Civic Intelligence

All Iowa Agricultural Association

990 • Fiscal year 2019 • EIN 42-0680946

Oct 01, 2018 to Sep 30, 2019 • Filed on Aug 17, 2020

Organization Profilewww.hawkeyedowns.org
4400 6th St SWCedar Rapids, IA 52404

(319) 365-8656

Siviq Scores

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

Liabilities / Assets

97th percentile

1.57x

Higher debt load relative to assets than 97% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

94th percentile

3.49x

Higher debt load relative to revenue than 94% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

13th percentile

-21%

Higher net margin than 13% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

44th percentile

$46,154

Higher top officer pay than 44% of similar nonprofits.

Top officer pay equals 9.1% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

14th percentile

-8.1%

Faster asset growth than 14% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

51st percentile

4.6%

Faster revenue growth than 51% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets97th percentile

Assets

Down

$1,126,739

Down $98,978 (-8.1%) from 2018

Net Assets

Down

-$636,908

Down $107,453 (-20%) from 2018

Liabilities

Up

$1,763,647

Up $8,475 (+0.5%) from 2018

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin13th percentile

Revenue

Up

$505,459

Up $22,191 (+4.6%) from 2018

Expenses

Down

$612,912

Down $29,085 (-4.5%) from 2018

Net Income

Up

-$107,453

Up $51,276 (+32%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth14th percentile

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

$2.0M$1.0M$0-$1.0MAssets 2010: $1,779,393Liabilities 2010: $1,306,800Net Assets 2010: $472,5932010Assets 2011: $1,583,778Liabilities 2011: $1,337,312Net Assets 2011: $246,4662011Assets 2012: $1,587,727Liabilities 2012: $1,309,295Net Assets 2012: $278,4322012Assets 2013: $1,490,953Liabilities 2013: $1,219,835Net Assets 2013: $271,1182013Assets 2014: $1,477,893Liabilities 2014: $1,515,155Net Assets 2014: -$37,2622014Assets 2015: $1,366,608Liabilities 2015: $1,542,634Net Assets 2015: -$176,0262015Assets 2016: $1,374,568Liabilities 2016: $1,576,019Net Assets 2016: -$201,4512016Assets 2017: $1,300,781Liabilities 2017: $1,671,507Net Assets 2017: -$370,7262017Assets 2018: $1,225,717Liabilities 2018: $1,755,172Net Assets 2018: -$529,4552018Assets 2019: $1,126,739Liabilities 2019: $1,763,647Net Assets 2019: -$636,9082019Assets 2020: $781,034Liabilities 2020: $82,146Net Assets 2020: $698,8882020Assets 2021: $801,207Liabilities 2021: $236,220Net Assets 2021: $564,9872021Assets 2022: $558,669Liabilities 2022: $256,991Net Assets 2022: $301,6782022Assets 2023: $277,188Liabilities 2023: $64,668Net Assets 2023: $212,5202023Assets 2024: $185,098Liabilities 2024: $30,924Net Assets 2024: $154,1742024

Highlighted filing

2019

Assets$1,126,739
Liabilities$1,763,647
Net Assets-$636,908
Open 2019 Filing

Operations Trend

Revenue Growth51st percentile

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

$2.0M$1.0M$0-$1.0MExpenses 2010: $1,043,5152010Expenses 2011: $1,112,4572011Expenses 2012: $960,7202012Expenses 2013: $1,002,6002013Revenue 2014: $933,672Expenses 2014: $1,242,052Net Income 2014: -$308,3802014Revenue 2015: $383,669Expenses 2015: $522,433Net Income 2015: -$138,7642015Revenue 2016: $515,078Expenses 2016: $540,503Net Income 2016: -$25,4252016Revenue 2017: $462,301Expenses 2017: $631,576Net Income 2017: -$169,2752017Revenue 2018: $483,268Expenses 2018: $641,997Net Income 2018: -$158,7292018Revenue 2019: $505,459Expenses 2019: $612,912Net Income 2019: -$107,4532019Revenue 2020: $1,833,348Expenses 2020: $497,552Net Income 2020: $1,335,7962020Revenue 2021: $524,575Expenses 2021: $693,476Net Income 2021: -$168,9012021Revenue 2022: $636,898Expenses 2022: $900,207Net Income 2022: -$263,3092022Revenue 2023: $868,732Expenses 2023: $885,813Net Income 2023: -$17,0812023Revenue 2024: $781,763Expenses 2024: $840,109Net Income 2024: -$58,3462024

Highlighted filing

2019

Revenue$505,459
Expenses$612,912
Net Income-$107,453
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2018 to Sep 30, 2019
Signed
Aug 17, 2020
Return Version
2018v3.1
Gross Receipts
$922,842
Mission and Program Overview

