Civic Intelligence

Palo Alto County Economic

EIN 37-1524573 • 501(c)6 • Algona, IA

Profile

The palo alto county economic development corporation will serve as a facilitator of economic development by encouraging and promoting growth in the areas of existing businesses/expansion, job retention, marketing, tourism, and to provide leadership to help improve the quality of life for all residents in palo alto county.

106 S Dodge St Suite 210Algona, IA 50511

www.paloaltoiowa.com

Siviq Scores

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

Liabilities / Assets

49th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)6 • <$500k nonprofits • Source year 2025

Liabilities / Revenue

51st percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)6 • <$500k nonprofits • Source year 2025

Net Margin

63rd percentile

7.0%

Higher net margin than 63% of similar nonprofits.

501(c)6 • <$500k nonprofits • Source year 2025

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

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

501(c)6 • <$500k nonprofits • Source year 2025

Asset Growth

59th percentile

3.1%

Faster asset growth than 59% of similar nonprofits.

501(c)6 • <$500k nonprofits • Annualized from 2024 to 2025

Revenue Growth

42nd percentile

-5.3%

Faster revenue growth than 42% of similar nonprofits.

501(c)6 • <$500k nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets49th percentile

Assets

Up

$423,056

Up $12,638 (+3.1%) from 2024

Liabilities

Flat

$0

Flat from 2024

Net Assets

Up

$423,056

Up $12,638 (+3.1%) from 2024

Operations
Liabilities / Revenue51st percentileNet Margin63rd percentile

Revenue

Down

$180,276

Down $10,153 (-5.3%) from 2024

Expenses

Down

$167,638

Down $6,952 (-4.0%) from 2024

Net Income

Down

$12,638

Down $3,201 (-20%) from 2024

Trend Graphs

Balance Sheet Trend

Asset Growth59th percentile

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

$600K$400K$200K$0Assets 2011: $307,904Liabilities 2011: $3,856Net Assets 2011: $304,0482011Assets 2012: $352,386Liabilities 2012: $0Net Assets 2012: $352,3862012Assets 2013: $373,838Liabilities 2013: $0Net Assets 2013: $373,8382013Assets 2014: $446,283Liabilities 2014: $0Net Assets 2014: $446,2832014Assets 2015: $415,223Liabilities 2015: $0Net Assets 2015: $415,2232015Assets 2016: $367,513Liabilities 2016: $0Net Assets 2016: $367,5132016Assets 2017: $313,736Liabilities 2017: $0Net Assets 2017: $313,7362017Assets 2018: $260,907Liabilities 2018: $0Net Assets 2018: $260,9072018Assets 2019: $288,243Liabilities 2019: $0Net Assets 2019: $288,2432019Assets 2020: $306,293Liabilities 2020: $8,524Net Assets 2020: $297,7692020Assets 2021: $358,378Liabilities 2021: $0Net Assets 2021: $358,3782021Assets 2022: $380,292Liabilities 2022: $0Net Assets 2022: $380,2922022Assets 2023: $394,579Liabilities 2023: $0Net Assets 2023: $394,5792023Assets 2024: $410,418Liabilities 2024: $0Net Assets 2024: $410,4182024Assets 2025: $423,056Liabilities 2025: $0Net Assets 2025: $423,0562025

Highlighted filing

2025

Assets$423,056
Liabilities$0
Net Assets$423,056
Open 2025 Filing

Operations Trend

Revenue Growth42nd percentile

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

$300K$200K$100K$0-$100KRevenue 2011: $199,915Expenses 2011: $168,412Net Income 2011: $31,5032011Expenses 2012: $159,1152012Expenses 2013: $200,0712013Revenue 2014: $243,945Expenses 2014: $171,500Net Income 2014: $72,4452014Revenue 2015: $158,737Expenses 2015: $189,797Net Income 2015: -$31,0602015Revenue 2016: $143,630Expenses 2016: $191,340Net Income 2016: -$47,7102016Revenue 2017: $136,031Expenses 2017: $189,808Net Income 2017: -$53,7772017Revenue 2018: $134,543Expenses 2018: $187,372Net Income 2018: -$52,8292018Revenue 2019: $196,909Expenses 2019: $169,573Net Income 2019: $27,3362019Revenue 2020: $193,684Expenses 2020: $184,158Net Income 2020: $9,5262020Revenue 2021: $225,378Expenses 2021: $164,769Net Income 2021: $60,6092021Revenue 2022: $189,149Expenses 2022: $167,235Net Income 2022: $21,9142022Revenue 2023: $194,410Expenses 2023: $180,123Net Income 2023: $14,2872023Revenue 2024: $190,429Expenses 2024: $174,590Net Income 2024: $15,8392024Revenue 2025: $180,276Expenses 2025: $167,638Net Income 2025: $12,6382025

