Civic Intelligence

Iowa Citycoralville Convention and Visitors Bureau

990 • Fiscal year 2014 • EIN 42-1203842

Jul 01, 2013 to Jun 30, 2014 • Filed on Nov 07, 2014

Organization ProfileWWW.IOWACITYCORALVILLE.ORG

View Organization Page

900 First Avenue52241

(319) 337-6592

Siviq Scores

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

Liabilities / Assets

56th percentile

0.23x

Higher debt load relative to assets than 56% of similar nonprofits.

2014 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

29th percentile

0.06x

Higher debt load relative to revenue than 29% of similar nonprofits.

2014 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2014

Net Margin

92nd percentile

25%

Higher net margin than 92% of similar nonprofits.

2014 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

42nd percentile

$119,639

Higher top officer pay than 42% of similar nonprofits.

Top officer pay equals 11.3% of source-year revenue.

2014 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2014

Asset Growth

92nd percentile

35%

Faster asset growth than 92% of similar nonprofits.

2014 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Balance Sheet
Liabilities / Assets56th percentile

Assets

Up

$289,885

Up $74,526 (+35%) from 2013

Net Assets

Up

$222,694

Up $265,770 (+617%) from 2013

Liabilities

Down

$67,191

Down $191,244 (-74%) from 2013

Revenue And Expenses
Liabilities / Revenue29th percentileNet Margin92nd percentile

Revenue

$1,056,727

No earlier filing loaded for comparison.

Expenses

Down

$790,957

Down $255 (-0.0%) from 2013

Net Income

$265,770

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth92nd percentile

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

$1.0M$500K$0-$500KAssets 2010: $312,054Liabilities 2010: $358,175Net Assets 2010: -$46,1212010Assets 2011: $265,331Liabilities 2011: $326,123Net Assets 2011: -$60,7922011Assets 2012: $256,976Liabilities 2012: $294,084Net Assets 2012: -$37,1082012Assets 2013: $215,359Liabilities 2013: $258,435Net Assets 2013: -$43,0762013Assets 2014: $289,885Liabilities 2014: $67,191Net Assets 2014: $222,6942014Assets 2015: $378,160Liabilities 2015: $48,285Net Assets 2015: $329,8752015Assets 2016: $343,389Liabilities 2016: $30,628Net Assets 2016: $312,7612016Assets 2017: $396,151Liabilities 2017: $0Net Assets 2017: $396,1512017Assets 2018: $389,874Liabilities 2018: $0Net Assets 2018: $389,8742018Assets 2019: $447,167Liabilities 2019: $0Net Assets 2019: $447,1672019Assets 2020: $613,483Liabilities 2020: $0Net Assets 2020: $613,4832020Assets 2021: $766,195Liabilities 2021: $0Net Assets 2021: $766,1952021Assets 2022: $738,594Liabilities 2022: $0Net Assets 2022: $738,5942022Assets 2023: $584,354Liabilities 2023: $30,503Net Assets 2023: $553,8512023Assets 2024: $749,365Liabilities 2024: $59,721Net Assets 2024: $689,6442024Assets 2025: $952,950Liabilities 2025: $64,607Net Assets 2025: $888,3432025

Highlighted filing

2014

Assets$289,885
Liabilities$67,191
Net Assets$222,694
Open 2014 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $681,5242010Expenses 2011: $776,1242011Expenses 2012: $893,0062012Expenses 2013: $791,2122013Revenue 2014: $1,056,727Expenses 2014: $790,957Net Income 2014: $265,7702014Revenue 2015: $972,138Expenses 2015: $864,957Net Income 2015: $107,1812015Revenue 2016: $1,175,519Expenses 2016: $1,192,633Net Income 2016: -$17,1142016Revenue 2017: $1,110,831Expenses 2017: $1,027,441Net Income 2017: $83,3902017Revenue 2018: $1,477,630Expenses 2018: $1,483,907Net Income 2018: -$6,2772018Revenue 2019: $1,360,069Expenses 2019: $1,302,776Net Income 2019: $57,2932019Revenue 2020: $1,279,352Expenses 2020: $1,113,036Net Income 2020: $166,3162020Revenue 2021: $1,254,509Expenses 2021: $1,101,797Net Income 2021: $152,7122021Revenue 2022: $1,138,390Expenses 2022: $1,165,991Net Income 2022: -$27,6012022Revenue 2023: $1,433,334Expenses 2023: $1,618,077Net Income 2023: -$184,7432023Revenue 2024: $2,229,214Expenses 2024: $2,093,421Net Income 2024: $135,7932024Revenue 2025: $1,921,049Expenses 2025: $1,722,350Net Income 2025: $198,6992025

