Civic Intelligence

Steuben County Economic Development Corporation

990 • Fiscal year 2016 • EIN 38-3690102

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 03, 2017

Organization ProfileWWW.STEUBENEDC.COM
907 S Wayne StreetAngola, IN 46703

(260) 665-6889

Siviq Scores

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

Liabilities / Assets

77th percentile

0.31x

Higher debt load relative to assets than 77% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Liabilities / Revenue

85th percentile

0.55x

Higher debt load relative to revenue than 85% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Net Margin

70th percentile

12%

Higher net margin than 70% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Top Officer Pay

69th percentile

$56,801

Higher top officer pay than 69% of similar nonprofits.

Top officer pay equals 12.0% of source-year revenue.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Asset Growth

67th percentile

8.5%

Faster asset growth than 67% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Revenue Growth

18th percentile

-18%

Faster revenue growth than 18% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets77th percentile

Assets

Up

$838,456

Up $65,652 (+8.5%) from 2015

Net Assets

Up

$578,152

Up $63,458 (+12%) from 2015

Liabilities

Up

$260,304

Up $2,194 (+0.9%) from 2015

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin70th percentile

Revenue

Down

$473,162

Down $102,500 (-18%) from 2015

Expenses

Up

$415,393

Up $92,641 (+29%) from 2015

Net Income

Down

$57,769

Down $195,141 (-77%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth67th percentile

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

$1.5M$1.0M$500K$0Assets 2010: $144,738Liabilities 2010: $591Net Assets 2010: $144,1472010Assets 2011: $169,696Liabilities 2011: $1,144Net Assets 2011: $168,5522011Assets 2012: $196,122Liabilities 2012: $2,763Net Assets 2012: $193,3592012Assets 2013: $208,530Liabilities 2013: $1,453Net Assets 2013: $207,0772013Assets 2014: $226,651Liabilities 2014: $5,827Net Assets 2014: $220,8242014Assets 2015: $772,804Liabilities 2015: $258,110Net Assets 2015: $514,6942015Assets 2016: $838,456Liabilities 2016: $260,304Net Assets 2016: $578,1522016Assets 2017: $1,249,292Liabilities 2017: $237,674Net Assets 2017: $1,011,6182017Assets 2018: $1,233,169Liabilities 2018: $205,050Net Assets 2018: $1,028,1192018Assets 2019: $1,175,818Liabilities 2019: $193,618Net Assets 2019: $982,2002019Assets 2020: $990,839Liabilities 2020: $10,589Net Assets 2020: $980,2502020Assets 2021: $939,626Liabilities 2021: $30,726Net Assets 2021: $908,9002021Assets 2022: $993,636Liabilities 2022: $24,441Net Assets 2022: $969,1952022Assets 2023: $986,211Liabilities 2023: $22,655Net Assets 2023: $963,5562023Assets 2024: $1,043,154Liabilities 2024: $28,601Net Assets 2024: $1,014,5532024

Highlighted filing

2016

Assets$838,456
Liabilities$260,304
Net Assets$578,152
Open 2016 Filing

Operations Trend

Revenue Growth18th percentile

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

$1.0M$500K$0-$500KExpenses 2010: $269,2012010Expenses 2011: $200,7892011Expenses 2012: $223,6222012Revenue 2013: $273,662Expenses 2013: $259,944Net Income 2013: $13,7182013Revenue 2014: $266,595Expenses 2014: $252,848Net Income 2014: $13,7472014Revenue 2015: $575,662Expenses 2015: $322,752Net Income 2015: $252,9102015Revenue 2016: $473,162Expenses 2016: $415,393Net Income 2016: $57,7692016Revenue 2017: $844,509Expenses 2017: $548,775Net Income 2017: $295,7342017Revenue 2018: $486,282Expenses 2018: $475,778Net Income 2018: $10,5042018Revenue 2019: $437,658Expenses 2019: $483,577Net Income 2019: -$45,9192019Revenue 2020: $538,601Expenses 2020: $539,558Net Income 2020: -$9572020Revenue 2021: $464,534Expenses 2021: $532,104Net Income 2021: -$67,5702021Revenue 2022: $561,883Expenses 2022: $501,589Net Income 2022: $60,2942022Revenue 2023: $537,646Expenses 2023: $615,285Net Income 2023: -$77,6392023Revenue 2024: $578,865Expenses 2024: $527,868Net Income 2024: $50,9972024

