Civic Intelligence

Midwest Old Settlers and Threshers Assn Inc.

990 • Fiscal year 2023 • EIN 42-0777257

Jan 01, 2023 to Dec 31, 2023 • Filed on Oct 17, 2024

Organization ProfileWWW.OLDTHRESHERS.ORG
405 E Threshers RdMT Pleasant, IA 52641

(319) 385-8937

Siviq Scores

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

Liabilities / Assets

32nd percentile

0.04x

Higher debt load relative to assets than 32% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

35th percentile

0.09x

Higher debt load relative to revenue than 35% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Net Margin

72nd percentile

17%

Higher net margin than 72% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

46th percentile

$117,302

Higher top officer pay than 46% of similar nonprofits.

Top officer pay equals 4.4% of source-year revenue.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Asset Growth

49th percentile

5.1%

Faster asset growth than 49% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

77th percentile

28%

Faster revenue growth than 77% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets32nd percentile

Assets

Up

$6,154,970

Up $298,156 (+5.1%) from 2022

Net Assets

Up

$5,918,089

Up $252,039 (+4.4%) from 2022

Liabilities

Up

$236,881

Up $46,117 (+24%) from 2022

Revenue And Expenses
Liabilities / Revenue35th percentileNet Margin72nd percentile

Revenue

Up

$2,693,921

Up $595,390 (+28%) from 2022

Expenses

Up

$2,248,694

Up $112,329 (+5.3%) from 2022

Net Income

Up

$445,227

Up $483,061 (+1277%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth49th percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2010: $2,615,114Liabilities 2010: $301,476Net Assets 2010: $2,313,6382010Assets 2011: $2,654,224Liabilities 2011: $266,659Net Assets 2011: $2,387,5652011Assets 2012: $2,750,040Liabilities 2012: $349,189Net Assets 2012: $2,400,8512012Assets 2013: $2,786,244Liabilities 2013: $403,669Net Assets 2013: $2,382,5752013Assets 2014: $2,901,265Liabilities 2014: $395,998Net Assets 2014: $2,505,2672014Assets 2015: $2,836,743Liabilities 2015: $257,840Net Assets 2015: $2,578,9032015Assets 2016: $3,203,611Liabilities 2016: $313,454Net Assets 2016: $2,890,1572016Assets 2017: $3,401,067Liabilities 2017: $313,196Net Assets 2017: $3,087,8712017Assets 2018: $3,477,104Liabilities 2018: $333,424Net Assets 2018: $3,143,6802018Assets 2019: $4,146,881Liabilities 2019: $376,100Net Assets 2019: $3,770,7812019Assets 2020: $4,235,518Liabilities 2020: $586,625Net Assets 2020: $3,648,8932020Assets 2021: $5,724,252Liabilities 2021: $20,368Net Assets 2021: $5,703,8842021Assets 2022: $5,856,814Liabilities 2022: $190,764Net Assets 2022: $5,666,0502022Assets 2023: $6,154,970Liabilities 2023: $236,881Net Assets 2023: $5,918,0892023Assets 2024: $6,595,699Liabilities 2024: $84,507Net Assets 2024: $6,511,1922024

Highlighted filing

2023

Assets$6,154,970
Liabilities$236,881
Net Assets$5,918,089
Open 2023 Filing

Operations Trend

Revenue Growth77th percentile

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $1,271,2912010Revenue 2011: $1,307,587Expenses 2011: $1,233,660Net Income 2011: $73,9272011Expenses 2012: $1,328,2672012Revenue 2013: $1,472,771Expenses 2013: $1,491,047Net Income 2013: -$18,2762013Revenue 2014: $1,553,580Expenses 2014: $1,430,888Net Income 2014: $122,6922014Revenue 2015: $1,565,539Expenses 2015: $1,491,903Net Income 2015: $73,6362015Revenue 2016: $1,877,748Expenses 2016: $1,566,494Net Income 2016: $311,2542016Revenue 2017: $1,894,302Expenses 2017: $1,696,588Net Income 2017: $197,7142017Revenue 2018: $1,803,443Expenses 2018: $1,746,836Net Income 2018: $56,6072018Revenue 2019: $2,377,008Expenses 2019: $1,749,907Net Income 2019: $627,1012019Revenue 2020: $916,617Expenses 2020: $1,038,505Net Income 2020: -$121,8882020Revenue 2021: $3,761,020Expenses 2021: $1,706,029Net Income 2021: $2,054,9912021Revenue 2022: $2,098,531Expenses 2022: $2,136,365Net Income 2022: -$37,8342022Revenue 2023: $2,693,921Expenses 2023: $2,248,694Net Income 2023: $445,2272023Revenue 2024: $2,993,129Expenses 2024: $2,452,552Net Income 2024: $540,5772024

Highlighted filing

2023

Revenue$2,693,921
Expenses$2,248,694
Net Income$445,227
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Oct 17, 2024
Return Version
2023v5.0
Gross Receipts
$2,824,241
Mission and Program Overview