Highlighted filing

2014

Revenue$1,056,727
Expenses$790,957
Net Income$265,770
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Nov 7, 2014
Return Version
2013v3.1
Gross Receipts
$1,760,507
Mission and Program Overview

Mission

The bureau is organized for the purpose of advancing the economic vitality and quality of life for residents and visitors as iowa's premier destination.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$147,936$220,406▲ $72,470
Savings and Temporary Cash Investments$62,468$56,069▼ $6,399
Inventories for Sale or Use$4,955$13,410▲ $8,455
Total Assets$215,359$289,885▲ $74,526
Liabilities
Mortgage Notes Payable Secured by Investment Property$258,435$67,191▼ $191,244
Total Liabilities$258,435$67,191▼ $191,244
Net Assets / Fund Balance
Unrestricted Net Assets$-43,076$222,694▲ $265,770
Total Net Assets Fund Balance$-43,076$222,694▲ $265,770
Total Liabilities and Net Assets / Fund Balance$215,359$289,885▲ $74,526

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$203,742$183,904$387,646
Equipment$16,664$178,450$195,114
Compensation and Service Providers
Top Officer Pay42nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Josh SchambergerPresidentFT$119,639$119,639

Board Members and Trustees

NameTitle
Mark GinsbergChairman
Steve ParrottPast-chair
Josh SabinVice-chair
Dale ArensDirector
Dave DavisDirector
Deb BullionDirector
Jean NewlinDirector
John EtheredgeDirector
Mark RuggebergDirector
Matt HayekDirector
Neal RothDirector
Tom GillDirector
Coleen ChipmanSecretary
Ritu JainTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$943,512
Program Service Revenue
$102,675
Investment Income
$201
Other Revenue
$10,339
Change in Net Assets
$265,770
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$530,498
Other Expenses$260,459
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$322,806
Current Officers, Directors, Trustees, and Key Employees---$129,639
Advertising---$75,132
Payroll Taxes---$34,136
Other Employee Benefits---$31,253
Office Expenses---$27,827
Depreciation Depletion---$24,242
Occupancy---$15,075
Pension Plan Contributions---$12,664
Travel---$12,397
Information Technology---$12,154
All Other Expenses---$10,147
Other Expenses---$9,174
Interest---$4,029
Fees for Services Accounting---$4,025
Insurance---$2,112
Conferences and Meetings---$2,095
Total Functional Expenses$0$0$0$790,957
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$653,410
Fundraising Gross Income$622,871
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Event 1$263,820$263,820$276,905$-13,085
Event 2$181,040$181,040$179,002$2,038
Total Events$622,871$622,871$653,410$-30,539
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
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, Page 6, Part VI, Line 11B

“The organization's accountant prepares form 990 from information provided and then gives a draft copy of the 990 to management to review and supply any missing or additional information needed for form 990. After the accountant adds the remaining information, another draft is given to management to review and approve or give final changes needed. The accountant prepares the filing copy of form 990 after management of the organization has given approval for it, and an officer does a final review of form 990 before it is filed.”

Form 990, Page 6, Part VI, Line 12C

“Board members annually certify if there are any conflicts of interest, and when an event occurs that may present a conflict of interest situation. A board member that has notified the rest of the board of a conflict is not allowed to vote on the matter at hand.”

Form 990, Page 6, Part VI, Line 15A

“The president's salary is determined annually by the board of directors. The annual budget is reviewed to determine the salary range. Salaries of management of similar-sized cvb's is used as a guideline for determining salary. Job performance is also part of the process to determine compensation.”