Highlighted filing

2016

Revenue$473,162
Expenses$415,393
Net Income$57,769
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 3, 2017
Return Version
2016v3.0
Gross Receipts
$473,162
Mission and Program Overview

Mission

The mission of the corporation is to improve the quality of life for the citizens of steuben county, indiana, through enhanced employment opportunities resulting from the responsible growth of business and industry.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$461,701$746,874▲ $285,173
Cash and Non-Interest-Bearing Accounts$280,782$68,132▼ $212,650
Prepaid Expenses and Deferred Charges$13,025$13,025→ $0
Accounts Receivable$17,296$7,925▼ $9,371
Pledges and Grants Receivable-$2,500-
Total Assets$772,804$838,456▲ $65,652
Liabilities
Unsecured Notes Loans Payable$250,000$250,000→ $0
Accounts Payable and Accrued Expenses$8,110$10,304▲ $2,194
Total Liabilities$258,110$260,304▲ $2,194
Net Assets / Fund Balance
Unrestricted Net Assets$379,694$578,152▲ $198,458
Temporarily Rstr Net Assets$135,000--
Total Net Assets Fund Balance$514,694$578,152▲ $63,458
Total Liabilities and Net Assets / Fund Balance$772,804$838,456▲ $65,652

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$734,118-$734,118
Land$40,500-$40,500
Equipment$-27,744$27,744-
Compensation and Service Providers
Top Officer Pay69th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
David KoenigExecutive DiFT$50,554$6,247$56,801
David KoenigExecutive Director-$50,554$6,247$56,801
Isaac LeeExecutive DiFT$25,625-$25,625

Board Members and Trustees

NameTitle
Craig RalstonPresident
Allen HerselDirector
Brent ShullDirector
Chris FollandDirector
Connie MccahillDirector
Gene GermanDirector
Gordon CooperDirector
Kevin KeiserDirector
Lon KeyesDirector
Lynne LeichtyDirector
Mark CowenDirector
Rick BailerDirector
Robert ThompsonDirector
Vivian LikesDirector
Richard DodgePast Preside
Hitesh PatelTreasurer
Dan CarusoVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$245,661
Program Service Revenue
$226,440
Investment Income
$547
Other Revenue
$514
All Other Contributions
$78,842
Change in Net Assets
$57,769
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$271,986
Salaries, Compensation, and Employee Benefits$143,407
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$75,522$47,811-$123,333
Occupancy$78,314$3,519-$81,833
Fees for Services Other$70,834$6,585-$77,419
Office Expenses$25,813$8,200-$34,013
Depreciation Depletion$23,266$552-$23,818
Payroll Taxes$5,749$3,639-$9,388
Interest$6,837$2,279-$9,116
Advertising$6,352$2,017-$8,369
Insurance$7,244$588-$7,832
Fees for Services Accounting$1,925$5,360-$7,285
Other Employee Benefits$4,066$2,575-$6,641
Other Expenses$5,630--$5,630
Travel$3,214$1,072-$4,286
Pension Plan Contributions$2,477$1,568-$4,045
Fees for Services Legal$600--$600
Conferences and Meetings$30$10-$40
Total Functional Expenses$329,618$85,775$0$415,393
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
Yes
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“Private companies pay dues to the organization to support the organization's activities.”

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

“The executive committee of the board of directors is provided a copy of the form 990. The committee reviews the form and related documents and is given the opportunity to discuss it and ask quesions if needed.”

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

“Annually, each member of the board of directors is required to complete a disclosure statement regarding conflicts of interest. The executive director reviews each conflict of interest disclosure statement ensuring compliance.”

Form 990, Page 6, Part VI, Line 15A

“The board of directors determines if the salary is reasonable within its budgeted amount and in line with other executive directors in similar positions. The board of directors uses a wage and benefit survey published by the indiana economic development association to determine the executive director's salary.”

Form 990, Page 6, Part VI, Line 19

“The governing documents and other related documents of the steuben county economic development corporation are made available to the public via request at the organization's headquarters located at 330 intertech parkway, suite 231, angola, in 46703.”

