Civic Intelligence

Fairfield Economic Development Association Incorporated

990 • Fiscal year 2018 • EIN 42-1111039

Jul 01, 2017 to Jun 30, 2018 • Filed on Nov 20, 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

49th percentile

0.16x

Higher debt load relative to assets than 49% of similar nonprofits.

2018 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

97th percentile

1.68x

Higher debt load relative to revenue than 97% of similar nonprofits.

2018 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2018

Net Margin

74th percentile

11%

Higher net margin than 74% of similar nonprofits.

2018 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

27th percentile

$59,525

Higher top officer pay than 27% of similar nonprofits.

Top officer pay equals 39.2% of source-year revenue.

2018 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2018

Asset Growth

5th percentile

-22%

Faster asset growth than 5% of similar nonprofits.

2018 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

9th percentile

-15%

Faster revenue growth than 9% of similar nonprofits.

2018 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets49th percentile

Assets

Down

$1,563,091

Down $442,415 (-22%) from 2017

Net Assets

Up

$1,307,544

Up $17,944 (+1.4%) from 2017

Liabilities

Down

$255,547

Down $460,359 (-64%) from 2017

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin74th percentile

Revenue

Down

$151,927

Down $25,916 (-15%) from 2017

Expenses

Down

$135,583

Down $6,471 (-4.6%) from 2017

Net Income

Down

$16,344

Down $19,445 (-54%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth5th 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

2018

Assets$1,563,091
Liabilities$255,547
Net Assets$1,307,544
Open 2018 Filing

Operations Trend

Revenue Growth9th 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

2018

Revenue$151,927
Expenses$135,583
Net Income$16,344
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Nov 20, 2018
Return Version
2017v2.3
Gross Receipts
$232,359
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$1,289,600$1,307,544▲ $17,944
Land, Buildings, and Equipment, Net$1,057,814$1,061,209▲ $3,395
Cash and Non-Interest-Bearing Accounts$333,860$332,963▼ $897
Savings and Temporary Cash Investments$600,000$150,000▼ $450,000
Prepaid Expenses and Deferred Charges$3,190$3,964▲ $774
Accounts Receivable-$280-
Total Assets$2,005,506$1,563,091▼ $442,415
Other Assets Total$10,642$14,675▲ $4,033
Liabilities
Mortgage Notes Payable Secured by Investment Property$665,000$215,000▼ $450,000
Accounts Payable and Accrued Expenses$30,317$22,998▼ $7,319
Deferred Revenue$20,589$17,549▼ $3,040
Total Liabilities$715,906$255,547▼ $460,359
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,289,600$1,307,544▲ $17,944
Total Liabilities and Net Assets / Fund Balance$2,005,506$1,563,091▼ $442,415

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$223,814$277,490$501,304
Leasehold Improvements$53,884$12,936$66,820
Land$783,511-$55,300
Equipment-$4,941$4,941
Other Land Buildings-$3,140$3,140
Compensation and Service Providers
Top Officer Pay27th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Joshua LarabySecretary/edFT$52,000$7,525$59,525

Board Members and Trustees

NameTitle
Jodi Kerr Left 1017President
Tim KuikenPresident
Amy JonesDirector
Curtis SmithDirector
J Daniel Sullivan Left 1017Director
Ken RossDirector
Roger VorhiesDirector
Greg LowenbergTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$74,500
Program Service Revenue
$0
Investment Income
$21,055
Other Revenue
$56,372
Change in Net Assets
$16,344
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$80,746
Other Expenses$34,337
Grants and Similar Amounts Paid$20,500
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees---$59,347
Grants to Domestic Orgs---$20,500
Other Salaries and Wages---$16,092
Office Expenses---$8,076
Payroll Taxes---$5,307
Fees for Services Accounting---$4,255
Advertising---$3,525
Conferences and Meetings---$3,489
Travel---$3,106
Insurance---$2,843
Occupancy---$2,173
Fees for Services Legal---$1,099
Other Expenses---$525
Depreciation Depletion---$387
Total Functional Expenses$0$0$0$135,583
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$8,064
Fundraising Direct Expenses$6,690
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
2018-11-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tim Kuiken
Formed
1978
Legal Domicile
Ia
Voting Board Members
7
Independent Board Members
6
Employees
2
Volunteers
13

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 Appendix376 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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IRS990ScheduleC/SubstantiallyAllDuesNondedInd0false
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt0277490
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0501304
IRS990ScheduleD/EquipmentGrp/DepreciationAmt04941
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt04941
IRS990ScheduleD/LandGrp/BookValueAmt0783511
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt0728211
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt055300
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt053884
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt012936
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt066820
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt03140
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt03140
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01061209
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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/TotalAssetsBOYAmt02005506
IRS990/TotalAssetsEOYAmt01563091
IRS990/TotalAssetsGrp/BOYAmt02005506
IRS990/TotalAssetsGrp/EOYAmt01563091
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt074500
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0135583
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0715906
IRS990/TotalLiabilitiesEOYAmt0255547
IRS990/TotalLiabilitiesGrp/BOYAmt0715906
IRS990/TotalLiabilitiesGrp/EOYAmt0255547
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01289600
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01307544
IRS990/TotalOtherCompensationAmt07525
IRS990/TotalReportableCompFromOrgAmt052000
IRS990/TotalRevenueGrp/ExclusionAmt062079
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt015348
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0151927
IRS990/TotalVolunteersCnt013
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02005506
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01563091
IRS990/TravelGrp/TotalAmt03106
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0605 S 23RD ST 102
IRS990/USAddress/CityNm0FAIRFIELD
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd052556
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0WWW.GROWFAIRFIELD.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0GREG LOWENBERG
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum06414723436
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-11-20
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/AtSubmissionCreationDeviceId0639E43D7064DA110D86365B3D40C5518D435221F
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId053D458C82320E5CA4BCA37F288A6CEEB15A0A3C7
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0167.68.16.49
ReturnHeader/FilingSecurityInformation/IPDt02019-01-09
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm009:11:32
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/PreparationDt02019-01-02
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0AMANDA L LANE CPA
ReturnHeader/ReturnTs02019-01-09T09:11:32-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,563,091
Liabilities
$255,547
Net assets
$1,307,544
Revenue
$151,927
Expenses
$135,583
Net income
$16,344
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