Civic Intelligence

Albia Industrial Development Corporation

990 • Fiscal year 2016 • EIN 42-0927912

Jan 01, 2016 to Dec 31, 2016 • Filed on Aug 11, 2017

Organization ProfileWWW.ALBIAINDUSTRIAL.COM
1 Benton Avenue WestAlbia, IA 52531

(641) 932-7233

Siviq Scores

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

Liabilities / Assets

69th percentile

0.03x

Higher debt load relative to assets than 69% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

71st percentile

0.03x

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

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Net Margin

74th percentile

18%

Higher net margin than 74% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Top Officer Pay

97th percentile

$83,580

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 62.8% of source-year revenue.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Asset Growth

69th percentile

16%

Faster asset growth than 69% of similar nonprofits.

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

Revenue Growth

72nd percentile

19%

Faster revenue growth than 72% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets69th percentile

Assets

Up

$110,775

Up $15,350 (+16%) from 2015

Net Assets

Up

$107,271

Up $23,643 (+28%) from 2015

Liabilities

Down

$3,504

Down $8,293 (-70%) from 2015

Revenue And Expenses
Liabilities / Revenue71st percentileNet Margin74th percentile

Revenue

Up

$133,057

Up $21,657 (+19%) from 2015

Expenses

Down

$109,414

Down $2,731 (-2.4%) from 2015

Net Income

Up

$23,643

Up $24,388 (+3274%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth69th percentile

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

$400K$300K$200K$100K$0Assets 2010: $302,865Liabilities 2010: $179,770Net Assets 2010: $123,0952010Assets 2011: $238,939Liabilities 2011: $190,892Net Assets 2011: $48,0472011Assets 2012: $116,590Liabilities 2012: $45,670Net Assets 2012: $70,9202012Assets 2013: $114,454Liabilities 2013: $34,554Net Assets 2013: $79,9002013Assets 2014: $107,695Liabilities 2014: $23,322Net Assets 2014: $84,3732014Assets 2015: $95,425Liabilities 2015: $11,797Net Assets 2015: $83,6282015Assets 2016: $110,775Liabilities 2016: $3,504Net Assets 2016: $107,2712016Assets 2017: $121,283Liabilities 2017: $3,619Net Assets 2017: $117,6642017Assets 2018: $129,502Liabilities 2018: $2,755Net Assets 2018: $126,7472018Assets 2019: $126,329Liabilities 2019: $22,794Net Assets 2019: $103,5352019Assets 2020: $187,445Liabilities 2020: $1,772Net Assets 2020: $185,6732020Assets 2021: $187,043Liabilities 2021: $3,798Net Assets 2021: $183,2452021Assets 2022: $201,091Liabilities 2022: $27,141Net Assets 2022: $173,9502022Assets 2023: $187,574Liabilities 2023: $0Net Assets 2023: $187,5742023Assets 2024: $196,998Liabilities 2024: $0Net Assets 2024: $196,9982024

Highlighted filing

2016

Assets$110,775
Liabilities$3,504
Net Assets$107,271
Open 2016 Filing

Operations Trend

Revenue Growth72nd percentile

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

$300K$200K$100K$0-$100KExpenses 2010: $193,5732010Revenue 2011: $74,274Expenses 2011: $149,322Net Income 2011: -$75,0482011Revenue 2012: $144,428Expenses 2012: $121,555Net Income 2012: $22,8732012Revenue 2013: $115,574Expenses 2013: $106,594Net Income 2013: $8,9802013Revenue 2014: $114,065Expenses 2014: $109,592Net Income 2014: $4,4732014Revenue 2015: $111,400Expenses 2015: $112,145Net Income 2015: -$7452015Revenue 2016: $133,057Expenses 2016: $109,414Net Income 2016: $23,6432016Revenue 2017: $118,049Expenses 2017: $107,656Net Income 2017: $10,3932017Revenue 2018: $119,844Expenses 2018: $110,761Net Income 2018: $9,0832018Revenue 2019: $118,099Expenses 2019: $141,311Net Income 2019: -$23,2122019Revenue 2020: $205,970Expenses 2020: $123,832Net Income 2020: $82,1382020Revenue 2021: $125,513Expenses 2021: $127,941Net Income 2021: -$2,4282021Revenue 2022: $118,064Expenses 2022: $127,359Net Income 2022: -$9,2952022Revenue 2023: $181,799Expenses 2023: $168,175Net Income 2023: $13,6242023Revenue 2024: $178,441Expenses 2024: $169,017Net Income 2024: $9,4242024

Highlighted filing

2016

Revenue$133,057
Expenses$109,414
Net Income$23,643
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Aug 11, 2017
Return Version
2016v3.0
Gross Receipts
$133,057
Mission and Program Overview

Mission

Promote the economic development and employment opportunities in monroe county, iowa, including the city of albia by advertising and publicizing the advantages of the area and assisting in locating, developing and making available suitable industrial sites and locations.

