Civic Intelligence

Hull Industrial Development

990 • Fiscal year 2023 • EIN 42-1124415

Jan 01, 2023 to Dec 31, 2023 • Filed on Aug 06, 2024

Organization Profile

Refreshing map…

675 S 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

92nd percentile

0.68x

Higher debt load relative to assets than 92% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

100th percentile

6.62x

Higher debt load relative to revenue than 100% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Net Margin

97th percentile

54%

Higher net margin than 97% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

27th percentile

$0

Higher top officer pay than 27% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Asset Growth

53rd percentile

7.2%

Faster asset growth than 53% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

Score unavailable

No value available

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

Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Flat

$4,246,960

Flat from 2023

Net Assets

Flat

$1,354,127

Flat from 2023

Liabilities

Flat

$2,892,833

Flat from 2023

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin97th percentile

Revenue

Flat

$437,198

Flat from 2023

Expenses

Flat

$202,946

Flat from 2023

Net Income

Flat

$234,252

Flat from 2023

Historical Trend

Balance Sheet Trend

Asset Growth53rd 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 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

2023

Assets$4,246,960
Liabilities$2,892,833
Net Assets$1,354,127
Open 2023 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 2023: $437,198Expenses 2023: $202,946Net Income 2023: $234,2522023Revenue 2024: $812,572Expenses 2024: $220,334Net Income 2024: $592,2382024

Highlighted filing

2023

Revenue$437,198
Expenses$202,946
Net Income$234,252
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Aug 6, 2024
Return Version
2023v5.0
Gross Receipts
$1,559,579
Mission and Program Overview

Mission

Attract new business to community

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$1,049,124$1,283,376▲ $234,252
Cash and Non-Interest-Bearing Accounts$-25,025$184,891▲ $209,916
Cap Stk Tr Prin Current Funds$62,295$62,295→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$8,456$8,456→ $0
Total Assets$3,961,887$4,246,960▲ $285,073
Other Assets Total$3,986,912$4,062,069▲ $75,157
Liabilities
Other Liabilities$2,842,012$2,892,833▲ $50,821
Total Liabilities$2,842,012$2,892,833▲ $50,821
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,119,875$1,354,127▲ $234,252
Total Liabilities and Net Assets / Fund Balance$3,961,887$4,246,960▲ $285,073

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$25,000--
Compensation and Service Providers
Top Officer Pay27th 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
$1,442,379
Program Service Revenue
$32,242
Investment Income
$-1,037,423
Other Revenue
$0
All Other Contributions
$71,095
Change in Net Assets
$234,252
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$202,946
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$144,236--$144,236
Advertising$10,969--$10,969
Fees for Services Legal$5,937--$5,937
Fees for Services Accounting$3,005--$3,005
Fees for Services Other$2,000--$2,000
Insurance$1,956--$1,956
Other Expenses$52--$52
Total Functional Expenses$202,946$0$0$202,946
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$726,860
Note Payable - Boote Farm$680,586
Note Payable - Pattersonville$635,387
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
675 S MAIN AVE, SIOUX CENTER, IA 51250

Signing Officer

Name
Cory De Wit
Title
President
Signed
2024-08-06

Organization Details

Principal Officer
Cory De Wit
Voting Board Members
9
Independent Board Members
9
Employees
0

Preparer

Firm
Kroese & Kroese Pc
Address
675 S MAIN AVE, SIOUX CENTER, IA 51250
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 Appendix333 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
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc1RECEIVABLE - HULL FOOD CENTER
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1NOTE PAYABLE - KOOIKER FARM
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2NOTE PAYABLE - BOOTE FARM
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3NOTE PAYABLE - PATTERSONVILLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4NOTE PAYABLE - COMMUNITY BETTERMENT
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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
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt03961887
IRS990/TotalAssetsEOYAmt04246960
IRS990/TotalAssetsGrp/BOYAmt03961887
IRS990/TotalAssetsGrp/EOYAmt04246960
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01442379
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0202946
IRS990/TotalFunctionalExpensesGrp/TotalAmt0202946
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02842012
IRS990/TotalLiabilitiesEOYAmt02892833
IRS990/TotalLiabilitiesGrp/BOYAmt02842012
IRS990/TotalLiabilitiesGrp/EOYAmt02892833
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01119875
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01354127
IRS990/TotalOtherProgSrvcExpenseAmt0202946
IRS990/TotalProgramServiceExpensesAmt0202946
IRS990/TotalProgramServiceRevenueAmt032242
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0-1005181
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0437198
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03961887
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04246960
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt0401 3RD ST
IRS990/USAddress/CityNm0HULL
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd051239
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02024-08-08 14:25:15Z
ReturnHeader/BusinessOfficerGrp/PersonNm0CORY DE WIT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-08-06
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HULL INDUSTRIAL DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0C/O KROESE & KROESE PC
ReturnHeader/Filer/BusinessNameControlTxt0HULL
ReturnHeader/Filer/EIN0421124415
ReturnHeader/Filer/USAddress/AddressLine1Txt0675 S MAIN AVE
ReturnHeader/Filer/USAddress/CityNm0SIOUX CENTER
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd051250
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0421277139
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0KROESE & KROESE PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0675 S MAIN AVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SIOUX CENTER
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd051250
ReturnHeader/PreparerPersonGrp/PhoneNum07127223375
ReturnHeader/PreparerPersonGrp/PreparationDt02024-08-28
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RICHARD K RIKKERS CPA
ReturnHeader/ReturnTs02024-08-28T08:30:53-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,246,960
Liabilities
$2,892,833
Net assets
$1,354,127
Revenue
$437,198
Expenses
$202,946
Net income
$234,252
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
2023Detailed filing. Detailed filing data is available for this year.$4.25$2.89$1.35$0.44$0.20$0.23
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
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