Filing and Contact Details

Filer

Filer Name
Steuben County Economic Development
EIN
38-3690102
Phone
2606656889
Address
907 S WAYNE STREET, ANGOLA, IN 46703

Signing Officer

Name
Isaac Lee
Title
Executive Director
Phone
2606656889
Signed
2017-11-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Isaac Lee
Formed
2004
Legal Domicile
In
Voting Board Members
17
Independent Board Members
17
Employees
4

Preparer

Firm
Fry Trowbridge & Associates Pc
Address
800 SOUTH DETROIT STREET, LAGRANGE, IN 46761
Preparer
Randy D Fry CPA Cva Cgma
Phone
2604632390
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The mission of the corporation is to improve the quality of life for the citizens of steuben county, indiana, through enhanced employment opportunities resulting from the responsible growth of business and industry.”

Form 990, Page 2, Part III, Line 4D

“OTHER EXEMPT PURPOSES”

Form 990, Part IX, Line 11G

“Professional fees - public 22,952 2,134 0 professional fees - private 47,882 4,451 0 total 70,834 6,585 0”

Form 990, Part XI, Line 9

“Book / tax depreciation difference 5,689 beginning balance change 0 total 5,689”

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IRS990/Form990PartVIISectionAGrp/TitleTxt0PAST PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3VICE PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
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IRS990/OtherExpensesGrp/Desc1PROPERTY TAXES - PUBLIC
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0734118
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0746874
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE MISSION OF THE CORPORATION IS TO IMPROVE THE QUALITY OF LIFE FOR THE CITIZENS OF STEUBEN COUNTY, INDIANA, THROUGH ENHANCED EMPLOYMENT OPPORTUNITIES RESULTING FROM THE RESPONSIBLE GROWTH OF BUSINESS AND INDUSTRY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1OTHER EXEMPT PURPOSES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2PRIVATE COMPANIES PAY DUES TO THE ORGANIZATION TO SUPPORT THE ORGANIZATION'S ACTIVITIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS IS PROVIDED A COPY OF THE FORM 990. THE COMMITTEE REVIEWS THE FORM AND RELATED DOCUMENTS AND IS GIVEN THE OPPORTUNITY TO DISCUSS IT AND ASK QUESIONS IF NEEDED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ANNUALLY, EACH MEMBER OF THE BOARD OF DIRECTORS IS REQUIRED TO COMPLETE A DISCLOSURE STATEMENT REGARDING CONFLICTS OF INTEREST. THE EXECUTIVE DIRECTOR REVIEWS EACH CONFLICT OF INTEREST DISCLOSURE STATEMENT ENSURING COMPLIANCE.

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$838,456
Liabilities
$260,304
Net assets
$578,152
Revenue
$473,162
Expenses
$415,393
Net income
$57,769
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.04$0.03$1.01$0.58$0.53$0.05
2023Detailed filing. Detailed filing data is available for this year.$0.99$0.02$0.96$0.54$0.62$0.08
2022Detailed filing. Detailed filing data is available for this year.$0.99$0.02$0.97$0.56$0.50$0.06
2021Detailed filing. Detailed filing data is available for this year.$0.94$0.03$0.91$0.46$0.53$0.07
2020Detailed filing. Detailed filing data is available for this year.$0.99$0.01$0.98$0.54$0.54$0.00
2019Detailed filing. Detailed filing data is available for this year.$1.18$0.19$0.98$0.44$0.48$0.05
2018Detailed filing. Detailed filing data is available for this year.$1.23$0.21$1.03$0.49$0.48$0.01
2017Detailed filing. Detailed filing data is available for this year.$1.25$0.24$1.01$0.84$0.55$0.30
2016Detailed filing. Detailed filing data is available for this year.$0.84$0.26$0.58$0.47$0.42$0.06
2015Detailed filing. Detailed filing data is available for this year.$0.77$0.26$0.51$0.58$0.32$0.25
2014Detailed filing. Detailed filing data is available for this year.$0.23$0.01$0.22$0.27$0.25$0.01
2013Summary only. Only limited summary data is available for this year.$0.21$0.00$0.21$0.27$0.26$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.20$0.00$0.19$0.22
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.17$0.00$0.17$0.20
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.14$0.00$0.14$0.27