Civic Intelligence

Fairfield Economic Development Association Incorporated

990 • Fiscal year 2017 • EIN 42-1111039

Jul 01, 2016 to Jun 30, 2017 • Filed on Feb 27, 2018

Organization ProfileWWW.GROWFAIRFIELD.COM
101 North CourtFairfield, IA 52556-0024

(641) 472-3436

Siviq Scores

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

Liabilities / Assets

72nd percentile

0.36x

Higher debt load relative to assets than 72% of similar nonprofits.

2017 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

99th percentile

4.03x

Higher debt load relative to revenue than 99% of similar nonprofits.

2017 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2017

Net Margin

87th percentile

20%

Higher net margin than 87% of similar nonprofits.

2017 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

24th percentile

$8,667

Higher top officer pay than 24% of similar nonprofits.

Top officer pay equals 4.9% of source-year revenue.

2017 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2017

Asset Growth

45th percentile

3.9%

Faster asset growth than 45% of similar nonprofits.

2017 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

10th percentile

-14%

Faster revenue growth than 10% of similar nonprofits.

2017 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets72nd percentile

Assets

Up

$2,005,506

Up $74,487 (+3.9%) from 2016

Net Assets

Up

$1,289,600

Up $19,800 (+1.6%) from 2016

Liabilities

Up

$715,906

Up $54,687 (+8.3%) from 2016

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin87th percentile

Revenue

Down

$177,843

Down $28,120 (-14%) from 2016

Expenses

Down

$142,054

Down $17,588 (-11%) from 2016

Net Income

Down

$35,789

Down $10,532 (-23%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth45th percentile

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

$3.0M$2.0M$1.0M$0Assets 2011: $1,579,637Liabilities 2011: $49,271Net Assets 2011: $1,530,3662011Assets 2012: $1,555,641Liabilities 2012: $39,202Net Assets 2012: $1,516,4392012Assets 2013: $2,435,281Liabilities 2013: $1,039,990Net Assets 2013: $1,395,2912013Assets 2014: $2,426,158Liabilities 2014: $1,044,658Net Assets 2014: $1,381,5002014Assets 2015: $2,310,182Liabilities 2015: $1,051,216Net Assets 2015: $1,258,9662015Assets 2016: $1,931,019Liabilities 2016: $661,219Net Assets 2016: $1,269,8002016Assets 2017: $2,005,506Liabilities 2017: $715,906Net Assets 2017: $1,289,6002017Assets 2018: $1,563,091Liabilities 2018: $255,547Net Assets 2018: $1,307,5442018Assets 2019: $2,122,297Liabilities 2019: $853,796Net Assets 2019: $1,268,5012019Assets 2020: $2,140,873Liabilities 2020: $885,608Net Assets 2020: $1,255,2652020Assets 2021: $2,182,962Liabilities 2021: $888,846Net Assets 2021: $1,294,1162021Assets 2022: $1,599,604Liabilities 2022: $207,518Net Assets 2022: $1,392,0862022Assets 2023: $1,752,007Liabilities 2023: $411,993Net Assets 2023: $1,340,0142023Assets 2024: $2,274,006Liabilities 2024: $425,747Net Assets 2024: $1,848,2592024

Highlighted filing

2017

Assets$2,005,506
Liabilities$715,906
Net Assets$1,289,600
Open 2017 Filing

Operations Trend

Revenue Growth10th percentile

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

$800K$600K$400K$200K$0-$200KExpenses 2011: $105,4312011Expenses 2012: $57,3072012Revenue 2013: $162,362Expenses 2013: $273,754Net Income 2013: -$111,3922013Revenue 2014: $129,421Expenses 2014: $146,312Net Income 2014: -$16,8912014Revenue 2015: $213,293Expenses 2015: $150,900Net Income 2015: $62,3932015Revenue 2016: $205,963Expenses 2016: $159,642Net Income 2016: $46,3212016Revenue 2017: $177,843Expenses 2017: $142,054Net Income 2017: $35,7892017Revenue 2018: $151,927Expenses 2018: $135,583Net Income 2018: $16,3442018Revenue 2019: $108,643Expenses 2019: $134,186Net Income 2019: -$25,5432019Revenue 2020: $117,404Expenses 2020: $130,640Net Income 2020: -$13,2362020Revenue 2021: $170,518Expenses 2021: $126,567Net Income 2021: $43,9512021Revenue 2022: $243,784Expenses 2022: $141,714Net Income 2022: $102,0702022Revenue 2023: $125,439Expenses 2023: $165,511Net Income 2023: -$40,0722023Revenue 2024: $652,704Expenses 2024: $154,059Net Income 2024: $498,6452024

