue40th percentileNet Margin71st percentile

Revenue

Up

$320,715

Up $125,279 (+64%) from 2022

Expenses

Up

$262,824

Up $84,853 (+48%) from 2022

Net Income

Up

$57,891

Up $40,426 (+231%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth66th percentile

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

$800K$600K$400K$200K$0Assets 2011: $209,381Net Assets 2011: $209,3812011Assets 2012: $241,537Net Assets 2012: $241,5372012Assets 2013: $249,296Net Assets 2013: $249,2962013Assets 2014: $221,361Net Assets 2014: $221,3612014Assets 2015: $367,386Liabilities 2015: $0Net Assets 2015: $367,3862015Assets 2016: $290,086Liabilities 2016: $972Net Assets 2016: $289,1142016Assets 2017: $262,728Liabilities 2017: $1,029Net Assets 2017: $261,6992017Assets 2018: $250,951Liabilities 2018: $1,060Net Assets 2018: $249,8912018Assets 2019: $302,080Liabilities 2019: $816Net Assets 2019: $301,2642019Assets 2020: $392,549Liabilities 2020: $25,676Net Assets 2020: $366,8732020Assets 2021: $470,272Liabilities 2021: $1,083Net Assets 2021: $469,1892021Assets 2022: $488,309Liabilities 2022: $1,655Net Assets 2022: $486,6542022Assets 2023: $546,358Liabilities 2023: $1,813Net Assets 2023: $544,5452023Assets 2024: $752,228Liabilities 2024: $2,123Net Assets 2024: $750,1052024

Highlighted filing

2023

Assets$546,358
Liabilities$1,813
Net Assets$544,545
Open 2023 Filing

Operations Trend

Revenue Growth85th percentile

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

$600K$400K$200K$0-$200KRevenue 2011: $177,943Expenses 2011: $146,642Net Income 2011: $31,3012011Revenue 2012: $177,753Expenses 2012: $145,597Net Income 2012: $32,1562012Revenue 2013: $172,208Expenses 2013: $164,449Net Income 2013: $7,7592013Revenue 2014: $115,524Expenses 2014: $143,459Net Income 2014: -$27,9352014Revenue 2015: $419,913Expenses 2015: $273,888Net Income 2015: $146,0252015Revenue 2016: $162,464Expenses 2016: $240,736Net Income 2016: -$78,2722016Revenue 2017: $146,199Expenses 2017: $173,614Net Income 2017: -$27,4152017Revenue 2018: $149,496Expenses 2018: $161,304Net Income 2018: -$11,8082018Revenue 2019: $232,594Expenses 2019: $181,221Net Income 2019: $51,3732019Revenue 2020: $227,045Expenses 2020: $161,436Net Income 2020: $65,6092020Revenue 2021: $267,144Expenses 2021: $164,828Net Income 2021: $102,3162021Revenue 2022: $195,436Expenses 2022: $177,971Net Income 2022: $17,4652022Revenue 2023: $320,715Expenses 2023: $262,824Net Income 2023: $57,8912023Revenue 2024: $489,561Expenses 2024: $284,001Net Income 2024: $205,5602024

Highlighted filing

2023

Revenue$320,715
Expenses$262,824
Net Income$57,891
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Apr 9, 2024
Return Version
2023v5.0
Gross Receipts
$320,715
Mission and Program Overview

Mission

The organization is responsible for economic development activities that includes business recruitment, retention and expansion, and related infrastructure development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$305,656$439,318▲ $133,662
Cash and Non-Interest-Bearing Accounts$182,653$100,002▼ $82,651
Land, Buildings, and Equipment, Net-$5,572-
Accounts Receivable-$1,466-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$488,309$546,358▲ $58,049
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$1,155$1,313▲ $158
Deferred Revenue$500$500→ $0
Total Liabilities$1,655$1,813▲ $158
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$486,654$544,545▲ $57,891
Total Net Assets Fund Balance$486,654$544,545▲ $57,891
Total Liabilities and Net Assets / Fund Balance$488,309$546,358▲ $58,049

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,572$8,212$13,784
Compensation and Service Providers
Top Officer Pay90th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Trae MillerExecutive DirectorFT$113,473$113,473

Board Members and Trustees

NameTitle
Tom KielPresident
Chip PowellVice President
Albert DelgadoDirector
Brenda DesormeauxDirector
Cade ReynoldsDirector
Jerry SonnenbergDirector
Lisa LeFevreDirector
Ned ReschDirector
Ryan EtlDirector
Wendy JermanSecretary
Andrew FritzlerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$276,846
Program Service Revenue
$30,782
Investment Income
$12,877
Other Revenue
$210
All Other Contributions
$86,846
Change in Net Assets
$57,891
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$137,734
Salaries, Compensation, and Employee Benefits$125,090
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$85,105$28,368-$113,473
Payroll Taxes$6,734$2,244-$8,978
Occupancy-$8,244-$8,244
Travel$7,016--$7,016
All Other Expenses$1,055$3,771-$4,826
Other Expenses$3,866--$3,866
Insurance-$3,024-$3,024
Other Salaries and Wages$1,294$431-$1,725
Fees for Services Accounting-$1,434-$1,434
Office Expenses-$1,013-$1,013
Depreciation Depletion$929--$929
Other Employee Benefits$686$228-$914
Fees for Services Other-$525-$525
Conferences and Meetings-$370-$370
Total Functional Expenses$213,172$49,652$0$262,824
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The executive director and treasurer review Form 990 and related schedules. Upon satisfaction of the information reported on Form 990 and related schedules the return is approved for filing.”

Form 990, Part VI, Section C, Line 19

“All governing documents, policies and financial information is maintained at the organization's office and is available upon request by the public.”

