Civic Intelligence

Stevens County Economic Improvement Commission

990 • Fiscal year 2023 • EIN 41-1383188

Jan 01, 2023 to Dec 31, 2023 • Filed on Aug 28, 2024

Organization ProfileWWW.SCEIC.ORG
PO Box 45Morris, MN 56267

(320) 585-2609

Siviq Scores

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

Liabilities / Assets

71st percentile

0.25x

Higher debt load relative to assets than 71% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

93rd percentile

2.24x

Higher debt load relative to revenue than 93% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

9th percentile

-38%

Higher net margin than 9% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

60th percentile

$84,100

Higher top officer pay than 60% of similar nonprofits.

Top officer pay equals 45.6% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

17th percentile

-7.1%

Faster asset growth than 17% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

66th percentile

19%

Faster revenue growth than 66% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets71st percentile

Assets

Down

$1,643,936

Down $124,946 (-7.1%) from 2022

Net Assets

Down

$1,229,869

Down $69,911 (-5.4%) from 2022

Liabilities

Down

$414,067

Down $55,035 (-12%) from 2022

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin9th percentile

Revenue

Up

$184,592

Up $28,977 (+19%) from 2022

Expenses

Up

$254,503

Up $102,110 (+67%) from 2022

Net Income

Down

-$69,911

Down $73,133 (-2270%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth17th percentile

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

$3.0M$2.0M$1.0M$0Assets 2011: $1,479,574Liabilities 2011: $1,004,407Net Assets 2011: $475,1672011Assets 2012: $1,421,500Liabilities 2012: $966,226Net Assets 2012: $455,2742012Assets 2013: $1,302,901Liabilities 2013: $933,945Net Assets 2013: $368,9562013Assets 2014: $1,723,689Liabilities 2014: $1,394,671Net Assets 2014: $329,0182014Assets 2015: $2,102,658Liabilities 2015: $837,972Net Assets 2015: $1,264,6862015Assets 2016: $2,027,472Liabilities 2016: $770,773Net Assets 2016: $1,256,6992016Assets 2017: $1,997,177Liabilities 2017: $721,522Net Assets 2017: $1,275,6552017Assets 2018: $1,906,241Liabilities 2018: $673,538Net Assets 2018: $1,232,7032018Assets 2019: $1,851,603Liabilities 2019: $620,985Net Assets 2019: $1,230,6182019Assets 2020: $1,880,545Liabilities 2020: $572,804Net Assets 2020: $1,307,7412020Assets 2021: $1,816,525Liabilities 2021: $519,967Net Assets 2021: $1,296,5582021Assets 2022: $1,768,882Liabilities 2022: $469,102Net Assets 2022: $1,299,7802022Assets 2023: $1,643,936Liabilities 2023: $414,067Net Assets 2023: $1,229,8692023Assets 2024: $1,621,256Liabilities 2024: $352,798Net Assets 2024: $1,268,4582024

Highlighted filing

2023

Assets$1,643,936
Liabilities$414,067
Net Assets$1,229,869
Open 2023 Filing

Operations Trend

Revenue Growth66th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2011: $232,581Expenses 2011: $380,148Net Income 2011: -$147,5672011Expenses 2012: $231,6512012Revenue 2013: $148,497Expenses 2013: $234,815Net Income 2013: -$86,3182013Revenue 2014: $157,730Expenses 2014: $197,668Net Income 2014: -$39,9382014Revenue 2015: $1,110,673Expenses 2015: $175,005Net Income 2015: $935,6682015Revenue 2016: $158,872Expenses 2016: $166,859Net Income 2016: -$7,9872016Revenue 2017: $162,932Expenses 2017: $143,976Net Income 2017: $18,9562017Revenue 2018: $150,300Expenses 2018: $193,252Net Income 2018: -$42,9522018Revenue 2019: $148,054Expenses 2019: $150,139Net Income 2019: -$2,0852019Revenue 2020: $227,689Expenses 2020: $150,566Net Income 2020: $77,1232020Revenue 2021: $158,894Expenses 2021: $170,077Net Income 2021: -$11,1832021Revenue 2022: $155,615Expenses 2022: $152,393Net Income 2022: $3,2222022Revenue 2023: $184,592Expenses 2023: $254,503Net Income 2023: -$69,9112023Revenue 2024: $241,904Expenses 2024: $203,315Net Income 2024: $38,5892024