Highlighted filing

2017

Revenue$177,843
Expenses$142,054
Net Income$35,789
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Feb 27, 2018
Return Version
2016v3.1
Gross Receipts
$273,103
Mission and Program Overview

Mission

To sustain and improve the quality of life of the citizens of fairfield, iowa through targeted economic development initiatives and programs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$1,269,800$1,289,600▲ $19,800
Land, Buildings, and Equipment, Net$1,003,258$1,057,814▲ $54,556
Savings and Temporary Cash Investments$600,000$600,000→ $0
Cash and Non-Interest-Bearing Accounts$307,014$333,860▲ $26,846
Prepaid Expenses and Deferred Charges$4,910$3,190▼ $1,720
Total Assets$1,931,019$2,005,506▲ $74,487
Other Assets Total$15,837$10,642▼ $5,195
Liabilities
Mortgage Notes Payable Secured by Investment Property$600,000$665,000▲ $65,000
Accounts Payable and Accrued Expenses$39,724$30,317▼ $9,407
Deferred Revenue$21,495$20,589▼ $906
Total Liabilities$661,219$715,906▲ $54,687
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,269,800$1,289,600▲ $19,800
Total Liabilities and Net Assets / Fund Balance$1,931,019$2,005,506▲ $74,487

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$236,668$264,636$501,304
Land$785,085-$55,300
Leasehold Improvements$35,673$9,428$45,101
Equipment$276$4,665$4,941
Other Land Buildings$112$3,028$3,140
Compensation and Service Providers
Top Officer Pay24th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Joshua LarabySecretary/edFT$8,667$8,667

Board Members and Trustees

NameTitle
Jodi KerrPresident
Amy JonesDirector
J Daniel SullivanDirector
Ken RossDirector
Melanie Carlson Left 42017Director
Greg LowenbergTreasurer
Tim KuikenVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$70,550
Program Service Revenue
$0
Investment Income
$53,069
Other Revenue
$54,224
All Other Contributions
$2,050
Change in Net Assets
$35,789
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$62,184
Other Expenses$54,907
Grants and Similar Amounts Paid$24,963
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees---$58,092
Grants to Domestic Orgs---$24,963
Advertising---$7,019
Office Expenses---$6,621
Fees for Services Accounting---$4,842
Payroll Taxes---$4,092
Conferences and Meetings---$3,710
All Other Expenses---$3,236
Travel---$2,920
Other Expenses---$2,667
Depreciation Depletion---$1,127
Fees for Services Legal---$984
Total Functional Expenses$0$0$0$142,054
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Greater Jefferson County FdFairfield, IA501c3General Funding$20,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$8,170
Fundraising Direct Expenses$7,023
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
Yes
Subject to proxy tax
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“Various individuals and businesses from the community interested in furthering the economic well-being of the community.”

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

“Annual meeting of members to review operations, vote for directors on rotating basis, and direct business objectives for the coming year.”

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

“Monthly meeting of board of directors to review actions and plan for future actions.”

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

“Board of directors review prior to filing.”

Form 990, Page 6, Part VI, Line 19

“Documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Fairfield Economic
EIN
42-1111039
Phone
6414723436
Address
101 NORTH COURT, FAIRFIELD, IA 52556-0024

Signing Officer

Name
Greg Lowenberg
Title
Treasurer
Phone
6414723436
Signed
2018-02-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jodi Kerr
Formed
1978
Legal Domicile
Ia
Voting Board Members
7
Independent Board Members
6
Employees
2
Volunteers
6

Preparer

Firm
Td&t Cpas and Advisors Pc
Address
1700 42ND ST NE, CEDAR RAPIDS, IA 52402
Preparer
Amanda L Lane CPA
Phone
3193932374
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“Organization supports fairfield community through land sales and donations.”