Form 990, Page 6, Part VI, Line 19

“The organization's form 990, financial statements, by-laws and other significant documents are available for public inspection upon request. None of these items are posted on the organization's website.”

Filing and Contact Details

Filer

EIN
42-1203842
Phone
3193376592

Signing Officer

Name
Josh Schamberger
Title
President
Phone
3193376592
Signed
2014-11-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Josh Schamberger
Formed
1983
Legal Domicile
Ia
Voting Board Members
14
Independent Board Members
14
Employees
11
Volunteers
300

Preparer

Preparer
Steven J Kuhl CPA
Phone
3193510231
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“The bureau is subject to rules for the recognition, measurement, classification, and disclosure in the financial statements of uncertain tax positions taken or expected to be taken in the bureau's income tax returns. Management is not aware of any tax positions that would have a material effect on the financial statements that are more likely than not to change in the next twelve months, or that would not sustain an examination by applicable taxing authorities with full knowledge of the position and all relevant facts. Since tax matters are subject to some degree of uncertainty, there can be no assurance that the bureau's income tax returns will not be challenged by the taxing authorities and that the bureau will not br subject to additional tax, penalties, and interest as a result of such challenge. The bureau recognizes penalties and interest arising from uncertain tax positions when incurred. No such penalties or interest were recognized during the year ended june 30, 2014. The bureau files annual information returns with the internal revenue service. The bureau's returns for the years ended june 30, 2011 through 2013 are open to examination by the taxing authorities generally for a period of three years after they were filed.”

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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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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt0178450
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IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0183904
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0387646
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE BUREAU IS SUBJECT TO RULES FOR THE RECOGNITION, MEASUREMENT, CLASSIFICATION, AND DISCLOSURE IN THE FINANCIAL STATEMENTS OF UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE BUREAU'S INCOME TAX RETURNS. MANAGEMENT IS NOT AWARE OF ANY TAX POSITIONS THAT WOULD HAVE A MATERIAL EFFECT ON THE FINANCIAL STATEMENTS THAT ARE MORE LIKELY THAN NOT TO CHANGE IN THE NEXT TWELVE MONTHS, OR THAT WOULD NOT SUSTAIN AN EXAMINATION BY APPLICABLE TAXING AUTHORITIES WITH FULL KNOWLEDGE OF THE POSITION AND ALL RELEVANT FACTS. SINCE TAX MATTERS ARE SUBJECT TO SOME DEGREE OF UNCERTAINTY, THERE CAN BE NO ASSURANCE THAT THE BUREAU'S INCOME TAX RETURNS WILL NOT BE CHALLENGED BY THE TAXING AUTHORITIES AND THAT THE BUREAU WILL NOT BR SUBJECT TO ADDITIONAL TAX, PENALTIES, AND INTEREST AS A RESULT OF SUCH CHALLENGE. THE BUREAU RECOGNIZES PENALTIES AND INTEREST ARISING FROM UNCERTAIN TAX POSITIONS WHEN INCURRED. NO SUCH PENALTIES OR INTEREST WERE RECOGNIZED DURING THE YEAR ENDED JUNE 30, 2014. THE BUREAU FILES ANNUAL INFORMATION RETURNS WITH THE INTERNAL REVENUE SERVICE. THE BUREAU'S RETURNS FOR THE YEARS ENDED JUNE 30, 2011 THROUGH 2013 ARE OPEN TO EXAMINATION BY THE TAXING AUTHORITIES GENERALLY FOR A PERIOD OF THREE YEARS AFTER THEY WERE FILED.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt0263820
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt0181040
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsOtherEventsAmt0178011
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IRS990ScheduleG/FundraisingEventInformationGrp/NameOfEvent1Amt0HERKY ON PARADE
IRS990ScheduleG/FundraisingEventInformationGrp/NameOfEvent2Amt0GOLF TOURNAMENT
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt0-30539
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssOtherEventsAmt0197503
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IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S ACCOUNTANT PREPARES FORM 990 FROM INFORMATION PROVIDED AND THEN GIVES A DRAFT COPY OF THE 990 TO MANAGEMENT TO REVIEW AND SUPPLY ANY MISSING OR ADDITIONAL INFORMATION NEEDED FOR FORM 990. AFTER THE ACCOUNTANT ADDS THE REMAINING INFORMATION, ANOTHER DRAFT IS GIVEN TO MANAGEMENT TO REVIEW AND APPROVE OR GIVE FINAL CHANGES NEEDED. THE ACCOUNTANT PREPARES THE FILING COPY OF FORM 990 AFTER MANAGEMENT OF THE ORGANIZATION HAS GIVEN APPROVAL FOR IT, AND AN OFFICER DOES A FINAL REVIEW OF FORM 990 BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD MEMBERS ANNUALLY CERTIFY IF THERE ARE ANY CONFLICTS OF INTEREST, AND WHEN AN EVENT OCCURS THAT MAY PRESENT A CONFLICT OF INTEREST SITUATION. A BOARD MEMBER THAT HAS NOTIFIED THE REST OF THE BOARD OF A CONFLICT IS NOT ALLOWED TO VOTE ON THE MATTER AT HAND.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE PRESIDENT'S SALARY IS DETERMINED ANNUALLY BY THE BOARD OF DIRECTORS. THE ANNUAL BUDGET IS REVIEWED TO DETERMINE THE SALARY RANGE. SALARIES OF MANAGEMENT OF SIMILAR-SIZED CVB'S IS USED AS A GUIDELINE FOR DETERMINING SALARY. JOB PERFORMANCE IS ALSO PART OF THE PROCESS TO DETERMINE COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S FORM 990, FINANCIAL STATEMENTS, BY-LAWS AND OTHER SIGNIFICANT DOCUMENTS ARE AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST. NONE OF THESE ITEMS ARE POSTED ON THE ORGANIZATION'S WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
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IRS990/UponRequestInd0X
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IRS990/WebsiteAddressTxt0WWW.IOWACITYCORALVILLE.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JOSH SCHAMBERGER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03193376592
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-11-07
ReturnHeader/Filer/BusinessName/BusinessNameLine10IOWA CITYCORALVILLE CONVENTION AND
ReturnHeader/Filer/BusinessName/BusinessNameLine20VISITORS BUREAU
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ReturnHeader/Filer/USAddress/ZIPCode052241
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10WINKEL PARKER & FOSTER CPA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine10510 S CLINTON PO BOX 2236
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0IOWA CITY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0IA
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ReturnHeader/PreparerPersonGrp/PhoneNum03193510231
ReturnHeader/PreparerPersonGrp/PreparationDt02014-11-07

