Civic Intelligence

Franklin County Development Association

990 • Fiscal year 2021 • EIN 42-1177043

Jul 01, 2020 to Jun 30, 2021 • Filed on Oct 29, 2021

Organization ProfileN/A
5 1st St SWHampton, IA 50441

(641) 456-5668

Siviq Scores

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

Liabilities / Assets

76th percentile

0.35x

Higher debt load relative to assets than 76% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

99th percentile

6.07x

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

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Net Margin

52nd percentile

12%

Higher net margin than 52% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

27th percentile

$17,853

Higher top officer pay than 27% of similar nonprofits.

Top officer pay equals 17.7% of source-year revenue.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Asset Growth

19th percentile

-0.0%

Faster asset growth than 19% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

17th percentile

-12%

Faster revenue growth than 17% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets76th percentile

Assets

Down

$1,766,760

Down $115 (-0.0%) from 2020

Net Assets

Up

$1,153,642

Up $11,837 (+1.0%) from 2020

Liabilities

Down

$613,118

Down $11,952 (-1.9%) from 2020

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin52nd percentile

Revenue

Down

$101,067

Down $13,591 (-12%) from 2020

Expenses

Down

$89,230

Down $22,732 (-20%) from 2020

Net Income

Up

$11,837

Up $9,141 (+339%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth19th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2012: $1,357,238Liabilities 2012: $253,103Net Assets 2012: $1,104,1352012Assets 2013: $1,465,686Liabilities 2013: $197,698Net Assets 2013: $1,267,9882013Assets 2014: $1,773,787Liabilities 2014: $607,776Net Assets 2014: $1,166,0112014Assets 2015: $1,791,875Liabilities 2015: $612,320Net Assets 2015: $1,179,5552015Assets 2016: $1,777,099Liabilities 2016: $612,390Net Assets 2016: $1,164,7092016Assets 2017: $1,758,318Liabilities 2017: $612,359Net Assets 2017: $1,145,9592017Assets 2018: $1,784,030Liabilities 2018: $612,017Net Assets 2018: $1,172,0132018Assets 2019: $1,758,034Liabilities 2019: $611,525Net Assets 2019: $1,146,5092019Assets 2020: $1,766,875Liabilities 2020: $625,070Net Assets 2020: $1,141,8052020Assets 2021: $1,766,760Liabilities 2021: $613,118Net Assets 2021: $1,153,6422021Assets 2022: $1,751,161Liabilities 2022: $612,645Net Assets 2022: $1,138,5162022Assets 2023: $1,173,696Liabilities 2023: $14,380Net Assets 2023: $1,159,3162023Assets 2024: $1,172,298Liabilities 2024: $25,062Net Assets 2024: $1,147,2362024Assets 2025: $1,079,271Liabilities 2025: $20,864Net Assets 2025: $1,058,4072025

Highlighted filing

2021

Assets$1,766,760
Liabilities$613,118
Net Assets$1,153,642
Open 2021 Filing

Operations Trend

Revenue Growth17th percentile

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

$400K$200K$0-$200K-$400KRevenue 2012: -$41,226Expenses 2012: $234,288Net Income 2012: -$275,5142012Revenue 2013: $381,104Expenses 2013: $217,251Net Income 2013: $163,8532013Revenue 2014: $177,222Expenses 2014: $279,198Net Income 2014: -$101,9762014Revenue 2015: $156,706Expenses 2015: $143,162Net Income 2015: $13,5442015Revenue 2016: $136,153Expenses 2016: $151,001Net Income 2016: -$14,8482016Revenue 2017: $136,714Expenses 2017: $155,464Net Income 2017: -$18,7502017Revenue 2018: $144,350Expenses 2018: $118,296Net Income 2018: $26,0542018Revenue 2019: $79,685Expenses 2019: $105,189Net Income 2019: -$25,5042019Revenue 2020: $114,658Expenses 2020: $111,962Net Income 2020: $2,6962020Revenue 2021: $101,067Expenses 2021: $89,230Net Income 2021: $11,8372021Revenue 2022: $128,389Expenses 2022: $143,514Net Income 2022: -$15,1252022Revenue 2023: $165,437Expenses 2023: $144,637Net Income 2023: $20,8002023Revenue 2024: $151,553Expenses 2024: $163,633Net Income 2024: -$12,0802024Revenue 2025: $169,032Expenses 2025: $259,785Net Income 2025: -$90,7532025

Highlighted filing

2021

Revenue$101,067
Expenses$89,230
Net Income$11,837
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Oct 29, 2021
Return Version
2020v4.0
Gross Receipts
$154,980
Mission and Program Overview

Mission

The association's mission is to attract business and industry to franklin county, iowa.

The association's goal is to attract business and industry to Franklin County, Iowa.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$1,141,805$1,153,642▲ $11,837
Cash and Non-Interest-Bearing Accounts$965,594$1,013,627▲ $48,033
Land, Buildings, and Equipment, Net$801,281$753,133▼ $48,148
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$1,766,875$1,766,760▼ $115
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$609,999$609,999→ $0
Accounts Payable and Accrued Expenses$15,071$3,119▼ $11,952
Total Liabilities$625,070$613,118▼ $11,952
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,141,805$1,153,642▲ $11,837
Total Liabilities and Net Assets / Fund Balance$1,766,875$1,766,760▼ $115

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$670,432-$670,432
Land$82,701-$82,701
Compensation and Service Providers
Top Officer Pay27th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Katherine L LaBreeDirectorFT$17,853$17,853
Mary AmsbaughDirectorFT$17,187$17,187
Pat DillonPresident-$904$904