Mission

To provide and maintain business, entertainment, and cultural activities to benefit the community and its visitors.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,156,270$1,098,218▼ $58,052
Accounts Receivable$24,545$11,082▼ $13,463
Cash and Non-Interest-Bearing Accounts$38,392$10,929▼ $27,463
Inventories for Sale or Use$6,510$6,510→ $0
Savings and Temporary Cash Investments-$0-
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-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$1,225,717$1,126,739▼ $98,978
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,373,987$1,381,008▲ $7,021
Other Liabilities$235,084$206,959▼ $28,125
Accounts Payable and Accrued Expenses$146,101$175,680▲ $29,579
Total Liabilities$1,755,172$1,763,647▲ $8,475
Net Assets / Fund Balance
Unrestricted Net Assets$-529,455$-636,908▼ $107,453
Total Net Assets Fund Balance$-529,455$-636,908▼ $107,453
Total Liabilities and Net Assets / Fund Balance$1,225,717$1,126,739▼ $98,978

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$958,288$1,851,008$2,809,296
Leasehold Improvements$35,569$1,190,784$1,226,353
Equipment$162$343,552$343,714
Other Land Buildings$72,530$266,182$338,712
Land$31,669-$31,669
Compensation and Service Providers
Top Officer Pay44th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Ann PoeExecutive DirectorFT$46,154$46,154
Kevin KorsmoSecretary-$4,700$4,700

Board Members and Trustees

NameTitle
Julie KraftPresident
Joe DayVice President
Chuck SworeDirector
Gordon ParkerDirector
Griffin McgrathDirector
Mark IronsideDirector
Scott OlsonDirector
Shawn LuethDirector
Warren RoppDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$112,834
Program Service Revenue
$224,772
Investment Income
$4,418
Other Revenue
$163,435
All Other Contributions
$112,834
Change in Net Assets
$-107,453
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$419,894
Salaries, Compensation, and Employee Benefits$193,018
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$21,685$148,811-$170,496
All Other Expenses$27,302$55,663-$82,965
Insurance$7,040$30,972-$38,012
Other Expenses$28,711$26,885-$28,711
Payroll Taxes-$17,822-$17,822
Interest-$17,663-$17,663
Depreciation Depletion-$14,402-$14,402
Office Expenses$4,524$1,733-$6,257
Advertising$10,500$-5,186-$5,314
Current Officers, Directors, Trustees, and Key Employees$4,700--$4,700
Fees for Services Accounting-$3,423-$3,423
Travel-$473-$473
Total Functional Expenses$218,409$394,503$0$612,912
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
Yes
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Gaming Direct Expenses$40,977
Gaming Gross Income$23,895
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-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Short Term Loans Payable$188,859
Payroll Tax Payable$12,350
Rental Deposits$5,750
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
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, Part VI, Line 11B: Form 990 Review Process

“The executive committee of the board of directors reviews an electronic version of the form 990 and makes the recommendation for approval to the membership of the board of directors at a monthly board of directors meeting.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“When an individual is requested to become a member of the board of directors, the individual is provided with the conflict of interest policy and must declare any actual or perceived conflicts of interest. In addition, members of the board of directors are provided with a copy of the conflict of interest policy and must declare any actual or perceived conflict of interest on an annual basis.when an individual is hired to be a member of the staff of the organization, the individual is provided with the conflict of interest policy and must declare any actual or perceived conflict of interest. In addition, members of the staff are provided with a copy of the conflict of interest policy and must declare any actual or perceived conflict of interest on an annual basis.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“The board of directors determines and approves the annual salary of the executive director/general manager during a board of directors meeting.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“The organization provides governing documents, conflict of interest policy and financial documentation to those individuals/entities requesting information. The organization does reserve the right to charge prevailing rates for such copies of the documentation requested.”

Filing and Contact Details

Filer

Filer Name
Hawkeye Downs Inc
EIN
42-0680946
Phone
3193658656
Address
4400 6TH ST SW, CEDAR RAPIDS, IA 52404

Signing Officer

Name
Julie Kraft
Title
President
Signed
2020-08-17
Discuss with paid preparer
Yes

Organization Details

Formed
1977
Legal Domicile
Ia
Voting Board Members
10
Independent Board Members
10
Employees
59
Volunteers
50

Preparer

Firm
Koppenhaver & Associates PC
Address
204 Glenn St SE Ste 1, Mount Vernon, IA 52314
Preparer
Ann M Koppenhaver
Phone
3198956001
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E: Other Expenses

“AMBULANCE/FIRE/SECURITY: Column (A) - Total = $6025; Column (B) - Program Services = $6025; Column (C) - Management & General = $0; Column (D) - Fundraising = $0”

Form 990, Part IX, Line 24E: Other Expenses

“BANK CHARGES: Column (A) - Total = $3339; Column (B) - Program Services = $0; Column (C) - Management & General = $3339; Column (D) - Fundraising = $0”

Form 990, Part IX, Line 24E: Other Expenses

“CONTRACT LABOR: Column (A) - Total = $3035; Column (B) - Program Services = $1035; Column (C) - Management & General = $2000; Column (D) - Fundraising = $0”