Highlighted filing

2023

Revenue$184,592
Expenses$254,503
Net Income-$69,911
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Aug 28, 2024
Return Version
2023v5.0
Gross Receipts
$184,592
Mission and Program Overview

Mission

The mission of sceic, inc. Is to "create and retain jobs" by providing countywide economic development assistance in the form of obtaining for business clients loan packaging, financial projections, and low interest, long-term, fixed rate "gap financing" loans and various grants.

The goal of the organization is to create and retain jobs and to assist with existing, expanding and potential business and industry in stevens county,minnesota.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$1,421,467$1,274,476▼ $146,991
Savings and Temporary Cash Investments$296,502$262,826▼ $33,676
Investments in Publicly Traded Securities-$80,779-
Accounts Receivable$2,697$14,059▲ $11,362
Cash and Non-Interest-Bearing Accounts$45,637$7,069▼ $38,568
Land, Buildings, and Equipment, Net$1,980$4,207▲ $2,227
Prepaid Expenses and Deferred Charges$599$520▼ $79
Total Assets$1,768,882$1,643,936▼ $124,946
Liabilities
Mortgage Notes Payable Secured by Investment Property$450,647$397,480▼ $53,167
Accounts Payable and Accrued Expenses$18,455$16,587▼ $1,868
Total Liabilities$469,102$414,067▼ $55,035
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,321,803$1,258,342▼ $63,461
Net Assets Without Donor Restrictions$-22,023$-28,473▼ $6,450
Total Net Assets Fund Balance$1,299,780$1,229,869▼ $69,911
Total Liabilities and Net Assets / Fund Balance$1,768,882$1,643,936▼ $124,946

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$4,207$4,740$8,947
Compensation and Service Providers
Top Officer Pay60th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Cheryl KuhnExecutive DiFT$84,100$84,100

Board Members and Trustees

NameTitle
Bryan HerrmannChairperson
Renee KannegiesserChairperson
Justin CronenVice Chairpe
Rebecca YoungEx-officio
Blaine HillRepresentati
Drew MartigRepresentati
Jeff SchaeferRepresentati
Jodi BedelRepresentati
Kevin WohlersRepresentati
Kurt GartlandRepresentati
Michelle TritzRepresentati
Mike MahoneyRepresentati
Rebecca ShruppRepresentati
Ryan SleiterRepresentati
Kayla HawkinsonSecretary
Donny WohlersTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$119,807
Program Service Revenue
$61,443
Investment Income
$3,342
Other Revenue
$0
All Other Contributions
$119,807
Change in Net Assets
$-69,911

Audited Revenue Reconciliation

Revenue per Audited Statements
$184,592
Total Revenue per Audited Statements
$184,592
Total Revenue per Form 990
$184,592
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$129,080
Salaries, Compensation, and Employee Benefits$125,423
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$62,234$21,866-$84,100
Other Salaries and Wages$22,364$7,857-$30,221
Payroll Taxes$7,669$3,433-$11,102
Fees for Services Accounting$8,200--$8,200
Office Expenses$3,171$2,114-$5,285
Fees for Services Other-$5,251-$5,251
Interest$4,129--$4,129
Travel$2,944--$2,944
Insurance$1,613$868-$2,481
Occupancy$1,440$960-$2,400
Other Expenses$1,689$200-$1,889
Depreciation Depletion$457$305-$762
Total Functional Expenses$211,649$42,854$0$254,503

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$254,503
Total Expenses per Audited Statements$254,503
Total Expenses per Form 990$254,503
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
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
Yes
Other officer compensation reviewed
Yes
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

“The board of directors review the 990 at the monthly board meeting. The tax return is prepared by an independent accounting firm.”

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

“Periodic review by board of directors.”

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

“Annual review by board of directors.”

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

“Annual review by board of directors.”