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$289,885
Liabilities
$67,191
Net assets
$222,694
Revenue
$1,056,727
Expenses
$790,957
Net income
$265,770
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.95$0.06$0.89$1.92$1.72$0.20
2024Detailed filing. Detailed filing data is available for this year.$0.75$0.06$0.69$2.23$2.09$0.14
2023Detailed filing. Detailed filing data is available for this year.$0.58$0.03$0.55$1.43$1.62$0.18
2022Detailed filing. Detailed filing data is available for this year.$0.74$0.00$0.74$1.14$1.17$0.03
2021Detailed filing. Detailed filing data is available for this year.$0.77$0.00$0.77$1.25$1.10$0.15
2020Detailed filing. Detailed filing data is available for this year.$0.61$0.00$0.61$1.28$1.11$0.17
2019Detailed filing. Detailed filing data is available for this year.$0.45$0.00$0.45$1.36$1.30$0.06
2018Detailed filing. Detailed filing data is available for this year.$0.39$0.00$0.39$1.48$1.48$0.01
2017Detailed filing. Detailed filing data is available for this year.$0.40$0.00$0.40$1.11$1.03$0.08
2016Detailed filing. Detailed filing data is available for this year.$0.34$0.03$0.31$1.18$1.19$0.02
2015Detailed filing. Detailed filing data is available for this year.$0.38$0.05$0.33$0.97$0.86$0.11
2014Detailed filing. Detailed filing data is available for this year.$0.29$0.07$0.22$1.06$0.79$0.27
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.22$0.26$0.04$0.79
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.26$0.29$0.04$0.89
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.27$0.33$0.06$0.78
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.31$0.36$0.05$0.68