Board Members and Trustees

NameTitle
Brian BureshVice President
Todd LettowDirector
board members per attached-
Kevin WestabyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$111,000
Program Service Revenue
$0
Investment Income
$-7,340
Other Revenue
$-2,593
All Other Contributions
$7,500
Change in Net Assets
$11,837
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$42,138
Other Expenses$38,126
Grants and Similar Amounts Paid$8,966
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees---$35,040
Grants to Domestic Individuals---$8,966
Advertising---$8,726
Insurance---$8,725
Office Expenses---$6,675
Occupancy---$6,612
Payroll Taxes---$2,821
Other Employee Benefits---$2,754
Fees for Services Legal---$2,394
Fees for Services Accounting---$1,850
Conferences and Meetings---$1,768
Other Salaries and Wages---$904
Information Technology---$652
Pension Plan Contributions---$619
Travel---$364
Other Expenses---$127
Total Functional Expenses$0$0$0$89,230
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

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Backup withholding compliance
No
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“The Organization's has no formal process to review Form 990 either before or after filing. The officers and directors regularly review financial activity reports as prepared by the director. Form 990 may be inspected during normal business hours by request from any officer, director, or member.”

Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection

“The organization's governing documents, conflict of interest statements, and financial information is available for review by request from any officer, director, or member during normal business hours.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“The organization's governing documents, conflict of interest statements, and financial information is available for review by request from any officer, director, or member during normal business hours.”

Filing and Contact Details

Filer

Filer Name
Franklin County Development Association
EIN
42-1177043
Phone
6414565668
Address
5 1st St SW, Hampton, IA 50441

Signing Officer

Name
Brian Buresh
Title
President
Signed
2021-10-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brian Buresh
Formed
1981
Legal Domicile
Ia
Voting Board Members
200
Independent Board Members
200
Employees
1
Volunteers
20

Preparer

Firm
Steven E Pearson CPA
Address
P O Box 61, Hampton, IA 50441
Preparer
STEVEN E PEARSON jk
Phone
6414564829
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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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IRS990ScheduleD/BuildingsGrp/BookValueAmt0670432
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0670432
IRS990ScheduleD/LandGrp/BookValueAmt082701
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt082701
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0753133
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt08966
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0Higher Education Assistance
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt04
IRS990ScheduleI/Total501c3OrgCnt00
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Organization's has no formal process to review Form 990 either before or after filing. The officers and directors regularly review financial activity reports as prepared by the director. Form 990 may be inspected during normal business hours by request from any officer, director, or member.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST STATEMENTS, AND FINANCIAL INFORMATION IS AVAILABLE FOR REVIEW BY REQUEST FROM ANY OFFICER, DIRECTOR, OR MEMBER DURING NORMAL BUSINESS HOURS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST STATEMENTS, AND FINANCIAL INFORMATION IS AVAILABLE FOR REVIEW BY REQUEST FROM ANY OFFICER, DIRECTOR, OR MEMBER DURING NORMAL BUSINESS HOURS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/TaxablePartyNotificationInd0false
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IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01766875
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IRS990/TotalProgramServiceExpensesAmt089230
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Brian Buresh
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-10-29
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Franklin County Development Association
ReturnHeader/Filer/BusinessNameControlTxt0FRAN
ReturnHeader/Filer/EIN0421177043
ReturnHeader/Filer/PhoneNum06414565668
ReturnHeader/Filer/USAddress/AddressLine1Txt05 1st St SW
ReturnHeader/Filer/USAddress/CityNm0Hampton
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd050441
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0421148611
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Steven E Pearson CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0P O Box 61
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Hampton
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd050441
ReturnHeader/PreparerPersonGrp/PhoneNum06414564829
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEVEN E PEARSON jk
ReturnHeader/ReturnTs02021-10-29T15:08:01-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Brian
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Buresh
ReturnHeader/TaxPeriodBeginDt02020-07-01
ReturnHeader/TaxPeriodEndDt02021-06-30
ReturnHeader/TaxYr02020

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,766,760
Liabilities
$613,118
Net assets
$1,153,642
Revenue
$101,067
Expenses
$89,230
Net income
$11,837
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.08$0.02$1.06$0.17$0.26$0.09
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.17$0.03$1.15$0.15$0.16$0.01
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.17$0.01$1.16$0.17$0.14$0.02
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.75$0.61$1.14$0.13$0.14$0.02
2021Detailed filing. Detailed filing data is available for this year.$1.77$0.61$1.15$0.10$0.09$0.01
2020Summary only. Only limited summary data is available for this year.$1.77$0.63$1.14$0.11$0.11$0.00
2019Summary only. Only limited summary data is available for this year.$1.76$0.61$1.15$0.08$0.11$0.03
2018Summary only. Only limited summary data is available for this year.$1.78$0.61$1.17$0.14$0.12$0.03
2017Summary only. Only limited summary data is available for this year.$1.76$0.61$1.15$0.14$0.16$0.02
2016Summary only. Only limited summary data is available for this year.$1.78$0.61$1.16$0.14$0.15$0.01
2015Summary only. Only limited summary data is available for this year.$1.79$0.61$1.18$0.16$0.14$0.01
2014Summary only. Only limited summary data is available for this year.$1.77$0.61$1.17$0.18$0.28$0.10
2013Summary only. Only limited summary data is available for this year.$1.47$0.20$1.27$0.38$0.22$0.16
2012Summary only. Only limited summary data is available for this year.$1.36$0.25$1.10$0.04$0.23$0.28