Promote the economic development and employment opportunities in monroe county, iowa, including the city of albia by advertising and publicizing the advantages of the area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$50,000$65,000▲ $15,000
Land, Buildings, and Equipment, Net$42,303$42,303→ $0
Cash and Non-Interest-Bearing Accounts$3,122$3,472▲ $350
Total Assets$95,425$110,775▲ $15,350
Liabilities
Mortgage Notes Payable Secured by Investment Property$8,446--
Accounts Payable and Accrued Expenses$3,351$3,504▲ $153
Total Liabilities$11,797$3,504▼ $8,293
Net Assets / Fund Balance
Unrestricted Net Assets$83,628$107,271▲ $23,643
Total Net Assets Fund Balance$83,628$107,271▲ $23,643
Total Liabilities and Net Assets / Fund Balance$95,425$110,775▲ $15,350

Asset Categories

AssetBook ValueDepreciationBasis
Land$42,303--
Equipment-$20,502-
Compensation and Service Providers
Top Officer Pay97th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dan TometichPresidentFT$77,496$6,084$83,580

Board Members and Trustees

NameTitle
David JohnsonDirector
Jack ScieszinskiDirector
Joe CrallDirector
John FreshwaterDirector
John HughesDirector
Kevin KnessDirector
Richard ColtrainDirector
Dr John ScieszinskiVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$133,000
Program Service Revenue
$0
Investment Income
$8
Other Revenue
$49
All Other Contributions
$3,000
Change in Net Assets
$23,643
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$89,509
Other Expenses$19,905
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$77,496--$77,496
Occupancy$8,741--$8,741
Payroll Taxes$5,928--$5,928
Pension Plan Contributions$4,667--$4,667
Advertising$3,375--$3,375
Insurance$1,500--$1,500
Other Employee Benefits$1,418--$1,418
Information Technology$1,200--$1,200
Office Expenses$1,154--$1,154
Fees for Services Accounting$995--$995
Travel$885--$885
Interest$242--$242
Other Expenses$220--$220
Conferences and Meetings$79--$79
All Other Expenses$45--$45
Total Functional Expenses$109,414$0$0$109,414
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
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, Page 6, Part VI, Line 11B

“Reviewed by the president, who discusses it with the other board members prior to approval.”

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

“President monitors the members, and the other members monitor the president to ensure no perceived or actual conflict of interest exists.”

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

“Reviewed by the board of directors, and approved by the board of directors, as documented in the board minutes.”

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

“Reviewed by the board of directors, and approved by the board of directors, as documented in the board minutes.”

Form 990, Page 6, Part VI, Line 19

“Available to the public upon request, during normal business hours.”

Filing and Contact Details

Filer

Filer Name
Albia Industrial Development
EIN
42-0927912
Phone
6419327233
Address
1 BENTON AVENUE WEST, ALBIA, IA 52531

Signing Officer

Name
Dan Tometich
Title
President
Phone
6419327233
Signed
2017-08-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Johnson
Formed
1956
Legal Domicile
Ia
Voting Board Members
9
Independent Board Members
8
Employees
1
Volunteers
2

Preparer

Firm
Faller Kincheloe and Co Plc
Address
2721 SW 30TH ST, DES MOINES, IA 50321-1409
Preparer
Alan Kincheloe
Phone
5153625672
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Promote the economic development and employment opportunities in monroe county, iowa, including the city of albia by advertising and publicizing the advantages of the area and assisting in locating, developing and making available suitable industrial sites and locations.”