Highlighted filing

2025

Revenue$180,276
Expenses$167,638
Net Income$12,638
Open 2025 Filing

Filings

Most recent year

2025 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$423,056
Liabilities
$0
Net assets
$423,056
Revenue
$180,276
Expenses
$167,638
Net income
$12,638
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.23$0.00$4.23$1.80$1.68$0.13
2024Detailed filing. Detailed filing data is available for this year.$4.10$0.00$4.10$1.90$1.75$0.16
2023Detailed filing. Detailed filing data is available for this year.$3.95$0.00$3.95$1.94$1.80$0.14
2022Detailed filing. Detailed filing data is available for this year.$3.80$0.00$3.80$1.89$1.67$0.22
2021Detailed filing. Detailed filing data is available for this year.$3.58$0.00$3.58$2.25$1.65$0.61
2020Detailed filing. Detailed filing data is available for this year.$3.06$0.09$2.98$1.94$1.84$0.10
2019Detailed filing. Detailed filing data is available for this year.$2.88$0.00$2.88$1.97$1.70$0.27
2018Detailed filing. Detailed filing data is available for this year.$2.61$0.00$2.61$1.35$1.87$0.53
2017Detailed filing. Detailed filing data is available for this year.$3.14$0.00$3.14$1.36$1.90$0.54
2016Detailed filing. Detailed filing data is available for this year.$3.68$0.00$3.68$1.44$1.91$0.48
2015Detailed filing. Detailed filing data is available for this year.$4.15$0.00$4.15$1.59$1.90$0.31
2014Detailed filing. Detailed filing data is available for this year.$4.46$0.00$4.46$2.44$1.72$0.72
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.74$0.00$3.74$2.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.52$0.00$3.52$1.59
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.08$0.04$3.04$2.00$1.68$0.32
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Oct 30, 2025
Return Version
2024v5.0
Gross Receipts
$180,276
Mission and Program Overview

Mission

The palo alto county economic development corporation will serve as a facilitator of economic development by encouraging and promoting growth in the areas of existing businesses/expansion, job retention, marketing, tourism, and to provide leadership to help improve the quality of life for all residents in palo alto county.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$410,418$423,056▲ $12,638
Cash and Non-Interest-Bearing Accounts$192,584$176,973▼ $15,611
Other Notes and Loans Receivable, Net$130,010$146,407▲ $16,397
Savings and Temporary Cash Investments$87,824$99,676▲ $11,852
Total Assets$410,418$423,056▲ $12,638
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$410,418$423,056▲ $12,638
Total Liabilities and Net Assets / Fund Balance$410,418$423,056▲ $12,638

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings-$28,899$28,899
Compensation and Service Providers
Top Officer Pay77th percentile

Board Members and Trustees

NameTitle
Tony BrugmanPresident
Beth ElmanDirector
Brian MalmDirector
Craig MerrillDirector
Ivan DalenDirector
Kevin SchumacherDirector
Larry AkridgeDirector
Linda ThilgesDirector
Roger FaulstickDirector
Rick BrennanPast Preside
Kim KibbieSecretary
Scott StokesTreasurer
Jonathan MoeVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$172,844
Program Service Revenue
$0
Investment Income
$7,432
Other Revenue
$0
All Other Contributions
$42,412
Change in Net Assets
$12,638
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$117,185
Other Expenses$50,453
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$28,227$28,227-$56,454
Other Salaries and Wages-$47,752-$47,752
Occupancy$10,424$3,475-$13,899
Pension Plan Contributions$2,910$5,978-$8,888
Conferences and Meetings$5,308--$5,308
Other Employee Benefits$4,091--$4,091
Office Expenses$3,763--$3,763
Insurance-$3,550-$3,550
Travel$3,072--$3,072
All Other Expenses$1,615$965-$2,580
Other Expenses$3,000$1,800-$1,800
Fees for Services Accounting-$1,515-$1,515
Advertising$652--$652
Total Functional Expenses$72,554$95,084$0$167,638
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
No
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

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Palo Alto County Economic
EIN
37-1524573
Phone
5152957979
Address
106 S DODGE ST SUITE 210, ALGONA, IA 50511

Signing Officer

Name
Tod Faris
Title
Executive Direc
Phone
5152957979
Signed
2025-10-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tony Brugman
Formed
2006
Legal Domicile
Ia
Voting Board Members
13
Independent Board Members
13
Employees
0
Volunteers
2

Preparer

Firm
Erpelding Voigt & Co Llp
Address
307 E CALL STREET, ALGONA, IA 50511
Preparer
Jennifer E Penning
Phone
5152957275
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The palo alto county economic development corporation will serve as a facilitator of economic development by encouraging and promoting growth in the areas of existing businesses/expansion, job retention, marketing, tourism, and to provide leadership to help improve the quality of life for all residents in palo alto county.”

