Civic Intelligence

Fairfield Economic Development Association Incorporated

990 • Fiscal year 2020 • EIN 42-1111039

Jul 01, 2019 to Jun 30, 2020 • Filed on Jan 07, 2021

Organization ProfileWWW.GROWFAIRFIELD.COM
PO Box 1388Fairfield, IA 52556-0024

(641) 472-3436

Siviq Scores

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

Liabilities / Assets

80th percentile

0.41x

Higher debt load relative to assets than 80% of similar nonprofits.

2020 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

99th percentile

7.54x

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

2020 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2020

Net Margin

14th percentile

-11%

Higher net margin than 14% of similar nonprofits.

2020 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

28th percentile

$67,283

Higher top officer pay than 28% of similar nonprofits.

Top officer pay equals 57.3% of source-year revenue.

2020 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2020

Asset Growth

36th percentile

0.9%

Faster asset growth than 36% of similar nonprofits.

2020 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

84th percentile

8.1%

Faster revenue growth than 84% of similar nonprofits.

2020 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets80th percentile

Assets

Up

$2,140,873

Up $18,576 (+0.9%) from 2019

Net Assets

Down

$1,255,265

Down $13,236 (-1.0%) from 2019

Liabilities

Up

$885,608

Up $31,812 (+3.7%) from 2019

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin14th percentile

Revenue

Up

$117,404

Up $8,761 (+8.1%) from 2019

Expenses

Down

$130,640

Down $3,546 (-2.6%) from 2019

Net Income

Up

-$13,236

Up $12,307 (+48%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth36th 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

2020

Assets$2,140,873
Liabilities$885,608
Net Assets$1,255,265
Open 2020 Filing

Operations Trend

Revenue Growth84th 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

2020

Revenue$117,404
Expenses$130,640
Net Income-$13,236
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Jan 7, 2021
Return Version
2019v5.0
Gross Receipts
$196,384
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$1,606,496$1,770,167▲ $163,671
Rtn Earn Endowment Incm Other Fnds$1,268,501$1,255,265▼ $13,236
Cash and Non-Interest-Bearing Accounts$344,045$199,207▼ $144,838
Savings and Temporary Cash Investments$150,000$150,000→ $0
Prepaid Expenses and Deferred Charges$2,791$2,991▲ $200
Total Assets$2,122,297$2,140,873▲ $18,576
Other Assets Total$18,965$18,508▼ $457
Liabilities
Mortgage Notes Payable Secured by Investment Property$813,668$856,721▲ $43,053
Accounts Payable and Accrued Expenses$31,212$26,101▼ $5,111
Deferred Revenue$8,916$2,786▼ $6,130
Total Liabilities$853,796$885,608▲ $31,812
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,268,501$1,255,265▼ $13,236
Total Liabilities and Net Assets / Fund Balance$2,122,297$2,140,873▲ $18,576

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$198,106$303,198$501,304
Leasehold Improvements$50,205$20,872$71,077
Land$1,521,856-$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$59,983$7,300$67,283

Board Members and Trustees

NameTitle
Amy JonesPresident
Tim Kuiken - Left 162020President
Alissa Doyle-wardDirector
Curtis SmithDirector
Joe SteverDirector
Ken RossDirector
Roger VorhiesDirector
Greg LowenbergTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Schaus-vorhies ContractingConstruction300 N 16TH ST 400, Fairfiled, IA 52556$180,124
Revenue and Support

Revenue Composition

Contributions and Grants
$74,500
Program Service Revenue
$0
Investment Income
$3,140
Other Revenue
$39,764
Change in Net Assets
$-13,236
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$90,248
Other Expenses$29,892
Grants and Similar Amounts Paid$10,500
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees---$68,677
Other Salaries and Wages---$14,573
Grants to Domestic Orgs---$10,500
Occupancy---$6,964
Payroll Taxes---$5,772
Advertising---$4,702
Fees for Services Accounting---$3,516
Office Expenses---$2,824
Insurance---$2,507
Travel---$2,295
Conferences and Meetings---$2,141
Other Employee Benefits---$1,226
Other Expenses---$225
Total Functional Expenses$0$0$0$130,640
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$10,137
Fundraising Direct Expenses$8,295
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 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
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
PO BOX 1388, FAIRFIELD, IA 52556-0024

Signing Officer

Name
Amy Jones
Title
President
Phone
6414723436
Signed
2021-01-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Amy Jones
Formed
1978
Legal Domicile
Ia
Voting Board Members
7
Independent Board Members
7
Employees
2
Volunteers
10

Preparer

Firm
Tdt Cpas and Advisors Pc
Address
2109 WEST JEFFERSON AVENUE, FAIRFIELD, IA 52556
Preparer
Jodi R Kerr CPA
Phone
6414726171
Supplemental Narrative

Additional Explanations

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

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

Raw XML Appendix372 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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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
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IRS990ScheduleC/OnlyInHouseLobbyingInd0true
IRS990ScheduleC/SubstantiallyAllDuesNondedInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0198106
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0303198
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0501304
IRS990ScheduleD/EquipmentGrp/DepreciationAmt04941
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt04941
IRS990ScheduleD/LandGrp/BookValueAmt01521856
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt01466556
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt055300
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt050205
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt020872
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt071077
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt03140
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt03140
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01770167
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IRS990ScheduleI/RecipientTable/CashGrantAmt010000
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
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/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02122297
IRS990/TotalAssetsEOYAmt02140873
IRS990/TotalAssetsGrp/BOYAmt02122297
IRS990/TotalAssetsGrp/EOYAmt02140873
IRS990/TotalCompGreaterThan150KInd0false
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IRS990/TotalEmployeeCnt02
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0130640
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0853796
IRS990/TotalLiabilitiesEOYAmt0885608
IRS990/TotalLiabilitiesGrp/BOYAmt0853796
IRS990/TotalLiabilitiesGrp/EOYAmt0885608
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01268501
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IRS990/TotalOtherCompensationAmt07300
IRS990/TotalReportableCompFromOrgAmt059983
IRS990/TotalRevenueGrp/ExclusionAmt042904
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0117404
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02122297
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02140873
IRS990/TravelGrp/TotalAmt02295
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0101 N COURT
IRS990/USAddress/CityNm0FAIRFIELD
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd052556
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.GROWFAIRFIELD.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0AMY JONES
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06414723436
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-01-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FAIRFIELD ECONOMIC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DEVELOPMENT ASSOC
ReturnHeader/Filer/BusinessNameControlTxt0FAIR
ReturnHeader/Filer/EIN0421111039
ReturnHeader/Filer/PhoneNum06414723436
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 1388
ReturnHeader/Filer/USAddress/CityNm0FAIRFIELD
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd0525560024
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0421029744
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0TDT CPAS AND ADVISORS PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02109 WEST JEFFERSON AVENUE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0FAIRFIELD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd052556
ReturnHeader/PreparerPersonGrp/PhoneNum06414726171
ReturnHeader/PreparerPersonGrp/PreparationDt02021-01-07
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JODI R KERR CPA
ReturnHeader/ReturnTs02021-02-01T12:25:52-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-07-01
ReturnHeader/TaxPeriodEndDt02020-06-30
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,140,873
Liabilities
$885,608
Net assets
$1,255,265
Revenue
$117,404
Expenses
$130,640
Net income
-$13,236
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