Civic Intelligence

Hull Industrial Development

990 • Fiscal year 2019 • EIN 42-1124415

Jan 01, 2019 to Dec 31, 2019 • Filed on Aug 05, 2020

Organization Profile
540 N Main AveSioux Center, IA 51250

(712) 439-1521

Siviq Scores

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

Liabilities / Assets

74th percentile

0.42x

Higher debt load relative to assets than 74% of similar nonprofits.

2019 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

97th percentile

3.06x

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

2019 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2019

Net Margin

99th percentile

73%

Higher net margin than 99% of similar nonprofits.

2019 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2019

Asset Growth

62nd percentile

9.4%

Faster asset growth than 62% of similar nonprofits.

2019 filings • 501(c)6 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

56th percentile

4.6%

Faster revenue growth than 56% of similar nonprofits.

2019 filings • 501(c)6 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets74th percentile

Assets

Up

$5,230,940

Up $448,244 (+9.4%) from 2018

Net Assets

Up

$3,033,903

Up $524,693 (+21%) from 2018

Liabilities

Down

$2,197,037

Down $76,449 (-3.4%) from 2018

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin99th percentile

Revenue

Up

$717,050

Up $31,311 (+4.6%) from 2018

Expenses

Down

$192,357

Down $67,522 (-26%) from 2018

Net Income

Up

$524,693

Up $98,833 (+23%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth62nd percentile

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

$6.0M$4.0M$2.0M$0Assets 2010: $1,773,231Liabilities 2010: $1,129,461Net Assets 2010: $643,7702010Assets 2011: $2,104,766Liabilities 2011: $1,450,772Net Assets 2011: $653,9942011Assets 2012: $2,125,086Liabilities 2012: $1,440,784Net Assets 2012: $684,3022012Assets 2013: $2,188,656Liabilities 2013: $1,212,280Net Assets 2013: $976,3762013Assets 2014: $2,841,431Liabilities 2014: $1,501,698Net Assets 2014: $1,339,7332014Assets 2015: $3,284,235Liabilities 2015: $1,529,970Net Assets 2015: $1,754,2652015Assets 2016: $3,781,315Liabilities 2016: $1,852,275Net Assets 2016: $1,929,0402016Assets 2017: $4,325,639Liabilities 2017: $2,242,289Net Assets 2017: $2,083,3502017Assets 2018: $4,782,696Liabilities 2018: $2,273,486Net Assets 2018: $2,509,2102018Assets 2019: $5,230,940Liabilities 2019: $2,197,037Net Assets 2019: $3,033,9032019Assets 2020: $4,168,033Liabilities 2020: $988,536Net Assets 2020: $3,179,4972020Assets 2021: $5,343,236Liabilities 2021: $2,691,964Net Assets 2021: $2,651,2722021Assets 2022: $3,961,887Liabilities 2022: $2,842,012Net Assets 2022: $1,119,8752022Assets 2023: $4,246,960Liabilities 2023: $2,892,833Net Assets 2023: $1,354,1272023Assets 2024: $4,176,774Liabilities 2024: $2,230,409Net Assets 2024: $1,946,3652024

Highlighted filing

2019

Assets$5,230,940
Liabilities$2,197,037
Net Assets$3,033,903
Open 2019 Filing

Operations Trend

Revenue Growth56th percentile

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

$1.0M$0-$1.0M-$2.0MExpenses 2010: $77,4092010Expenses 2011: $21,4152011Expenses 2012: $46,6592012Revenue 2013: $439,983Expenses 2013: $147,909Net Income 2013: $292,0742013Revenue 2014: $518,266Expenses 2014: $154,959Net Income 2014: $363,3072014Revenue 2015: $618,630Expenses 2015: $204,098Net Income 2015: $414,5322015Revenue 2016: $386,129Expenses 2016: $211,354Net Income 2016: $174,7752016Revenue 2017: $342,946Expenses 2017: $188,636Net Income 2017: $154,3102017Revenue 2018: $685,739Expenses 2018: $259,879Net Income 2018: $425,8602018Revenue 2019: $717,050Expenses 2019: $192,357Net Income 2019: $524,6932019Revenue 2020: $275,739Expenses 2020: $130,145Net Income 2020: $145,5942020Revenue 2021: -$269,610Expenses 2021: $258,615Net Income 2021: -$528,2252021Revenue 2022: -$1,113,678Expenses 2022: $417,719Net Income 2022: -$1,531,3972022Revenue 2023: $437,198Expenses 2023: $202,946Net Income 2023: $234,2522023Revenue 2024: $812,572Expenses 2024: $220,334Net Income 2024: $592,2382024

Highlighted filing

2019

Revenue$717,050
Expenses$192,357
Net Income$524,693
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Aug 5, 2020
Return Version
2019v5.0
Gross Receipts
$922,677
Mission and Program Overview

