Civic Intelligence

Owatonna Business Incubator Inc

EIN 41-1644556 • 501(c)3 • Owatonna, MN

Profile

Promotion of economic development through reduced facility costs and mentorship of start up businesses and facilitating growth of existing businesses.

PO Box 505Owatonna, MN 55060

www.owatonna.biz

Siviq Scores

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

Liabilities / Assets

70th percentile

0.02x

Higher debt load relative to assets than 70% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

75th percentile

0.03x

Higher debt load relative to revenue than 75% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Net Margin

19th percentile

-31%

Higher net margin than 19% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Top Officer Pay

98th percentile

$101,250

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 35.9% of source-year revenue.

501(c)3 • <$500k nonprofits • Source year 2024

Asset Growth

33rd percentile

-19%

Faster asset growth than 33% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

72nd percentile

20%

Faster revenue growth than 72% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets70th percentile

Assets

Down

$364,554

Down $85,624 (-19%) from 2023

Liabilities

Up

$7,766

Up $977 (+14%) from 2023

Net Assets

Down

$356,788

Down $86,601 (-20%) from 2023

Operations
Liabilities / Revenue75th percentileNet Margin19th percentile

Revenue

Up

$281,902

Up $46,154 (+20%) from 2023

Expenses

Up

$368,503

Up $170,416 (+86%) from 2023

Net Income

Down

-$86,601

Down $124,262 (-330%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth33rd percentile

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

$600K$400K$200K$0Assets 2011: $182,262Liabilities 2011: $2,181Net Assets 2011: $180,0812011Assets 2012: $150,342Liabilities 2012: $2,243Net Assets 2012: $148,0992012Assets 2013: $86,006Liabilities 2013: $2,0472013Assets 2014: $56,060Liabilities 2014: $17,0622014Assets 2015: $53,393Liabilities 2015: $2,181Net Assets 2015: $51,2122015Assets 2016: $99,051Liabilities 2016: $3,752Net Assets 2016: $95,2992016Assets 2017: $129,143Liabilities 2017: $3,982Net Assets 2017: $125,1612017Assets 2018: $222,410Liabilities 2018: $47,286Net Assets 2018: $175,1242018Assets 2019: $236,005Liabilities 2019: $6,858Net Assets 2019: $229,1472019Assets 2020: $255,624Liabilities 2020: $4,592Net Assets 2020: $251,0322020Assets 2021: $314,065Liabilities 2021: $4,693Net Assets 2021: $309,3722021Assets 2022: $410,846Liabilities 2022: $5,118Net Assets 2022: $405,7282022Assets 2023: $450,178Liabilities 2023: $6,789Net Assets 2023: $443,3892023Assets 2024: $364,554Liabilities 2024: $7,766Net Assets 2024: $356,7882024

Highlighted filing

2024

Assets$364,554
Liabilities$7,766
Net Assets$356,788
Open 2024 Filing

Operations Trend

Revenue Growth72nd percentile

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

$400K$200K$0-$200KRevenue 2011: $183,671Expenses 2011: $159,372Net Income 2011: $24,2992011Revenue 2012: $132,299Expenses 2012: $155,281Net Income 2012: -$22,9822012Revenue 2013: $91,212Expenses 2013: $155,352Net Income 2013: -$64,1402013Revenue 2014: $90,658Expenses 2014: $134,994Net Income 2014: -$44,3362014Revenue 2015: $145,445Expenses 2015: $133,231Net Income 2015: $12,2142015Revenue 2016: $174,905Expenses 2016: $130,818Net Income 2016: $44,0872016Revenue 2017: $155,800Expenses 2017: $125,938Net Income 2017: $29,8622017Revenue 2018: $170,044Expenses 2018: $120,081Net Income 2018: $49,9632018Revenue 2019: $210,379Expenses 2019: $156,356Net Income 2019: $54,0232019Revenue 2020: $198,881Expenses 2020: $176,996Net Income 2020: $21,8852020Revenue 2021: $201,328Expenses 2021: $142,988Net Income 2021: $58,3402021Revenue 2022: $229,357Expenses 2022: $133,001Net Income 2022: $96,3562022Revenue 2023: $235,748Expenses 2023: $198,087Net Income 2023: $37,6612023Revenue 2024: $281,902Expenses 2024: $368,503Net Income 2024: -$86,6012024