Mission

The mission of the midwest old settlers & threshers association is to preserve our agricultural heritage through education and entertainment.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,067,243$2,967,869▼ $99,374
Savings and Temporary Cash Investments$906,643$1,154,331▲ $247,688
Cash and Non-Interest-Bearing Accounts$668,105$914,851▲ $246,746
Inventories for Sale or Use$63,669$70,529▲ $6,860
Prepaid Expenses and Deferred Charges$29,184$29,183▼ $1
Total Assets$5,856,814$6,154,970▲ $298,156
Other Assets Total$1,121,970$1,018,207▼ $103,763
Liabilities
Accounts Payable and Accrued Expenses$47,340$176,503▲ $129,163
Mortgage Notes Payable Secured by Investment Property$95,388--
Other Liabilities$22,656$46,368▲ $23,712
Deferred Revenue$25,380$14,010▼ $11,370
Total Liabilities$190,764$236,881▲ $46,117
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$5,286,210$5,474,506▲ $188,296
Net Assets With Donor Restrictions$379,840$443,583▲ $63,743
Total Net Assets Fund Balance$5,666,050$5,918,089▲ $252,039
Total Liabilities and Net Assets / Fund Balance$5,856,814$6,154,970▲ $298,156

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,368,559$2,226,182$3,594,741
Equipment$565,855$1,723,227$2,289,082
Other Land Buildings$436,150$870,825$1,306,975
Land$597,305-$597,305
Other Assets Org$46,368--
Compensation and Service Providers
Top Officer Pay46th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Terry McwilliamsExecutive DiFT$117,302$117,302

Board Members and Trustees

NameTitle
Robert WelanderPresident
Carl ThompsonDirector
Chris HeatonDirector
Melinda HuisingaDirector
Paul BishopDirector
Ralph OliverDirector
Rich SebergDirector
Robert MyersDirector
Tim ImhoffDirector
Phil McmeinsSecretary
Alan BuckertTreasurer
Bob GerdesVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$770,602
Program Service Revenue
$1,837,956
Investment Income
$24,705
Other Revenue
$60,658
All Other Contributions
$583,498
Change in Net Assets
$445,227
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,807,244
Salaries, Compensation, and Employee Benefits$441,450
Total Fundraising Expense$114,369
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$246,306$102,628$61,577$410,511
Depreciation Depletion$217,004--$217,004
Occupancy$136,997$38,676$23,205$198,878
Fees for Services Other$98,902-$20,257$119,159
Insurance$90,333$15,941-$106,274
Advertising$98,498--$98,498
Office Expenses$43,667$10,717$1,624$56,008
Other Expenses$35,366$9,975-$45,341
Payroll Taxes$18,563$7,735$4,641$30,939
Travel-$15,991$2,822$18,813
Fees for Services Accounting-$18,712-$18,712
All Other Expenses$14,135$4,247$243$18,625
Interest$1,886$2,828-$4,714
Total Functional Expenses$1,873,820$260,505$114,369$2,248,694
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
Other Liabilities$46,368
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
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 6

“All people who purchase a membership to the 5 day midwest old settlers and threshers association reunion are considered members for the following year. These members are allowed to attend and vote at the annual meeting.”

Form 990, Page 6, Part VI, Line 7A

“Members of the governing body are elected at the annual meeting, which members may attend and vote.”

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

“The form 990 was reviewed by members of the governing body before it was filed.”

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

“The board reviews the conflict of interest policy annually. Each board member must disclose any potential conflicts of interest every year.”

Form 990, Page 6, Part VI, Line 19

“The organization's governing documents, policies, and financial statements are available to the public upon request during normal office hours at 405 e threshers rd.”

Filing and Contact Details

Filer

Filer Name
Midwest Old Settlers & Threshers
EIN
42-0777257
Phone
3193858937
Address
405 E THRESHERS RD, MT PLEASANT, IA 52641

Signing Officer

Name
Terry Mcwilliams
Title
Executive Director
Phone
3193858937
Signed
2024-10-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Terry Mcwilliams
Formed
1950
Legal Domicile
Ia
Voting Board Members
12
Independent Board Members
12
Employees
35
Volunteers
1,175

Preparer

Firm
Forge Financial & Management Consulting
Address
1245 JORDAN CREEK PKWY STE 100, WEST DES MOINES, IA 50266-2343
Preparer
Benjamin Winters CPA
Phone
5156203050
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“The association is exempt from income tax in accordance with section 501 (c)(3) of the internal revenue code. Non-private foundation status is maintained in accordance with section 170(b)(a)(vi) of the internal revenue code. The association is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.”

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Filings

Displayed year

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

Open filing
Assets
$6,154,970
Liabilities
$236,881
Net assets
$5,918,089
Revenue
$2,693,921
Expenses
$2,248,694
Net income
$445,227
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.60$0.08$6.51$2.99$2.45$0.54
2023Detailed filing. Detailed filing data is available for this year.$6.15$0.24$5.92$2.69$2.25$0.45
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.86$0.19$5.67$2.10$2.14$0.04
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.72$0.02$5.70$3.76$1.71$2.05
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.24$0.59$3.65$0.92$1.04$0.12
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.15$0.38$3.77$2.38$1.75$0.63
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.48$0.33$3.14$1.80$1.75$0.06
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.40$0.31$3.09$1.89$1.70$0.20
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.20$0.31$2.89$1.88$1.57$0.31
2015Detailed filing. Detailed filing data is available for this year.$2.84$0.26$2.58$1.57$1.49$0.07
2014Detailed filing. Detailed filing data is available for this year.$2.90$0.40$2.51$1.55$1.43$0.12
2013Detailed filing. Detailed filing data is available for this year.$2.79$0.40$2.38$1.47$1.49$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.75$0.35$2.40$1.33
2011Summary only. Only limited summary data is available for this year.$2.65$0.27$2.39$1.31$1.23$0.07
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.62$0.30$2.31$1.27