Form 990, Page 6, Part VI, Line 19

“Documents provided upon request”

Filing and Contact Details

Filer

Filer Name
Stevens County Eic Inc
EIN
41-1383188
Phone
3205852609
Address
PO BOX 45, MORRIS, MN 56267

Signing Officer

Name
Cheryl Kuhn
Title
Executive Director
Phone
3205852609
Signed
2024-08-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cheryl Kuhn
Formed
1980
Legal Domicile
Mn
Voting Board Members
15
Independent Board Members
15
Employees
2

Preparer

Firm
Shaw & Associates Pllc
Address
501 SOUTH HIGHWAY 23 SUITE C, MARSHALL, MN 56258
Preparer
Greg Shaw
Phone
5075915000
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“Sceic has adopted the provisions of financial accounting standards board (fasb) accounting standards codification (asc) 740-10, accounting for uncertain tax positions. Sceic continually evaluates expiring statutes of limitations, audits, proposed settlements, changes in tax law, and new authoritative rulings. Sceic believes that it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that would be material to the financial statements.”

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IRS990/MissionDesc0THE GOAL OF THE ORGANIZATION IS TO CREATE AND RETAIN JOBS AND TO ASSIST WITH EXISTING, EXPANDING AND POTENTIAL BUSINESS AND INDUSTRY IN STEVENS COUNTY, MINNESOTA.
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IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt03433
IRS990/PayrollTaxesGrp/ProgramServicesAmt07669
IRS990/PayrollTaxesGrp/TotalAmt011102
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0599
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0520
IRS990/PrincipalOfficerNm0CHERYL KUHN
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0522291
IRS990/ProgramServiceRevenueGrp/BusinessCd1522291
IRS990/ProgramServiceRevenueGrp/BusinessCd2522291
IRS990/ProgramServiceRevenueGrp/Desc0INTEREST - BUSINESS LOANS
IRS990/ProgramServiceRevenueGrp/Desc1SERVICE FEES
IRS990/ProgramServiceRevenueGrp/Desc2OTHER INCOME
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IRS990/PYTotalExpensesAmt0152393
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IRS990/ReconcilationRevenueExpnssAmt0-69911
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/ReportProgramRelatedInvstInd0false
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0102758
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IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0248135
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt04740
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IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/RevenueSubtotalAmt0184592
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0SCEIC HAS ADOPTED THE PROVISIONS OF FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC) 740-10, ACCOUNTING FOR UNCERTAIN TAX POSITIONS. SCEIC CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW, AND NEW AUTHORITATIVE RULINGS. SCEIC BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT WOULD BE MATERIAL TO THE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTORS REVIEW THE 990 AT THE MONTHLY BOARD MEETING. THE TAX RETURN IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PERIODIC REVIEW BY BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ANNUAL REVIEW BY BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ANNUAL REVIEW BY BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DOCUMENTS PROVIDED UPON 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 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
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IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesEOYAmt0414067

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$1,643,936
Liabilities
$414,067
Net assets
$1,229,869
Revenue
$184,592
Expenses
$254,503
Net income
-$69,911
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.62$0.35$1.27$0.24$0.20$0.04
2023Detailed filing. Detailed filing data is available for this year.$1.64$0.41$1.23$0.18$0.25$0.07
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.77$0.47$1.30$0.16$0.15$0.00
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.82$0.52$1.30$0.16$0.17$0.01
2020Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$1.88$0.57$1.31$0.23$0.15$0.08
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.85$0.62$1.23$0.15$0.15$0.00
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.91$0.67$1.23$0.15$0.19$0.04
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.00$0.72$1.28$0.16$0.14$0.02
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.03$0.77$1.26$0.16$0.17$0.01
2015Detailed filing. Detailed filing data is available for this year.$2.10$0.84$1.26$1.11$0.18$0.94
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.72$1.39$0.33$0.16$0.20$0.04
2013Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$1.30$0.93$0.37$0.15$0.23$0.09
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.42$0.97$0.46$0.23
2011Summary only. Only limited summary data is available for this year.$1.48$1.00$0.48$0.23$0.38$0.15