Mission

Attract new business to community

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$2,438,459$2,963,152▲ $524,693
Cap Stk Tr Prin Current Funds$62,295$62,295→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$8,456$8,456→ $0
Cash and Non-Interest-Bearing Accounts$13,801$7,622▼ $6,179
Total Assets$4,782,696$5,230,940▲ $448,244
Other Assets Total$4,768,895$5,223,318▲ $454,423
Liabilities
Other Liabilities$2,269,024$2,197,037▼ $71,987
Accounts Payable and Accrued Expenses$4,462--
Total Liabilities$2,273,486$2,197,037▼ $76,449
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,509,210$3,033,903▲ $524,693
Total Liabilities and Net Assets / Fund Balance$4,782,696$5,230,940▲ $448,244

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$25,000--
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Mike BroekPresident
Arlan MossDirector
Cory De WitDirector
Gary WestraDirector
Jerry BoerDirector
Jim CollinsDirector
John De KosterSecretary
Mark KreunVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$723,760
Program Service Revenue
$62,033
Investment Income
$-68,743
Other Revenue
$0
All Other Contributions
$13,760
Change in Net Assets
$524,693
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$192,357
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$103,871--$103,871
Fees for Services Management$10,000--$10,000
Fees for Services Other$4,408--$4,408
Advertising$3,856--$3,856
Insurance$3,017--$3,017
Fees for Services Legal$2,652--$2,652
Other Expenses$2,000--$2,000
Conferences and Meetings$1,379--$1,379
Fees for Services Accounting$1,200--$1,200
Total Functional Expenses$192,357$0$0$192,357
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
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Jerry BoerBusinessDirt WorkNo-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Note Payable - Iowa State Bank$1,947,037
Note Payable - Community Foundation$250,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
Yes
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
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 2

“John de koster mike broek secretary president business”

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

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Hull Industrial Development
EIN
42-1124415
Address
540 N MAIN AVE, SIOUX CENTER, IA 51250

Signing Officer

Name
Mike Broek
Title
President
Signed
2020-08-05

Organization Details

Principal Officer
Mike Broek
Voting Board Members
8
Independent Board Members
8
Employees
0

Preparer

Firm
Kroese & Kroese Pc
Address
540 NORTH MAIN AVENUE, SIOUX CENTER, IA 51250-1824
Preparer
Richard K Rikkers CPA
Phone
7127223375
Supplemental Narrative

Additional Explanations

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

“Provide printed materials to interested parties.”

Raw XML Appendix322 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1JOHN DE KOSTER MIKE BROEK SECRETARY PRESIDENT BUSINESS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO REVIEW WAS OR WILL BE CONDUCTED.
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IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02509210
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03033903
IRS990/TotalOtherProgSrvcExpenseAmt0192357
IRS990/TotalProgramServiceExpensesAmt0192357
IRS990/TotalProgramServiceRevenueAmt062033
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0-6710
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0717050
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04782696
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt05230940
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt0807 3RD ST
IRS990/USAddress/CityNm0HULL
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd051239
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/PersonNm0MIKE BROEK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-08-05
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HULL INDUSTRIAL DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0C/O KROESE & KROESE PC
ReturnHeader/Filer/BusinessNameControlTxt0HULL
ReturnHeader/Filer/EIN0421124415
ReturnHeader/Filer/USAddress/AddressLine1Txt0540 N MAIN AVE
ReturnHeader/Filer/USAddress/CityNm0SIOUX CENTER
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd051250
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId00D4F63A8C3CBAFE067E6FEA42169C81DD40E2A6A
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId00AF40ECD55D2A49C3281AE6264D8A313DDA3FE28
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt052.37.240.203
ReturnHeader/FilingSecurityInformation/IPDt02020-08-13
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm010:17:44
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0421277139
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0KROESE & KROESE PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0540 NORTH MAIN AVENUE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SIOUX CENTER
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0512501824
ReturnHeader/PreparerPersonGrp/PhoneNum07127223375
ReturnHeader/PreparerPersonGrp/PreparationDt02020-08-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RICHARD K RIKKERS CPA
ReturnHeader/ReturnTs02020-08-13T10:17:44-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$5,230,940
Liabilities
$2,197,037
Net assets
$3,033,903
Revenue
$717,050
Expenses
$192,357
Net income
$524,693
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.18$2.23$1.95$0.81$0.22$0.59
2023Summary only. Only limited summary data is available for this year.$4.25$2.89$1.35$0.44$0.20$0.23
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.96$2.84$1.12$1.11$0.42$1.53
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.34$2.69$2.65$0.27$0.26$0.53
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.17$0.99$3.18$0.28$0.13$0.15
2019Detailed filing. Detailed filing data is available for this year.$5.23$2.20$3.03$0.72$0.19$0.52
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.78$2.27$2.51$0.69$0.26$0.43
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.33$2.24$2.08$0.34$0.19$0.15
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.78$1.85$1.93$0.39$0.21$0.17
2015Detailed filing. Detailed filing data is available for this year.$3.28$1.53$1.75$0.62$0.20$0.41
2014Detailed filing. Detailed filing data is available for this year.$2.84$1.50$1.34$0.52$0.15$0.36
2013Summary only. Only limited summary data is available for this year.$2.19$1.21$0.98$0.44$0.15$0.29
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.13$1.44$0.68$0.05
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.10$1.45$0.65$0.02
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.77$1.13$0.64$0.08