Form 990, Part IX, Line 24E: Other Expenses

“DISPOSAL AND SANITATION: Column (A) - Total = $11119; Column (B) - Program Services = $0; Column (C) - Management & General = $11119; Column (D) - Fundraising = $0”

Form 990, Part IX, Line 24E: Other Expenses

“DONATION: Column (A) - Total = $291; Column (B) - Program Services = $0; Column (C) - Management & General = $291; Column (D) - Fundraising = $0”

Form 990, Part IX, Line 24E: Other Expenses

“DUES & SUBSCRIPTIONS: Column (A) - Total = $3346; Column (B) - Program Services = $0; Column (C) - Management & General = $3346; Column (D) - Fundraising = $0”

Form 990, Part IX, Line 24E: Other Expenses

“LAWN MAINTENANCE: Column (A) - Total = $2107; Column (B) - Program Services = $0; Column (C) - Management & General = $2107; Column (D) - Fundraising = $0”

Form 990, Part IX, Line 24E: Other Expenses

“MEALS: Column (A) - Total = $1032; Column (B) - Program Services = $0; Column (C) - Management & General = $1032; Column (D) - Fundraising = $0”

Form 990, Part IX, Line 24E: Other Expenses

“OPERATIONS: Column (A) - Total = $100; Column (B) - Program Services = $0; Column (C) - Management & General = $100; Column (D) - Fundraising = $0”

Form 990, Part IX, Line 24E: Other Expenses

“Postage and Shipping: Column (A) - Total = $86; Column (B) - Program Services = $0; Column (C) - Management & General = $86; Column (D) - Fundraising = $0”

Form 990, Part IX, Line 24E: Other Expenses

“Printing and Publications: Column (A) - Total = $73; Column (B) - Program Services = $0; Column (C) - Management & General = $73; Column (D) - Fundraising = $0”

Form 990, Part IX, Line 24E: Other Expenses

“RENTAL: Column (A) - Total = $6546; Column (B) - Program Services = $0; Column (C) - Management & General = $6546; Column (D) - Fundraising = $0”

Form 990, Part IX, Line 24E: Other Expenses

“REPAIRS & MAINTENANCE: Column (A) - Total = $19215; Column (B) - Program Services = $0; Column (C) - Management & General = $19215; Column (D) - Fundraising = $0”

Form 990, Part IX, Line 24E: Other Expenses

“SALES TAX: Column (A) - Total = $11970; Column (B) - Program Services = $11970; Column (C) - Management & General = $0; Column (D) - Fundraising = $0”

Form 990, Part IX, Line 24E: Other Expenses

“SIGNAGE: Column (A) - Total = $5495; Column (B) - Program Services = $5495; Column (C) - Management & General = $0; Column (D) - Fundraising = $0”

Form 990, Part IX, Line 24E: Other Expenses

“SOUND SERVICES: Column (A) - Total = $277; Column (B) - Program Services = $277; Column (C) - Management & General = $0; Column (D) - Fundraising = $0”

Form 990, Part IX, Line 24E: Other Expenses

“SUPPLIES: Column (A) - Total = $2787; Column (B) - Program Services = $0; Column (C) - Management & General = $2787; Column (D) - Fundraising = $0”

Form 990, Part IX, Line 24E: Other Expenses

“TOWING: Column (A) - Total = $2500; Column (B) - Program Services = $2500; Column (C) - Management & General = $0; Column (D) - Fundraising = $0”

Form 990, Part IX, Line 24E: Other Expenses

“VEHICLE GAS & OIL: Column (A) - Total = $3622; Column (B) - Program Services = $0; Column (C) - Management & General = $3622; Column (D) - Fundraising = $0”

Raw XML AppendixShowing 400 of 586 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/ManagementAndGeneralAmt081842
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IRS990/OtherExpensesGrp/TotalAmt181842
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Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,126,739
Liabilities
$1,763,647
Net assets
-$636,908
Revenue
$505,459
Expenses
$612,912
Net income
-$107,453
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.19$0.03$0.15$0.78$0.84$0.06
2023Summary only. Only limited summary data is available for this year.$0.28$0.06$0.21$0.87$0.89$0.02
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.56$0.26$0.30$0.64$0.90$0.26
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.80$0.24$0.56$0.52$0.69$0.17
2020Summary only. Only limited summary data is available for this year.$0.78$0.08$0.70$1.83$0.50$1.34
2019Detailed filing. Detailed filing data is available for this year.$1.13$1.76$0.64$0.51$0.61$0.11
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.23$1.76$0.53$0.48$0.64$0.16
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.30$1.67$0.37$0.46$0.63$0.17
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.37$1.58$0.20$0.52$0.54$0.03
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.37$1.54$0.18$0.38$0.52$0.14
2014Summary only. Only limited summary data is available for this year.$1.48$1.52$0.04$0.93$1.24$0.31
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.49$1.22$0.27$1.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.59$1.31$0.28$0.96
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.58$1.34$0.25$1.11
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.78$1.31$0.47$1.04