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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0106400
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0108000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0110000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0130000
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0587400
IRS990ScheduleA/TotalSupportAmt0587455
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/DepreciationAmt020502
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt020502
IRS990ScheduleD/LandGrp/BookValueAmt042303
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt042303
IRS990ScheduleD/TotalBookValueLandBuildingsAmt042303
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PROMOTE THE ECONOMIC DEVELOPMENT AND EMPLOYMENT OPPORTUNITIES IN MONROE COUNTY, IOWA, INCLUDING THE CITY OF ALBIA BY ADVERTISING AND PUBLICIZING THE ADVANTAGES OF THE AREA AND ASSISTING IN LOCATING, DEVELOPING AND MAKING AVAILABLE SUITABLE INDUSTRIAL SITES AND LOCATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1REVIEWED BY THE PRESIDENT, WHO DISCUSSES IT WITH THE OTHER BOARD MEMBERS PRIOR TO APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2PRESIDENT MONITORS THE MEMBERS, AND THE OTHER MEMBERS MONITOR THE PRESIDENT TO ENSURE NO PERCEIVED OR ACTUAL CONFLICT OF INTEREST EXISTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3REVIEWED BY THE BOARD OF DIRECTORS, AND APPROVED BY THE BOARD OF DIRECTORS, AS DOCUMENTED IN THE BOARD MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4REVIEWED BY THE BOARD OF DIRECTORS, AND APPROVED BY THE BOARD OF DIRECTORS, AS DOCUMENTED IN THE BOARD MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5AVAILABLE TO THE PUBLIC UPON REQUEST, DURING NORMAL BUSINESS HOURS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt095425
IRS990/TotalAssetsEOYAmt0110775
IRS990/TotalAssetsGrp/BOYAmt095425
IRS990/TotalAssetsGrp/EOYAmt0110775
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0133000
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0109414
IRS990/TotalFunctionalExpensesGrp/TotalAmt0109414
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt011797
IRS990/TotalLiabilitiesEOYAmt03504
IRS990/TotalLiabilitiesGrp/BOYAmt011797
IRS990/TotalLiabilitiesGrp/EOYAmt03504
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt083628
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0107271
IRS990/TotalOtherCompensationAmt06084
IRS990/TotalProgramServiceExpensesAmt0109414
IRS990/TotalReportableCompFromOrgAmt077496
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt057
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0133057
IRS990/TotalVolunteersCnt02
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt095425
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0110775
IRS990/TravelGrp/ProgramServicesAmt0885
IRS990/TravelGrp/TotalAmt0885
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt083628
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0107271
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01 BENTON AVENUE WEST
IRS990/USAddress/CityNm0ALBIA
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd052531
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt08
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DAN TOMETICH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06419327233
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-08-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ALBIA INDUSTRIAL DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0ALBI
ReturnHeader/Filer/EIN0420927912
ReturnHeader/Filer/PhoneNum06419327233
ReturnHeader/Filer/USAddress/AddressLine1Txt01 BENTON AVENUE WEST
ReturnHeader/Filer/USAddress/CityNm0ALBIA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd052531
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId06757C0717FEA58D2B7B782FC8619F0AEC2022F27
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId043471ACA58B8BBDA87E4F0B891574A96E7D226E7
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0261600907
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0FALLER KINCHELOE AND CO PLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02721 SW 30TH ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0DES MOINES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0503211409
ReturnHeader/PreparerPersonGrp/PhoneNum05153625672
ReturnHeader/PreparerPersonGrp/PreparationDt02017-08-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ALAN KINCHELOE
ReturnHeader/ReturnTs02017-08-14T12:19:14-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$110,775
Liabilities
$3,504
Net assets
$107,271
Revenue
$133,057
Expenses
$109,414
Net income
$23,643
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.97$0.00$1.97$1.78$1.69$0.09
2023Detailed filing. Detailed filing data is available for this year.$1.88$0.00$1.88$1.82$1.68$0.14
2022Detailed filing. Detailed filing data is available for this year.$2.01$0.27$1.74$1.18$1.27$0.09
2021Detailed filing. Detailed filing data is available for this year.$1.87$0.04$1.83$1.26$1.28$0.02
2020Detailed filing. Detailed filing data is available for this year.$1.87$0.02$1.86$2.06$1.24$0.82
2019Detailed filing. Detailed filing data is available for this year.$1.26$0.23$1.04$1.18$1.41$0.23
2018Detailed filing. Detailed filing data is available for this year.$1.30$0.03$1.27$1.20$1.11$0.09
2017Detailed filing. Detailed filing data is available for this year.$1.21$0.04$1.18$1.18$1.08$0.10
2016Detailed filing. Detailed filing data is available for this year.$1.11$0.04$1.07$1.33$1.09$0.24
2015Detailed filing. Detailed filing data is available for this year.$0.95$0.12$0.84$1.11$1.12$0.01
2014Detailed filing. Detailed filing data is available for this year.$1.08$0.23$0.84$1.14$1.10$0.04
2013Detailed filing. Detailed filing data is available for this year.$1.14$0.35$0.80$1.16$1.07$0.09
2012Summary only. Only limited summary data is available for this year.$1.17$0.46$0.71$1.44$1.22$0.23
2011Summary only. Only limited summary data is available for this year.$2.39$1.91$0.48$0.74$1.49$0.75
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.03$1.80$1.23$1.94