Raw XML Appendix355 raw XML fields

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/OtherExpensesGrp/Desc1SUPPLIES
IRS990/OtherExpensesGrp/Desc2ADMINISTRATION FEES
IRS990/OtherExpensesGrp/Desc3TELEPHONE
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt01822
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt11800
IRS990/OtherExpensesGrp/ProgramServicesAmt05464
IRS990/OtherExpensesGrp/ProgramServicesAmt14028
IRS990/OtherExpensesGrp/ProgramServicesAmt23000
IRS990/OtherExpensesGrp/TotalAmt07286
IRS990/OtherExpensesGrp/TotalAmt14028
IRS990/OtherExpensesGrp/TotalAmt23000
IRS990/OtherExpensesGrp/TotalAmt31800
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt047752
IRS990/OtherSalariesAndWagesGrp/TotalAmt047752
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0130010
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0146407
IRS990/PartialLiquidationInd0false
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt05978
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt02910
IRS990/PensionPlanContributionsGrp/TotalAmt08888
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0TONY BRUGMAN
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgSrvcAccomActy2Grp/Desc0CONTINUE TO FUND AND PROVIDE LOANS TO BUSINESSES AND INDUSTRIES THROUGH THE PALO ALTO COUNTY REVOLVING LOAN FUND. THIS FUND PROVIDES A SOURCE OF FINANCING, WHICH MAY NOT OTHERWISE BE AVAILABLE WITHIN THE COUNTY FOR LOCAL EXPANDING OR START-UP BUSINESSES.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt03000
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0182613
IRS990/PYInvestmentIncomeAmt07816
IRS990/PYOtherExpensesAmt056506
IRS990/PYRevenuesLessExpensesAmt015839
IRS990/PYSalariesCompEmpBnftPaidAmt0118084
IRS990/PYTotalExpensesAmt0174590
IRS990/PYTotalRevenueAmt0190429
IRS990/ReconcilationRevenueExpnssAmt012638
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0410418
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0423056
IRS990/SavingsAndTempCashInvstGrp/BOYAmt087824
IRS990/SavingsAndTempCashInvstGrp/EOYAmt099676
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/OtherLandBuildingsGrp/DepreciationAmt028899
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt028899
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE PALO ALTO COUNTY ECONOMIC DEVELOPMENT CORPORATION WILL SERVE AS A FACILITATOR OF ECONOMIC DEVELOPMENT BY ENCOURAGING AND PROMOTING GROWTH IN THE AREAS OF EXISTING BUSINESSES/EXPANSION, JOB RETENTION, MARKETING, TOURISM, AND TO PROVIDE LEADERSHIP TO HELP IMPROVE THE QUALITY OF LIFE FOR ALL RESIDENTS IN PALO ALTO COUNTY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO DOCUMENTS AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
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/TotalAssetsBOYAmt0410418
IRS990/TotalAssetsEOYAmt0423056
IRS990/TotalAssetsGrp/BOYAmt0410418
IRS990/TotalAssetsGrp/EOYAmt0423056
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0172844
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt095084
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt072554
IRS990/TotalFunctionalExpensesGrp/TotalAmt0167638
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0410418
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0423056
IRS990/TotalProgramServiceExpensesAmt072554
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt07432
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0180276
IRS990/TotalVolunteersCnt02
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0410418
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0423056
IRS990/TravelGrp/ProgramServicesAmt03072
IRS990/TravelGrp/TotalAmt03072
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt02407 MAIN STREET
IRS990/USAddress/CityNm0EMMETSBURG
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd050536
IRS990/VotingMembersGoverningBodyCnt013
IRS990/VotingMembersIndependentCnt013
IRS990/WebsiteAddressTxt0WWW.PALOALTOIOWA.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0TOD FARIS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIREC
ReturnHeader/BusinessOfficerGrp/PhoneNum05152957979
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-10-30
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PALO ALTO COUNTY ECONOMIC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DEVELOPMENT CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0PALO
ReturnHeader/Filer/EIN0371524573
ReturnHeader/Filer/PhoneNum05152957979
ReturnHeader/Filer/USAddress/AddressLine1Txt0106 S DODGE ST SUITE 210
ReturnHeader/Filer/USAddress/CityNm0ALGONA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd050511
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0421125381
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ERPELDING VOIGT & CO LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0307 E CALL STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ALGONA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd050511
ReturnHeader/PreparerPersonGrp/PhoneNum05152957275
ReturnHeader/PreparerPersonGrp/PreparationDt02025-10-30
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JENNIFER E PENNING
ReturnHeader/ReturnTs02025-11-03T08:31:13-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-07-01
ReturnHeader/TaxPeriodEndDt02025-06-30
ReturnHeader/TaxYr02024

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