Civic Intelligence

Hull Industrial Development

990 • Fiscal year 2022 • EIN 42-1124415

Jan 01, 2022 to Dec 31, 2022 • Filed on Jun 12, 2023

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

93rd percentile

0.72x

Higher debt load relative to assets than 93% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2022

Net Margin

100th percentile

138%

Higher net margin than 100% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

26th percentile

$0

Higher top officer pay than 26% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2022

Asset Growth

4th percentile

-26%

Faster asset growth than 4% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Down

$3,961,887

Down $1,381,349 (-26%) from 2021

Net Assets

Down

$1,119,875

Down $1,531,397 (-58%) from 2021

Liabilities

Up

$2,842,012

Up $150,048 (+5.6%) from 2021

Revenue And Expenses
Liabilities / RevenueScore unavailableNet Margin100th percentile

Revenue

Down

-$1,113,678

Down $844,068 (-313%) from 2021

Expenses

Up

$417,719

Up $159,104 (+62%) from 2021

Net Income

Down

-$1,531,397

Down $1,003,172 (-190%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth4th 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

2022

Assets$3,961,887
Liabilities$2,842,012
Net Assets$1,119,875
Open 2022 Filing

Operations Trend

Revenue GrowthScore unavailable

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

2022

Revenue-$1,113,678
Expenses$417,719
Net Income-$1,531,397
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Jun 12, 2023
Return Version
2022v5.0
Gross Receipts
$1,918,733
Mission and Program Overview

Mission

Attract new business to community

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$2,580,521$1,049,124▼ $1,531,397
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$37,677$-25,025▼ $62,702
Other Assets Total$5,305,559$3,986,912▼ $1,318,647
Total Assets$5,343,236$3,961,887▼ $1,381,349
Liabilities
Other Liabilities$2,691,964$2,842,012▲ $150,048
Total Liabilities$2,691,964$2,842,012▲ $150,048
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,651,272$1,119,875▼ $1,531,397
Total Liabilities and Net Assets / Fund Balance$5,343,236$3,961,887▼ $1,381,349

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$25,000--
Compensation and Service Providers
Top Officer Pay26th percentile

Board Members and Trustees

NameTitle
Cory De WitPresident
Arlan MossDirector
Gary WestraDirector
Jerry BoerDirector
Les Van RoekelDirector
Mike BroekDirector
Nicole RozeboomDirector
John De KosterSecretary
Mark KreunVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$629,952
Program Service Revenue
$28,042
Investment Income
$-1,771,672
Other Revenue
$0
All Other Contributions
$64,523
Change in Net Assets
$-1,531,397
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$417,719
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$99,398--$99,398
Fees for Services Legal$16,407--$16,407
Insurance$8,154--$8,154
Other Expenses$5,061--$5,061
Advertising$3,349--$3,349
Fees for Services Other$2,000--$2,000
Conferences and Meetings$1,809--$1,809
Fees for Services Accounting$1,675--$1,675
All Other Expenses$189--$189
Total Functional Expenses$417,719$0$0$417,719
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Note Payable - Community Foundation$750,000
Note Payable - Kooiker Farm$746,586
Note Payable - Boote Farm$720,620
Note Payable - Iowa State Bank$524,806
Note Payable - Community Betterment$100,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
Yes
Business relationship with family members
Yes
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
Cory De Wit
Title
President
Signed
2023-06-12

Organization Details

Principal Officer
Cory De Wit
Voting Board Members
9
Independent Board Members
9
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 Appendix338 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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IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3VICE PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8PRESIDENT
IRS990/Form990ProvidedToGvrnBodyInd0false
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedInd0false
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IRS990/GainOrLossGrp/OtherAmt0-1771672
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IRS990/GoverningBodyVotingMembersCnt09
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IRS990/GrantsToOrganizationsInd0false
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IRS990/IRPDocumentCnt00
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0LAND & BLDGS HELD FOR RESALE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1RECEIVABLE - HULL FOOD CENTER
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0NOTE PAYABLE - COMMUNITY FOUNDATION
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1NOTE PAYABLE - KOOIKER FARM
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2NOTE PAYABLE - BOOTE FARM
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3NOTE PAYABLE - IOWA STATE BANK
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4NOTE PAYABLE - COMMUNITY BETTERMENT
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IRS990ScheduleL/GrntAsstBnftInterestedPrsnGrp/BusinessName/BusinessNameLine1Txt0B FIERCE BOTIQUE
IRS990ScheduleL/GrntAsstBnftInterestedPrsnGrp/RelationshipWithOrgTxt0OWNER
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PROVIDE PRINTED MATERIALS TO INTERESTED PARTIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1JOHN DE KOSTER MIKE BROEK SECRETARY PRESIDENT BUSINESS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt05343236
IRS990/TotalAssetsEOYAmt03961887
IRS990/TotalAssetsGrp/BOYAmt05343236
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IRS990/TotalContributionsAmt0629952
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0417719
IRS990/TotalFunctionalExpensesGrp/TotalAmt0417719
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02691964
IRS990/TotalLiabilitiesEOYAmt02842012
IRS990/TotalLiabilitiesGrp/BOYAmt02691964
IRS990/TotalLiabilitiesGrp/EOYAmt02842012
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02651272
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01119875
IRS990/TotalOtherProgSrvcExpenseAmt0417719
IRS990/TotalProgramServiceExpensesAmt0417719
IRS990/TotalProgramServiceRevenueAmt028042
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0-1743630
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0-1113678
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt05343236
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03961887
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/PersonNm0CORY DE WIT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-06-12
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
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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/PreparationDt02023-06-26
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RICHARD K RIKKERS CPA
ReturnHeader/ReturnTs02023-06-26T09:05:52-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0CORY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0DE WIT
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,961,887
Liabilities
$2,842,012
Net assets
$1,119,875
Revenue
-$1,113,678
Expenses
$417,719
Net income
-$1,531,397
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
2022Detailed filing. Detailed filing data is available for this year.$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
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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