Civic Intelligence

Fairfield Economic Development Association Incorporated

990 • Fiscal year 2019 • EIN 42-1111039

Jul 01, 2018 to Jun 30, 2019 • Filed on May 04, 2020

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

77th percentile

0.40x

Higher debt load relative to assets than 77% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

99th percentile

7.86x

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

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Net Margin

4th percentile

-24%

Higher net margin than 4% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

28th percentile

$61,683

Higher top officer pay than 28% of similar nonprofits.

Top officer pay equals 56.8% of source-year revenue.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Asset Growth

92nd percentile

36%

Faster asset growth than 92% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

4th percentile

-28%

Faster revenue growth than 4% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets77th percentile

Assets

Up

$2,122,297

Up $559,206 (+36%) from 2018

Net Assets

Down

$1,268,501

Down $39,043 (-3.0%) from 2018

Liabilities

Up

$853,796

Up $598,249 (+234%) from 2018

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin4th percentile

Revenue

Down

$108,643

Down $43,284 (-28%) from 2018

Expenses

Down

$134,186

Down $1,397 (-1.0%) from 2018

Net Income

Down

-$25,543

Down $41,887 (-256%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth92nd 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

2019

Assets$2,122,297
Liabilities$853,796
Net Assets$1,268,501
Open 2019 Filing

Operations Trend

Revenue Growth4th 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

2019

Revenue$108,643
Expenses$134,186
Net Income-$25,543
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
May 4, 2020
Return Version
2018v3.2
Gross Receipts
$221,887
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
Land, Buildings, and Equipment, Net$1,061,209$1,606,496▲ $545,287
Rtn Earn Endowment Incm Other Fnds$1,307,544$1,268,501▼ $39,043
Cash and Non-Interest-Bearing Accounts$332,963$344,045▲ $11,082
Savings and Temporary Cash Investments$150,000$150,000→ $0
Prepaid Expenses and Deferred Charges$3,964$2,791▼ $1,173
Accounts Receivable$280--
Total Assets$1,563,091$2,122,297▲ $559,206
Other Assets Total$14,675$18,965▲ $4,290
Liabilities
Mortgage Notes Payable Secured by Investment Property$215,000$813,668▲ $598,668
Accounts Payable and Accrued Expenses$22,998$31,212▲ $8,214
Deferred Revenue$17,549$8,916▼ $8,633
Total Liabilities$255,547$853,796▲ $598,249
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,307,544$1,268,501▼ $39,043
Total Liabilities and Net Assets / Fund Balance$1,563,091$2,122,297▲ $559,206

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$210,960$290,344$501,304
Leasehold Improvements$54,191$16,886$71,077
Land$1,341,345-$55,300
Equipment-$4,941$4,941
Other Land Buildings-$3,140$3,140
Compensation and Service Providers
Top Officer Pay28th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Joshua LarabySecretary/edFT$54,383$7,300$61,683

Board Members and Trustees

NameTitle
Tim KuikenPresident
Alissa Doyle-ward - Joined Nov 2018Director
Amy JonesDirector
Curtis SmithDirector
Ken RossDirector
Roger VorhiesDirector
Greg LowenbergTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$74,500
Program Service Revenue
$0
Investment Income
$-6,828
Other Revenue
$40,971
Change in Net Assets
$-25,543
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$90,851
Other Expenses$33,182
Grants and Similar Amounts Paid$10,153
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees---$64,582
Other Salaries and Wages---$19,051
Grants to Domestic Orgs---$10,153
Office Expenses---$7,988
Payroll Taxes---$6,054
Fees for Services Accounting---$4,814
Conferences and Meetings---$4,363
Travel---$3,844
Advertising---$2,289
Occupancy---$2,164
Insurance---$2,040
Other Employee Benefits---$1,164
Fees for Services Legal---$1,156
Other Expenses---$555
Total Functional Expenses$0$0$0$134,186
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Greater Jefferson County FdFairfield, IA501c3General Funding$10,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$8,855
Fundraising Direct Expenses$7,553
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
2020-05-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tim Kuiken
Formed
1978
Legal Domicile
Ia
Voting Board Members
8
Independent Board Members
7
Employees
2
Volunteers
15

Preparer

Firm
Tdt 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 Appendix378 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/BuildingsGrp/DepreciationAmt0290344
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0501304
IRS990ScheduleD/EquipmentGrp/DepreciationAmt04941
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt04941
IRS990ScheduleD/LandGrp/BookValueAmt01341345
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt01286045
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt055300
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt054191
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt016886
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt071077
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt03140
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt03140
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01606496
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IRS990ScheduleI/RecipientTable/CashGrantAmt010000
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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
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0true
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt02122297
IRS990/TotalAssetsGrp/BOYAmt01563091
IRS990/TotalAssetsGrp/EOYAmt02122297
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt074500
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0134186
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0255547
IRS990/TotalLiabilitiesEOYAmt0853796
IRS990/TotalLiabilitiesGrp/BOYAmt0255547
IRS990/TotalLiabilitiesGrp/EOYAmt0853796
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01307544
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01268501
IRS990/TotalOtherCompensationAmt07300
IRS990/TotalReportableCompFromOrgAmt054383
IRS990/TotalRevenueGrp/ExclusionAmt039599
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0-5456
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0108643
IRS990/TotalVolunteersCnt015
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01563091
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02122297
IRS990/TravelGrp/TotalAmt03844
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0605 S 23RD ST 102
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IRS990/WebsiteAddressTxt0WWW.GROWFAIRFIELD.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-11-19 02:30:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0GREG LOWENBERG
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum06414723436
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-05-04
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
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ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0D14515F2C9131908D69BFB4EADC9AFB1FF5F8D0E
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ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt052.37.240.203
ReturnHeader/FilingSecurityInformation/IPDt02020-05-13
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm017:18:36
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0421029744
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0TDT 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/PreparationDt02020-05-04
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0AMANDA L LANE CPA
ReturnHeader/ReturnTs02020-05-13T17:18:36-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-07-01
ReturnHeader/TaxPeriodEndDt02019-06-30
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$2,122,297
Liabilities
$853,796
Net assets
$1,268,501
Revenue
$108,643
Expenses
$134,186
Net income
-$25,543
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