Highlighted filing

2024

Revenue$281,902
Expenses$368,503
Net Income-$86,601
Open 2024 Filing

Filings

Most recent year

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

Open filing
Assets
$364,554
Liabilities
$7,766
Net assets
$356,788
Revenue
$281,902
Expenses
$368,503
Net income
-$86,601
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.65$0.08$3.57$2.82$3.69$0.87
2023Detailed filing. Detailed filing data is available for this year.$4.50$0.07$4.43$2.36$1.98$0.38
2022Detailed filing. Detailed filing data is available for this year.$4.11$0.05$4.06$2.29$1.33$0.96
2021Detailed filing. Detailed filing data is available for this year.$3.14$0.05$3.09$2.01$1.43$0.58
2020Detailed filing. Detailed filing data is available for this year.$2.56$0.05$2.51$1.99$1.77$0.22
2019Detailed filing. Detailed filing data is available for this year.$2.36$0.07$2.29$2.10$1.56$0.54
2018Detailed filing. Detailed filing data is available for this year.$2.22$0.47$1.75$1.70$1.20$0.50
2017Detailed filing. Detailed filing data is available for this year.$1.29$0.04$1.25$1.56$1.26$0.30
2016Detailed filing. Detailed filing data is available for this year.$0.99$0.04$0.95$1.75$1.31$0.44
2015Detailed filing. Detailed filing data is available for this year.$0.53$0.02$0.51$1.45$1.33$0.12
2014Summary only. Only limited summary data is available for this year.$0.56$0.17$0.91$1.35$0.44
2013Summary only. Only limited summary data is available for this year.$0.86$0.02$0.91$1.55$0.64
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.50$0.02$1.48$1.32$1.55$0.23
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.82$0.02$1.80$1.84$1.59$0.24
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
$281,902
Mission and Program Overview

Mission

Promotion of economic development through reduced facility costs and mentorship of start up businesses and facilitating growth of existing businesses.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$339,082$254,345▼ $84,737
Land, Buildings, and Equipment, Net$107,423$103,169▼ $4,254
Accounts Receivable$3,673$7,040▲ $3,367
Total Assets$450,178$364,554▼ $85,624
Liabilities
Other Liabilities$6,789$7,755▲ $966
Accounts Payable and Accrued Expenses-$11-
Total Liabilities$6,789$7,766▲ $977
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$443,389$356,788▼ $86,601
Total Net Assets Fund Balance$443,389$356,788▼ $86,601
Total Liabilities and Net Assets / Fund Balance$450,178$364,554▼ $85,624

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$100,522$28,907$129,429
Equipment-$65,850$65,850
Leasehold Improvements$2,647$46,945$49,592
Compensation and Service Providers
Top Officer Pay98th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Sean WilliamsExecutive DiFT$101,250$101,250

Board Members and Trustees

NameTitle
Joe EffertzPresident
Ali DiriyeDirector
Ben CassDirector
Brent SvenbyDirector
Greg JohnsonDirector
Troy KleckerDirector
Kris BusseEx-officio
Tammy SchmollPast Preside
Dan BoekeSecretary
Timothy LindersTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$55,030
Program Service Revenue
$226,239
Investment Income
$633
Other Revenue
$0
All Other Contributions
$55,030
Change in Net Assets
$-86,601
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$227,416
Salaries, Compensation, and Employee Benefits$141,087
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$74,925$26,325-$101,250
Occupancy$62,048--$62,048
Advertising$27,793$445-$28,238
Other Salaries and Wages$14,369$5,049-$19,418
Office Expenses$10,442$8,917-$19,359
All Other Expenses$9,001$3,413-$12,414
Pension Plan Contributions$8,471$2,976-$11,447
Other Expenses$9,233--$9,233
Payroll Taxes$6,729$2,243-$8,972
Depreciation Depletion$4,254--$4,254
Conferences and Meetings$1,925--$1,925
Travel$757$758-$1,515
Fees for Services Accounting$950--$950
Insurance$458$459-$917
Total Functional Expenses$317,918$50,585$0$368,503
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll and Sales Tax Liability$3,894
Security Deposits$3,861
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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 11B

“Board reviews before filing”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Owatonna Business Incubator Inc
EIN
41-1644556
Phone
5074510517
Address
PO BOX 505, OWATONNA, MN 55060

Signing Officer

Name
Joe Effertz
Title
President
Phone
5074510517
Signed
2025-04-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joe Effertz
Voting Board Members
10
Independent Board Members
10
Employees
3

Preparer

Firm
Struss Cpas Pc
Address
2055 4TH AVENUE SE, OWATONNA, MN 55060
Preparer
Daniel a Struss
Phone
5074510611
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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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ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JOE EFFERTZ
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05074510517
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-04-24
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0OWATONNA BUSINESS INCUBATOR INC
ReturnHeader/Filer/BusinessNameControlTxt0OWAT
ReturnHeader/Filer/EIN0411644556
ReturnHeader/Filer/PhoneNum05074510517
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 505
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0STRUSS CPAS PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02055 4TH AVENUE SE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0OWATONNA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd055060
ReturnHeader/PreparerPersonGrp/PhoneNum05074510611
ReturnHeader/PreparerPersonGrp/PreparationDt02025-05-07
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DANIEL A STRUSS
ReturnHeader/ReturnTs02025-05-14T17:24:30-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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