Raw XML Appendix370 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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IRS990ScheduleD/EquipmentGrp/BookValueAmt0276
IRS990ScheduleD/EquipmentGrp/DepreciationAmt04665
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt04941
IRS990ScheduleD/LandGrp/BookValueAmt0785085
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt0729785
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt055300
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt035673
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt09428
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt045101
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0112
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt03028
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt03140
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01057814
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/RecipientTable/CashGrantAmt020000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501C3
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0GENERAL FUNDING
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0GREATER JEFFERSON COUNTY FD
IRS990ScheduleI/RecipientTable/RecipientEIN0510172078
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01200 W STONE AVE
IRS990ScheduleI/RecipientTable/USAddress/CityNm0FAIRFIELD
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0IA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd052556
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0BEFORE DISTRIBUTING A GRANT, AN ASSESSMENT OF WHAT IS NEEDED IS COMPLETED BY THE GRANTEE. THE FUNDS ARE THEN DISTRIBUTED BASED UPON THE NEEDS OF VARIOUS INDIVIDUALS, BUSINESSES, OR ORGANIZATIONS.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PAGE 1, PART I, LINE 2
IRS990ScheduleI/Total501c3OrgCnt01
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ORGANIZATION SUPPORTS FAIRFIELD COMMUNITY THROUGH LAND SALES AND DONATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1VARIOUS INDIVIDUALS AND BUSINESSES FROM THE COMMUNITY INTERESTED IN FURTHERING THE ECONOMIC WELL-BEING OF THE COMMUNITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ANNUAL MEETING OF MEMBERS TO REVIEW OPERATIONS, VOTE FOR DIRECTORS ON ROTATING BASIS, AND DIRECT BUSINESS OBJECTIVES FOR THE COMING YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MONTHLY MEETING OF BOARD OF DIRECTORS TO REVIEW ACTIONS AND PLAN FOR FUTURE ACTIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BOARD OF DIRECTORS REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0true
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01931019
IRS990/TotalAssetsEOYAmt02005506
IRS990/TotalAssetsGrp/BOYAmt01931019
IRS990/TotalAssetsGrp/EOYAmt02005506
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt070550
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0142054
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0661219
IRS990/TotalLiabilitiesEOYAmt0715906
IRS990/TotalLiabilitiesGrp/BOYAmt0661219
IRS990/TotalLiabilitiesGrp/EOYAmt0715906
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01269800
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01289600
IRS990/TotalReportableCompFromOrgAmt08667
IRS990/TotalRevenueGrp/ExclusionAmt062287
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt045006
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0177843
IRS990/TotalVolunteersCnt06
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01931019
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02005506
IRS990/TravelGrp/TotalAmt02920
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0101 NORTH COURT
IRS990/USAddress/CityNm0FAIRFIELD
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd052556
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0WWW.GROWFAIRFIELD.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-03-14 21:41:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0GREG LOWENBERG
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum06414723436
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-02-27
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FAIRFIELD ECONOMIC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DEVELOPMENT ASSOC
ReturnHeader/Filer/BusinessNameControlTxt0FAIR
ReturnHeader/Filer/EIN0421111039
ReturnHeader/Filer/PhoneNum06414723436
ReturnHeader/Filer/USAddress/AddressLine1Txt0101 NORTH COURT
ReturnHeader/Filer/USAddress/CityNm0FAIRFIELD
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd0525560024
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId035D3879163D6E86CE39169CEF1932A0DEFAB2344
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0CB000F37CE8FAE44B7EB97F79A89D7004651EC5F
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0421029744
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0TD&T CPAS AND ADVISORS PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01700 42ND ST NE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CEDAR RAPIDS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd052402
ReturnHeader/PreparerPersonGrp/PhoneNum03193932374
ReturnHeader/PreparerPersonGrp/PreparationDt02018-03-05
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0AMANDA L LANE CPA
ReturnHeader/ReturnTs02018-03-12T11:46:17-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-07-01
ReturnHeader/TaxPeriodEndDt02017-06-30
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,005,506
Liabilities
$715,906
Net assets
$1,289,600
Revenue
$177,843
Expenses
$142,054
Net income
$35,789
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.27$0.43$1.85$0.65$0.15$0.50
2023Detailed filing. Detailed filing data is available for this year.$1.75$0.41$1.34$0.13$0.17$0.04
2022Detailed filing. Detailed filing data is available for this year.$1.60$0.21$1.39$0.24$0.14$0.10
2021Detailed filing. Detailed filing data is available for this year.$2.18$0.89$1.29$0.17$0.13$0.04
2020Detailed filing. Detailed filing data is available for this year.$2.14$0.89$1.26$0.12$0.13$0.01
2019Detailed filing. Detailed filing data is available for this year.$2.12$0.85$1.27$0.11$0.13$0.03
2018Detailed filing. Detailed filing data is available for this year.$1.56$0.26$1.31$0.15$0.14$0.02
2017Detailed filing. Detailed filing data is available for this year.$2.01$0.72$1.29$0.18$0.14$0.04
2016Detailed filing. Detailed filing data is available for this year.$1.93$0.66$1.27$0.21$0.16$0.05
2015Detailed filing. Detailed filing data is available for this year.$2.31$1.05$1.26$0.21$0.15$0.06
2014Detailed filing. Detailed filing data is available for this year.$2.43$1.04$1.38$0.13$0.15$0.02
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.44$1.04$1.40$0.16$0.27$0.11
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.56$0.04$1.52$0.06
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.58$0.05$1.53$0.11