Filing and Contact Details

Filer

Filer Name
Logan County Economic Development
EIN
26-0017546
Phone
9705217196
Address
PO BOX 72, STERLING, CO 80751

Signing Officer

Name
Andrew Fritzler
Title
Treasurer
Signed
2024-04-09
Discuss with paid preparer
Yes

Organization Details

Voting Board Members
11
Independent Board Members
11
Employees
2

Preparer

Firm
Lauer Szabo & Associates PC
Address
PO Box 1886 - 205 Main Street, Sterling, CO 80751
Preparer
Michael E Lauer
Phone
9705222218
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IRS990/Desc0Strengthens the economy through retention & expansion of existing businesses, new business recruitment, resources point of contact and development of needed infrastructure like housing and workforce. Operate and expanding a community co-working space to provide flexible work space for startup businesses, freelancers, and remote workers. Building entrepreneur support systems by continuing to host annual Demystifying Entrepreneurship workshop, hosting regular meet-ups, and providing resources for entrepreneurs.
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IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0228
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0686
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0914
IRS990/OtherExpensesGrp/Desc0Special Project Reinvestment
IRS990/OtherExpensesGrp/Desc1Enterprise Pitch Competition
IRS990/OtherExpensesGrp/Desc2Coworking Project
IRS990/OtherExpensesGrp/Desc3Events
IRS990/OtherExpensesGrp/ProgramServicesAmt056000
IRS990/OtherExpensesGrp/ProgramServicesAmt134209
IRS990/OtherExpensesGrp/ProgramServicesAmt216278
IRS990/OtherExpensesGrp/ProgramServicesAmt33866
IRS990/OtherExpensesGrp/TotalAmt056000
IRS990/OtherExpensesGrp/TotalAmt134209
IRS990/OtherExpensesGrp/TotalAmt216278
IRS990/OtherExpensesGrp/TotalAmt33866
IRS990/OtherRevenueMiscGrp/Desc0Other Income
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0210
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0210
IRS990/OtherRevenueTotalAmt0210
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0431
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt01294
IRS990/OtherSalariesAndWagesGrp/TotalAmt01725
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt02244
IRS990/PayrollTaxesGrp/ProgramServicesAmt06734
IRS990/PayrollTaxesGrp/TotalAmt08978
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0Coworking Income
IRS990/ProgramServiceRevenueGrp/Desc1Sponsorships
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt030782
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt030782
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt057891
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0305656
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0439318
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0268602
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0153750
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0230591
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0191950
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0211125
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01056018
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt012877
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt01108
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt01799
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt02920
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt01672
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt020376
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt0210
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt0312
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt0390
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt0463
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt0361
IRS990ScheduleA/OtherIncome170Grp/TotalAmt01736
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.97950
IRS990ScheduleA/PublicSupportPY170Pct00.98910
IRS990ScheduleA/PublicSupportTotal170Amt01056018
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0268602
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0153750
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0230591
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0191950
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0211125
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01056018
IRS990ScheduleA/TotalSupportAmt01078130
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
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/BookValueAmt05572
IRS990ScheduleD/BuildingsGrp/DepreciationAmt08212
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt013784
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05572
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The executive director and treasurer review Form 990 and related schedules. Upon satisfaction of the information reported on Form 990 and related schedules the return is approved for filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1All governing documents, policies and financial information is maintained at the organization's office and is available upon request by the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, Line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0488309
IRS990/TotalAssetsEOYAmt0546358
IRS990/TotalAssetsGrp/BOYAmt0488309
IRS990/TotalAssetsGrp/EOYAmt0546358
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0276846
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt049652
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0213172
IRS990/TotalFunctionalExpensesGrp/TotalAmt0262824
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01655
IRS990/TotalLiabilitiesEOYAmt01813
IRS990/TotalLiabilitiesGrp/BOYAmt01655
IRS990/TotalLiabilitiesGrp/EOYAmt01813
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0486654
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0544545
IRS990/TotalProgramServiceExpensesAmt0213172
IRS990/TotalProgramServiceRevenueAmt030782

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$546,358
Liabilities
$1,813
Net assets
$544,545
Revenue
$320,715
Expenses
$262,824
Net income
$57,891
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$7.52$0.02$7.50$4.90$2.84$2.06
2023Detailed filing. Detailed filing data is available for this year.$5.46$0.02$5.45$3.21$2.63$0.58
2022Detailed filing. Detailed filing data is available for this year.$4.88$0.02$4.87$1.95$1.78$0.17
2021Detailed filing. Detailed filing data is available for this year.$4.70$0.01$4.69$2.67$1.65$1.02
2020Detailed filing. Detailed filing data is available for this year.$3.93$0.26$3.67$2.27$1.61$0.66
2019Detailed filing. Detailed filing data is available for this year.$3.02$0.01$3.01$2.33$1.81$0.51
2018Detailed filing. Detailed filing data is available for this year.$2.51$0.01$2.50$1.49$1.61$0.12
2017Detailed filing. Detailed filing data is available for this year.$2.63$0.01$2.62$1.46$1.74$0.27
2016Detailed filing. Detailed filing data is available for this year.$2.90$0.01$2.89$1.62$2.41$0.78
2015Detailed filing. Detailed filing data is available for this year.$3.67$0.00$3.67$4.20$2.74$1.46
2014Detailed filing. Detailed filing data is available for this year.$2.21$2.21$1.16$1.43$0.28
2013Detailed filing. Detailed filing data is available for this year.$2.49$2.49$1.72$1.64$0.08
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.42$2.42$1.78$1.46$0.32
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.09$2.09$1.78$1.47$0.31